Form 990 for tax year 2023
Filed by KINGDOM COMMUNITY DEVELOPMENT CORPORATION.
Totals
- Total revenue
- $580,719
- Total expenses
- $714,120
- Contributions and grants received
- $440,364
- Grants paid
- $17,931
- Program service revenue
- $195,853
- Investment income
- -$75,948
- Other revenue
- $20,450
- Total assets, end of year
- $4,254,469
- Total liabilities, end of year
- $359,813
- Net assets or fund balances, end of year
- $3,894,656
- Program services expenses (Part IX)
- $641,183
- Management and general expenses
- $72,937
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $641,183
Program services were 89.8% 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.
-
1e · Government grants (contributions)
$440,364
-
2a · Program service revenue: Rental Income
total $195,853 · related or exempt $195,853
-
7a · Gross sales of assets other than inventory
other assets $353,000
-
7b · Less cost or other basis and sales expenses
other assets $428,948
-
7c · Gain or loss
other assets -$75,948
-
7d · Net gain or loss
total -$75,948 · related or exempt -$75,948
-
11a · Other revenue: Refunds
total $20,450 · related or exempt $20,450
-
11e · Other revenue, total
$20,450
Functional expenses
Part IX, the statement of functional expenses.
-
2 · Grants to domestic individuals
total $17,931 · program services $17,931
-
7 · Other salaries and wages
total $229,671 · program services $199,671 · management and general $30,000
-
10 · Payroll taxes
total $19,601 · program services $16,995 · management and general $2,606
-
11c · Fees: accounting
total $4,000 · program services $3,000 · management and general $1,000
-
11g · Fees: other
total $13,826 · program services $13,826
-
13 · Office expenses
total $30,375 · program services $16,031 · management and general $14,344
-
16 · Occupancy
total $26,821 · program services $18,935 · management and general $7,886
-
20 · Interest
total $30,664 · program services $23,664 · management and general $7,000
-
22 · Depreciation, depletion and amortization
total $68,858 · program services $66,869 · management and general $1,989
-
23 · Insurance
total $52,516 · program services $51,516 · management and general $1,000
-
24a · Other expenses: Repairs & Maintenance
total $91,235 · program services $91,235
-
24b · Other expenses: CDBG Public Services Program
total $48,292 · program services $48,292
-
24c · Other expenses: HOME Proceeds-House Sale
total $25,905 · program services $25,905
-
24d · Other expenses: Property & Sales Tax
total $18,642 · program services $12,555 · management and general $6,087
-
24e · All other expenses
total $35,783 · program services $34,758 · management and general $1,025
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $240,471 · end of year $266,763
-
4 · Accounts receivable
beginning of year $145,695 · end of year $45,412
-
10a · Land, buildings and equipment: cost or other basis
$3,494,042
-
10b · Land, buildings and equipment: accumulated depreciation
$591,823
-
10c · Land, buildings and equipment, net
beginning of year $2,971,265 · end of year $2,902,219
-
15 · Other assets
beginning of year $1,125,465 · end of year $1,040,075
-
17 · Accounts payable and accrued expenses
beginning of year $36,827 · end of year $26,933
-
23 · Secured mortgages and notes payable
beginning of year $387,604 · end of year $320,357
-
25 · Other liabilities
beginning of year $13,275 · end of year $12,523
-
27 · Net assets without donor restrictions
beginning of year $4,045,190 · end of year $3,894,656
Mission and programs · 2023
Mission
Kingdom CDCs mission is to build affordable housing, provide home ownership counseling, restore and revitalize low to moderate-income communities through economic development to ensure access to the American dream.
-
Kingdom CDCs mission is to build affordable housing, provide home ownership counseling, restore and revitalize low to moderate-income communities through economic development to ensure access to the American dream.
Expenses $641,183
As filed on the 2023 return.
Listed in Part VII
-
Linda Brown
Director
- Total calculated
- $0
- Hours/week
- 0
-
Sona L Cooper
Treasurer
- Total calculated
- $0
- Hours/week
- 0
-
Brandy Bussey
Director
- Total calculated
- $0
- Hours/week
- 0
-
Francis McDuffie
Director
- Total calculated
- $0
- Hours/week
- 0
-
Mary A Hickey-King
Secretary
- Total calculated
- $0
- Hours/week
- 0
-
Elsie Gilmore
Director
- Total calculated
- $0
- Hours/week
- 0
-
Franklin Keller Jr
Director
- Total calculated
- $0
- Hours/week
- 0
-
Billy R King
President
- Total calculated
- $0
- Hours/week
- 0
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.
-
Kingdom Hospitality Inc
Unrelated · Real Estate · NC
Directly controlled by KCDC
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 14 May 2024
- IRS schema version
- 2023v5.0
- Source object
- 202401639349300910
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