Tremont West Development Corporation
- Assets
- $1.5m
- Revenue
- $858.8k
- Investments
- $0.0
- Employees
- 8
- Location
- Cleveland, OH
- Founding
- 08/1969
- Data as of
- 06/2021
- EIN
- 23-7029247
Organization Overview
Tremont West Development Corporation is located in Cleveland, OH. The organization was established in 1969. 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. As of 06/2021, Tremont West Development Corporation employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tremont West 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 06/2021, Tremont West Development Corporation generated $858.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (7.8%) each year. All expenses for the organization totaled $821.8k during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (1.0%) per year over the past 7 years. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TREMONT WEST DEVELOPMENT CORP SERVES TREMONT BY ORGANIZING AN INCLUSIVE COMMUNITY, BUILDING A UNIFIED NEIGHBORHOOD, AND PROMOTING A UNIQUE DESTINATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WE DO THIS THROUGH FOCUSING ON THE FOLLOWING STRATEGIC GOALS: COMPREHENSIVE COMMUNITY BUILD A DENSE NEIGHBORHOOD WITH A COMPREHENSIVE AND DIVERSE SET OF HOUSING OPTIONS AND BUSINESS ATTRACTIONS THAT APPEAL TO ALLRESIDENTS AND VISITORS.CONNECTED COMMUNITYORGANIZE AN INCLUSIVE AND CONNECTED COMMUNITY THROUGH MEANINGFUL ENGAGEMENT AND EQUITABLE PHYSICAL AND SOCIAL INFRASTRUCTURE THAT CREATES SEAMLESS LINKAGES AND INCREASES ACCESSIBILITY FOR EVERYONE.
COLLABORATIVE COMMUNITYWORK TRANSPARENTLY IN COLLABORATION WITH RESIDENTS, BUSINESS LEADERS, AND EXTERNAL COMMUNITY PARTNERS TO MAXIMIZE RESOURCES AND EXECUTE NEIGHBORHOOD PLANSRESILIENT COMMUNITYCREATE RESILIENT COMMUNITY BY USING INNOVATIVE PRACTICES TO RESPOND TO ADVERSE SITUATIONS AND THAT AFFORDS ALL PEOPLE THE OPPORTUNITY TO ADVANCE, LIVE HEALTHLY LIVES, AND THRIVE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cory Riordan Executive Director | Officer | 40 | $83,757 |
Seronica Powell 1st Vice President | OfficerTrustee | 6 | $0 |
Joe Chura President | OfficerTrustee | 6 | $0 |
Lynn Mclaughlin Murray 2nd Vice President | OfficerTrustee | 6 | $0 |
Pahtini Tosuksri Secretary | OfficerTrustee | 6 | $0 |
Dan Imfeld Treasurer | OfficerTrustee | 6 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $706,423 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $99,241 |
| 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 | $858,783 |
| 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. | $83,757 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $302,868 |
| Pension plan accruals and contributions | $10,674 |
| Other employee benefits | $69,262 |
| Payroll taxes | $27,320 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $19,235 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $4,646 |
| Office expenses | $23,658 |
| Information technology | $5,322 |
| Royalties | $0 |
| Occupancy | $82,880 |
| Travel | $267 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $22,447 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $20,855 |
| Insurance | $18,034 |
| All other expenses | $0 |
| Total functional expenses | $821,797 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $190,238 |
| Savings and temporary cash investments | $122,443 |
| Pledges and grants receivable | $130,985 |
| Accounts receivable, net | $8,471 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $444,649 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $6,827 |
| Investments—publicly traded securities | $101,792 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $28,829 |
| Total assets | $1,507,868 |
| Accounts payable and accrued expenses | $118,145 |
| 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 | $371,894 |
| Unsecured mortgages and notes payable | $129,399 |
| Other liabilities | $11,310 |
| Total liabilities | $630,748 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $877,120 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Tremont West Development Corporation has recieved totaling $36.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $36 |
Endowment Analysis
| Beg. Balance | $77,139 |
| Earnings | $26,274 |
| Ending Balance | $103,413 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Urban Affairs Coalition Philadelphia, PA | $25,704,306 | $97,554,481 |
Impact Community Action Columbus, OH | $17,964,278 | $51,062,093 |
Reinvestment Fund Inc Philadelphia, PA | $609,259,384 | $44,624,452 |
Akron Summit Community Action Agency Akron, OH | $9,053,133 | $31,825,266 |
Hocking-Athens Perry Community Action Glouster, OH | $22,374,760 | $30,742,269 |
Capital Area Community Services Inc Lansing, MI | $6,281,706 | $28,298,422 |
Indianapolis Foundation Inc Indianapolis, IN | $352,748,809 | $43,731,535 |
Blueprints Washington, PA | $9,542,152 | $23,150,876 |
Pennyrile Allied Community Services Inc Hopkinsville, KY | $9,618,726 | $22,758,893 |
Jumpstart Inc Cleveland, OH | $82,356,707 | $21,511,113 |
Lexington Center Corporation Lexington, KY | $378,439,328 | $16,156,810 |
Corporation For Ohio Appalachian Development Athens, OH | $7,078,759 | $21,339,241 |