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Nonprofiteer
← BENTONVILLE REVITALIZATION INC

Form 990 for tax year 2024

Filed by BENTONVILLE REVITALIZATION INC.

Totals

Total revenue
$11,028,101
Total expenses
$402,276
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$1,406,379
Investment income
$9,621,722
Other revenue
$0
Total assets, end of year
$15,021,311
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$15,021,311
Program services expenses (Part IX)
$387,001
Management and general expenses
$15,275
Fundraising expenses
$0
Program service expenses (Part III)
$387,001

Program services were 96.2% 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.

  • 2a · Program service revenue: 21C BENTONVILLE, LLC

    total $1,406,379 · related or exempt $1,406,379

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7a · Gross sales of assets other than inventory

    other assets $22,441,320

  • 7b · Less cost or other basis and sales expenses

    other assets $12,819,598

  • 7c · Gain or loss

    securities $0 · other assets $9,621,722

  • 7d · Net gain or loss

    total $9,621,722 · related or exempt $9,621,722

  • 8c · Net income from fundraising events

    total $0

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $26,155 · program services $26,155

  • 11b · Fees: legal

    total $46,622 · program services $46,622

  • 11c · Fees: accounting

    total $15,275 · management and general $15,275

  • 11g · Fees: other

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 16 · Occupancy

    total $32,277 · program services $32,277

  • 20 · Interest

    total $242,746 · program services $242,746

  • 22 · Depreciation, depletion and amortization

    total $39,201 · program services $39,201

  • 24e · All other expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $28,382 · end of year $14,493,798

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

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

    $830,997

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

    $303,484

  • 10c · Land, buildings and equipment, net

    beginning of year $1,725,090 · end of year $527,513

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $13,279,329

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $10,637,315 · end of year $0

  • 25 · Other liabilities

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $4,395,486 · end of year $15,021,311

Mission and programs · 2024

Mission

BENTONVILLE REVITALIZATION, INC. (THE GANIZATION") EXISTS TO PROMOTE COMMUNITY DEVELOPMENT AND TO COMBAT COMMUNITY DETERIORATION IN DOWNTOWN BENTONVILLE, ARKANSAS. AMONG ITS ACTIVITIES, THE ORGANIZATION MAY (A) PURCHASE EMPTY OR VACATED PROPERTY LOTS IN THE DOWNTOWN BENTONVILLE AREA, (B) OVERSEE PREPARING THE LOTS FOR RESALE (E.G., CLEARING THE LOTS OF ANY STRUCTURES OR DEBRIS), AND (C) RESELL THE LOTS FOR FAIR MARKET VALUE TO THIRD PARTY PURCHASERS THAT HAVE INDICATED AN INTEREST IN DEVELOPING THE PROPERTY TO PROMOTE THE BUSINESS AND CIVIC INTERESTS OF BENTONVILLE.

Activities or mission (Part I)

SEE RESPONSE ON PART III, LINE 1 AND CONTINUED ON SCHEDULE O ATTACHED

  • The organization operates one level of a parking deck in downtown Bentonville that is open daily and free of charge for public parking. The organization also operates three parking lots in downtown Bentonville that are used as Benton County employee parking during work hours and public parking after work hours, both free of charge.

    Expenses $127,085 · Revenue $1,341,624

  • FOR THE PURPOSE OF REVITALIZING THE DOWNTOWN BENTONVILLE AREA AND PROMOTING COMMUNITY DEVELOPMENT, THE ORGANIZATION HAS HAD A PROGRAM RELATED INVESTMENT IN 21C BENTONVILLE, LLC AND MAKES GRANTS TO THE CITY OF BENTONVILLE.

    Expenses $259,916 · Revenue $9,686,477

As filed on the 2024 return.

Listed in Part VII

  • David Short

    DIRECTOR, PRESIDENT, TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Nancy Leake

    DIRECTOR, SECRETARY

    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.

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.

  • 21C BENTONVILLE LLC

    Related · HOSPITALITY · AR · 57.81% owned · share of income $1,406,379 · share of assets $0

    Directly controlled by BENTONVILLE REVITALIZATION INC

Assets distributed on this return

Schedule N, as filed: what the organization did with its assets when it liquidated or dissolved, or disposed of more than a quarter of them, and who received them. A recipient with an EIN is usually a successor organization; filers also list expenses such as legal fees here.

1 distribution to a recipient named as a person, $19,941,320. Counted where the filer named the recipient as a person, as filed. Who received them, and what, are not published.

Provenance

Return type
form_990
Tax year
2024
Filed
29 October 2025
IRS schema version
2024v5.1
Source object
202533029349302813

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