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← PROJECT HOME DEVELOPMENT CORPORATION

Form 990 for tax year 2023

Filed by PROJECT HOME DEVELOPMENT CORPORATION.

Totals

Total revenue
$598,155
Total expenses
$528,385
Contributions and grants received
$208,510
Grants paid
$0
Program service revenue
$388,514
Investment income
$1,131
Other revenue
$0
Total assets, end of year
$2,213,650
Total liabilities, end of year
$3,521,473
Net assets or fund balances, end of year
-$1,307,823
Program services expenses (Part IX)
$481,933
Management and general expenses
$46,452
Fundraising expenses
$0
Program service expenses (Part III)
$481,933

Program services were 91.2% 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.

  • 1d · Related organizations

    $208,510

  • 2a · Program service revenue: TENANT RENTAL INCOME

    total $378,456 · related or exempt $378,456

  • 2f · All other program service revenue

    total $10,058 · related or exempt $10,058

  • 3 · Investment income

    total $1,131 · excluded $1,131

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $166,549 · program services $129,044 · management and general $37,505

  • 11c · Fees: accounting

    total $6,200 · management and general $6,200

  • 11g · Fees: other

    total $1,615 · program services $1,615

  • 13 · Office expenses

    total $5,394 · program services $3,095 · management and general $2,299

  • 16 · Occupancy

    total $133,644 · program services $133,644

  • 17 · Travel

    total $586 · program services $586

  • 20 · Interest

    total $11,621 · program services $11,621

  • 22 · Depreciation, depletion and amortization

    total $148,083 · program services $148,083

  • 23 · Insurance

    total $34,098 · program services $34,098

  • 24a · Other expenses: EQUIPMENT AND MAINTENAN

    total $9,519 · program services $9,519

  • 24b · Other expenses: CONSTRUCTION MATERIALS

    total $5,742 · program services $5,742

  • 24c · Other expenses: LICENSES & SUBSCRIPTION

    total $1,895 · program services $1,895

  • 24d · Other expenses: BAD DEBT

    total $448 · management and general $448

  • 24e · All other expenses

    total $2,991 · program services $2,991

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $37,930 · end of year -$126

  • 2 · Savings and temporary cash investments

    beginning of year $49,997 · end of year $82,791

  • 4 · Accounts receivable

    beginning of year $47,215 · end of year $60,815

  • 9 · Prepaid expenses and deferred charges

    beginning of year $13,150 · end of year $14,961

  • 10a · Land, buildings and equipment: cost or other basis

    $4,528,425

  • 10b · Land, buildings and equipment: accumulated depreciation

    $2,597,923

  • 10c · Land, buildings and equipment, net

    beginning of year $2,078,585 · end of year $1,930,502

  • 15 · Other assets

    beginning of year $108,535 · end of year $124,707

  • 17 · Accounts payable and accrued expenses

    beginning of year $509,611 · end of year $537,621

  • 19 · Deferred revenue

    beginning of year $4,925 · end of year $24,764

  • 23 · Secured mortgages and notes payable

    beginning of year $2,428,889 · end of year $2,189,678

  • 25 · Other liabilities

    beginning of year $769,580 · end of year $769,410

  • 27 · Net assets without donor restrictions

    beginning of year -$1,377,593 · end of year -$1,307,823

Mission and programs · 2023

Mission

TO FOSTER DECENT HOUSING WHICH IS AFFORDABLE BY LOW-INCOME AND MODERATE-INCOME HOUSEHOLDS.

  • PRAIRIE CROSSING APARTMENTS ARE SECTION 42 APARTMENTS FOR LOW INCOME INDIVIDUALS AND FAMILIES. THEY ARE LOCATED ON ALLIED DRIVE, CLOSE TO SHOPPING, BUS ROUTES AND A BIKE PATH. ALL 48 UNITS HAVE 2 BEDROOMS. QUALIFIED TENANTS' INCOMES MUST BE AT OR BELOW 60% OF COUNTY MEDIAN INCOME LEVEL.

    Expenses $481,933 · Revenue $388,514

As filed on the 2023 return.

Listed in Part VII

  • KARYN KNAAK

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • ADAM KLEINMAUS

    VICE PRESIDENT/TREASURER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • RYAN ESTRELLA

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • DENISE MATYKA

    EXECUTIVE DIRECTOR

    Total calculated
    $87,251
    From this org
    $0
    From related orgs
    $79,277
    Other
    $7,974
    Hours/week
    2.5 + 27 related

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

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • PROJECT HOME I LLC

    AFFORDABLE HOUSING · WI · income $598,155 · assets $2,213,650

    Directly controlled by PROJECT HOME DEVELOPMENT CORPORATION

Provenance

Return type
form_990
Tax year
2023
Filed
3 September 2024
IRS schema version
2023v5.1
Source object
202432759349301553

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