Totals
- Total revenue
- $1,307,420
- Total expenses
- $1,700,150
- Contributions and grants received
- $417,608
- Grants paid
- $0
- Program service revenue
- $871,812
- Investment income
- $17,070
- Other revenue
- $930
- Total assets, end of year
- $16,706,810
- Total liabilities, end of year
- $3,479,596
- Net assets or fund balances, end of year
- $13,227,214
- Program services expenses (Part IX)
- $900,375
- Management and general expenses
- $659,941
- Fundraising expenses
- $139,834
- Program service expenses (Part III)
- $900,375
Program services were 53.0% 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.
-
1e · Government grants (contributions)
$353,750
-
1f · All other contributions, gifts and grants
$63,858
-
1g · Noncash contributions included above
$49,000
-
2a · Program service revenue: RENT REVENUE
total $552,921 · related or exempt $552,921
-
2b · Program service revenue: MANAGEMENT AGREEMENT
total $190,535 · related or exempt $190,535
-
2c · Program service revenue: LAND LEASE INCOME
total $52,601 · related or exempt $52,601
-
2d · Program service revenue: PROGRAM SERVICE FEES
total $35,833 · related or exempt $35,833
-
2e · Program service revenue: FEES FOR SERVICES
total $20,482 · related or exempt $20,482
-
2f · All other program service revenue
total $19,440 · related or exempt $19,440
-
3 · Investment income
total $319 · excluded $319
-
7a · Gross sales of assets other than inventory
other assets $350,000
-
7b · Less cost or other basis and sales expenses
other assets $333,249
-
7c · Gain or loss
other assets $16,751
-
7d · Net gain or loss
total $16,751 · related or exempt $16,751
-
11a · Other revenue: MISCELLANEOUS REVENUE
total $930 · related or exempt $930
-
11e · Other revenue, total
$930
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $398,819 · program services $186,292 · management and general $90,145 · fundraising $122,382
-
7 · Other salaries and wages
total $56,872 · program services $26,565 · management and general $12,855 · fundraising $17,452
-
11a · Fees: management
total $13,244 · program services $13,244
-
11b · Fees: legal
total $37,245 · program services $37,245
-
11c · Fees: accounting
total $24,750 · management and general $24,750
-
12 · Advertising and promotion
total $34,025 · management and general $34,025
-
13 · Office expenses
total $13,885 · management and general $13,885
-
16 · Occupancy
total $12,924 · management and general $12,924
-
20 · Interest
total $110,104 · program services $110,104
-
22 · Depreciation, depletion and amortization
total $158,276 · program services $158,276
-
23 · Insurance
total $20,019 · management and general $20,019
-
24a · Other expenses: BAD DEBT
total $447,710 · management and general $447,710
-
24b · Other expenses: REHABILITATION OF PROPE
total $301,914 · program services $301,914
-
24c · Other expenses: CONSULTING FEES
total $66,735 · program services $66,735
-
24d · Other expenses: BANK FEES
total $3,628 · management and general $3,628
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $117,620 · end of year $284,663
-
2 · Savings and temporary cash investments
beginning of year $111,859 · end of year $42,308
-
4 · Accounts receivable
beginning of year $460,297 · end of year $20,550
-
8 · Inventories for sale or use
beginning of year $10,099 · end of year $0
-
10a · Land, buildings and equipment: cost or other basis
$17,570,638
-
10b · Land, buildings and equipment: accumulated depreciation
$1,214,149
-
10c · Land, buildings and equipment, net
beginning of year $16,318,756 · end of year $16,356,489
-
15 · Other assets
beginning of year $3,176 · end of year $2,800
-
17 · Accounts payable and accrued expenses
beginning of year $416,542 · end of year $419,354
-
23 · Secured mortgages and notes payable
beginning of year $2,985,321 · end of year $3,060,242
-
27 · Net assets without donor restrictions
beginning of year $13,619,944 · end of year $13,227,214
Mission and programs · 2022
Mission
TO UTILIZE LAND TRUSTS AS A VEHICLE TO FACILITATE THE OWNERSHIP AND DEVELOPMENT OF AFFORDABLE HOUSING PROJECTS WITHIN THE STATE OF FLORIDA.
