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Nonprofiteer
← WOODWARD DEVELOPMENT CORPORATION

Form 990 for tax year 2024

Filed by WOODWARD DEVELOPMENT CORPORATION.

Totals

Total revenue
$1,433,461
Total expenses
$942,644
Contributions and grants received
$259,180
Grants paid
$0
Program service revenue
$886,382
Investment income
$146
Other revenue
$287,753
Total assets, end of year
$17,118,992
Total liabilities, end of year
$258,753
Net assets or fund balances, end of year
$16,860,239
Program services expenses (Part IX)
$280,806
Management and general expenses
$661,838
Fundraising expenses
$0
Program service expenses (Part III)
$280,806

Program services were 29.8% 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

    $259,180

  • 2a · Program service revenue: FLOWTHROUGH INCOME

    total $886,382 · related or exempt $886,382

  • 3 · Investment income

    total $146 · related or exempt $146

  • 6a · Gross rents

    real property $280,371

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $280,371

  • 6d · Net rental income or loss

    total $280,371 · related or exempt $280,371

  • 11a · Other revenue: OTHER INCOME

    total $7,382 · related or exempt $7,382

  • 11e · Other revenue, total

    $7,382

Functional expenses

Part IX, the statement of functional expenses.

  • 20 · Interest

    total $225,648 · management and general $225,648

  • 22 · Depreciation, depletion and amortization

    total $280,806 · program services $280,806

  • 24a · Other expenses: REPAIRS AND MAINTENANCE

    total $165,410 · management and general $165,410

  • 24b · Other expenses: MISCELLANEOUS

    total $74,398 · management and general $74,398

  • 24c · Other expenses: UTILITIES

    total $71,741 · management and general $71,741

  • 24d · Other expenses: INSURANCE

    total $50,782 · management and general $50,782

  • 24e · All other expenses

    total $73,859 · management and general $73,859

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $31,489 · end of year $57,682

  • 4 · Accounts receivable

    end of year $103,606

  • 6 · Loans and receivables from disqualified persons

    beginning of year $703,728 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $8,258,018 · end of year $0

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

    $25,649,775

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

    $8,737,080

  • 10c · Land, buildings and equipment, net

    beginning of year $1,072,813 · end of year $16,912,695

  • 13 · Investments: program-related

    beginning of year $7,568,252 · end of year $0

  • 15 · Other assets

    beginning of year $194,211 · end of year $45,009

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,333 · end of year $254,568

  • 22 · Loans and payables to officers and key people

    beginning of year $16,065 · end of year $0

  • 25 · Other liabilities

    beginning of year $9,329 · end of year $4,185

  • 27 · Net assets without donor restrictions

    beginning of year $17,801,784 · end of year $16,860,239

Mission and programs · 2024

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 $280,806 · Revenue $886,382

  • 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 2024 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
    15

  • Jay Nixon

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • Laura Webster

    TRUSTEE

    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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • WOODWARD LENDER LLC

    LENDING/INVESTMENT · OH · income -$8,300 · assets $8,452,229

    Directly controlled by WOODWARD DEVELOPMENT CORPORATION

Related partnerships

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

  • WOODWARD LANDLORD LLC

    RELATED · RENTAL REAL ESTATE · OH · 100% owned · share of income -$802,788 · share of assets $18,550,666

    Directly controlled by WOODWARD DEVELOPMENT CORPORATION

  • WOODWARD TENANT LLC

    RELATED · RENTAL REAL ESTATE · OH · 100% owned · share of income $882,078 · share of assets $5,738,986

    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 -$762,186 · controlled entity

    Directly controlled by WOODWARD DEVELOPMENT CORPORATION

Provenance

Return type
form_990
Tax year
2024
Filed
17 November 2025
IRS schema version
2024v5.2
Source object
202533219349322413

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