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Nonprofiteer
← TALLADEGA COLLEGE REAL ESTATE SC INC

Form 990 for tax year 2022

Filed by TALLADEGA COLLEGE REAL ESTATE SC INC.

Totals

Total revenue
$270,224
Total expenses
$305,978
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$43
Other revenue
$270,181
Total assets, end of year
$19,030,451
Total liabilities, end of year
$19,540,000
Net assets or fund balances, end of year
-$509,549
Program services expenses (Part IX)
$57,388
Management and general expenses
$248,590
Fundraising expenses
$0
Program service expenses (Part III)
$57,388

Program services were 18.8% 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.

  • 3 · Investment income

    total $43 · unrelated business $0 · excluded $43

  • 6a · Gross rents

    real property $270,181

  • 6c · Rental income or loss

    real property $270,181

  • 6d · Net rental income or loss

    total $270,181 · related or exempt $270,181

Functional expenses

Part IX, the statement of functional expenses.

  • 22 · Depreciation, depletion and amortization

    total $57,388 · program services $57,388 · management and general $0 · fundraising $0

  • 24a · Other expenses: Annual Fees

    total $30,500 · program services $0 · management and general $30,500 · fundraising $0

  • 24b · Other expenses: Audit and Reimbursements

    total $218,090 · program services $0 · management and general $218,090 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $580,983 · end of year $647,166

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

    $16,995,264

  • 10c · Land, buildings and equipment, net

    beginning of year $16,995,264 · end of year $16,995,264

  • 15 · Other assets

    beginning of year $1,445,409 · end of year $1,388,021

  • 23 · Secured mortgages and notes payable

    beginning of year $19,540,000 · end of year $19,540,000

  • 28 · Net assets with donor restrictions

    beginning of year -$518,344 · end of year -$509,549

Mission and programs · 2022

Mission

The Organization was created for the purpose of facilitating Talladega College's construction.

  • Progam services consist primarily of amortization of debt

    Expenses $57,388

As filed on the 2022 return.

Listed in Part VII

  • Damien Baity

    Member

    Total calculated
    $0
    Hours/week
    10

  • Marlon King

    Member

    Total calculated
    $0
    Hours/week
    10

  • Sama Mondeh

    Member

    Total calculated
    $0
    Hours/week
    10

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.

Provenance

Return type
form_990
Tax year
2022
Filed
14 May 2024
IRS schema version
2022v5.0
Source object
202411369349315696

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