Civic Intelligence

Allen County Fort Wayne Development Trust Inc.

990 • Fiscal year 2021 • EIN 35-2090277

Jan 01, 2021 to Dec 31, 2021 • Filed on Nov 15, 2022

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

17th percentile

0.02x

Higher debt load relative to assets than 17% of similar nonprofits.

2021 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2021

Liabilities / Revenue

20th percentile

0.10x

Higher debt load relative to revenue than 20% of similar nonprofits.

2021 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2021

Net Margin

99th percentile

97%

Higher net margin than 99% of similar nonprofits.

2021 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2021

Top Officer Pay

6th percentile

$0

Higher top officer pay than 6% of similar nonprofits.

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

2021 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2021

Asset Growth

81st percentile

29%

Faster asset growth than 81% of similar nonprofits.

2021 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2020 to 2021

Revenue Growth

2nd percentile

-67%

Faster revenue growth than 2% of similar nonprofits.

2021 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets17th percentile

Assets

Up

$88,140,308

Up $19,583,676 (+29%) from 2020

Net Assets

Up

$86,048,033

Up $20,838,976 (+32%) from 2020

Liabilities

Down

$2,092,275

Down $1,255,300 (-37%) from 2020

Revenue And Expenses
Liabilities / Revenue20th percentileNet Margin99th percentile

Revenue

Down

$21,500,963

Down $43,623,474 (-67%) from 2020

Expenses

Up

$661,987

Up $476,856 (+258%) from 2020

Net Income

Down

$20,838,976

Down $44,100,330 (-68%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth81st 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

2021

Assets$88,140,308
Liabilities$2,092,275
Net Assets$86,048,033
Open 2021 Filing

Operations Trend

Revenue Growth2nd 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

2021

Revenue$21,500,963
Expenses$661,987
Net Income$20,838,976
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Nov 15, 2022
Return Version
2021v4.2
Gross Receipts
$21,500,963
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$26,434,350$46,985,276▲ $20,550,926
Other Notes and Loans Receivable, Net$2,727,180$40,286,557▲ $37,559,377
Savings and Temporary Cash Investments$38,921,200$0▼ $38,921,200
Cash and Non-Interest-Bearing Accounts$293,322$708,396▲ $415,074
Intangible Assets$180,000$160,000▼ $20,000
Prepaid Expenses and Deferred Charges$580$79▼ $501
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$68,556,632$88,140,308▲ $19,583,676
Other Assets Total$0$0→ $0
Liabilities
Unsecured Notes Loans Payable$3,029,970$1,793,224▼ $1,236,746
Mortgage Notes Payable Secured by Investment Property$229,829$229,829→ $0
Accounts Payable and Accrued Expenses$87,776$69,222▼ $18,554
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$3,347,575$2,092,275▼ $1,255,300
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$65,209,057$86,048,033▲ $20,838,976
Net Assets With Donor Restrictions$0$0→ $0
Total Net Assets Fund Balance$65,209,057$86,048,033▲ $20,838,976
Total Liabilities and Net Assets / Fund Balance$68,556,632$88,140,308▲ $19,583,676

Asset Categories

AssetBook ValueDepreciationBasis
Investment Program Related Org$46,749,373--
Compensation and Service Providers
Top Officer Pay6th percentile

Board Members and Trustees

NameTitle
Robert S WaltersPresident
Michael J Erler SrVice President
Charlie HeinyDirector
Damian GosheffDirector
Heather Presley-cowenDirector
Karl BandemerDirector
Kylee ShireyDirector
Maclyn ParkerDirector
Rich BeckDirector
Tim SmithDirector
Trois HartSecretary
Susan WesnerTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Moss AdamsProfessional Service999 THIRD AVE STE 2800, Seattle, WA 98104$538,784
Revenue and Support

Revenue Composition

Contributions and Grants
$21
Program Service Revenue
$21,494,706
Investment Income
$6,236
Other Revenue
$0
All Other Contributions
$21
Change in Net Assets
$20,838,976
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$661,987
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 Other$538,784--$538,784
Fees for Services Legal$38,151$11,871$0$50,022
Interest$28,447--$28,447
Depreciation Depletion$20,001--$20,001
Fees for Services Accounting-$17,867-$17,867
Insurance$25$965-$990
Other Expenses$5,216$660-$660
Total Functional Expenses$630,624$31,363$0$661,987
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
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
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
2022-11-15
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
14

Preparer

Firm
Forvis Llp
Address
111 E Wayne St Suite 600, Fort Wayne, IN 46802
Preparer
Anne E White
Phone
2604604000
Supplemental Narrative

