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Nonprofiteer
← COMPLEDGE CORP

Form 990 for tax year 2023

Filed by COMPLEDGE CORP.

Totals

Total revenue
$500,530
Total expenses
$2,841,788
Contributions and grants received
$0
Grants paid
$2,825,850
Program service revenue
$0
Investment income
$500,530
Other revenue
$0
Total assets, end of year
$3,317,857
Total liabilities, end of year
$2,457,010
Net assets or fund balances, end of year
$860,847
Program services expenses (Part IX)
$2,825,850
Management and general expenses
$15,938
Fundraising expenses
$0
Program service expenses (Part III)
$2,825,850

Program services were 99.4% 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.

  • 7a · Gross sales of assets other than inventory

    other assets $4,940,000

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

    other assets $4,439,470

  • 7c · Gain or loss

    other assets $500,530

  • 7d · Net gain or loss

    total $500,530 · excluded $500,530

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $2,825,850 · program services $2,825,850

  • 11c · Fees: accounting

    total $11,281 · management and general $11,281

  • 11g · Fees: other

    total $3,555 · management and general $3,555

  • 13 · Office expenses

    total $45 · management and general $45

  • 24a · Other expenses: RE TAXES PAID AT CLOSIN

    total $1,057 · management and general $1,057

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $447,735 · end of year $217,857

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

    $3,100,000

  • 10c · Land, buildings and equipment, net

    beginning of year $7,390,000 · end of year $3,100,000

  • 22 · Loans and payables to officers and key people

    beginning of year $4,635,630 · end of year $2,457,010

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 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 $3,202,105 · end of year $860,847

Mission and programs · 2023

Mission

THE CHARITY WILL MAKE ANNUAL DISTRIBUTIONS TO ITS SUPPORTED ORGANIZATIONS CONSISTENT WITH THE REQUIREMENTS OF A TYPE III SUPPORTING ORGANIZATION, AS DEFINED UNDER SECTION 509(A)(3) AND FOLLOWING THE DEMONSTRATED NEEDS OF ITS SUPPORTED ORGANIZATIONS. AS ALL GRANTS WILL BE MADE TO THE CHARITY'S NAMED SUPPORTED ORGANIZATIONS, THE CHARITY WILL NOT REQUIRE APPLICATIONS OR PROPOSALS FOR EACH GRANT AND WILL DETERMINE THE AMOUNTS OF GRANTSEACH YEAR BASED ON THE NEEDS OF ITS SUPPORTED ORGANIZATIONS. THE CHARITY WILL MONITOR THE USE OF THE FINANCIAL SUPPORT PROVIDED TO ITS SUPPORTED ORGANIZATIONS THROUGH ITS CLOSE AND CONTINUING RELATIONSHIP WITH ITS SUPPORTED ORGANIZATIONS.

Activities or mission (Part I)

TO PROVIDE ANNUAL DISTRIBUTIONS TO ITS SUPPORTED TYPE III ORGANIZATIONS DEFINED UNDER SECTION 509(A)(3) FOR EDUCATION PURPOSES.

  • THE ORGANIZATION IS ORGANIZED AND SHALL BE ADMINISTRERED AND OPERATED BY ITS TRUSTEES EXCLUSIVELY FOR CHARITABLE AND EDUCATIONAL PURPOSES WITHIN THE MEANING OF SECTION 501(C)(3).

    Expenses $2,825,850 · Grants $2,825,850

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

Listed in Part VII

  • JOSEPH MUSCARELLE

    PRES/SECRETARY/TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • JOSEPH FIORENZO

    VP/TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • GEORGE HEINRICH MD

    TREASURER/TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • CLYDE SZUCH

    TRUSTEE

    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

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
2023
Filed
14 November 2024
IRS schema version
2023v5.1
Source object
202443249349300909

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