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Nonprofiteer
← 700 Prospect Corporation

Form 990 for tax year 2022

Filed by 700 Prospect Corporation.

Totals

Total revenue
$2,439,408
Total expenses
$644,354
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$538,193
Investment income
$1,746,761
Other revenue
$154,454
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)
$606,751
Management and general expenses
$37,603
Fundraising expenses
$0
Program service expenses (Part III)
$606,751

Program services were 94.2% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • Heather Kimmel

    Secretary

    Total calculated
    $249,289
    From this org
    $0
    From related orgs
    $189,106
    Other
    $60,183
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $185,808 related
    Bonus
    $0
    Other
    $0 + $3,298 related
    Deferred
    $0 + $26,752 related
    Nontaxable benefits
    $0 + $33,431 related
    Filer's total
    $0 + $249,289 related

  • John Dorhauer

    President

    Total calculated
    $238,929
    From this org
    $0
    From related orgs
    $183,150
    Other
    $55,779
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $180,235 related
    Bonus
    $0
    Other
    $0 + $2,915 related
    Deferred
    $0 + $29,273 related
    Nontaxable benefits
    $0 + $26,506 related
    Filer's total
    $0 + $238,929 related

  • Tami Marinella

    Treasurer

    Total calculated
    $223,390
    From this org
    $0
    From related orgs
    $173,002
    Other
    $50,388
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $168,600 related
    Bonus
    $0
    Other
    $0 + $4,402 related
    Deferred
    $0 + $22,359 related
    Nontaxable benefits
    $0 + $28,029 related
    Filer's total
    $0 + $223,390 related

  • Karen Georgia Thompson

    Trustee

    Total calculated
    $184,734
    From this org
    $0
    From related orgs
    $145,020
    Other
    $39,714
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $143,599 related
    Bonus
    $0
    Other
    $0 + $1,421 related
    Deferred
    $0 + $22,656 related
    Nontaxable benefits
    $0 + $17,058 related
    Filer's total
    $0 + $184,734 related

  • Traci Blackmon

    Trustee

    Total calculated
    $183,081
    From this org
    $0
    From related orgs
    $145,250
    Other
    $37,831
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $143,579 related
    Bonus
    $0
    Other
    $0 + $1,671 related
    Deferred
    $0 + $22,368 related
    Nontaxable benefits
    $0 + $15,463 related
    Filer's total
    $0 + $183,081 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

  • 1a · Housing allowance or residence for personal use
  • 2 · Substantiation required before reimbursing expenses

Answered no

  • 1b · Written policy on the line-1a expenses
  • 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

The filer's explanations (Part III)

Part I, Line 1a
The following individuals received ministerial housing allowances in the reported amounts during 2022. The housing allowances were not treated as taxable compensation. - John Dorhauer, $40,000 - Traci Blackmon, $36,000 - Karen Georgia Thomson, $30,000
Part I, Line 1b
700 Prospect Corporation does not have a written policy regarding payment or reimbursement or provision of housing allowances because the housing allowances are not provided by 700 Prospect Corporation. Instead, these housing allowances are provided by the United Church of Christ, a related organization. Therefore, the housing allowances are covered by the United Church of Christ's policies.
Part I, Line 3
700 Prospect Corporation does not directly pay compensation for any employees. The related organization, United Church of Christ, established compensation by compensation committee and approval by the board or compensation committee.

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.

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.

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.

Provenance

Return type
form_990
Tax year
2022
Filed
6 November 2023
IRS schema version
2022v5.0
Source object
202343119349302254

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