Additional Explanations

Form 990 Part IX Line 11G

“Description:accounting & invest mgmt serv. Total fees:538784”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/InventoriesForSaleOrUseGrp/EOYAmt00
IRS990/InvestmentIncomeGrp/ExclusionAmt066
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt066
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IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt00
IRS990/InvestmentsProgramRelatedGrp/BOYAmt026434350
IRS990/InvestmentsProgramRelatedGrp/EOYAmt046985276
IRS990/InvestmentsPubTradedSecGrp/BOYAmt00
IRS990/InvestmentsPubTradedSecGrp/EOYAmt00
IRS990/IRPDocumentCnt03
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipBasisNetGrp/BOYAmt00
IRS990/LandBldgEquipBasisNetGrp/EOYAmt00
IRS990/LegalDomicileStateCd0IN
IRS990/LessCostOthBasisSalesExpnssGrp/OtherAmt00
IRS990/LoanOutstandingInd0false
IRS990/LoansFromOfficersDirectorsGrp/BOYAmt00
IRS990/LoansFromOfficersDirectorsGrp/EOYAmt00
IRS990/LobbyingActivitiesInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0TO 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.
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt0229829
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt0229829
IRS990/NetAssetsOrFundBalancesBOYAmt065209057
IRS990/NetAssetsOrFundBalancesEOYAmt086048033
IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt06170
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt06170
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeFromGamingGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt065209057
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt086048033
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/TotalAmt00
IRS990/OfficeExpensesGrp/TotalAmt00
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt00
IRS990/OtherAssetsTotalGrp/EOYAmt00
IRS990/OtherEmployeeBenefitsGrp/TotalAmt00
IRS990/OtherExpensesGrp/Desc0AUCTION FEES
IRS990/OtherExpensesGrp/Desc1BANK FEES
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt0660
IRS990/OtherExpensesGrp/ProgramServicesAmt05216
IRS990/OtherExpensesGrp/TotalAmt05216
IRS990/OtherExpensesGrp/TotalAmt1660
IRS990/OtherLiabilitiesGrp/BOYAmt00
IRS990/OtherLiabilitiesGrp/EOYAmt00
IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/TotalAmt00
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt02727180
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt040286557
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/TotalAmt00
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0580
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt079
IRS990/PrincipalOfficerNm0ROBERT S WALTERS
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0531390
IRS990/ProgramServiceRevenueGrp/BusinessCd1531390
IRS990/ProgramServiceRevenueGrp/Desc0INTEREST- NOTES RECEIVABLE
IRS990/ProgramServiceRevenueGrp/Desc1TAX CREDIT SALES
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0285349
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt121209357
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0285349
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt121209357
IRS990/ProgSrvcAccomActy2Grp/Desc0The Trust continued to assist the developer with the $285MM electric works redevelopment project, Phase I, as a minority partner and issuer of certain local bond proceeds and state tax credits thereby allowing the City of Fort Wayne, as to the local bond issuance, to lower its overall interest expense for issuance of its tax free bonds and provide considerable savings to local taxpayers.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0538784
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt021209336
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt065000037
IRS990/PYExcessBenefitTransInd0false
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt02518
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt0185131
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt0121882
IRS990/PYRevenuesLessExpensesAmt064939306
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt0185131
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt065124437
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/BOYAmt00
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/BOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt020838976
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/PersonalAmt00
IRS990/RentalIncomeOrLossGrp/RealAmt00
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0true
IRS990/RevenueAmt0285370
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt038921200
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt021
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt065000037
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt050057
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt05270237
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt03430464
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt073750816
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt066
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt02518
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt02584
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt021616588
IRS990ScheduleA/OtherIncome170Grp/TotalAmt00
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.97929
IRS990ScheduleA/PublicSupportPY170Pct00.97997
IRS990ScheduleA/PublicSupportTotal170Amt072225884
IRS990ScheduleA/SubstantialContributorsTotAmt01524932
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt021
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt065000037
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt050057
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt05270237
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt03430464
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt073750816
IRS990ScheduleA/TotalSupportAmt073753400
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt0235903
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt146749373
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc0REAL ESTATE
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc1EW WEST CAMPUS LANDLORD LLC
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd0C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd1C
IRS990ScheduleD/TotalBookValueProgramRltdAmt046985276
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$88,140,308
Liabilities
$2,092,275
Net assets
$86,048,033
Revenue
$21,500,963
Expenses
$661,987
Net income
$20,838,976
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