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← LIVE THE DREAM DEVELOPMENT INC

Form 990 for tax year 2023

Filed by LIVE THE DREAM DEVELOPMENT INC.

Totals

Total revenue
$4,416,551
Total expenses
$1,747,470
Contributions and grants received
$3,428,152
Grants paid
$0
Program service revenue
$832,476
Investment income
$55,842
Other revenue
$100,081
Total assets, end of year
$11,551,136
Total liabilities, end of year
$7,847,105
Net assets or fund balances, end of year
$3,704,031
Program services expenses (Part IX)
$1,694,217
Management and general expenses
$53,253
Fundraising expenses
$0
Program service expenses (Part III)
$1,694,217

Program services were 97.0% 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.

  • 1e · Government grants (contributions)

    $3,273,237

  • 1f · All other contributions, gifts and grants

    $154,915

  • 2a · Program service revenue: HOME OWNERSHIP- SEE SCHEDULEO

    total $658,666 · related or exempt $658,666

  • 2b · Program service revenue: RENTAL-TARGETED POPULATION

    total $169,513 · related or exempt $169,513

  • 2c · Program service revenue: HOME OWNERSHIP COUNSELING

    total $4,297 · related or exempt $4,297

  • 3 · Investment income

    total $55,842 · related or exempt $55,842

  • 11a · Other revenue: DEBT FORGIVENESS

    total $100,000 · excluded $100,000

  • 11b · Other revenue: OTHER REVENUE

    total $81 · related or exempt $81

  • 11e · Other revenue, total

    $100,081

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $6,751 · program services $6,751

  • 9 · Other employee benefits

    total $514 · program services $514

  • 11c · Fees: accounting

    total $41,125 · management and general $41,125

  • 16 · Occupancy

    total $404 · program services $404

  • 20 · Interest

    total $80,565 · program services $80,565

  • 22 · Depreciation, depletion and amortization

    total $115,496 · program services $115,496

  • 23 · Insurance

    total $9,333 · program services $9,333

  • 24a · Other expenses: HOME OWNERSHIP- SCH O

    total $899,539 · program services $899,539

  • 24b · Other expenses: CONTRACT COSTS

    total $548,281 · program services $547,389 · management and general $892

  • 24c · Other expenses: MISC

    total $31,941 · program services $20,746 · management and general $11,195

  • 24d · Other expenses: GENERAL EXPENSES

    total $8,444 · program services $8,444

  • 24e · All other expenses

    total $5,077 · program services $5,036 · management and general $41

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,052,345 · end of year $774,497

  • 4 · Accounts receivable

    beginning of year $268,366 · end of year $886,101

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

    $5,646,479

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

    $498,177

  • 10c · Land, buildings and equipment, net

    beginning of year $2,676,623 · end of year $5,148,302

  • 13 · Investments: program-related

    beginning of year $4,855,844 · end of year $4,742,236

  • 19 · Deferred revenue

    beginning of year $1,000,000 · end of year $1,377,409

  • 23 · Secured mortgages and notes payable

    beginning of year $6,431,857 · end of year $6,081,985

  • 25 · Other liabilities

    beginning of year $386,371 · end of year $387,711

  • 27 · Net assets without donor restrictions

    beginning of year $1,034,950 · end of year $3,704,031

Mission and programs · 2023

Mission

TO PROMOTE ECONOMIC DEVELOPMENT AND ENHANCE AFFORDABLE HOUSING IN THE COMMUNITY OF BOWLING GREEN AND WARREN COUNTY, KENTUCKY AND TO OTHERWISE IMPROVE THE QUALITY OF LIFE IN THE AREAS FOR TARGETED LOW-INCOME RESIDENTS IN THE AREAS.

  • TO PROMOTE ECONOMIC DEVELOPMENT AND ENHANCE AFFORDABLE HOUSING IN THE COMMUNITY OF BOWLING GREEN AND WARREN COUNTY, KENTUCKY AND TO OTHERWISE IMPROVE THE QUALITY OF LIFE IN THE AREA. SERVICES INCLUDE BUYING AND REHABILITATING HOMES TO SELL TO THEIR TARGETED POPULATION GROUPS UNDER THE FEDERAL HUD GUIDELINES, AS WELL AS, TEACHING HOME OWNERSHIP COURSES TO LOW TO MODERATE INCOME FAMILIES TO EDUCATE THEM ON THE HOME BUYING PROCESS.

    Expenses $1,694,217 · Revenue $832,476

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • John Paul Blair

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Mary Cohron

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Brad Howard

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Catherine Miller

    EXECUTIVE OF

    Total calculated
    $0
    Hours/week
    1

  • Lawrence White

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Abraham Williams

    SECRETARY/TR

    Total calculated
    $0
    Hours/week
    1

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.

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.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • FORT WEBB ELDERLY HOUSING LLLP

    RELATED · PART VII · KY

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • FORT WEBB DEVELOPMENT CORPORATION

    C CORP · PART VII · KY · 100% owned · share of income -$13 · share of assets $4,063,223

Provenance

Return type
form_990
Tax year
2023
Filed
15 November 2024
IRS schema version
2023v5.0
Source object
202423199349304407

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