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Nonprofiteer
← LARCHWOOD ECONOMIC DEVELOPMENT CORPORATION

Form 990 for tax year 2022

Filed by LARCHWOOD ECONOMIC DEVELOPMENT CORPORATION.

Totals

Total revenue
$214,077
Total expenses
$43,975
Contributions and grants received
$79,798
Grants paid
$21,967
Program service revenue
$0
Investment income
$0
Other revenue
$134,279
Total assets, end of year
$707,878
Total liabilities, end of year
$249,098
Net assets or fund balances, end of year
$458,780
Program services expenses (Part IX)
$43,068
Management and general expenses
$907
Fundraising expenses
$0
Program service expenses (Part III)
$43,068

Program services were 97.9% 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.

  • 1e · Government grants (contributions)

    $79,798

  • 6a · Gross rents

    real property $4,675

  • 6b · Less rental expenses

    real property $378

  • 6c · Rental income or loss

    real property $4,297

  • 6d · Net rental income or loss

    total $4,297 · excluded $4,297

  • 10a · Gross sales of inventory

    $149,943

  • 10b · Cost of goods sold

    $19,961

  • 10c · Net income from sales of inventory

    total $129,982 · related or exempt $129,982

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $21,967 · program services $21,967

  • 11b · Fees: legal

    total $3,790 · program services $3,790

  • 11c · Fees: accounting

    total $595 · management and general $595

  • 13 · Office expenses

    total $312 · management and general $312

  • 16 · Occupancy

    total $1,478 · program services $1,478

  • 20 · Interest

    total $13,786 · program services $13,786

  • 23 · Insurance

    total $1,579 · program services $1,579

  • 24a · Other expenses: MISCELLANEOUS

    total $468 · program services $468

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $14,317 · end of year $24,244

  • 8 · Inventories for sale or use

    beginning of year $673,652 · end of year $683,634

  • 23 · Secured mortgages and notes payable

    beginning of year $399,291 · end of year $249,098

  • 27 · Net assets without donor restrictions

    beginning of year $288,678 · end of year $458,780

Mission and programs · 2022

Mission

TO PROMOTE THE GROWTH OF LARCHWOOD

  • ACQUSITION OF LAND FOR SUBSEQUENT CITY DEVELOPMENT AND SALE TO HOMEOWNERS AND BUSINESSES

    Expenses $21,101 · Revenue $172,473

  • TO PROMOTE AND ASSIST AREA CHILD CARE CENTERS TO ENSURE CHILD CARE AVAILABILITY FOR THE BUSINESSES AND RESIDENTS OF THE LARCHWOOD AREA

    Expenses $21,967 · Grants $21,967 · Revenue $32,000

As filed on the 2022 return.

Listed in Part VII

  • James Van Beek

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1

  • Jesse Niemeyer

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1

  • Bonnie Vanden Bosch

    VICE-PRESIDE

    Total calculated
    $0
    Hours/week
    0.1

  • Morgan Hoogendoorn

    TREASURER

    Total calculated
    $0
    Hours/week
    0.2

  • Steve Michael

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1

  • Jared Vander Sanden

    PRESIDENT

    Total calculated
    $0
    Hours/week
    0.1

  • Elaine Snyders

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.1

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

Provenance

Return type
form_990
Tax year
2022
Filed
13 November 2023
IRS schema version
2022v5.0
Source object
202323199349302497

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