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Full Circle Developments INC FY2022 filing

Janesville, WIUnknown exempt organization EIN 47-4232471Revenue $184K in FY2022Latest return filed Nov 13, 2025

On file with the IRS203 W Sunny Lane Road · Janesville, WI

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Hold title to property, collect income therefrom, and turn over net income to caravilla, INC.

Mission: Form 990 Part I, line 1

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FY2022 · Form 990Independent: from IRS data, not the org
Download 990
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
2 of 5
filings with a surplus
Average deficit $24K a year · 15% of revenue · last 5 filings
Concern: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Cash reserves
<1 mo
of spending, in cash
Concern: 0.2 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$1.2M
105% of total assets
Concern: liabilities are 105% of assets; over 80%.
Pt X · Ln 26
Independent board members
2
of 3 voting members
Looks good: 2 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$184K
-13% vs prior year
Spent
$175K
Net assets
−$57K
By yearFY2020–FY2024
Revenue
$184K
FY2022▼ -13%
Tap a bar for its year
Revenue by fiscal year
FY2020$157K
FY2021$211K
FY2022$184K
FY2023$141K
FY2024$87K
Expenses
$175K
FY2022▼ -3%
Tap a bar for its year
Expenses by fiscal year
FY2020$166K
FY2021$180K
FY2022$175K
FY2023$184K
FY2024$194K
Net assets
−$57K
FY2022▲ +13%
Tap a bar for its year
Net assets by fiscal year
FY2020−$96K
FY2021−$65K
FY2022−$57K
FY2023−$100K
FY2024$0

From the FY2022 Form 990 · see the original

990 PDF Claim
You’re viewing the FY2022 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 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
Perry Folts
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
David Hicks
President (beg September)
$0Pt VII · Sec A
Shameeka Martin
President (thru August)
$0Pt VII · Sec A
See Full Circle Developments 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 income for Carravilla, Inc.

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1 program · in their own filed words · FY2022
01

Hold title to property, collect income therefrom, and turn over the entire amount, less expenses, to caravilla, inc., a wisconsin non-stock corporation.

Pt IX · col B

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$184K
Ln 12
Fees for servicesLn 2g$178K
Other incomeLn 4–11$6K
Money outPt IX
$175K
Ln 25
Owns and owesPt X
−$57K
net assets · Ln 32
Cash and savingsLn 1–2$2K
Total assetsLn 16$1.2M
LiabilitiesLn 26$1.2M
PeoplePt VI, VII
4
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b2
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$178K
Other incomeLn 4–11$6K
Total revenueLn 12$184K
Assets in detailPt X, end of year
CashLn 1$2K
Cash and savings togetherLn 1–2$2K
Land, buildings, equipmentLn 10c$1.2M
Total assetsLn 16$1.2M
LiabilitiesLn 26$1.2M
Net assetsLn 32−$57K
OperationsPt I, VI
EmployeesI 50
VolunteersI 62
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$22K$2K
Land, buildings, equipmentLn 10c$1.2M$1.2M
Total assetsLn 16$1.2M$1.2M
LiabilitiesLn 26$1.3M$1.2M
Net assetsLn 32−$65K−$57K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$8K
Legal feesLn 11b$450
Accounting feesLn 11c$13K
OccupancyLn 16$104K
Depreciation, depletion and amortizationLn 22$36K
InsuranceLn 23$11K
Other expenses (24a–d)Ln 24$1K
Total functional expensesLn 25$175K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 LatestFiled with the IRS Nov 13, 2025 $87K$194K−$107K$0 990 PDF
FY2023Filed with the IRS Nov 11, 2024 $141K$184K−$43K−$100K 990 PDF
FY2022 ViewingFiled with the IRS Nov 15, 2023 $184K$175K$9K−$57K 990 PDF
FY2021Filed with the IRS Nov 9, 2022 $211K$180K$31K−$65K 990 PDF
FY2020Filed with the IRS Nov 12, 2021 $157K$166K−$8K−$96K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants O · Explanations
See the full FY2022 990 (6 parts)
Part I · Summary $183,971 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $211,189$178,316
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$5,655
I-12 Total revenuePrior year $211,189$183,971
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 $180,348$175,346
I-18 Total expensesPrior year $180,348$175,346
I-19 Revenue less expensesPrior year $30,841$8,625
Part VI · Governance 2 of 3 board members independent, 3 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members2
VI-13 Written whistleblower policyNo
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
Part VIII · Statement of revenue $183,971 across 3 lines filed
Lines not itemized here account for $887 of total revenue; see the IRS return.
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $131,082 · Unrelated business $47,234$178,316
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $4,768$4,768
VIII-12 Total revenueRelated to mission $131,082 · Unrelated business $47,234 · Excluded from tax $5,655$183,971
Part IX · Statement of functional expenses $175,346 across 7 lines filed
IX-11a Management fees$8,442
IX-11b Legal fees$450
IX-11c Accounting fees$13,009
IX-16 Occupancy$104,449
IX-22 Depreciation, depletion and amortization$36,319
IX-23 Insurance$11,430
IX-24 Other expenses (24a–d)$1,247
IX-25 Total functional expenses$175,346
Part X · Balance sheet $1,185,345 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $22,463$2,397
X-4 Accounts receivableStart of year $1,735$0
X-9 Prepaid expenses and deferred chargesStart of year $5,618$9,487
X-10c Land, buildings and equipment, netStart of year $1,209,780$1,173,461
X-16 Total assetsStart of year $1,239,596$1,185,345
X-17 Accounts payable and accrued expensesStart of year $43,252$26,955
X-25 Other liabilitiesStart of year $146,086$156,087
X-26 Total liabilitiesStart of year $1,304,866$1,241,990
X-27 Net assets without donor restrictionsStart of year −$65,270−$56,645
X-32 Total net assets or fund balancesStart of year −$65,270−$56,645
X-33 Total liabilities and net assetsStart of year $1,239,596$1,185,345
Part XI · Reconciliation of net assets −$56,645 net assets at year end
XI-1 Total revenue$183,971
XI-2 Total expenses$175,346
XI-3 Revenue less expenses$8,625
XI-4 Net assets at start of year−$65,270
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$56,645

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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