Overview
What is Broadway Development Corporation?
Broadway Development Corporation is a nonprofit organization with a primary focus on real estate. They acquire and manage properties, generating income from them. The organization's mission is to maintain ownership of these properties and distribute the net income, after deducting expenses, to its shareholders. In essence, Broadway Development Corporation serves as a real estate holding entity, generating revenue for its shareholders by managing its property portfolio.
Is Broadway Development Corporation legitimate?
Broadway Development Corporation is a legitimate nonprofit organization registered as a 501(c)(25) entity. Broadway Development Corporation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
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What is the mission statement of Broadway Development Corporation?
Broadway Development Corporation's mission revolves around acquiring and holding title to real estate properties. The organization collects income generated from these properties and subsequently distributes the net income, after deducting expenses, to its shareholders. Essentially, Broadway Development Corporation's primary objective is to manage its property holdings and ensure a steady income flow for its shareholders.
What is the revenue of Broadway Development Corporation?
Broadway Development Corporation's revenue in 2024 was $2,568,147.
Who are the executives of Broadway Development Corporation and what are their salaries?
There 11 volunteers at Broadway Development Corporation.
Here are 11 key members and their salaries:
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Where can I find the form 990 for Broadway Development Corporation?
Broadway Development Corporation's most recent form 990 was submitted in 2024 and can be accessed here.
Mission Statement of Broadway Development Corporation
Broadway Development Corporation's primary mission lies in the acquisition and maintenance of real estate properties. This organization serves as a title holder for these properties, generating income from them. Remarkably, Broadway Development Corporation is committed to distributing the entirety of its income, after deducting necessary expenses, to its shareholders. In essence, the corporation's mission revolves around the management of properties and the subsequent redistribution of profits to its shareholders.
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Impact
October, 2024
Broadway Development Corporation significantly impacts the Baltimore area by acquiring and holding real property, which contributes to community improvement and local economic development. By effectively managing and maintaining its properties, the organization generates income that it remits to shareholders, fostering investment and stability within the community. This income distribution supports local stakeholders and encourages further participation in community initiatives. The corporation's focus on real estate not only enhances property values but also strengthens the neighborhood's overall economic landscape, promoting a vibrant community and improving the quality of life for its residents.
This information is meant to be a general summary of Broadway Development Corporation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2024.
- Investment Income: $27,675
- Program Service Revenue: $2,540,472
- Gross Receipts: $2,568,147
Assets and Liabilities:
- Total Assets: $4,128,781
- Total Liabilities: $2,622,107
- Net Assets: $1,506,674
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$2,540,472
Organization Details
Founding Year
1950
Principal Officer
Mitchell Bonanno
NTEE Category
Code: S47 - Community improvement
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