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Nonprofiteer
← GENESEE VALLEY IMPROVEMENT CORPORATION

Form 990 for tax year 2023

Filed by GENESEE VALLEY IMPROVEMENT CORPORATION.

Totals

Total revenue
$304,310
Total expenses
$245,913
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$274,704
Investment income
$25,839
Other revenue
$3,767
Total assets, end of year
$543,746
Total liabilities, end of year
$448,564
Net assets or fund balances, end of year
$95,182
Program services expenses (Part IX)
$209,913
Management and general expenses
$36,000
Fundraising expenses
$0
Program service expenses (Part III)
$209,913

Program services were 85.4% 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 $274,704 · related or exempt $274,704

  • 3 · Investment income

    total $39 · excluded $39

  • 7a · Gross sales of assets other than inventory

    other assets $25,800

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

    other assets $0

  • 7c · Gain or loss

    other assets $25,800

  • 7d · Net gain or loss

    total $25,800 · excluded $25,800

  • 11a · Other revenue: LAUNDRY INCOME

    total $3,767 · excluded $3,767

  • 11e · Other revenue, total

    $3,767

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $36,000 · management and general $36,000

  • 11b · Fees: legal

    total $300 · program services $300

  • 11g · Fees: other

    total $32,292 · program services $32,292

  • 14 · Information technology

    total $1,248 · program services $1,248

  • 16 · Occupancy

    total $92,803 · program services $92,803

  • 22 · Depreciation, depletion and amortization

    total $15,472 · program services $15,472

  • 23 · Insurance

    total $1,481 · program services $1,481

  • 24a · Other expenses: REPAIRS & MAINTENANCE

    total $57,304 · program services $57,304

  • 24b · Other expenses: BAD DEBT

    total $5,033 · program services $5,033

  • 24c · Other expenses: DUES & SUBSCRIPTIONS

    total $2,080 · program services $2,080

  • 24d · Other expenses: VEHICLE EXPS

    total $1,238 · program services $1,238

  • 24e · All other expenses

    total $662 · program services $662

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $102,478 · end of year $181,627

  • 4 · Accounts receivable

    beginning of year $16,164

  • 9 · Prepaid expenses and deferred charges

    beginning of year $27,073 · end of year $25,358

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

    $2,206,120

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

    $1,975,145

  • 10c · Land, buildings and equipment, net

    beginning of year $180,724 · end of year $230,975

  • 15 · Other assets

    beginning of year $160,658 · end of year $105,786

  • 17 · Accounts payable and accrued expenses

    beginning of year $11,225 · end of year $11,036

  • 19 · Deferred revenue

    beginning of year $3,500 · end of year $1,940

  • 23 · Secured mortgages and notes payable

    beginning of year $430,068 · end of year $430,068

  • 25 · Other liabilities

    beginning of year $5,519 · end of year $5,520

  • 27 · Net assets without donor restrictions

    beginning of year $36,785 · end of year $95,182

Mission and programs · 2023

Mission

IMPROVE HOUSING FOR FAMILIES

  • G.V.I.C. PROVIDES LOW INCOME HOUSING FOR QUALIFIED INDIVIDUALS AND FAMILIES.

    Expenses $209,913 · Revenue $274,704

As filed on the 2023 return.

Listed in Part VII

  • KELLY DICKERSON

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • JOSEPH DAMIANO

    VICE CHAIRPERSON

    Total calculated
    $0
    Hours/week
    1

  • MICHAEL MILLER

    SECRETARY/TREASURER

    Total calculated
    $0
    Hours/week
    1

  • NICK DAVIS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • LESLIE CHRISTMAN

    EXECUTIVE DIRECTOR

    Total calculated
    $115,279
    From this org
    $0
    From related orgs
    $95,985
    Other
    $19,294
    Hours/week
    1 + 40 related

  • LORRAINE HARMON

    C.F.O.

    Total calculated
    $47,790
    From this org
    $0
    From related orgs
    $47,790
    Other
    $0
    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

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
26 June 2024
IRS schema version
2023v5.1
Source object
202411799349301036

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