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Nonprofiteer
← 32ND ST LEGACY FUND

Form 990 for tax year 2024

Filed by 32ND ST LEGACY FUND.

Totals

Total revenue
$261,346
Total expenses
$176,754
Contributions and grants received
$0
Grants paid
$8,716
Program service revenue
$138,978
Investment income
$3,133
Other revenue
$119,235
Total assets, end of year
$3,063,528
Total liabilities, end of year
$2,342,230
Net assets or fund balances, end of year
$721,298
Program services expenses (Part IX)
$154,338
Management and general expenses
$22,416
Fundraising expenses
$0
Program service expenses (Part III)
$154,338

Program services were 87.3% 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.

  • 2a · Program service revenue: RENT FROM RELATED CHUR

    total $138,978 · related or exempt $138,978

  • 3 · Investment income

    total $3,133 · excluded $3,133

  • 6a · Gross rents

    real property $317,934

  • 6b · Less rental expenses

    real property $198,699

  • 6c · Rental income or loss

    real property $119,235

  • 6d · Net rental income or loss

    total $119,235 · unrelated business $119,235

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $8,716 · program services $8,716

  • 11c · Fees: accounting

    total $600 · management and general $600

  • 13 · Office expenses

    total $63 · management and general $63

  • 16 · Occupancy

    total $21,478 · program services $21,478

  • 20 · Interest

    total $64,866 · program services $64,866

  • 22 · Depreciation, depletion and amortization

    total $48,260 · program services $48,260

  • 23 · Insurance

    total $12,222 · program services $11,018 · management and general $1,204

  • 24a · Other expenses: FEDERAL UBIT

    total $20,549 · management and general $20,549

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $62,086 · end of year $113,989

  • 2 · Savings and temporary cash investments

    beginning of year $112,557 · end of year $105,213

  • 4 · Accounts receivable

    end of year $9,113

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

    $3,638,340

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

    $824,144

  • 10c · Land, buildings and equipment, net

    beginning of year $2,880,535 · end of year $2,814,196

  • 15 · Other assets

    beginning of year $23,601 · end of year $21,017

  • 19 · Deferred revenue

    beginning of year $9,089 · end of year $16,993

  • 23 · Secured mortgages and notes payable

    beginning of year $2,375,773 · end of year $2,243,559

  • 25 · Other liabilities

    beginning of year $57,211 · end of year $81,678

  • 27 · Net assets without donor restrictions

    beginning of year $636,706 · end of year $721,298

Mission and programs · 2024

Mission

TO SUPPORT THE ACTIVITIES OF GENESIS, AN EVANGELICAL COVENANT CHURCH, INC. OF PHOENIX, AZ.

Activities or mission (Part I)

TO SUPPORT THE ACTIVITIES OF GENESIS, AN EVANGELICAL COVENANT CHURCH IN PHOENIX, AZ

  • OWN AND MANAGE PROPERTY FOR THE BENEFIT OF GENESIS, AN EVANGELICAL COVENANT CHURCH, INC.

    Expenses $154,338 · Grants $8,716 · Revenue $138,978

As filed on the 2024 return.

Listed in Part VII

  • Ryan Lunceford

    DIRECTOR AS OF JUNE 2024

    Total calculated
    $0
    Hours/week
    1

  • Edward Hansen

    DIRECTOR AS OF FEB 2024

    Total calculated
    $0
    Hours/week
    1

  • James Rathkey

    DIRECTOR AS OF JAN 2024

    Total calculated
    $0
    Hours/week
    1

  • Brad Kettlelkamp

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jake Jacobsen

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Craig Barnes

    PRESIDENT UNTIL FEB 2024

    Total calculated
    $0
    Hours/week
    5

  • Scott Andersen

    TREASURER / PRESIDENT AS OF FEB 2024

    Total calculated
    $0
    Hours/week
    5

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.

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.

  • THE ROCK AT 32ND ST LLC

    PROPERTY HOLDING ON BEHALF OF GENESIS, AN EVANGELICAL COVENANT CHURCH, INC · AZ · income $261,346 · assets $3,063,528

    Directly controlled by 32ND ST LEGACY FUND

Provenance

Return type
form_990
Tax year
2024
Filed
15 May 2025
IRS schema version
2024v5.1
Source object
202511409349300101

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