Zion Non-Profit Corporation
- Assets
- $8.3m
- Revenue
- $244.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Philadelphia, PA
- Founding
- 12/1966
- Data as of
- 12/2022
- EIN
- 23-6421087
Organization Overview
Zion Non-Profit Corporation is located in Philadelphia, PA. The organization was established in 1966. According to its NTEE Classification (L21) the organization is classified as: Low-Income & Subsidized Rental Housing, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Zion Non-Profit Corporation is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2022, Zion Non-Profit Corporation generated $244.6k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 66.0% each year . All expenses for the organization totaled $35.3k 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
TO PROMOTE THE WELFARE OF THE NEEDY, ELDERLY AND HANDICAPPED FAMILIES THROUGH THE PROVISION OF HOUSING FOR LOW AND MODERATE INCOME INDIVIDUALS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ZION NON-PROFIT CORPORATION (A COMMONWEALTH OF PENNSYLVANIA NOT FOR PROFIT CORPORATION) (THE "CORPORATION") WAS ORGANIZED TO OWN AND OPERATE A 94-UNIT APARTMENT COMMUNITY IN PHILADELPHIA, PENNSYLVANIA, KNOWN AS ZION GARDENS (THE "COMMUNITY"). ITS SPONSOR IS ZION BAPTIST CHURCH.THE CORPORATION LEASED ITS LOW INCOME HOUSING BUILDING ON DECEMBER 23, 2014 TO ZION GARDENS LP. ALL RENTAL OPERATIONS FOR ZION NON-PROFIT CORPORATION CEASED AS OF DECEMBER 23, 2014. ZION NON-PROFIT CORPORATION EXISTS AND HOLDS TITLE TO THE BUILDINGS AND LAND FOR PURPOSES OF A LOW-INCOME HOUSING TAX CREDIT PROGRAM FOR USE BY LOW-INCOME PERSONS.THE CORPORATION PLANS TO USE THE PROCEEDS FROM THE LEASING OF ZION GARDENS TO DEVELOP THE AREA AROUND ZION BAPTIST CHURCH WITH LOW-INCOME HOUSING. CURRENTLY THE CORPORATION IS WORKING OUT A RELATIONSHIP WITH REGARDS TO PROPERTY OWNED BY ANOTHER CHURCH ENTITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ronald J Harper ESQ Chairman | OfficerTrustee | 2 | $0 |
Charlita Latham-Martin Director | Trustee | 1 | $0 |
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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $240,618 |
| 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 | $244,618 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $19,707 |
| Fees for services: Accounting | $3,500 |
| 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 | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $12,000 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $35,255 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $864 |
| Savings and temporary cash investments | $1,109,007 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $337,303 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $4,584,678 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $25,865 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,270,768 |
| Total assets | $8,328,485 |
| Accounts payable and accrued expenses | $27,485 |
| 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 | $0 |
| Other liabilities | $0 |
| Total liabilities | $27,485 |
| Net assets without donor restrictions | $8,301,000 |
| 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 | $8,328,485 |