Homes Of Montclair Ecumenical Corp
- Assets
- $4.9m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 8
- Location
- Montclair, NJ
- Founding
- 12/1988
- Data as of
- 06/2019
- EIN
- 22-2904529
Organization Overview
Homes Of Montclair Ecumenical Corp is located in Montclair, NJ. The organization was established in 1988. 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 06/2019, Homes Of Montclair Ecumenical Corp employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Homes Of Montclair Ecumenical 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 06/2019, Homes Of Montclair Ecumenical Corp generated $1.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (10.3%) each year. All expenses for the organization totaled $1.1m during the year ending 06/2019. 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
2019
Describe the Organization's Mission:
Part 3 - Line 1
HOMES OF MONTCLAIR ECUMENCIAL CORPORATION IS A COMMUNITY BASED NON-PROFIT ORGANIZATION FORMED IN 1988 TO IMPROVE AND DEVELOP HOUSING IN MONTCLAIR. HOMECORP CREATES AND MAINTAINS HOUSING THAT PRESERVES ECONOMIC DIVERSITY AND IGNITES COMMUNITY REVITALIZATION WHILE FOSTERING FINANCIAL EMPOWERMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HOMECORP PROVIDED PROPERTY MANAGEMENT AND MAINTENANCE SERVICES TO 62 RENTAL UNITS IN MONTCLAIR.
HOMECORP OFFERED HUD CERTIFIED FIRST TIME HOMEBUYER SEMINARS, AND HOUSING COUNSELING TO 32 PARTICIPANTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Melody Federico Exec Director | Officer | 40 | $78,750 |
David Grill President | OfficerTrustee | 2 | $0 |
Wodline Hippolyte Secretary | OfficerTrustee | 1 | $0 |
Merle Martin Secretary | OfficerTrustee | 1 | $0 |
Shelley Phillips Trustee | Trustee | 1 | $0 |
Sandy Castor Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $381,076 |
| Investment income | $687 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$9,746 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,059,881 |
| 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. | $105,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $107,553 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,460 |
| Payroll taxes | $20,811 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $50,464 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $996 |
| Advertising and promotion | $0 |
| Office expenses | $32,884 |
| Information technology | $11,560 |
| Royalties | $0 |
| Occupancy | $203,712 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $143,156 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $150,721 |
| Insurance | $85,375 |
| All other expenses | $0 |
| Total functional expenses | $1,073,363 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $14,285 |
| Savings and temporary cash investments | $100,687 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $20,237 |
| 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 | $7,173 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $186,856 |
| Total assets | $4,942,980 |
| Accounts payable and accrued expenses | $80,275 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $77,353 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $155,000 |
| Secured mortgages and notes payable | $4,657,732 |
| Unsecured mortgages and notes payable | $21,000 |
| Other liabilities | $0 |
| Total liabilities | $4,991,360 |
| Net assets without donor restrictions | -$153,143 |
| Net assets with donor restrictions | $104,763 |
| 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 | -$48,380 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Homes Of Montclair Ecumenical Corp has recieved totaling $10,173.
| Awarding Organization | Amount |
|---|---|
Coastal Community Foundation Of South Carolina Inc N Charleston, SC PURPOSE: HUMAN NEEDS GRANT | $10,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $173 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Shared Support South Inc Warrington, PA | $9,549,705 | $20,704,692 |
Viecare Butler Llc Cranberry Township, PA | $15,820,808 | $20,591,438 |
Valley View Haven Inc Belleville, PA | $35,512,325 | $21,268,828 |
The Arc Morris County Chapter Nj Inc Morris Plains, NJ | $23,360,035 | $22,219,596 |
Pathways To Housing Pa Philadelphia, PA | $7,362,789 | $17,371,070 |
Reach Riverside Development Corporation Wilmington, DE | $31,775,413 | $42,220,664 |
Jewish Federation Housing Development Fund Company Buffalo, NY | $0 | $1,951,149 |
Alfa Development Inc Newfoundland, NJ | $12,469,438 | $16,200,874 |
Grand Central District Management Association Inc New York, NY | $3,484,616 | $12,729,561 |
Westbeth Corp Housing Development Fund Company Inc New York, NY | $62,389,155 | $10,191,211 |
Community Action Agency Of Delaware County Inc Boothwyn, PA | $15,976,339 | $8,682,122 |
Brighton Beach Housing Development Fund Company Inc New York, NY | $22,060,771 | $3,270,016 |