Form 990 for tax year 2023
Filed by HARBOR BANK OF MARYLAND COMMUNITY DEVELOPMENT CORPORATION.
Totals
- Total revenue
- $862,389
- Total expenses
- $1,082,845
- Contributions and grants received
- $675,000
- Grants paid
- $0
- Program service revenue
- $0
- Investment income
- $145,035
- Other revenue
- $42,354
- Total assets, end of year
- $5,721,804
- Total liabilities, end of year
- $4,678,683
- Net assets or fund balances, end of year
- $1,043,121
- Program services expenses (Part IX)
- $873,751
- Management and general expenses
- $177,711
- Fundraising expenses
- $31,383
- Program service expenses (Part III)
- $873,751
Program services were 80.7% 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.
-
1f · All other contributions, gifts and grants
$675,000
-
3 · Investment income
total $145,035 · excluded $145,035
-
11a · Other revenue: OTHER INCOME
total $42,354 · excluded $42,354
-
11e · Other revenue, total
$42,354
Functional expenses
Part IX, the statement of functional expenses.
-
7 · Other salaries and wages
total $204,987 · program services $122,992 · management and general $51,247 · fundraising $30,748
-
9 · Other employee benefits
total $8,010 · program services $6,317 · management and general $1,058 · fundraising $635
-
11b · Fees: legal
total $12,699 · program services $4,798 · management and general $7,901
-
11c · Fees: accounting
total $45,500 · management and general $45,500
-
11g · Fees: other
total $120,489 · program services $106,339 · management and general $14,150
-
13 · Office expenses
total $29,443 · management and general $29,443
-
14 · Information technology
total $23,413 · program services $17,560 · management and general $5,853
-
16 · Occupancy
total $130,138 · program services $117,124 · management and general $13,014
-
17 · Travel
total $5,000 · management and general $5,000
-
20 · Interest
total $126,458 · program services $126,458
-
22 · Depreciation, depletion and amortization
total $45,451 · program services $40,906 · management and general $4,545
-
23 · Insurance
total $19,439 · program services $19,439
-
24a · Other expenses: BAD DEBT EXPENSES
total $300,000 · program services $300,000
-
24b · Other expenses: DUES
total $6,076 · program services $6,076
-
24c · Other expenses: DONATIONS
total $5,000 · program services $5,000
-
24d · Other expenses: MISC.
total $742 · program services $742
Balance sheet
Part X, book values.
-
2 · Savings and temporary cash investments
beginning of year $2,460,086 · end of year $1,387,154
-
4 · Accounts receivable
beginning of year $85,700 · end of year $116,618
-
7 · Other notes and loans receivable
beginning of year $3,078,586 · end of year $3,770,898
-
10a · Land, buildings and equipment: cost or other basis
$450,684
-
10b · Land, buildings and equipment: accumulated depreciation
$255,800
-
10c · Land, buildings and equipment, net
beginning of year $201,915 · end of year $194,884
-
13 · Investments: program-related
end of year $250,000
-
15 · Other assets
beginning of year $2,250 · end of year $2,250
-
17 · Accounts payable and accrued expenses
beginning of year $62,710 · end of year $178,683
-
24 · Unsecured notes and loans payable
beginning of year $4,500,000 · end of year $4,500,000
-
25 · Other liabilities
beginning of year $2,250
-
27 · Net assets without donor restrictions
beginning of year $763,577 · end of year $1,043,121
-
28 · Net assets with donor restrictions
beginning of year $500,000
Mission and programs · 2023
Mission
TO SERVICE AND PROVIDE CAPITAL AND FINANCIAL SERVICES TO RESIDENTS AND GROUPS LIVING AND BUSINESSES OPERATING IN LOW-INCOME COMMUNITIES OF BALTIMORE CITY AND SURROUNDING AREAS BY FURTHERING AND PROMOTING EXCLUSIVELY, CHARITABLE, RELIGIOUS, EDUCATIONAL AND SCIENTIFIC PURPOSES.
Activities or mission (Part I)
THE HARBOR BANK OF MARYLAND COMMUNITY DEVELOPMENT CORPORATION PROVIDES FINANCING TO MARYLAND COMMUNITY INSTITUTIONS, FAITH BASED ORGANIZATIONS, & SMALL BUSINESSES THAT OTHERWISE MAY HAVE DIFFICULTY OBTAINING FINANCING FOR COMMUNITY DEVELOPMENT.
-
HOUSING - RESIDENTIAL & COMMERCIAL CONSTRUCTION & REHABILITATION IN AN ATTEMPT TO REVITALIZE NEIGHBORHOODS
Expenses $873,751
As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Germano GomezGERMANO GOMEZ
VICE PRESIDE
- Total calculated
- $130,763
- From this org
- $130,763
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Chevelle HillCHEVELLE HILL
OFFICER
- Total calculated
- $30,555
- From this org
- $30,555
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
John LewisJOHN LEWIS
EXEC. VICE P
- Total calculated
- $4,650
- From this org
- $4,650
- From related orgs
- $0
- Other
- $0
- Hours/week
- 5
-
Bria BailyBRIA BAILY
OFFICER
- Total calculated
- $3,077
- From this org
- $3,077
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Joseph Haskins JrJOSEPH HASKINS JR
CHAIRMAN AND
- Total calculated
- $0
-
Erich W MarchERICH W MARCH
DIRECTOR
- Total calculated
- $0
-
Stacy SmithSTACY SMITH
DIRECTOR
- Total calculated
- $0
-
Alvin C Hathaway SrALVIN C HATHAWAY SR
DIRECTOR
- Total calculated
- $0
-
Stanley W TuckerSTANLEY W TUCKER
DIRECTOR
- Total calculated
- $0
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.
Grants on this return
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 15 November 2024
- IRS schema version
- 2023v5.0
- Source object
- 202403209349323265
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