Edgewood Terrace Preservation Corporation in Silver Spring, Maryland (MD)

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Edgewood Terrace Preservation Corporation
Employer Identification Number (EIN)521939680
Name of OrganizationEdgewood Terrace Preservation Corporation
Address8403 Colesville Rd Ste 1150, Silver Spring, MD 20910-6331
ActivitiesLow income housing, Other housing activities
SubsectionCharitable Organization
Ruling Date08/1995
DeductibilityContributions are deductible
FoundationOrganizations operated solely for the benefit of and in conjunction with organizations described in 10 through 16 above
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2013
Assets$10,000,000 to $49,999,999
Income$1,000,000 to $4,999,999
Filing Requirement990 - Not required to file (all other)
Asset Amount$10,781,263
Amount of Income$4,681,533
Form 990 Revenue Amount$4,681,533
National Taxonomy of Exempt Entities (NTEE)Housing, Shelter: Housing Rehabilitation


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Amount of income in 2013: $4,681,533
This organization: 

 $4,681,533
Other organizations performing similar types of work: 

 $1,039,892

Assets in 2013: $10,781,263
Edgewood Terrace Preservation Corporation: 

 $10,781,263
Other organizations performing similar types of work: 

 $3,647,791

Expenses in 2012: $4,237,014
Edgewood Terrace Preservation Corporation: 

 $4,237,014
Other organizations performing similar types of work: 

 $929,440

Income to expenses ratio in 2012: 1.1
Edgewood Terrace Preservation Corporation: 

 1.1
Other organizations performing similar types of work: 

 1.0

Expenses allocated to program services in 2006: 83.5%
Edgewood Terrace Preservation Corporation: 

 83.5%
Other organizations performing similar types of work: 

 84.1%

Grants share in income in 2012: 0.0%
Edgewood Terrace Preservation Corporation: 

 0.0%
Other organizations performing similar types of work: 

 25.4%

Financial snapshot ($)

