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Nonprofiteer
← GREATER WATTS DEVELOPMENT CORPORATION

Form 990 for tax year 2023

Filed by GREATER WATTS DEVELOPMENT CORPORATION.

Totals

Total revenue
$0
Total expenses
$592,246
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$0
Other revenue
$0
Total assets, end of year
$2,903,208
Total liabilities, end of year
$3,215,859
Net assets or fund balances, end of year
-$312,651
Program services expenses (Part IX)
$592,246
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$592,246

Program services were 100.0% 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.

  • 11a · Other revenue: DEVELOPERS FEES

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $508,586 · program services $508,586 · management and general $0 · fundraising $0

  • 9 · Other employee benefits

    total $1,836 · program services $1,836 · management and general $0 · fundraising $0

  • 10 · Payroll taxes

    total $32,458 · program services $32,458 · management and general $0 · fundraising $0

  • 13 · Office expenses

    total $24 · program services $24 · management and general $0 · fundraising $0

  • 19 · Conferences, conventions and meetings

    total $284 · program services $284 · management and general $0 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $44,611 · program services $44,611 · management and general $0 · fundraising $0

  • 24a · Other expenses: ADP PAYROLL PROCESSING

    total $4,320 · program services $4,320 · management and general $0 · fundraising $0

  • 24b · Other expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 24e · All other expenses

    total $127 · program services $127 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $13,378 · end of year $967,163

  • 4 · Accounts receivable

    beginning of year $67,928 · end of year $67,928

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

    $831,551

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

    $679,798

  • 10c · Land, buildings and equipment, net

    beginning of year $196,364 · end of year $151,753

  • 15 · Other assets

    beginning of year $3,190,799 · end of year $1,716,364

  • 17 · Accounts payable and accrued expenses

    beginning of year $626,308 · end of year $630,929

  • 19 · Deferred revenue

    beginning of year $1,818,991 · end of year $1,818,991

  • 25 · Other liabilities

    beginning of year $743,575 · end of year $765,939

  • 27 · Net assets without donor restrictions

    beginning of year $279,595 · end of year -$312,651

Mission and programs · 2023

Mission

Charitable, educational and affordable housing activities for the benefit of the residents of Greater Watts area in Los Angeles, CA and neighbooring communities.

  • Provide affordable housing to low income individuals and disabled persons.

    Expenses $592,246

As filed on the 2023 return.

Listed in Part VII

  • Timothy Watkins

    President/CEO

    Total calculated
    $624,070
    From this org
    $281,412
    From related orgs
    $342,658
    Other
    $0
    Hours/week
    15

    Schedule J breakdown matched by us

    Base
    $281,412
    Bonus
    $0
    Other
    $342,658
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $624,070

  • Messele Negash

    Secretary/Quality Assurance

    Total calculated
    $261,638
    From this org
    $70,846
    From related orgs
    $190,792
    Other
    $0
    Hours/week
    15

    Schedule J breakdown matched by us

    Base
    $70,846
    Bonus
    $0
    Other
    $190,792
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $261,638

  • NAIMA GREFFON

    VP - Development

    Total calculated
    $144,000
    From this org
    $144,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Shamika Shoulders

    Treasurer

    Total calculated
    $141,385
    From this org
    $12,328
    From related orgs
    $129,057
    Other
    $0
    Hours/week
    2

    Schedule J breakdown matched by us · ignoring case and punctuation

    Base
    $12,328
    Bonus
    $0
    Other
    $129,057
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $141,385

  • Alfred Jones Moore

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Tommy Beard Jr

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Tyra Goodman

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • CArmen Taylor Jones

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Brian Lee

    Board Member

    Total calculated
    $0
    Hours/week
    2

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.

Provenance

Return type
form_990
Tax year
2023
Filed
1 August 2024
IRS schema version
2023v6.0
Source object
202521359349318672

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