Cherry Hill Development Corporation
- Assets
- $677.5k
- Revenue
- $778.9k
- Investments
- $0.0
- Employees
- 5
- Location
- Brooklyn, MD
- Founding
- 04/1982
- Data as of
- 12/2021
- EIN
- 52-1241771
Organization Overview
Cherry Hill Development Corporation is located in Brooklyn, MD. The organization was established in 1982. According to its NTEE Classification (S40) the organization is classified as: Business & Industry, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Cherry Hill Development Corporation employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cherry Hill Development Corporation 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, Cherry Hill Development Corporation generated $778.9k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 53.6% each year . All expenses for the organization totaled $366.7k during the year ending 12/2021. While expenses have increased by 39.5% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
SUPPORT ECONOMIC DEVELOPMENT LOW INCOME HOUSING REHAB, EDUCATIONAND OTHER SOCIAL SERVICES TO LOW MODERATE INCOME FAMILIES
Describe the Organization's Program Activity:
Part 3 - Line 4a
ECONOMIC DEVELOPMENT FOR LOW INCOME HOUSING REHAB ALONG WITH EDUCATING
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
B Baze Board Member | Officer | 1 | $0 |
S Clements Board Member | Officer | 1 | $0 |
L Felder Board Member | Officer | 1 | $0 |
F Cunningham Board Member | Officer | 1 | $0 |
S Foulks Board Member | Officer | 1 | $0 |
G Knox Board Member | Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $194,326 |
| All other contributions, gifts, grants, and similar amounts not included above | $584,537 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $778,863 |
| 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 | $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 | $778,863 |
| 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. | $80,000 |
| Compensation of current officers, directors, key employees. | $20,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $101,317 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $16,637 |
| Fees for services: Management | $102,648 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $14,499 |
| 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 | $6,440 |
| Information technology | $10,534 |
| Royalties | $0 |
| Occupancy | $14,258 |
| Travel | $375 |
| 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 | $4,184 |
| All other expenses | $15,791 |
| Total functional expenses | $366,683 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $677,466 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $677,466 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $677,466 |
| 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 | $677,466 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Cherry Hill Development Corporation has recieved totaling $170,000.
| Awarding Organization | Amount |
|---|---|
Enterprise Community Partners Inc Columbia, MD PURPOSE: EMERGENCY ACTION FOR RESIDENTS & PARTNERS STABILITY | $120,000 |
Sb7 Coalition Inc Baltimore, MD PURPOSE: ESTABLISHING CHCC AS NONPROFIT W/BANK ACCOUNT, HIRE STAFF, CHDC FUNDING FOR BLIGHT REDUCTION HOME OWNERSHIP INITIATIVES (5 HOME RENOS) | $50,000 |
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