Live the Dream Development INC FY2021 filing

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To promote economic Development and enhance affordable housing in the community of bowling green and warren county, kentucky and to otherwise improve the quality of life in the areas for targeted low-income residents in the areas.

501(c)(3) charity; gifts are tax-deductible.
94¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $1.6M a year · 64% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
94%
of spending
Looks good: 94% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
4 mo
of spending, in cash
Plus $4.8M in investments, Pt X · Ln 11–13
Looks good: 4.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $15K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$7.3M
92% of total assets
Concern: liabilities are 92% of assets; over 80%.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$594K
+13% vs prior year
Spent
$490K
To programs
94%
Net assets
$619K
By yearFY2020–FY2024
Revenue
$594K
FY2021▲ +13%
Tap a bar for its year
Revenue by fiscal year
FY2020$528K
FY2021$594K
FY2022$1.8M
FY2023$4.4M
FY2024$5.6M
Expenses
$490K
FY2021▲ +22%
Tap a bar for its year
Expenses by fiscal year
FY2020$402K
FY2021$490K
FY2022$1.3M
FY2023$1.7M
FY2024$709K
Net assets
$619K
FY2021▲ +10%
Tap a bar for its year
Net assets by fiscal year
FY2020$563K
FY2021$619K
FY2022$1.0M
FY2023$3.7M
FY2024$7.8M

From the FY2021 Form 990 · figures checked against the IRS filing · see the original

990 PDF Claim
You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Aug 2004.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

94 cents of each dollar spent went to programs.

Program services 94% · $463K Management & general 6% · $28K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Something off? Claim to add context

Who runs it and what they're paid

5 people listed on the 990.

Part VII, Section A · reportable compensation
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Chairman
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Secretary/Tr
$0Pt VII · Sec A
See Live the Dream Development INC executive salaries →

Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Boosts local economy and affordable housing for low-income residents in Bowling Green and Warren County.

Questions for Live the Dream Development INC

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1 program · $463K · in their own filed words · FY2021
01

To promote economic development and enhance affordable housing in the community of bowling green and warren county, kentucky and to otherwise improve the quality of life in the area. Services include buying and rehabilitating homes to sell to their targeted population groups under the federal hud guidelines, as well as, teaching home…

$463Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2023
Total grants receivedfrom 1 funder$15K

Federal money

Single Audit · Federal Audit Clearinghouse · money spent from federal programs
Year ending Dec 2024 · $2.3M federal money spent
Community Development Block Grants/State's Program and Non-Entitlement Grants in HawaiiDepartment of Housing and Urban Development · ALN 14.228 · Through City of Bowling Green$1.4M
Coronavirus State and Local Fiscal Recovery FundsDepartment of the Treasury · ALN 21.027 · Through Warren County, Kentucky$978K
Housing Counseling Assistance ProgramDepartment of Housing and Urban Development · ALN 14.169 · Direct$5K

The auditor reported no findings.

Year ending Dec 2023 · $1.7M federal money spent
Community Development Block Grants/State's Program and Non-Entitlement Grants in HawaiiDepartment of Housing and Urban Development · ALN 14.228 · Through City of Bowling Green, KY and 1 more$1.6M
Coronavirus State and Local Fiscal Recovery FundsDepartment of the Treasury · ALN 21.027 · Through Warren County, Kentucky$22K
Housing Counseling Assistance ProgramDepartment of Housing and Urban Development · ALN 14.169 · Through City of Bowling Green, KY$4K

The auditor reported: a material weakness in money controls.

Year ending Dec 2022 · $1.4M federal money spent
Community Development Block Grants/State's Program and Non-Entitlement Grants in HawaiiDepartment of Housing and Urban Development · ALN 14.228 · Through Warren County, Kentucky$900K
Community Development Block Grants/Entitlement GrantsDepartment of Housing and Urban Development · ALN 14.218 · Through City of Bowling Green, Kentucky$234K
Home Investment Partnerships ProgramDepartment of Housing and Urban Development · ALN 14.239 · Through Kentucky Housing Corporation$213K
Housing Counseling Assistance ProgramDepartment of Housing and Urban Development · ALN 14.169 · Direct$4K

The auditor reported no findings.

Year ending Dec 2021 · $1.0M federal money spent
Community Development Block Grants/State's Program and Non-Entitlement Grants in HawaiiDepartment of Housing and Urban Development · ALN 14.228 · Through Warren County, Kentucky$1.0M
Housing Counseling Assistance ProgramDepartment of Housing and Urban Development · ALN 14.169 · Direct$6K

The auditor reported no findings.

