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Nonprofiteer
← TYR DEVELOPMENT CO

Form 990 for tax year 2023

Filed by TYR DEVELOPMENT CO.

Totals

Total revenue
$306,577
Total expenses
$43,195
Contributions and grants received
$200,100
Grants paid
$0
Program service revenue
$50,550
Investment income
$53,268
Other revenue
$2,659
Total assets, end of year
$2,641,179
Total liabilities, end of year
$4,050
Net assets or fund balances, end of year
$2,637,129
Program services expenses (Part IX)
$37,450
Management and general expenses
$5,745
Fundraising expenses
$0
Program service expenses (Part III)
$37,450

Program services were 86.7% 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.

  • 1f · All other contributions, gifts and grants

    $200,100

  • 2a · Program service revenue: LOW INCOME RENT PAYMEN

    total $50,550 · related or exempt $50,550

  • 3 · Investment income

    total $53,268 · related or exempt $3,000 · excluded $50,268

  • 11a · Other revenue: INVESTMENT IN GLENWOOD

    total $2,659 · related or exempt $2,659

  • 11e · Other revenue, total

    $2,659

Functional expenses

Part IX, the statement of functional expenses.

  • 11b · Fees: legal

    total $3,460 · management and general $3,460

  • 11g · Fees: other

    total $5,864 · program services $5,457 · management and general $407

  • 13 · Office expenses

    total $738 · management and general $738

  • 16 · Occupancy

    total $1,280 · program services $140 · management and general $1,140

  • 22 · Depreciation, depletion and amortization

    total $15,899 · program services $15,899

  • 23 · Insurance

    total $1,021 · program services $1,021

  • 24a · Other expenses: MAINTENANCE AND REPAIRS

    total $8,816 · program services $8,816

  • 24b · Other expenses: PROPERTY MANAGEMENT

    total $4,068 · program services $4,068

  • 24c · Other expenses: REAL ESTATE TAXES

    total $2,049 · program services $2,049

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $411,626 · end of year $188,059

  • 2 · Savings and temporary cash investments

    beginning of year $997,100 · end of year $1,187,324

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

    $733,393

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

    $40,192

  • 10c · Land, buildings and equipment, net

    beginning of year $460,450 · end of year $693,201

  • 12 · Investments: other securities

    beginning of year $455,821 · end of year $572,413

  • 15 · Other assets

    beginning of year $50,000 · end of year $182

  • 25 · Other liabilities

    beginning of year $1,250 · end of year $4,050

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $2,373,747 · end of year $2,637,129

Mission and programs · 2023

Mission

WE ARE DEDICATED TO PROVIDING AFFORDABLE, QUALITY, SAFE HOUSING TO UNDERPRIVILEGED, LOW TO MIDDLE INCOME HOUSEHOLDS THROUGHOUT THE UNITED STATES.

Activities or mission (Part I)

TO PROVIDE AFFORDABLE, QUALITY, SAFE HOUSING TO UNDERPRIVILEGED, LOW TO MIDDLE INCOME HOUSEHOLDS

  • PROVIDED AFFORDABLE, QUALITY, SAFE HOUSING TO UNDERPRIVILEGED, LOW TO MIDDLE INCOME HOUSEHOLDS THROUGHOUT THE UNITED STATES.A MULTI-UNIT RESIDENTIAL RENTAL PROPERTY CONTINUED TO BE RENTED THROUGHOUT 2023 TO LOW INCOME HOUSEHOLDS. THE NONPROFIT HAS AN INVESTMENT IN A LOW-INCOME MULTIFAMILY PROPERTY AS WELL. DURING 2023 A DONATION WAS OBTAINED ALLOWING THE NONPROFIT TO PURCHASE LAND. THE ORGANIZATION IS CONSIDERING WAYS TO USE THIS FOR THEIR MISSION.

    Expenses $37,450 · Revenue $56,209

As filed on the 2023 return.

Listed in Part VII

  • Avtandil Garakanidze

    PRESIDENT

    Total calculated
    $0
    Hours/week
    10

  • Kevetan Lashkhi

    VICE PRESIDENT, TREASURER

    Total calculated
    $0
    Hours/week
    10

  • Irakli Garakanidze

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

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.

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.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • GLENWOOD APARTMENT HOLDINGS LLC

    INVESTMENT · REAL ESTATE RENTAL TO LOW INCOME FAMILIES · WY · 50% owned · share of income $2,659 · share of assets $457,781 · general or managing partner

Provenance

Return type
form_990
Tax year
2023
Filed
24 June 2024
IRS schema version
2023v5.1
Source object
202401769349300420

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