Middletown Redevelopment Corporation
- Assets
- $3.4m
- Revenue
- $37.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Middletown, NJ
- Founding
- 08/1997
- Data as of
- 06/2023
- EIN
- 31-1475930
Organization Overview
Middletown Redevelopment Corporation is located in Middletown, NJ. The organization was established in 1997. According to its NTEE Classification (L02) the organization is classified as: Management & Technical Assistance, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Middletown Redevelopment 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 06/2023, Middletown Redevelopment Corporation generated $37.8k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 9.1% each year. All expenses for the organization totaled $68.3k during the year ending 06/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PRIMARY PURPOSE IS TO DIRECTLY OR INDIRECTLY BUILD, DEVELOP, FINANCE, PURCHASE, REHABILITATE, OWN, SELL, OPERATE AND/OR OTHERWISE PROVIDE QUALITY, AFFORDABLE HOUSING FACILITIES AND SERVICES TO ELDERLY, DISABLED OR VETERAN INDIVIDUALS WITH VERY LOW, LOW, AND MODERATE INCOMES IN THE GREATER MIDDLETOWN COMMUNITY, SPECIFICALLY DESIGNED TO IMPROVE THE RESIDENTS' QUALITY OF LIFE BY MEETING THEIR PHYSICAL, SOCIAL AND PSYCHOLOGICAL NEEDS AND PROMOTING THEIR HEALTH, SECURITY AND HAPPINESS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Kolber President | 1 | $0 | |
Anthony Bruno Vice Preside | 1 | $0 | |
Edward Skelly Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $37,833 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $37,833 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $6,135 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $4,898 |
| Total operating and administrative expenses | $68,264 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $68,264 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,401,075 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $3,401,075 |
| Accounts payable and accrued expenses | $2,135 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $2,135 |