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← COMMUNITY FOUNDATION REAL ESTATE MANAGEMENT FUND INC

Form 990 for tax year 2023

Filed by COMMUNITY FOUNDATION REAL ESTATE MANAGEMENT FUND INC.

Totals

Total revenue
$9,804
Total expenses
$2,055,391
Contributions and grants received
$0
Grants paid
$1,978,955
Program service revenue
$0
Investment income
$12,914
Other revenue
-$3,110
Total assets, end of year
$1,265,004
Total liabilities, end of year
$73,309
Net assets or fund balances, end of year
$1,191,695
Program services expenses (Part IX)
$2,041,833
Management and general expenses
$13,558
Fundraising expenses
$0
Program service expenses (Part III)
$2,041,833

Program services were 99.3% 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 $12,914 · excluded $12,914

  • 6a · Gross rents

    real property $16,986

  • 6b · Less rental expenses

    real property $20,096

  • 6c · Rental income or loss

    real property -$3,110

  • 6d · Net rental income or loss

    total -$3,110 · related or exempt -$3,110

  • 7a · Gross sales of assets other than inventory

    other assets $2,000,000

  • 7b · Less cost or other basis and sales expenses

    other assets $2,000,000

  • 7c · Gain or loss

    other assets $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,978,955 · program services $1,978,955

  • 11a · Fees: management

    total $4,929 · program services $4,929

  • 11b · Fees: legal

    total $10,513 · management and general $10,513

  • 11c · Fees: accounting

    total $3,045 · management and general $3,045

  • 22 · Depreciation, depletion and amortization

    total $48,698 · program services $48,698

  • 23 · Insurance

    total $4,251 · program services $4,251

  • 24a · Other expenses: ENVIRONMENTAL SURVEY FO

    total $5,000 · program services $5,000

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $230,104 · end of year $252,759

  • 4 · Accounts receivable

    end of year $500

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

    $1,625,957

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

    $614,212

  • 10c · Land, buildings and equipment, net

    beginning of year $3,060,443 · end of year $1,011,745

  • 12 · Investments: other securities

    beginning of year $12,499

  • 17 · Accounts payable and accrued expenses

    beginning of year $65,764 · end of year $73,309

  • 28 · Net assets with donor restrictions

    beginning of year $3,237,282 · end of year $1,191,695

Mission and programs · 2023

Mission

THE FUND SERVES AS A SUPPORTING ORGANIZATION OF COMMUNITY FOUNDATION OF GREATER GREENSBORO TO ADMINISTER CHARITABLE FUNDS RELATING TO REAL PROPERTY.

Activities or mission (Part I)

SUPPORTS THE COMMUNITY FOUNDATION OF GREATER GREENSBORO IN STRENGTHENING LOCAL COMMUNITIES

  • THE COMMUNITY FOUNDATION REAL ESTATE MANAGEMENT FUND ADMINISTERS CHARITABLE GIFTS AND FUNDS THAT INVOLVE HOLDING OR MANAGING REAL ESTATE, ON BEHALF OF THE COMMUNITY FOUNDATION OF GREATER GREENSBORO.

    Expenses $2,041,833 · Grants $1,978,955

As filed on the 2023 return.

Listed in Part VII

  • Chester H Brown Jr

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • Lowell Easter

    PRESIDENT

    Total calculated
    $0
    Hours/week
    0.5

  • Marc Isaacson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • Albert S Lineberry Jr

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • Ann Lineweaver

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • Sam Simpson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • Uma Avva

    EX-OFFICIO DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Dagney Procter

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • H Walker Sanders

    VP & SECRETARY

    Total calculated
    $302,623
    From this org
    $0
    From related orgs
    $273,268
    Other
    $29,355
    Hours/week
    2 + 40.25 related

    Schedule J breakdown matched by us

    Base
    $0 + $268,324 related
    Bonus
    $0 + $102 related
    Other
    $0 + $4,842 related
    Deferred
    $0 + $18,838 related
    Nontaxable benefits
    $0 + $10,517 related
    Filer's total
    $0 + $302,623 related

  • Marci Peace

    TREASURER

    Total calculated
    $171,245
    From this org
    $0
    From related orgs
    $153,113
    Other
    $18,132
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $146,005 related
    Bonus
    $0 + $7,108 related
    Other
    $0
    Deferred
    $0 + $10,893 related
    Nontaxable benefits
    $0 + $7,239 related
    Filer's total
    $0 + $171,245 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

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

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.

  • 407 E WASHINGTON STREET LLC

    REAL ESTATE · NC

    Directly controlled by COMMUNITY FOUNDATION REAL ESTATE MANAGEMENT FUND INC

  • CFREMF REAL ESTATE HOLDINGS LLC

    REAL ESTATE · NC

    Directly controlled by COMMUNITY FOUNDATION REAL ESTATE MANAGEMENT FUND INC

Provenance

Return type
form_990
Tax year
2023
Filed
13 November 2024
IRS schema version
2023v5.1
Source object
202403209349309305

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