Civic Intelligence

Allen County Fort Wayne Development Trust Inc.

990 • Fiscal year 2022 • EIN 35-2090277

Jan 01, 2022 to Dec 31, 2022 • Filed on Nov 15, 2023

Organization ProfileN/A
200 East Main Street Suite 800Fort Wayne, IN 46802

(260) 420-6945

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

12th percentile

0.02x

Higher debt load relative to assets than 12% of similar nonprofits.

2022 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2022

Liabilities / Revenue

13th percentile

0.08x

Higher debt load relative to revenue than 13% of similar nonprofits.

2022 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2022

Net Margin

99th percentile

100%

Higher net margin than 99% of similar nonprofits.

2022 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2022

Top Officer Pay

4th percentile

$0

Higher top officer pay than 4% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2022 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2022

Asset Growth

91st percentile

29%

Faster asset growth than 91% of similar nonprofits.

2022 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2021 to 2022

Revenue Growth

77th percentile

20%

Faster revenue growth than 77% of similar nonprofits.

2022 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets12th percentile

Assets

Up

$113,715,549

Up $25,575,241 (+29%) from 2021

Net Assets

Up

$111,689,566

Up $25,641,533 (+30%) from 2021

Liabilities

Down

$2,025,983

Down $66,292 (-3.2%) from 2021

Revenue And Expenses
Liabilities / Revenue13th percentileNet Margin99th percentile

Revenue

Up

$25,744,288

Up $4,243,325 (+20%) from 2021

Expenses

Down

$102,755

Down $559,232 (-84%) from 2021

Net Income

Up

$25,641,533

Up $4,802,557 (+23%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth91st percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$150M$100M$50M$0Assets 2020: $68,556,632Liabilities 2020: $3,347,575Net Assets 2020: $65,209,0572020Assets 2021: $88,140,308Liabilities 2021: $2,092,275Net Assets 2021: $86,048,0332021Assets 2022: $113,715,549Liabilities 2022: $2,025,983Net Assets 2022: $111,689,5662022Assets 2023: $113,932,337Liabilities 2023: $1,972,050Net Assets 2023: $111,960,2872023Assets 2024: $118,503,391Liabilities 2024: $1,873,098Net Assets 2024: $116,630,2932024

Highlighted filing

2022

Assets$113,715,549
Liabilities$2,025,983
Net Assets$111,689,566
Open 2022 Filing

Operations Trend

Revenue Growth77th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$80M$60M$40M$20M$0Revenue 2020: $65,124,437Expenses 2020: $185,131Net Income 2020: $64,939,3062020Revenue 2021: $21,500,963Expenses 2021: $661,987Net Income 2021: $20,838,9762021Revenue 2022: $25,744,288Expenses 2022: $102,755Net Income 2022: $25,641,5332022Revenue 2023: $376,806Expenses 2023: $106,085Net Income 2023: $270,7212023Revenue 2024: $4,936,978Expenses 2024: $265,968Net Income 2024: $4,671,0102024

Highlighted filing

2022

Revenue$25,744,288
Expenses$102,755
Net Income$25,641,533
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 15, 2023
Return Version
2022v5.0
Gross Receipts
$25,744,288
Mission and Program Overview

Mission

To advance current and future revitalization within the Allen County-Fort Wayne area, by facilitating real estate acquisition, redevelopment, rehabilitation, and/or construction in projects of strategic significance that promote new economic development or redevelopment.

To advance current and future revitalization and promote new economic development or redevelopment in the allen county-fort wayne area.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Program Related$46,985,276$72,431,508▲ $25,446,232
Other Notes and Loans Receivable, Net$40,286,557$40,256,316▼ $30,241
Cash and Non-Interest-Bearing Accounts$708,396$886,928▲ $178,532
Intangible Assets$160,000$139,999▼ $20,001
Prepaid Expenses and Deferred Charges$79$798▲ $719
Savings and Temporary Cash Investments$0$0→ $0
Accounts Receivable$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Land, Buildings, and Equipment, Net$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$88,140,308$113,715,549▲ $25,575,241
Other Assets Total$0$0→ $0
Liabilities
Unsecured Notes Loans Payable$1,793,224$1,724,793▼ $68,431
Mortgage Notes Payable Secured by Investment Property$229,829$229,829→ $0
Accounts Payable and Accrued Expenses$69,222$71,361▲ $2,139
Grants Payable$0$0→ $0
Other Liabilities$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$2,092,275$2,025,983▼ $66,292
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$86,048,033$111,689,566▲ $25,641,533
Net Assets With Donor Restrictions$0$0→ $0
Total Net Assets Fund Balance$86,048,033$111,689,566▲ $25,641,533
Total Liabilities and Net Assets / Fund Balance$88,140,308$113,715,549▲ $25,575,241

Asset Categories

AssetBook ValueDepreciationBasis
Investment Program Related Org$72,195,605--
Compensation and Service Providers
Top Officer Pay4th percentile

