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Nonprofiteer
← ADVANTIX DEVELOPMENT CORPORATION

Form 990 for tax year 2022

Filed by ADVANTIX DEVELOPMENT CORPORATION.

Totals

Total revenue
$5,194,127
Total expenses
$3,393,165
Contributions and grants received
$61,624
Grants paid
$0
Program service revenue
$2,146,815
Investment income
$1,148,503
Other revenue
$1,837,185
Total assets, end of year
$26,637,427
Total liabilities, end of year
$9,912,889
Net assets or fund balances, end of year
$16,724,538
Program services expenses (Part IX)
$3,393,165
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$3,393,165

Program services were 100.0% 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)

    $52,093

  • 1f · All other contributions, gifts and grants

    $9,531

  • 2a · Program service revenue: Development Fee Income

    total $1,289,335 · related or exempt $1,289,335

  • 2b · Program service revenue: Management Fee

    total $501,859 · related or exempt $501,859

  • 2c · Program service revenue: Tenant Rental Income

    total $355,621 · related or exempt $355,621

  • 3 · Investment income

    total $151,219 · excluded $151,219

  • 7a · Gross sales of assets other than inventory

    other assets $997,284

  • 7b · Less cost or other basis and sales expenses

    other assets $0

  • 7c · Gain or loss

    other assets $997,284

  • 7d · Net gain or loss

    total $997,284 · excluded $997,284

  • 10a · Gross sales of inventory

    $17,997,836

  • 10b · Cost of goods sold

    $16,160,651

  • 10c · Net income from sales of inventory

    total $1,837,185 · related or exempt $1,837,185

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $3,500 · program services $3,500

  • 7 · Other salaries and wages

    total $890,776 · program services $890,776

  • 8 · Pension plan contributions

    total $12,863 · program services $12,863

  • 9 · Other employee benefits

    total $178,702 · program services $178,702

  • 10 · Payroll taxes

    total $9,869 · program services $9,869

  • 11b · Fees: legal

    total $24,162 · program services $24,162

  • 11c · Fees: accounting

    total $62,997 · program services $62,997

  • 11g · Fees: other

    total $618,760 · program services $618,760

  • 12 · Advertising and promotion

    total $14,023 · program services $14,023

  • 13 · Office expenses

    total $129,265 · program services $129,265

  • 14 · Information technology

    total $62,445 · program services $62,445

  • 16 · Occupancy

    total $186,863 · program services $186,863

  • 17 · Travel

    total $55,826 · program services $55,826

  • 19 · Conferences, conventions and meetings

    total $36,647 · program services $36,647

  • 20 · Interest

    total $486 · program services $486

  • 22 · Depreciation, depletion and amortization

    total $426,556 · program services $426,556

  • 23 · Insurance

    total $262,222 · program services $262,222

  • 24a · Other expenses: Rental Maintenance

    total $332,090 · program services $332,090

  • 24b · Other expenses: Other Expenses

    total $78,528 · program services $78,528

  • 24c · Other expenses: Taxes and Licenses

    total $5,442 · program services $5,442

  • 24d · Other expenses: Bad Debt Expense

    total $1,143 · program services $1,143

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,376,387 · end of year $9,624,720

  • 4 · Accounts receivable

    beginning of year $3,913,994 · end of year $5,167,162

  • 7 · Other notes and loans receivable

    beginning of year $5,976,250 · end of year $8,117,750

  • 9 · Prepaid expenses and deferred charges

    beginning of year $909,943 · end of year $932,980

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

    $5,074,496

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

    $3,282,557

  • 10c · Land, buildings and equipment, net

    beginning of year $3,105,934 · end of year $1,791,939

  • 12 · Investments: other securities

    beginning of year $374,222 · end of year $574,288

  • 15 · Other assets

    beginning of year $8,123 · end of year $428,588

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,584,130 · end of year $9,900,139

  • 19 · Deferred revenue

    beginning of year $21,250 · end of year $12,750

  • 27 · Net assets without donor restrictions

    beginning of year $3,190,749 · end of year $2,214,642

  • 28 · Net assets with donor restrictions

    beginning of year $10,868,724 · end of year $14,509,896

Mission and programs · 2022

Mission

To own, operate, purchase, sell and manage real estate and affordable housing.

  • Managing non federal low income housing.

    Expenses $3,393,165 · Revenue $3,984,000

As filed on the 2022 return.

Listed in Part VII

  • David G Hatfield

    Chairman

    Total calculated
    $1,200
    From this org
    $1,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Glenda B Hampton

    Commissioner

    Total calculated
    $1,325
    From this org
    $1,325
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Mildred Thacker

    Secretary

    Total calculated
    $1,100
    From this org
    $1,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Richard Engbers

    Commissioner

    Total calculated
    $1,100
    From this org
    $1,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Daphne J Robinson

    Vice Chairman

    Total calculated
    $1,200
    From this org
    $1,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Sabino Humbane

    Commissioner

    Total calculated
    $700
    From this org
    $700
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Dianna McGuire

    Commissioner

    Total calculated
    $1,200
    From this org
    $1,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Thomas Gibbs

    Manager

    Total calculated
    $103,116
    From this org
    $103,116
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

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.

