Midwood Development Corp
- Assets
- $254.5k
- Revenue
- $434.0k
- Investments
- $0.0
- Employees
- 23
- Location
- Brooklyn, NY
- Founding
- 06/1977
- Data as of
- 06/2024
- EIN
- 11-2420752
Organization Overview
Midwood Development Corp is located in Brooklyn, NY. The organization was established in 1977. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2024, Midwood Development Corp employed 23 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Midwood Development Corp 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 06/2024, Midwood Development Corp generated $434.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (14.1%) each year. All expenses for the organization totaled $459.7k during the year ending 06/2024. As we would expect to see with falling revenues, expenses have declined by (12.9%) per year over the past 9 years. 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
MDC'S MISSION IS TO ENHANCE AND IMPROVE OUR COMMUNITY BY PROVIDING A RANGE OF SERVICES INCLUDING EDUCATIONAL AND RECREATIONAL SERVICES FOR YOUTH AND HOUSING COUNSELING, WHILE FOSTERING AN INCLUSIVE AND VIBRANT COMMERCIAL DISTRICT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
YOUTH AND FAMILY SUPPORT SERVICES
HOUSING
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Shelly Eisenhart Chair | OfficerTrustee | 1 | $0 |
Allen Schaeffer Director | Trustee | 0.25 | $0 |
Elaine T Moss Director | Trustee | 0.25 | $0 |
Harry Schiffman Lmsw Director | Trustee | 0.25 | $0 |
Alan J Dubrow President | OfficerTrustee | 15 | $0 |
Steven Cohen Director | Trustee | 0.25 | $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 | $129,874 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $129,874 |
| Total Program Service Revenue | $301,575 |
| Investment income | $2,571 |
| 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 | $434,020 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $228,092 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $6,973 |
| Payroll taxes | $17,544 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $67,076 |
| Advertising and promotion | $0 |
| Office expenses | $654 |
| Information technology | $10,925 |
| Royalties | $0 |
| Occupancy | $30,200 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $20,173 |
| All other expenses | $10,245 |
| Total functional expenses | $459,710 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $250,363 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,600 |
| 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 | $2,500 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $254,463 |
| Accounts payable and accrued expenses | $21,056 |
| Grants payable | $0 |
| Deferred revenue | $888 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $21,944 |
| Net assets without donor restrictions | $232,519 |
| 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 | $254,463 |