Humboldt Bay Development Association Inc is located in Eureka, CA. The organization was established in 2016. According to its NTEE Classification (S30) the organization is classified as: Economic Development, 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. Humboldt Bay Development Association Inc 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 06/2021, Humboldt Bay Development Association Inc generated $538.7k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.4% each year. All expenses for the organization totaled $442.9k during the year ending 06/2021. 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
PROMOTE SOCIAL WELFARE BY COMBATING COMMUNITY DETERIORATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
REHABILITATION AND CONVERSION OF UNDERUTILIZED PREVIOUSLY ENVIRONMENTALLY CONTAMINATED PROPERTY INTO COMMERCIAL SPACE FOR COMMUNITY-ORIENTED TENANTS, WITH BUSINESS SPECIFICALLY INTEGRAL TO THE REDEVELOPMENT AND MASTER PLAN OF THE HUMBOLDT BAY AREA AND SPECIFICALLY TO SERVE AS A KEY GROWTH PROPERTY FOR THE REDEVELOPMENT OF SHIPPING,AQUACULTURE AND RENEWABLE ENERGY BUSINESS IN THE BAY COMMUNITY.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Richard Marks President | OfficerTrustee | 2 | $0 |
Aaron Newman Secretary | OfficerTrustee | 2 | $0 |
Leroy Zerlang Vice-President | OfficerTrustee | 2 | $0 |
Patrick Higgins Board Member | Trustee | 2 | $0 |
Miles Slattery Board Member | Trustee | 2 | $0 |
Statement of Revenue | |
---|---|
Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
Investment income | $52 |
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 | $538,686 |
Statement of Expenses | |
---|---|
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 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 | $0 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $9,290 |
Advertising and promotion | $0 |
Office expenses | $37,047 |
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 | $239,327 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $157,210 |
Insurance | $0 |
All other expenses | $0 |
Total functional expenses | $442,874 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $22,281 |
Savings and temporary cash investments | $142,228 |
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 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $1,937,058 |
Total assets | $9,635,885 |
Accounts payable and accrued expenses | $7,500 |
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 | $8,302,327 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $0 |
Total liabilities | $8,309,827 |
Net assets without donor restrictions | $0 |
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 |
Total liabilities and net assets/fund balances | $1,326,058 |
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