Taunton Development Massdevelopment Corporation
- Assets
- $9.6m
- Revenue
- -$91.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Boston, MA
- Founding
- 11/2013
- Data as of
- 06/2023
- EIN
- 45-3951613
Organization Overview
Taunton Development Massdevelopment Corporation is located in Boston, MA. The organization was established in 2013. According to its NTEE Classification (S99) the organization is classified as: Community Improvement & Capacity Building N.E.C., 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. Taunton Development Massdevelopment Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE PRINCIPLE CHARITABLE PURPOSE OF TAUNTON DEVELOPMENT/MASSDEVELOPMENT CORPORATION ("THE CORPORATION") IS TO PROMOTE ECONOMIC DEVELOPMENT AND TO LESSEN THE BURDENS OF GOVERNMENT BY REDEVELOPING LAND THAT WAS PART OF THE FORMER PAUL A. DEVER SCHOOL IN TAUNTON, MASSACHUSETTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TAUNTON DEVELOPMENT/MASSDEVELOPMENT CORPORATION WAS FORMED TO OWN AND REDEVELOP THE FORMER DEVER STATE SCHOOL CORE CAMPUS IN TAUNTON, MA. THE PROPERTY CONSISTS OF APPROXIMATELY 220 ACRES WITH APPROXIMATELY 40 DILAPIDATED BUILDINGS AND UNDERGROUND TUNNELS. REDEVELOPMENT WORK ON THE PROPERTY BEGAN IN FISCAL YEAR 2012. REDEVELOPMENT CONSISTS OF BUILDING ROADS AND UTILITIES INFRASTRUCTURE, OBTAINING PERMITS, AND SELLING DEVELOPMENT-READY PARCELS OF LAND TO COMPANIES AND OTHERS TO GENERATE JOB CREATION AND JOB TRAINING/SKILLS DEVELOPMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tania Hartford Director/president | OfficerTrustee | 2.5 | $0 |
Simon R Gerlin Director/treasurer | OfficerTrustee | 2.5 | $0 |
Jay Pateakos Director (trhu 06/2023) | Trustee | 2.5 | $0 |
Daniel Darosa Director/vp | OfficerTrustee | 2.5 | $0 |
Michael Miller Director/vp | OfficerTrustee | 2.5 | $0 |
Louis Ricciardi Director/vp | OfficerTrustee | 2.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mcconnell Enterprises Inc Construction | 6/29/18 | $659,000 |
Pa Landers Inc Construction | 6/29/18 | $413,862 |
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 | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$630,840 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | -$91,547 |
| 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 | $0 |
| Fees for services: Accounting | $5,776 |
| 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 | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $0 |
| Insurance | $39,740 |
| All other expenses | $0 |
| Total functional expenses | $155,712 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,738,530 |
| 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 | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $12,799 |
| Net Land, buildings, and equipment | $1,872,743 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $9,624,072 |
| Accounts payable and accrued expenses | $90,526 |
| 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 | $0 |
| Total liabilities | $90,526 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $9,533,546 |
| 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 | $9,624,072 |