Burnett Walnut Corporation
- Assets
- $1.3m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 6
- Location
- Neptune, NJ
- Founding
- 09/1984
- Data as of
- 06/2023
- 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 06/2023, 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 06/2023, Burnett Walnut Corporation generated $1.5m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.5% each year. All expenses for the organization totaled $1.5m during the year ending 06/2023. While expenses have increased by 0.4% per year over the past 8 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
2023
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 98%.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lawrence Carlson Ceo/secretary | 0.5 | $0 | |
Mark Lenhard Ceo/secretary | Trustee | 0.5 | $0 |
Rev Edward Carll Chairman | Trustee | 0.5 | $0 |
Veronia Palmer Trustee | Trustee | 0.5 | $0 |
George Campbell Trustee | Trustee | 0.5 | $0 |
Jana Purkis-Brash Trustee | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $66,018 |
| 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 | $66,018 |
| Total Program Service Revenue | $1,444,324 |
| Investment income | $4,352 |
| 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 | $1,514,694 |
| 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 | $327,251 |
| Pension plan accruals and contributions | $1,835 |
| Other employee benefits | $50,147 |
| Payroll taxes | $26,854 |
| Fees for services: Management | $46,740 |
| Fees for services: Legal | $0 |
| 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 | $1,276 |
| Office expenses | $26,810 |
| Information technology | $22,598 |
| Royalties | $0 |
| Occupancy | $37,238 |
| Travel | $713 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $9,013 |
| Interest | $186,588 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $138,335 |
| Insurance | $34,318 |
| All other expenses | $65,650 |
| Total functional expenses | $1,451,433 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $47,267 |
| Savings and temporary cash investments | $188,725 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $30,747 |
| 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 | $13,359 |
| Net Land, buildings, and equipment | $953,383 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $48,129 |
| Total assets | $1,281,610 |
| Accounts payable and accrued expenses | $229,366 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $23,629 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $1,975,139 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $98,206 |
| Total liabilities | $2,326,340 |
| Net assets without donor restrictions | -$1,044,730 |
| 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 | $1,281,610 |