700 Prospect Corporation
- Assets
- $3.7m
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 5
- Location
- Cleveland, OH
- Founding
- 07/1991
- Data as of
- 12/2021
- EIN
- 34-1679244
Organization Overview
700 Prospect Corporation is located in Cleveland, OH. The organization was established in 1991. According to its NTEE Classification (X19) the organization is classified as: Support N.E.C., under the broad grouping of Religion-Related and related organizations. As of 12/2021, 700 Prospect Corporation employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. 700 Prospect 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 12/2021, 700 Prospect Corporation generated $1.4m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.3%) each year. All expenses for the organization totaled $1.0m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (3.6%) per year over the past 7 years. 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
PROVIDES OFFICE FACILITIES FOR THE CONDUCT OF THE RELIGIOUS, CHARITABLE, AND EDUCATIONAL ACTIVITIES
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE OFFICE FACILITIES FOR THE CONDUCT OF THE RELIGIOUS, CHARITABLE, AND EDUCATIONAL ACTIVITIES OF THE UNITED CHURCH OF CHRIST AND ITS AFFILIATED CHARITABLE AND EDUCATIONAL ORGANIZATIONS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Dorhauer President | OfficerTrustee | 1 | $0 |
Tami Marinella Treasurer | OfficerTrustee | 1 | $0 |
Heather Kimmel Secretary | OfficerTrustee | 1 | $0 |
Traci Blackmon Trustee | Trustee | 1 | $0 |
Karen Georgia Thompson Trustee | Trustee | 1 | $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 | $1,391,944 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$74 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$10 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,406,810 |
| 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 | $140,666 |
| Pension plan accruals and contributions | $10,254 |
| Other employee benefits | $48,476 |
| Payroll taxes | $14,160 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,475 |
| Fees for services: Accounting | $12,300 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $197,866 |
| Advertising and promotion | $0 |
| Office expenses | $13,184 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $157,091 |
| Travel | $81 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $27,295 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $189,018 |
| Insurance | $99,449 |
| All other expenses | $0 |
| Total functional expenses | $1,043,339 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,127,571 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $19,573 |
| 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 | $1,100 |
| Net Land, buildings, and equipment | $2,536,828 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,685,072 |
| Accounts payable and accrued expenses | $50,121 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $925,000 |
| Other liabilities | $0 |
| Total liabilities | $975,121 |
| Net assets without donor restrictions | $2,709,951 |
| 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 | $3,685,072 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lenawee Christian Ministries Adrian, MI | $16,213,867 | $3,774,846 |
Christian Aid Ministries Foundation Berlin, OH | $25,604,202 | $11,173,099 |
Harrison Center For The Arts Inc Indianapolis, IN | $3,906,495 | $1,400,316 |
Mission French Africa Ministries Grand Rapids, MI | $274,155 | $1,230,923 |
700 Prospect Corporation Cleveland, OH | $3,685,072 | $1,406,810 |
Healing Care Ministries West Salem, OH | $966,143 | $972,498 |
Cathedral Childcare Inc Philadelphia, PA | $5,712 | $480,016 |
Middle East Reformed Fellowship Subsidiary Company Holland, MI | $1,413,597 | $535,552 |
Malachi Network Inc Quarryville, PA | $0 | $490,013 |
Connect The World Camp Hill, PA | $114,192 | $444,246 |
Davids Well Incorporated Noblesville, IN | $192,816 | $347,815 |
Biblical Counseling Coalition Inc Lafayette, IN | $73,764 | $250,024 |