Form 990 for tax year 2022
Filed by LIVE THE DREAM DEVELOPMENT INC.
Totals
- Total revenue
- $1,764,347
- Total expenses
- $1,348,624
- Contributions and grants received
- $790,499
- Grants paid
- $0
- Program service revenue
- $858,543
- Investment income
- $15,305
- Other revenue
- $100,000
- Total assets, end of year
- $8,853,178
- Total liabilities, end of year
- $7,818,228
- Net assets or fund balances, end of year
- $1,034,950
- Program services expenses (Part IX)
- $1,315,224
- Management and general expenses
- $33,400
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $1,315,224
Program services were 97.5% 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.
-
1e · Government grants (contributions)
$706,503
-
1f · All other contributions, gifts and grants
$83,996
-
2a · Program service revenue: HOME OWNERSHIP- SEE SCHEDULEO
total $589,000 · related or exempt $589,000
-
2b · Program service revenue: RENTAL-TARGETED POPULATION
total $168,034 · related or exempt $168,034
-
2c · Program service revenue: INSURANCE PROCEEDS
total $97,578 · related or exempt $97,578
-
2d · Program service revenue: HOME OWNERSHIP COUNSELING
total $3,931 · related or exempt $3,931
-
3 · Investment income
total $15,305 · related or exempt $15,305
-
11a · Other revenue: DEBT FORGIVENESS
total $100,000 · excluded $100,000
-
11e · Other revenue, total
$100,000
Functional expenses
Part IX, the statement of functional expenses.
-
7 · Other salaries and wages
total $3,909 · program services $3,909
-
9 · Other employee benefits
total $287 · program services $287
-
10 · Payroll taxes
total $299 · program services $299
-
11b · Fees: legal
total $8,134 · program services $8,134
-
11c · Fees: accounting
total $33,400 · management and general $33,400
-
16 · Occupancy
total $181 · program services $181
-
20 · Interest
total $62,929 · program services $62,929
-
22 · Depreciation, depletion and amortization
total $109,543 · program services $109,543
-
23 · Insurance
total $9,162 · program services $9,162
-
24a · Other expenses: HOME OWNERSHIP- SCH O
total $724,964 · program services $724,964
-
24b · Other expenses: CONTRACT COSTS
total $355,509 · program services $355,509
-
24c · Other expenses: GENERAL EXPENSES
total $29,876 · program services $29,876
-
24d · Other expenses: SUPPLIES
total $7,261 · program services $7,261
-
24e · All other expenses
total $3,170 · program services $3,170
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $183,956 · end of year $1,052,345
-
4 · Accounts receivable
beginning of year $131,940 · end of year $268,366
-
10a · Land, buildings and equipment: cost or other basis
$3,059,305
-
10b · Land, buildings and equipment: accumulated depreciation
$382,682
-
10c · Land, buildings and equipment, net
beginning of year $2,786,166 · end of year $2,676,623
-
13 · Investments: program-related
beginning of year $4,830,323 · end of year $4,855,844
-
17 · Accounts payable and accrued expenses
beginning of year $132,475
-
19 · Deferred revenue
end of year $1,000,000
-
23 · Secured mortgages and notes payable
beginning of year $6,794,993 · end of year $6,431,857
-
25 · Other liabilities
beginning of year $385,690 · end of year $386,371
-
27 · Net assets without donor restrictions
beginning of year $619,227 · end of year $1,034,950
Mission and programs · 2022
Mission
TO PROMOTE ECONOMIC DEVELOPMENT AND ENHANCE AFFORDABLE HOUSING IN THE COMMUNITY OF BOWLING GREEN AND WARREN COUNTY, KENTUCKY AND TO OTHERWISE IMPROVE THE QUALITY OF LIFE IN THE AREAS FOR TARGETED LOW-INCOME RESIDENTS IN THE AREAS.
-
TO PROMOTE ECONOMIC DEVELOPMENT AND ENHANCE AFFORDABLE HOUSING IN THE COMMUNITY OF BOWLING GREEN AND WARREN COUNTY, KENTUCKY AND TO OTHERWISE IMPROVE THE QUALITY OF LIFE IN THE AREA. SERVICES INCLUDE BUYING AND REHABILITATING HOMES TO SELL TO THEIR TARGETED POPULATION GROUPS UNDER THE FEDERAL HUD GUIDELINES, AS WELL AS, TEACHING HOME OWNERSHIP COURSES TO LOW TO MODERATE INCOME FAMILIES TO EDUCATE THEM ON THE HOME BUYING PROCESS.
Expenses $1,315,224 · Revenue $858,543
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
John Paul BlairJOHN PAUL BLAIR
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Mary CohronMARY COHRON
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Brad HowardBRAD HOWARD
CHAIRMAN
- Total calculated
- $0
- Hours/week
- 1
-
Lawrence WhiteLAWRENCE WHITE
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Abraham WilliamsABRAHAM WILLIAMS
SECRETARY/TR
- Total calculated
- $0
- Hours/week
- 1
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.
Taxable family on this return
Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.
Related partnerships
Part III: related organizations taxable as a partnership, with the filer's share.
-
FORT WEBB ELDERLY HOUSING LLLP
RELATED · PART VII · KY
Related corporations and trusts
Part IV: related organizations taxable as a corporation or trust.
-
FORT WEBB DEVELOPMENT CORPORATION
C CORP · PART VII · KY · 100% owned · share of income -$14 · share of assets $4,063,236 · controlled entity
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 15 November 2023
- IRS schema version
- 2022v5.0
- Source object
- 202303199349311875
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
The source document this was parsed from is served over the API, which is where bulk and document access live.