Allen County Fort Wayne Development Trust Inc
- Assets
- $88.1m
- Revenue
- $21.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Fort Wayne, IN
- Founding
- 08/2000
- Data as of
- 12/2021
- EIN
- 35-2090277
Organization Overview
Allen County Fort Wayne Development Trust Inc is located in Fort Wayne, IN. The organization was established in 2000. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, 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. Allen County Fort Wayne Development Trust Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO ADVANCE CURRENT AND FUTURE REVITALIZATION AND PROMOTE NEW ECONOMIC DEVELOPMENT OR REDEVELOPMENT IN THE ALLEN COUNTY-FORT WAYNE AREA.
Describe the Organization's Program Activity:
DURING 2021, THE TWO PRIMARY DEVELOPMENTS THAT THE TRUST CONTINUED TO BE INVOLVED WITH WERE THE ELECTRIC WORKS PROJECT, PHASE I, AND THE LANDING. ELECTRIC WORKS IS ONE OF THE LARGEST REDEVELOPMENT PROJECTS IN THE MIDWEST, TRANSFORMING THE FORMER GENERAL ELECTRIC CAMPUS. THE LANDING IS A ONE BLOCK REDEVELOPMENT OF DOWNTOWN FORT WAYNE'S ENTERTAINMENT AND RIVERFRONT DISTRICT AND FEATURES BOUTIQUE SHOPPING, FINE DINING AND DOWNTOWN LIVING. ALSO IN 2021, POTENTIAL NEW PROJECTS WERE REVIEWED FOR THE BOARD'S CONSIDERATION, BUT NO FORMAL ACTION WAS TAKEN.
THE TRUST CONTINUED TO ASSIST THE DEVELOPER WITH THE $285MM ELECTRIC WORKS REDEVELOPMENT PROJECT, PHASE I, AS A MINORITY PARTNER AND ISSUER OF CERTAIN LOCAL BOND PROCEEDS AND STATE TAX CREDITS THEREBY ALLOWING THE CITY OF FORT WAYNE, AS TO THE LOCAL BOND ISSUANCE, TO LOWER ITS OVERALL INTEREST EXPENSE FOR ISSUANCE OF ITS TAX FREE BONDS AND PROVIDE CONSIDERABLE SAVINGS TO LOCAL TAXPAYERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Trois Hart Secretary | OfficerTrustee | 2 | $0 |
Robert S Walters President | OfficerTrustee | 3 | $0 |
Michael J Erler Sr Vice President | OfficerTrustee | 2 | $0 |
Susan Wesner Treasurer | Officer | 3 | $0 |
Karl Bandemer Director | Trustee | 1 | $0 |
Charlie Heiny Director | Trustee | 1 | $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 | $21 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $21 |
| Total Program Service Revenue | $21,494,706 |
| Investment income | $66 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $6,170 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $21,500,963 |
| 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 | $50,022 |
| Fees for services: Accounting | $17,867 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $538,784 |
| 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 | $28,447 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $20,001 |
| Insurance | $990 |
| All other expenses | $0 |
| Total functional expenses | $661,987 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $708,396 |
| Savings and temporary cash investments | $0 |
| 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 | $40,286,557 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $79 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $46,985,276 |
| Intangible assets | $160,000 |
| Other assets | $0 |
| Total assets | $88,140,308 |
| Accounts payable and accrued expenses | $69,222 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $229,829 |
| Unsecured mortgages and notes payable | $1,793,224 |
| Other liabilities | $0 |
| Total liabilities | $2,092,275 |
| Net assets without donor restrictions | $86,048,033 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $88,140,308 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Allen County Fort Wayne Development Trust Inc has recieved totaling $5.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $5 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Indianapolis Foundation Inc Indianapolis, IN | $352,748,809 | $43,731,535 |
Delta Area Economic Opportunity Corporation Portageville, MO | $22,832,856 | $23,706,654 |
Pennyrile Allied Community Services Inc Hopkinsville, KY | $9,618,726 | $22,758,893 |
Lexington Center Corporation Lexington, KY | $378,439,328 | $16,156,810 |
Kentucky River Foothills Development Council Inc Richmond, KY | $12,381,295 | $19,871,173 |
Community Action Of Southern Kentucky Incorporated Bowling Green, KY | $10,381,389 | $18,999,181 |
Northern Kentucky Community Action Commisson Inc Covington, KY | $8,823,439 | $18,121,235 |
Embarras River Basin Agency Inc Greenup, IL | $2,961,671 | $18,793,359 |
Jefferson Franklin Community Action Corporation Hillsboro, MO | $6,544,452 | $18,340,130 |
Tri-County Opportunities Council Rock Falls, IL | $4,101,390 | $18,238,868 |
Inner-City Muslim Action Network Chicago, IL | $22,441,569 | $25,574,850 |
Will County Center For Community Concerns Inc Joliet, IL | $2,259,108 | $13,384,526 |