Goodwill Of North Georgia Development Company Ii Inc
- Assets
- $10.7m
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Decatur, GA
- Founding
- Data as of
- 06/2021
- EIN
- 85-1936726
Organization Overview
Goodwill Of North Georgia Development Company Ii Inc is located in Decatur, GA. According to its NTEE Classification (T11) the organization is classified as: Single Organization Support, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Goodwill Of North Georgia Development Company Ii Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
REAL ESTATE HOLDING COMPANY SUPPORTING GOODWILL OF NORTH GEORGIA, INC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE COMPANY, IN AN EFFORT TO ENABLE ITS SUPPORTED PUBLIC CHARITABLE ORGANIZATION, GOODWILL OF NORTH GEORGIA, INC., A GEORGIA NONPROFIT CORPORATION (GOODWILL), TO BETTER ACCOMPLISH ITS CHARITABLE MISSION OF ENHANCING THE DIGNITY AND QUALITY OF LIFE OF INDIVIDUALS, FAMILIES, AND COMMUNITIES BY ELIMINATING BARRIERS TO OPPORTUNITY AND HELPING PEOPLE IN NEED REACH THEIR FULL POTENTIAL THROUGH THE POWER OF WORK, WILL CONSTRUCT, RENOVATE, AND INSTALL CERTAIN IMPROVEMENTS ON THE REAL PROPERTY LOCATED AT 2160 METROPOLITAN PARKWAY SW, ATLANTA, GEORGIA 30315 (COLLECTIVELY, THE FACILITY) FOR GOODWILL'S USE TO CONDUCT ITS CHARITABLE PURPOSE. THE FACILITY WILL ENABLE GOODWILL TO OPERATE A CAREER AND JOB TRAINING CENTER AND A RETAIL STORE. THE COMPANY INTENDS TO ENTER INTO AN OPERATING LEASE WITH GOODWILL PURSUANT TO WHICH, IN ADDITION TO THE CONSTRUCTION, RENOVATION, AND INSTALLATION OF IMPROVEMENTS, THE COMPANY WILL PROVIDE ONGOING MAINTENANCE AND MANAGEMENT SERVICES RELATED TO THE FACILITY. IN DOING SO, THE COMPANY WILL ALLOW GOODWILL TO DEDICATE ADDITIONAL TIME AND RESOURCES TO ITS CORE MISSION AND CHARITABLE PURPOSE. THE COMPANY WILL BE PERFORMING THESE SERVICES EXCLUSIVELY FOR GOODWILL, ITS DESIGNATED PUBLICLY SUPPORTED CHARITABLE ORGANIZATION. AS A SUPPORTING ORGANIZATION WITHIN THE MEANING OF SECTION 509(A)(3) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE CODE), NET INCOME OF THE COMPANY AFTER ALLOWANCE FOR MAINTENANCE AND REPLACEMENT RESERVES, IF ANY, WILL ULTIMATELY BE CONTRIBUTED TO GOODWILL. THE COMPANY WILL FUND THE CONSTRUCTION, RENOVATION, AND INSTALLATION OF THE FACILITY WITH A LOAN MADE POSSIBLE BY THE NEW MARKETS TAX CREDIT PROGRAM WITHIN SECTION 45D OF THE CODE AND THE EFFORTS OF A COMMUNITY DEVELOPMENT ENTITY, AEMI FUND XXV, LLC, A GEORGIA LIMITED LIABILITY COMPANY, WHICH WILL ALLOW GOODWILL TO MAXIMIZE ITS POSITIVE IMPACT. THE COMPANY WILL CONTRIBUTE ALL EXCESS FUNDS CONTRIBUTED TO OR USED IN BENEFIT OF ITS ACTIVITIES, IF ANY, TO GOODWILL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mariangela Corales Secretary | OfficerTrustee | 2 | $0 |
Keith Parker President | OfficerTrustee | 1 | $0 |
Robert King Treasurer (thru 9/21) | OfficerTrustee | 2 | $0 |
Allen Phinney Director | Trustee | 0.25 | $0 |
Rukiya Thomas Director | Trustee | 0.25 | $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 | $0 |
| 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 | $0 |
| 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 | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $31,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $30,222 |
| Advertising and promotion | $0 |
| Office expenses | $25 |
| 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 | $0 |
| All other expenses | $0 |
| Total functional expenses | $61,247 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,786,341 |
| Savings and temporary cash investments | $0 |
| 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 |
| Net Land, buildings, and equipment | $5,385,135 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $485,999 |
| Total assets | $10,657,475 |
| Accounts payable and accrued expenses | $918,722 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $9,800,000 |
| Other liabilities | $0 |
| Total liabilities | $10,718,722 |
| Net assets without donor restrictions | -$61,247 |
| 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 | $10,657,475 |
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Charity Assets Trust Cumming, GA | $3,483 | $1,605,049 |