Mayfair Community Development Corporation

“Description: interest income. Amount: 34.”

“Description: insurance. Amount: 10,868. Description: telephone and internet. Amount: 2,659. Description: depreciation. Amount: 8,912. Description: program expenses. Amount: 3,603. Description: office expenses. Amount: 288. Description: charitable registration fees. Amount: 175. Total to form 990-ez, line 16: 26,505.”

“Description: accrued expenses. Beg. Of year amount: 2,150. End of year amount: 0.”

“The bylaws were amended on june 4, 2024, as follows: - the mission of the organization was updated to "cultivate growth, development, and community investment." previously, the mission of the organization was to "enhance the physical environment, increase the economic vitality, and improve the quality of life in the mayfair community of philadelphia." - the following dissolution clause was added: "mayfair community development corporation may be dissolved by a majority vote of the board of directors. Upon the dissolution of the corporation, assets shall be distributed for one or more exempt purposes within the meaning of section 501(c)(3) of the internal revenue code, or the corresponding section of any future federal tax code, or shall be distributed to the federal government, or to a state or local government, for a public purpose. Any such assets not so disposed of shall be disposed of by a court of competent jurisdiction of the county in which the principal office of the corporation is then located, exclusively for such purposes or to such organization or organizations, as said court shall determine, which are organized and operated exclusively for such purposes." previously, the bylaws stated, "on liquidation or dissolution, all properties, assets, and obligations shall be distributed and paid over to an organization dedicated to charitable purposes which has established its tax-exempt status under irs code section 501(c)(3)."”