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← DONNELLY COLLEGE REAL ESTATE HOLDINGS INC

Form 990 for tax year 2022

Filed by DONNELLY COLLEGE REAL ESTATE HOLDINGS INC.

What the amendment changed

Compared with the return it replaced , filed 15 April 2024. matched by us Only the Part I totals and the names listed in Part VII are compared. We relate returns by organization, tax year and form, and order them by each return's own timestamp; the filer's own "amended return" checkbox is a separate fact.

Total revenue
$1,100,066 changed to $810,068
Total expenses
$1,486,977 changed to $1,430,479
Program service revenue
$1,100,000 changed to $810,000
Investment income
$66 changed to $68
Total assets, end of year
$16,695,786 changed to $16,405,786
Total liabilities, end of year
$16,545,278 changed to $16,488,777
Net assets or fund balances, end of year
$150,508 changed to -$82,991
Program services expenses
$1,475,938 changed to $1,419,439
Management and general expenses
$11,039 changed to $11,040
Program service expenses (Part III)
$1,475,938 changed to $1,419,439

Totals

Total revenue
$810,068
Total expenses
$1,430,479
Contributions and grants received
$0
Grants paid
$570,000
Program service revenue
$810,000
Investment income
$68
Other revenue
$0
Total assets, end of year
$16,405,786
Total liabilities, end of year
$16,488,777
Net assets or fund balances, end of year
-$82,991
Program services expenses (Part IX)
$1,419,439
Management and general expenses
$11,040
Fundraising expenses
$0
Program service expenses (Part III)
$1,419,439

Program services were 99.2% 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: Rental Income

    total $810,000 · related or exempt $810,000

  • 3 · Investment income

    total $68 · excluded $68

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

    total $0

  • 5 · Royalties

    total $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

    total $0

  • 7d · Net gain or loss

    total $0

  • 8a · Fundraising events: gross income

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $570,000 · program services $570,000

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $0

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $0

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $0

  • 10 · Payroll taxes

    total $0

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $0

  • 11c · Fees: accounting

    total $11,040 · management and general $11,040

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $0

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $0

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $0

  • 17 · Travel

    total $0

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $0

  • 20 · Interest

    total $281,740 · program services $281,740

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $520,199 · program services $520,199

  • 23 · Insurance

    total $0

  • 24a · Other expenses: NMTC FEES

    total $47,500 · program services $47,500

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $61,021 · end of year $61,988

  • 2 · Savings and temporary cash investments

    beginning of year $231,000 · end of year $211,067

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $49 · 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 $0 · end of year $0

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

    $17,480,370

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

    $1,347,639

  • 10c · Land, buildings and equipment, net

    beginning of year $16,652,929 · end of year $16,132,731

  • 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 $16,406,743 · end of year $16,488,777

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $0 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $538,256 · end of year -$82,991

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $0

Mission and programs · 2022

Mission

NONE

Activities or mission (Part I)

A REAL ESTATE HOLDING COMPANY FOR DONNELLY COLLEGE

  • QUALIFIED ACTIVE LOW-INCOME COMMUNITY BUSINESS (QALICB) HOLDING THE LAND AND BUILDING DEVELOPMENT PROJECT FOR DONNELLY COLLEGE.

    Expenses $1,419,439 · Grants $570,000 · Revenue $810,000

As filed on the 2022 return.

Listed in Part VII

  • Swetland Stuart

    TREASURER

    Total calculated
    $123,647
    From this org
    $0
    From related orgs
    $93,645
    Other
    $30,002
    Hours/week
    1 + 40 related

  • Stoothoff Lisa

    PRESIDENT

    Total calculated
    $99,102
    From this org
    $0
    From related orgs
    $95,290
    Other
    $3,812
    Hours/week
    1 + 40 related

  • Buckley Emily

    SECRETARY

    Total calculated
    $90,583
    From this org
    $0
    From related orgs
    $74,686
    Other
    $15,897
    Hours/week
    1 + 40 related

  • Graham Bob

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Cruz Rachel

    MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Zuluaga Nestor

    MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 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.

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
2022
Filed
15 April 2024
IRS schema version
2022v5.0
Source object
202423479349301427

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