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Nonprofiteer
← GREATER LAFAYETTE COMMERCE COMMUNITY & ECONOMIC DEVELOPMENT F

Form 990 for tax year 2023

Filed by GREATER LAFAYETTE COMMERCE COMMUNITY & ECONOMIC DEVELOPMENT F.

Totals

Total revenue
$6,226,858
Total expenses
$6,057,210
Contributions and grants received
$6,226,858
Grants paid
$0
Program service revenue
$0
Investment income
$0
Other revenue
$0
Total assets, end of year
$2,726,021
Total liabilities, end of year
$2,556,373
Net assets or fund balances, end of year
$169,648
Program services expenses (Part IX)
$5,991,967
Management and general expenses
$65,243
Fundraising expenses
$0
Program service expenses (Part III)
$5,991,967

Program services were 98.9% 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)

    $6,226,858

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $29,501 · program services $23,601 · management and general $5,900

  • 7 · Other salaries and wages

    total $152,723 · program services $122,178 · management and general $30,545

  • 8 · Pension plan contributions

    total $7,042 · program services $5,634 · management and general $1,408

  • 9 · Other employee benefits

    total $11,568 · program services $9,254 · management and general $2,314

  • 10 · Payroll taxes

    total $13,477 · program services $10,782 · management and general $2,695

  • 11b · Fees: legal

    total $19,946 · program services $15,957 · management and general $3,989

  • 11c · Fees: accounting

    total $24,855 · program services $19,884 · management and general $4,971

  • 11g · Fees: other

    total $5,219,810 · program services $5,216,100 · management and general $3,710

  • 12 · Advertising and promotion

    total $708 · program services $708

  • 13 · Office expenses

    total $284,864 · program services $284,864

  • 16 · Occupancy

    total $35,932 · program services $28,745 · management and general $7,187

  • 24a · Other expenses: PROFESSIONAL DEVELOPMENT

    total $244,180 · program services $244,180

  • 24b · Other expenses: MISCELLANEOUS EXPENSE

    total $12,600 · program services $10,080 · management and general $2,520

  • 24c · Other expenses: BANK SERVICE FEE

    total $4 · management and general $4

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $52,522 · end of year $169,855

  • 4 · Accounts receivable

    beginning of year $594,157 · end of year $2,556,166

  • 17 · Accounts payable and accrued expenses

    beginning of year $646,679 · end of year $2,556,373

  • 28 · Net assets with donor restrictions

    end of year $169,648

Mission and programs · 2023

Mission

THE FOUNDATION IS ORGANIZED AND OPERATED EXCLUSIVELY TO CONDUCT, SUPPORT, ENCOURAGE, AND ASSIST THE COMMON GOOD AND WELFARE OF THE CITIZENS OF LAFAYETTE, WEST LAFAYETTE, TIPPECANOE COUNTY AND THE WEST CENTRAL REGION OF INDIANA IT SERVES. IN ADDITION, 1) THE FOUNDATION OPERATES AS A SUPPORTING ORGANIZATION FOR THE SUPPORT AND BENEFIT OF LAFAYETTE-WEST LAFAYETTE DEVELOPMENT CORPORATION (D/B/A GREATER LAFAYETTE COMMERCE) TO SOLICIT FUNDS TO SUPPORT ECONOMIC AND COMMUNITY DEVELOPMENT PROGRAMS AND PROJECTS OF GREATER LAFAYETTE COMMERCE, 2)TO SOLICIT CHARITABLE CONTRIBUTIONS AND OTHER FUNDS FOR AND TO PROVIDE OTHER BENEFITS FOR THE SUPPORT AND BENEFIT OF AND IN CONJUNCTION WITH ECONOMIC AND COMMUNITY DEVELOPMENT PROGRAMS AND PROJECTS OF GREATER LAFAYETTE COMMERCE, AND 3)TO COOPERATE, COLLABORATE AND WORK WITH OTHER ORGANIZATIONS INCLUDING, BUT NOT LIMITED TO, GREATER LAFAYETTE COMMERCE TO PURSUE AND ACHIEVE THE PURPOSES SET OUT ABOVE.

  • SEE ORGANIZATION'S MISSION.

    Expenses $5,991,967

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

Listed in Part VII

  • Scott Walker

    PRESIDENT &

    Total calculated
    $247,465
    From this org
    $0
    From related orgs
    $201,944
    Other
    $45,521
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    not reported + $201,944 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported + $12,423 related
    Nontaxable benefits
    not reported + $33,098 related
    Filer's total
    not reported + $247,465 related

  • Tom Murtaugh

    CHAIR

    Total calculated
    $0
    Hours/week
    0.5

  • Rachel Hazaray

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    0.5

  • Robert Smith

    TREASURER

    Total calculated
    $0
    Hours/week
    0.5

  • Jim Olds

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.5

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

  • 1a · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 3 · Written employment contract
  • 3 · Approval by the board or compensation committee

Answered no

  • 2 · Substantiation required before reimbursing expenses
  • 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
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

SCHEDULE J, PART III
THE RELATED ORGANIZATION, GREATER LAFAYETTE COMMERCE PAYS THE ANNUAL DUES OF 4,545 FOR THE CEO'S MEMBERSHIP IN THE COUNTRY CLUBS.

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.

Provenance

Return type
form_990
Tax year
2023
Filed
8 November 2024
IRS schema version
2023v5.0
Source object
202433139349303908

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