Activities or mission (Part I)
UTILIZE LAND TRUSTS AS A VEHICLE TO FACILITATE THE OWNERSHIP AND DEVELOPMENT OF AFFORDABLE HOUSING.
-
BRIGHT COMMUNITY TRUST FOCUS IS THE DEVELOPMENT AND REHABILITATION OF DISTRESSED AND FORECLOSED HOMES FOR RENT OR RESALE TO WORK FORCE AND LOWER INCOME FAMILIES. UTILIZING A COMMUNITY LAND TRUST THE PROPERTIES STAY ATTAINABLE FOR GENERATIONS. AS A CERTIFIED HUD COUNSELING AGENCY, EDUCATION AND ONGOING MENTORSHIP IS PROVIDED PREPARING RESIDENTS FOR HOMEOWNERSHIP.
Expenses $518,276 · Revenue $681,277
-
BRIGHT SERVES AS THE MANAGEMENT AGENT FOR A COMMUNITY LAND TRUST WITH CENTRAL FLORIDA REGIONAL HOUSING TRUST, INC. (CFRHT). UNDER THE TERMS OF THE AGREEMENT, BRIGHT IS GOVERNED BY THE CFRHT BOARD PERTAING TO THE OPERATION, DIRECTION, MANAGEMENT, AND SUPERVISION OF CFRHT AND THE HOUSING TRUST PROPERTY. BRIGHT WILL MANAGE THE CURRENT AND FUTURE PROPERTY OF CFRHT IN ACCORDANCE WITH THE MISSION OF BOTH ORGANIZATIONS AND THE OBLIGATIONS UNDER THE MANAGEMENT AGREEMENT WHICH IS TO PROVIDE HOUSING THAT IS SAFE, SECURE, AND AFFORDABLE IN PERPETUITY. CFRHT IS NOW DOING BUSINESS AS HOUSD. AS OF NOVEMBER OF 2022, THIS AGEEMENT IS NO LONGER IN EFFECT AND BRIGHT COMMUNITY TRUST NO LONGER HAS ANY ASSOCIATION WITH CFRHT.
Expenses $382,099 · Revenue $190,535
As filed on the 2022 return.
Listed in Part VII
-
Thomas ShellyTHOMAS SHELLY
CHAIRMAN
- Total calculated
- $0
- Hours/week
- 3
-
Jillian BandesJILLIAN BANDES
TREASURER
- Total calculated
- $0
- Hours/week
- 2
-
Dr Robert ArnoldDR ROBERT ARNOLD
SECRETARY
- Total calculated
- $0
- Hours/week
- 2
-
Clive Kofi HuntCLIVE KOFI HUNT
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Francis WellsFRANCIS WELLS
CEO/PRESIDENT
- Total calculated
- $147,101
- From this org
- $132,462
- From related orgs
- $0
- Other
- $14,639
- Hours/week
- 40
-
Renee WelchRENEE WELCH
CFO
- Total calculated
- $131,799
- From this org
- $115,088
- From related orgs
- $0
- Other
- $16,711
- Hours/week
- 40
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.
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.
-
BRIGHT CENTRAL FLORIDA LLC
MANAGEMENT OF THIRD-PARTY HOUSING TRUST · FL · income $35,650 · assets $9,729
Directly controlled by BRIGHT COMMUNITY TRUST INC
-
BRIGHT SOUTHWEST FLORIDA LLC
EXPAND SERVICES TO SOUTHWEST FLORIDA REGION · FL · income -$291,200 · assets $34,338
Directly controlled by BRIGHT COMMUNITY TRUST INC
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 15 September 2023
- IRS schema version
- 2022v5.0
- Source object
- 202312649349301676
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