Renew East Lyme Inc
- Assets
- $124.6k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Niantic, CT
- Founding
- 10/2001
- Data as of
- 06/2022
- EIN
- 31-1779945
Organization Overview
Renew East Lyme Inc is located in Niantic, CT. The organization was established in 2001. According to its NTEE Classification (S31) the organization is classified as: Urban & Community Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Renew East Lyme Inc 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 06/2022, Renew East Lyme Inc generated $151.7k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 18.1% each year . All expenses for the organization totaled $76.9k during the year ending 06/2022. While expenses have increased by 10.9% 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
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3
TO PROMOTE AND IMPLEMENT DOWNTOWN COMMERCIAL CENTER REVITALIZATION EFFORTS IN THE VILLAGES OF THE TOWN OF EAST LYME.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Carol Faye Secretary | 5 | $0 | |
Susan Kumro Vice President | 5 | $0 | |
John Schweizer Director | 0 | $0 | |
Daniel Walsh President | 5 | $0 | |
James Capodiece Director | 0 | $0 | |
Teri Smith Treasurer | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $73,188 |
| Total Program Service Revenue | $78,487 |
| Membership dues | $0 |
| Investment income | $25 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $151,700 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $2,281 |
| Professional fees and other payments to independent contractors | $16,500 |
| Occupancy, rent, utilities, and maintenance | $1,909 |
| Printing, publications, postage, and shipping | $338 |
| Other expenses | $55,917 |
| Total expenses | $76,945 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $120,414 |
| Other assets | $0 |
| Total assets | $124,586 |
| Total liabilities | $568 |
| Net assets or fund balances | $124,018 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Renew East Lyme Inc has recieved totaling $1,000.
| Awarding Organization | Amount |
|---|---|
Dominion Energy Charitable Foundation Richmond, VA PURPOSE: NIANTIC BAY BOARDWALK 5K EVENT SPONSORSHIP | $1,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Greater Jamaica Development Corp Jamaica, NY | $43,416,674 | $8,397,998 |
South Bronx Overall Economic Development Corporation Bronx, NY | $11,273,834 | $9,485,057 |
Dorchester Bay Economic Development Corporation Dorchester, MA | $50,118,730 | $16,286,134 |
National Basketball Association Foundation New York, NY | $26,984,536 | $31,000,000 |
Rdc Commercial Center Inc Brooklyn, NY | $15,313,985 | $4,091,889 |
Grow America Fund Inc Brooklyn, NY | $143,748,091 | $12,181,976 |
Upper Manhattan Empowerment Zone Development Corporation New York, NY | $90,632,786 | $3,433,188 |
Hester Street Collaborative Inc New York, NY | $3,142,438 | $5,168,829 |
Economic Development Growth Enterprises Corporation Rome, NY | $36,316,583 | $3,664,365 |
Gmdc Two Inc Brooklyn, NY | $16,510,385 | $3,368,424 |
Flatbush Development Corporation Brooklyn, NY | $2,354,911 | $3,995,581 |
Biobat Inc Brooklyn, NY | $27,575,878 | $3,841,164 |