Todmorden Foundation
- Assets
- $17.7m
- Revenue
- $2.1m
- Investments
- $6.0m
- Employees
- 0
- Location
- Wilmington, DE
- Founding
- 03/2013
- Data as of
- 12/2021
- EIN
- 38-3857086
Organization Overview
Todmorden Foundation is located in Wilmington, DE. The organization was established in 2013. According to its NTEE Classification (L22) the organization is classified as: Senior Citizens Housing & Retirement Communities, 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. Todmorden Foundation 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, Todmorden Foundation generated $2.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (6.0%) each year. All expenses for the organization totaled $90.5k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (19.3%) per year over the past 7 years. 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
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PRIMARY PURPOSE OF TODMORDEN IS TO PROVIDE LOW-INCOME HOUSING TO QUALIFIED RESIDENTS IN THE CITY OF WILMINGTON. LOW-INCOME THRESHHOLDS ARE ESTABLISHED ACCORDING TO DSHA GUIDELINES. WE CURRENTLY SERVE 221 INDIVIDUALS AND FAMILIES WHOSE INCOME FALLS BETWEEN 30% AND 60% OF THE AREA MEDIAN INCOME BY PROVIDING ONE-TO-THREE-BEDROOM RENTAL UNITS, ALL OF WHICH FALL WITHIN THE AFFORDABLE HOUSING CRITERIA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Benjamin Lovell President (p | 5 | $0 | |
Richard Przywara President | 20 | $0 | |
Donna Gooden Vice Preside | 20 | $0 | |
Matthew Lynch Chairman | 5 | $0 | |
Linda Outlaw Trustee | 5 | $0 | |
Thomas White Trustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Architectural Alliance Inc | 12/30/16 | $131,450 |
Landmark Engineering | 12/30/16 | $77,512 |
Autotemp Inc | 12/30/16 | $50,020 |
Landmark Engineering - Co Todmorden | 12/30/16 | $77,512 |
Autotemp Inc - Co Todmorden | 12/30/16 | $50,020 |
Architectural Alliance Inc - Co Todmorden | 12/30/16 | $131,450 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $1,943,823 |
| Interest on Savings | $306 |
| Dividends & Interest | $0 |
| Net Rental Income | $77,952 |
| 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 | $101,919 |
| Total Revenue | $2,124,000 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $4,391 |
| Depreciation | $16,322 |
| Occupancy | $2,872 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $33,153 |
| Total operating and administrative expenses | $70,188 |
| Contributions, gifts, grants paid | $20,300 |
| Total expenses and disbursements | $90,488 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,353,605 |
| Savings and temporary cash investments | $5,050 |
| Net Accounts receivable | $714 |
| 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 | $8,644 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $5,950,565 |
| Net Land, buildings, and equipment | $4,620,153 |
| Other assets | $4,798,946 |
| Total assets | $17,737,677 |
| Accounts payable and accrued expenses | $4,701 |
| Grants payable | $0 |
| Deferred revenue | $4 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $5,050 |
| Total liabilities | $9,755 |
Grants Awarded
Over the last fiscal year, Todmorden Foundation has awarded $70,309 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
Wilmington, DE PURPOSE: WOODLAWN PARK RENOVATIONS | $50,000 |
FLATS PHASE I LP PURPOSE: FLATS PHASE I DEVELOPMENT PROJECT | $20,000 |
HDC MIDATLANTIC PURPOSE: AFFORDABLE HOUSING BANQUET SPONSORSHIP | $309 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Todmorden Foundation has recieved totaling $1,103,823.
| Awarding Organization | Amount |
|---|---|
Rockford Woodlawn Fund Inc Wilmington, DE PURPOSE: AFFORDABLE HOUSING REDEVELOPMENT | $943,823 |
Nathan M Clark Foundation Wilmington, DE PURPOSE: GENERAL CHARITABLE PURPOSES | $160,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Chcc Ccrc Wyckoff, NJ | $147,839,474 | $3,578,488 |
Landow House Inc Rockville, MD | $22,817,674 | $9,183,243 |
Village At St Barnabas Inc Gibsonia, PA | $12,528,013 | $7,815,800 |
Baptist Home Of South Jersey Riverton, NJ | $5,498,911 | $7,505,909 |
Ring House Corporation Rockville, MD | $29,695,325 | $8,739,893 |
Pressley Ridge-Maryland Pittsburgh, PA | $946,901 | $8,510,499 |
Dock Acres Inc Lansdale, PA | $67,194,960 | $10,315,116 |
Shenango Presbyterian Senior Care New Wilmington, PA | $15,211,749 | $8,374,415 |
Friends Boarding Home Of Concord Quarterly Meeting West Chester, PA | $25,916,851 | $6,719,568 |
Arbors At St Barnabas Inc Valencia, PA | $6,663,670 | $7,917,375 |
Woodlands At St Barnabas Inc Gibsonia, PA | $6,375,889 | $8,334,246 |
The Martin And Edith Stein Assisted Living Residence Inc Somerset, NJ | $9,023,708 | $7,554,039 |