Bear Creek Development Center Inc
- Assets
- $7.4m
- Revenue
- $990.2k
- Investments
- $0.0
- Employees
- 5
- Location
- Rochester, MN
- Founding
- 01/2020
- Data as of
- 12/2023
- EIN
- 84-1884979
Organization Overview
Bear Creek Development Center Inc is located in Rochester, MN. The organization was established in 2020. As of 12/2023, Bear Creek Development Center Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bear Creek Development Center Inc 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 12/2023, Bear Creek Development Center Inc generated $990.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (23.8%) each year. All expenses for the organization totaled $865.5k during the year ending 12/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PURSUING INNOVATIVE, HOLISTIC, & TRULY AFFORDABLE HOUSING SOLUTIONS IN THE ROCHESTER MN AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO BE A DEVELOPER, MANAGER, AND LEADER OF TRULY AFFORDABLE HOUSING; A PARTNER FOR EDUCATIONAL EXCELLENCE; AND A CATALYST FOR COST-EFFECTIVE HOUSING DEVELOPMENT IN THE ROCHESTER MN AREA.DURING 2023, THE PROGRAM ACCOMPLISHED THE FOLLOWING:THIS YEAR THE REMODEL OF THE FORMER GARAGE/STORAGE SHED WAS COMPLETED! NOW THE BUILDING HAS ROOM FOR 6 VETERANS (BELOW 50% AMI) WHO ARE GETTING BACK ON THEIR FEET. MAC-V IS THE MAIN SERVICE PROVIDER WITH BCDC STAFF GIVING SECONDARY SUPPORT TO THE NEW TENANTS.FURTHERMORE, BCDC APPLIED WITH THREE RIVERS TO MHFA FOR A LOW INCOME HOUSING TAX CREDIT PROJECT. THE PROJECT WAS AWARDED IN DECEMBER, 2023 AND IT IS HOPED TO START CONSTRUCTION ON THE PROJECT IN THE FALL OF 2024.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeffrey Urban Executive Director | OfficerTrustee | 15 | $0 |
Aaron Wager Chair | OfficerTrustee | 1 | $0 |
Kenn Roehl Vice Chair | OfficerTrustee | 1 | $0 |
Helen Laack Treasurer | OfficerTrustee | 1 | $0 |
Christopher Beighley Secretary | OfficerTrustee | 1 | $0 |
Jacob Radtke Member | 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 | $25,654 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $25,654 |
| Total Program Service Revenue | $955,639 |
| Investment income | $8,883 |
| 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 | $990,176 |
| 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 | $97,302 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $2,043 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $13,900 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $26 |
| Advertising and promotion | $0 |
| Office expenses | $10,842 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $259,006 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $150,807 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $216,819 |
| Insurance | $23,747 |
| All other expenses | $640 |
| Total functional expenses | $865,482 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $164,485 |
| Savings and temporary cash investments | $299,472 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $12,595 |
| 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 | $3,936 |
| Net Land, buildings, and equipment | $6,949,663 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $7,430,151 |
| Accounts payable and accrued expenses | $30,900 |
| Grants payable | $0 |
| Deferred revenue | $10,570 |
| 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 | $4,337,774 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $74,949 |
| Total liabilities | $4,454,193 |
| Net assets without donor restrictions | $2,975,958 |
| 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 | $7,430,151 |