Northeastern Resources Development Corp
- Assets
- $6.0m
- Revenue
- $478.6k
- Investments
- $0.0
- Employees
- 5
- Location
- Wilkesbarre, PA
- Founding
- 06/1987
- Data as of
- 12/2022
- EIN
- 23-2430202
Organization Overview
Northeastern Resources Development Corp is located in Wilkesbarre, PA. The organization was established in 1987. According to its NTEE Classification (P20) the organization is classified as: Human Service Organizations, under the broad grouping of Human Services and related organizations. As of 12/2022, Northeastern Resources Development Corp employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Northeastern Resources Development 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 12/2022, Northeastern Resources Development Corp generated $478.6k 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 $514.1k during the year ending 12/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
IMPROVE SERVICE DELIVERY TO LOW-INCOME PERSONS AND SUPPORT COLLEGE ENTRY BY LOW-INCOME YOUTHS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING LONG-RANGE PLANNING, MANAGEMENT, ADMINISTRATIVE AND DEVELOPMENT SERVICES TO THE COMMISSION ON ECONOMIC OPPORTUNITY AND OTHER HUMAN SERVICE ORGANIZATIONS.
ESTABLISH AND FUND A SCHOLARSHIP AWARD FOR LOW INCOME, ACADEMICALLY TALENTED GRADUATES OF LUZERNE COUNTY HIGH SCHOOLS. (IRS APPROVAL - 1988)
PROVIDE LEGAL RESEARCH, REPRESENTATION AND SUPPORT TO AFFILIATED ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joseph Carmody Chairman | OfficerTrustee | 1 | $0 |
Joseph Vullo Secretary | OfficerTrustee | 1 | $0 |
Attorney Thomas Kennedy Director | OfficerTrustee | 1 | $0 |
Frank Crossin Board Member | OfficerTrustee | 1 | $0 |
David Ritter Board Member | OfficerTrustee | 1 | $0 |
Eugene Brady President | OfficerTrustee | 10 | $40,970 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $430,383 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $430,383 |
| Total Program Service Revenue | $0 |
| Investment income | $91,326 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$30,081 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $478,599 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $21,225 |
| Grants and other assistance to domestic individuals. | $88,950 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $40,970 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $62,670 |
| Pension plan accruals and contributions | $39,976 |
| Other employee benefits | $0 |
| Payroll taxes | $42,346 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $143,742 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $8,439 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,952 |
| Insurance | $7,298 |
| All other expenses | $0 |
| Total functional expenses | $514,129 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $87,596 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $26,858 |
| Investments—publicly traded securities | $5,068,128 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $798,164 |
| Total assets | $5,980,746 |
| Accounts payable and accrued expenses | $97,132 |
| Grants payable | $93,750 |
| 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 | $0 |
| Other liabilities | $363,862 |
| Total liabilities | $554,744 |
| Net assets without donor restrictions | $5,418,277 |
| Net assets with donor restrictions | $7,725 |
| 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 | $5,980,746 |
Grants Awarded
Over the last fiscal year, Northeastern Resources Development Corp has awarded $54,150 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
DETAIL SCHEDULE RETAINED PURPOSE: TO CONTINUE THE ORGANIZATION'S TAX EXEMPT PURPOSE | $54,150 |