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Nonprofiteer
← GREATER WATTS DEVELOPMENT CORPORATION

Form 990 for tax year 2022

Filed by GREATER WATTS DEVELOPMENT CORPORATION.

Totals

Total revenue
$0
Total expenses
$536,328
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$0
Other revenue
$0
Total assets, end of year
$3,468,469
Total liabilities, end of year
$3,188,874
Net assets or fund balances, end of year
$279,595
Program services expenses (Part IX)
$532,828
Management and general expenses
$3,500
Fundraising expenses
$0
Program service expenses (Part III)
$532,828

Program services were 99.3% 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: DEVELOPMENT FEES

    total $0 · unrelated business $0 · excluded $0

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $254,427 · program services $254,427 · management and general $0 · fundraising $0

  • 7 · Other salaries and wages

    total $50,066 · program services $50,066 · management and general $0 · fundraising $0

  • 10 · Payroll taxes

    total $22,805 · program services $22,805 · management and general $0 · fundraising $0

  • 11c · Fees: accounting

    total $6,500 · program services $3,000 · management and general $3,500 · fundraising $0

  • 13 · Office expenses

    total $1,324 · program services $1,324 · management and general $0 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $127,512 · program services $127,512 · management and general $0 · fundraising $0

  • 23 · Insurance

    total $1,640 · program services $1,640 · management and general $0 · fundraising $0

  • 24a · Other expenses: ARCHITECT FEES

    total $63,575 · program services $63,575 · management and general $0 · fundraising $0

  • 24b · Other expenses: TELEPHONE

    total $1,531 · program services $1,531 · management and general $0 · fundraising $0

  • 24c · Other expenses: REPAIRS, MAIN/OTHER FACILITY EXP

    total $4,398 · program services $4,398 · management and general $0 · fundraising $0

  • 24d · Other expenses: PAYROLL FEES

    total $2,530 · program services $2,530 · management and general $0 · fundraising $0

  • 24e · All other expenses

    total $20 · program services $20 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $89,640 · end of year $13,378

  • 4 · Accounts receivable

    beginning of year $183,312 · end of year $67,928

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

    $831,551

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

    $635,187

  • 10c · Land, buildings and equipment, net

    beginning of year $323,876 · end of year $196,364

  • 15 · Other assets

    beginning of year $3,060,556 · end of year $3,190,799

  • 17 · Accounts payable and accrued expenses

    beginning of year $358,994 · end of year $626,308

  • 19 · Deferred revenue

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

  • 25 · Other liabilities

    beginning of year $682,320 · end of year $743,575

  • 27 · Net assets without donor restrictions

    beginning of year $797,079 · end of year $279,595

Mission and programs · 2022

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 individuals. Please refer to the attached for additional program services reported

    Expenses $532,828

As filed on the 2022 return.

Listed in Part VII

  • Timothy Watkins

    President/CEO

    Total calculated
    $57,988
    From this org
    $57,988
    From related orgs
    $0
    Other
    $0
    Hours/week
    15

  • Messele Negash

    Secretary/Quality Assurance

    Total calculated
    $47,122
    From this org
    $47,122
    From related orgs
    $0
    Other
    $0
    Hours/week
    15

  • Naima Greffon

    VP - Development

    Total calculated
    $123,655
    From this org
    $123,655
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Shamika Shoulders

    Treasurer

    Total calculated
    $107,616
    From this org
    $0
    From related orgs
    $81,954
    Other
    $25,662
    Hours/week
    2

  • 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.

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
2022
Filed
14 May 2024
IRS schema version
2022v5.0
Source object
202411369349318486

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