Maynard Road Corporation
- Assets
- $6.8m
- Revenue
- $280.4k
- Investments
- $0.0
- Employees
- 15
- Location
- Meriden, CT
- Founding
- 03/2009
- Data as of
- 12/2021
- EIN
- 20-5952774
Organization Overview
Maynard Road Corporation is located in Meriden, CT. The organization was established in 2009. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. As of 12/2021, Maynard Road Corporation employed 15 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Maynard Road 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 12/2021, Maynard Road Corporation generated $280.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (14.5%) each year. All expenses for the organization totaled $469.3k during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
ASSIST IN THE FINANCING OF A 122 UNIT LOW INCOME AFFORDABLE HOUSING DEVELOPMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATE A LOW INCOME HOUSING PROJECT IN THE PRE-DEVELOPMENT PHASE OF THE REDEVELOPMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cornelious Ivers Treasurer | OfficerTrustee | 10 | $0 |
Scott Griffith President | OfficerTrustee | 10 | $0 |
Carlos Ruiz Vice Preside | OfficerTrustee | 10 | $0 |
Robert V Cappelletti Secretary | OfficerTrustee | 10 | $0 |
Lawrence Kendzior Director | Trustee | 10 | $0 |
Emely Morales-Varona Director | Trustee | 10 | $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 | $280,441 |
| Investment income | $0 |
| 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 | $280,441 |
| 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 | $126,847 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $18,745 |
| Payroll taxes | $10,148 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,864 |
| 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 | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $102,825 |
| Travel | $183 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $37,926 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $18,941 |
| Insurance | $35,099 |
| All other expenses | $15,926 |
| Total functional expenses | $469,298 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,177,109 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $27,509 |
| Prepaid expenses and deferred charges | $15,000 |
| Net Land, buildings, and equipment | $585,677 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,981,792 |
| Total assets | $6,787,087 |
| Accounts payable and accrued expenses | $43,612 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $4,422,372 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $148,844 |
| Total liabilities | $4,614,828 |
| Net assets without donor restrictions | $2,172,259 |
| 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 | $6,787,087 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Nhp Foundation New York, NY | $288,555,579 | $98,614,983 |
Nycha Ii Housing Development Fund Corporation New York, NY | $21,607,256 | $75,418,815 |
Housing Assistance Corporation Hyannis, MA | $20,544,372 | $36,246,807 |
Eihab Human Services New Jersey Inc Springfield Gardens, NY | $6,084,233 | $34,447,037 |
West Side Federation For Senior Housing Inc New York, NY | $138,485,239 | $41,412,403 |
East Harlem Pilot Block Housing Development Fund Co Inc New York, NY | $76,192,730 | $32,420,395 |
Orange Affordable Housing Inc New York, NY | $0 | $0 |
Housing Visions Unlimited Inc Syracuse, NY | $54,882,329 | $24,284,268 |
Phipps Houses New York, NY | $754,776,508 | $88,001,578 |
C-Hp Cove Inc New York, NY | $8,025,727 | $5,367,385 |
Diego Beekman Mutual Housing Assoc Housing Developmnt Fund Corp Bronx, NY | $60,873,005 | $24,267,142 |
Neville Communities Home Inc Cambridge, MA | $11,055,368 | $17,412,264 |