Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1d · Related organizations

  $14,090,825

• 1f · All other contributions, gifts and grants

  $2,328,438

• 1g · Noncash contributions included above

  $3,204,831

• 2a · Program service revenue: DEVELOPER TAX CREDIT REVENUE

  total $2,643,462 · related or exempt $2,643,462

• 2b · Program service revenue: RENTAL INCOME

  total $1,674,073 · related or exempt $1,674,073

• 2c · Program service revenue: EVENT INCOME

  total $105,715 · related or exempt $17,754 · unrelated business $87,961

• 2d · Program service revenue: DEVELOPER FEE

  total $62,774 · related or exempt $62,774

• 2e · Program service revenue: PARKING GARAGE INCOME

  total $58,494 · related or exempt $58,494

• 2f · All other program service revenue

  total $74,131 · related or exempt $74,131

• 3 · Investment income

  total $187,304 · excluded $187,304

• 6a · Gross rents

  real property $27,376

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $27,376

• 6d · Net rental income or loss

  total $27,376 · excluded $27,376

• 11a · Other revenue: BAR REVENUE

  total $48,745 · unrelated business $48,745

• 11e · Other revenue, total

  $48,745

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $653,371 · program services $653,371

• 5 · Compensation of officers, directors and key employees

  total $808,973 · program services $551,176 · management and general $180,651 · fundraising $77,146

• 7 · Other salaries and wages

  total $1,333,011 · program services $810,415 · management and general $522,596

• 8 · Pension plan contributions

  total $105,201 · program services $65,005 · management and general $40,196

• 9 · Other employee benefits

  total $198,449 · program services $126,180 · management and general $71,568 · fundraising $701

• 10 · Payroll taxes

  total $143,510 · program services $91,117 · management and general $47,825 · fundraising $4,568

• 11a · Fees: management

  total $43,200 · management and general $43,200

• 11b · Fees: legal

  total $209,366 · program services $64,176 · management and general $145,190

• 11c · Fees: accounting

  total $56,600 · management and general $56,600

• 11d · Fees: lobbying

  total $66,000 · management and general $66,000

• 11g · Fees: other

  total $41,985 · management and general $41,985

• 12 · Advertising and promotion

  total $238,923 · program services $238,923

• 13 · Office expenses

  total $248,898 · program services $85,212 · management and general $156,478 · fundraising $7,208

• 16 · Occupancy

  total $2,675,922 · program services $1,647,907 · management and general $1,025,465 · fundraising $2,550

• 20 · Interest

  total $482,747 · program services $482,747

• 22 · Depreciation, depletion and amortization

  total $1,183,121 · program services $1,183,121

• 23 · Insurance

  total $126,483 · program services $37,195 · management and general $89,288

• 24a · Other expenses: PROJECT EXPENSES

  total $634,932 · program services $634,932

• 24b · Other expenses: ADMINISTRATIVE EVENT E

  total $362,885 · program services $362,885

• 24c · Other expenses: BAD DEBT

  total $153,055 · management and general $153,055

• 24d · Other expenses: DEVELOPMENT EXPENSES

  total $62,774 · program services $62,774

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $5,308,990 · end of year $5,083,333

• 2 · Savings and temporary cash investments

  beginning of year $15,500,000 · end of year $9,894,366

• 3 · Pledges and grants receivable

  beginning of year $1,982,219 · end of year $7,004,687

• 4 · Accounts receivable

  end of year $663,050

• 7 · Other notes and loans receivable

  beginning of year $9,615,998 · end of year $10,118,027

• 9 · Prepaid expenses and deferred charges

  beginning of year $108,440 · end of year $86,771

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

  $59,522,816

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

  $1,922,777

• 10c · Land, buildings and equipment, net

  beginning of year $35,626,868 · end of year $57,600,039

• 15 · Other assets

  beginning of year $22,272,356 · end of year $43,976,683

• 17 · Accounts payable and accrued expenses

  beginning of year $2,132,922 · end of year $4,241,823

• 23 · Secured mortgages and notes payable

  beginning of year $222,678 · end of year $27,915,196

• 25 · Other liabilities

  beginning of year $8,848,340 · end of year $10,650,605

• 27 · Net assets without donor restrictions

  beginning of year $60,861,088 · end of year $89,100,511

• 28 · Net assets with donor restrictions

  beginning of year $18,349,843 · end of year $2,518,821

The filer's explanations (Part III)

PART I, LINE 3

THE PERFORMANCE AND COMPENSATION OF THE PRESIDENT, CEO, AND OTHER CHIEF EXECUTIVES ARE REVIEWED, ANALYZED AND SET BY THE 16 TECH CC BOARD OF DIRECTORS, WHICH USES A DISTINCT SET OF COMPARABLES TO THE COMPENSATION OF OTHER EXECUTIVES IN SIMILAR POSITIONS IN OTHER ORGANIZATIONS. THE EXECUTIVE COMMITTEE APPROVES THE CEO COMPENSATION AND THE BOARD OF DIRECTORS APPROVES AS PART OF THE BUDGETING PROCESS THE POOL FOR MERIT INCREASES FOR THE COMING YEAR.

PART I, LINE 4A

ROBERT HERZOG - $50,227

SCHEDULE J, PART II

ANNUALLY A QUESTIONNAIRE IS PROVIDED TO EACH CURRENT AND FORMER DIRECTOR REQUESTING THE FOLLOWING INFORMATION FROM THE SUPPORTED ORGANIZATION FROM WHICH THEY REPRESENT OR SERVE AS A MEMBER OF THE SUPPORTED ORGANIZATIONS BOARD: THE DIRECTOR'S NAME, TITLE, AND COMPENSATION FROM EACH REQUIRED SUPPORTED ORGANIZATION.

Disregarded entities

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

• 16 TECH DEVELOPER LLC

  REAL ESTATE DEVELOPER · IN · income $3,582,197 · assets $17,360,739

  Directly controlled by 16 TECH COMMUNITY CORPORATION

• 16 TECH SUB TENENT LLC

  PROPERTY MANAGEMENT · IN · income $1,702,141 · assets $25,462,419

  Directly controlled by 16 TECH COMMUNITY CORPORATION

Related partnerships

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

• 16 TECH LEVERAGE LENDER LLC

  RELATED · LEVERAGE LENDING · IN · 54.25% owned · share of income $244,824 · share of assets $9,157,042

  Directly controlled by 16 TECH DEVELOPER LLC