Form 990 for tax year 2023
Filed by LARCHWOOD ECONOMIC DEVELOPMENT CORPORATION.
Totals
- Total revenue
- $109,622
- Total expenses
- $43,178
- Contributions and grants received
- $103,298
- Grants paid
- $28,524
- Program service revenue
- $0
- Investment income
- $0
- Other revenue
- $6,324
- Total assets, end of year
- $655,212
- Total liabilities, end of year
- $129,988
- Net assets or fund balances, end of year
- $525,224
- Program services expenses (Part IX)
- $40,515
- Management and general expenses
- $2,663
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $40,515
Program services were 93.8% 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.
-
1e · Government grants (contributions)
$103,298
-
6a · Gross rents
real property $4,675
-
6b · Less rental expenses
real property $591
-
6c · Rental income or loss
real property $4,084
-
6d · Net rental income or loss
total $4,084 · excluded $4,084
-
10a · Gross sales of inventory
$85,000
-
10b · Cost of goods sold
$82,760
-
10c · Net income from sales of inventory
total $2,240 · related or exempt $2,240
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $28,524 · program services $28,524
-
11c · Fees: accounting
total $750 · management and general $750
-
16 · Occupancy
total $736 · program services $736
-
20 · Interest
total $10,745 · program services $10,745
-
23 · Insurance
total $2,423 · program services $510 · management and general $1,913
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $24,244 · end of year $30,578
-
8 · Inventories for sale or use
beginning of year $683,634 · end of year $624,634
-
23 · Secured mortgages and notes payable
beginning of year $249,098 · end of year $129,988
-
27 · Net assets without donor restrictions
beginning of year $458,780 · end of year $525,224
Mission and programs · 2023
Mission
TO PROMOTE THE GROWTH OF LARCHWOOD
-
ACQUSITION OF LAND FOR SUBSEQUENT CITY DEVELOPMENT AND SALE TO HOMEOWNERS AND BUSINESSES
Expenses $11,991 · Revenue $154,973
-
TO PROMOTE AND ASSIST AREA CHILD CARE CENTERS TO ENSURE CHILD CARE AVAILABILITY FOR THE BUSINESSES AND RESIDENTS OF THE LARCHWOOD AREA
Expenses $28,524 · Grants $28,524 · Revenue $38,000
As filed on the 2023 return.
Listed in Part VII
-
James Van BeekJAMES VAN BEEK
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
Daniel DavidDANIEL DAVID
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
Steve MichaelSTEVE MICHAEL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
Jesse NiemeyerJESSE NIEMEYER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
Morgan HoogendoornMORGAN HOOGENDOORN
TREASURER
- Total calculated
- $0
- Hours/week
- 0.2
-
Jared Vander SandenJARED VANDER SANDEN
PRESIDENT
- Total calculated
- $0
- Hours/week
- 0.1
-
Elaine SnydersELAINE SNYDERS
SECRETARY
- Total calculated
- $0
- Hours/week
- 0.1
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
-
SUBSIDIZE OPERATIONS
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 9 May 2024
- IRS schema version
- 2023v5.0
- Source object
- 202411369349315631
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