Madison Avenue Development Corporation
- Assets
- $91.8k
- Revenue
- $52.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Baltimore, MD
- Founding
- 02/1994
- Data as of
- 12/2021
- EIN
- 52-1845646
Organization Overview
Madison Avenue Development Corporation is located in Baltimore, MD. The organization was established in 1994. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, 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. Madison Avenue 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, Madison Avenue Development Corporation generated $52.5k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.2%) each year. All expenses for the organization totaled $57.5k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (1.9%) per year over the past 7 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
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE FACILITY AND FACILITY MANAGEMENT FOR COMMUNITY TAX-EXEMPT OUTREACH CENTER
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gina Sammons President | 1 | $0 | |
Keith Thompson VP Treasurer | 5 | $7,200 | |
Joyce Richardson Recording Secretary | 1 | $0 | |
Robert Bloom Member | 1 | $0 | |
Roddy Gaither Member | 1 | $0 | |
Cynthia Seivers Member | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $15,000 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| 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 | $0 |
| Total Revenue | $52,480 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $7,200 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $551 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $49,695 |
| Total operating and administrative expenses | $57,514 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $57,514 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $12,144 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| 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 | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $79,639 |
| Other assets | $0 |
| Total assets | $91,783 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $67,326 |
Grants Awarded
Over the last fiscal year, Madison Avenue Development Corporation has awarded $5,675 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
MADISON AVENUE PRESBYTERIAN CHURCH PURPOSE: CONTRIBUTION TO CHURCH | $1,475 |
MADISON AVENUE PRESBYTERIAN CHURCH PURPOSE: IN-KIND RENTS | $4,200 |