City Of Seymour Facilities Building Corporation
- Assets
- $14.3m
- Revenue
- $393.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Seymour, IN
- Founding
- 11/2007
- Data as of
- 12/2021
- EIN
- 20-2689213
Organization Overview
City Of Seymour Facilities Building Corporation is located in Seymour, IN. The organization was established in 2007. According to its NTEE Classification (S99) the organization is classified as: Community Improvement & Capacity Building N.E.C., under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. City Of Seymour Facilities Building Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, City Of Seymour Facilities Building Corporation generated $393.0k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.4%) each year. All expenses for the organization totaled $19.2k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (22.6%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE CORPORATION'S SOLE PURPOSE IS TO ACQUIRE A SITE SUITABLE FOR THE CONSTRUCTION OF CITY FACILITIES THEREON AND TO FINANCE THE COSTS OF SITE ACQUISITION AND CONSTRUCTION OF FACILITIES RELATED THERETO AND TO LEASE THE SITE AND FACILITIES TO AND FOR THE USE OF THE CITY OF SEYMOUR, INDIANA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CORPORATION LEASES FACILITIES TO THE CITY OF SEYMOUR, INDIANA TO BE USED BY THE CITY OF SEYMOUR POLICE DEPARTMENT. PREVIOUSLY, THE CORPORATION APPLIED THE LEASE RENTAL PAYMENTS TO SERVICE THE DEBT PAYMENTS DUE ON THE SERIES 2005 FIRST MORTGAGE BONDS. IN AUGUST OF 2016, THE CORPORATION REFINANCED THE 2005 FIRST MORTGAGE BONDS WITH THE ISSUANCE OF THE FIRST MORTGAGE REFUNDING BONDS, SERIES 2016 IN THE AMOUNT OF $2,015,000. BEGINNING IN 2017, LEASE RENTAL PAYMENTS WILL BE APPLIED TO SERVICE THE DEBT ON THE SERIES 2016 FIRST MORTGAGE REFUNDING BONDS. FINAL PAYMENT WAS MADE ON THE SERIES 2016 FIRST MORTGAGE REFUNDING BONDS AS SCHEDULED IN JULY 2021.
IN AUGUST 2021, THE CORPORATION ENTERED INTO A LEASE AGREEMENT WITH THE CITY OF SEYMOUR FOR PREMISES SECURING THE SERIES 2021 REVENUE BONDS. THE SERIES 2021 BONDS IN THE AMOUNT OF $8,995,000 MATURE IN FEBRUARY 2041. THE PROCEEDS FROM THE BONDS WILL BE USED TO FINANCE THE PROJECTS CONSISTING OF (I) A NEW FIRE STATION ON WEST SECOND STREET IN SEYMOUR, (II) THE RENOVATION OF CITY HALL ON NORTH CHESTNUT STREET IN SEYMOUR, AND (III) THE RENOVATION OF AN OLD FIRE STATION ON EAST STREET IN SEYMOUR. CONSTRUCTION ON THE NEW FIRE STATION AND RENOVATION OF CITY HALL BEGAN IN 2021. THE OLD FIRE STATION RENOVATION IS EXPECTED TO BEGIN IN JUNE 2023. AS OF DECEMBER 31, 2021, CONSTRUCTION COSTS IN PROGRESS TOTALED $2,298,624.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert L Prather President | OfficerTrustee | 0.5 | $0 |
William W Bailey Secretary | OfficerTrustee | 0.5 | $0 |
David H Windley Treasurer | OfficerTrustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $392,975 |
| Investment income | $12 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $392,987 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,565 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,250 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $4,960 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $11,450 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $19,225 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $93,700 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $6,849,347 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $303,774 |
| Other assets | $7,097,679 |
| Total assets | $14,344,500 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $8,995,000 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $798,775 |
| Total liabilities | $9,793,775 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $4,550,725 |
| Total liabilities and net assets/fund balances | $14,344,500 |
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