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Nonprofiteer
← MANCHESTER-BIDWELL DEVELOPMENT TRUST

Form 990 for tax year 2022

Filed by MANCHESTER-BIDWELL DEVELOPMENT TRUST.

Totals

Total revenue
$1,125,236
Total expenses
$195,126
Contributions and grants received
$250,000
Grants paid
$100,200
Program service revenue
$0
Investment income
$875,236
Other revenue
$0
Total assets, end of year
$11,573,936
Total liabilities, end of year
$6,229,996
Net assets or fund balances, end of year
$5,343,940
Program services expenses (Part IX)
$100,200
Management and general expenses
$83,716
Fundraising expenses
$11,210
Program service expenses (Part III)
$100,200

Program services were 51.4% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • KEVIN JENKINS

    PRESIDENT & CEO

    Total calculated
    $260,733
    From this org
    $0
    From related orgs
    $206,569
    Other
    $54,164
    Hours/week
    8 + 32 related

    Schedule J breakdown matched by us

    Base
    $0 + $205,698 related
    Bonus
    $0
    Other
    $0 + $871 related
    Deferred
    $0 + $16,488 related
    Nontaxable benefits
    $0 + $37,676 related
    Filer's total
    $0 + $260,733 related

  • DIANA JANNETTA

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • SCOTT LAMMIE

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • MICHAEL A BRYSON

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • AMY ATKINSON

    SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 1.2 related

  • WILLIAM E STRICKLAND JR

    FOUNDER & EXECUTIVE CHAIRMAN

    Total calculated
    $303,436
    From this org
    $0
    From related orgs
    $219,534
    Other
    $83,902
    Hours/week
    8 + 32 related

    Schedule J breakdown matched by us

    Base
    $0 + $219,213 related
    Bonus
    $0
    Other
    $0 + $321 related
    Deferred
    $0 + $18,000 related
    Nontaxable benefits
    $0 + $65,902 related
    Filer's total
    $0 + $303,436 related

  • MARA BRUCE

    VP & CFO

    Total calculated
    $161,968
    From this org
    $0
    From related orgs
    $149,092
    Other
    $12,876
    Hours/week
    8 + 32 related

    Schedule J breakdown matched by us

    Base
    $0 + $148,894 related
    Bonus
    $0
    Other
    $0 + $198 related
    Deferred
    $0 + $11,912 related
    Nontaxable benefits
    $0 + $964 related
    Filer's total
    $0 + $161,968 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. 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

The filer's explanations (Part III)

PART I, LINE 3
MANCHESTER BIDWELL DEVELOPMENT TRUST DOES NOT COMPENSATE THE CEO WHO IS REPORTED IN PART VII. COMPENSATION IS AWARDED BY MBC PURSUANT TO A PROCESS THAT SATISFIES THE REQUIREMENTS OF THE INTERMEDIATE SANCTION'S REGULATIONS. THE METHODS USED BY MBC MAY INCLUDE A REVIEW CONDUCTED BY AN INDEPENDENT PERSON TO ENSURE PAY PRACTICES ARE REASONABLE WITHIN THE RANGE OF TYPICAL MARKET PRACTICES, AND A SURVEY INCLUDING COMPARABLE DATA. THIS PROCESS IS DOCUMENTED BY MBC. THE SALARY CHANGE IN FISCAL YEAR 2023 FOR THE CEO WAS APPROVED BY AN INDEPENDENT COMMITTEE OF THE BOARD.

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.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

Provenance

Return type
form_990
Tax year
2022
Filed
1 May 2024
IRS schema version
2022v5.0
Source object
202431279349302473

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