Sheraden Park Development Inc
- Assets
- $2.3m
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 4
- Location
- Pittsburgh, PA
- Founding
- Data as of
- 12/2022
- EIN
- 25-1145815
Organization Overview
Sheraden Park Development Inc is located in Pittsburgh, PA. According to its NTEE Classification (L50) the organization is classified as: Homeowners & Tenants Associations, under the broad grouping of Housing & Shelter and related organizations. As of 12/2022, Sheraden Park Development Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sheraden Park Development Inc 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, Sheraden Park Development Inc generated $1.2m in total revenue. This represents relatively stable growth, over the past 3 years the organization has increased revenue by an average of 0.6% each year. All expenses for the organization totaled $1.2m during the year ending 12/2022. While expenses have increased by 1.9% per year over the past 3 years. They've been increasing with an increasing level of total revenue. 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
SHERADEN PARK DEVELOPMENT, INC. IS A PENNSYLVANIA NONPROFIT CORPORATION PROVIDING 188 AFFORDABLE CO-OPERATIVE HOUSING UNITS ALONG WITH COMMUNITY FACILITIES TO MEMBERS ON A NON-PROFIT BASIS. THE PROPERTY IS SITUATED ON ALLENDALE CIRCLE IN THE CITY OF PITTSBURGH. ROADS ARE MAINTAINED BY THE CITY OF PITTSBURGH AND PLAYGROUNDS ARE OPEN TO THE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CO-OPERATIVE IS FUNDED BY MONTHLY CARRYING CHARGES DUE ON THE FIRST OF THE MONTH BY MEMBERS OF THE COOPERATIVE CORPORATION AS DEFINED IN THE OCCUPANCY AGREEMENT. SUCH CHARGES ARE BASED ON THE SIZE OF THE UNIT CURRENTLY RANGING FROM 522 TO 541 MONTHLY. THESE CHARGES ARE BASED ON AN ANNUAL BUDGET ESTABLISHED BY THE BOARD OF THE CO-OPERATIVE.
IF A MEMBER DESIRES TO LEAVE THE PROJECT, HE IS TO NOTIFY THE CO-OP IN WRITING AND THE CO-OP HAS A THIRTY DAY OPTION TO PURCHASE THE MEMBERSHIP. IN SUCH CASE, THE CO-OP WILL MAKE NECESSARY REPAIRS AND RESELL THE MEMBERSHIP.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ralph Hamilton President | OfficerTrustee | 4 | $0 |
Leslie Beck Vice Preside | OfficerTrustee | 2 | $0 |
Linda Conley Secretary | OfficerTrustee | 2 | $0 |
Pat Woods Board Member | OfficerTrustee | 2 | $0 |
Jack Kudrav Treasurer | OfficerTrustee | 2 | $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 | $1,212,440 |
| Investment income | $0 |
| 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 | $1,212,440 |
| 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 | $179,157 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $22,492 |
| Payroll taxes | $16,129 |
| Fees for services: Management | $105,581 |
| Fees for services: Legal | $5,703 |
| Fees for services: Accounting | $5,300 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $8,942 |
| Advertising and promotion | $0 |
| Office expenses | $10,195 |
| Information technology | $14,941 |
| Royalties | $0 |
| Occupancy | $639,323 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $709 |
| Interest | $2,222 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $119,557 |
| Insurance | $84,905 |
| All other expenses | $0 |
| Total functional expenses | $1,215,156 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $144,431 |
| Savings and temporary cash investments | $37,482 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,683 |
| 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 | $1,940,162 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $217,382 |
| Total assets | $2,346,140 |
| Accounts payable and accrued expenses | $16,928 |
| Grants payable | $0 |
| Deferred revenue | $26,262 |
| 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 | $36,376 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $223,422 |
| Total liabilities | $302,988 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $90,433 |
| Paid-in or capital surplus, or land, building, or equipment fund | $4,767,071 |
| Retained earnings, endowment, accumulated income, or other funds | -$2,814,352 |
| Total liabilities and net assets/fund balances | $2,346,140 |