Vera Court Neighborhood Center Inc
- Assets
- $4.1m
- Revenue
- $1.6m
- Investments
- $637.2k
- Employees
- 48
- Location
- Madison, WI
- Founding
- 01/1999
- Data as of
- 12/2023
- EIN
- 39-1945609
Organization Overview
Vera Court Neighborhood Center Inc is located in Madison, WI. The organization was established in 1999. According to its NTEE Classification (P28) the organization is classified as: Neighborhood Centers, under the broad grouping of Human Services and related organizations. As of 12/2023, Vera Court Neighborhood Center Inc employed 48 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Vera Court Neighborhood Center 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 12/2023, Vera Court Neighborhood Center Inc generated $1.6m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 3.2% each year. All expenses for the organization totaled $1.6m during the year ending 12/2023. While expenses have increased by 5.1% per year over the past 9 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO WORK IN COLLABORATION WITH COMMUNITY MEMBERS AND ORGANIZATIONS TO PROVIDE PROGRAMMING AND SERVICES FOR CHILDREN, YOUTH, FAMILIES, SENIORS, AND PEOPLE OF THE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CHILDREN AND YOUTH - PROVIDE OPPORTUNITIES FOR RECREATION, PERSONAL GROWTH AND EDUCATION TO ELEMENTARY AND MIDDLE SCHOOL CHILDREN. PROGRAMS INCLUDE COMPUTER TRAINING, AFTER SCHOOL AND SUMMER ACTIVITIES.
OTHER PROGRAM-RELATED SERVICES AND PROGRAMS
FACILITY USE - PROVIDES A COMMUNITY CENTER, KITCHEN AND A LOCATION FOR NEIGHBORHOOD EVENTS, ACTIVITIES AND CLASSES. ALSO PROVIDES FOR ADMINISTRATION EXPENSE AND BUILDING MAINTENANCE.
COMMUNITY ASSISTANCE- PROVIDE OUTREACH, COUNSELING, AND SUPPORT TO RESIDENTS OF THE COMMUNITY. OTHER PROGRAM SERVICES PROVIDED TO RESIDENTS OF VERA COURT NEIGHBORHOOD.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Corinda Rainey-Moore President | OfficerTrustee | 2 | $0 |
Brent Wray Former President/director | OfficerTrustee | 2 | $0 |
David Krause Treasurer | OfficerTrustee | 2 | $0 |
Cora White Director | Trustee | 1 | $0 |
Gloria Reyes Director | Trustee | 1 | $0 |
Linda Hoskins Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $69,344 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $839,036 |
| All other contributions, gifts, grants, and similar amounts not included above | $438,130 |
| Noncash contributions included in lines 1a–1f | $19,852 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,346,510 |
| Total Program Service Revenue | $0 |
| Investment income | $78,735 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $114,615 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,567,886 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $124,117 |
| 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. | $118,760 |
| Compensation of current officers, directors, key employees. | $32,888 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $822,208 |
| Pension plan accruals and contributions | $10,792 |
| Other employee benefits | $62,941 |
| Payroll taxes | $72,418 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,976 |
| Fees for services: Accounting | $17,817 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $7,500 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $79,963 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $44,171 |
| Travel | $26,898 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $31,366 |
| Insurance | $30,295 |
| All other expenses | $0 |
| Total functional expenses | $1,626,762 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $593,742 |
| Savings and temporary cash investments | $529,468 |
| Pledges and grants receivable | $167,137 |
| Accounts receivable, net | $0 |
| 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 | $401 |
| Net Land, buildings, and equipment | $297,611 |
| Investments—publicly traded securities | $1,826,014 |
| Investments—other securities | $637,179 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,051,552 |
| Accounts payable and accrued expenses | $67,383 |
| 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 | $0 |
| Other liabilities | $112,190 |
| Total liabilities | $179,573 |
| Net assets without donor restrictions | $2,259,425 |
| Net assets with donor restrictions | $1,612,554 |
| 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 | $4,051,552 |