Passyunk Avenue Revitalization Corporation
- Assets
- $7.0m
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 1
- Location
- Philadelphia, PA
- Founding
- 08/1999
- Data as of
- 12/2023
- EIN
- 23-2973751
Organization Overview
Passyunk Avenue Revitalization Corporation is located in Philadelphia, PA. The organization was established in 1999. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Passyunk Avenue Revitalization 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 12/2023, Passyunk Avenue Revitalization Corporation generated $1.3m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 8.2% each year. All expenses for the organization totaled $1.4m during the year ending 12/2023. 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
NON-PROFIT REAL ESTATE DEVELOPMENT/MANAGEMENT COMPANY AND PUBLIC SPACE MAINTENANCE
Describe the Organization's Program Activity:
Part 3 - Line 4a
COMMUNITY IMPROVEMENT INITIATIVES: ACQUIRED, RENOVATED, AND REHABILITATED BUILDINGS TO PROMOTE NEIGHBORHOOD BETTERMENT IN THE COMMUNITY. ACQUIRED PROPERTIES WERE BOTH COMMERCIAL AND RESIDENTIAL. PROVIDED COMMUNITY SUPPORT AND CLEANING SERVICES TO MAINTAIN THESE NEIGHBORHOODS IN A CLEAN AND SAFEENVIRONMENT. THE ORGANIZATION PROVIDES CLEANING SERVICES IN A PARTNERSHIP WITH THE CITY OF PHILADELPHIA IN THE WASHINGTON AVENUE, BROAD STREET AND SNYDER AVENUE AREAS, WORKING TOWARDS THE GOAL TO REDUCE LITTER AND ILLEGAL DUMPING AND PROVIDE A CLEAN APPEARANCE FOR BOTH RESIDENTS AND VISITING PUBLIC AND CREATE EMPLOYMENT OPPORTUNITIES. THE ORGANIZATION PROVIDES PRIMARY SIDEWALK CLEANING SUPPORT FOR THE EAST PASSYUNK AVENUE BUSINESS IMPROVEMENT DISTRICT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alex Balloon Executive Dir. | Officer | 40 | $101,650 |
Peter Angelides Chairman | OfficerTrustee | 5 | $0 |
Laura Slutsky Vice Chairman | OfficerTrustee | 1 | $0 |
Sarah Anton Secretary | OfficerTrustee | 1 | $0 |
David Goldfarb Treasurer | OfficerTrustee | 1 | $0 |
Dimitria Davenport Member | Trustee | 0.25 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Gab Construction Construction | 12/30/15 | $124,846 |
Abm Atlantic Inc Cleaning Service | 12/30/15 | $312,455 |
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 | $486,830 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $486,830 |
| Total Program Service Revenue | $753,895 |
| Investment income | $18,922 |
| 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 | $1,318,254 |
| 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. | $101,650 |
| Compensation of current officers, directors, key employees. | $15,247 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,514 |
| Payroll taxes | $8,268 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $30,800 |
| Fees for services: Accounting | $54,698 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $33,393 |
| Advertising and promotion | $0 |
| Office expenses | $46,154 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $10,033 |
| Travel | $0 |
| 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 | $222,295 |
| Insurance | $30,823 |
| All other expenses | $0 |
| Total functional expenses | $1,386,263 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $132,885 |
| Savings and temporary cash investments | $932,070 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $92,193 |
| 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 | $10,455 |
| Net Land, buildings, and equipment | $5,614,512 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $204,777 |
| Total assets | $6,986,892 |
| Accounts payable and accrued expenses | $47,110 |
| Grants payable | $0 |
| Deferred revenue | $34,680 |
| 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 | $1,747,853 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $82,370 |
| Total liabilities | $1,912,013 |
| Net assets without donor restrictions | $5,074,879 |
| 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 | $6,986,892 |