Civic Intelligence

Kosciusko Development Land Trust Inc.

990 • Fiscal year 2023 • EIN 85-2875029

Jan 01, 2023 to Dec 31, 2023 • Filed on Sep 19, 2024

Organization ProfileN/A
207 S Buffalo StreetWarsaw, IN 46580

(574) 306-4119

Siviq Scores

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

Liabilities / Assets

90th percentile

0.72x

Higher debt load relative to assets than 90% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

99th percentile

24.23x

Higher debt load relative to revenue than 99% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

1st percentile

-2402%

Higher net margin than 1% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

77th percentile

$125,058

Higher top officer pay than 77% of similar nonprofits.

Top officer pay equals 155.7% of source-year revenue.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

33rd percentile

-0.9%

Faster asset growth than 33% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

1st percentile

-89%

Faster revenue growth than 1% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets90th percentile

Assets

Down

$2,707,478

Down $24,426 (-0.9%) from 2022

Net Assets

Down

$761,600

Down $1,928,741 (-72%) from 2022

Liabilities

Up

$1,945,878

Up $1,904,315 (+4582%) from 2022

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin1st percentile

Revenue

Down

$80,308

Down $682,440 (-89%) from 2022

Expenses

Up

$2,009,049

Up $1,941,130 (+2858%) from 2022

Net Income

Down

-$1,928,741

Down $2,623,570 (-378%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth33rd percentile

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

$3.0M$2.0M$1.0M$0Assets 2021: $2,047,588Liabilities 2021: $52,076Net Assets 2021: $1,995,5122021Assets 2022: $2,731,904Liabilities 2022: $41,563Net Assets 2022: $2,690,3412022Assets 2023: $2,707,478Liabilities 2023: $1,945,878Net Assets 2023: $761,6002023Assets 2024: $1,900,947Liabilities 2024: $363,912Net Assets 2024: $1,537,0352024

Highlighted filing

2023

Assets$2,707,478
Liabilities$1,945,878
Net Assets$761,600
Open 2023 Filing

Operations Trend

Revenue Growth1st percentile

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

$3.0M$2.0M$1.0M$0-$1.0M-$2.0MRevenue 2021: $2,005,764Expenses 2021: $10,252Net Income 2021: $1,995,5122021Revenue 2022: $762,748Expenses 2022: $67,919Net Income 2022: $694,8292022Revenue 2023: $80,308Expenses 2023: $2,009,049Net Income 2023: -$1,928,7412023Revenue 2024: $798,837Expenses 2024: $23,402Net Income 2024: $775,4352024

Highlighted filing

2023

Revenue$80,308
Expenses$2,009,049
Net Income-$1,928,741
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Sep 19, 2024
Return Version
2023v5.0
Gross Receipts
$80,308
Mission and Program Overview

Mission

Serving the needs of the residents of kosciusko county, indiana and surrounding areas by promoting new economic development and redevelopment.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$1,177,000$887,938▼ $289,062
Other Notes and Loans Receivable, Net-$290,000-
Cash and Non-Interest-Bearing Accounts$26,503$1,989▼ $24,514
Accounts Receivable$850--
Total Assets$2,731,904$2,707,478▼ $24,426
Other Assets Total$1,527,551$1,527,551→ $0
Liabilities
Other Liabilities$25,000$1,945,878▲ $1,920,878
Accounts Payable and Accrued Expenses$16,563--
Total Liabilities$41,563$1,945,878▲ $1,904,315
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$681,816$752,875▲ $71,059
Net Assets With Donor Restrictions$2,008,525$8,725▼ $1,999,800
Total Net Assets Fund Balance$2,690,341$761,600▼ $1,928,741
Total Liabilities and Net Assets / Fund Balance$2,731,904$2,707,478▼ $24,426

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$1,527,551--
Compensation and Service Providers
Top Officer Pay77th percentile

Employees

NameTitleFull / Part TimeOtherTotal
Alan TioExecutive DiFT$125,058$125,058

Board Members and Trustees

NameTitle
Jessica BrickerPresident
John WarrenDirector
Stephanie OverbeyDirector
Alan TioExecutive Director
Peggy FridayExecutive Di
Suzanne LightSecretary
Jae DaleTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$79,322
Program Service Revenue
$0
Investment Income
$986
Other Revenue
$0
All Other Contributions
$79,322
Change in Net Assets
$-1,928,741

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Other Non Cash Contri Table2$79,122Anticipated Cash Flows
Total Noncash Contributions2$79,122-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$2,000,000
Other Expenses$9,049
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$2,000,000--$2,000,000
Fees for Services Legal$8,370--$8,370
Fees for Services Accounting$629--$629
Other Expenses$50--$50
Total Functional Expenses$2,009,049$0$0$2,009,049
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Kosciusko County Community FdnWarsaw, IN-Grant Repayment-
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Note Payable - Related Party$1,945,878
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“Form 990 is reviewed and approved by management and distributed to the board before filing.”

Form 990, Page 6, Part VI, Line 12C

“The policy is reviewed annually with all board members and directors. Potential conflicts of interest are identified and the proper procedure to disclose potential conflicts is executed and disclosed.”

Form 990, Page 6, Part VI, Line 19

“Governing documents and conflict of interest policy are available upon request.”

Filing and Contact Details

Filer

Filer Name
Kosciusko Development Land Trust
EIN
85-2875029
Phone
5743064119
Address
207 S BUFFALO STREET, WARSAW, IN 46580

Signing Officer

Name
Peggy Friday
Title
Executive Director
Phone
5713064119
Signed
2024-09-19
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Peggy Friday
Formed
2020
Legal Domicile
In
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
5

Preparer

Firm
Hamil Lehman & England Pc
Address
6404 CONSTITUTION DRIVE, FORT WAYNE, IN 46804
Preparer
Corinna L England CPA
Phone
2604341852
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 3, Part X

“The organization recognizes the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities, based on the technical merits of the positions related to the potential sources of income subject to unrelated business income tax (ubit). There were no unrecognized tax benefits identified or recorded as liabilities for the year ended december 31, 2023.”

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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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE POLICY IS REVIEWED ANNUALLY WITH ALL BOARD MEMBERS AND DIRECTORS. POTENTIAL CONFLICTS OF INTEREST ARE IDENTIFIED AND THE PROPER PROCEDURE TO DISCLOSE POTENTIAL CONFLICTS IS EXECUTED AND DISCLOSED.
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,707,478
Liabilities
$1,945,878
Net assets
$761,600
Revenue
$80,308
Expenses
$2,009,049
Net income
-$1,928,741
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.90$0.36$1.54$0.80$0.02$0.78
2023Detailed filing. Detailed filing data is available for this year.$2.71$1.95$0.76$0.08$2.01$1.93
2022Detailed filing. Detailed filing data is available for this year.$2.73$0.04$2.69$0.76$0.07$0.69
2021Detailed filing. Detailed filing data is available for this year.$2.05$0.05$2.00$2.01$0.01$2.00