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Nonprofiteer
← CLUB 720 DEVELOPMENT CORPORATION

Form 990 for tax year 2023

Filed by CLUB 720 DEVELOPMENT CORPORATION.

Totals

Total revenue
$1,559,215
Total expenses
$1,380,795
Contributions and grants received
$931,686
Grants paid
$0
Program service revenue
$619,437
Investment income
$183
Other revenue
$7,909
Total assets, end of year
$630,966
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$630,966
Program services expenses (Part IX)
$1,261,211
Management and general expenses
$95,560
Fundraising expenses
$24,024
Program service expenses (Part III)
$1,261,211

Program services were 91.3% 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)

    $756,186

  • 1f · All other contributions, gifts and grants

    $175,500

  • 2a · Program service revenue: CONSULTING

    total $493,000 · related or exempt $493,000

  • 2b · Program service revenue: HPGN SERVICES

    total $101,437 · related or exempt $101,437

  • 2c · Program service revenue: DEVELOPER FEES

    total $20,000 · related or exempt $20,000

  • 2d · Program service revenue: ADMINISTRATION FEES

    total $5,000 · related or exempt $5,000

  • 3 · Investment income

    total $183 · excluded $183

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $7,909 · related or exempt $7,909

  • 11e · Other revenue, total

    $7,909

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $195,840 · program services $166,464 · management and general $19,584 · fundraising $9,792

  • 7 · Other salaries and wages

    total $248,037 · program services $210,831 · management and general $24,804 · fundraising $12,402

  • 9 · Other employee benefits

    total $4,298 · program services $3,653 · management and general $430 · fundraising $215

  • 10 · Payroll taxes

    total $32,306 · program services $27,460 · management and general $3,231 · fundraising $1,615

  • 11b · Fees: legal

    total $27,418 · program services $27,418

  • 11c · Fees: accounting

    total $21,401 · management and general $21,401

  • 12 · Advertising and promotion

    total $14,263 · program services $14,263

  • 13 · Office expenses

    total $7,046 · management and general $7,046

  • 14 · Information technology

    total $455 · management and general $455

  • 15 · Royalties

    total $163,024 · program services $163,024

  • 16 · Occupancy

    total $12,683 · management and general $12,683

  • 17 · Travel

    total $5,026 · program services $5,026

  • 22 · Depreciation, depletion and amortization

    total $686 · program services $686

  • 23 · Insurance

    total $5,926 · management and general $5,926

  • 24a · Other expenses: CONTRACTED SERVICES

    total $618,664 · program services $618,664

  • 24b · Other expenses: HUB EXPENSES

    total $23,722 · program services $23,722

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,281 · end of year $71,611

  • 2 · Savings and temporary cash investments

    beginning of year $207,314 · end of year $250,533

  • 7 · Other notes and loans receivable

    beginning of year $250,000 · end of year $250,000

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

    $3,087

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

    $3,087

  • 10c · Land, buildings and equipment, net

    beginning of year $686

  • 15 · Other assets

    end of year $58,822

  • 17 · Accounts payable and accrued expenses

    beginning of year $7,735

  • 27 · Net assets without donor restrictions

    beginning of year $264,872 · end of year $443,469

  • 28 · Net assets with donor restrictions

    beginning of year $187,674 · end of year $187,497

Mission and programs · 2023

Mission

CLUB 720 DEVELOPMENT CORPORATION IS ORGANIZED FOR PURPOSES THAT ARE EXCLUSIVELY CHARITABLE AND EDUCATIONAL AND CONSIST OF THE FOLLOWING: (1) TO PROVIDE BASIC LIVING FACILITIES FOR ECONOMICALLY DISTRESSED INDIVIDUALS THROUGH HOUSING DEVELOPMENT IN ORDER TO IMPROVE THE LIVING CONDITIONS AND ECONOMIC WELL-BEING OF INDIVIDUALS AND TO ENGAGE IN RELATED ACTIVITIES IN ORDER TO IMPROVE THE LIVING CONDITIONS AND ECONOMIC WELL-BEING OF SAID INDIVIDUALS. (2) TO CREATE A SOCIAL ENVIRONMENT OF SELF-DETERMINATION AND COOPERATION THAT ENCOURAGES ECONOMICALLY DISTRESSED RESIDENTS TO PURSUE THEIR LIFE GOALS AND ASPIRATIONS, ESPECIALLY WITH REGARD TO ADEQUATE HOUSING, WITH A SENSE OF SELF-RESPECT AND DIGNITY. (3) TO DO ANY AND ALL LAWFUL ACTIVITIES WHICH MAY BE NECESSARY, USEFUL, OR DESIRABLE FOR THE FURTHERANCE, ACCOMPLISHMENT, FOSTERING, OR ATTAINMENT OF THE FOREGOING PURPOSES, EITHER DIRECTLY OR INDIRECTLY AND EITHER ALONE OR IN CONJUNCTION OR COOPERATION WITH OTHERS, WHETHER SUCH OTHERS BE PERSONS O

Activities or mission (Part I)

THE CLUB 720 DEVELOPMENT CORPORATION IS A NOT-FOR-PROFIT ORGANIZATION DEDICATED TO CULTIVATING AND STRENGTHENING THRIVING COMMUNITIES.

  • IN 2023 CLUB 720 DEVELOPMENT CORPORATION D/B/A HOUSING RESOURCE HUB COMPLETED SEVERAL PROJECTS DIRECTLY RELATED TO ITS VISION OF "CULTIVATING THRIVING COMMUNITIES." THE ORGANIZATION WORKED INTENSIVELY IN FIVE COMMUNITIES TO CREATE AND IMPLEMENT HOUSING STRATEGIES THAT ARE DESIGNED TO DEVELOP ACTIONABLE HOUSING SOLUTIONS AND FINANCIAL EDUCATION PROGRAMS. THIS WORK HELPED TO CREATE A FOUNDATION FOR ECONOMIC EMPOWERMENT AND STABILITY. THE WORK INCLUDED DIRECTLY LEADING PRE-DEVELOPMENT ACTIVITIES FOR FIVE CATALYST HOUSING PROJECTS THAT WERE HIGHLY PRIORITIZED BY THE COMMUNITY, WITH TWO OF THE PROJECTS MOVING INTO THE DEVELOPMENT PHASE. THE ORGANIZATION WORKED REGIONALLY BY SUPPORTING THE MAYORS AND COMMISSIONERS CAUCUS OF NORTHEAST INDIANA. THE ORGANIZATION ALSO PARTNERED WITH BALL STATE UNIVERSITY TO CONDUCT CERTIFIED PUBLIC MANAGER TRAINING FOR MUNICIPAL LEADERS ACROSS INDIANA AND ILLINOIS ON A MONTHLY BASIS.

    Expenses $1,261,211 · Revenue $619,437

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

Listed in Part VII

  • Heather Presley-Cowen

    PRESIDENT, B

    Total calculated
    $105,840
    From this org
    $105,840
    From related orgs
    $0
    Other
    $0
    Hours/week
    25

  • Ryan Chasey

    COO

    Total calculated
    $94,298
    From this org
    $90,000
    From related orgs
    $0
    Other
    $4,298
    Hours/week
    40

  • J Nelson Coats

    TREASURER

    Total calculated
    $0
    Hours/week
    0.6

  • Adam Welch

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.35

  • Linda Lauer

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.6

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.

Provenance

Return type
form_990
Tax year
2023
Filed
14 November 2024
IRS schema version
2023v5.0
Source object
202403199349308400

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