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Nonprofiteer
← MARSHALL COUNTY LIFE CENTER INC

Form 990 for tax year 2022

Filed by MARSHALL COUNTY LIFE CENTER INC.

Totals

Total revenue
$390,238
Total expenses
$694,245
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$390,238
Investment income
$0
Other revenue
$0
Total assets, end of year
$11,228,182
Total liabilities, end of year
$9,538,120
Net assets or fund balances, end of year
$1,690,062
Program services expenses (Part IX)
$627,621
Management and general expenses
$66,624
Fundraising expenses
$0
Program service expenses (Part III)
$627,621

Program services were 90.4% 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.

  • 2a · Program service revenue: RENTAL INCOME

    total $390,238 · related or exempt $390,238

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $30,750 · program services $30,750

  • 11b · Fees: legal

    total $20,938 · program services $20,938

  • 20 · Interest

    total $247,591 · program services $247,591

  • 22 · Depreciation, depletion and amortization

    total $295,801 · program services $295,801

  • 23 · Insurance

    total $12,492 · program services $12,492

  • 24a · Other expenses: DISTRIBUTABLE INCOME TO

    total $66,624 · management and general $66,624

  • 24b · Other expenses: PROJECT MANAGEMENT

    total $11,175 · program services $11,175

  • 24c · Other expenses: PROPERTY TAXES

    total $8,874 · program services $8,874

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $308,068 · end of year $254,187

  • 4 · Accounts receivable

    beginning of year $8,670

  • 9 · Prepaid expenses and deferred charges

    beginning of year $14,330 · end of year $8,580

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

    $11,632,911

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

    $999,866

  • 10c · Land, buildings and equipment, net

    beginning of year $10,928,846 · end of year $10,633,045

  • 14 · Intangible assets

    beginning of year $263,155 · end of year $253,921

  • 15 · Other assets

    beginning of year $0 · end of year $78,449

  • 17 · Accounts payable and accrued expenses

    end of year $9,120

  • 23 · Secured mortgages and notes payable

    beginning of year $9,529,000 · end of year $9,529,000

  • 27 · Net assets without donor restrictions

    beginning of year $1,994,069 · end of year $1,690,062

Mission and programs · 2022

Mission

TO HOLD TITLE TO AND MANAGE REAL AND TO A LIMITED EXTENT PERSONAL PROPERTY OF THE MARSHALL COUNTY ECONOMIC DEVELOPMENT CORPORATION.

  • HOLDING TITLE TO PROPERTY, COLLECTING INCOME THEREFROM AND TURNING OVER THE ENTIRE AMOUNT THEREOF, LESS EXPENSES TO MARSHALL COUNTY ECONOMIC DEVELOPMENT CORPORATION.

    Expenses $627,621

As filed on the 2022 return.

Listed in Part VII

  • Cory McClarnon

    BOARD OF DIRECTORS

    Total calculated
    $0
    Hours/week
    0.5

  • Dan Tyree

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    0.5

  • Francis Ellert

    BOARD OF DIRECTORS

    Total calculated
    $0
    Hours/week
    0.5

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.

Provenance

Return type
form_990
Tax year
2022
Filed
2 November 2023
IRS schema version
2022v5.0
Source object
202333069349302753

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