Grand View Terrace Inc
- Assets
- $6.5m
- Revenue
- $2.3m
- Investments
- $0.0
- Employees
- 7
- Location
- Jersey City, NJ
- Founding
- 05/1967
- Data as of
- 06/2021
- EIN
- 22-1904314
Organization Overview
Grand View Terrace Inc is located in Jersey City, NJ. The organization was established in 1967. 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 06/2021, Grand View Terrace Inc employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Grand View Terrace Inc is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 06/2021, Grand View Terrace Inc generated $2.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.3% each year. All expenses for the organization totaled $2.2m during the year ending 06/2021. While expenses have increased by 0.1% per year over the past 7 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
TO PROVIDE AFFORDABLE HOUSING TO LOW INCOME SENIOR CITIZENS AGE 62 OR OVER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE LOW COST HOUSING TO SENIOR CITIZENS AGE 62 AND OVER.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William Cunningham Trustee | Trustee | 1 | $0 |
Jim Kilkenny Trustee | Trustee | 1 | $0 |
Michael Marchello Trustee | Trustee | 1 | $0 |
Josph Dipalma Trustee | Trustee | 1 | $0 |
Louis Rodriguez Trustee | Trustee | 1 | $0 |
Nicholas Jayme Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $8,956 |
| 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 | $2,251,598 |
| Statement of Expenses | |
|---|---|
| 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 to disqualified persons | $0 |
| Other salaries and wages | $298,408 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $88,910 |
| Payroll taxes | $28,270 |
| Fees for services: Management | $212,136 |
| Fees for services: Legal | $109,410 |
| Fees for services: Accounting | $27,082 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $410 |
| Office expenses | $20,198 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| 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 | $208,997 |
| Insurance | $104,841 |
| All other expenses | $0 |
| Total functional expenses | $2,164,240 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,764,459 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $24,275 |
| 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 | $104,738 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,227,230 |
| Total assets | $6,522,044 |
| Accounts payable and accrued expenses | $101,810 |
| Grants payable | $0 |
| Deferred revenue | $5,674 |
| 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 | $193,930 |
| Total liabilities | $301,414 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $6,220,630 |