Revenue for 2012

Functional expenses for 2012

Statements Regarding Other IRS Filings and Tax Compliance (for 2012)
Did the organization have unrelated business gross income of $1,000 or more during the year?No
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities $0
Gross income from members or shareholders$0
Gross income from other sources$0
Statement of Revenue (for 2012)
Total revenue$4,573,167
Contributions, Gifts, Grants and Other Similar Amounts$0
Program Service Revenue$4,571,822
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$1,345
Income from investment of tax-exempt bond proceeds$0
Royalties$0
Net rental income$0
Net gain from sales of assets other than inventory$0
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous Revenue$0
Statement of Functional Expenses (for 2012)
Total functional expenses$4,237,014
Compensation of current officers, directors, trustees, and key employees$0
Other salaries and wages$893,797
Payroll taxes$53,587
Professional fundraising services$0
Other$3,289,630
Balance Sheet (for 2012)
Total assets$8,714,255
Total liabilities$1,683,922
Tax-exempt bond liabilities$0
Secured mortgages and notes payable to unrelated third parties$1,295,055
Unsecured notes and loans payable to unrelated third parties$0
Other$388,867
Total net assets or fund balances$7,030,333
Retained earnings, endowment, accumulated income, or other funds$0
Reason for Public Charity Status (for 2012)
The organization is not a private foundation because it is:An organization organized and operated exclusively for the benefit of, to perform the functions of, or to carry out the purposes of one or more publicly supported organizations described in section 509(a)(1) or section 509(a)(2)
Revenue, Expenses, and Changes in Net Assets or Fund Balances
2000200120022003200420052006
Total revenue$3,143,419$2,815,422$4,156,550$3,316,440$3,614,493$3,772,542$3,935,592
Contributions, gifts, grants, and similar amounts received$694,170$50,670$1,007,164$0$0$0$0
Contributions to donor advised funds$0
Direct public support$0$0$1,007,164$0$0$0$0
Indirect public support$0$0$0$0$0$0$0
Government contributions (grants)$694,170$50,670$0$0$0$0$0
Program service revenue including government fees and contracts$2,443,591$2,761,086$3,147,364$3,314,364$3,610,304$3,767,849$3,926,796
Membership dues and assessments$0$0$0$0$0$0$0
Interest on savings and temporary cash investments$5,658$3,666$2,022$2,076$4,189$4,693$8,796
Dividends and interest from securities$0$0$0$0$0$0$0
Net rental income or (loss)$0$0$0$0$0$0$0
Gross rents$0$0$0$0$0$0$0
Less: rental expenses$0$0$0$0$0$0$0
Other investment income$0$0$0$0$0$0$0
Gain or (loss) from sales of assets other than inventory$0$0$0$0$0$0$0
Gross amount from sales of assets other than inventory$0$0$0$0$0$0$0
Less: cost or other basis and sales expenses$0$0$0$0$0$0$0
Net income or (loss) from special events and activities$0$0$0$0$0$0$0
Gross revenue$0$0$0$0$0$0$0
Less: direct expenses other than fundraising expenses$0$0$0$0$0$0$0
Gross profit or (loss) from sales of inventory$0$0$0$0$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0$0$0$0$0
Less: cost of goods sold$0$0$0$0$0$0$0
Other revenue$0$0$0$0$0$0$0
Total expenses$2,892,726$2,915,921$3,100,276$3,156,051$3,713,658$3,631,288$3,919,574
Program services$2,846,015$2,707,175$2,891,375$2,964,903$3,213,309$3,185,330$3,271,257
Management and general$46,711$35,442$35,597$32,286$30,312$32,958$49,244
Fundraising$0$0$0$0$0$0$0
Payments to affiliates$0$173,304$173,304$158,862$470,037$413,000$599,073
Net assets or fund balances at end of year$5,230,407$5,129,908$6,186,182$6,346,571$6,247,406$6,388,660$6,404,678
Excess or (deficit) for the year$250,693$-100,499$1,056,274$160,389$-99,165$141,254$16,018
Net assets or fund balances at beginning of year$4,979,714$5,230,407$5,129,908$6,186,182$6,346,571$6,247,406$6,388,660
Other changes in net assets or fund balances$0$0$0$0$0$0$0
Statement of Functional Expenses (for 2006)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$3,320,501$3,271,257$49,244$0
Grants paid from donor advised funds$0
Other grants and allocations$0
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$0$0$0$0
Compensation of former officers, directors, key employees, etc.$0$0$0$0
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0$0$0
Salaries and wages of employees not included above$1,102,508$1,102,508$0$0
Pension plan contributions not included above$0$0$0$0
Employee benefits not included above$0$0$0$0
Payroll taxes$0$0$0$0
Professional fundraising fees$0$0$0$0
