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Nonprofiteer
← NEWMARKET PROJECT INC

Form 990 for tax year 2023

Filed by NEWMARKET PROJECT INC.

Totals

Total revenue
$420,446
Total expenses
$422,476
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$420,396
Other revenue
$50
Total assets, end of year
$7,014,134
Total liabilities, end of year
$6,707,156
Net assets or fund balances, end of year
$306,978
Program services expenses (Part IX)
$0
Management and general expenses
$422,476
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 0.0% 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.

  • 3 · Investment income

    total $420,396 · excluded $420,396

  • 6a · Gross rents

    real property $50

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $50

  • 6d · Net rental income or loss

    total $50 · excluded $50

Functional expenses

Part IX, the statement of functional expenses.

  • 11c · Fees: accounting

    total $2,100 · management and general $2,100

  • 20 · Interest

    total $420,396 · management and general $420,396

  • 24a · Other expenses: REAL ESTATE TAXES

    total -$20 · management and general -$20

Balance sheet

Part X, book values.

  • 7 · Other notes and loans receivable

    beginning of year $5,999,988 · end of year $6,694,134

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

    $320,000

  • 10c · Land, buildings and equipment, net

    beginning of year $320,000 · end of year $320,000

  • 15 · Other assets

    beginning of year $273,750 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $276 · end of year $256

  • 25 · Other liabilities

    beginning of year $6,284,454 · end of year $6,706,900

  • 27 · Net assets without donor restrictions

    beginning of year $309,008 · end of year $306,978

Mission and programs · 2023

Mission

TO ENGAGE IN PURCHASE, RENTAL, AND SALE OF REAL PROPERTY TO ENHANCE THE REHABILITATION OF DOWNTOWN CANTON, OHIO.

Activities or mission (Part I)

TO ENGAGE IN THE PURCHASE, RENTAL, AND SALE OF REAL PROPERTY TO ENHANCE THE REHABILITATION OF DOWNTOWN CANTON, OHIO.

  • TO ENGAGE IN PURCHASE, RENTAL, AND SALE OF REAL PROPERTY TO ENHANCE THE REHABILITATION OF DOWNTOWN CANTON, OHIO.

As filed on the 2023 return.

Listed in Part VII

  • NANCY VARIAN

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • CARRIE L BAST

    SECRETARY/TREASURER

    Total calculated
    $184,292
    From this org
    $0
    From related orgs
    $175,721
    Other
    $8,571
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $169,307 related
    Bonus
    $0 + $6,000 related
    Other
    $0 + $414 related
    Deferred
    $0 + $7,465 related
    Nontaxable benefits
    $0 + $2,492 related
    Filer's total
    $0 + $185,678 related

  • WILLIAM R COOK

    VICE PRESIDENT

    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. 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

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
2023
Filed
11 November 2024
IRS schema version
2023v5.1
Source object
202423189349301502

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