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Drexel Development Corporation INC FY2020 filing

Not tax-deductible

Joplin, MO501(c)(4)Since 1975EIN 23-7448537

To provide affordable housing for low to moderate income individuals

87¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(4)
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
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
2 of 6
filings with a surplus
Average deficit $7K a year · 2% of revenue · last 6 filings
Concern: a surplus in 2 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
87%
of spending
Looks good: 87% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
4 mo
of spending, in cash
Looks good: 3.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$762K
113% of total assets
Concern: liabilities are 113% of assets; over 80%.
Pt X · Ln 26
Independent board members
4
of 4 voting members
Looks good: 4 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
$293K
Spent
$300K
To programs
87%
Net assets
−$85K
By yearFY2020–FY2025
Revenue
$293K
FY2020
Revenue by fiscal year
FY2020$293K
FY2021$300K
FY2022$306K
FY2023$322K
FY2024$351K
FY2025$386K
Expenses
$300K
FY2020
Expenses by fiscal year
FY2020$300K
FY2021$307K
FY2022$355K
FY2023$319K
FY2024$359K
FY2025$358K
Net assets
−$85K
FY2020
Net assets by fiscal year
FY2020−$85K
FY2021−$93K
FY2022−$3K
FY2023−$11K
FY2024−$153K
FY2025−$125K

From the FY2020 Form 990 · see the original

Form 990 (PDF) Claim
You’re viewing the FY2020 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 Apr 1975.

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

Where the money goes

87 cents of each dollar spent went to programs.

Program services 87% · $259K Management & general 13% · $40K

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

Who runs it and what they're paid

4 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Sandra Nelson
Vice Preside
$0Pt VII · Sec A
Nancy Nickell
Secretary/Tr
$0Pt VII · Sec A
$0Pt VII · Sec A
See Drexel Development Corporation 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

Builds and manages affordable homes for people with lower incomes.

Provided by the organization

This section is blank until Drexel Development Corporation INC claims this page.

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1 program service account for $259K of program spending, described in the organization's own filed words · FY2020.
01

To provide affordable housing for the low to moderate income individuals.

$259Kprogram expense

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By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$293K
Ln 12
Fees for servicesLn 2g$293K
Investment incomeLn 3$77
Money outPt IX
$300K
Ln 25
Programscol B$259K
Managementcol C$40K
Owns and owesPt X
−$85K
net assets · Ln 32
Cash and savingsLn 1–2$97K
Total assetsLn 16$677K
LiabilitiesLn 26$762K
PeoplePt VI, VII
4
listed · VII A
PaidVII A0
Voting boardVI 1a4
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$293K
Investment incomeLn 3$77
Total revenueLn 12$293K
Assets in detailPt X, end of year
CashLn 1$21K
SavingsLn 2$76K
Cash and savings togetherLn 1–2$97K
Land, buildings, equipmentLn 10c$558K
Total assetsLn 16$677K
LiabilitiesLn 26$762K
Net assetsLn 32−$85K
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$124K$97K
Land, buildings, equipmentLn 10c$539K$558K
Total assetsLn 16$688K$677K
LiabilitiesLn 26$766K$762K
Net assetsLn 32−$79K−$85K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$13K$13K
Payroll taxesLn 10$3K$3K
Accounting feesLn 11c$7K$7K
OccupancyLn 16$197K$163K$33K
InterestLn 20$29K$29K
Depreciation, depletion and amortizationLn 22$50K$50K
Total functional expensesLn 25$300K$259K$40K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $386K$358K$28K−$125K 990 PDF
FY2024 $351K$359K−$8K−$153K 990 PDF
FY2023 $322K$319K$3K−$11K 990 PDF
FY2022 $306K$355K−$49K−$3K 990 PDF
FY2021 $300K$307K−$7K−$93K 990 PDF
FY2020 Viewing $293K$300K−$7K−$85K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2020 990 (4 parts)
Part VIII · Statement of revenue $293,081 across 3 lines filed
Lines not itemized here account for −$282 of total revenue; see the IRS return.
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $293,286$293,286
VIII-3 Investment incomeRelated to mission $77$77
VIII-12 Total revenueRelated to mission $293,081$293,081
Part IX · Statement of functional expenses $299,867 across 6 lines filed
IX-7 Other salaries and wagesPrograms $13,457$13,457
IX-10 Payroll taxesPrograms $3,333$3,333
IX-11c Accounting feesManagement $7,000$7,000
IX-16 OccupancyPrograms $163,331 · Management $33,426$196,757
IX-20 InterestPrograms $28,903$28,903
IX-22 Depreciation, depletion and amortizationPrograms $50,417$50,417
IX-25 Total functional expensesPrograms $259,441 · Management $40,426 · Fundraising $0$299,867
Part X · Balance sheet $676,682 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $25,098$20,716
X-2 Savings and temporary cash investmentsStart of year $99,066$76,222
X-9 Prepaid expenses and deferred chargesStart of year $23,957$21,309
X-10c Land, buildings and equipment, netStart of year $539,424$558,435
X-16 Total assetsStart of year $687,545$676,682
X-17 Accounts payable and accrued expensesStart of year $18,816$12,912
X-25 Other liabilitiesStart of year $145,602$148,058
X-26 Total liabilitiesStart of year $766,244$762,167
X-27 Net assets without donor restrictionsStart of year −$177,765−$161,707
X-28 Net assets with donor restrictionsStart of year $99,066$76,222
X-32 Total net assets or fund balancesStart of year −$78,699−$85,485
X-33 Total liabilities and net assetsStart of year $687,545$676,682
Part XI · Reconciliation of net assets −$85,485 net assets at year end
XI-1 Total revenue$293,081
XI-2 Total expenses$299,867
XI-3 Revenue less expenses−$6,786
XI-4 Net assets at start of year−$78,699
XI-10 Net assets at end of year−$85,485

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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