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Nonprofiteer
← 1300 LOGAN INVESTMENT INC

Form 990 for tax year 2023

Filed by 1300 LOGAN INVESTMENT INC.

Totals

Total revenue
$2,764,252
Total expenses
$146,087
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$2,764,252
Other revenue
$0
Total assets, end of year
$0
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$0
Program services expenses (Part IX)
$146,087
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$146,087

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.

  • 1a · Federated campaigns

    $0

  • 1b · Membership dues

    $0

  • 1c · Fundraising events

    $0

  • 1d · Related organizations

    $0

  • 1e · Government grants (contributions)

    $0

  • 1f · All other contributions, gifts and grants

    $0

  • 1g · Noncash contributions included above

    $0

  • 3 · Investment income

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

  • 4 · Income from investment of tax-exempt bond proceeds

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

  • 5 · Royalties

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

  • 6d · Net rental income or loss

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

  • 7a · Gross sales of assets other than inventory

    securities $0 · other assets $3,277,900

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

    securities $0 · other assets $513,648

  • 7c · Gain or loss

    securities $0 · other assets $2,764,252

  • 7d · Net gain or loss

    total $2,764,252 · related or exempt $2,764,252 · unrelated business $0 · excluded $0

  • 8a · Fundraising events: gross income

    $0

  • 8a · Fundraising events: contributions included on line 1c

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

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

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    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.

  • 11a · Fees: management

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

  • 11b · Fees: legal

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

  • 11c · Fees: accounting

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

  • 11d · Fees: lobbying

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

  • 11e · Fees: professional fundraising services

    total $0 · fundraising $0

  • 11f · Fees: investment management

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

  • 11g · Fees: other

    total $41,167 · program services $41,167 · management and general $0 · fundraising $0

  • 12 · Advertising and promotion

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

  • 13 · Office expenses

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

  • 14 · Information technology

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

  • 15 · Royalties

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

  • 16 · Occupancy

    total $59,344 · program services $59,344 · management and general $0 · fundraising $0

  • 17 · Travel

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

  • 18 · Travel or entertainment for public officials

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

  • 19 · Conferences, conventions and meetings

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

  • 20 · Interest

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

  • 21 · Payments to affiliates

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

  • 22 · Depreciation, depletion and amortization

    total $45,576 · program services $45,576 · management and general $0 · fundraising $0

  • 23 · Insurance

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

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $0 · end of year $0

  • 2 · Savings and temporary cash investments

    beginning of year $0 · end of year $0

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $0 · end of year $0

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $5,782 · end of year $0

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

    $0

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $562,115 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $0 · end of year $0

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $1,386,609 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year -$818,712 · end of year $0

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $0

Mission and programs · 2023

Mission

1300 LOGAN INVESTMENT INC. IS A 501C25 ORGANIZATION. IT WAS ORGANIZED FOR THE EXCLUSIVE PURPOSE OF ACQUIRING REAL PROPERTY AS DEFINED IN IRS SEC. 501C25 HOLDING TITLE TO AND COLLECTING INCOME FROM SUCH PROPERTY AND REMITTING THE ENTIRE AMOUNT OF THE INCOME FROM SUCH PROPERTY LESS EXPENSES TO THE SHAREHOLDER OF THIS CORPORATION. THE SOLE SHAREHOLDER OF THIS CORPORATION IS THE PUBLIC EMPLOYEES' RETIREMENT ASSOCIATION OF COLORADO WHICH IS A TAX-EXEMPT PENSION FUND WHICH MEETS THE REQUIREMENTS OF SECTION 414D. THIS SHAREHOLDER RECEIVED THE 2019 NET INCOME OF 1300 LOGAN INVESTMENT INC.

