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New York BBB Wise Giving Report for
Greater Jamaica Development Corporation

A BBB Accredited charity

 


  • Meets all standards

Expiration Date:
08/2015
Name:
Greater Jamaica Development Corporation
Address:
90-04 161st Street
Suite 704
Jamaica, NY 11432
Phone:
718-291-0282
Web Site:
Year, State Incorporated:
1967, New York
Affiliates:
Jamaica Center Holding Company, Inc., Greater Jamaica Local Development Company, Inc, Jamaica First Parking, LLC, Jamaica Capital Corporation, Jamaica Hotel Development Company, LLC
Stated Purpose:
" Plans, promotes, coordinates and advances responsible development to revitalize Jamaica and strengthen the region "






Evaluation Conclusions
 

              
Greater Jamaica Development Corporation (GJDC) meets the 20 Standards for Charity Accountability.




Programs
 

              
Greater Jamaica Development Corporation (GJDC) envisions downtown Jamaica as a dynamic, modern and efficient multiple purpose center offering a pleasant and productive experience for those who work, live and visit there. GJDC expands economic opportunity and improves the quality of life for the ethnically and economically diverse residents of Jamaica and for the region at large, which benefits from rational, well-planned and sustainable metropolitan growth. The organization plans to rebuild Jamaica Center to accommodate a complex of region-serving facilities, airport-related enterprises and county-wide government services.



Governance
 

              
Chief Executive Officer:
F. Carlisle Towery, Executive Director
Compensation*:
$302,599
Chair of the Board:
Daniel Greene
Chair's Profession / Business Affiliation:
Manhattan Division Director / Citibank
Board Size:
26
Paid Staff Size:
52



*Compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.




Fund Raising
 

              
Method(s) Used:


Invitations to fund raising events, grant proposals
Fund raising costs were 28.5% of related contributions. (Related contributions, which totaled $794,313.49, are donations received as a result of fund raising activities.)




Tax Status
 

              
This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.




Financial
 

              
The following information is based on GJDC's Audited Financial Statements for the fiscal year ended December 31, 2012.

Source of Funds  

Parking revenues

$5,251,040

Rental income

3,534,635

Government contracts and grants

2,725,591

Corporate and foundation grants

213,553

Interest income

210,797

Special events

206,849

Miscellaneous revenues

98,381

Total Income

$12,240,846

Program Expenses  

Parking operations

$4,233,331

Property management

3,530,788

Infrastructure projects

2,547,442

Economic development

1,018,220

Business services

433,831
Total Program Expenses:
Fund Raising Expenses
Administrative Expenses
Other Expenses

Total expenses

Expenses in Excess of Income

11,763,612
226,569
1,904,437
140,085

$14,034,703

$(1,793,857)




Uses of Funds as a % of Total Expenses


Programs: 84%  Fund Raising: 2%  Administrative 14%  Other Expenses: 1%
Roll the cursor over the pie chart to see the dollar amounts.


Beginning net assets $13,263,676
Ending net assets 11,521,976
Total liabilities 52,915,532

Total assets

$64,437,508






 

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