Burnett Walnut Corporation
- Assets
- $1.6m
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 6
- Location
- Neptune, NJ
- Founding
- 09/1984
- Data as of
- 06/2021
- EIN
- 22-2531971
Organization Overview
Burnett Walnut Corporation is located in Neptune, NJ. The organization was established in 1984. According to its NTEE Classification (L24) the organization is classified as: Independent Housing for People with Disabilities, under the broad grouping of Housing & Shelter and related organizations. As of 06/2021, Burnett Walnut Corporation employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Burnett Walnut 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 06/2021, Burnett Walnut Corporation generated $1.4m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.3% each year. All expenses for the organization totaled $1.3m during the year ending 06/2021. 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
COMPASSIONATELY SERVING IN COMMUNITY SO THAT ALL ARE FREE TO CHOOSE ABUNDANT LIFE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CORPORATION CONSISTS OF 76 APARTMENTS FOR SENIOR AND HANDICAPPED INDIVIDUALS FINANCED THROUGH HUD. OCCUPANCY AVERAGED 97%.
THE CORPORATION CONSISTS OF 76 APARTMENTS FOR SENIOR AND HANDICAPPED INDIVIDUALS FINANCED THROUGH HUD. OCCUPANCY AVERAGED 97%.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lawrence D Carlson Secretary | Trustee | 0.5 | $0 |
Veronica Palmer Trustee | Trustee | 0.5 | $0 |
Rev Edward Carll Chairman | Trustee | 0.5 | $0 |
Jana Purkis-Brash Trustee | Trustee | 0.5 | $0 |
Gavin Stobie Trustee | Trustee | 0.5 | $0 |
George Campbell Trustee | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $24,877 |
| All other contributions, gifts, grants, and similar amounts not included above | $858 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $25,735 |
| Total Program Service Revenue | $1,418,521 |
| Investment income | $62 |
| 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 | $1,444,318 |
| 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 | $270,445 |
| Pension plan accruals and contributions | $1,835 |
| Other employee benefits | $48,179 |
| Payroll taxes | $22,390 |
| Fees for services: Management | $46,740 |
| Fees for services: Legal | $2,881 |
| Fees for services: Accounting | $28,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,093 |
| Office expenses | $21,494 |
| Information technology | $15,082 |
| Royalties | $0 |
| Occupancy | $39,370 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,784 |
| Interest | $221,413 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $155,243 |
| Insurance | $29,920 |
| All other expenses | $54,219 |
| Total functional expenses | $1,328,271 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $164,612 |
| Savings and temporary cash investments | $140,306 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $23,375 |
| 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 | $13,644 |
| Net Land, buildings, and equipment | $1,204,557 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $44,082 |
| Total assets | $1,590,576 |
| Accounts payable and accrued expenses | $193,415 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $19,582 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $2,378,180 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $156,423 |
| Total liabilities | $2,747,600 |
| Net assets without donor restrictions | -$1,157,024 |
| 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 | $1,590,576 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Seaview Senior Living Housing Development Fund Corporation Staten Island, NY | $64,749,776 | $8,609,081 |
Pacific Gas & Electric Long-Term Disability Trust For Non-Union Emp Pittsburgh, PA | $32,740,519 | $8,478,882 |
Camphill Hudson Inc Hudson, NY | $3,052,537 | $2,704,723 |
Burnett Walnut Corporation Neptune, NJ | $1,590,576 | $1,444,318 |
Regional Center For Independent Living Inc Rochester, NY | $772,580 | $1,024,863 |
Markus Gardens Housing Development Fund Corporation New York, NY | $17,544,410 | $1,031,064 |
4-12 Gouverneur Place Housing Development Fund Corporation Yonkers, NY | $11,967,920 | $755,809 |
Acmh Building 74 Hdfc New York, NY | $16,327,887 | $1,092,932 |
Federation Building 74 Hdfc West Babylon, NY | $16,049,618 | $1,166,287 |
Tsiny Building 74 Hdfc Whitestone, NY | $16,231,289 | $1,082,688 |
Skyline Recovery Pittsburgh, PA | $178,750 | $306,196 |
Oh Soundview Avenue Housing Development Fund Corporation New York, NY | $13,303,048 | $980,540 |