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← DONNELLY COLLEGE REAL ESTATE HOLDINGS INC

Form 990 for tax year 2024

Filed by DONNELLY COLLEGE REAL ESTATE HOLDINGS INC.

Totals

Total revenue
$830,428
Total expenses
$1,639,475
Contributions and grants received
$0
Grants paid
$645,000
Program service revenue
$830,376
Investment income
$52
Other revenue
$0
Total assets, end of year
$15,124,467
Total liabilities, end of year
$16,604,949
Net assets or fund balances, end of year
-$1,480,482
Program services expenses (Part IX)
$1,628,475
Management and general expenses
$11,000
Fundraising expenses
$0
Program service expenses (Part III)
$1,628,475

Program services were 99.3% 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.

  • 2a · Program service revenue: RENTAL INCOME

    total $830,376 · related or exempt $830,376

  • 2f · All other program service revenue

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

  • 3 · Investment income

    total $52 · excluded $52

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $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.

  • 1 · Grants to domestic organizations and governments

    total $645,000 · program services $645,000

  • 11c · Fees: accounting

    total $11,000 · management and general $11,000

  • 11g · Fees: other

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

  • 20 · Interest

    total $265,776 · program services $265,776

  • 22 · Depreciation, depletion and amortization

    total $520,199 · program services $520,199

  • 24a · Other expenses: NMTC FEES

    total $197,500 · program services $197,500

  • 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 $63,783 · end of year $10,954

  • 2 · Savings and temporary cash investments

    beginning of year $191,127 · end of year $21,180

  • 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

    $17,480,370

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

    $2,388,037

  • 10c · Land, buildings and equipment, net

    beginning of year $15,612,532 · end of year $15,092,333

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $16,538,877 · end of year $16,604,949

  • 25 · Other liabilities

    beginning of year $0 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year -$671,435 · end of year -$1,480,482

Mission and programs · 2024

Mission

A REAL ESTATE HOLDING COMPANY FOR DONNELLY COLLEGE.

  • QUALIFIED ACTIVE LOW-INCOME COMMUNITY BUSINESS (QALICB) HOLDING THE LAND AND BUILDING DEVELOPMENT PROJECT FOR DONNELLY COLLEGE.

    Expenses $1,628,475 · Grants $645,000 · Revenue $830,376

As filed on the 2024 return.

Listed in Part VII

  • BOB GRAHAM

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • GORDAN MOFFITT

    MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • NESTOR ZULUAGA

    MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • EMILY BUCKLEY

    SECRETARY

    Total calculated
    $105,382
    From this org
    $0
    From related orgs
    $82,260
    Other
    $23,122
    Hours/week
    1 + 40 related

  • LISA STOOTHOFF

    FORMER PRESIDENT

    Total calculated
    $116,939
    From this org
    $0
    From related orgs
    $102,029
    Other
    $14,910
    Hours/week
    1 + 40 related

  • MSGR STUART SWETLAND

    TREASURER

    Total calculated
    $128,263
    From this org
    $0
    From related orgs
    $97,825
    Other
    $30,438
    Hours/week
    1 + 40 related

  • RONALD DEMPSEY

    PRESIDENT

    Total calculated
    $61,798
    From this org
    $0
    From related orgs
    $51,669
    Other
    $10,129
    Hours/week
    1 + 40 related

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

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
2024
Filed
3 March 2026
IRS schema version
2024v5.1
Source object
202610629349301126

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