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Nonprofiteer
← MONADNOCK ECONOMIC DEVELOPMENT CORPORATION

Form 990 for tax year 2022

Filed by MONADNOCK ECONOMIC DEVELOPMENT CORPORATION.

Totals

Total revenue
$1,706,004
Total expenses
$2,209,306
Contributions and grants received
$148,027
Grants paid
$0
Program service revenue
$1,702,239
Investment income
-$155,846
Other revenue
$11,584
Total assets, end of year
$41,455,854
Total liabilities, end of year
$43,936,758
Net assets or fund balances, end of year
-$2,480,904
Program services expenses (Part IX)
$1,999,536
Management and general expenses
$209,770
Fundraising expenses
$0
Program service expenses (Part III)
$1,999,536

Program services were 90.5% 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.

  • 1f · All other contributions, gifts and grants

    $148,027

  • 2a · Program service revenue: RENTS

    total $1,555,821 · related or exempt $1,555,821

  • 2b · Program service revenue: INCOME FROM LOANS

    total $138,918 · related or exempt $138,918

  • 2c · Program service revenue: APPLICATION FEES

    total $5,000 · related or exempt $5,000

  • 2d · Program service revenue: CONSULTING INCOME

    total $2,500 · related or exempt $2,500

  • 7a · Gross sales of assets other than inventory

    other assets $525,000

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

    other assets $680,846

  • 7c · Gain or loss

    other assets -$155,846

  • 7d · Net gain or loss

    total -$155,846 · excluded -$155,846

  • 11a · Other revenue: INCOME FROM DEPOSITS

    total $9,950 · related or exempt $9,950

  • 11b · Other revenue: OTHER INCOME

    total $1,634 · related or exempt $1,634

  • 11e · Other revenue, total

    $11,584

Functional expenses

Part IX, the statement of functional expenses.

  • 6 · Compensation of disqualified persons

    total $97,428 · management and general $97,428

  • 10 · Payroll taxes

    total $8,197 · management and general $8,197

  • 11b · Fees: legal

    total $4,274 · program services $718 · management and general $3,556

  • 11c · Fees: accounting

    total $55,085 · management and general $55,085

  • 11g · Fees: other

    total $91,995 · program services $91,995

  • 12 · Advertising and promotion

    total $7,959 · management and general $7,959

  • 13 · Office expenses

    total $1,544 · management and general $1,544

  • 16 · Occupancy

    total $5,269 · program services $5,269

  • 19 · Conferences, conventions and meetings

    total $1,140 · management and general $1,140

  • 20 · Interest

    total $680,923 · program services $680,923

  • 22 · Depreciation, depletion and amortization

    total $1,217,713 · program services $1,215,726 · management and general $1,987

  • 23 · Insurance

    total $22,786 · management and general $22,786

  • 24a · Other expenses: STATE TAXES

    total $5,471 · management and general $5,471

  • 24b · Other expenses: CONDO FEES

    total $4,785 · program services $4,785

  • 24c · Other expenses: REPAIRS AND MAINTENANCE

    total $1,743 · management and general $1,743

  • 24d · Other expenses: TELEPHONE

    total $1,061 · management and general $1,061

  • 24e · All other expenses

    total $1,933 · program services $120 · management and general $1,813

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,700,189 · end of year $1,845,491

  • 7 · Other notes and loans receivable

    beginning of year $9,858,397 · end of year $9,701,968

  • 9 · Prepaid expenses and deferred charges

    beginning of year $5,947 · end of year $4,484

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

    $34,064,817

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

    $6,318,385

  • 10c · Land, buildings and equipment, net

    beginning of year $29,561,550 · end of year $27,746,432

  • 15 · Other assets

    beginning of year $1,761,032 · end of year $2,157,479

  • 17 · Accounts payable and accrued expenses

    beginning of year $164,721 · end of year $149,306

  • 19 · Deferred revenue

    beginning of year $55,146 · end of year $55,146

  • 23 · Secured mortgages and notes payable

    beginning of year $44,419,408 · end of year $43,500,174

  • 25 · Other liabilities

    beginning of year $225,442 · end of year $232,132

  • 27 · Net assets without donor restrictions

    beginning of year -$3,068,602 · end of year -$3,566,077

  • 28 · Net assets with donor restrictions

    beginning of year $1,091,000 · end of year $1,085,173

Mission and programs · 2022

Mission

PROMOTION OF BUSINESS DEVELOPMENT AND RELOCATIONS TO THE MONADNOCK REGION OF NEW HAMPSHIRE.

  • PROMOTING OF BUSINESS DEVELOPMENT AND RELOCATIONS TO THE MONADNOCK REGION OF NEW HAMPSHIRE.

    Expenses $1,999,536 · Revenue $1,713,823

As filed on the 2022 return.

Listed in Part VII

  • Amanda Littleton

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • George Hansel

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Juliana Bergeron

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Rik Ekstrom

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Robert Edwards

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Stephen Bragdon

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Steve Silverstein

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Todd Horner

    PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • Dan Osborn

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Andrew Richardson

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Cody Morrison

    EXECUTIVE DIRECTOR

    Total calculated
    $96,350
    From this org
    $90,500
    From related orgs
    $0
    Other
    $5,850
    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.

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.

  • RAILROAD LAND DEVELOPMENT LLC

    DEVELOPMENT, CONSTRUCTION · NH

  • 33 WINTER STREET LLC

    DEVELOPMENT, CONSTRUCTION · NH

  • HEBERTON ADVANCEMENT LLC

    DEVELOPMENT, CONSTRUCTION · NH

Provenance

Return type
form_990
Tax year
2022
Filed
9 May 2024
IRS schema version
2022v5.0
Source object
202421309349303312

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