Board Members and Trustees

NameTitle
Robert S WaltersPresident
Michael J Erler SrVice President
Charles HeinyDirector
Damian GosheffDirector
Ellen CutterDirector
Heather Presley-cowenDirector
Karl BandemerDirector
Kylee ShireyDirector
Richard BeckDirector
Tim SmithDirector
Trois HartSecretary
Susan WesnerTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,656
Program Service Revenue
$25,742,630
Investment Income
$2
Other Revenue
$0
All Other Contributions
$1,656
Change in Net Assets
$25,641,533
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$102,755
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Legal$27,888$9,341$0$37,229
Interest$25,799--$25,799
Depreciation Depletion$20,000--$20,000
Fees for Services Accounting-$9,517-$9,517
Insurance$4,067$4,705-$8,772
Other Expenses$997$270-$997
Office Expenses-$171-$171
Total Functional Expenses$78,751$24,004$0$102,755
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“The form 990 is reviewed by an independent accounting firm and the treasurer. Following these reviews, the form 990 is provided to and approved by the board of directors prior to filing.”

Form 990, Part VI, Section B, Line 12C

“All board members and officers are required to complete a conflict of interest statement. During board discussions, an interested person must immediately disclose the existence of a possible or actual conflict of interest. The director with a disclosable interest is given the opportunity to disclose all material facts to the board of directors. If the board of directors has reasonable cause to believe a person has failed to disclose a disclosable interest, it shall inform such person of the basis for such belief and afford him or her an opportunity to explain the alleged failure to disclose. If, after hearing the person's response and after making further investigation as warranted by the circumstances, the board of directors determines the person has failed to disclose a disclosable interest, a majority of the disinterested members of the board of directors shall determine the appropriate corrective action to be taken. The purpose is to ensure the corporation operates in a manner consistent with charitable purposes and does not engage in activities that could jeopardize its tax-exempt status.”

Filing and Contact Details

Filer

Filer Name
Allen County Fort Wayne Development Trust
EIN
35-2090277
In Care Of
% SUSAN WESNER
Phone
2604206945
Address
200 EAST MAIN STREET SUITE 800, FORT WAYNE, IN 46802

Signing Officer

Name
Susan Wesner CPA
Title
Treasurer
Phone
2604206945
Signed
2023-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Robert S Walters
Formed
2011
Legal Domicile
In
Voting Board Members
11
Independent Board Members
11
Employees
0
Volunteers
15

Preparer

Firm
Forvis Llp
Address
111 E Wayne St Suite 600, Fort Wayne, IN 46802
Preparer
Anne E White
Phone
2604604000
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IRS990/PrincipalOfficerNm0ROBERT S WALTERS
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FORM 990 IS REVIEWED BY AN INDEPENDENT ACCOUNTING FIRM AND THE TREASURER. FOLLOWING THESE REVIEWS, THE FORM 990 IS PROVIDED TO AND APPROVED BY THE BOARD OF DIRECTORS PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ALL BOARD MEMBERS AND OFFICERS ARE REQUIRED TO COMPLETE A CONFLICT OF INTEREST STATEMENT. DURING BOARD DISCUSSIONS, AN INTERESTED PERSON MUST IMMEDIATELY DISCLOSE THE EXISTENCE OF A POSSIBLE OR ACTUAL CONFLICT OF INTEREST. THE DIRECTOR WITH A DISCLOSABLE INTEREST IS GIVEN THE OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS TO THE BOARD OF DIRECTORS. IF THE BOARD OF DIRECTORS HAS REASONABLE CAUSE TO BELIEVE A PERSON HAS FAILED TO DISCLOSE A DISCLOSABLE INTEREST, IT SHALL INFORM SUCH PERSON OF THE BASIS FOR SUCH BELIEF AND AFFORD HIM OR HER AN OPPORTUNITY TO EXPLAIN THE ALLEGED FAILURE TO DISCLOSE. IF, AFTER HEARING THE PERSON'S RESPONSE AND AFTER MAKING FURTHER INVESTIGATION AS WARRANTED BY THE CIRCUMSTANCES, THE BOARD OF DIRECTORS DETERMINES THE PERSON HAS FAILED TO DISCLOSE A DISCLOSABLE INTEREST, A MAJORITY OF THE DISINTERESTED MEMBERS OF THE BOARD OF DIRECTORS SHALL DETERMINE THE APPROPRIATE CORRECTIVE ACTION TO BE TAKEN. THE PURPOSE IS TO ENSURE THE CORPORATION OPERATES IN A MANNER CONSISTENT WITH CHARITABLE PURPOSES AND DOES NOT ENGAGE IN ACTIVITIES THAT COULD JEOPARDIZE ITS TAX-EXEMPT STATUS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
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IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt0DDT HOLDINGS LLC

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$113,715,549
Liabilities
$2,025,983
Net assets
$111,689,566
Revenue
$25,744,288
Expenses
$102,755
Net income
$25,641,533
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$119$1.87$117$4.94$0.27$4.67
2023Detailed filing. Detailed filing data is available for this year.$114$1.97$112$0.38$0.11$0.27
2022Detailed filing. Detailed filing data is available for this year.$114$2.03$112$25.7$0.10$25.6
2021Detailed filing. Detailed filing data is available for this year.$88.1$2.09$86.0$21.5$0.66$20.8
2020Detailed filing. Detailed filing data is available for this year.$68.6$3.35$65.2$65.1$0.19$64.9