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Nonprofiteer
← BEAR CREEK DEVELOPMENT CENTER INC

Form 990 for tax year 2023

Filed by BEAR CREEK DEVELOPMENT CENTER INC.

Totals

Total revenue
$990,176
Total expenses
$865,482
Contributions and grants received
$25,654
Grants paid
$0
Program service revenue
$955,639
Investment income
$8,883
Other revenue
$0
Total assets, end of year
$7,430,151
Total liabilities, end of year
$4,454,193
Net assets or fund balances, end of year
$2,975,958
Program services expenses (Part IX)
$808,652
Management and general expenses
$50,778
Fundraising expenses
$6,052
Program service expenses (Part III)
$808,652

Program services were 93.4% 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.

  • 1f · All other contributions, gifts and grants

    $25,654

  • 2a · Program service revenue: Rent Revenue

    total $933,784 · related or exempt $933,784

  • 2b · Program service revenue: Other Rental Income

    total $12,291 · related or exempt $12,291

  • 2c · Program service revenue: Laundry

    total $9,564 · related or exempt $9,564

  • 3 · Investment income

    total $8,883 · excluded $8,883

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $97,302 · program services $77,842 · management and general $14,595 · fundraising $4,865

  • 10 · Payroll taxes

    total $2,043 · program services $1,634 · management and general $306 · fundraising $103

  • 11c · Fees: accounting

    total $13,900 · management and general $13,900

  • 11g · Fees: other

    total $26 · management and general $26

  • 13 · Office expenses

    total $10,842 · management and general $9,758 · fundraising $1,084

  • 16 · Occupancy

    total $259,006 · program services $249,033 · management and general $9,973

  • 20 · Interest

    total $150,807 · program services $150,502 · management and general $305

  • 22 · Depreciation, depletion and amortization

    total $216,819 · program services $216,819

  • 23 · Insurance

    total $23,747 · program services $22,560 · management and general $1,187

  • 24a · Other expenses: Building Maintenance

    total $62,976 · program services $62,976

  • 24b · Other expenses: Exterior Maintenance

    total $21,079 · program services $21,079

  • 24c · Other expenses: Miscellaneous

    total $3,640 · program services $2,912 · management and general $728

  • 24d · Other expenses: Application and Backgro

    total $2,655 · program services $2,655

  • 24e · All other expenses

    total $640 · program services $640

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $154,971 · end of year $164,485

  • 2 · Savings and temporary cash investments

    beginning of year $290,676 · end of year $299,472

  • 3 · Pledges and grants receivable

    beginning of year $3,000

  • 4 · Accounts receivable

    beginning of year $3,415 · end of year $12,595

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,700 · end of year $3,936

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

    $7,562,076

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

    $612,413

  • 10c · Land, buildings and equipment, net

    beginning of year $6,734,172 · end of year $6,949,663

  • 17 · Accounts payable and accrued expenses

    beginning of year $28,914 · end of year $30,900

  • 19 · Deferred revenue

    beginning of year $12,610 · end of year $10,570

  • 23 · Secured mortgages and notes payable

    beginning of year $4,226,484 · end of year $4,337,774

  • 25 · Other liabilities

    beginning of year $70,662 · end of year $74,949

  • 27 · Net assets without donor restrictions

    beginning of year $2,658,767 · end of year $2,975,958

  • 28 · Net assets with donor restrictions

    beginning of year $192,497 · end of year $0

Mission and programs · 2023

Mission

Bear Creek Development Center was established by Bear Creek Christian Church to create innovative, holistic, and truly affordable housing solutions with families and individuals in the Rochester MN area.

Activities or mission (Part I)

Pursuing innovative, holistic, & truly affordable housing solutions in the Rochester MN Area.

  • To be a developer, manager, and leader of truly affordable housing; a partner for educational excellence; and a catalyst for cost-effective housing development in the Rochester MN area.During 2023, the program accomplished the following:This year the remodel of the former garage/storage shed was completed! Now the building has room for 6 veterans (below 50% AMI) who are getting back on their feet. MAC-V is the main service provider with BCDC staff giving secondary support to the new tenants.Furthermore, BCDC applied with Three Rivers to MHFA for a Low Income Housing Tax Credit project. The project was awarded in December, 2023 and it is hoped to start construction on the project in the Fall of 2024.

    Expenses $808,652 · Revenue $955,639

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Jeffrey Urban

    Executive Director

    Total calculated
    $0
    Hours/week
    15

  • Aaron Wager

    Chair

    Total calculated
    $0
    Hours/week
    1

  • Kenn Roehl

    Vice Chair

    Total calculated
    $0
    Hours/week
    1

  • Helen Laack

    Treasurer

    Total calculated
    $0
    Hours/week
    1

  • Christopher Beighley

    Secretary

    Total calculated
    $0
    Hours/week
    1

  • Jacob Radtke

    Member

    Total calculated
    $0
    Hours/week
    1

  • Shane Gauthier

    Member

    Total calculated
    $0
    Hours/week
    1

  • Georgia Basinski

    Member

    Total calculated
    $0
    Hours/week
    1

  • Christina Block

    Member

    Total calculated
    $0
    Hours/week
    1

  • Gene Peters

    Member

    Total calculated
    $0
    Hours/week
    1

  • Chad Fisher

    Member

    Total calculated
    $0
    Hours/week
    1

  • Joseph Miner

    Member

    Total calculated
    $0
    Hours/week
    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

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.

  • Bear Creek Church

    501(c)(3) · To change the world by bringing Jesus to every day problems · MN

Provenance

Return type
form_990
Tax year
2023
Filed
21 March 2024
IRS schema version
2023v5.0
Source object
202430889349301108

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