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$594K
Ln 12
Gifts and grantsLn 1h$327K
Fees for servicesLn 2g$167K
Other incomeLn 4–11$100K
Money outPt IX
$490K
Ln 25
Programscol B$463K
Managementcol C$28K
Owns and owesPt X
$619K
net assets · Ln 32
Cash and savingsLn 1–2$184K
Total assetsLn 16$7.9M
LiabilitiesLn 26$7.3M
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$327K
Government grantsLn 1e$252K
Fees for servicesLn 2g$167K
Investment incomeLn 3$287
Other incomeLn 4–11$100K
Total revenueLn 12$594K
Assets in detailPt X, end of year
CashLn 1$184K
Cash and savings togetherLn 1–2$184K
InvestmentsLn 11–13$4.8M
Land, buildings, equipmentLn 10c$2.8M
Total assetsLn 16$7.9M
LiabilitiesLn 26$7.3M
Net assetsLn 32$619K
OperationsPt I, VI
EmployeesI 51
VolunteersI 610
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$353K$184K
InvestmentsLn 11–13$4.1M$4.8M
Land, buildings, equipmentLn 10c$2.9M$2.8M
Total assetsLn 16$7.3M$7.9M
LiabilitiesLn 26$6.8M$7.3M
Net assetsLn 32$563K$619K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$3K$3K
Other employee benefitsLn 9$735$735
Payroll taxesLn 10$224$224
Accounting feesLn 11c$28K$28K
OccupancyLn 16$541$541
InterestLn 20$67K$67K
Depreciation, depletion and amortizationLn 22$110K$110K
InsuranceLn 23$8K$8K
Other expenses (24a–d)Ln 24$273K$273K
All other expensesLn 24e$800$800
Total functional expensesLn 25$490K$463K$28K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 LatestFiled with the IRS Nov 17, 2025 $5.6M$709K$4.9M$7.8M 990 PDF
FY2023Filed with the IRS Nov 14, 2024 $4.4M$1.7M$2.7M$3.7M 990 PDF
FY2022Filed with the IRS Nov 15, 2023 $1.8M$1.3M$416K$1.0M 990 PDF
FY2021 ViewingFiled with the IRS Nov 15, 2022 $594K$490K$104K$619K 990 PDF
FY2020Filed with the IRS Nov 15, 2021 $528K$402K$125K$563K 990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2021 990 (6 parts)
Part I · Summary $593,901 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $192,567$326,566
I-9 Program service revenuePrior year $334,605$167,048
I-10 Investment incomePrior year $656$287
I-11 Other revenue$100,000
I-12 Total revenuePrior year $527,828$593,901
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $3,610$3,886
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $398,885$486,435
I-18 Total expensesPrior year $402,495$490,321
I-19 Revenue less expensesPrior year $125,333$103,580
Part VI · Governance 5 of 5 board members independent, 1 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $593,901 across 7 lines filed
VIII-1e Government grants$252,316
VIII-1f All other contributions, gifts and grants$74,250
VIII-1h Total contributions, gifts and grants$326,566
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $167,048$167,048
VIII-3 Investment incomeRelated to mission $287$287
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $100,000$100,000
VIII-12 Total revenueRelated to mission $167,335 · Excluded from tax $100,000$593,901
Part IX · Statement of functional expenses $490,321 across 10 lines filed
IX-7 Other salaries and wagesPrograms $2,927$2,927
IX-9 Other employee benefitsPrograms $735$735
IX-10 Payroll taxesPrograms $224$224
IX-11c Accounting feesManagement $27,584$27,584
IX-16 OccupancyPrograms $541$541
IX-20 InterestPrograms $67,024$67,024
IX-22 Depreciation, depletion and amortizationPrograms $109,543$109,543
IX-23 InsurancePrograms $8,340$8,340
IX-24 Other expenses (24a–d)Programs $272,603$272,603
IX-24e All other expensesPrograms $800$800
IX-25 Total functional expensesPrograms $462,737 · Management $27,584 · Fundraising $0$490,321
Part X · Balance sheet $7,932,385 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $353,480$183,956
X-4 Accounts receivable$131,940
X-10c Land, buildings and equipment, netStart of year $2,895,709$2,786,166
X-13 Program-related investmentsStart of year $4,091,687$4,830,323
X-16 Total assetsStart of year $7,340,876$7,932,385
X-17 Accounts payable and accrued expensesStart of year $9,877$132,475
X-25 Other liabilitiesStart of year $388,178$385,690
X-26 Total liabilitiesStart of year $6,778,334$7,313,158
X-27 Net assets without donor restrictionsStart of year $562,542$619,227
X-32 Total net assets or fund balancesStart of year $562,542$619,227
X-33 Total liabilities and net assetsStart of year $7,340,876$7,932,385
Part XI · Reconciliation of net assets $619,227 net assets at year end
XI-1 Total revenue$593,901
XI-2 Total expenses$490,321
XI-3 Revenue less expenses$103,580
XI-4 Net assets at start of year$562,542
XI-9 Other changes in net assets−$46,895
XI-10 Net assets at end of year$619,227

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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