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.

  • The Housing Authority of the City of Evansville Indiana

    Affordable Housing · IN

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.

  • Evansville Rad Four LLC

    Affordable Housing · IN · income -$93 · assets -$372

    Directly controlled by Advantix Development Corporation

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • 34 East LP

    Related · Affordable Housing · IN

    Directly controlled by Advantix Development Corporation

  • CSSL LP

    Related · Affordable Housing · IN · 0.01% owned · share of income -$15 · share of assets -$429

    Directly controlled by Corydon SSL LLC

  • EHA RAD I LP

    Related · Affordable Housing · IN · 0.01% owned · share of income -$512,211 · share of assets -$1,061,936

    Directly controlled by Evansville Rad One LLC

  • EHA RAD II LP

    Related · Affordable Housing · IN · 0.01% owned · share of income -$53 · share of assets -$246,110

    Directly controlled by Evansville Rad One LLC

  • EHA RAD IV LP

    Related · Affordable Housing · IN · 0.01% owned · share of income -$93 · share of assets -$372

    Directly controlled by Advantix Development Corporation

  • Erie Pointe LP

    Related · Affordable Housing · IN · 0.01% owned · share of income -$1 · share of assets $82,576

    Directly controlled by Erie Evansville LLC

  • Evansville Townhomes II LP

    Related · Affordable Housing · IN · 0.01% owned · share of income -$134 · share of assets -$89

    Directly controlled by ET 2 Evansville LLC

  • Evansville Townhomes III LP

    Related · Affordable Housing · IN

    Directly controlled by Advantix Development Corporation

  • Evansville Townhomes LP

    Related · Affordable Housing · IN · 0.01% owned · share of income -$22 · share of assets $146,906

    Directly controlled by ET Evansville LLC

  • KHA RAD I LP

    Related · Affordable Housing · IN · 0.01% owned · share of income -$486 · share of assets -$373

    Directly controlled by KHA RAD One LLC

  • River View Vincennes LP

    Related · Affordable Housing · IN · 0.01% owned · share of income -$31 · share of assets $396,683

    Directly controlled by RVV LLC

  • Trailside Commons LP

    Related · Affordable Housing · IN · 0.01% owned · share of income -$26 · share of assets -$222

    Directly controlled by SP Kokomo LLC

  • Trailside Townhomes LP

    Related · Affordable Housing · IN · 0.01% owned · share of income -$4 · share of assets $104,707

    Directly controlled by Trailside Townhomes GP LLC

  • Vision 1505 LP

    Related · Affordable Housing · IN · 0.01% owned · share of income -$23 · share of assets -$186

    Directly controlled by ADC V1505 Inc

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • 34E Marion LLC

    C · Affordable Housing · IN · 100% owned · share of assets $100

    Directly controlled by Advantix Development Corporation

  • Corydon SSL LLC

    C · Affordable Housing · IN · 100% owned

    Directly controlled by Advantix Development Corporation

  • Erie Evansville LLC

    C · Affordable Housing · IN · 100% owned · share of assets $82,319

    Directly controlled by Advantix Development Corporation

  • ET 2 Evansville LLC

    C · Affordable Housing · IN · 100% owned

    Directly controlled by Advantix Development Corporation

  • ET 3 Evansville LLC

    C · Affordable Housing · IN · 100% owned · share of assets $100

    Directly controlled by Advantix Development Corporation

  • ET Evansville LLC

    C · Affordable Housing · IN · 100% owned · share of assets $146,906

    Directly controlled by Advantix Development Corporation

  • Evansville RAD One LLC

    C · Affordable Housing · IN · 100% owned · share of income $3

    Directly controlled by Advantix Development Corporation

  • KHA RAD One LLC

    C · Affordable Housing · IN · 100% owned · share of income $2

    Directly controlled by Advantix Development Corporation

  • RVV LLC

    C · Affordable Housing · IN · 100% owned · share of assets $396,683

    Directly controlled by Advantix Development Corporation

  • SP Kokomo LLC

    C · Affordable Housing · IN · 100% owned

    Directly controlled by Advantix Development Corporation

  • Trailside Townhomes GP LLC

    C · Affordable Housing · IN · 100% owned · share of assets $104,707

    Directly controlled by Advantix Development Corporation

  • ADC V1505 Inc

    C · Affordable Housing · IN · 49% owned

Provenance

Return type
form_990
Tax year
2022
Filed
14 November 2023
IRS schema version
2022v5.0
Source object
202333199349306868

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