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Nonprofiteer
← WEBSTER DEVELOPMENT FUND

Form 990 for tax year 2024

Filed by WEBSTER DEVELOPMENT FUND.

Totals

Total revenue
$0
Total expenses
$43,842
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$0
Other revenue
$0
Total assets, end of year
$1,069,071
Total liabilities, end of year
$1,000,002
Net assets or fund balances, end of year
$69,069
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 0.0% 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.

  • 8c · Net income from fundraising events

    total $0

Functional expenses

Part IX, the statement of functional expenses.

  • 24a · Other expenses: Forgivable notes

    total $43,842

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $12,901 · end of year $8,643

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

    $145,227

  • 10c · Land, buildings and equipment, net

    end of year $145,227

  • 15 · Other assets

    beginning of year $1,133,388 · end of year $915,201

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,033,378 · end of year $1,000,002

  • 27 · Net assets without donor restrictions

    beginning of year $112,911 · end of year $69,069

Mission and programs · 2024

Mission

To process mortgages for the Fuller Center of Webster, Inc. for low income families

Activities or mission (Part I)

Solicit and purchase mortgages for the Fuller Center of Webster Inc

  • Collected funds to contribute to the Fuller Center of Webster, Inc. To build low income housing and manage mortgages of the housing for low income families including forgiving a portion of the mortgage

As filed on the 2024 return.

Listed in Part VII

  • Marettia Payne

    Director

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Charles Payne

    President

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Dennis McMullan

    Treasurer

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Derek Melancon

    Exec Dir

    Total calculated
    $0
    Hours/week
    10

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • Fuller Center of Webster

    Construction of homes for low income families · LA · income $274,876 · assets $1,015,023

    Directly controlled by Fuller Center of Webster

Provenance

Return type
form_990
Tax year
2024
Filed
7 March 2025
IRS schema version
2024v5.0
Source object
202520669349301652

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