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Webster Development Fund FY2023 filing

Tax-deductible

Springhill, LA501(c)(3) EIN 20-5413853Latest return filed Feb 17, 2026

On file with the IRSfullercenterwebster.orgSpringhill, LATax-exempt since Jul 2007Publicly supported charity — 170(b)(1)(A)(vi)

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Solicit and purchase mortgages for the Fuller Center of Webster Inc A NotForProfit organization that provides affordable housing

501(c)(3) charity; gifts are tax-deductible.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78

Before you give

FY2023 · 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
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 $47K a year · last 6 filings
Concern: a surplus in 0 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
3 mo
of spending, in cash
Looks good: 3.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$1.0M
90% of total assets
Concern: liabilities are 90% of assets; over 80%.
Pt X · Ln 26
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$0
Spent
$51K
To programs
0%
Net assets
$113K
By yearFY2020–FY2025
Revenue
$0
FY2023
Tap a bar for its year
Revenue by fiscal year
FY2020$0
FY2021$0
FY2022$0
FY2023$0
FY2024$0
FY2025$0
Expenses
$51K
FY2023▲ +0.9%
Tap a bar for its year
Expenses by fiscal year
FY2020$36K
FY2021$33K
FY2022$51K
FY2023$51K
FY2024$44K
FY2025$69K
Net assets
$113K
FY2023▲ +4%
Tap a bar for its year
Net assets by fiscal year
FY2020$122K
FY2021$159K
FY2022$108K
FY2023$113K
FY2024$69K
FY2025$110K

From the FY2023 Form 990 · see the original

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You’re viewing the FY2023 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 Jul 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
$0Pt VII · Sec A
Dennis McMullan
Board Member
$0Pt VII · Sec A
Marettia Payne
Board Member
$0Pt VII · Sec A
Derek E Melancon
Vol Executive Director
$0Pt VII · Sec A
See Webster Development Fund 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

Buys mortgages to fund affordable housing for families in need.

Questions for Webster Development Fund

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1 program · in their own filed words · FY2023
01

Collected funds to contribute to the Fuller Center of Webster, Inc. To build low income housing and manage mortgages of the housing for low income families including forgiving a portion of the mortgage attributed to donations.

Pt IX · col B

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$0
Ln 12
Money outPt IX
$51K
Ln 25
Owns and owesPt X
$113K
net assets · Ln 32
Cash and savingsLn 1–2$13K
Total assetsLn 16$1.1M
LiabilitiesLn 26$1.0M
PeoplePt VI, VII
4
listed · VII A
PaidVII A0
Voting boardVI 1a0
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Total revenueLn 12$0
Assets in detailPt X, end of year
CashLn 1$13K
Cash and savings togetherLn 1–2$13K
Other assetsLn 15$1.1M
Total assetsLn 16$1.1M
LiabilitiesLn 26$1.0M
Net assetsLn 32$113K
OperationsPt I, VI
EmployeesI 50
VolunteersI 64
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 FY23End FY23
Cash and savingsLn 1–2$14K$13K
Total assetsLn 16$1.2M$1.1M
LiabilitiesLn 26$1.1M$1.0M
Net assetsLn 32$108K$113K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other expenses (24a–d)Ln 24$51K
Total functional expensesLn 25$51K$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 LatestFiled with the IRS Feb 17, 2026 $0$69K−$69K$110K 990 PDF
FY2024Filed with the IRS Mar 7, 2025 $0$44K−$44K$69K 990 PDF
FY2023 ViewingFiled with the IRS Mar 25, 2024 $0$51K−$51K$113K 990 PDF
FY2022Filed with the IRS Sep 10, 2023 $0$51K−$51K$108K 990 PDF
FY2021Filed with the IRS Aug 15, 2022 $0$33K−$33K$159K 990 PDF
FY2020Filed with the IRS Oct 25, 2021 $0$36K−$36K$122K 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 FY2023 990 (6 parts)
Part I · Summary $0 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenue$0
I-10 Investment income$0
I-11 Other revenue$0
I-12 Total revenue$0
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $50,814$51,250
I-18 Total expensesPrior year $50,814$51,250
I-19 Revenue less expensesPrior year −$50,814−$51,250
Part VI · Governance 1 to look at
VI-1a Voting members of the governing body0
VI-1b Independent voting members0
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 $0 across 2 lines filed
VIII-8 Net income from fundraising events$0
VIII-12 Total revenue$0
Part IX · Statement of functional expenses $51,250 across 1 line filed
IX-24 Other expenses (24a–d)$51,250
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$51,250
Part X · Balance sheet $1,146,289 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $14,209$12,901
X-15 Other assetsStart of year $1,194,022$1,133,388
X-16 Total assetsStart of year $1,208,231$1,146,289
X-17 Accounts payable and accrued expensesStart of year $1,075,130$1,033,378
X-26 Total liabilitiesStart of year $1,099,785$1,033,378
X-27 Net assets without donor restrictionsStart of year $108,446$112,911
X-32 Total net assets or fund balancesStart of year $108,446$112,911
X-33 Total liabilities and net assetsStart of year $1,208,231$1,146,289
Part XI · Reconciliation of net assets $112,911 net assets at year end
XI-1 Total revenue$0
XI-2 Total expenses$51,250
XI-3 Revenue less expenses−$51,250
XI-4 Net assets at start of year$108,446
XI-10 Net assets at end of year$112,911

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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