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Nonprofiteer
← RDC COMMERCIAL CENTER INC

Form 990 for tax year 2022

Filed by RDC COMMERCIAL CENTER INC.

Totals

Total revenue
$4,484,188
Total expenses
$5,571,396
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$3,777,569
Investment income
$377,902
Other revenue
$328,717
Total assets, end of year
$14,632,750
Total liabilities, end of year
$28,106,812
Net assets or fund balances, end of year
-$13,474,062
Program services expenses (Part IX)
$4,859,946
Management and general expenses
$711,450
Fundraising expenses
$0
Program service expenses (Part III)
$4,859,946

Program services were 87.2% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: Rental Income

    total $3,777,569 · related or exempt $3,777,569

  • 3 · Investment income

    total $377,902 · excluded $377,902

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6d · Net rental income or loss

    total $0

  • 7d · Net gain or loss

    total $0

  • 8c · Net income from fundraising events

    total $0

  • 9c · Net income from gaming

    total $0

  • 10c · Net income from sales of inventory

    total $0

  • 11a · Other revenue: Administrative Fees

    total $328,717 · related or exempt $328,717

  • 11e · Other revenue, total

    $328,717

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $0

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $656,700 · program services $591,309 · management and general $65,391

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $1,377,903 · program services $803,658 · management and general $574,245

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $0

  • 10 · Payroll taxes

    total $91,978 · program services $85,454 · management and general $6,524

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $3,269 · program services $3,269

  • 11c · Fees: accounting

    total $75,376 · program services $75,376

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $377,680 · program services $377,680

  • 12 · Advertising and promotion

    total $2,115 · program services $2,115

  • 13 · Office expenses

    total $797,451 · program services $797,451

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $1,228,923 · program services $1,163,633 · management and general $65,290

  • 17 · Travel

    total $494 · program services $494

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $0

  • 20 · Interest

    total $23,400 · program services $23,400

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $693,393 · program services $693,393

  • 23 · Insurance

    total $242,714 · program services $242,714

  • 24e · All other expenses

    total $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $130,256 · end of year $94,122

  • 2 · Savings and temporary cash investments

    end of year $0

  • 3 · Pledges and grants receivable

    end of year $0

  • 4 · Accounts receivable

    beginning of year $636,297 · end of year $1,316,183

  • 5 · Loans and receivables from officers and key people

    end of year $0

  • 6 · Loans and receivables from disqualified persons

    end of year $0

  • 7 · Other notes and loans receivable

    end of year $0

  • 8 · Inventories for sale or use

    end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,599,988 · end of year $2,583,620

  • 10a · Land, buildings and equipment: cost or other basis

    $30,960,050

  • 10b · Land, buildings and equipment: accumulated depreciation

    $20,697,067

  • 10c · Land, buildings and equipment, net

    beginning of year $10,546,304 · end of year $10,262,983

  • 11 · Investments: publicly traded securities

    end of year $0

  • 12 · Investments: other securities

    end of year $0

  • 13 · Investments: program-related

    end of year $0

  • 14 · Intangible assets

    end of year $0

  • 15 · Other assets

    beginning of year $350,163 · end of year $375,842

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,039,114 · end of year $1,489,622

  • 19 · Deferred revenue

    end of year $147,020

  • 23 · Secured mortgages and notes payable

    beginning of year $23,799,980 · end of year $23,799,980

  • 25 · Other liabilities

    beginning of year $1,814,952 · end of year $2,670,190

  • 27 · Net assets without donor restrictions

    beginning of year -$12,391,038 · end of year -$13,474,062

Mission and programs · 2022

Mission

To develop and operate commercial/rental facilities in Bedford Stuyvesant to combat urban decay, create jobs and business opportunities, and stimulate commercial revitalization.

  • To develop and operate commercial/rental facilities in bedford Stuyvesant to combat urban decay, create jobs and business opportunities and stimulate commercial revitalization.

    Expenses $4,859,946 · Revenue $3,777,569

As filed on the 2022 return.

Listed in Part VII

  • Dyrnest Sinckler

    VP/ Vice Chair

    Total calculated
    $190,734
    From this org
    $167,060
    From related orgs
    $0
    Other
    $23,674
    Hours/week
    37 + 1 related

    Schedule J breakdown matched by us

    Base
    $167,060
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    $23,674
    Filer's total
    $190,734

  • Blondel A Pinnock

    President/Chair

    Total calculated
    $168,251
    From this org
    $0
    From related orgs
    $166,849
    Other
    $1,402
    Hours/week
    1 + 37.5 related

    Schedule J breakdown matched by us

    Base
    not reported + $166,849 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported + $1,402 related
    Filer's total
    not reported + $168,251 related

  • Chioma Ruth Onwumere

    Treasurer

    Total calculated
    $119,938
    From this org
    $0
    From related orgs
    $110,015
    Other
    $9,923
    Hours/week
    1 + 35 related

  • Clarence Stewart

    Vice President

    Total calculated
    $97,662
    From this org
    $86,390
    From related orgs
    $0
    Other
    $11,272
    Hours/week
    35 + 1.5 related

  • Doris Rowley Hoyte

    Secretary

    Total calculated
    $80,902
    From this org
    $0
    From related orgs
    $69,630
    Other
    $11,272
    Hours/week
    1 + 35 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • RDC of Bedford Stuyvesant Inc

    C CORP · Developer · NY

  • CDR Management Corporation

    C Corp · Managing Agent · NY

  • The Platinum Factory Inc

    C Corp · Recording Studio · NY

  • Restoration Supermarket Corp

    C Corp · Supermarket · NY

Provenance

Return type
form_990
Tax year
2022
Filed
4 December 2024
IRS schema version
2022v5.0
Source object
202413399349300936

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