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Nonprofiteer
← PARSONS AVENUE REDEVELOPMENT CORPORATION

Form 990 for tax year 2022

Filed by PARSONS AVENUE REDEVELOPMENT CORPORATION.

Totals

Total revenue
$325,933
Total expenses
$137,972
Contributions and grants received
$332,126
Grants paid
$0
Program service revenue
$0
Investment income
-$16,463
Other revenue
$10,270
Total assets, end of year
$235,009
Total liabilities, end of year
$8,490
Net assets or fund balances, end of year
$226,519
Program services expenses (Part IX)
$129,862
Management and general expenses
$4,941
Fundraising expenses
$3,169
Program service expenses (Part III)
$129,862

Program services were 94.1% 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.

  • 1e · Government grants (contributions)

    $276,187

  • 1f · All other contributions, gifts and grants

    $55,939

  • 6a · Gross rents

    real property $10,270

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $10,270

  • 6d · Net rental income or loss

    total $10,270 · related or exempt $10,270

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

    other assets $16,463

  • 7c · Gain or loss

    other assets -$16,463

  • 7d · Net gain or loss

    total -$16,463 · excluded -$16,463

Functional expenses

Part IX, the statement of functional expenses.

  • 11g · Fees: other

    total $71,692 · program services $71,692

  • 12 · Advertising and promotion

    total $378 · management and general $378

  • 13 · Office expenses

    total $1,430 · management and general $1,430

  • 16 · Occupancy

    total $4,104 · program services $4,104

  • 20 · Interest

    total $1,360 · management and general $1,360

  • 22 · Depreciation, depletion and amortization

    total $196 · program services $196

  • 23 · Insurance

    total $3,374 · program services $3,374

  • 24a · Other expenses: REPAIRS AND MAINTENANCE

    total $27,550 · program services $27,550

  • 24b · Other expenses: PROJECT EXPENSES

    total $13,000 · program services $13,000

  • 24c · Other expenses: ENVIRONMENTAL PHASE ONE

    total $7,190 · program services $7,190

  • 24d · Other expenses: FUNDRAISING EXPENSES

    total $3,169 · fundraising $3,169

  • 24e · All other expenses

    total $4,529 · program services $2,756 · management and general $1,773

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $23,661 · end of year $113,822

  • 4 · Accounts receivable

    beginning of year $957

  • 9 · Prepaid expenses and deferred charges

    beginning of year $6,235 · end of year $6,187

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

    $100,784

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

    $784

  • 10c · Land, buildings and equipment, net

    beginning of year $116,659 · end of year $100,000

  • 15 · Other assets

    beginning of year $15,000 · end of year $15,000

  • 17 · Accounts payable and accrued expenses

    beginning of year $388 · end of year $8,490

  • 23 · Secured mortgages and notes payable

    beginning of year $123,566 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $38,558 · end of year $226,519

Mission and programs · 2022

Mission

TO REVITALIZE PARSONS AVENUE IN COLUMBUS IN ORDER TO ENHANCE THE QUALITY OF LIFE FOR RESIDENTS IN THE ADJACENT NEIGHBORHOODS AND CREATE A STABLE BUSNIESS ENVIRONMENT.

  • RENOVATION OF COMMERCIAL PROPERTIES AT 921-923 PARSONS AVENUE.

    Expenses $129,862 · Revenue $10,270

As filed on the 2022 return.

Listed in Part VII

  • JASON REECE

    CHAIR, DIRECTOR

    Total calculated
    $0
    Hours/week
    3

  • MILLICENT HURTT

    TREASURER, DIRECTOR

    Total calculated
    $0
    Hours/week
    3

  • TAIMUR CHAUDHRI

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • LOGAN DAWSON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • CARLA FOUNTAINE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • LETHERRON GRIFFIN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • JORDAN HENDERSON

    DIRECTOR BEGIN 7/2022

    Total calculated
    $0
    Hours/week
    2

  • BRICE KASEE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • AMANDA REYNOLDS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • MICHAEL WHITMAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • MICHAEL PREMO

    EXECUTIVE DIRECTOR/DIRECTOR TO 7/22

    Total calculated
    $0
    Hours/week
    2

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.

Provenance

Return type
form_990
Tax year
2022
Filed
14 November 2023
IRS schema version
2022v5.0
Source object
202303189349309815

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