Holly City Development Corporation
- Assets
- $1.4m
- Revenue
- $1.0m
- Investments
- $0.0
- Employees
- 5
- Location
- Millville, NJ
- Founding
- 02/1999
- Data as of
- 09/2023
- EIN
- 22-3614788
Organization Overview
Holly City Development Corporation is located in Millville, NJ. The organization was established in 1999. 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 09/2023, Holly City Development Corporation employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Holly City 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 09/2023, Holly City Development Corporation generated $1.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (3.8%) each year. All expenses for the organization totaled $1.0m during the year ending 09/2023. As we would expect to see with falling revenues, expenses have declined by (6.4%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2021, Holly City Development Corporation has awarded 27 individual grants totaling $310,774. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
CONTINUOUS COMMUNITY RENEWAL THROUGH THE AREAS OF: DEVELOPMENT AND REDEVELOPMENT OF REAL ESTATE; HOUSING CONSTRUCTION, REHABILITATION AND FINANCING; COMMUNITY BUILDING AND RESIDENT ENGAGEMENT AND ECONOMOIC DEVELOPMENT
Describe the Organization's Program Activity:
Part 3 - Line 4a
ASSIST IN THE REDEVELOPMENT OF CENTER-CITY MILLVILLE TO IMPROVE THE QUALITY OF LIFE FOR THE RESIDENTS OF THE CITY OF MILLVILLE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Depalma Trustee | Trustee | 0.5 | $0 |
John Knoop Vice Chair | OfficerTrustee | 0.5 | $0 |
James Parent Board Chair | OfficerTrustee | 0.5 | $0 |
Tina Gillam Trustee | Trustee | 0.5 | $0 |
Paula Ring Secretary | OfficerTrustee | 0.5 | $0 |
Curtis Zimmerman Trustee | OfficerTrustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $664,652 |
| All other contributions, gifts, grants, and similar amounts not included above | $220,524 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $885,176 |
| Total Program Service Revenue | $153,819 |
| Investment income | $76 |
| 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 | $1,039,071 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $73,530 |
| 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. | $126,657 |
| Compensation of current officers, directors, key employees. | $20,850 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $8,381 |
| Payroll taxes | $12,696 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $24,037 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $84,868 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $33,629 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,500 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $24,173 |
| Insurance | $14,246 |
| All other expenses | $25,039 |
| Total functional expenses | $1,037,337 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $531,451 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $155,560 |
| Accounts receivable, net | $24,357 |
| 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 | $4,733 |
| Net Land, buildings, and equipment | $726,971 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $1,523 |
| Other assets | $0 |
| Total assets | $1,444,595 |
| Accounts payable and accrued expenses | $1,971 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $150,000 |
| Other liabilities | $4,501 |
| Total liabilities | $156,472 |
| Net assets without donor restrictions | $1,270,615 |
| Net assets with donor restrictions | $17,508 |
| 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 | $1,444,595 |
Grants Awarded
Over the last fiscal year, Holly City Development Corporation has awarded $69,484 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
CU MAURICE RIVER PURPOSE: INTERNSHIP TRAINING PROGRAM | $6,929 |
EVERYTHING CLASSIE PURPOSE: INTERNSHIP TRAINING PROGRAM | $5,279 |
HOLLY CITY FAMILY CENTER PURPOSE: INTERNSHIP TRAINING PROGRAM | $15,129 |
MILLVILLE PUBLIC LIBRARY PURPOSE: INTERNSHIP TRAINING PROGRAM | $7,653 |
WILDFLOWER VEGAN CAFE PURPOSE: INTERNSHIP TRAINING PROGRAM | $34,494 |