Accounting fees$8,990$0$8,990$0
Legal fees$40,254$0$40,254$0
Supplies$0$0$0$0
Telephone$0$0$0$0
Postage and shipping$0$0$0$0
Occupancy$434,793$434,793$0$0
Equipment rental and maintenance$0$0$0$0
Printing and publications$0$0$0$0
Travel$0$0$0$0
Conferences, conventions, and meetings$0$0$0$0
Interest$262,098$262,098$0$0
Depreciation, depletion, etc.$314,619$314,619$0$0
Other expenses not covered above$1,157,239$1,157,239$0$0
Balance Sheets
2000200120022003200420052006
Total assets$9,654,136$9,861,745$10,171,044$10,023,417$9,756,043$9,778,819$9,778,024
Cash - non-interest-bearing$0$0$0$0$0$0$0
Savings and temporary cash investments$248,581$377,537$200,113$255,140$251,703$330,781$219,887
Accounts receivable less allowance for doubtful accounts$48,409$35,967$115,567$95,902$160,576$106,479$171,721
Pledges receivable less allowance for doubtful accounts$0$0$0$0$0$0$0
Grants receivable$0$0$0$0$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0$0$0$0$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0
Other notes and loans receivable less allowance for doubtful accounts$0$0$0$0$0$0$0
Inventories for sale or use$0$0$0$0$0$0$0
Prepaid expenses and deferred charges$13,658$14,899$14,899$35,662$64,719$68,383$70,870
Investments - publicly-traded securities$0
Investments - other securities$0$0$0$0$0$0$0
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0$0$0$0$0
Investments - other$0$0$0$0$0$0$0
Land, buildings, and equipment less accumulated depreciation$9,062,987$9,194,444$9,480,808$9,189,937$8,915,203$8,816,758$8,562,497
Other assets, including program-related investments$280,501$238,898$359,657$446,776$363,842$456,418$753,049
Total liabilities$4,423,729$4,731,837$3,984,862$3,676,846$3,508,637$3,390,159$3,373,346
Accounts payable and accrued expenses$245,575$474,488$153,495$56,431$72,302$109,793$223,840
Grants payable$0$249,330$0$0$0$0$0
Deferred revenue$0$0$0$0$0$0$0
Loans from officers, directors, trustees, and key employees$0$0$0$0$0$0$0
Tax-exempt bond liabilities$0$0$0$0$0$0$0
Mortgages and other notes payable$4,022,993$3,870,422$3,683,435$3,469,990$3,275,447$3,124,285$2,995,667
Other liabilities$155,161$137,597$147,932$150,425$160,888$156,081$153,839
Total liabilities and net assets/fund balances$9,654,136$9,861,745$10,171,044$10,023,417$9,756,043$9,778,819$9,778,024
Total net assets or fund balances$5,230,407$5,129,908$6,186,182$6,346,571$6,247,406$6,388,660$6,404,678
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
2000200120022003200420052006
Total revenue$3,143,419$2,815,422$4,156,550$3,316,440$3,614,493$3,772,542$3,935,592
Total revenue, gains, and other support per audited financial statements$3,143,419$2,815,422$4,156,550$3,316,440$3,614,493$3,772,542$3,935,592
Other expenses$0$0$0$0$0$0$0
Net unrealized gains on investments$0$0$0$0$0$0$0
Donated services and use of facilities$0$0$0$0$0$0$0
Recoveries of prior year grants$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0
Other revenue$0$0$0$0$0$0$0
Investment expenses$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
2000200120022003200420052006
Total expenses$2,892,726$2,915,921$3,100,276$3,156,051$3,713,658$3,631,288$3,919,574
Total expenses and losses per audited financial statements$2,892,726$2,915,921$3,100,276$3,156,051$3,749,522$3,336,778$3,902,075
Other revenue$0$0$0$0$35,864$-294,510$-17,499
Donated services and use of facilities$0$0$0$0$0$0$0
Prior year adjustments$0$0$0$0$0$0$0
Losses$0$0$0$0$0$0$0
Other$0$0$0$0$35,864$-294,510$-17,499
Other expenses$0$0$0$0$0$0$0
Investment expenses$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0
Current Officers, Directors, Trustees, and Key Employees
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings5
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?No
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?Yes
Does the organization have a written conflict of interest policy?Yes
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?No
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?Yes
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?No
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?No
Number of employees employed in the pay period that includes March 12, 20060
Analysis of Income-Producing Activities (for 2006)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$8,796$3,926,796
Program service revenue
Program service revenue 1000000$000$0$3,862,831
Program service revenue 2000000$000$0$34,921
Program service revenue 3000000$000$0$29,044
Program service revenue 4000000$000$0$0
