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Main Development Group INC FY2024 filing

Not tax-deductible

Philadelphia, PAMutual-benefit / member-servingSince 2004Community Development EIN 20-1442663Revenue $21K in FY2024

On file with the IRS2502 W Cheltenham Ave, 19150-1403 · Philadelphia, PATax-exempt since Jun 2007

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Hold title to property and collect income for the benefit of ogontz avenue revitalization corporation, a 501(c)(3) tax exempt organization.

Mission: Form 990 Part I, line 1

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FY2024 · Form 990Independent: from IRS data, not the org
Download 990
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
0 of 6
filings with a surplus
Average deficit $23K a year · 116% of revenue · last 6 filings
Concern: a surplus in 0 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Cash reserves
<1 mo
of spending, in cash
Plus $25K in investments, Pt X · Ln 11–13
Fine: 0.6 months of spending in cash, plus $25K in investments.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$3K
0.5% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
3
of 4 voting members
Looks good: 3 of 4 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$21K
-29% vs prior year
Spent
$41K
Net assets
$522K
By yearFY2020–FY2025
Revenue
$21K
FY2024▼ -29%
Tap a bar for its year
Revenue by fiscal year
FY2020$17K
FY2021$9K
FY2022$26K
FY2023$30K
FY2024$21K
FY2025$14K
Expenses
$41K
FY2024▲ +6%
Tap a bar for its year
Expenses by fiscal year
FY2020$59K
FY2021$30K
FY2022$48K
FY2023$39K
FY2024$41K
FY2025$34K
Net assets
$522K
FY2024▼ -4%
Tap a bar for its year
Net assets by fiscal year
FY2020$595K
FY2021$573K
FY2022$551K
FY2023$542K
FY2024$522K
FY2025$502K

From the FY2024 Form 990 (year ending June 2024) · see the original

990 PDF Claim
You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jun 2007.

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

Who runs it and what they're paid

4 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Kimberly Lloyd
President/CEO
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Main Development Group INC executive salaries →

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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

Manages property and collects income for community revitalization.

Questions for Main Development Group INC

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Provided by the organization

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1 program · in their own filed words · FY2023
01

Hold title to property and collect income for the benefit of ogontz avenue revitalization corporation, a 501(c)(3) tax exempt organization.

Pt IX · col B

Funders

Who pays for it.

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

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$21K
Ln 12
Fees for servicesLn 2g$21K
Money outPt IX
$41K
Ln 25
Owns and owesPt X
$522K
net assets · Ln 32
Cash and savingsLn 1–2$2K
Total assetsLn 16$525K
LiabilitiesLn 26$3K
PeoplePt VI, VII
4
listed · VII A
PaidVII A0
Voting boardVI 1a4
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$21K
Total revenueLn 12$21K
Assets in detailPt X, end of year
CashLn 1$2K
Cash and savings togetherLn 1–2$2K
InvestmentsLn 11–13$25K
Land, buildings, equipmentLn 10c$486K
Other assetsLn 15$11K
Total assetsLn 16$525K
LiabilitiesLn 26$3K
Net assetsLn 32$522K
OperationsPt I, VI
EmployeesI 50
VolunteersI 63
Fiscal year endsHeaderJune
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 FY24End FY24
Cash and savingsLn 1–2$7K$2K
InvestmentsLn 11–13$25K$25K
Land, buildings, equipmentLn 10c$351K$486K
Total assetsLn 16$550K$525K
LiabilitiesLn 26$8K$3K
Net assetsLn 32$542K$522K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$3K
Office expensesLn 13$1K
Information technologyLn 14$893
OccupancyLn 16$5K
Conferences, conventions and meetingsLn 19$60
Depreciation, depletion and amortizationLn 22$16K
InsuranceLn 23$2K
Other expenses (24a–d)Ln 24$13K
Total functional expensesLn 25$41K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $14K$34K−$21K$502K 990 PDF
FY2024 Viewing $21K$41K−$20K$522K 990 PDF
FY2023 $30K$39K−$9K$542K 990 PDF
FY2022 $26K$48K−$22K$551K 990 PDF
FY2021 $9K$30K−$22K$573K 990 PDF
FY2020 $17K$59K−$42K$595K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $21,476 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $30,272$21,476
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $30,272$21,476
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $38,963$41,194
I-18 Total expensesPrior year $38,963$41,194
I-19 Revenue less expensesPrior year −$8,691−$19,718
Part VI · Governance 3 of 4 board members independent, 1 to look at
VI-1a Voting members of the governing body4
VI-1b Independent voting members3
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 $21,476 across 2 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $21,476$21,476
VIII-12 Total revenueRelated to mission $21,476 · Unrelated business $0 · Excluded from tax $0$21,476
Part IX · Statement of functional expenses $41,194 across 8 lines filed
IX-11a Management fees$2,916
IX-13 Office expenses$1,132
IX-14 Information technology$893
IX-16 Occupancy$5,407
IX-19 Conferences, conventions and meetings$60
IX-22 Depreciation, depletion and amortization$15,986
IX-23 Insurance$1,811
IX-24 Other expenses (24a–d)$12,989
IX-25 Total functional expenses$41,194
Part X · Balance sheet $524,997 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $6,966$1,957
X-4 Accounts receivableStart of year $720$0
X-9 Prepaid expenses and deferred chargesStart of year $1,858$1,923
X-10c Land, buildings and equipment, netStart of year $350,966$485,553
X-13 Program-related investmentsStart of year $25,000$25,000
X-15 Other assetsStart of year $164,087$10,564
X-16 Total assetsStart of year $549,597$524,997
X-17 Accounts payable and accrued expensesStart of year $1,301$354
X-25 Other liabilitiesStart of year $6,270$2,335
X-26 Total liabilitiesStart of year $7,571$2,689
X-27 Net assets without donor restrictionsStart of year $542,026$522,308
X-32 Total net assets or fund balancesStart of year $542,026$522,308
X-33 Total liabilities and net assetsStart of year $549,597$524,997
Part XI · Reconciliation of net assets $522,308 net assets at year end
XI-1 Total revenue$21,476
XI-2 Total expenses$41,194
XI-3 Revenue less expenses−$19,718
XI-4 Net assets at start of year$542,026
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$522,308

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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