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EIN 51-0344804

Laurel Redevelopment Corporation

IRS 501(c) type
501(c)(3)
Num. employees
1
City
Laurel
State
Delaware
Year formed
1992
Most recent tax filings
2023-06-01
NTEE code, primary
S31: Urban, Community Economic Development
Description
Laurel Redevelopment Corporation acquires multiple properties in downtown Laurel to rehabilitate the town, incurs expenses related to these properties, and rents them out to new businesses with the mission of revitalizing Downtown Laurel, DE.
Total revenues
$534,965
2023
Total expenses
$288,060
2023
Total assets
$4,073,949
2023
Num. employees
1
2023

Program areas at Laurel Redevelopment Corporation

The Corporation has acquired several properties in downtown Laurel for the purpose of rehabilitating the town of Laurel. The expenses incurred relate to these properties. The properties are then rented to new businesses, thus revitalizing part of downtown Laurel.

Grants made by Laurel Redevelopment Corporation

GranteeAmount
Laurel Historical Society$5,001

Personnel at Laurel Redevelopment Corporation

NameTitleCompensation
Brian ShannonExecutive Director$70,000
Barry MorrisonPresident$0
H Donovan PhillipsVice - President$0
Ann LeeSecretary$0

Financials for Laurel Redevelopment Corporation

RevenuesFYE 06/2023
Total grants, contributions, etc.$546,077
Program services$0
Investment income and dividends$65,839
Tax-exempt bond proceeds$0
Royalty revenue$0
Net rental income$-46,456
Net gain from sale of non-inventory assets$-30,495
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous revenues$0
Total revenues$534,965

Form 990s for Laurel Redevelopment Corporation

Fiscal year endingDate received by IRSFormPDF link
2023-062023-11-07990View PDF
2022-062022-11-17990View PDF
2021-062021-10-01990View PDF
2020-062021-02-19990View PDF
2019-062020-09-23990View PDF
...and 9 more Form 990s
Data update history
January 20, 2024
Posted financials
Added Form 990 for fiscal year 2023
November 25, 2023
Posted financials
Added Form 990 for fiscal year 2022
June 13, 2023
Updated personnel
Identified 6 new personnel
June 7, 2023
Posted financials
Added Form 990 for fiscal year 2021
June 4, 2023
Updated personnel
Identified 1 new personnel
Nonprofit Types
Public sector nonprofitsBusiness and community development organizationsCharities
Issues
Community improvementEconomic development
Characteristics
State / local levelReceives government fundingTax deductible donations
General information
Address
PO Box 333
Laurel, DE 19956
Metro area
Salisbury, MD-DE
Website URL
laurelredevelopment.com/ 
Phone
(302) 875-0601
IRS details
EIN
51-0344804
Fiscal year end
June
Taxreturn type
Form 990
Year formed
1992
Eligible to receive tax-deductible contributions (Pub 78)
Yes
Categorization
NTEE code, primary
S31: Urban, Community Economic Development
NAICS code, primary
926110: Economic Development Corporations and Economic Program Organizations
Parent/child status
Independent
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