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Nonprofiteer
← VISABILITY CENTER INC

Form 990 for tax year 2023

Filed by VISABILITY CENTER INC.

Totals

Total revenue
$89
Total expenses
$1,101,483
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$89
Other revenue
$0
Total assets, end of year
$16,206,009
Total liabilities, end of year
$17,842,212
Net assets or fund balances, end of year
-$1,636,203
Program services expenses (Part IX)
$0
Management and general expenses
$1,101,483
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 $89 · excluded $89

Functional expenses

Part IX, the statement of functional expenses.

  • 16 · Occupancy

    total $217,948 · management and general $217,948

  • 20 · Interest

    total $276,391 · management and general $276,391

  • 22 · Depreciation, depletion and amortization

    total $561,900 · management and general $561,900

  • 23 · Insurance

    total $33,613 · management and general $33,613

  • 24a · Other expenses: REPAIR & MAINTENANCE

    total $11,631 · management and general $11,631

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,016,503 · end of year $623,116

  • 2 · Savings and temporary cash investments

    beginning of year $13,510 · end of year $15,169

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

    $10,058,838

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

    $828,838

  • 10c · Land, buildings and equipment, net

    beginning of year $9,622,962 · end of year $9,230,000

  • 15 · Other assets

    beginning of year $6,651,467 · end of year $6,337,724

  • 23 · Secured mortgages and notes payable

    beginning of year $17,839,251 · end of year $17,842,212

  • 27 · Net assets without donor restrictions

    beginning of year -$534,809 · end of year -$1,636,203

Mission and programs · 2023

Mission

TO FINANCE FACILITY FOR TRAINING AND EMPLOYMENT OF PEOPLE SUFFERING VISION LOSS.

  • VISABILITY CENTER, INC. IS A WISCONSIN NONSTOCK, NONPROFIT CORPORATION ORGANIZED FOR THE EXCLUSIVE PURPOSE OF HOLDING TITLE TO PROPERTY, COLLECTING INCOME FROM THE PROPERTY, AND TURNING INCOME OVER, LESS EXPENSES, TO BEYOND VISION, INC.

As filed on the 2023 return.

Listed in Part VII

  • James Kerlin

    CHAIRMAN & CEO THRU 7/19/24

    Total calculated
    $404,840
    From this org
    $0
    From related orgs
    $351,340
    Other
    $53,500
    Hours/week
    0.5 + 30 related

    Schedule J breakdown matched by us

    Base
    $0 + $285,552 related
    Bonus
    $0 + $65,788 related
    Other
    $0
    Deferred
    $0 + $31,020 related
    Nontaxable benefits
    $0 + $22,480 related
    Filer's total
    $0 + $404,840 related

  • Dennis Martin

    TREASURER & SECRETARY

    Total calculated
    $214,059
    From this org
    $0
    From related orgs
    $176,794
    Other
    $37,265
    Hours/week
    0.5 + 30 related

    Schedule J breakdown matched by us

    Base
    $0 + $145,231 related
    Bonus
    $0 + $31,563 related
    Other
    $0
    Deferred
    $0 + $17,426 related
    Nontaxable benefits
    $0 + $19,839 related
    Filer's total
    $0 + $214,059 related

  • Bill King

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • Gary Goyke

    BOARD MEMBER

    Total calculated
    $16,200
    From this org
    $0
    From related orgs
    $16,200
    Other
    $0
    Hours/week
    0.5

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
17 March 2025
IRS schema version
2023v6.0
Source object
202530799349302058

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