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Nonprofiteer
← GENESEE VALLEY IMPROVEMENT CORPORATION

Form 990 for tax year 2022

Filed by GENESEE VALLEY IMPROVEMENT CORPORATION.

Totals

Total revenue
$330,724
Total expenses
$388,067
Contributions and grants received
$0
Grants paid
$93,791
Program service revenue
$311,046
Investment income
$19,498
Other revenue
$180
Total assets, end of year
$487,097
Total liabilities, end of year
$450,312
Net assets or fund balances, end of year
$36,785
Program services expenses (Part IX)
$352,067
Management and general expenses
$36,000
Fundraising expenses
$0
Program service expenses (Part III)
$352,067

Program services were 90.7% 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: RENTAL INCOME

    total $311,046 · related or exempt $311,046

  • 3 · Investment income

    total $351 · excluded $351

  • 7a · Gross sales of assets other than inventory

    other assets $93,792

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

    other assets $74,645

  • 7c · Gain or loss

    other assets $19,147

  • 7d · Net gain or loss

    total $19,147 · excluded $19,147

  • 11a · Other revenue: LAUNDRY INCOME

    total $180 · excluded $180

  • 11e · Other revenue, total

    $180

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $93,791 · program services $93,791

  • 11a · Fees: management

    total $36,000 · management and general $36,000

  • 11b · Fees: legal

    total $1,547 · program services $1,547

  • 11g · Fees: other

    total $36,166 · program services $36,166

  • 14 · Information technology

    total $868 · program services $868

  • 16 · Occupancy

    total $110,217 · program services $110,217

  • 20 · Interest

    total $1,723 · program services $1,723

  • 22 · Depreciation, depletion and amortization

    total $16,161 · program services $16,161

  • 23 · Insurance

    total $1,634 · program services $1,634

  • 24a · Other expenses: REPAIRS & MAINTENANCE

    total $79,136 · program services $79,136

  • 24b · Other expenses: VEHICLE EXPS

    total $4,909 · program services $4,909

  • 24c · Other expenses: GVIC RESIDENTIAL REPLAC

    total $2,800 · program services $2,800

  • 24d · Other expenses: MISCELLANEOUS

    total $1,705 · program services $1,705

  • 24e · All other expenses

    total $1,410 · program services $1,410

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $79,593 · end of year $102,478

  • 4 · Accounts receivable

    beginning of year $5,400 · end of year $16,164

  • 7 · Other notes and loans receivable

    beginning of year $18,769

  • 9 · Prepaid expenses and deferred charges

    beginning of year $27,728 · end of year $27,073

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

    $2,185,712

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

    $2,004,988

  • 10c · Land, buildings and equipment, net

    beginning of year $403,443 · end of year $180,724

  • 15 · Other assets

    beginning of year $158,336 · end of year $160,658

  • 17 · Accounts payable and accrued expenses

    beginning of year $17,591 · end of year $11,225

  • 19 · Deferred revenue

    end of year $3,500

  • 23 · Secured mortgages and notes payable

    beginning of year $576,033 · end of year $430,068

  • 25 · Other liabilities

    beginning of year $5,517 · end of year $5,519

  • 27 · Net assets without donor restrictions

    beginning of year $94,128 · end of year $36,785

Mission and programs · 2022

Mission

IMPROVE HOUSING FOR FAMILIES

  • G.V.I.C. PROVIDES LOW INCOME HOUSING FOR QUALIFIED INDIVIDUALS AND FAMILIES.

    Expenses $352,067 · Grants $93,791 · Revenue $311,046

As filed on the 2022 return.

Listed in Part VII

  • Kelly Dickerson

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Luke Tackentien

    VICE CHAIRPERSON

    Total calculated
    $0
    Hours/week
    1

  • Michael Miller

    SECRETARY/TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Lesley Gooch-Christman

    EXEC DIRECTOR/MANAGING AGENT

    Total calculated
    $112,740
    From this org
    $0
    From related orgs
    $94,027
    Other
    $18,713
    Hours/week
    1 + 40 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.

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.

Provenance

Return type
form_990
Tax year
2022
Filed
22 August 2023
IRS schema version
2022v5.0
Source object
202302569349301745

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