Tri-State Community Partners Inc
- Assets
- $6.0m
- Revenue
- $656.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Wilmington, DE
- Founding
- Data as of
- 12/2023
- EIN
- 88-4228143
Organization Overview
Tri-State Community Partners Inc is located in Wilmington, DE. Tri-State Community Partners Inc is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2023, Tri-State Community Partners Inc generated $656.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (64.1%) each year. All expenses for the organization totaled $39.4k during the year ending 12/2023. 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
TRI-STATE COMMUNITY PARTNERS, INC. (TSCP) WILL LESSEN THE BURDENS OF GOVERNMENT AND PROMOTE THE GENERAL WELFARE OF THE COMMUNITY BY ASSISTING THE CITY OF SEAFORD, DELAWARE (CITY), AND THE STATE OF DELAWARE (STATE) IN ELIMINATING A BLIGHTED AREA IN THE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FUNDS RECEIVED IN 2023 WERE USED IN FURTHERANCE OF TSCP'S NYLON CAPITAL SHOPPING CENTOR REVITALIZATION PROJECT. IT BROKE GROUND IN 2023, WITH BOTH EXISTING TENANTS AND NEW ONES HAVE BEEN ANNOUNCED . THE SITE WILL EVENTUALLY BE HOME TO A HEALTHCARE INCUBATOR, DELAWARE TECH CAMPUS AND OTHER STATE OF THE ART ENTERPRISES. THE CITY HAS RECOGNIZED NYLON CAPITAL SHOPPING CENTER AS A BLIGHTED SITE. THE SITE CONSISTS OF APPROXIMATELY 22 ACRES OF MOSTLY VACANT DILAPIDATED BUILDINGS. THE SHOPPING CENTER, ONCE A SYMBOL OF PRIDE AND PROGRESS FOR THE CITY, IS CURRENTLY 86 PERCENT VACANT AND HAS BEEN PREDOMINANTLY VACANT FOR OVER A DECADE. MOST OF THE SHOPPING CENTER HAS DECAYED INTO A DILAPIDATED SHELL (DELAWARE BUSINESS TIMES, 2019). SUBSTANTIAL PORTIONS OF THE BUILDINGS ARE UNINHABITABLE DUE TO ASBESTOS AND DECAY FROM LACK OF USE AND SIGNIFICANT DEFERRED MAINTENANCE. IMPROVEMENT OF THE SITE WILL REQUIRE ENVIRONMENTAL EXPENDITURES FOR ASBESTOS, REMOVAL OF UNDERGROUND TANKS AND REMOVAL OF CONTAMINATED SOIL. WESTERN SUSSEX COUNTY, DELAWARE, WHERE THE BLIGHTED AREA IS LOCATED, HAS A HOST OF ECONOMIC, SOCIOECONOMIC AND HEALTHCARE ISSUES THAT HAVE BEEN EXACERBATED BY THE COVID-19 PANDEMIC. THE COMMUNITIES THERE EXPERIENCE A POVERTY RATE THAT IS DOUBLE OR TRIPLE THAT STATEWIDE POVERTY RATE OF 12 PERCENT. THIS POVERTY IS BEING EXPERIENCED DISPROPORTIONALLY BY MINORITY POPULATIONS AND SINGLE WOMEN. THE CITY HAS PARTICULARLY STRUGGLED AFTER AN IMPORTANT MANUFACTURING FACILITY CLOSED. THE REDEVELOPMENT OF THE BLIGHTED SITE WILL AID COMBATTING THESE CONDITIONS. THE REDEVELOPMENT OF THE SITE WILL HELP IMPLEMENT THE CITY'S GOAL TO REPLACE THE BLIGHTED SITE, WHICH WAS ONCE THE EPICENTER OF TOWN, AND ENTICE TENANTS WHO WILL BENEFIT THE COMMUNITY AS WELL AS PROVIDING MUCH NEEDED EMPLOYMENT.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Will Horrocks President And Director | OfficerTrustee | 0 | $0 |
Vincent Garman Secretary And Director | OfficerTrustee | 0 | $0 |
Andrew Levin Director | Trustee | 0 | $0 |
David Rinnier Director | Trustee | 0 | $0 |
Taylor Santoro Director | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $617,246 |
| 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 | $617,246 |
| Total Program Service Revenue | $0 |
| Investment income | $38,882 |
| 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 | $656,128 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $16,909 |
| 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 | $2,421 |
| Fees for services: Accounting | $6,507 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $13,130 |
| Advertising and promotion | $0 |
| Office expenses | $476 |
| 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 | $39,443 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $322,697 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $5,667,246 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,989,943 |
| Accounts payable and accrued expenses | $25 |
| Grants payable | $0 |
| Deferred revenue | $296,806 |
| 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 | $0 |
| Other liabilities | $0 |
| Total liabilities | $296,831 |
| Net assets without donor restrictions | $5,693,112 |
| 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 | $5,989,943 |