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← HARDESTY RENAISSANCE ECONOMIC DEVELOPMENT CORPORATION

Form 990 for tax year 2023

Filed by HARDESTY RENAISSANCE ECONOMIC DEVELOPMENT CORPORATION.

Totals

Total revenue
$648
Total expenses
$287,825
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$0
Other revenue
$648
Total assets, end of year
$4,579,874
Total liabilities, end of year
$7,225,899
Net assets or fund balances, end of year
-$2,646,025
Program services expenses (Part IX)
$0
Management and general expenses
$287,825
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 0.0% 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 $0

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6d · Net rental income or loss

    total $0

  • 7d · Net gain or loss

    total $0

  • 8c · Net income from fundraising events

    total $0

  • 9c · Net income from gaming

    total $0

  • 10c · Net income from sales of inventory

    total $0

  • 11a · Other revenue: OTHER INCOME

    total $648 · related or exempt $648

  • 11e · Other revenue, total

    $648

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $0

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $0

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $0

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $0

  • 10 · Payroll taxes

    total $0

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $0

  • 11c · Fees: accounting

    total $10,920 · management and general $10,920

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $25,567 · management and general $25,567

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $0

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $11,154 · management and general $11,154

  • 17 · Travel

    total $0

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $0

  • 20 · Interest

    total $161,364 · management and general $161,364

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $4,750 · management and general $4,750

  • 23 · Insurance

    total $11,229 · management and general $11,229

  • 24a · Other expenses: REAL ESTATE TAXES

    total $62,841 · management and general $62,841

  • 24e · All other expenses

    total $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,999 · end of year $4,647

  • 2 · Savings and temporary cash investments

    end of year $0

  • 3 · Pledges and grants receivable

    end of year $0

  • 4 · Accounts receivable

    end of year $0

  • 5 · Loans and receivables from officers and key people

    end of year $0

  • 6 · Loans and receivables from disqualified persons

    end of year $0

  • 7 · Other notes and loans receivable

    end of year $0

  • 8 · Inventories for sale or use

    end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $7,855 · end of year $10,122

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

    $4,600,084

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

    $34,979

  • 10c · Land, buildings and equipment, net

    beginning of year $4,588,667 · end of year $4,565,105

  • 11 · Investments: publicly traded securities

    end of year $0

  • 12 · Investments: other securities

    end of year $0

  • 13 · Investments: program-related

    end of year $0

  • 14 · Intangible assets

    end of year $0

  • 15 · Other assets

    end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $600,682 · end of year $646,259

  • 23 · Secured mortgages and notes payable

    beginning of year $1,858,000 · end of year $1,858,000

  • 24 · Unsecured notes and loans payable

    beginning of year $1,441,430 · end of year $1,425,953

  • 25 · Other liabilities

    beginning of year $3,059,257 · end of year $3,295,687

  • 27 · Net assets without donor restrictions

    beginning of year -$2,358,848 · end of year -$2,646,025

Mission and programs · 2023

Mission

TO COMPLETE A LONG-TERM DEVELOPMENT OF THE FORMER FEDERAL HARDESTY COMPLEX AT HARDESTY AND INDEPENDENCE AVENUES IN KANSAS CITY, MISSOURI.

  • LONG-TERM DEVELOPMENT OF THE FORMER FEDERAL HARDESTY COMPLEX AT HARDESTY AND INDEPENDENCE AVENUES IN KANSAS CITY, MISSOURI, THAT WILL MEET COMMUNITY NEEDS AND CREATE JOBS.

As filed on the 2023 return.

Listed in Part VII

  • Sze Leong Yu

    President

    Total calculated
    $289,850
    From this org
    $0
    From related orgs
    $279,045
    Other
    $10,805
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    not reported + $279,045 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported + $10,805 related
    Filer's total
    not reported + $289,850 related

  • Hsueh Lam Yan

    Secretary

    Total calculated
    $180,057
    From this org
    $0
    From related orgs
    $178,281
    Other
    $1,776
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    not reported + $178,281 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported + $1,776 related
    Filer's total
    not reported + $180,057 related

  • My T Chang

    Vice President

    Total calculated
    $141,767
    From this org
    $0
    From related orgs
    $139,860
    Other
    $1,907
    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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

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.

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • ONE HARDESTY LLC

    OPERATE A STORAGE FACILITY · MO · income $1,333,239 · assets $5,984,241

    Directly controlled by AAFE

Provenance

Return type
form_990
Tax year
2023
Filed
11 September 2024
IRS schema version
2023v5.1
Source object
202442559349301124

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