Totals
- Total revenue
- $206,964
- Total expenses
- $5,526,565
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $0
- Investment income
- $206,964
- Other revenue
- $0
- Total assets, end of year
- $0
- Total liabilities, end of year
- $0
- Net assets or fund balances, end of year
- $0
- Program services expenses (Part IX)
- $5,526,565
- Management and general expenses
- $0
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $5,526,565
Program services were 100.0% 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 $206,964 · excluded $206,964
Functional expenses
Part IX, the statement of functional expenses.
-
11c · Fees: accounting
total $9,575 · program services $9,575
-
20 · Interest
total $168,471 · program services $168,471
-
21 · Payments to affiliates
total $5,348,519 · program services $5,348,519
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
end of year $0
-
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
beginning of year $11,892,600 · end of year $0
-
8 · Inventories for sale or use
end of year $0
-
9 · Prepaid expenses and deferred charges
end of year $0
-
10c · Land, buildings and equipment, net
end of year $0
-
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
-
24 · Unsecured notes and loans payable
beginning of year $5,850,000 · end of year $0
-
25 · Other liabilities
beginning of year $722,999 · end of year $0
-
27 · Net assets without donor restrictions
beginning of year $5,319,601 · end of year $0
Mission and programs · 2023
Mission
THE ORGANIZATION IS ORGANIZED AS A SUPPORTING ORGANIZATION AND WILL BE OPERATED FOR THE BENEFIT OF CORTEX.
Activities or mission (Part I)
THE ORGANIZATION IS ORGANIZED AS A SUPPORTING ORGANIZATION AND OPERATED FOR THE BENEFIT OF CORTEX.
-
THE ORGANIZATION IS THE LEVERAGE LENDER IN NEW MARKET TAX CREDITS FINANCING FOR THE ACQUISTION AND CONSTRUCTION OF THE BUILDING LOCATED AT 4260 FOREST PARK.
Expenses $5,526,565
As filed on the 2023 return.
Listed in Part VII
-
Robert CannonROBERT CANNON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
June M FowlerJUNE M FOWLER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Sam FiorelloSAM FIORELLO
PRESIDENT/SECRETARY
- Total calculated
- $504,655
- From this org
- $0
- From related orgs
- $456,500
- Other
- $48,155
- Hours/week
- 2
Schedule J breakdown matched by us
- Base
- $0 + $415,000 related
- Bonus
- $0 + $41,500 related
- Other
- $0
- Deferred
- $0 + $33,000 related
- Nontaxable benefits
- $0 + $15,155 related
- Filer's total
- $0 + $504,655 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. 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
- 3 · Written employment contract
- 3 · Approval by the board or compensation committee
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.
-
501(C)(3) · ACQUIRE, DEVELOP, PROMOTE, FINANCE & MARKET REAL ESTATE · MO
Assets distributed on this return
Schedule N, as filed: what the organization did with its assets when it liquidated or dissolved, or disposed of more than a quarter of them, and who received them. A recipient with an EIN is usually a successor organization; filers also list expenses such as legal fees here.
-
$5,348,519
Liquidation · NOTE PAYABLE · Dec 31, 2023 · 501(C)(3)
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 22 July 2024
- IRS schema version
- 2023v5.1
- Source object
- 202442049349301024
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