New Manayunk Corp
- Assets
- $1.5m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 19
- Location
- Philadelphia, PA
- Founding
- 12/1985
- Data as of
- 12/2021
- EIN
- 22-2680037
Organization Overview
New Manayunk Corp, operating under the name Manayunk Development Corporation, is located in Philadelphia, PA. The organization was established in 1985. According to its NTEE Classification (S31) the organization is classified as: Urban & Community Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Manayunk Development Corporation employed 19 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Manayunk Development 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, Manayunk Development Corporation generated $1.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.4% each year. All expenses for the organization totaled $1.2m 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
COMMUNITY DEVELOPMENT CORPORATION FORMED TO ENCOURAGE ECONOMIC DEVELOPMENT THAT BENEFITS THE ENTIRE COMMUNITY OF MANAYUNK.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION INCURS EXPENSES FOR COMMUNITY EVENTS INCLUDING STREETS FESTIVALS, ARTS FESTIVALS, AND SPECIAL EVENTS IN ORDER TO PROMOTE AND STIMULATE TRADE AND IMPROVE CONDITIONS IN THE COMMUNITY.
THE ORGANIZATION RECEIVED A GRANT AND INCURS EXPENSES RELATED TO THE IMPROVEMENT OF THE CANAL AREA AND WATERFRONT REVITALIZATION IN MANAYUNK IN ORDER TO IMPROVE THE CONDITIONS IN THE COMMUNITY.
THE ORGANIZATION INCURS EXPENSES FOR DISTRICT MAINTENANCE AND SECURITY IN ORDER TO MAKE THE COMMUNITY ENVIRONMENT CLEAN AND SAFE.
THE ORGANIZATION INCURS EXPENSES FOR DISTRICT INITIATIVES FOR YOUTH PROGRAMS,SECURITY AND COMMUNITY PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gwen Mccauley Executive Director | OfficerTrustee | 40 | $124,115 |
Matthew Gambone Board Member | OfficerTrustee | 1 | $0 |
Chris Maguire President | OfficerTrustee | 1 | $0 |
Su-Shan Lai Board Member | Trustee | 1 | $0 |
Brendan Mcgrew Board Member | Trustee | 1 | $0 |
Ivan Roa Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $40,038 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $259,781 |
| All other contributions, gifts, grants, and similar amounts not included above | $49,784 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $349,603 |
| Total Program Service Revenue | $1,119,806 |
| Investment income | $81 |
| 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 | $1,498,150 |
| 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. | $124,115 |
| Compensation of current officers, directors, key employees. | $124,115 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $276,584 |
| Pension plan accruals and contributions | $11,853 |
| Other employee benefits | $45,592 |
| Payroll taxes | $32,445 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $479 |
| Fees for services: Accounting | $4,650 |
| 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 | $26,117 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $77,296 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,848 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $13,607 |
| Insurance | $20,251 |
| All other expenses | $150,447 |
| Total functional expenses | $1,153,505 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $900,325 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $70,227 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $65,520 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $9,684 |
| Net Land, buildings, and equipment | $422,474 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,500 |
| Total assets | $1,470,730 |
| Accounts payable and accrued expenses | $15,340 |
| Grants payable | $0 |
| Deferred revenue | $309,454 |
| 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 | $243,432 |
| Total liabilities | $568,226 |
| Net assets without donor restrictions | $886,168 |
| Net assets with donor restrictions | $16,336 |
| 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 | $1,470,730 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that New Manayunk Corp has recieved totaling $8,280.
| Awarding Organization | Amount |
|---|---|
Philadelphia Industrial Development Corp Philadelphia, PA PURPOSE: ECON DEVELOPMENT | $8,280 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Harristown Development Corporation Harrisburg, PA | $29,766,695 | $19,028,512 |
Community Action Of South Eastern West Virginia Bluefield, WV | $9,324,400 | $12,779,130 |
Cintrifuse Cincinnati, OH | $9,097,086 | $17,758,065 |
Walnut Hills Redevelopment Foundation Inc Cincinnati, OH | $7,399,538 | $1,025,062 |
Greater Jamaica Development Corp Jamaica, NY | $43,416,674 | $8,397,998 |
South Bronx Overall Economic Development Corporation Bronx, NY | $11,273,834 | $9,485,057 |
National Basketball Association Foundation New York, NY | $26,984,536 | $31,000,000 |
Newark Downtown District Management Corporation Newark, NJ | $7,203,712 | $5,205,083 |
Maryland Manufacturing Service Inc Salisbury, MD | $279,305 | $5,207,545 |
Rdc Commercial Center Inc Brooklyn, NY | $15,313,985 | $4,091,889 |
Pittsburgh Downtown Partnership Pittsburgh, PA | $5,197,454 | $6,457,703 |
Grow America Fund Inc Brooklyn, NY | $143,748,091 | $12,181,976 |