Bessemer Redevelopment Corp
- Assets
- $687.5k
- Revenue
- $396.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Bessemer, AL
- Founding
- Data as of
- 12/2021
- EIN
- 85-1601510
Organization Overview
Bessemer Redevelopment Corp is located in Bessemer, AL. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood 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. Bessemer Redevelopment Corp 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, Bessemer Redevelopment Corp generated $396.7k in total revenue. All expenses for the organization totaled $98.9k during the year ending 12/2021.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
WE BELIEVE THAT BESSSEMER COMMUNITIES AND NEIGHBORHOODS CAN HAVE A QUALITY OF LIFE THAT MAKES IT DESERVING OF THE NAME MARVEL CITY. WE SEEK TO DO OUR PART IN MOVING THAT FORWARD THROUGH TARGETED CATALYIC PROJECTS THAT ARE MULTI-FACETED AND BRING OTHER LIKE-MINDED DEVELOPERS TO THE TABLE. A COMPREHENSIVE VISION WILL ENABLE THE TRANSFORMATION WE ENVISION WITH MULTIPLE PARTNERS AND FUNDING SOURCES. OUR MISSION IS TO LEAD THE TRANSFORMATION OF BESSEMER'S NEIGHBORHOODS THROUGH COMMUNITY FIRST DEVELOPMENT, INCLUDING BUILDING OR RENOVATING QUALITY AFFORDABLE HOUSING. WE WILL CREATE BUILDINGS OR SITES THAT BECOME COMMUNITY ASSETS, AND ALSO CREATE A COMMUNITY GARDEN THAT WILL PROVIDE HEALTHY FOOD OPTIONS FOR OUR COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ACQUISITIONS OF VACANT AND BLIGHTED PROPERTIES FOR REDEVELOPMENT.
RENOVATION OF THE BESSEMER TRAIN DEPOT TO ENHANCE THE COMMUNITY.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brian Giattina President | OfficerTrustee | 20 | $0 |
Mike Rogers Director | Trustee | 1 | $0 |
Ashley Norris Director | Trustee | 1 | $0 |
Dave Paige Director | Trustee | 1 | $0 |
Calvin Bell Director | Trustee | 1 | $0 |
Ed Welden 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 | $381,065 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $381,065 |
| Total Program Service Revenue | $0 |
| Investment income | $47 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $7,749 |
| Net Gain/Loss on Asset Sales | -$9,000 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $396,736 |
| 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 | $48,660 |
| Fees for services: Legal | $8,662 |
| Fees for services: Accounting | $2,711 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $29,853 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| 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 | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,159 |
| All other expenses | $0 |
| Total functional expenses | $98,941 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $21,190 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $139,720 |
| Accounts receivable, net | $1,054 |
| Loans from Officers, Directors, or Controlling Persons | $269,723 |
| 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 | $255,847 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $687,534 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $139,720 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $162,960 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $302,680 |
| Net assets without donor restrictions | $384,854 |
| 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 | $687,534 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Bessemer Redevelopment Corp has recieved totaling $102,500.
| Awarding Organization | Amount |
|---|---|
Estelle S Campbell Charitable Foundation Pittsburgh, PA PURPOSE: TRAIN DEVELOPMENT | $102,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Woodbine Community Organization Wco Inc Nashville, TN | $99,872,484 | $15,160,345 |
Southwest Mississippi Planning And Development District Inc Natchez, MS | $14,931,557 | $8,375,753 |
Northwest Tennessee Development Martin, TN | $5,677,713 | $7,068,049 |
Oasis Center Inc Nashville, TN | $8,797,706 | $7,228,064 |
Action Ministries Inc Atlanta, GA | $1,217,329 | $6,005,144 |
Warren-Washington-Issaquena-Sharkey Community Action Agency Greenville, MS | $1,506,722 | $6,604,720 |
Economic Opportunities Council Of Indian River County Inc Vero Beach, FL | $1,869,765 | $6,434,584 |
Grand Avenue Economic Community Development Corp Orlando, FL | $15,324,319 | $6,865,821 |
Orpheum Theatre Group Memphis, TN | $37,801,412 | $4,089,220 |
Sunflower-Humphreys Counties Indianola, MS | $1,460,572 | $6,186,135 |
Northeast Mississippi Planning And Development District Inc Booneville, MS | $27,636,320 | $8,451,270 |
University Area Community Development Corporation Inc Tampa, FL | $12,749,613 | $5,875,333 |