Morristown Area Development Corporation
- Assets
- $329.4k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Morristown, NY
- Founding
- 03/1992
- Data as of
- 12/2023
- EIN
- 16-1304925
Organization Overview
Morristown Area Development Corporation is located in Morristown, NY. The organization was established in 1992. According to its NTEE Classification (L22) the organization is classified as: Senior Citizens Housing & Retirement Communities, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Morristown Area Development Corporation 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 12/2023, Morristown Area Development Corporation generated $112.9k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 2.2% each year. All expenses for the organization totaled $102.5k during the year ending 12/2023. While expenses have increased by 1.8% per year over the past 9 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
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3
PROVIDES TWELVE (12) UNITS OF ONE-BEDROOM HOUSING FOR LOW INCOME ELDERLY
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Debbie Murray President | 1 | $0 | |
Father Chris Carrara Director | 1 | $0 | |
Shirley Thompson Secretary/treasurer | 1 | $0 | |
David Demers Director | 1 | $0 | |
Judy Wright Vice President | 1 | $0 | |
James Bogardus Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $111,959 |
| Membership dues | $0 |
| Investment income | $6 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $968 |
| Total Revenue | $112,933 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $40,841 |
| Occupancy, rent, utilities, and maintenance | $54,289 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $7,418 |
| Total expenses | $102,548 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $45,735 |
| Other assets | $0 |
| Total assets | $329,364 |
| Total liabilities | $354,684 |
| Net assets or fund balances | -$25,320 |