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Nonprofiteer
← BRANDON DEVELOPMENT FOUNDATION INC

Form 990 for tax year 2022

Filed by BRANDON DEVELOPMENT FOUNDATION INC.

Totals

Total revenue
$1,003,869
Total expenses
$82,179
Contributions and grants received
$11,500
Grants paid
$0
Program service revenue
$0
Investment income
$47,164
Other revenue
$945,205
Total assets, end of year
$3,898,976
Total liabilities, end of year
$194,187
Net assets or fund balances, end of year
$3,704,789
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 0.0% 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.

  • 1b · Membership dues

    $6,500

  • 1e · Government grants (contributions)

    $5,000

  • 3 · Investment income

    total $47,164 · excluded $47,164

  • 6a · Gross rents

    real property $1,325

  • 6c · Rental income or loss

    real property $1,325

  • 6d · Net rental income or loss

    total $1,325 · excluded $1,325

  • 10a · Gross sales of inventory

    $4,202,396

  • 10b · Cost of goods sold

    $3,258,516

  • 10c · Net income from sales of inventory

    total $943,880 · related or exempt $943,880

Functional expenses

Part IX, the statement of functional expenses.

  • 11b · Fees: legal

    total $7,048

  • 11c · Fees: accounting

    total $6,923

  • 13 · Office expenses

    total $836

  • 20 · Interest

    total $30,033

  • 23 · Insurance

    total $1,920

  • 24a · Other expenses: CITY PARK FEE

    total $28,270

  • 24b · Other expenses: MISCELLANEOUS EXPENSES

    total $7,149

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $27,739 · end of year $36,507

  • 2 · Savings and temporary cash investments

    beginning of year $99,442 · end of year $1,812,672

  • 8 · Inventories for sale or use

    beginning of year $4,483,967 · end of year $2,049,797

  • 15 · Other assets

    beginning of year $10,000

  • 17 · Accounts payable and accrued expenses

    end of year $82,494

  • 23 · Secured mortgages and notes payable

    beginning of year $1,738,049

  • 25 · Other liabilities

    beginning of year $100,000 · end of year $111,693

  • 27 · Net assets without donor restrictions

    beginning of year $2,783,099 · end of year $3,704,789

Mission and programs · 2022

Mission

THE MISSION OF THE BRANDON DEVELOPMENT FOUNDATION (BDF) IS TO CREATE AND TO RETAIN JOBS WITHIN THE COMMUNITY. AS A NON-PROFIT ORGANIZATION WITH A VOLUNTEER BOARD OF DIRECTORS, BDF TAKES THE LONG-VIEW AND REALIZES THAT ECONOMIC DEVELOPMENT IS A LONG-TERM EFFORT. ECONOMIC DEVELOPMENT BRINGS NEW JOBS INTO TOWN WHICH BENEFITS THE COMMUNITY THROUGH INCREASED LOCAL PAYROLLS THAT IN TURN COME BACK TO BRANDON IN TERMS OF RETAIL ACTIVITY, SALES TAX, AND INCREASED HOME OWNERSHIP. ADDITIONALLY, COMMERCIAL AND INDUSTRIAL PROPERTIES PAY PROPORTIONATELY MORE PROPERTY TAX AND TAKE BACK LESS IN SERVICES THAN RESIDENTIAL OWNERS. THE BOTTOM LINE IS THAT INDUSTRIAL GROWTH IS TAX RELIEF AND ECONOMIC DEVELOPMENT IS GOOD FOR THE CITY OF BRANDON.

  • SALES IN THE ROVANG INDUSTRIAL PARK IN THE PAST YEAR INCLUDED SIX LOTS OF A TOTAL OF 28.806 ACRES OF BARE LAND. THE MAJORITY OF OUR WORK THIS PAST YEAR HAS BEEN WORKING WITH SAYRE ASSOCIATES, SOUKUP CONSTRUCTION, AND VARIOUS CONTRACTORS TO COMPLETE THE REMAINING INFRASTRUCTURE IMPROVEMENTS IN THE ROVANG INDUSTRIAL PARK (PHASE 2). WHILE ALL CONSTRUCTION HAS BEEN COMPLETED, WE HAVE NOT YET RECEIVED THE FINAL BILL ASSOCIATED WITH THE HONEYSUCKLE STREET EXTENSION PROJECT. WE WILL ALSO LIKELY INCUR SOME RECURRING MAINTENANCE COSTS FOR THE DETENTION POND. THIS EXPENSE WILL EXIST UNTIL SUCH A TIME AS OUR REMAINING THREE LOTS ARE SOLD, AND THE DETENTION POND IS TRANSFERRED TO THE CITY OF BRANDON.

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Tim Jorgenson

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    0.75

  • Chuck Parsons

    CHAIRMAN-END

    Total calculated
    $0
    Hours/week
    0.75

  • Paul Vandeberg

    VICE CHAIRMA

    Total calculated
    $0
    Hours/week
    0.25

  • Jay Buchholz

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • Kevin Erickson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • Anthony Siemonsma

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • Steve Kolbeck

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • Jason Long

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • Yannick Laroche

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • Aj Delange

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • Patrick Andrews

    SECRETARY/TR

    Total calculated
    $0
    Hours/week
    1.25

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.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
24 April 2024
IRS schema version
2022v5.0
Source object
202411209349301211

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