Activities or mission (Part I)

1300 LOGAN INVESTMENT INC. IS A 501C25 ORGANIZATION. IT WAS ORGANIZED FOR THE EXCLUSIVE PURPOSE OF ACQUIRING REAL PROPERTY AS DEFINED IN IRS SEC. 501C25 HOLDING TITLE TO AND COLLECTING INCOME FROM SUCH PROPERTY AND REMITTING THE ENTIRE AMOUNT OF THE INCOME FROM SUCH PROPERTY LESS EXPENSES TO THE SHAREHOLDER OF THIS CORPORATION. THE SOLE SHAREHOLDER OF THIS CORPORATION IS THE PUBLIC EMPLOYEES' RETIREMENT ASSOCIATION OF COLORADO WHICH IS A TAX-EXEMPT PENSION FUND THAT MEETS THE REQUIREMENTS OF SECTION 414D. THIS SHAREHOLDER RECEIVED THE 2019 NET INCOME OF 1300 LOGAN INVESTMENT INC.

  • 1300 LOGAN INVESTMENT INC. IS A 501C25 ORGANIZATION. IT WAS ORGANIZED FOR THE EXCLUSIVE PURPOSE OF ACQUIRING REAL PROPERTY AS DEFINED IN IRS SEC. 501C25 HOLDING TITLE TO AND COLLECTING INCOME FROM SUCH PROPERTY AND REMITTING THE ENTIRE AMOUNT OF THE INCOME FROM SUCH PROPERTY LESS EXPENSES TO THE SHAREHOLDER OF THIS CORPORATION. THE SOLE SHAREHOLDER OF THIS CORPORATION IS THE PUBLIC EMPLOYEES' RETIREMENT ASSOCIATION OF COLORADO WHICH IS A TAX-EXEMPT PENSION FUND WHICH MEETS THE REQUIREMENTS OF SECTION 414D. THIS SHAREHOLDER RECEIVED THE 2019 NET INCOME OF 1300 LOGAN INVESTMENT INC.

    Expenses $146,087

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Jeremy Hill

    President

    Total calculated
    $318,724
    From this org
    $0
    From related orgs
    $251,500
    Other
    $67,224
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $241,150 related
    Bonus
    $0 + $10,350 related
    Other
    $0
    Deferred
    $0 + $54,305 related
    Nontaxable benefits
    $0 + $14,105 related
    Filer's total
    $0 + $319,910 related

  • Kevin Gallaway

    Secretary and Treasurer

    Total calculated
    $279,202
    From this org
    $0
    From related orgs
    $216,125
    Other
    $63,077
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $201,125 related
    Bonus
    $0 + $15,000 related
    Other
    $0
    Deferred
    $0 + $46,979 related
    Nontaxable benefits
    $0 + $17,277 related
    Filer's total
    $0 + $280,381 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

  • 3 · Independent compensation consultant
  • 3 · Compensation survey or study

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

Part I Line 3
A study is conducted by COPERA, and an independent consultant gives input to determine reasonable compensation for employees in these officers' positions. Once reasonable compensation is determined, the board of directors must approve the budget.

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.

Assets distributed on this return

Schedule N, as filed: what the organization did with its assets when it liquidated or dissolved, or disposed of more than a quarter of them, and who received them. A recipient with an EIN is usually a successor organization; filers also list expenses such as legal fees here.

  • Public Employees Retirement Association of Colorado

    $1,799,453

    Liquidation · The proceeds from the sale of all assets were distributed to the sole member of 1300 Logan Investment, Inc, Public Employees' Retirement Association of Colorado (COPERA). COPERA is a tax exempt pension fund that meets the requirements of section 414(d). · Dec 14, 2023 · 115

  • Colorado PERA

    $1,799,453

    Disposition · The proceeds from the sale of all assets were distributed to the sole member of 1300 Logan Investment, Inc, Public Employees' Retirement Association of Colorado (COPERA). COPERA is a tax exempt pension fund that meets the requirements of section 414(d). · Dec 14, 2023 · 115

Provenance

Return type
form_990
Tax year
2023
Filed
14 May 2024
IRS schema version
2023v5.0
Source object
202401359349308500

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