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Nonprofiteer
← NECP ABC

Form 990 for tax year 2023

Filed by NECP ABC.

Totals

Total revenue
$675,274
Total expenses
$685,244
Contributions and grants received
$3,000
Grants paid
$0
Program service revenue
$626,863
Investment income
$45,411
Other revenue
$0
Total assets, end of year
$8,173,960
Total liabilities, end of year
$9,172,347
Net assets or fund balances, end of year
-$998,387
Program services expenses (Part IX)
$601,107
Management and general expenses
$84,137
Fundraising expenses
$0
Program service expenses (Part III)
$601,107

Program services were 87.7% 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

    $3,000

  • 2a · Program service revenue: Rent

    total $626,863 · related or exempt $626,863

  • 3 · Investment income

    total $45,411 · excluded $45,411

Functional expenses

Part IX, the statement of functional expenses.

  • 11b · Fees: legal

    total $4,925 · management and general $4,925

  • 11c · Fees: accounting

    total $8,100 · management and general $8,100

  • 11g · Fees: other

    total $64,963 · program services $11,150 · management and general $53,813

  • 13 · Office expenses

    total $550 · program services $550

  • 16 · Occupancy

    total $422,636 · program services $422,636

  • 22 · Depreciation, depletion and amortization

    total $168,557 · program services $151,258 · management and general $17,299

  • 23 · Insurance

    total $15,513 · program services $15,513

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $25,968 · end of year $51,284

  • 3 · Pledges and grants receivable

    beginning of year $1,049,879 · end of year $1,152,144

  • 9 · Prepaid expenses and deferred charges

    beginning of year $4,847 · end of year $5,333

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

    $7,702,603

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

    $737,404

  • 10c · Land, buildings and equipment, net

    beginning of year $7,134,994 · end of year $6,965,199

  • 17 · Accounts payable and accrued expenses

    beginning of year $296,428 · end of year $376,989

  • 19 · Deferred revenue

    beginning of year $250

  • 20 · Tax-exempt bond liabilities

    beginning of year $7,820,000 · end of year $7,820,000

  • 23 · Secured mortgages and notes payable

    beginning of year $1,086,189 · end of year $975,358

  • 27 · Net assets without donor restrictions

    beginning of year -$1,982,336 · end of year -$1,830,159

  • 28 · Net assets with donor restrictions

    beginning of year $995,157 · end of year $831,772

Mission and programs · 2023

Mission

The NECP ABC mission is to own a facility that is suitable for NECP to fulfill its vision and mission, to steward that facility and to lease it to NECP at terms which satisfy the monthly and yearly debt obligations incurred to purchase the facility.

  • NECP ABC was able to purchase a building located at 300 Industrial Blvd NE in MPLS in order to faciliatate the school activities carried out by the related school, NECP. In the current year, the Organization worked to lease the building out to four nonprofits.

    Expenses $601,107 · Revenue $626,863

As filed on the 2023 return.

Listed in Part VII

  • Kumi Smith

    Chair

    Total calculated
    $0
    Hours/week
    1

  • Scott Flemming

    Secretary

    Total calculated
    $0
    Hours/week
    1

  • Steve Cunning

    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.

Provenance

Return type
form_990
Tax year
2023
Filed
16 April 2025
IRS schema version
2023v6.0
Source object
202541129349301704

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