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← TRUE COMMUNITY DEVELOPMENT CORPORATION

Form 990 for tax year 2024

Filed by TRUE COMMUNITY DEVELOPMENT CORPORATION.

Totals

Total revenue
$101,744
Total expenses
$139,507
Contributions and grants received
$72
Grants paid
$0
Program service revenue
$72,027
Investment income
$22
Other revenue
$29,623
Total assets, end of year
$442,290
Total liabilities, end of year
$317,015
Net assets or fund balances, end of year
$125,275
Program services expenses (Part IX)
$124,910
Management and general expenses
$14,597
Fundraising expenses
$0
Program service expenses (Part III)
$124,910

Program services were 89.5% 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.

  • 1f · All other contributions, gifts and grants

    $72

  • 2a · Program service revenue: Rental Fee

    total $72,027 · related or exempt $72,027

  • 3 · Investment income

    total $22 · related or exempt $22

  • 11a · Other revenue: Miscellaneous revenue

    total $29,623 · related or exempt $29,623

  • 11e · Other revenue, total

    $29,623

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $32,285 · program services $29,056 · management and general $3,229

  • 11g · Fees: other

    total $4,303 · program services $2,494 · management and general $1,809

  • 16 · Occupancy

    total $18,693 · program services $16,824 · management and general $1,869

  • 17 · Travel

    total $1,470 · program services $1,470

  • 20 · Interest

    total $20,438 · program services $18,394 · management and general $2,044

  • 22 · Depreciation, depletion and amortization

    total $18,682 · program services $16,814 · management and general $1,868

  • 23 · Insurance

    total $7,921 · program services $7,129 · management and general $792

  • 24a · Other expenses: Other expenses

    total $12,787 · program services $11,510 · management and general $1,277

  • 24b · Other expenses: Repairs & maintenance

    total $12,561 · program services $11,305 · management and general $1,256

  • 24c · Other expenses: Property taxes

    total $5,841 · program services $5,841

  • 24d · Other expenses: Payroll taxes

    total $4,526 · program services $4,073 · management and general $453

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $107,822 · end of year $45,970

  • 4 · Accounts receivable

    end of year $11,474

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

    $530,167

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

    $145,321

  • 10c · Land, buildings and equipment, net

    beginning of year $403,527 · end of year $384,846

  • 17 · Accounts payable and accrued expenses

    beginning of year $727 · end of year $942

  • 23 · Secured mortgages and notes payable

    beginning of year $280,361 · end of year $255,568

  • 24 · Unsecured notes and loans payable

    beginning of year $28,824 · end of year $29,840

  • 25 · Other liabilities

    beginning of year $38,399 · end of year $30,665

  • 27 · Net assets without donor restrictions

    beginning of year $163,038 · end of year $125,275

Mission and programs · 2024

Mission

The mission of the TCDC is to function as a development engine committed to providing faith-based leadership, housing, and human service, which will serve as a foundation for revitalization and restoration of under-served and underutilized communities.

  • Quality and affordable housing.

    Expenses $124,910 · Revenue $101,672

As filed on the 2024 return.

Listed in Part VII

  • Karen Williams

    President

    Total calculated
    $0
    Hours/week
    2

  • Jacqueline Rushton

    VP/ Treasurer

    Total calculated
    $0
    Hours/week
    2

  • Tyana Williams

    Secretary

    Total calculated
    $0
    Hours/week
    2

  • Janice McKinnie

    Executive Director

    Total calculated
    $30,500
    From this org
    $30,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

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.

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.

Disregarded entities

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

  • E Ferry Housing LLC

    Vacant Land · NY

Provenance

Return type
form_990
Tax year
2024
Filed
13 November 2025
IRS schema version
2024v5.2
Source object
202543189349303994

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