Laney Walker Development Corp: Nonprofit Profile, Financials & Form 990 (EIN 58-1920996)

Is it real?

No. The IRS revoked its tax exemption. Latest filing on record: FY2019.

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

Where the money goes

46 cents of each dollar spent went to programs.

46%

54%

Program services 46% · $78K Management & general 54% · $92K

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

1 person listed on the 990; $45K paid to officers and key staff.

Part VII, Section A · reportable compensation

Edith Peebles

Executive Director

$45,000Pt 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 15aYes

Programs and updates

Manages a housing program to provide affordable homes.

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Provided by the organization

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1 program · $78K · in their own filed words · FY2019

01

Continued to expand affordable home ownership opportunities

$78Kprogram 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 · FY2023

Amazonsmile FoundationFY2023$298

Total grants receivedfrom 1 funder$298

By the numbers

The FY2019 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$221K

Ln 12

Gifts and grantsLn 1h$114K

Other incomeLn 4–11$72K

Fees for servicesLn 2g$35K

Money outPt IX

$170K

Ln 25

Programscol B$78K

Managementcol C$92K

Owns and owesPt X

$1.6M

net assets · Ln 32

Cash and savingsLn 1–2$76K

Total assetsLn 16$2.1M

LiabilitiesLn 26$516K

PeoplePt VI, VII

1

listed · VII A

PaidVII A1

Voting boardVI 1a5

IndependentVI 1b5

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$114K

Fees for servicesLn 2g$35K

Investment incomeLn 3$12

Other incomeLn 4–11$72K

Total revenueLn 12$221K

Assets in detailPt X, end of year

CashLn 1$76K

Cash and savings togetherLn 1–2$76K

InvestmentsLn 11–13$981K

Land, buildings, equipmentLn 10c$1.0M

Total assetsLn 16$2.1M

LiabilitiesLn 26$516K

Net assetsLn 32$1.6M

OperationsPt I, VI

EmployeesI 52

VolunteersI 60

Fiscal year endsHeaderDecember

Conflict-of-interest policyVI 12aNo

Whistleblower policyVI 13Yes

Records policyVI 14No

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY19	End FY19
Cash and savingsLn 1–2	$78K	$76K
InvestmentsLn 11–13	$899K	$981K
Land, buildings, equipmentLn 10c	$1.1M	$1.0M
Total assetsLn 16	$2.1M	$2.1M
LiabilitiesLn 26	$530K	$516K
Net assetsLn 32	$1.5M	$1.6M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Pay of current officers, directors and key staffLn 5	$45K	$0	$45K	$0
Other salaries and wagesLn 7	$24K	$0	$24K	$0
Payroll taxesLn 10	$7K	$0	$7K	$0
Legal feesLn 11b	$1K	$0	$1K	$0
Accounting feesLn 11c	$975	$0	$975	$0
Office expensesLn 13	$5K	$0	$5K	$0
Conferences, conventions and meetingsLn 19	$2K	$0	$2K	$0
InterestLn 20	$0	$0	$0	$0
InsuranceLn 23	$0	$0	$0	$0
Other expenses (24a–d)Ln 24	$0	$0	$0	$0
All other expensesLn 24e	$85K	$78K	$7K	$0
Total functional expensesLn 25	$170K	$78K	$92K	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2019 Latest ViewingFiled with the IRS Mar 22, 2021	$221K	$170K	$50K	$1.6M	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 FY2019 990 (6 parts)

Part I · Summary $220,504 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $361,148$113,962

I-9 Program service revenuePrior year $145,641$34,844

I-10 Investment incomePrior year $0$12

I-11 Other revenuePrior year $89,160$71,686

I-12 Total revenuePrior year $595,949$220,504

I-13 Grants and similar amounts paid$0

I-14 Benefits paid to members$0

I-15 Salaries and benefitsPrior year $75,580$76,239

I-16a Professional fundraising fees$0

I-17 Other expensesPrior year $134,426$93,823

I-18 Total expensesPrior year $210,006$170,062

I-19 Revenue less expensesPrior year $385,943$50,442

Part VI · Governance 5 of 5 board members independent, 2 to look at

VI-1a Voting members of the governing body5

VI-1b Independent voting members5

VI-12a Written conflict of interest policyNo

VI-14 Document retention and destruction policyNo

VI-2 Family or business relationship among officers or directorsNo

VI-13 Written whistleblower policyYes

VI-15a Process for setting top official's payYes

Part VIII · Statement of revenue $220,504 across 6 lines filed

VIII-1f All other contributions, gifts and grants$113,962

VIII-1h Total contributions, gifts and grants$113,962

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Unrelated business $0 · Excluded from tax $0$34,844

VIII-3 Investment incomeUnrelated business $0 · Excluded from tax $0$12

VIII-6 Net rental income or lossRelated to mission $71,686$71,686

VIII-12 Total revenueRelated to mission $106,542 · Unrelated business $0 · Excluded from tax $0$220,504

Part IX · Statement of functional expenses $170,062 across 11 lines filed

IX-5 Pay of current officers, directors and key staffPrograms $0 · Management $45,000 · Fundraising $0$45,000

IX-7 Other salaries and wagesPrograms $0 · Management $24,438 · Fundraising $0$24,438

IX-10 Payroll taxesPrograms $0 · Management $6,801 · Fundraising $0$6,801

IX-11b Legal feesPrograms $0 · Management $1,095 · Fundraising $0$1,095

IX-11c Accounting feesPrograms $0 · Management $975 · Fundraising $0$975

IX-13 Office expensesPrograms $0 · Management $5,317 · Fundraising $0$5,317

IX-19 Conferences, conventions and meetingsPrograms $0 · Management $1,540 · Fundraising $0$1,540

IX-20 InterestPrograms $0 · Management $0 · Fundraising $0$0

IX-23 InsurancePrograms $0 · Management $0 · Fundraising $0$0

IX-24 Other expenses (24a–d)Programs $0 · Management $0 · Fundraising $0$0

IX-24e All other expensesPrograms $78,151 · Management $6,745 · Fundraising $0$84,896

IX-25 Total functional expensesPrograms $78,151 · Management $91,911 · Fundraising $0$170,062

Part X · Balance sheet $2,108,140 assets, 10 lines filed

X-1 Cash, non-interest-bearingStart of year $77,501$75,723

X-4 Accounts receivableStart of year $1,440$12,561

X-10c Land, buildings and equipment, netStart of year $1,093,839$1,038,897

X-13 Program-related investmentsStart of year $898,955$980,959

X-16 Total assetsStart of year $2,071,735$2,108,140

X-24 Unsecured notes and loans payableStart of year $100,343$102,739

X-26 Total liabilitiesStart of year $529,617$515,580

X-27 Net assets without donor restrictionsStart of year $1,542,118$1,592,560

X-32 Total net assets or fund balancesStart of year $1,542,118$1,592,560

X-33 Total liabilities and net assetsStart of year $2,071,735$2,108,140

Part XI · Reconciliation of net assets $1,592,560 net assets at year end

XI-1 Total revenue$220,504

XI-2 Total expenses$170,062

XI-3 Revenue less expenses$50,442

XI-4 Net assets at start of year$1,542,118

XI-10 Net assets at end of year$1,592,560

Form 990 e-file (XML) FY2019 from the IRS · Classification, formation year and address from the IRS Business Master File

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