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Full Circle Developments INC FY2023 filing

Janesville, WIUnknown exempt organization EIN 47-4232471Revenue $141K in FY2023

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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FY2023 · 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
3 mo
of spending, in cash
Looks good: 3.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$1.3M
109% of total assets
Concern: liabilities are 109% of assets; over 80%.
Pt X · Ln 26
Independent board members
8
of 9 voting members
Looks good: 8 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$141K
-23% vs prior year
Spent
$184K
Net assets
−$100K
By yearFY2020–FY2024
Revenue
$141K
FY2023▼ -23%
Tap a bar for its year
Revenue by fiscal year
FY2020$157K
FY2021$211K
FY2022$184K
FY2023$141K
FY2024$87K
Expenses
$184K
FY2023▲ +5%
Tap a bar for its year
Expenses by fiscal year
FY2020$166K
FY2021$180K
FY2022$175K
FY2023$184K
FY2024$194K
Net assets
−$100K
FY2023▼ -76%
Tap a bar for its year
Net assets by fiscal year
FY2020−$96K
FY2021−$65K
FY2022−$57K
FY2023−$100K
FY2024$0

From the FY2023 Form 990 · see the original

990 PDF Claim
You’re viewing the FY2023 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

10 people listed on the 990.

Part VII, Section A · reportable compensation
David Hicks
President
$0Pt VII · Sec A
Ned Moser
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Rick Barder
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Tony Landowski
Director (thru June)
$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 · FY2023
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 FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$141K
Ln 12
Fees for servicesLn 2g$127K
Investment incomeLn 3$9K
Other incomeLn 4–11$5K
Money outPt IX
$184K
Ln 25
Owns and owesPt X
−$100K
net assets · Ln 32
Cash and savingsLn 1–2$51K
Total assetsLn 16$1.2M
LiabilitiesLn 26$1.3M
PeoplePt VI, VII
10
listed · VII A
PaidVII A0
Voting boardVI 1a9
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$127K
Investment incomeLn 3$9K
Other incomeLn 4–11$5K
Gains on assetsLn 7$9K
Total revenueLn 12$141K
Assets in detailPt X, end of year
CashLn 1$51K
Cash and savings togetherLn 1–2$51K
Land, buildings, equipmentLn 10c$1.1M
Total assetsLn 16$1.2M
LiabilitiesLn 26$1.3M
Net assetsLn 32−$100K
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 FY23End FY23
Cash and savingsLn 1–2$2K$51K
Land, buildings, equipmentLn 10c$1.2M$1.1M
Total assetsLn 16$1.2M$1.2M
LiabilitiesLn 26$1.2M$1.3M
Net assetsLn 32−$57K−$100K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$17K
Accounting feesLn 11c$15K
Other fees for servicesLn 11g$3K
Office expensesLn 13$1K
OccupancyLn 16$111K
Depreciation, depletion and amortizationLn 22$23K
InsuranceLn 23$14K
Total functional expensesLn 25$184K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $87K$194K−$107K$0 990 PDF
FY2023 Viewing $141K$184K−$43K−$100K 990 PDF
FY2022 $184K$175K$9K−$57K 990 PDF
FY2021 $211K$180K$31K−$65K 990 PDF
FY2020 $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 FY2023 990 (6 parts)
Part I · Summary $140,973 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $178,316$127,440
I-10 Investment incomePrior year $0$8,896
I-11 Other revenuePrior year $5,655$4,637
I-12 Total revenuePrior year $183,971$140,973
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 $175,346$184,292
I-18 Total expensesPrior year $175,346$184,292
I-19 Revenue less expensesPrior year $8,625−$43,319
Part VI · Governance 8 of 9 board members independent, 3 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members8
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 $140,973 across 4 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 $109,235 · Unrelated business $18,205$127,440
VIII-7 Net gain or loss on sales of assetsExcluded from tax $8,896$8,896
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $3,750$3,750
VIII-12 Total revenueRelated to mission $109,235 · Unrelated business $18,205 · Excluded from tax $13,533$140,973
Part IX · Statement of functional expenses $184,292 across 7 lines filed
IX-11a Management fees$16,790
IX-11c Accounting fees$14,733
IX-11g Other fees for services$2,710
IX-13 Office expenses$1,200
IX-16 Occupancy$111,332
IX-22 Depreciation, depletion and amortization$23,075
IX-23 Insurance$14,452
IX-25 Total functional expenses$184,292
Part X · Balance sheet $1,156,203 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $2,397$50,550
X-4 Accounts receivableStart of year $0$1,440
X-9 Prepaid expenses and deferred chargesStart of year $9,487$9,930
X-10c Land, buildings and equipment, netStart of year $1,173,461$1,094,283
X-16 Total assetsStart of year $1,185,345$1,156,203
X-17 Accounts payable and accrued expensesStart of year $26,955$24,721
X-25 Other liabilitiesStart of year $156,087$231,586
X-26 Total liabilitiesStart of year $1,241,990$1,256,167
X-27 Net assets without donor restrictionsStart of year −$56,645−$99,964
X-32 Total net assets or fund balancesStart of year −$56,645−$99,964
X-33 Total liabilities and net assetsStart of year $1,185,345$1,156,203
Part XI · Reconciliation of net assets −$99,964 net assets at year end
XI-1 Total revenue$140,973
XI-2 Total expenses$184,292
XI-3 Revenue less expenses−$43,319
XI-4 Net assets at start of year−$56,645
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$99,964

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

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