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← PPL INVESTMENT CORPORATION

Form 990 for tax year 2023

Filed by PPL INVESTMENT CORPORATION.

Totals

Total revenue
$96,590
Total expenses
$145
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$96,590
Investment income
$0
Other revenue
$0
Total assets, end of year
$5,056,579
Total liabilities, end of year
$3,248
Net assets or fund balances, end of year
$5,053,331
Program services expenses (Part IX)
$145
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$145

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.

  • 2a · Program service revenue: LOAN INTEREST

    total $96,590 · related or exempt $96,590

Functional expenses

Part IX, the statement of functional expenses.

  • 20 · Interest

    total $145 · program services $145

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $301,891 · end of year $205,396

  • 7 · Other notes and loans receivable

    beginning of year $4,837,549 · end of year $4,837,549

  • 9 · Prepaid expenses and deferred charges

    end of year $1,624

  • 15 · Other assets

    beginning of year $12,010 · end of year $12,010

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,624 · end of year $3,248

  • 27 · Net assets without donor restrictions

    beginning of year $5,149,826 · end of year $5,053,331

Mission and programs · 2023

Mission

PPL INVESTMENT CORPORATION IS ORGANIZED AND WILL OPERATE EXCLUSIVELY FOR CHARITABLE AND EDUCATIONAL PURPOSES, AND EXCLUSIVELY FOR THE BENEFIT OF, TO SUPPORT THE FUNCTIONS OF, AND TO ASSIST IN CARRYING OUT THE PURPOSES OF PROJECT FOR PRIDE IN LIVING, INC., A MINNESOTA NONPROFIT CORPORATION.

Activities or mission (Part I)

PPL INVESTMENT CORPORATION'S MISSION IS TO SUPPORT THE MISSION OF PROJECT FOR PRIDE IN LIVING, INC.

  • TO SUPPORT PPL AND FACILITATE THE FINANCING FOR THE CONSTRUCTION OF A NEW AND EXPANDED EMPLOYMENT TRAINING CENTER USING NEW MARKET TAX CREDITS.

    Expenses $145 · Revenue $96,590

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

Listed in Part VII

  • MIKE LAFAVE

    PRESIDENT THROUGH OCTOBER 2023

    Total calculated
    $176,520
    From this org
    $172,069
    From related orgs
    $0
    Other
    $4,451
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $172,069
    Bonus
    $0
    Other
    $0
    Deferred
    $3,578
    Nontaxable benefits
    $873
    Filer's total
    $176,520

  • LESLIE SEABERG

    DIRECTOR

    Total calculated
    $111,394
    From this org
    $98,906
    From related orgs
    $0
    Other
    $12,488
    Hours/week
    1 + 40 related

  • WALTER ROCKY ROCKENSTEIN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    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

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.

  • PROJECT FOR PRIDE IN LIVING INC

    501(C)(3) · AFFORDABLE RENTAL HOUSING · MN

    Directly controlled by PROJECT FOR PRIDE IN LIVING INC

  • PPL PROPERTIES

    501(C)(3) · AFFORDABLE RENTAL HOUSING · MN

    Directly controlled by PROJECT FOR PRIDE IN LIVING INC

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.

Related partnerships

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

Related corporations and trusts

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

Provenance

Return type
form_990
Tax year
2023
Filed
23 September 2024
IRS schema version
2023v5.1
Source object
202402699349300330

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