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Nonprofiteer
← MAXWELL M CORPENING JR MEMORIAL CENTER INC

Form 990 for tax year 2022

Filed by MAXWELL M CORPENING JR MEMORIAL CENTER INC.

Totals

Total revenue
$600,207
Total expenses
$390,265
Contributions and grants received
$515,732
Grants paid
$120,684
Program service revenue
$0
Investment income
$39,218
Other revenue
$45,257
Total assets, end of year
$6,605,675
Total liabilities, end of year
$908,752
Net assets or fund balances, end of year
$5,696,923
Program services expenses (Part IX)
$337,793
Management and general expenses
$52,472
Fundraising expenses
$0
Program service expenses (Part III)
$337,793

Program services were 86.6% 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.

  • 1d · Related organizations

    $515,732

  • 3 · Investment income

    total $42,116 · excluded $42,116

  • 6a · Gross rents

    real property $45,257

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $45,257

  • 6d · Net rental income or loss

    total $45,257 · related or exempt $45,257

  • 7a · Gross sales of assets other than inventory

    securities $10,000

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

    securities $12,898

  • 7c · Gain or loss

    securities -$2,898

  • 7d · Net gain or loss

    total -$2,898 · excluded -$2,898

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $120,684 · program services $120,684

  • 7 · Other salaries and wages

    total $2,310 · management and general $2,310

  • 10 · Payroll taxes

    total $25 · management and general $25

  • 11b · Fees: legal

    total $500 · management and general $500

  • 11c · Fees: accounting

    total $8,036 · management and general $8,036

  • 11f · Fees: investment management

    total $8,382 · management and general $8,382

  • 13 · Office expenses

    total $711 · management and general $711

  • 19 · Conferences, conventions and meetings

    total $2,279 · management and general $2,279

  • 20 · Interest

    total $26,988 · management and general $26,988

  • 22 · Depreciation, depletion and amortization

    total $200,861 · program services $200,339 · management and general $522

  • 23 · Insurance

    total $16,770 · program services $16,770

  • 24a · Other expenses: REPAIRS & MAINTENANCE

    total $2,719 · management and general $2,719

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $476,263 · end of year $398,092

  • 2 · Savings and temporary cash investments

    beginning of year $341,685 · end of year $342,369

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

    $8,303,678

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

    $3,939,533

  • 10c · Land, buildings and equipment, net

    beginning of year $4,508,345 · end of year $4,364,145

  • 11 · Investments: publicly traded securities

    beginning of year $1,487,438 · end of year $1,390,133

  • 15 · Other assets

    beginning of year $9,892 · end of year $110,936

  • 17 · Accounts payable and accrued expenses

    beginning of year $9,185 · end of year $8,752

  • 23 · Secured mortgages and notes payable

    beginning of year $1,200,000 · end of year $900,000

  • 25 · Other liabilities

    beginning of year $276,005 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $5,001,048 · end of year $5,359,538

  • 28 · Net assets with donor restrictions

    beginning of year $337,385 · end of year $337,385

Mission and programs · 2022

Mission

TO PROVIDE A RECREATION FACILITY FOR MCDOWELL COUNTY.

Activities or mission (Part I)

TO PROVIDE A RECREATION FACILITY FOR THE RESIDENTS OF MCDOWELL COUNTY

  • THE ORGANIZATION HAS CONTRACTED WITH THE YMCA OF WESTERN NORTH CAROLINA TO PROVIDE FOR THE DAILY OPERATION OF YMCA PROGRAMS, WITH BOTH FINANCIAL SUPPORT AND FACILITY PROVIDED TO THE YMCA BY THE ORGANIZATION.

    Expenses $337,793 · Grants $120,684

As filed on the 2022 return.

Listed in Part VII

  • Ray Buchanan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • David Wooten

    SECRETARY/TREASURER

    Total calculated
    $0
    Hours/week
    0.3

  • Chuck Abernathy

    ASS'T SECRETARY/TREASURER

    Total calculated
    $0
    Hours/week
    0.3

  • Paul Vest

    DIRECTOR

    Total calculated
    $289,377
    From this org
    $0
    From related orgs
    $252,787
    Other
    $36,590
    Hours/week
    0.3 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $252,787 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $30,577 related
    Nontaxable benefits
    $0 + $6,013 related
    Filer's total
    $0 + $289,377 related

  • Grayson England

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • Weyland Prebor

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • Steve McMahan

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Frank Dean

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    0.3

  • Ray McKesson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • Carol Wolfenbarger

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • Natalie Gouge

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • Hill Evans

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • Ricky Buchanan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • Steve Gaito

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • Rob Warren

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

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
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

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

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
2022
Filed
9 November 2023
IRS schema version
2022v5.0
Source object
202323199349306432

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