322 Hunting Park Corporation
- Assets
- $5.2m
- Revenue
- $422.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Philadelphia, PA
- Founding
- 09/2018
- Data as of
- 06/2023
- EIN
- 82-2103923
Organization Overview
322 Hunting Park Corporation is located in Philadelphia, PA. The organization was established in 2018. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. 322 Hunting Park Corporation is a 501(c)(2) and as such, is described as a "Title Holding Corporation for an Exempt Organization" by the IRS.
For the year ending 06/2023, 322 Hunting Park Corporation generated $422.5k in total revenue. The organization has seen a slow decline revenue. Over the past 5 years, revenues have fallen by an average of (1.3%) each year. All expenses for the organization totaled $821.6k during the year ending 06/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE CORPORATION OWNS AND OPERATES RENTAL REAL ESTATE WHICH IS LEASED PRIMARILY TO LOCAL BUSINESSES IN THE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
322 HUNTING PARK CORPORATION (THE "CORPORATION") IS A NOT-FOR-PROFIT CORPORATION SERVING THE HISPANIC COMMUNITY OF NORTH PHILADELPHIA AS A COMPONENT OF BROADER COMMUNITY DEVELOPMENT WORK. THE CORPORATION OWNS A COMPLEX AT 322 W. HUNTING PARK AVENUE THAT WAS PURCHASED IN APRIL 2018. THE CAMPUS CONTAINED 142,599 SQUARE FEET OF RENTABLE SPACE OF WHICH ALL IS RENTED AND OCCUPIED. TENANTS OF THE COMPLEX ARE MADE UP OF VARIOUS LOCAL BUSINESSES FROM THE COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rev Luis A Cortes Jr Chair | OfficerTrustee | 2 | $0 |
Rev Danny Cortes Vice Chair | OfficerTrustee | 2 | $0 |
Walter Toliver Board Member | Trustee | 2 | $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 | $417,964 |
| 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 | $422,476 |
| 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 | $33,437 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,756 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $40,631 |
| Advertising and promotion | $0 |
| Office expenses | $31,430 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $228,545 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $246,859 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $156,260 |
| Insurance | $81,704 |
| All other expenses | $0 |
| Total functional expenses | $821,622 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $65,438 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $11,249 |
| 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 | $5,011,836 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $129,984 |
| Total assets | $5,218,507 |
| Accounts payable and accrued expenses | $10,260 |
| Grants payable | $0 |
| Deferred revenue | $21,840 |
| 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 | $4,200,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,326,263 |
| Total liabilities | $6,558,363 |
| Net assets without donor restrictions | -$1,339,856 |
| 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 | $5,218,507 |