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Nonprofiteer
← GENESEE VALLEY IMPROVEMENT CORPORATION

Form 990 for tax year 2024

Filed by GENESEE VALLEY IMPROVEMENT CORPORATION.

Totals

Total revenue
$267,941
Total expenses
$322,076
Contributions and grants received
$3,036
Grants paid
$50,000
Program service revenue
$262,699
Investment income
$29
Other revenue
$2,177
Total assets, end of year
$525,185
Total liabilities, end of year
$484,138
Net assets or fund balances, end of year
$41,047
Program services expenses (Part IX)
$286,076
Management and general expenses
$36,000
Fundraising expenses
$0
Program service expenses (Part III)
$286,076

Program services were 88.8% 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.

  • 1d · Related organizations

    $3,036

  • 2a · Program service revenue: RENTAL INCOME

    total $262,699 · related or exempt $262,699

  • 3 · Investment income

    total $29 · excluded $29

  • 11a · Other revenue: LAUNDRY INCOME

    total $1,686 · excluded $1,686

  • 11b · Other revenue: MISCELLANEOUS

    total $491 · excluded $491

  • 11e · Other revenue, total

    $2,177

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $50,000 · program services $50,000

  • 11a · Fees: management

    total $36,000 · management and general $36,000

  • 11b · Fees: legal

    total $838 · program services $838

  • 11g · Fees: other

    total $32,347 · program services $32,347

  • 14 · Information technology

    total $1,280 · program services $1,280

  • 16 · Occupancy

    total $103,501 · program services $103,501

  • 20 · Interest

    total $1,454 · program services $1,454

  • 22 · Depreciation, depletion and amortization

    total $17,418 · program services $17,418

  • 23 · Insurance

    total $1,044 · program services $1,044

  • 24a · Other expenses: REPAIRS & MAINTENANCE

    total $75,067 · program services $75,067

  • 24b · Other expenses: VEHICLE EXPS

    total $1,048 · program services $1,048

  • 24c · Other expenses: DUES & SUBSCRIPTIONS

    total $852 · program services $852

  • 24d · Other expenses: FOOD

    total $650 · program services $650

  • 24e · All other expenses

    total $577 · program services $577

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $181,627 · end of year $114,501

  • 4 · Accounts receivable

    end of year $4,312

  • 9 · Prepaid expenses and deferred charges

    beginning of year $25,358 · end of year $25,362

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

    $2,272,879

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

    $1,992,563

  • 10c · Land, buildings and equipment, net

    beginning of year $230,975 · end of year $280,316

  • 15 · Other assets

    beginning of year $105,786 · end of year $100,694

  • 17 · Accounts payable and accrued expenses

    beginning of year $11,036 · end of year $17,374

  • 19 · Deferred revenue

    beginning of year $1,940 · end of year $7,584

  • 23 · Secured mortgages and notes payable

    beginning of year $430,068 · end of year $430,068

  • 24 · Unsecured notes and loans payable

    end of year $23,965

  • 25 · Other liabilities

    beginning of year $5,520 · end of year $5,147

  • 27 · Net assets without donor restrictions

    beginning of year $95,182 · end of year $41,047

Mission and programs · 2024

Mission

GVIC'S PURPOSE IS TO OWN PROPERTY, COLLECT INCOME AND PROVIDE INCOME/ASSISTANCE TO ACCORD, IN ADDITION, PROVIDE LOW-INCOME HOUSING FOR QUALIFIED INDIVIDUALS AND FAMILIES AS WELL AS RENT PROGRAM OFFICE SPACE AT COST TO ACCORD SERVICE PROGRAMS.

  • GVIC'S PURPOSE IS TO OWN PROPERTY, COLLECT INCOME AND PROVIDE INCOME/ASSISTANCE TO ACCORD, IN ADDITION, PROVIDE LOW-INCOME HOUSING FOR QUALIFIED INDIVIDUALS AND FAMILIES AS WELL AS RENT PROGRAM OFFICE SPACE AT COST TO ACCORD SERVICE PROGRAMS.

    Expenses $286,076 · Grants $50,000 · Revenue $262,699

As filed on the 2024 return.

Listed in Part VII

  • Kelly Dickerson

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Joseph Damiano

    VICE CHAIRPERSON

    Total calculated
    $0
    Hours/week
    1

  • Michael Miller

    SECRETARY/TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Nick Davis

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Lesley Christman

    EXECUTIVE DIRECTOR

    Total calculated
    $142,338
    From this org
    $0
    From related orgs
    $101,767
    Other
    $40,571
    Hours/week
    1 + 40 related

  • Lorraine Harmon

    C.F.O.

    Total calculated
    $98,366
    From this org
    $0
    From related orgs
    $93,376
    Other
    $4,990
    Hours/week
    1 + 40 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

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
2024
Filed
4 June 2025
IRS schema version
2024v5.1
Source object
202501619349300625

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