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Nonprofiteer
← SWTC REAL ESTATE FOUNDATION INC

Form 990 for tax year 2022

Filed by SWTC REAL ESTATE FOUNDATION INC.

Totals

Total revenue
$554,102
Total expenses
$417,492
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$648,194
Investment income
-$94,092
Other revenue
$0
Total assets, end of year
$3,582,082
Total liabilities, end of year
$2,037,810
Net assets or fund balances, end of year
$1,544,272
Program services expenses (Part IX)
$417,418
Management and general expenses
$74
Fundraising expenses
$0
Program service expenses (Part III)
$417,418

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: STUDENT HOUSING RENTS

    total $646,730 · related or exempt $646,730

  • 2b · Program service revenue: LAUNDRY REVENUE

    total $1,464 · related or exempt $1,464

  • 3 · Investment income

    total $1,478 · excluded $1,478

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

    other assets $95,570

  • 7c · Gain or loss

    other assets -$95,570

  • 7d · Net gain or loss

    total -$95,570 · excluded -$95,570

Functional expenses

Part IX, the statement of functional expenses.

  • 11c · Fees: accounting

    total $3,279 · program services $3,279

  • 11g · Fees: other

    total $27,031 · program services $27,031

  • 13 · Office expenses

    total $3,674 · program services $3,600 · management and general $74

  • 16 · Occupancy

    total $90,527 · program services $90,527

  • 20 · Interest

    total $71,986 · program services $71,986

  • 22 · Depreciation, depletion and amortization

    total $106,697 · program services $106,697

  • 23 · Insurance

    total $16,504 · program services $16,504

  • 24a · Other expenses: REPAIRS AND MAINTENANCE

    total $93,582 · program services $93,582

  • 24b · Other expenses: BAD DEBT EXPENSE

    total $4,212 · program services $4,212

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    end of year $573,807

  • 2 · Savings and temporary cash investments

    beginning of year $397,461

  • 4 · Accounts receivable

    beginning of year $45,053 · end of year $59,331

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

    $4,024,653

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

    $1,075,709

  • 10c · Land, buildings and equipment, net

    beginning of year $3,060,017 · end of year $2,948,944

  • 17 · Accounts payable and accrued expenses

    beginning of year $4,465 · end of year $52,482

  • 23 · Secured mortgages and notes payable

    beginning of year $2,089,071 · end of year $1,985,328

  • 25 · Other liabilities

    beginning of year $1,333 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $1,407,662 · end of year $1,544,272

Mission and programs · 2022

Mission

ACCEPT, ACQUIRE, LEASE, HOLD, DEVELOP, OPERATE, MANAGE, SELL, TRANSFER, AND OTHERWISE DEAL IN REAL ESTATE FOR USE AND ENJOYMENT BY, IN FURTHERANCE OF THE PURPOSES OF, AND FOR THE EXCLUSIVE BENEFIT OF THE SOUTHWEST WISCONSIN TECHNICAL COLLEGE FOUNDATION AND SOUTHWEST WISCONSIN TECHNICAL COLLEGE.

Activities or mission (Part I)

ACCEPT, ACQUIRE, LEASE, HOLD, DEVELOP, OPERATE, MANAGE, SELL, TRANSFER, AND DEAL IN REAL ESTATE.

  • THE ORGANIZATION OWNS AND OPERATES, FOR THE BENEFIT OF THE SOUTHWEST WISCONSIN TECHNICAL COLLEGE FOUNDATION AND SOUTHWEST WISCONSIN TECHNICAL COLLEGE, ON-CAMPUS HOUSING UNITS TO PROVIDE AFFORDABLE HOUSING OPTIONS FOR STUDENTS OF THE COLLEGE. THE HOUSING UNITS HAVE ACAPACITY OF 148 TENANTS.

    Expenses $417,418 · Revenue $648,194

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Dennis Cooley

    EXECUTIVE DIRECTOR

    Total calculated
    $160,770
    From this org
    $138,979
    From related orgs
    $0
    Other
    $21,791
    Hours/week
    5 + 40 related

    Schedule J breakdown matched by us

    Base
    $138,979
    Bonus
    $0
    Other
    $0
    Deferred
    $19,224
    Nontaxable benefits
    $2,567
    Filer's total
    $160,770

  • Ben Wood

    PRESIDENT

    Total calculated
    $0
    Hours/week
    0.5

  • Mindy Johnson

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    0.5

  • Kevin Raisbeck

    SECRETARY/TREASURER

    Total calculated
    $0
    Hours/week
    0.5

  • Brad Biddick

    VOLUNTEER DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Daniel Glass

    VOLUNTEER DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Justin Smith

    VOLUNTEER DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Ryan Rands

    VOLUNTEER DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

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. 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

The filer's explanations (Part III)

SCH J PART II AND FORM 990, PART VII, SEC A, LINE 5
THE CHIEF MANAGEMENT OFFICIAL IS COMPENSATED BY SOUTHWEST WISCONSIN TECHNICAL COLLEGE, AN UNRELATED ENTITY, FOR THEIR SERVICE TO SWTC REAL ESTATE FOUNDATION INC. DENNIS COOLEY (EXECUTIVE DIRECTOR, OFFICER) WAS PAID $138,979 IN WAGES, $19,224 IN DEFERRED COMPENSATION, AND $2,567 IN OTHER COMPENSATION, TOTAL OF $160,770 BY THE UNRELATED ENTITY.

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.

  • SOUTHWEST WISCONSIN TECHNICAL COLLEGE FOUNDATION INC

    501(C)(3) · PROVIDE SCHOLARSHIPS AND ASSISTANCE TO STUDENTS AND FACULTY · WI

Provenance

Return type
form_990
Tax year
2022
Filed
15 May 2024
IRS schema version
2022v5.0
Source object
202431369349307083

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