Elizabeth Center Apartments Urban Renewal Corp
- Assets
- $6.2m
- Revenue
- $2.6m
- Investments
- $0.0
- Employees
- 8
- Location
- Elizabeth, NJ
- Founding
- Data as of
- 12/2021
- EIN
- 22-1849025
Organization Overview
Elizabeth Center Apartments Urban Renewal Corp is located in Elizabeth, NJ. As of 12/2021, Elizabeth Center Apartments Urban Renewal Corp employed 8 individuals. Elizabeth Center Apartments Urban Renewal 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 12/2021, Elizabeth Center Apartments Urban Renewal Corp generated $2.6m in total revenue. This represents relatively stable growth, over the past 2 years the organization has increased revenue by an average of 0.3% each year. All expenses for the organization totaled $2.9m during the year ending 12/2021. While expenses have increased by 3.3% per year over the past 2 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION SEEKS TO PROVIDE AFFORDABLE HOUSING TO INDIVIDUALS DISPLACED BY URBAN RENEWAL OR GOVERNMENTAL ACTION, AND FOR LOW TO MODERATE INCOME INDIVIDUALS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION ENGAGED IN ACTIVITIES CONSISTENT WITH ITS STATED MISSION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gwendolyn Carter President | OfficerTrustee | 5 | $0 |
Francisco Gonzalez Vice President | OfficerTrustee | 5 | $0 |
Misael Rodriquez Secretary | OfficerTrustee | 5 | $0 |
Tashima Dorvil Treasurer | OfficerTrustee | 5 | $0 |
Ruth Thomas Member | Trustee | 5 | $0 |
Veronica Mcbryde Member | Trustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ward Property Management Llc Managing Agent | 12/30/21 | $201,000 |
Premier Contracting Building Contractor | 12/30/21 | $895,359 |
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 | $2,592,031 |
| Investment income | $3,743 |
| 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 | $2,595,774 |
| 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 | $279,623 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $125,792 |
| Payroll taxes | $24,776 |
| Fees for services: Management | $201,000 |
| Fees for services: Legal | $29,457 |
| Fees for services: Accounting | $31,040 |
| 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 | $9,958 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $985,101 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,839 |
| Interest | $217,276 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $184,060 |
| Insurance | $220,971 |
| All other expenses | $0 |
| Total functional expenses | $2,861,435 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $517,031 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $195,574 |
| 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 | $277,569 |
| Net Land, buildings, and equipment | $2,001,141 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,231,241 |
| Total assets | $6,222,556 |
| Accounts payable and accrued expenses | $478,411 |
| 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 | $4,724,884 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $5,203,295 |
| Net assets without donor restrictions | $1,019,261 |
| 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 | $6,222,556 |
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