Cole Street Development Corporation
- Assets
- $10.0m
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 3
- Location
- Marietta, GA
- Founding
- 11/2010
- Data as of
- 12/2021
- EIN
- 26-4536445
Organization Overview
Cole Street Development Corporation is located in Marietta, GA. The organization was established in 2010. According to its NTEE Classification (S21) the organization is classified as: Community Coalitions, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Cole Street Development Corporation employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cole Street Development 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 12/2021, Cole Street Development Corporation generated $1.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.4% each year. All expenses for the organization totaled $652.3k during the year ending 12/2021. While expenses have increased by 8.9% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
RESPOND TO AFFORDABLE HOUSING NEEDS BY ACQUIRING RESOURCES, FINANCIAL AND OTHERWISE, AND APPLYING THEM TO ELIGIBLE PUBLIC-PRIVATE PROJECTS IN A MANNER THAT MAXIMIZES BENEFITS TO THE COUNTY AND IS FULLY COMPLIANT WITH THE GOVERNMENTAL HOUSING PROGRAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RESPOND TO THE AFFORDABLE HOUSING NEEDS BY ACQUIRING RESOURCES, FINANCIAL AND OTHERWISE, AND APPLYING THEM TO ELIGIBLE PUBLIC-PRIVATE PROJECTS IN A MANNER THAT MAXIMIZES BENEFITS TO THE COUNTY AND IS FULLY COMPLIANT WITH THE GOVERNMENTAL HOUSING PROGRAMS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brian Mcnair CEO | Officer | 40 | $0 |
Ken Dollar Chair | Trustee | $0 | |
Liz Cole Treasurer/se | Trustee | $0 | |
Latasha Harmon Director | Trustee | $0 | |
Laing Heidt Vice Chair | Trustee | $0 | |
Mitch Hunter Director | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $848,688 |
| 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 | $848,688 |
| Total Program Service Revenue | $374,638 |
| Investment income | $41,517 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $90,068 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,354,911 |
| 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 | $74,762 |
| Other salaries and wages | $65,202 |
| Pension plan accruals and contributions | $2,006 |
| Other employee benefits | $7,019 |
| Payroll taxes | $3,992 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,155 |
| Fees for services: Accounting | $20,750 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $187 |
| Office expenses | $2,300 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $2,960 |
| Travel | $849 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $4,096 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $187,398 |
| Insurance | $38,313 |
| All other expenses | $16,646 |
| Total functional expenses | $652,308 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $250,343 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $755,392 |
| Accounts receivable, net | $7,405 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $4,998,456 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $19,663 |
| Net Land, buildings, and equipment | $3,925,750 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $9,957,009 |
| Accounts payable and accrued expenses | $129,485 |
| Grants payable | $0 |
| Deferred revenue | $530 |
| 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 | $2,850,437 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $358,288 |
| Total liabilities | $3,338,740 |
| Net assets without donor restrictions | $6,618,269 |
| 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 | $9,957,009 |
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