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Nonprofiteer
← HCPI DEVELOPMENT FUND INC

Form 990 for tax year 2023

Filed by HCPI DEVELOPMENT FUND INC.

What the amendment changed

Compared with the return it replaced , filed 8 May 2024. matched by us Only the return's totals, a 990-PF's accounting method and the names listed in Part VII (Part VIII on a 990-PF) are compared. We relate returns by organization, tax year and form, and order them by each return's own timestamp; the filer's own "amended return" checkbox is a separate fact.

Total revenue
$176,805 changed to $1,369,888
Total expenses
$129,724 changed to $402,573
Contributions and grants received
$54,484 changed to $1,093,158
Program service revenue
$115,271 changed to $243,769
Investment income
$5,947 changed to $20,464
Other revenue
$1,103 changed to $12,497
Total assets, end of year
$4,573,582 changed to $8,803,873
Total liabilities, end of year
$669,228 changed to $3,929,704
Net assets or fund balances, end of year
$3,904,354 changed to $4,874,169
Program services expenses
$106,312 changed to $322,392
Management and general expenses
$23,412 changed to $80,181
Program service expenses (Part III)
$106,312 changed to $322,392

Listed only on the earlier return

  • Amanda Kimbers
  • Joe McNeely

Listed only on the later return

  • Joseph McNeely

Totals

Total revenue
$1,369,888
Total expenses
$402,573
Contributions and grants received
$1,093,158
Grants paid
$0
Program service revenue
$243,769
Investment income
$20,464
Other revenue
$12,497
Total assets, end of year
$8,803,873
Total liabilities, end of year
$3,929,704
Net assets or fund balances, end of year
$4,874,169
Program services expenses (Part IX)
$322,392
Management and general expenses
$80,181
Fundraising expenses
$0
Program service expenses (Part III)
$322,392

Program services were 80.1% 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)

    $1,085,159

  • 1f · All other contributions, gifts and grants

    $7,999

  • 2a · Program service revenue: RENTAL INCOME

    total $243,769 · related or exempt $243,769

  • 3 · Investment income

    total $20,464 · excluded $20,464

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6d · Net rental income or loss

    total $0

  • 7d · Net gain or loss

    total $0

  • 8c · Net income from fundraising events

    total $0

  • 9c · Net income from gaming

    total $0

  • 10c · Net income from sales of inventory

    total $0

  • 11a · Other revenue: OTHE INCOME

    total $12,497 · related or exempt $12,497

  • 11e · Other revenue, total

    $12,497

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $0

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $1,236 · program services $1,112 · management and general $124

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $0

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $0

  • 10 · Payroll taxes

    total $0

  • 11a · Fees: management

    total $115,214 · program services $94,780 · management and general $20,434

  • 11b · Fees: legal

    total $0

  • 11c · Fees: accounting

    total $0

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $0

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $35,109 · program services $28,127 · management and general $6,982

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $137,411 · program services $137,411

  • 17 · Travel

    total $0

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $0

  • 20 · Interest

    total $51,701 · management and general $51,701

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $58,541 · program services $58,541

  • 23 · Insurance

    total $0

  • 24a · Other expenses: OTHER OPERATING EXPENSES

    total $3,361 · program services $2,421 · management and general $940

  • 24e · All other expenses

    total $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,041,013 · end of year $951,826

  • 2 · Savings and temporary cash investments

    beginning of year $870,433 · end of year $800,139

  • 3 · Pledges and grants receivable

    beginning of year $54,484 · end of year $1,094,388

  • 4 · Accounts receivable

    beginning of year $13,074 · end of year $11,373

  • 5 · Loans and receivables from officers and key people

    end of year $0

  • 6 · Loans and receivables from disqualified persons

    end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $637,899 · end of year $657,923

  • 8 · Inventories for sale or use

    end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $12,517 · end of year $67,751

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

    $5,447,383

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

    $323,577

  • 10c · Land, buildings and equipment, net

    beginning of year $1,884,162 · end of year $5,123,806

  • 11 · Investments: publicly traded securities

    end of year $0

  • 12 · Investments: other securities

    beginning of year $60,000 · end of year $0

  • 13 · Investments: program-related

    end of year $0

  • 14 · Intangible assets

    end of year $0

  • 15 · Other assets

    end of year $96,667

  • 17 · Accounts payable and accrued expenses

    beginning of year $57,671 · end of year $125,520

  • 21 · Escrow or custodial account liability

    beginning of year $611,557 · end of year $518,151

  • 23 · Secured mortgages and notes payable

    end of year $3,286,033

  • 27 · Net assets without donor restrictions

    beginning of year $3,734,747 · end of year $4,874,169

  • 28 · Net assets with donor restrictions

    beginning of year $169,607

Mission and programs · 2023

Mission

THE PURPOSE OF THE CENTRAL BALTIMORE FUTURE FUND IS TO STIMULATE INCLUSIVE ECONOMIC GROWTH AND ATTRACT INVESTMENT IN THE TEN CENTRAL BALTIMORE NEIGHBORHOODS BY: 1 PARTNERING WITH REINVESTMENT FUND TO MAKE LOANS TO TRANSFORMATIONAL HIGH IMPACT COMMERCIAL, RESIDENTIAL AND NEIGHBORHOOD DEVELOPMENT PROJECTS 2 ACQUIRING AND OFFERING TO DEVELOPERS VACANT AND BLIGHTED PROPERTIES FOR REDEVELOPMENT AND 3 PROVIDING ADVISORY SERVICES TO MEMBERS OF THE PUBLIC THAT FACILITATE A DECREASE OF VACANT AND ABANDONED PROPERTIES IN WAYS THAT SUPPORT COMMUNITY PLANS AND OBJECTIVES.

