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← 32ND ST LEGACY FUND

Form 990 for tax year 2023

Filed by 32ND ST LEGACY FUND.

Totals

Total revenue
$165,273
Total expenses
$166,314
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$133,515
Investment income
$3,122
Other revenue
$28,636
Total assets, end of year
$3,078,779
Total liabilities, end of year
$2,442,073
Net assets or fund balances, end of year
$636,706
Program services expenses (Part IX)
$160,161
Management and general expenses
$6,153
Fundraising expenses
$0
Program service expenses (Part III)
$160,161

Program services were 96.3% 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: RENT FROM RELATED CHUR

    total $133,515 · related or exempt $133,515

  • 3 · Investment income

    total $3,122 · excluded $3,122

  • 6a · Gross rents

    real property $275,580

  • 6b · Less rental expenses

    real property $246,944

  • 6c · Rental income or loss

    real property $28,636

  • 6d · Net rental income or loss

    total $28,636 · unrelated business $28,636

Functional expenses

Part IX, the statement of functional expenses.

  • 11c · Fees: accounting

    total $600 · management and general $600

  • 13 · Office expenses

    total $769 · program services $769

  • 16 · Occupancy

    total $36,508 · program services $36,508

  • 20 · Interest

    total $65,153 · program services $64,563 · management and general $590

  • 22 · Depreciation, depletion and amortization

    total $48,260 · program services $48,260

  • 23 · Insurance

    total $10,061 · program services $10,061

  • 24a · Other expenses: FEDERAL UBIT

    total $4,963 · management and general $4,963

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $65,252 · end of year $62,086

  • 2 · Savings and temporary cash investments

    beginning of year $167,295 · end of year $112,557

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,684

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

    $3,638,340

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

    $757,805

  • 10c · Land, buildings and equipment, net

    beginning of year $2,946,873 · end of year $2,880,535

  • 15 · Other assets

    beginning of year $32,680 · end of year $23,601

  • 19 · Deferred revenue

    beginning of year $11,268 · end of year $9,089

  • 23 · Secured mortgages and notes payable

    beginning of year $2,505,338 · end of year $2,375,773

  • 25 · Other liabilities

    beginning of year $59,431 · end of year $57,211

  • 27 · Net assets without donor restrictions

    beginning of year $637,747 · end of year $636,706

Mission and programs · 2023

Mission

TO SUPPORT THE ACTIVITIES OF GENESIS, AN EVANGELICAL COVENANT CHURCH, INC. OF PHOENIX, AZ.

Activities or mission (Part I)

TO SUPPORT THE ACTIVITIES OF GENESIS, AN EVANGELICAL COVENANT CHURCH IN PHOENIX, AZ

  • OWN AND MANAGE PROPERTY FOR THE BENEFIT OF GENESIS, AN EVANGELICAL COVENANT CHURCH, INC.

    Expenses $160,161 · Revenue $133,515

As filed on the 2023 return.

Listed in Part VII

  • Brad Kettlelkamp

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jake Jacobsen

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Scott Andersen

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Joseph Groenwald

    SECRETARY UNTIL 11-2023

    Total calculated
    $0
    Hours/week
    2

  • Craig Barnes

    PRESIDENT

    Total calculated
    $0
    Hours/week
    5

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.

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.

  • THE ROCK AT 32ND ST LLC

    PROPERTY HOLDING ON BEHALF OF GENESIS, AN EVANGELICAL COVENANT CHURCH, INC · AZ · income $166,431 · assets $3,078,779

    Directly controlled by 32ND ST LEGACY FUND

Provenance

Return type
form_990
Tax year
2023
Filed
10 June 2024
IRS schema version
2023v5.0
Source object
202401709349301105

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