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Nonprofiteer
← PAC DEVELOPMENT INC

Form 990 for tax year 2022

Filed by PAC DEVELOPMENT INC.

Totals

Total revenue
$2,249,012
Total expenses
$443,326
Contributions and grants received
$410,000
Grants paid
$0
Program service revenue
$0
Investment income
$1,808,922
Other revenue
$30,090
Total assets, end of year
$11,106,219
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$11,106,219
Program services expenses (Part IX)
$0
Management and general expenses
$443,326
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.

  • 1d · Related organizations

    $410,000

  • 6a · Gross rents

    real property $30,090

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $30,090

  • 6d · Net rental income or loss

    total $30,090 · excluded $30,090

  • 7a · Gross sales of assets other than inventory

    other assets $3,590,469

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

    other assets $1,781,547

  • 7c · Gain or loss

    other assets $1,808,922

  • 7d · Net gain or loss

    total $1,808,922 · excluded $1,808,922

Functional expenses

Part IX, the statement of functional expenses.

  • 11b · Fees: legal

    total $13,072 · management and general $13,072

  • 23 · Insurance

    total $2,332 · management and general $2,332

  • 24a · Other expenses: SITE DEVELOPMENT

    total $290,134 · management and general $290,134

  • 24b · Other expenses: TAXES

    total $54,817 · management and general $54,817

  • 24c · Other expenses: PROFESSIONAL FEES

    total $44,861 · management and general $44,861

  • 24d · Other expenses: GARDEN EXPENSES

    total $34,703 · management and general $34,703

  • 24e · All other expenses

    total $3,407 · management and general $3,407

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $16,959 · end of year $13,624

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

    $11,092,595

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $12,874,142 · end of year $11,092,595

  • 29 · Capital stock, trust principal or current funds

    beginning of year $12,891,101 · end of year $11,106,219

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $0 · end of year $0

Mission and programs · 2022

Mission

THE ORGANIZATION IS SOLELY ORGANIZED FOR THE PURPOSE OF HOLDING TITLE TO PROPERTY, COLLECTING INCOME THEREFROM, AND TURNING OVER THE ENTIRE AMOUNT THEREOF, LESS EXPENSES, TO THE QUALIFIED 501(C)(3) ORGANIZATION, THE MURIEL MCBRIEN KAUFFMAN FAMILY FOUNDATION.

Activities or mission (Part I)

TO HOLD TITLE TO PROPERTY, COLLECT INCOME THEREFROM, AND TURN OVER THE ENTIRE AMOUNT THEREOF, LESS EXPENSES, TO THE MURIEL MCBRIEN KAUFFMAN FAMILY FOUNDATION, A QUALIFIED 501(C)(3) ORGANIZATION

  • NONE

As filed on the 2022 return.

Listed in Part VII

  • David C Lady

    PRESIDENT

    Total calculated
    $313,924
    From this org
    $0
    From related orgs
    $256,342
    Other
    $57,582
    Hours/week
    1 + 32 related

    Schedule J breakdown matched by us

    Base
    $0 + $256,342 related
    Bonus
    $0
    Other
    $0
    Deferred
    $31,900
    Nontaxable benefits
    $25,682
    Filer's total
    $57,582 + $256,342 related

  • Peter Brown

    SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • George Jandl

    TREASURER

    Total calculated
    $0
    Hours/week
    1 + 1 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. 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

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
2022
Filed
9 November 2023
IRS schema version
2022v5.0
Source object
202313199349306696

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