Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $86,865

• 1e · Government grants (contributions)

  $6,673,020

• 1f · All other contributions, gifts and grants

  $1,144,239

• 1g · Noncash contributions included above

  $4,257

• 3 · Investment income

  total -$59 · excluded -$59

• 6a · Gross rents

  real property $40,150

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $40,150

• 6d · Net rental income or loss

  total $40,150 · related or exempt $40,150

• 8a · Fundraising events: gross income

  $9,200

• 8a · Fundraising events: contributions included on line 1c

  $86,865

• 8b · Fundraising events: direct expenses

  $44,154

• 8c · Net income from fundraising events

  total -$34,954 · excluded -$34,954

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $361,249 · management and general $361,249

• 7 · Other salaries and wages

  total $3,771,210 · program services $2,888,661 · management and general $670,392 · fundraising $212,157

• 8 · Pension plan contributions

  total $145,748 · program services $131,872 · management and general $6,673 · fundraising $7,203

• 9 · Other employee benefits

  total $420,275 · program services $352,245 · management and general $48,789 · fundraising $19,241

• 10 · Payroll taxes

  total $355,830 · program services $264,186 · management and general $74,820 · fundraising $16,824

• 11b · Fees: legal

  total $71,488 · program services $3,263 · management and general $68,225

• 11c · Fees: accounting

  total $47,000 · management and general $47,000

• 11g · Fees: other

  total $573,702 · program services $564,066 · management and general $9,636

• 12 · Advertising and promotion

  total $15,285 · program services $10,570 · management and general $2,325 · fundraising $2,390

• 13 · Office expenses

  total $112,797 · program services $82,512 · management and general $26,404 · fundraising $3,881

• 14 · Information technology

  total $124,408 · program services $58,739 · management and general $52,691 · fundraising $12,978

• 16 · Occupancy

  total $405,268 · program services $324,517 · management and general $63,104 · fundraising $17,647

• 17 · Travel

  total $17,251 · program services $15,545 · management and general $1,515 · fundraising $191

• 20 · Interest

  total $28,646 · program services $23,201 · management and general $4,183 · fundraising $1,262

• 22 · Depreciation, depletion and amortization

  total $223,665 · program services $181,154 · management and general $32,660 · fundraising $9,851

• 23 · Insurance

  total $32,192 · program services $22,728 · management and general $8,228 · fundraising $1,236

• 24a · Other expenses: PARTICIPANT SUPPORT

  total $1,390,784 · program services $1,389,947 · management and general $806 · fundraising $31

• 24b · Other expenses: MISCELLANEOUS

  total $21,622 · program services $7,768 · management and general $13,112 · fundraising $742

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $174,053 · end of year $329,810

• 3 · Pledges and grants receivable

  beginning of year $1,014,969 · end of year $1,502,009

• 4 · Accounts receivable

  beginning of year $38,165 · end of year $38,908

• 9 · Prepaid expenses and deferred charges

  beginning of year $128,384 · end of year $196,497

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

  $6,791,116

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

  $2,110,366

• 10c · Land, buildings and equipment, net

  beginning of year $4,887,206 · end of year $4,680,750

• 15 · Other assets

  beginning of year $255,810 · end of year $188,069

• 17 · Accounts payable and accrued expenses

  beginning of year $364,930 · end of year $674,904

• 19 · Deferred revenue

  beginning of year $18,000 · end of year $7,113

• 23 · Secured mortgages and notes payable

  beginning of year $619,842 · end of year $544,922

• 25 · Other liabilities

  beginning of year $205,810 · end of year $1,551,174

• 27 · Net assets without donor restrictions

  beginning of year $5,290,005 · end of year $3,915,272

• 28 · Net assets with donor restrictions

  end of year $242,658

The filer's explanations (Part III)

PART I, LINE 7

THE EXECUTIVE DIRECTOR RECEIVED A BONUS PAYMENT FOR PERFORMANCE IN 2024 THAT WAS INCLUDED IN TAXABLE COMPENSATION AND WAS REPORTED ON THE 2024 FORM W-2. THE NON-FIXED BONUS PAYMENT WAS DETERMINED BY THE BOARD OF DIRECTORS WITHIN THE PARAMETERS OF THE ANNUAL PERFORMANCE OBJECTIVES AND GOALS AGREED TO BY THE EMPLOYEE AND THE BOARD OF DIRECTORS.

Disregarded entities

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

• EMERGING COMMUNITIES LLC

  WORKFORCE DEVELOPMENT · MN · income $22,927 · assets $22,436

  Directly controlled by EMERGE COMMUNITY DEVELOPMENT