Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: Parking Fees

  total $2,373,218 · related or exempt $2,373,218

Functional expenses

Part IX, the statement of functional expenses.

• 13 · Office expenses

  total $63,843 · program services $25,680 · management and general $38,163

• 14 · Information technology

  total $1,439 · program services $1,439

• 16 · Occupancy

  total $82,629 · program services $82,629

• 17 · Travel

  total $1,592 · program services $1,592

• 20 · Interest

  total $38,319 · program services $38,319

• 22 · Depreciation, depletion and amortization

  total $211,958 · program services $211,958

• 23 · Insurance

  total $26,539 · program services $26,539

• 24a · Other expenses: Parking operating svcs

  total $705,497 · program services $705,497

• 24b · Other expenses: Repairs and maintenance

  total $39,428 · program services $39,428

• 24c · Other expenses: Equipment rental

  total $1,083 · program services $1,083

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $949,089 · end of year $237,250

• 2 · Savings and temporary cash investments

  beginning of year $438,757 · end of year $438,757

• 4 · Accounts receivable

  beginning of year $14,874 · end of year $60,000

• 9 · Prepaid expenses and deferred charges

  beginning of year $8,537 · end of year $11,254

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

  $10,592,822

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

  $3,052,388

• 10c · Land, buildings and equipment, net

  beginning of year $7,590,122 · end of year $7,540,434

• 15 · Other assets

  beginning of year $2,937,157 · end of year $4,517,838

• 17 · Accounts payable and accrued expenses

  beginning of year $57,445 · end of year $21,644

• 20 · Tax-exempt bond liabilities

  beginning of year $1,345,379 · end of year $969,355

• 25 · Other liabilities

  beginning of year $0 · end of year $77,931

• 27 · Net assets without donor restrictions

  beginning of year $10,535,712 · end of year $11,736,603

The filer's explanations (Part III)

Part I, Line 3

A related organization, The Hobby Center Foundation, uses the following methods in establishing executive compensation: Executive Committee review and approval, independent compensation consultant, Form 990s of other organizations, compensation surveys and studies.