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Nonprofiteer
← MORAVIAN DEVELOPEMENT CORP

Form 990 for tax year 2023

Filed by MORAVIAN DEVELOPEMENT CORP.

Totals

Total revenue
$1,370,732
Total expenses
$569,549
Contributions and grants received
$0
Grants paid
$60,000
Program service revenue
$1,210,982
Investment income
$134,863
Other revenue
$24,887
Total assets, end of year
$14,701,515
Total liabilities, end of year
$272,354
Net assets or fund balances, end of year
$14,429,161
Program services expenses (Part IX)
$60,000
Management and general expenses
$509,549
Fundraising expenses
$0
Program service expenses (Part III)
$60,000

Program services were 10.5% 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.

  • 2a · Program service revenue: County Service Grant for Senior Center Operations

    total $37,722 · related or exempt $37,722 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: HUD Section 8 Funding for Elderly Housing

    total $1,173,260 · related or exempt $1,173,260 · unrelated business $0 · excluded $0

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $134,863 · related or exempt $134,863 · unrelated business $0 · excluded $0

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 5 · Royalties

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6a · Gross rents

    real property $2,202,078 · personal property $0

  • 6b · Less rental expenses

    real property $3,062,009 · personal property $0

  • 6c · Rental income or loss

    real property -$859,931 · personal property $0

  • 6d · Net rental income or loss

    total -$859,931 · related or exempt -$859,931 · unrelated business $0 · excluded $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 11a · Other revenue: Unrealized Gain on Investments

    total $884,818 · related or exempt $884,818 · unrelated business $0 · excluded $0

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $884,818

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $60,000 · program services $60,000

  • 11a · Fees: management

    total $405,859 · management and general $405,859

  • 11c · Fees: accounting

    total $33,850 · management and general $33,850

  • 13 · Office expenses

    total $69,840 · management and general $69,840

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $633,758 · end of year $1,171,845

  • 2 · Savings and temporary cash investments

    beginning of year $1,153,597 · end of year $775,910

  • 4 · Accounts receivable

    beginning of year $12,714 · end of year $12,697

  • 7 · Other notes and loans receivable

    beginning of year $694,975 · end of year $900,000

  • 9 · Prepaid expenses and deferred charges

    beginning of year $130,280 · end of year $132,525

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

    $17,568,587

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

    $11,948,636

  • 10c · Land, buildings and equipment, net

    beginning of year $6,242,584 · end of year $5,619,951

  • 11 · Investments: publicly traded securities

    beginning of year $5,208,783 · end of year $6,224,399

  • 12 · Investments: other securities

    beginning of year -$76,050 · end of year -$135,812

  • 17 · Accounts payable and accrued expenses

    beginning of year $218,432 · end of year $118,419

  • 19 · Deferred revenue

    beginning of year $715

  • 25 · Other liabilities

    beginning of year $153,516 · end of year $153,935

  • 27 · Net assets without donor restrictions

    beginning of year $13,627,978 · end of year $14,429,161

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $0

Mission and programs · 2023

Mission

The Moravian Development Corporation's mission is to plan, construct, rehabilitate, improve, maintain, operate, and rent housing for lower income families, the elderly and handicapped families on a nonprofit basis.

Activities or mission (Part I)

The Moravian Development Corporation's mission is to plan, construct, rehabilitate, improve, maintain, operate, and rent housing for lower income families, the elderly and the disabled on a nonprofit basis.

  • All costs associated with the operation and renting of housing to low income, elderly and handicapped individuals are reflected on Form 990 as rental expenditures and not program costs. Program costs consist of grants to other not for profit entities to support their mission outreach.

    Expenses $60,000 · Grants $60,000 · Revenue $4,432,741

As filed on the 2023 return.

Listed in Part VII

  • Brad Senick

    Exe Vice President MDC

    Total calculated
    $94,660
    From this org
    $94,660
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Mike Garganta

    Vice President of MDC

    Total calculated
    $85,150
    From this org
    $85,150
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Tracy Patton

    Director

    Total calculated
    $0
    Hours/week
    1

  • Tom Demshock

    Director

    Total calculated
    $0
    Hours/week
    1

  • Carol Henn

    Director

    Total calculated
    $0
    Hours/week
    1

  • Kevin Kelleher

    Director

    Total calculated
    $0
    Hours/week
    1

  • Blair Bates

    Director

    Total calculated
    $0
    Hours/week
    1

  • Audra Kahr

    Board Vice President

    Total calculated
    $0
    Hours/week
    1

  • Mike Long

    Board President

    Total calculated
    $0
    Hours/week
    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

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.

Provenance

Return type
form_990
Tax year
2023
Filed
12 February 2024
IRS schema version
2023v4.0
Source object
202410509349300516

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