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Nonprofiteer
← WOODWARD DEVELOPMENT CORPORATION

Form 990 for tax year 2023

Filed by WOODWARD DEVELOPMENT CORPORATION.

Totals

Total revenue
$244,564
Total expenses
$711,272
Contributions and grants received
$206,830
Grants paid
$0
Program service revenue
$37,709
Investment income
$25
Other revenue
$0
Total assets, end of year
$17,828,511
Total liabilities, end of year
$26,727
Net assets or fund balances, end of year
$17,801,784
Program services expenses (Part IX)
$297,378
Management and general expenses
$413,894
Fundraising expenses
$0
Program service expenses (Part III)
$297,378

Program services were 41.8% 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.

  • 1f · All other contributions, gifts and grants

    $206,830

  • 2a · Program service revenue: FLOWTHROUGH INCOME

    total $37,709 · related or exempt $37,709

  • 3 · Investment income

    total $25 · related or exempt $25

Functional expenses

Part IX, the statement of functional expenses.

  • 22 · Depreciation, depletion and amortization

    total $297,378 · program services $297,378

  • 24a · Other expenses: BAD DEBT EXPENSE

    total $412,901 · management and general $412,901

  • 24b · Other expenses: REPAIRS AND MAINTENANCE

    total $740 · management and general $740

  • 24c · Other expenses: MISCELLANEOUS

    total $253 · management and general $253

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $5,253 · end of year $31,489

  • 6 · Loans and receivables from disqualified persons

    beginning of year $1,178,728 · end of year $703,728

  • 7 · Other notes and loans receivable

    beginning of year $412,901 · end of year $8,258,018

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

    $2,436,262

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

    $1,363,449

  • 10c · Land, buildings and equipment, net

    beginning of year $1,338,351 · end of year $1,072,813

  • 13 · Investments: program-related

    beginning of year $14,925,566 · end of year $7,568,252

  • 15 · Other assets

    beginning of year $0 · end of year $194,211

  • 17 · Accounts payable and accrued expenses

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

  • 22 · Loans and payables to officers and key people

    beginning of year $11,898 · end of year $16,065

  • 25 · Other liabilities

    beginning of year $0 · end of year $9,329

  • 27 · Net assets without donor restrictions

    beginning of year $17,847,568 · end of year $17,801,784

Mission and programs · 2023

Mission

TO SUPPORT THE PERFORMING ARTS AND THE HERITAGE OF KNOX COUNTY BEGINNING WITH THE RENOVATION, RESTORATION AND OPERATION OF THE WOODWARD OPERA HOUSE AND TO ENGAGE IN ANY LAWFUL ART OR ACTIVITY PERMITTED UNDER THE OHIO REVISED CODE SECTION 1702.1 TO 1202.87 INCLUSIVE.

  • CREATED A COMMUNITY AND INSTITUTIONAL PARTNERSHIP THAT FORMED THE BASIS OF FUNDING A DOWNTOWN HISTORIC PRESERVATION AND ECONOMIC DEVELOPMENT PROGRAM FOR THE RESTORATION OF THE 2ND OLDEST THEATER IN THE UNITED STATES - THE WOODWARD OPERA HOUSE CIR 1851.

    Expenses $297,378 · Revenue $37,709

  • INITIATED A MULTI-MILLION DOLLAR RESTORATION PROJECTED FOR THE 2ND OLDEST THEATER IN THE UNITED STATES - THE WOODWARD OPERA HOUSE CIR 1851, THAT WILL HOUSE A HEALTHY LOCAL FOODS INITIATIVE STORE AND CAFE IN A FOOD DEFICIENT NEIGHBORHOOD AS WELL AS ARTS AND CONFERENCE SPACE TO SUPPORT THE WOODWARD ARTS AND COMMUNITY DEVELOPMENT INITIATIVE.

  • INITIATED A MULTI-MILLION DOLLAR RESTORATION PROJECT FOR THE 1885 C.G. COOPER BUILDING THAT WILL HOUSE A HEALTHY LOCAL FOODS INITIATIVE COMMUNITY KITCHEN PROCESSING FACILITY IN A FOOD DEFICIENT NEIGHBORHOOD AS WELL AS ARTS AND CONFERENCE SPACE TO SUPPORT THE WOODWARD ARTS AND COMMUNITY DEVELOPMENT INITIATIVE.

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

Listed in Part VII

  • Larry Grindle

    CHAIR

    Total calculated
    $0
    Hours/week
    15

  • Maureen Buchwald

    VICE-CHAIR

    Total calculated
    $0
    Hours/week
    0

  • Charles Kindel

    SECRETARY

    Total calculated
    $0
    Hours/week
    0

  • Susan Ramser

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • Ann Laudeman

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • Barry Lester

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • David Stuller

    TRUSTEE

    Total calculated
    $0
    Hours/week
    10

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.

  • WOODWARD LANDLORD LLC

    RELATED · RENTAL REAL ESTATE · OH · 80% owned · share of assets -$526,940

    Directly controlled by WOODWARD MANAGER LLC

  • WOODWARD TENANT LLC

    RELATED · RENTAL REAL ESTATE · OH · 1% owned · share of assets -$8,254

    Directly controlled by WOODWARD MANAGER LLC

  • WOODWARD LENDER LLC

    RELATED · LENDING/INVESTMENT · OH · 100% owned · share of assets $37,709 · general or managing partner

    Directly controlled by WOODWARD DEVELOPMENT CORPORATION

Related corporations and trusts

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

  • WOODWARD MANAGER LLC

    C · INVESTING · OH · 100% owned · share of income -$485,899 · share of assets $7,209,705 · controlled entity

    Directly controlled by WOODWARD DEVELOPMENT CORPORATION

Provenance

Return type
form_990
Tax year
2023
Filed
12 November 2024
IRS schema version
2023v5.1
Source object
202403209349305635

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