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Development Research Corporation FY2020 filing

Tax-deductible

Dayton, OH501(c)(3)Community Development EIN 31-1433172Revenue $74K in FY2020

On file with the IRSdaytonregion.com1401 S Main Street 200, 45409-2670 · Dayton, OHTax-exempt since Jan 1996Publicly supported charity — 170(b)(1)(A)(vi)

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To retain, expand and recruit jobs in the dayton region

501(c)(3) charity; gifts are tax-deductible.
75¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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FY2020 · 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 $331K a year · 77% 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
75%
of spending
Fine: 75% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Cash reserves
107 mo
of spending, in cash
Looks good: 107.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $12K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$388K
57% of total assets
Fine: liabilities are 57% of assets; 50% to 65%.
Pt X · Ln 26
Independent board members
4
of 5 voting members
Looks good: 4 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
$74K
Spent
$70K
To programs
75%
Net assets
$290K
By yearFY2020–FY2024
Revenue
$74K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$74K
FY2021$1.3M
FY2022$466K
FY2023$141K
FY2024$161K
Expenses
$70K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$70K
FY2021$74K
FY2022$192K
FY2023$78K
FY2024$75K
Net assets
$290K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$290K
FY2021$1.5M
FY2022$1.8M
FY2023$1.8M
FY2024$1.9M

From the FY2020 Form 990 · see the original

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You’re viewing the FY2020 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 Jan 1996.

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

Where the money goes

75 cents of each dollar spent went to programs.

Program services 75% · $53K Management & general 21% · $15K Fundraising 4% · $3K

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

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Who runs it and what they're paid

10 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Don Baker
Trustee
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Jeffery C Hoagland
President & CEO
$0Pt VII · Sec A
$0Pt VII · Sec A
Elaine Bryant
EVP - Aerospace and Defens
$0Pt VII · Sec A
Julie Sullivan
EVP - Regional Development
$0Pt VII · Sec A
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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

Creates and attracts jobs to boost the Dayton area's economy.

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Provided by the organization

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1 program · $53K · in their own filed words · FY2020
01

Collaborating with a vast network of state and local economic development partners, the coalition assists companies looking to expand or locate to the community. In the dayton metropolitan area, one out of every 11 jobs is a federal civilian, military, or contractor position.

$53Kprogram 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 · FY2024
Harry M and Violet Turner Charitable TrustFY2024$10K
Nisource Charitable FoundationFY2024$2K
Total grants receivedfrom 2 funders$12K

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$74K
Ln 12
Gifts and grantsLn 1h$65K
Investment incomeLn 3$9K
Other incomeLn 4–11$27
Money outPt IX
$70K
Ln 25
Programscol B$53K
Managementcol C$15K
Fundraisingcol D$3K
Owns and owesPt X
$290K
net assets · Ln 32
Cash and savingsLn 1–2$628K
Total assetsLn 16$678K
LiabilitiesLn 26$388K
PeoplePt VI, VII
10
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$65K
Investment incomeLn 3$9K
Other incomeLn 4–11$27
Total revenueLn 12$74K
Assets in detailPt X, end of year
CashLn 1$628K
Cash and savings togetherLn 1–2$628K
Total assetsLn 16$678K
LiabilitiesLn 26$388K
Net assetsLn 32$290K
OperationsPt I, VI
EmployeesI 50
VolunteersI 67
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
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$625K$628K
Total assetsLn 16$702K$678K
LiabilitiesLn 26$416K$388K
Net assetsLn 32$286K$290K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$5K$5K
Other expenses (24a–d)Ln 24$65K$53K$10K$3K
All other expensesLn 24e$200$200
Total functional expensesLn 25$70K$53K$15K$3K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $161K$75K$86K$1.9M 990 PDF
FY2023 $141K$78K$64K$1.8M 990 PDF
FY2022 $466K$192K$274K$1.8M 990 PDF
FY2021 $1.3M$74K$1.2M$1.5M 990 PDF
FY2020 Viewing $74K$70K$4K$290K 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 FY2020 990 (6 parts)
Part I · Summary $74,136 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $90,000$65,000
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $11,153$9,109
I-11 Other revenuePrior year $5$27
I-12 Total revenuePrior year $101,158$74,136
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 $97,908$70,435
I-18 Total expensesPrior year $97,908$70,435
I-19 Revenue less expensesPrior year $3,250$3,701
Part VI · Governance 4 of 5 board members independent, 2 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members4
VI-14 Document retention and destruction policyNo
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
Part VIII · Statement of revenue $74,136 across 5 lines filed
VIII-1f All other contributions, gifts and grants$65,000
VIII-1h Total contributions, gifts and grants$65,000
VIII-3 Investment incomeExcluded from tax $9,109$9,109
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $27$27
VIII-12 Total revenueRelated to mission $27 · Unrelated business $0 · Excluded from tax $9,109$74,136
Part IX · Statement of functional expenses $70,435 across 3 lines filed
IX-11c Accounting feesManagement $5,143$5,143
IX-24 Other expenses (24a–d)Programs $52,649 · Management $9,641 · Fundraising $2,802$65,092
IX-24e All other expensesManagement $200$200
IX-25 Total functional expensesPrograms $52,649 · Management $14,984 · Fundraising $2,802$70,435
Part X · Balance sheet $678,078 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $624,777$628,078
X-4 Accounts receivableStart of year $77,500$50,000
X-16 Total assetsStart of year $702,277$678,078
X-17 Accounts payable and accrued expensesStart of year $6,889$6,489
X-19 Deferred revenueStart of year $331,441$331,441
X-25 Other liabilitiesStart of year $77,500$50,000
X-26 Total liabilitiesStart of year $415,830$387,930
X-27 Net assets without donor restrictionsStart of year $286,447$290,148
X-32 Total net assets or fund balancesStart of year $286,447$290,148
X-33 Total liabilities and net assetsStart of year $702,277$678,078
Part XI · Reconciliation of net assets $290,148 net assets at year end
XI-1 Total revenue$74,136
XI-2 Total expenses$70,435
XI-3 Revenue less expenses$3,701
XI-4 Net assets at start of year$286,447
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$290,148

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

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