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Nonprofiteer
← COMMUNITY BETTERMENT ORGANIZATION

Form 990 for tax year 2023

Filed by COMMUNITY BETTERMENT ORGANIZATION.

Totals

Total revenue
$102,055
Total expenses
$237,791
Contributions and grants received
$65,507
Grants paid
$90,622
Program service revenue
$15,600
Investment income
$20,948
Other revenue
$0
Total assets, end of year
$2,670,338
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$2,670,338
Program services expenses (Part IX)
$230,735
Management and general expenses
$7,056
Fundraising expenses
$0
Program service expenses (Part III)
$230,735

Program services were 97.0% 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.

  • 1f · All other contributions, gifts and grants

    $65,507

  • 2a · Program service revenue: RENTAL INCOME

    total $15,600 · related or exempt $15,600

  • 3 · Investment income

    total $20,993 · excluded $20,993

  • 7a · Gross sales of assets other than inventory

    securities $515,000

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

    securities $515,045

  • 7c · Gain or loss

    securities -$45

  • 7d · Net gain or loss

    total -$45 · excluded -$45

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $90,622 · program services $90,622

  • 11b · Fees: legal

    total $7,056 · management and general $7,056

  • 22 · Depreciation, depletion and amortization

    total $81,202 · program services $81,202

  • 24a · Other expenses: PROPERTY TAXES

    total $42,585 · program services $42,585

  • 24b · Other expenses: INSURANCE

    total $12,105 · program services $12,105

  • 24c · Other expenses: UTILITIES

    total $3,009 · program services $3,009

  • 24d · Other expenses: PROPERTY REPAIRS

    total $1,212 · program services $1,212

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $524,884 · end of year $470,943

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

    $3,555,760

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

    $1,356,365

  • 10c · Land, buildings and equipment, net

    beginning of year $2,280,597 · end of year $2,199,395

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $2,805,481 · end of year $2,670,338

Mission and programs · 2023

Mission

THE COMMUNITY BETTERMENT ORGANIZATION ("CBO") WAS FORMED TO SUPPORT CENTRAL COLLEGE, THE CITY OF PELLA, AND PELLA REGIONAL HEALTH CENTER, TO ENGAGE IN ACTIVITIES THAT SUCH ORGANIZATIONS WOULD STRIVE TO ENGAGE IN THEMSELVES WERE IT NOT FOR CBO, INCLUDING WITHOUT LIMITATION, PROVIDING AMENITIES THAT MAKE A SMALL TOWN A MORE DESIRABLE PLACE TO LIVE AND CONDUCT BUSINESS.

  • THE CBO'S PROGRAM SERVICE ACCOMPLISHMENTS FOR THE YEAR 2023 INVOLVE IN SUPPORT OF THE CITY OF PELLA, THE OPERATION OF A BUILDING (THE "BUILDING") THAT WAS CONSTRUCTED IN THE YEARS 2000 AND 2001 AS PART OF A LARGE DOWNTOWN BLOCK DEVELOPMENT PROJECT (THE "DOWNTOWN PROJECT"). THE DOWNTOWN PROJECT BY THE CITY OF PELLA WAS DEVELOPED TO ATTRACT BUSINESSES AND PEOPLE TO DO BUSINESS AND LIVE IN THE TOWN, AND INCLUDES A HOTEL, BUSINESS SPACE, RESTAURANT SPACE, AND ENTERTAINMENT ATTRACTIONS TO IMPROVE THE CITY OF PELLA. THE CBO'S CONTRIBUTION TO THE DOWNTOWN PROJECT INVOLVED THE CONSTRUCTION AND ONGOING MAINTENANCE AND OPERATION OF THE BUILDING ON BEHALF OF THE CITY. THE BUILDING INCLUDES A THREE-SCREEN MOVIE THEATER AND A RESTAURANT. IN 2012, CBO DETERMINED THAT NEW PROJECTION EQUIPMENT WAS NEEDED FOR THE MOVIE THEATER TO UPGRADE TO DIGITAL CAPABILITIES. THIS COST OF THE NEW EQUIPMENT WAS $199,077. CBO RECEIVED $64,000 IN GRANTS FROM VARIOUS ORGANIZATIONS AND OBTAINED A $111,500 LOAN FROM GENLINK LLC IN 2012 TO PAY FOR THE COSTS OF THIS UPGRADE. THE INSTALLATION OF THIS NEW EQUIPMENT CONTINUES TO MEET THE EXEMPT PURPOSE OF THE ORGANIZATION IN PROVIDING ENHANCEMENTS TO COMMUNITY AMENITIES. DEPRECIATION LISTED ON PART IX, LINE 22 RELATED TO THE DEPRECIATION OF THE BUILDING $49,954PROPERTY TAXES PAID FOR THE BUILDING OF $42,585INSURANCE PAID FOR THE BUILDING OF $6,713REPAIRS AND SERVICE PAID FOR THE BUILDING $1,212

    Expenses $99,924 · Revenue $15,600

  • CBO SUPPORTED CENTRAL COLLEGE DURING 2023 BY PAYING FOR THE AMOUNT OF LOSSES INCURRED BY THE MOVIE THEATER. THIS INCLUDED PAYING FOR SOUND REPAIRS FOR THE MOVIE THEATER.

    Expenses $40,622 · Grants $40,622

  • CBO RECEIVED THREE PARCELS OF REAL ESATE IN DECEMBER 2021 AS A DONATION FROM THE PELLA COMMUNITY DAY CARE CENTER. THE PARCELS INCLUDE A BUILDING THAT WAS USED AS A DAY CARE CENTER, A SMALL HOUSE AND ADJACENT LOT. THE CBO BOARD IS CONSIDERING THE POTENTIAL USE OF THE FORMER DAY CARE CENTER BY THE CITY OF PELLA. DEPRECIATION LISTED ON PART IX, LINE 22 RELATED TO THE DEPRECIATION OF THE BUILDING $31,248UTILITIES PAID FOR THE BUILDING OF $3,009INSURANCE PAID FOR THE BUILDING OF $5,932

    Expenses $40,189

  • GRANT TO THE CITY OF PELLA

    Expenses $50,000 · Grants $50,000

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

Listed in Part VII

  • Adam Farver

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Alison Van Wyngarden

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Fred Kreykes

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mike Nardini

    DIRECTOR

    Total calculated
    $185,167
    From this org
    $0
    From related orgs
    $185,167
    Other
    $0
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    $0 + $185,167 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $185,167 related

  • Mark Putnam

    DIRECTOR

    Total calculated
    $279,236
    From this org
    $0
    From related orgs
    $279,236
    Other
    $0
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    $0 + $279,236 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $279,236 related

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

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

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
3 November 2024
IRS schema version
2023v5.1
Source object
202413129349301121

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