Totals
- Total revenue
- $7,643,232
- Total expenses
- $798,477
- Contributions and grants received
- $7,287,260
- Grants paid
- $0
- Program service revenue
- $348,046
- Investment income
- $2,896
- Other revenue
- $5,030
- Total assets, end of year
- $10,928,494
- Total liabilities, end of year
- $2,700,659
- Net assets or fund balances, end of year
- $8,227,835
- Program services expenses (Part IX)
- $736,978
- Management and general expenses
- $61,499
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $736,978
Program services were 92.3% 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)
$7,000,000
-
1f · All other contributions, gifts and grants
$287,260
-
2a · Program service revenue: Program Income
total $86,529 · related or exempt $86,529
-
2b · Program service revenue: Drakes Creek Income
total $261,517 · related or exempt $261,517
-
3 · Investment income
total $2,896 · related or exempt $2,896
-
11a · Other revenue: Unrealized Gain on Investments
total $5,030 · related or exempt $5,030
-
11e · Other revenue, total
$5,030
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $0
-
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 $63,220 · program services $31,610 · management and general $31,610
-
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 $1,118 · program services $559 · management and general $559
-
10 · Payroll taxes
total $4,836 · program services $2,418 · management and general $2,418
-
11a · Fees: management
total $19,832 · program services $19,832
-
11b · Fees: legal
total $12,690 · program services $12,665 · management and general $25
-
11c · Fees: accounting
total $6,400 · management and general $6,400
-
11d · Fees: lobbying
total $0
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $46,250 · program services $46,250
-
12 · Advertising and promotion
total $14,301 · program services $14,301
-
13 · Office expenses
total $11,140 · management and general $11,140
-
14 · Information technology
total $0
-
15 · Royalties
total $0
-
16 · Occupancy
total $6,000 · program services $3,000 · management and general $3,000
-
17 · Travel
total $2,132 · program services $2,132
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $3,413 · program services $1,295 · management and general $2,118
-
20 · Interest
total $99,269 · program services $97,278 · management and general $1,991
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $62,132 · program services $62,132
-
23 · Insurance
total $41,419 · program services $40,504 · management and general $915
-
24a · Other expenses: Payroll Service
total $2,645 · program services $1,322 · management and general $1,323
-
24b · Other expenses: Property Taxes
total $78,669 · program services $78,669
-
24c · Other expenses: Drakes Creek Closing Cost
total $148,286 · program services $148,286
-
24d · Other expenses: Property Management Maintenance
total $137,851 · program services $137,851
-
24e · All other expenses
total $36,874 · program services $36,874
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $227,995 · end of year $467,353
-
3 · Pledges and grants receivable
beginning of year $334,822 · end of year $41,853
-
7 · Other notes and loans receivable
beginning of year $613,941 · end of year $613,941
-
10a · Land, buildings and equipment: cost or other basis
$10,099,152
-
10b · Land, buildings and equipment: accumulated depreciation
$362,021
-
10c · Land, buildings and equipment, net
beginning of year $293,762 · end of year $9,737,131
-
15 · Other assets
beginning of year $1,678 · end of year $68,216
-
17 · Accounts payable and accrued expenses
beginning of year $25,673 · end of year $25,207
-
21 · Escrow or custodial account liability
end of year $3,422
-
23 · Secured mortgages and notes payable
beginning of year $14,945 · end of year $2,631,880
-
24 · Unsecured notes and loans payable
beginning of year $48,500 · end of year $40,150
-
27 · Net assets without donor restrictions
beginning of year $857,197 · end of year $7,701,952
-
28 · Net assets with donor restrictions
beginning of year $525,883 · end of year $525,883
Mission and programs · 2024
Mission
We connect vulnerable individuals to opportunities and services so they can overcome adversity and experience an improved quality of life and participate in the revitalization of their community.
-
To Further Affordable Housing Development and Management Services
Expenses $681,688
-
To Further Workforce Development Initiatives Via Education, Counseling Financing
Expenses $55,290
As filed on the 2024 return.
Listed in Part VII
-
Carlina B Bell
Executive Director
- Total calculated
- $63,220
- From this org
- $63,220
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Audrey Buchanan
Director
- Total calculated
- $0
- Hours/week
- 2
-
Thomas Tate Jr
Director
- Total calculated
- $0
- Hours/week
- 2
-
Sherri Carter
Director
- Total calculated
- $0
- Hours/week
- 2
-
Stephan Gaffney Jr
Director
- Total calculated
- $0
- Hours/week
- 2
-
Lisa Buchanan
Director
- Total calculated
- $0
- Hours/week
- 2
-
Joseph C Hutts
Director
- Total calculated
- $0
- Hours/week
- 2
-
Robert Welhoelter
Director
- Total calculated
- $0
- Hours/week
- 2
-
Loretta Weeden
Vice Chairperson
- Total calculated
- $0
- Hours/week
- 2
-
James Stephens
Chairperson
- Total calculated
- $0
- Hours/week
- 2
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.
-
Drakes Creek LEC LLC
Co-op · TN · income $7,526,588 · assets $9,045,623
Directly controlled by William F Buchanan CDC
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 21 August 2025
- IRS schema version
- 2024v5.2
- Source object
- 202542339349301409
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