Moravian Developement Corp
- Assets
- $14.7m
- Revenue
- $1.4m
- Investments
- -$135.8k
- Employees
- 16
- Location
- Bethlehem, PA
- Founding
- 07/2006
- Data as of
- 12/2023
- EIN
- 23-7117119
Organization Overview
Moravian Developement Corp is located in Bethlehem, PA. The organization was established in 2006. 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 12/2023, Moravian Developement Corp employed 16 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Moravian Developement 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 12/2023, Moravian Developement Corp generated $1.4m in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (0.5%) each year. All expenses for the organization totaled $569.5k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (4.0%) per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE MORAVIAN DEVELOPMENT CORPORATION'S MISSION IS TO PLAN, CONSTRUCT, REHABILITATE, IMPROVE, MAINTAIN, OPERATE, AND RENT HOUSING FOR LOWER INCOME FAMILIES, THE ELDERLY AND THE DISABLED ON A NONPROFIT BASIS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ALL COSTS ASSOCIATED WITH THE OPERATION AND RENTING OF HOUSING TO LOW INCOME, ELDERLY AND HANDICAPPED INDIVIDUALS ARE REFLECTED ON FORM 990 AS RENTAL EXPENDITURES AND NOT PROGRAM COSTS. PROGRAM COSTS CONSIST OF GRANTS TO OTHER NOT FOR PROFIT ENTITIES TO SUPPORT THEIR MISSION OUTREACH.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brad Senick Exe Vice President Mdc | Officer | 40 | $94,660 |
Mike Garganta Vice President Of Mdc | Officer | 40 | $85,150 |
Tracy Patton Director | Trustee | 1 | $0 |
Tom Demshock Director | Trustee | 1 | $0 |
Carol Henn Director | Trustee | 1 | $0 |
Kevin Kelleher Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Direct Energy Electrical Provider | 12/30/23 | $229,156 |
Gcfk Insurance Insurance Premiums | 12/30/23 | $123,084 |
Service Electric Cable Provider | 12/30/23 | $102,522 |
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 | $1,210,982 |
| Investment income | $134,863 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$859,931 |
| 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 | $1,370,732 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $60,000 |
| 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 | $405,859 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $33,850 |
| 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 | $69,840 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| 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 | $569,549 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,171,845 |
| Savings and temporary cash investments | $775,910 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $12,697 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $900,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $132,525 |
| Net Land, buildings, and equipment | $5,619,951 |
| Investments—publicly traded securities | $6,224,399 |
| Investments—other securities | -$135,812 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $14,701,515 |
| Accounts payable and accrued expenses | $118,419 |
| 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 | $153,935 |
| Total liabilities | $272,354 |
| Net assets without donor restrictions | $14,429,161 |
| 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 | $14,701,515 |
Grants Awarded
Over the last fiscal year, Moravian Developement Corp has awarded $436,952 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
BETHLEHEM AREA MORAVIANS PURPOSE: To support Mission Outreach | $30,000 |
BETHLEHEM AREA MORAVIANS PURPOSE: Cancellation of Mortgage to support the acquisition of historically significant property | $406,952 |