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Nonprofiteer
← KALAMAZOO COMMUNITY FOUNDATION REAL ESTATE HOLDINGS INC

Form 990 for tax year 2023

Filed by KALAMAZOO COMMUNITY FOUNDATION REAL ESTATE HOLDINGS INC.

Totals

Total revenue
-$35,283
Total expenses
$496,008
Contributions and grants received
$40,000
Grants paid
$0
Program service revenue
$210,000
Investment income
-$285,283
Other revenue
$0
Total assets, end of year
$4,460,862
Total liabilities, end of year
$30,583
Net assets or fund balances, end of year
$4,430,279
Program services expenses (Part IX)
$477,909
Management and general expenses
$18,099
Fundraising expenses
$0
Program service expenses (Part III)
$477,909

Program services were 96.4% 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.

  • 1d · Related organizations

    $40,000

  • 2a · Program service revenue: AFFILIATED RENTAL INCOME

    total $210,000 · related or exempt $210,000

  • 3 · Investment income

    total $26,173 · excluded $26,173

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

    securities $311,456

  • 7c · Gain or loss

    securities -$311,456

  • 7d · Net gain or loss

    total -$311,456 · excluded -$311,456

Functional expenses

Part IX, the statement of functional expenses.

  • 11b · Fees: legal

    total $300 · management and general $300

  • 11c · Fees: accounting

    total $5,000 · management and general $5,000

  • 11g · Fees: other

    total $780 · management and general $780

  • 13 · Office expenses

    total $8,821 · management and general $8,821

  • 16 · Occupancy

    total $213,237 · program services $213,237

  • 17 · Travel

    total $200 · management and general $200

  • 22 · Depreciation, depletion and amortization

    total $101,074 · program services $101,074

  • 23 · Insurance

    total $25,235 · program services $25,235

  • 24a · Other expenses: REPAIRS & MAINTENANCE

    total $119,699 · program services $119,699

  • 24b · Other expenses: PROPERTY TAXES

    total $18,664 · program services $18,664

  • 24c · Other expenses: MISCELLANEOUS

    total $2,998 · management and general $2,998

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $582,219 · end of year $1,316,786

  • 4 · Accounts receivable

    beginning of year $8,228 · end of year $3,438

  • 7 · Other notes and loans receivable

    beginning of year $872,437 · end of year $872,437

  • 9 · Prepaid expenses and deferred charges

    beginning of year $16,146 · end of year $18,957

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

    $3,238,372

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

    $996,241

  • 10c · Land, buildings and equipment, net

    beginning of year $2,343,205 · end of year $2,242,131

  • 12 · Investments: other securities

    beginning of year $1,148,616 · end of year $7,113

  • 17 · Accounts payable and accrued expenses

    beginning of year $9,281 · end of year $30,583

  • 27 · Net assets without donor restrictions

    beginning of year $4,961,570 · end of year $4,430,279

Mission and programs · 2023

Mission

SUPPORTING ORGANIZATION TO KALAMAZOO COMMUNITY FOUNDATION

  • KALAMAZOO COMMUNITY FOUNDATION REAL ESTATE HOLDINGS, INC. LEASES OFFICE SPACE TO KALAMAZOO COMMUNITY FOUNDATION, A RELATED ORGANIZATION.

    Expenses $477,909 · Revenue $210,000

  • ACCEPTING, HOLDING AND SELLING OF REAL ESTATE. NO ACTIVITY IN 2023, BUT STILL EXISTS.

  • EXPENSES RELATED TO HOLDING REAL ESTATE CURRENTLY BEING USED BY AND MANAGED BY THE TILLERS, (A 501(C)(3) ORGANIZATION), SUPPORTED BY THE KALAMAZOO COMMUNITY FOUNDATION.

As filed on the 2023 return.

Listed in Part VII

  • GRACE LUBWAMA

    CEO/PRESIDENT

    Total calculated
    $299,730
    From this org
    $0
    From related orgs
    $299,730
    Other
    $0
    Hours/week
    1 + 45 related

    Schedule J breakdown matched by us

    Base
    $0 + $299,730 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $299,730 related

  • VON WASHINGTON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1 + 3 related

  • JORGE GONZALEZ

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1

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

None.

Answered no

  • 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)

PART I, LINE 3
THE ORGANIZATION'S PRESIDENT/CHAIR, CAROLYN PICKETT-ERWAY, IS COMPENSATED BY A RELATED PARTY WHO USES A COMPENSATION COMMITTEE, INDEPENDENT COMPENSATION CONSULTANT, COMPENSATION SURVEY OR STUDY, AND APPROVAL BY THE COMPENSATION COMMITTEE TO DETERMINE HER COMPENSATION.

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
16 October 2024
IRS schema version
2023v5.1
Source object
202413109349300936

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