← GOODWILL OF NORTH GEORGIA DEVELOPMENT COMPANY II INC

Form 990 for tax year 2022

Filed by GOODWILL OF NORTH GEORGIA DEVELOPMENT COMPANY II INC.

Totals

Total revenue: $102,500
Total expenses: $538,345
Contributions and grants received: $0
Grants paid: $0
Program service revenue: $102,500
Investment income: $0
Other revenue: $0
Total assets, end of year: $11,168,828
Total liabilities, end of year: $11,687,985
Net assets or fund balances, end of year: -$519,157
Program services expenses (Part IX): $538,345
Management and general expenses: $0
Fundraising expenses: $0
Program service expenses (Part III): $538,345

Program services were 100.0% 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: PROGRAM REVENUE

total $102,500 · related or exempt $102,500
3 · Investment income

total $0
4 · Income from investment of tax-exempt bond proceeds

total $0
5 · Royalties

total $0
6c · Rental income or loss

real property $0 · personal property $0
6d · Net rental income or loss

total $0
7d · Net gain or loss

total $0
8a · Fundraising events: gross income

$0
8b · Fundraising events: direct expenses

$0
8c · Net income from fundraising events

total $0
9a · Gaming: gross income

$0
9b · Gaming: direct expenses

$0
9c · Net income from gaming

total $0
10a · Gross sales of inventory

$0
10b · Cost of goods sold

$0
10c · Net income from sales of inventory

total $0
11e · Other revenue, total

$0

Functional expenses

Part IX, the statement of functional expenses.

1 · Grants to domestic organizations and governments

total $0
2 · Grants to domestic individuals

total $0
3 · Grants to foreign organizations and individuals

total $0
4 · Benefits paid to or for members

total $0
5 · Compensation of officers, directors and key employees

total $0
6 · Compensation of disqualified persons

total $0
7 · Other salaries and wages

total $0
8 · Pension plan contributions

total $0
9 · Other employee benefits

total $0
10 · Payroll taxes

total $0
11a · Fees: management

total $0
11b · Fees: legal

total $0
11c · Fees: accounting

total $12,000 · program services $12,000 · management and general $0 · fundraising $0
11d · Fees: lobbying

total $0
11e · Fees: professional fundraising services

total $0
11f · Fees: investment management

total $0
11g · Fees: other

total $40,000 · program services $40,000 · fundraising $0
12 · Advertising and promotion

total $0
13 · Office expenses

total $0
14 · Information technology

total $0
15 · Royalties

total $0
16 · Occupancy

total $0
17 · Travel

total $0
18 · Travel or entertainment for public officials

total $0
19 · Conferences, conventions and meetings

total $0
20 · Interest

total $65,335 · program services $65,335 · management and general $0 · fundraising $0
21 · Payments to affiliates

total $0
22 · Depreciation, depletion and amortization

total $421,010 · program services $421,010 · management and general $0 · fundraising $0
23 · Insurance

total $0

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $663,398 · end of year $391,111
2 · Savings and temporary cash investments

beginning of year $0 · end of year $0
3 · Pledges and grants receivable

beginning of year $0 · end of year $0
4 · Accounts receivable

beginning of year $0 · end of year $0
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
7 · Other notes and loans receivable

beginning of year $0 · end of year $0
8 · Inventories for sale or use

beginning of year $0 · end of year $0
9 · Prepaid expenses and deferred charges

beginning of year $0 · end of year $0
10a · Land, buildings and equipment: cost or other basis

