Rdc Commercial Center Inc
- Assets
- $14.6m
- Revenue
- $4.5m
- Investments
- $0.0
- Employees
- 21
- Location
- Brooklyn, NY
- Founding
- 08/1993
- Data as of
- 06/2023
- EIN
- 11-2249649
Organization Overview
Rdc Commercial Center Inc is located in Brooklyn, NY. The organization was established in 1993. According to its NTEE Classification (S31) the organization is classified as: Urban & Community Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2023, Rdc Commercial Center Inc employed 21 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rdc Commercial Center Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2023, Rdc Commercial Center Inc generated $4.5m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.5% each year. All expenses for the organization totaled $5.6m during the year ending 06/2023. While expenses have increased by 1.6% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO DEVELOP AND OPERATE COMMERCIAL/RENTAL FACILITIES IN BEDFORD STUYVESANT TO COMBAT URBAN DECAY, CREATE JOBS AND BUSINESS OPPORTUNITIES, AND STIMULATE COMMERCIAL REVITALIZATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO DEVELOP AND OPERATE COMMERCIAL/RENTAL FACILITIES IN BEDFORD STUYVESANT TO COMBAT URBAN DECAY, CREATE JOBS AND BUSINESS OPPORTUNITIES AND STIMULATE COMMERCIAL REVITALIZATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dyrnest Sinckler Vp/ Vice Chair | OfficerTrustee | 37 | $167,060 |
Blondel A Pinnock President/chair | OfficerTrustee | 1 | $0 |
Chioma Ruth Onwumere Treasurer | OfficerTrustee | 1 | $0 |
Clarence Stewart Vice President | OfficerTrustee | 35 | $86,390 |
Doris Rowley Hoyte Secretary | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $3,777,569 |
| Investment income | $377,902 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,484,188 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $656,700 |
| Compensation of current officers, directors, key employees. | $65,391 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,377,903 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $91,978 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,269 |
| Fees for services: Accounting | $75,376 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $377,680 |
| Advertising and promotion | $2,115 |
| Office expenses | $797,451 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,228,923 |
| Travel | $494 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $23,400 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $693,393 |
| Insurance | $242,714 |
| All other expenses | $0 |
| Total functional expenses | $5,571,396 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $94,122 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,316,183 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $2,583,620 |
| Net Land, buildings, and equipment | $10,262,983 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $375,842 |
| Total assets | $14,632,750 |
| Accounts payable and accrued expenses | $1,489,622 |
| Grants payable | $0 |
| Deferred revenue | $147,020 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $23,799,980 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,670,190 |
| Total liabilities | $28,106,812 |
| Net assets without donor restrictions | -$13,474,062 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $14,632,750 |