South River Development Corporation
- Assets
- $8.3m
- Revenue
- $1.7m
- Investments
- $0.0
- Employees
- 22
- Location
- Waynesboro, VA
- Founding
- 06/1998
- Data as of
- 12/2021
- EIN
- 54-1877843
Organization Overview
South River Development Corporation is located in Waynesboro, VA. The organization was established in 1998. According to its NTEE Classification (P80) the organization is classified as: Centers to Support the Independence of Specific Populations, under the broad grouping of Human Services and related organizations. As of 12/2021, South River Development Corporation employed 22 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. South River 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, South River Development Corporation generated $1.7m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 13.6% each year . All expenses for the organization totaled $2.1m during the year ending 12/2021. While expenses have increased by 15.4% 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
DEVELOPMENT AND MANAGEMENT OF SPECIAL NEEDS AND LOW INCOME HOUSING PROJECTS
Describe the Organization's Program Activity:
Part 3 - Line 4a
DEVELOPMENT AND MANAGEMENT OF SPECIAL NEEDS AND LOW INCOME HOUSING PROJECTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Maryann Maupin President | OfficerTrustee | 3 | $0 |
Dr Margaret Vanhuss Vice President | OfficerTrustee | 2 | $0 |
Tessa Fitzgerald Secretary/treasurer | OfficerTrustee | 2 | $0 |
Kimberly Byrd Exec. VP | OfficerTrustee | 8 | $0 |
David Bullock Director | Trustee | 1 | $0 |
Thomas Reider Director | Trustee | 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 | $1,724,640 |
| Investment income | $73 |
| 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 | $1,724,713 |
| 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 | $541,345 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $151,424 |
| Payroll taxes | $34,339 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $6,911 |
| Office expenses | $25,434 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $9,600 |
| Travel | $2,518 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,387 |
| Interest | $141,077 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $511,512 |
| Insurance | $76,178 |
| All other expenses | $157,603 |
| Total functional expenses | $2,126,052 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $252,293 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $13,819 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $690 |
| Prepaid expenses and deferred charges | $12,152 |
| Net Land, buildings, and equipment | $7,631,132 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $423,846 |
| Total assets | $8,333,932 |
| Accounts payable and accrued expenses | $14 |
| Grants payable | $0 |
| Deferred revenue | $1,452 |
| 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 | $2,901,455 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $423,464 |
| Total liabilities | $3,326,385 |
| Net assets without donor restrictions | $5,007,547 |
| 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 | $8,333,932 |
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