Totals
- Total revenue
- $96,590
- Total expenses
- $1,744
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $96,590
- Investment income
- $0
- Other revenue
- $0
- Total assets, end of year
- $5,151,450
- Total liabilities, end of year
- $1,624
- Net assets or fund balances, end of year
- $5,149,826
- Program services expenses (Part IX)
- $1,744
- Management and general expenses
- $0
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $1,744
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.
-
2a · Program service revenue: LOAN INTEREST
total $96,590 · related or exempt $96,590
Functional expenses
Part IX, the statement of functional expenses.
-
20 · Interest
total $120 · program services $120
-
23 · Insurance
total $1,624 · program services $1,624
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $205,421 · end of year $301,891
-
7 · Other notes and loans receivable
beginning of year $4,837,549 · end of year $4,837,549
-
15 · Other assets
beginning of year $12,010 · end of year $12,010
-
17 · Accounts payable and accrued expenses
end of year $1,624
-
27 · Net assets without donor restrictions
beginning of year $5,054,980 · end of year $5,149,826
Mission and programs · 2022
Mission
PPL INVESTMENT CORPORATION IS ORGANIZED AND WILL OPERATE EXCLUSIVELY FOR CHARITABLE AND EDUCATIONAL PURPOSES, AND EXCLUSIVELY FOR THE BENEFIT OF, TO SUPPORT THE FUNCTIONS OF, AND TO ASSIST IN CARRYING OUT THE PURPOSES OF PROJECT FOR PRIDE IN LIVING, INC., A MINNESOTA NONPROFIT CORPORATION.
Activities or mission (Part I)
PPL INVESTMENT CORPORATION'S MISSION IS TO SUPPORT THE MISSION OF PROJECT FOR PRIDE IN LIVING, INC.
-
TO SUPPORT PPL AND FACILITATE THE FINANCING FOR THE CONSTRUCTION OF A NEW AND EXPANDED EMPLOYMENT TRAINING CENTER USING NEW MARKET TAX CREDITS.
Expenses $1,744 · Revenue $96,590
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Mike LafaveMIKE LAFAVE
PRESIDENT
- Total calculated
- $192,186
- From this org
- $0
- From related orgs
- $187,391
- Other
- $4,795
- Hours/week
- 1 + 40 related
Schedule J breakdown matched by us
- Base
- $0 + $187,391 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0 + $3,748 related
- Nontaxable benefits
- $0 + $1,047 related
- Filer's total
- $0 + $192,186 related
-
Bill McKinneyBILL MCKINNEY
SECRETARY
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Jack Katzmark Resigned 322JACK KATZMARK RESIGNED 322
TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
Walter Rocky RockensteinWALTER ROCKY ROCKENSTEIN
DIRECTOR
- 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. 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 · Approval by the board or compensation committee
- 7 · Other non-fixed payments
Answered no
- 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
- 8 · Paid under the initial-contract exception
The filer's explanations (Part III)
- PART I, LINE 7
- MIKE LAFAVE RECEIVED A BONUS PAYMENT FOR PERFORMANCE IN 2022 THAT WAS INCLUDED IN TAXABLE COMPENSATION AND WAS REPORTED ON THE 2022 FORM W-2. THE NON-FIXED BONUS PAYMENT WAS DETERMINED BY THE HR COMMITTEE OF THE BOARD OF DIRECTORS WITHIN THE PARAMETERS OF THE EMPLOYMENT AGREEMENT BETWEEN MIKE AND THE ORGANIZATION.
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.
-
PROJECT FOR PRIDE IN LIVING INC
501(C)(3) · AFFORDABLE RENTAL HOUSING · MN
Directly controlled by PROJECT FOR PRIDE IN LIVING INC
-
501(C)(3) · AFFORDABLE RENTAL HOUSING · MN
Directly controlled by PROJECT FOR PRIDE IN LIVING INC
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.
-
ANISHINABE BII GII WIIN HOUSING LIMITED PARTNERSHIP
AFFORDABLE RENTAL HOUSING · MN
-
CAMDEN APARTMENTS MINNEAPOLIS LIMITED PARTNERSHIP
AFFORDABLE RENTAL HOUSING · MN
-
CANADIAN TERRACE LIMITED PARTNERSHIP
AFFORDABLE RENTAL HOUSING · MN
-
CRESTVIEW COMMUNITIES LIMITED PARTNERSHIP
AFFORDABLE RENTAL HOUSING · MN
-
JOSEPH SELVAGGIO INIATIVE LIMITED PARTNERSHIP
AFFORDABLE RENTAL HOUSING · MN
-
PPL-BASS LAKE COURT LIMITED PARTNERSHIP
AFFORDABLE RENTAL HOUSING · MN
-
PPL LOUISIANA COURT LIMITED PARTNERSHIP
AFFORDABLE RENTAL HOUSING · MN
-
PPL WEST SEVENTH HOUSING LIMITED PARTNERSHIP
AFFORDABLE RENTAL HOUSING · MN
-
SOUTHSIDE COMMUNITY LIMITED PARTNERSHIP
AFFORDABLE RENTAL HOUSING · MN
-
VAN CLEVE APARTMENTS EAST LIMITED PARTNERSHIP
AFFORDABLE RENTAL HOUSING · MN
-
VAN CLEVE APARTMENTS WEST LIMITED PARTNERSHIP
AFFORDABLE RENTAL HOUSING · MN
-
NORTH SIDE COMMUNITY LIMITED PARTNERSHIP
AFFORDABLE RENTAL HOUSING · MN
-
TOUCHSTONE COMMUNITY LIMITED PARTNERSHIP
AFFORDABLE RENTAL HOUSING · MN
-
HAMLINE STATION FAMILY HOUSING LIMITED PARTNERSHIP
AFFORDABLE RENTAL HOUSING · MN
-
HAMLINE STATION LIMITED PARTNERSHIP
AFFORDABLE RENTAL HOUSING · MN
-
PPL DECC LIMITED PARTNERSHIP
AFFORDABLE RENTAL HOUSING · MN
-
HAWTHORNE ECOVILLAGE LIMITED PARTNERSHIP
AFFORDABLE RENTAL HOUSING · MN
-
OXFORD VILLAGE LIMITED PARTNERSHIP
AFFORDABLE RENTAL HOUSING · MN
-
PPL YOUTHLINK LIMITED PARTNERSHIP
AFFORDABLE RENTAL HOUSING · MN
-
PPL ADYC LIMITED PARTNERSHIP
AFFORDABLE RENTAL HOUSING · MN
-
PPL BUNGE LIMITED PARTNERSHIP
AFFORDABLE RENTAL HOUSING · MN
-
ANISHINABE III SUPPORTIVE HOUSING LP
AFFORDABLE RENTAL HOUSING · MN
-
NELLIE FRANCIS COURT LP
AFFORDABLE RENTAL HOUSING · MN
-
EMMA NORTON PPL LP
AFFORDABLE RENTAL HOUSING · MN
Related corporations and trusts
Part IV: related organizations taxable as a corporation or trust.
-
PPL SERVICE CORPORATION
C · AFFORDABLE HOUSING · MN
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 28 August 2023
- IRS schema version
- 2022v5.0
- Source object
- 202342489349301689
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