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Nonprofiteer
← WASMVER DEVELOPMENT CORP

Form 990 for tax year 2023

Filed by WASMVER DEVELOPMENT CORP.

Totals

Total revenue
$161,981
Total expenses
$147,428
Contributions and grants received
$121,545
Grants paid
$0
Program service revenue
$37,169
Investment income
$1,364
Other revenue
$1,903
Total assets, end of year
$511,152
Total liabilities, end of year
$639,483
Net assets or fund balances, end of year
-$128,331
Program services expenses (Part IX)
$129,050
Management and general expenses
$18,378
Fundraising expenses
$0
Program service expenses (Part III)
$129,050

Program services were 87.5% 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.

  • 1e · Government grants (contributions)

    $121,545

  • 2a · Program service revenue: RENTAL INCOME

    total $37,169 · related or exempt $37,169

  • 3 · Investment income

    total $1,364 · excluded $1,364

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $1,903 · related or exempt $1,903

  • 11e · Other revenue, total

    $1,903

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $9,204 · management and general $9,204

  • 13 · Office expenses

    total $3,513 · program services $3,513

  • 16 · Occupancy

    total $37,610 · program services $37,610

  • 20 · Interest

    total $32,667 · program services $32,667

  • 22 · Depreciation, depletion and amortization

    total $15,609 · program services $15,609

  • 23 · Insurance

    total $5,609 · program services $5,609

  • 24a · Other expenses: CONTRACT SERVICES

    total $32,040 · program services $32,040

  • 24b · Other expenses: MISCELLANEOUS ADMIN

    total $10,156 · program services $982 · management and general $9,174

  • 24c · Other expenses: REPAIRS & MAINTENANCE

    total $823 · program services $823

  • 24d · Other expenses: BAD DEBT EXPENSE

    total $197 · program services $197

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $14,145 · end of year $20,023

  • 4 · Accounts receivable

    end of year $32,380

  • 9 · Prepaid expenses and deferred charges

    beginning of year $35,531 · end of year $4,470

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

    $673,129

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

    $520,007

  • 10c · Land, buildings and equipment, net

    beginning of year $162,931 · end of year $153,122

  • 15 · Other assets

    beginning of year $29,808 · end of year $301,157

  • 17 · Accounts payable and accrued expenses

    beginning of year $42,452 · end of year $37,604

  • 19 · Deferred revenue

    beginning of year $431 · end of year $457

  • 23 · Secured mortgages and notes payable

    beginning of year $340,342 · end of year $599,424

  • 25 · Other liabilities

    beginning of year $2,074 · end of year $1,998

  • 27 · Net assets without donor restrictions

    beginning of year -$142,884 · end of year -$128,331

Mission and programs · 2023

Mission

TO PROVIDE ELDERLY AND HANDICAPPED PERSONS WITH HOUSING FACILITIES AND SERVICES SPECIFICALLY DESIGNED TO MEET THEIR PHYSICAL, SOCIAL, AND PSYCHOLOGICAL NEEDS, AND TO PROMOTE THEIR HEALTH, SECURITY, HAPPINESS, AND USEFULNESS IN LONGER LIVING.

  • PROVIDE HOUSING FOR ELDERLY AND LOW-INCOME INDIVIDUALS WITH MOBILITY DISABILITIES OPERATE A 13-UNIT APARTMENT COMMUNITY UNDER SEC. 202 OF THE NATIONAL HOUSING ACT OF 1959, AS AMENDED.

    Expenses $129,050 · Revenue $39,072

As filed on the 2023 return.

Listed in Part VII

  • Celia M Kendall

    CEO

    Total calculated
    $122,146
    From this org
    $0
    From related orgs
    $122,146
    Other
    $0
    Hours/week
    1 + 59 related

  • Dan Hunt

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1 + 17 related

  • Joel King

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1 + 11 related

  • Kelton Waller

    SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 14 related

  • Ronald Mitchell

    MEMBER

    Total calculated
    $0
    Hours/week
    1 + 11.5 related

  • Jay Finklea

    MEMBER

    Total calculated
    $0
    Hours/week
    0.5 + 5.5 related

  • Stan Ford

    MEMBER

    Total calculated
    $0
    Hours/week
    0.5 + 8 related

  • Robert Glover

    MEMBER

    Total calculated
    $0
    Hours/week
    0.5 + 6 related

  • Cassandra L Hicks

    MEMBER

    Total calculated
    $0
    Hours/week
    0.5 + 6 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.

Provenance

Return type
form_990
Tax year
2023
Filed
15 October 2024
IRS schema version
2023v5.1
Source object
202422919349300042

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