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investments000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$8,796$0
Dividends and interest from securities000000$000$0$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$000$0$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$000$0$0
Gain or (loss) from sales of assets other than inventory000000$000$0$0
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$000$0$0
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2006)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0%$0$0
0%$0$0
0%$0$0
0%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2006)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$0$0$0
$0$0$0
$0$0$0
$0$0$0
$0$0$0
Total number of other employees paid over $50,0000
Statements About Activities (for 2006)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?No
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?No
Did the organization maintain any donor advised funds?No
Did the organization make any taxable distributions under section 4966?No
Did the organization make a distribution to a donor, donor advisor, or related person?No
The total number of donor advised funds owned at the end of the tax year$0
The aggregate value of assets held in all donor advised funds owned at the end of the tax year$0
The total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts$0
The aggregate value of assets held in all funds or accounts included above at the end of the tax year$0
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isNot controlled by disqualified persons/supports non private foundation
Type of supporting organizationType I
Support Schedule
1999200020012002200320042005
Total$0$0$0$0$0$0$0
Gifts, grants, and contributions received$0$0$0$0$0$0$0
Membership fees received$0$0$0$0$0$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$0$0$0$0$0$0$0
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$0$0$0$0$0$0$0
Net income from unrelated business activities not included above$0$0$0$0$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0$0$0$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0$0$0$0$0$0
Other income$0$0$0$0$0$0$0
Lobbying Expenditures by Electing Public Charities (for 2006)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1South Dakota Housing Development AuthorityPO BOX 1237, Pierre, SD 57501-1237SD1974-01$148,285,307
2National Equity Fund Inc10 S Riverside Plz Ste 1700, Chicago, IL 60606-3801IL$35,745,570
3Philadelphia Housing Development Corporation1234 Market St Ste 17, Phila, PA 19107-3705PA1967-04$25,009,732
4Patterson Park Community Development Corporation1 E Pratt St Ste 800, Baltimore, MD 21202-1127MD1996-07$13,261,320
5Depaul Properties Inc1931 Buffalo Rd, Rochester, NY 14624-1535NY1982-04$12,373,981
6The Primavera Foundation Inc151 W 40th St, Tucson, AZ 85713-3994AZ1995-02$10,206,438
7Edgewood Terrace Preservation Corporation8403 Colesville Rd Ste 1150, Silver Spring, MD 20910-6331MD1995-08$4,681,533
8West Oak Lane Community Development Corp2502 W Cheltenham Ave, Philadelphia, PA 19150-1403PA1980-09$191,386
9Union West Florissant Housing Solutions Inc7700 Forsyth Blvd Ste 1800, Saint Louis, MO 63105-1807MO1999-10$157,634
10Tomorrows Home Foundation Inc258 Corporate Dr Ste 200c, Madison, WI 53714-2407WI2000-01$77,492
11Homeownership Opportunities For People Everywhere Of New Orleans2527 Blossom Bay Court, Houston, TX 77059-3183TX1994-12$867
12Charity For The Economic Empowerment Of The North Country81 Blair Road, Plattsburgh, NY 12901NY2009-07$0
13Cole Coalition Inc135 E Main St Ste 4, Trinidad, CO 81082-2763CO1992-02$0
14Destiny Community Development Corporation204 Auburn Ave Ne, Atlanta, GA 30303-2602GA2002-11$0
15Home Again Restorations575 Springwood Ct, E Dundee, IL 60118-3030IL2005-11$0
16S & A Community Development Corporation34 Axie Smith Road, Quincy, FL 32352FL2006-12$0
17Scalzo Group Project Restoration Inc6 Stony Hill Road, Bethel, CT 06801-1053CT2006-11$0
18Southside Partners Inc1211 Hiatt St, Indianapolis, IN 46221-1533IN2001-02$0
19Spirit Opportunity Corp6709 Latijera Blvd 825, Los Angeles, CA 90045-2017CA2002-10$0
20Westfall Foundation Inc1305 Argillite Rd, Flatwoods, KY 41139KY2008-07$0
Number of organizations performing similar types of work
Arizona1
California3
Colorado2
Connecticut1
Florida1
Georgia2
Illinois4
Indiana1
Kentucky1
Louisiana1
Massachusetts3
Maryland2
Michigan3
Minnesota3
Missouri2
Mississippi1
New York7
Ohio3
Pennsylvania3
South Dakota1
Texas1
Virginia2
Wisconsin2
Total50

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