Cass Corridor Neighborhood Development Corporation
- Assets
- $3.6m
- Revenue
- $461.0k
- Investments
- $0.0
- Employees
- 4
- Location
- Detroit, MI
- Founding
- 04/1985
- Data as of
- 09/2021
- EIN
- 38-2442238
Organization Overview
Cass Corridor Neighborhood Development Corporation is located in Detroit, MI. The organization was established in 1985. According to its NTEE Classification (L25) the organization is classified as: Housing Rehabilitation, under the broad grouping of Housing & Shelter and related organizations. As of 09/2021, Cass Corridor Neighborhood Development Corporation employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cass Corridor Neighborhood Development 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 09/2021, Cass Corridor Neighborhood Development Corporation generated $461.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (14.4%) each year. All expenses for the organization totaled $524.5k during the year ending 09/2021. As we would expect to see with falling revenues, expenses have declined by (9.6%) per year over the past 6 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
NEIGHBORHOOD REVITALIZATION AND QUALITY LOW-COST HOUSING WITHIN CASS CORRIDOR
Describe the Organization's Program Activity:
Part 3 - Line 4a
EXPENSES INCURRED FOR THE DEVELOPMENT OF LOW INCOME HOUSING
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Patrick Dorn Executive Director | Officer | 40 | $102,926 |
Victor Lloyd Chairman | OfficerTrustee | 1 | $0 |
Marilynn Mullane Treasurer | OfficerTrustee | 1 | $0 |
George Mcmahon Secretary | OfficerTrustee | 1 | $0 |
Teri Page Director | Trustee | 1 | $0 |
Betty Bennett Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $32,500 |
| 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 | $32,500 |
| Total Program Service Revenue | $413,614 |
| 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 | $460,954 |
| 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. | $102,926 |
| Compensation of current officers, directors, key employees. | $20,585 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $54,151 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $898 |
| Payroll taxes | $12,062 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,398 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $44,624 |
| Advertising and promotion | $0 |
| Office expenses | $8,020 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $131,011 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $5,283 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $87,185 |
| Insurance | $25,695 |
| All other expenses | $973 |
| Total functional expenses | $524,453 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $101,998 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $166,805 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,453,339 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $26,998 |
| Net Land, buildings, and equipment | $636,781 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $188,356 |
| Total assets | $3,574,277 |
| Accounts payable and accrued expenses | $30,994 |
| 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 | $500,000 |
| Unsecured mortgages and notes payable | $95,361 |
| Other liabilities | $205,495 |
| Total liabilities | $831,850 |
| Net assets without donor restrictions | $2,742,427 |
| 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 | $3,574,277 |
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