Sheraden Park Development Inc

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.

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)Compensation
Ralph Hamilton
President
$0
Leslie Beck
Vice Preside
$0
Linda Conley
Secretary
$0
Pat Woods
Board Member
$0
Jack Kudrav
Treasurer
$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

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