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← GCC REAL ESTATE HOLDINGS INC

Form 990 for tax year 2022

Filed by GCC REAL ESTATE HOLDINGS INC.

Totals

Total revenue
$651,036
Total expenses
$729,195
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$651,002
Investment income
$34
Other revenue
$0
Total assets, end of year
$20,092,800
Total liabilities, end of year
$12,761,727
Net assets or fund balances, end of year
$7,331,073
Program services expenses (Part IX)
$729,195
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$729,195

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: RENTAL INCOME

    total $651,002 · related or exempt $651,002

  • 3 · Investment income

    total $34 · excluded $34

Functional expenses

Part IX, the statement of functional expenses.

  • 16 · Occupancy

    total $307,964 · program services $307,964

  • 22 · Depreciation, depletion and amortization

    total $421,231 · program services $421,231

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $60,000 · end of year $85,128

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

    $19,863,633

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

    $3,334,615

  • 10c · Land, buildings and equipment, net

    beginning of year $16,950,249 · end of year $16,529,018

  • 14 · Intangible assets

    beginning of year $360,729 · end of year $348,788

  • 15 · Other assets

    beginning of year $2,799,981 · end of year $3,129,866

  • 17 · Accounts payable and accrued expenses

    beginning of year $7,727 · end of year $7,727

  • 23 · Secured mortgages and notes payable

    beginning of year $12,754,000 · end of year $12,754,000

  • 27 · Net assets without donor restrictions

    beginning of year $7,409,232 · end of year $7,331,073

Mission and programs · 2022

Mission

THE ORGANIZATION WAS INCORPORATED IN SEPTEMBER 2017 AS AN AFFILIATE OF IRWIN A. AND ROBERT D. GOODMAN COMMUNITY CENTER, INC. TO DEVELOP, OWN, CONSTRUCT, AND LEASE THE BUILDINGS KNOWN AS THE BRASSWORKS BUILDING AND THE IRONWORKS BUILDING.

  • TO DEVELOP, OWN, CONSTRUCT, AND LEASE THE BUILDINGS KNOWN AS THE BRASSWORKS BUILDING AND THE IRONWORKS BUILDING.

    Expenses $729,195 · Revenue $651,002

As filed on the 2022 return.

Listed in Part VII

  • JONATHAN BECK

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • LETESHA NELSON

    EXECUTIVE DIRECTOR

    Total calculated
    $150,919
    From this org
    $0
    From related orgs
    $138,890
    Other
    $12,029
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $138,890 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $12,029 related
    Filer's total
    $0 + $150,919 related

  • MAYA ZAHN-RHINE

    TREASURER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • PAUL HOFFMAN

    VICE PRESIDENT & SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • DEWAYNE POWELL

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 40 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

The filer's explanations (Part III)

PART I, LINE 3
THE IRWIN A. AND ROBERT D. GOODMAN COMMUNITY FOUNDATION'S GOVERNING BOARD (RELATED ORGANIZATION) ANNUALLY APPROVES THE COMPENSATION OF THE EXECUTIVE DIRECTOR BY OFFICIAL VOTE AND CONDUCTS PERFORMANCE EVALUATIONS THAT FACTOR INTO THE DETERMINATION OF ANY INCREASES IN COMPENSATION. THE GOVERNING BODY REVIEWS A NONPROFIT COMPENSATION SURVEY PUBLISHED BY THE UNITED WAY OF DANE COUNTY, WI, DISCUSSES COMPENSATION CONSIDERATIONS WITH FUNDING SOURCES AND PARTNERS, AND REVIEWS THE COMPENSATION FOR COMPARABLE POSITIONS REPORTED ON THE FORM 990 OF SIMILAR AGENCIES TO DETERMINE THE APPROPRIATE ANNUAL COMPENSATION TO BE PAID TO THE EXECUTIVE DIRECTOR.

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.

Provenance

Return type
form_990
Tax year
2022
Filed
2 May 2024
IRS schema version
2022v5.0
Source object
202441239349301304

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