$11,424,600
10b · Land, buildings and equipment: accumulated depreciation

$646,883
10c · Land, buildings and equipment, net

beginning of year $10,458,016 · end of year $10,777,717
11 · Investments: publicly traded securities

beginning of year $0 · end of year $0
12 · Investments: other securities

beginning of year $0 · end of year $0
13 · Investments: program-related

beginning of year $0 · end of year $0
14 · Intangible assets

beginning of year $0 · end of year $0
15 · Other assets

beginning of year $0 · end of year $0
17 · Accounts payable and accrued expenses

beginning of year $1,890,724 · end of year $1,840,485
18 · Grants payable

beginning of year $0 · end of year $0
19 · Deferred revenue

beginning of year $0 · end of year $0
20 · Tax-exempt bond liabilities

beginning of year $0 · end of year $0
21 · Escrow or custodial account liability

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 $0 · end of year $0
24 · Unsecured notes and loans payable

beginning of year $9,314,002 · end of year $9,847,500
25 · Other liabilities

beginning of year $0 · end of year $0
27 · Net assets without donor restrictions

beginning of year -$83,312 · end of year -$519,157
28 · Net assets with donor restrictions

beginning of year $0 · end of year $0

Mission and programs · 2022

Mission

SUPPORTING ORGANIZATION THAT IS OPERATED EXCLUSIVELY FOR THE BENEFIT OF, TO PERFORM THE FUNCTIONS OF, OR TO CARRY OUT THE PURPOSES, AND/OR ACTIVITIES OF GOODWILL OF NORTH GEORGIA (GNG). SPECIFICALLY TO DEVELOP AND HOLD REAL ESTATE FOR GNG.

Activities or mission (Part I)

SUPPORTING ORGANIZATION THAT IS OPERATED EXCLUSIVELY FOR THE BENEFIT OF, TO PERFORM THE FUNCTIONS OF, OR TO CARRY OUT THE PURPOSES, AND/OR ACTIVITIES OF GNG.

THE COMPANY, IN AN EFFORT TO ENABLE ITS SUPPORTED PUBLIC CHARITABLE ORGANIZATION, GOODWILL OF NORTH GEORGIA, INC., A GEORGIA NONPROFIT CORPORATION (GOODWILL), TO BETTER ACCOMPLISH ITS CHARITABLE MISSION OF ENHANCING THE DIGNITY AND QUALITY OF LIFE OF INDIVIDUALS, FAMILIES, AND COMMUNIITES BY ELIMINATING BARRIERS TO OPPORTUNITY AND HELPING PEOPLE IN NEED REACH THEIR FULL POTENTIAL THROUGH THE POWER OF WORK CONSTRUCTED, RENOVATED, AND INSTALLED CERTAIN IMPROVEMENTS ON THE REAL PROPERTY LOCATED AT 2160 METROPOLITAN PARKWAY SW, ATLANTA, GEORGIA 30315 (COLLECTIVELY, THE FACILITY) FOR GOODWILL'S USE TO CONDUCT ITS CHARITABLE PURPOSE. THE FACILITY ENABLES GOODWILL TO OPERATE A CAREER AND JOB TRAINING CENTER AND A RETAIL STORE. THE COMPANY ENTERED INTO AN OPERATING LEASE WITH GOODWILL PURSUANT TO WHICH, IN ADDITION TO THE CONSTRUCTION, RENOVATION , AND INSTALLATION OF IMPROVEMENTS, THE COMPANY PROVIDES ONGOING MAINTENANCE AND MANAGEMENT SERVICES RELATED TO THE FACILITY. IN DOING SO, THE COMPANY ALLOWS GOODWILL TO DEDICATE ADDITIONAL TIME AND RESOURCES TO ITS CORE MISSION AND CHARITABLE PURPOSE. THE COMPANY PERFORMS THESE SERVICES EXCLUSIVELY FOR GOODWILL, ITS DESIGNATED PUBLICLY SUPPORTED CHARITABLE ORGANIZATION. AS A SUPPORTING ORGANIZATION WITHIN THE MEANING OF SECTION 509(A)(3) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE CODE), NET INCOME OF THE COMPANY AFTER ALLOWANCE FOR MAINTENANCE AND REPLACEMENT RESERVES, IF ANY , WILL ULTIMATELY BE CONTRIBUTED TO GOODWILL. THE COMPANY FUNDED THE CONSTRUCTION, RENOVATION, AND INSTALLATION OF THE FACILITY WITH A LOAN MADE POSSIBLE BY THE NEW MARKETS TAX CREDIT PROGRAM WITHIN SECTION 45D OF THE CODE AND THE EFFORTS OF A COMMUNITY DEVELOPMENT ENTITY, AEMI FUND XXV, LLC, A GEORGIA LIMITED LIABILITY COMPANY, WHICH ALLOWED GOODWILL TO MAXIMIZE ITS POSITIVE IMPACT. THE COMPANY CONTRIBUTES EXCESS FUNDS CONTRIBUTED TO OR USED IN BENEFIT OF ITS ACTIVITIES, IF ANY, TO GOODWILL.

