Todmorden Foundation
- Assets
- $19.7m
- Revenue
- $1.2m
- Investments
- $6.6m
- Employees
- 0
- Location
- Wilmington, DE
- Founding
- 03/2013
- Data as of
- 12/2022
- 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 12/2022, Todmorden Foundation generated $1.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (12.2%) each year. All expenses for the organization totaled $146.8k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (12.0%) per year over the past 8 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
2022
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. IN ADDITION, THE TODMORDEN FOUNDATION OWNS THE TODMORDEN EAST FOUNDATION, LLC. THE TODMORDEN EAST FOUNDATION FOCUSES ON THE DEVELOPMENT OR THE REDEVELOPMENT OF HOUSING IN THE EAST SIDE OF WILMINGTON.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Przywara President | 20 | $0 | |
Donna Gooden Vice Preside | 20 | $0 | |
Matthew Lynch Chairman | 5 | $0 | |
Benjamin Lovell Trustee | 5 | $0 | |
Thomas White Trustee | 5 | $0 | |
Sheldon Sandler 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 |
Architectural Alliance Inc - Co Todmorden | 12/30/16 | $131,450 |
Landmark Engineering - Co Todmorden | 12/30/16 | $77,512 |
Autotemp Inc - Co Todmorden | 12/30/16 | $50,020 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $972,621 |
| Interest on Savings | $313 |
| Dividends & Interest | $0 |
| Net Rental Income | $73,164 |
| 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 | $105,929 |
| Total Revenue | $1,152,027 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $4,382 |
| Depreciation | $16,322 |
| Occupancy | $2,879 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $53,550 |
| Total operating and administrative expenses | $145,823 |
| Contributions, gifts, grants paid | $1,000 |
| Total expenses and disbursements | $146,823 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,465,261 |
| Savings and temporary cash investments | $5,100 |
| Net Accounts receivable | $3,796 |
| Net Pledges Receivable | $0 |
| Grants receivable | $250,000 |
| 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 | $13,686 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $6,631,654 |
| Net Land, buildings, and equipment | $4,767,596 |
| Other assets | $5,601,980 |
| Total assets | $19,739,073 |
| Accounts payable and accrued expenses | $261,269 |
| Grants payable | $0 |
| Deferred revenue | $702,832 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $5,100 |
| Total liabilities | $969,201 |
Grants Awarded
Over the last fiscal year, Todmorden Foundation has awarded $70,309 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
FLATS PHASE I LP PURPOSE: FLATS PHASE I DEVELOPMENT PROJECT | $20,000 |
HDC MIDATLANTIC PURPOSE: AFFORDABLE HOUSING BANQUET SPONSORSHIP | $309 |
DELAWARE CENTER FOR HORTICULTURE PURPOSE: WOODLAWN PARK RENOVATIONS | $50,000 |