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Nonprofiteer
← COMMUNIHEALTH DEVELOPMENT CORPORATION

Form 990 for tax year 2023

Filed by COMMUNIHEALTH DEVELOPMENT CORPORATION.

Totals

Total revenue
$155,822
Total expenses
$589,319
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$150,000
Investment income
$5,822
Other revenue
$0
Total assets, end of year
$10,566,609
Total liabilities, end of year
$11,429,792
Net assets or fund balances, end of year
-$863,183
Program services expenses (Part IX)
$559,824
Management and general expenses
$29,495
Fundraising expenses
$0
Program service expenses (Part III)
$559,824

Program services were 95.0% 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.

  • 2a · Program service revenue: Rental Income

    total $150,000 · related or exempt $150,000

  • 3 · Investment income

    total $5,822 · excluded $5,822

Functional expenses

Part IX, the statement of functional expenses.

  • 11b · Fees: legal

    total $669 · program services $562 · management and general $107

  • 11c · Fees: accounting

    total $20,975 · program services $17,619 · management and general $3,356

  • 11g · Fees: other

    total $32,500 · program services $32,500

  • 13 · Office expenses

    total $140 · management and general $140

  • 20 · Interest

    total $159,951 · program services $134,359 · management and general $25,592

  • 22 · Depreciation, depletion and amortization

    total $370,259 · program services $370,259

  • 23 · Insurance

    total $300 · management and general $300

  • 24a · Other expenses: Repairs and Maintenance

    total $4,525 · program services $4,525

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $48,465 · end of year $10,016

  • 2 · Savings and temporary cash investments

    beginning of year $951,916 · end of year $229,099

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

    $10,935,687

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

    $612,393

  • 10c · Land, buildings and equipment, net

    beginning of year $10,481,822 · end of year $10,323,294

  • 15 · Other assets

    beginning of year $4,200 · end of year $4,200

  • 17 · Accounts payable and accrued expenses

    beginning of year $462,383

  • 23 · Secured mortgages and notes payable

    beginning of year $11,348,040 · end of year $11,390,016

  • 25 · Other liabilities

    beginning of year $105,666 · end of year $39,776

  • 27 · Net assets without donor restrictions

    beginning of year -$429,686 · end of year -$863,183

Mission and programs · 2023

Mission

Communihealth Development Corp exists to support Morehouse Community Medical Ctrs, Inc. by assisting, through a New Market Tax Credit arrangement, in the development of a multi-use building utilized in the provision of rural community based health program for adults and children.

  • Supporting Morehouse Community Medical Centers, Inc. by assisting, throuh a New Market Tax Credit arrangement, in the development of a multi-use building utilized in the provision of rural community based health programs for adults and children.

    Expenses $559,824 · Revenue $150,000

As filed on the 2023 return.

Listed in Part VII

  • Brandon Maxwell

    Treasurer

    Total calculated
    $0
    Hours/week
    5

  • Brenda Norman

    Vice-President

    Total calculated
    $0
    Hours/week
    5

  • Kay King

    Secretary

    Total calculated
    $0
    Hours/week
    5

  • Katie Parnell

    President-CEO

    Total calculated
    $0
    Hours/week
    5

  • Joe Derry

    Board Member-CFO

    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

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.

Provenance

Return type
form_990
Tax year
2023
Filed
27 January 2025
IRS schema version
2023v6.0
Source object
202540289349301209

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