Form 990 for tax year 2024

Filed by LIVE THE DREAM DEVELOPMENT INC.

Totals

Total revenue: $5,640,389
Total expenses: $709,465
Contributions and grants received: $4,975,995
Grants paid: $0
Program service revenue: $544,120
Investment income: $20,274
Other revenue: $100,000
Total assets, end of year: $15,009,202
Total liabilities, end of year: $7,211,549
Net assets or fund balances, end of year: $7,797,653
Program services expenses (Part IX): $680,816
Management and general expenses: $28,649
Fundraising expenses: $0
Program service expenses (Part III): $680,816

Program services were 96.0% 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.

1e · Government grants (contributions)

$4,445,605
1f · All other contributions, gifts and grants

$530,390
2a · Program service revenue: HOME OWNERSHIP- SEE SCHEDULEO

total $273,091 · related or exempt $273,091
2b · Program service revenue: RENTAL-TARGETED POPULATION

total $266,029 · related or exempt $266,029
2c · Program service revenue: HOME OWNERSHIP COUNSELING

total $5,000 · related or exempt $5,000
3 · Investment income

total $20,274 · excluded $20,274
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 $10,405 · program services $10,405
9 · Other employee benefits

total $671 · program services $671
11c · Fees: accounting

total $19,500 · management and general $19,500
16 · Occupancy

total $617 · program services $617
20 · Interest

total $80,354 · program services $80,354
22 · Depreciation, depletion and amortization

total $206,040 · program services $206,040
23 · Insurance

total $12,151 · program services $12,151
24a · Other expenses: HOME OWNERSHIP- SCH O

total $217,630 · program services $217,630
24b · Other expenses: CONTRACT COSTS

total $143,636 · program services $140,472 · management and general $3,164
24c · Other expenses: GENERAL EXPENSES

total $9,705 · program services $3,753 · management and general $5,952
24d · Other expenses: FORGIVABLE LOAN AMORT

total $4,900 · program services $4,900
24e · All other expenses

total $3,856 · program services $3,823 · management and general $33

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $774,499 · end of year $334,066
4 · Accounts receivable

beginning of year $48,797 · end of year $39,600
10a · Land, buildings and equipment: cost or other basis

$10,727,978
10b · Land, buildings and equipment: accumulated depreciation

$704,216
10c · Land, buildings and equipment, net

beginning of year $5,654,679 · end of year $10,023,762
13 · Investments: program-related

beginning of year $4,742,236 · end of year $4,611,774
17 · Accounts payable and accrued expenses

beginning of year $506,377 · end of year $131,068
19 · Deferred revenue

beginning of year $1,377,409 · end of year $242,592
23 · Secured mortgages and notes payable

beginning of year $6,081,985 · end of year $6,374,532
25 · Other liabilities

beginning of year $387,711 · end of year $463,357
27 · Net assets without donor restrictions

beginning of year $2,866,729 · end of year $7,797,653

Mission and programs · 2024

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 $680,816 · Revenue $544,120

As filed on the 2024 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
Catherine MillerCATHERINE MILLER

EXECUTIVE OF

Total calculated

$0

Hours/week

40
Lawrence WhiteLAWRENCE WHITE

BOARD MEMBER

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

Provenance

Return type: form_990
Tax year: 2024
Filed: 15 November 2025
IRS schema version: 2024v5.0
Source object: 202513219349319786

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