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Margate Terrace Development Corporation

Tax-deductible

Margate, NJ501(c)(3)HousingEIN 81-5019694Revenue $46K in FY2025

On file with the IRS610 North Fredericksburg Avenue, 08402-2072 · Margate, NJTax-exempt since Aug 2017Supporting org, Type I — 509(a)(3)

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Serve as developer and provide support for Margate Terrace Corporation, a NJ nonprofit corporation.

501(c)(3) charity; gifts are tax-deductible.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78

Before you give

FY2025 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
6 of 6
filings with a surplus
Average surplus $31K a year · 64% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Concern: 0.1 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$8K
0.8% of total assets
Looks good: liabilities are 1% of assets; 50% or less.
Pt X · Ln 26
Independent board members
4
of 4 voting members
Looks good: 4 of 4 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$46K
+149% vs prior year
Spent
$22K
To programs
0%
Net assets
$989K
By yearFY2020–FY2025
Revenue
$46K
FY2025▲ +149%
Tap a bar for its year
Revenue by fiscal year
FY2020$93K
FY2021$41K
FY2022$58K
FY2023$33K
FY2024$19K
FY2025$46K
Expenses
$22K
FY2025▲ +20%
Tap a bar for its year
Expenses by fiscal year
FY2020$11K
FY2021$19K
FY2022$19K
FY2023$15K
FY2024$18K
FY2025$22K
Net assets
$989K
FY2025▲ +6%
Tap a bar for its year
Net assets by fiscal year
FY2020$829K
FY2021$958K
FY2022$820K
FY2023$862K
FY2024$929K
FY2025$989K

From the FY2025 Form 990 (year ending June 2025) · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Aug 2017.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

What each dollar paid for.

Management & general 100% · $22K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

4 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
Daniel Campbell
Trustee/President
$0Pt VII · Sec A
Jennifer Wagner
Trustee/Vice President
$0Pt VII · Sec A
Jennifer Seligsohn
Trustee/Secretary
$0Pt VII · Sec A
Chuck Labarre
Trustee/Treasurer
$0Pt VII · Sec A
See Margate Terrace Development Corporation executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Develop and support Margate Terrace Corporation, a New Jersey nonprofit.

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Provided by the organization

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1 program · in their own filed words · FY2024
01

During the fiscal year ended 06-30-17, Margate Terrace Development Corporation assisted Margate Terrace Corporation, a New Jersey Nonprofit corporation, in securing a new loan to begin major repairs and improvements to a 75 unit low-income elderly and disabled rental apartment project owned by Margate Terrace Corporation.

Pt IX · col B

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$46K
Ln 12
Investment incomeLn 3$46K
Money outPt IX
$22K
Ln 25
Managementcol C$22K
Owns and owesPt X
$989K
net assets · Ln 32
Cash and savingsLn 1–2$172
Total assetsLn 16$997K
LiabilitiesLn 26$8K
PeoplePt VI, VII
4
listed · VII A
PaidVII A0
Voting boardVI 1a4
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Investment incomeLn 3$46K
Gains on assetsLn 7−$4K
Total revenueLn 12$46K
Assets in detailPt X, end of year
CashLn 1$172
Cash and savings togetherLn 1–2$172
InvestmentsLn 11–13$814K
Other assetsLn 15$183K
Total assetsLn 16$997K
LiabilitiesLn 26$8K
Net assetsLn 32$989K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$50$172
InvestmentsLn 11–13$750K$814K
Total assetsLn 16$933K$997K
LiabilitiesLn 26$4K$8K
Net assetsLn 32$929K$989K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$4K$4K
Investment management feesLn 11f$15K$15K
Office expensesLn 13$1K$1K
InsuranceLn 23$2K$2K
Total functional expensesLn 25$22K$0$22K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $46K$22K$24K$989K 990 PDF
FY2024 $19K$18K$286$929K 990 PDF
FY2023 $33K$15K$18K$862K 990 PDF
FY2022 $58K$19K$39K$820K 990 PDF
FY2021 $41K$19K$22K$958K 990 PDF
FY2020 $93K$11K$82K$829K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2025 990 (6 parts)
Part I · Summary $46,159 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $18,508$46,159
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $18,508$46,159
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $18,222$21,874
I-18 Total expensesPrior year $18,222$21,874
I-19 Revenue less expensesPrior year $286$24,285
Part VI · Governance 4 of 4 board members independent, 4 to look at
VI-1a Voting members of the governing body4
VI-1b Independent voting members4
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $46,159 across 3 lines filed
VIII-3 Investment incomeExcluded from tax $50,268$50,268
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$4,109−$4,109
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $46,159$46,159
Part IX · Statement of functional expenses $21,874 across 4 lines filed
IX-11c Accounting feesManagement $3,900$3,900
IX-11f Investment management feesManagement $15,446$15,446
IX-13 Office expensesManagement $1,000$1,000
IX-23 InsuranceManagement $1,528$1,528
IX-25 Total functional expensesPrograms $0 · Management $21,874 · Fundraising $0$21,874
Part X · Balance sheet $996,508 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $50$172
X-11 Publicly traded securitiesStart of year $749,809$813,569
X-15 Other assetsStart of year $182,767$182,767
X-16 Total assetsStart of year $932,626$996,508
X-17 Accounts payable and accrued expensesStart of year $3,925$3,925
X-25 Other liabilitiesStart of year $0$3,900
X-26 Total liabilitiesStart of year $3,925$7,825
X-32 Total net assets or fund balancesStart of year $928,701$988,683
X-33 Total liabilities and net assetsStart of year $932,626$996,508
Part XI · Reconciliation of net assets $988,683 net assets at year end
XI-1 Total revenue$46,159
XI-2 Total expenses$21,874
XI-3 Revenue less expenses$24,285
XI-4 Net assets at start of year$928,701
XI-9 Other changes in net assets$35,697
XI-10 Net assets at end of year$988,683

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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