Cifc 120 Main Holding Corp
- Assets
- $18.4m
- Revenue
- $180.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Danbury, CT
- Founding
- 02/2013
- Data as of
- 12/2022
- EIN
- 45-3734329
Organization Overview
Cifc 120 Main Holding Corp is located in Danbury, CT. The organization was established in 2013. According to its NTEE Classification (S47) the organization is classified as: Real Estate Associations, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cifc 120 Main Holding Corp is a 501(c)(2) and as such, is described as a "Title Holding Corporation for an Exempt Organization" by the IRS.
For the year ending 12/2022, Cifc 120 Main Holding Corp generated $180.0k in total revenue. All expenses for the organization totaled $413.7k during the year ending 12/2022. While expenses have increased by 30.1% per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO HOLD TITLE TO PROPERTY, COLLECT INCOME FROM SAID PROPERTY AND THEN TURN THE ENTIRE AMOUNT OF INCOME, LESS EXPENSES, OVER TO CONNECTICUT INSTITUTE FOR COMMUNITIES, INC., AN ORGANIZATION RECOGNIZED AS EXEMPT FROM INCOME TAX UNDER IRC SECTION 501(A).
Describe the Organization's Program Activity:
Part 3 - Line 4a
CIFC 120 MAIN HOLDING CORP IS ORGANIZED AS A 501(C)(2) NONPROFIT ORGANIZATION; ITS SOLE PURPOSE IS TO HOLD TITLE TO PROPERTY, COLLECT INCOME FROM SAID PROPERTY, AND TURN THE ENTIRE AMOUNT OF INCOME, LESS EXPENSES, OVER TO CONNECTICUT INSTITUTE FOR COMMUNITIES, INC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Katherine Curran Board Chair | OfficerTrustee | 1 | $0 |
Holly Sekiguchi Asst. Secretary | Officer | 1 | $0 |
James H Maloney President & CEO | OfficerTrustee | 1 | $0 |
Sabrina Ross Asst. Secretary | Officer | 1 | $0 |
Dr Francis Muska PHD Treasurer | OfficerTrustee | 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 | $180,000 |
| Investment income | $7 |
| 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 | $180,007 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,038 |
| Fees for services: Accounting | $8,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $892 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $16,183 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $60,419 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $256,304 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $413,741 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $36,120 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $154,299 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $17,786,122 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $380,080 |
| Total assets | $18,356,621 |
| Accounts payable and accrued expenses | $1,898,256 |
| 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 | $6,955,771 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $380,072 |
| Total liabilities | $9,234,099 |
| Net assets without donor restrictions | $9,122,522 |
| 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 | $18,356,621 |