Activities or mission (Part I)

TO INCREASE ECONOMIC ACTIVITY, DECREASE THE INCIDENCE OF VACANT PROPERTIES, AND PROMOTE COMMUNITY DEVELOPMENT INVESTMENTS BENEFITING LOW TO MODERATE INCOME COMMUNITIES IN TEN CENTRAL BALTIMORE NEIGHBORHOODS THAT HAVE LONG SUFFERED DETERIORATION AND BLIGHT.

  • THE PURPOSE OF THE CENTRAL BALTIMORE FUTURE FUND IS TO STIMULATE INCLUSIVE ECONOMIC GROWTH AND ATTRACT INVESTMENT IN THE TEN CENTRAL BALTIMORE NEIGHBORHOODS BY: 1 PARTNERING WITH REINVESTMENT FUND TO MAKE LOANS TO TRANSFORMATIONAL HIGH IMPACT COMMERCIAL, RESIDENTIAL AND NEIGHBORHOOD DEVELOPMENT PROJECTS 2 ACQUIRING AND OFFERING TO DEVELOPERS VACANT AND BLIGHTED PROPERTIES FOR REDEVELOPMENT AND 3 PROVIDING ADVISORY SERVICES TO MEMBERS OF THE PUBLIC THAT FACILITATE A DECREASE OF VACANT AND ABANDONED PROPERTIES IN WAYS THAT SUPPORT COMMUNITY PLANS AND OBJECTIVES.

    Expenses $322,392 · Revenue $256,266

As filed on the 2023 return.

Listed in Part VII

  • Ellen Janes

    Secretary/ED of Related Org

    Total calculated
    $173,056
    From this org
    $0
    From related orgs
    $173,056
    Other
    $0
    Hours/week
    5 + 40 related

    Schedule J breakdown matched by us

    Base
    not reported + $173,056 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    not reported + $173,056 related

  • Michael Pokorny

    Chairman

    Total calculated
    $0
    Hours/week
    1

  • Leon Pinkett III

    Treasurer

    Total calculated
    $0
    Hours/week
    1

  • Amy Bonitz

    Director

    Total calculated
    $0
    Hours/week
    2

  • Tamir Ezzat

    Director

    Total calculated
    $0
    Hours/week
    2

  • Peter Jackson

    Director

    Total calculated
    $0
    Hours/week
    1

  • Joseph McNeely

    Chair emeritus

    Total calculated
    $0
    Hours/week
    1

  • Ernst Valery

    Director

    Total calculated
    $0
    Hours/week
    0.25

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

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.

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.

  • BALTIMORE COMMUNITY LLC

    REMOVAL OF BLIGHT & TRANSFORMATIVE DEVELOPMENT · MD · income $227,091 · assets $2,323,021

    Directly controlled by HCPI DEVELOPMENT FUND INC

  • HCPI CONSULTING LLC

    CONSULTING SERVICES FOR COMMUNITY · MD

    Directly controlled by HCPI DEVELOPMENT FUND INC

  • BALTIMORE COMMUNITY 2 LLC

    REMOVAL OF BLIGHT & TRANSFORMATIVE DEVELOPMENT · MD · assets -$5,691

    Directly controlled by HCPI DEVELOPMENT FUND INC

  • BALTIMORE COMMUNITY 3 LLC

    REMOVAL OF BLIGHT & TRANSFORMATIVE DEVELOPMENT · MD · assets -$15,046

    Directly controlled by HCPI DEVELOPMENT FUND INC

  • BALTIMORE COMMUNITY 4 LLC

    REMOVAL OF BLIGHT & TRANSFORMATIVE DEVELOPMENT · MD · income -$352 · assets -$69,463

    Directly controlled by HCPI DEVELOPMENT FUND INC

  • BALTIMORE COMMUNITY 5 LLC

    REMOVAL OF BLIGHT & TRANSFORMATIVE DEVELOPMENT · MD · income $9,025 · assets $332,073

    Directly controlled by HCPI DEVELOPMENT FUND INC

  • BALTIMORE COMMUNITY 7 LLC

    REMOVAL OF BLIGHT & TRANSFORMATIVE DEVELOPMENT · MD · assets $166,415

    Directly controlled by HCPI DEVELOPMENT FUND INC

  • BALTIMORE COMMUNITY 9 LLC

    REMOVAL OF BLIGHT & TRANSFORMATIVE DEVELOPMENT · MD

    Directly controlled by HCPI DEVELOPMENT FUND INC

  • BALTIMORE COMMUNITY 10 LLC

    REMOVAL OF BLIGHT & TRANSFORMATIVE DEVELOPMENT · MD

    Directly controlled by HCPI DEVELOPMENT FUND INC

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • NORTH AVENUE MARKET DEVELOPMENT LLC

    RELATED · REDEVELOPMENT · MD · 50% owned · general or managing partner

    Directly controlled by HCPI

Provenance

Return type
form_990
Tax year
2023
Filed
7 May 2025
IRS schema version
2023v6.0
Source object
202521279349303267

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