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Nonprofiteer
← WEBSTER DEVELOPMENT FUND

Form 990 for tax year 2022

Filed by WEBSTER DEVELOPMENT FUND.

Totals

Total revenue
$0
Total expenses
$50,814
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$0
Other revenue
$0
Total assets, end of year
$1,208,231
Total liabilities, end of year
$1,099,785
Net assets or fund balances, end of year
$108,446
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 0.0% 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.

  • 8c · Net income from fundraising events

    total $0

Functional expenses

Part IX, the statement of functional expenses.

  • 24a · Other expenses: Forgivable Notes

    total $50,646

  • 24b · Other expenses: Bank Charges

    total $168

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $10,771 · end of year $14,209

  • 15 · Other assets

    beginning of year $1,339,081 · end of year $1,194,022

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,159,437 · end of year $1,075,130

  • 23 · Secured mortgages and notes payable

    beginning of year $31,155 · end of year $24,655

  • 27 · Net assets without donor restrictions

    beginning of year $159,260 · end of year $108,446

Mission and programs · 2022

Mission

To process mortgages for the Fuller Center of Webster, Inc. for low income families

Activities or mission (Part I)

Solicit and purchase mortgages for the Fuller Center of Webster Inc A not for profit organization that provides affordable housing

  • Collected funds to contribute to the Fuller Center of Webster, Inc. To build low income housing and manage mortgages of the housing for low income families including forgiving a portion of the mortgage attributed to donations.

As filed on the 2022 return.

Listed in Part VII

  • Charles L Payne

    President

    Total calculated
    $0
    Hours/week
    2

  • Dennis McMullan

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Marettia Payne

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Derek E Melancon

    Vol Executive Director

    Total calculated
    $0
    Hours/week
    10

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.

Provenance

Return type
form_990
Tax year
2022
Filed
10 September 2023
IRS schema version
2022v5.0
Source object
202322539349300402

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