Expenses $538,345 · Revenue $102,500

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

Keith ParkerKEITH PARKER

PRESIDENT

Total calculated

$898,125

From this org

$0

From related orgs

$856,175

Other

$41,950

Hours/week

3 + 37 related

Schedule J breakdown matched by us

Base

$0 + $698,937 related

Bonus

$0 + $157,238 related

Other

$0

Deferred

$0 + $10,451 related

Nontaxable benefits

$0 + $36,401 related

Filer's total

$0 + $903,027 related
Mariangela CoralesMARIANGELA CORALES

SECRETARY

Total calculated

$442,713

From this org

$0

From related orgs

$420,902

Other

$21,811

Hours/week

2 + 38 related

Schedule J breakdown matched by us

Base

$0 + $236,012 related

Bonus

$0 + $52,538 related

Other

$0 + $132,352 related

Deferred

$0 + $5,810 related

Nontaxable benefits

$0 + $17,011 related

Filer's total

$0 + $443,723 related
Timothy O'ConnellTIMOTHY O'CONNELL

TREASURER

Total calculated

$347,031

From this org

$0

From related orgs

$345,363

Other

$1,668

Hours/week

2 + 38 related

Schedule J breakdown matched by us

Base

$0 + $282,130 related

Bonus

$0 + $38,094 related

Other

$0 + $25,139 related

Deferred

$0 + $1,668 related

Nontaxable benefits

$0 + $4,902 related

Filer's total

$0 + $351,933 related
Allen PhinneyALLEN PHINNEY

DIRECTOR

Total calculated

$0

Hours/week

0.25
Rukiya ThomasRUKIYA THOMAS

DIRECTOR

Total calculated

$0

Hours/week

0.25

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

4b · Supplemental nonqualified retirement plan
7 · Other non-fixed payments

Answered no

4a · Severance or change-of-control payment
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
8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Schedule J, Part I, line 4b: THE 457(F) PLAN BEGINS TO PAYOUT FOLLOWING A VESTING PERIOD THAT VARIES BY OFFICER YEARS OF SERVICE. THE LAST VESTED PAYOUT WILL BE IN FISCAL 2023. THE FOLLOWING PEOPLE PARTICIPATED IN THE PLAN: TIM O'CONNELL, AND MARIANGELA CORALES.
Schedule J, Part I, line 7: Non-fixed payments: EACH YEAR, THE COMPENSATION COMMITTEE OF THE BOARD, WITH THE ASSISTANCE OF AN INDEPENDENT COMPENSATION CONSULTANT (EVERY OTHER YEAR), EVALUATES THE COMPENSATION OF THE PRESIDENT AND OTHER OFFICERS BY REVIEWING OUTSIDE MARKET DATA OF OTHER ORGANIZATIONS OF SIMILAR SIZES AND REVENUE. THE COMMITTEE LOOKS AT NATIONAL DATA PLUS LOCAL NONPROFIT DATA.

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

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.

GOODWILL OF NORTH GA INC

501(C)(3) · JOB PLACEMENT · GA

Directly controlled by NA

Provenance

Return type: form_990
Tax year: 2022
Filed: 15 May 2024
IRS schema version: 2022v5.0
Source object: 202401369349314905

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