2022-11-03T08:43:52-05:00 2021-12-31 741130599 PATTILLO BROWN & HILL LLP P O BOX 20725 WACO TX 767020725 990 2021-01-01 742995407 WACO COMMUNITY DEVELOPMENT CORPORATION DBA GRASSROOTS COMMUNITY DEVELOPMENT WACO 2542357358 1624 COLCORD WACO TX 76707 MIKE STONE EXECUTIVE DIRECTOR 2542357358 2022-10-31 1 MIKE STONE 999009999 MIKE LUCAS CPA P00581536 2547724901 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z GRASSROOTS COMMUNITY DEVELOPMENT MIKE STONE 1624 COLCORD WACO TX 76707 1010828 0 X GRASSROOTSWACO.ORG X 2001 TX TO ACHIEVE A BRIGHTER FUTURE FOR CHILDREN, NEIGHBORS AND COMMUNITIES BY INSPIRING AND CULTIVATING HEALTH NEIGHBORHOODS. 6 6 8 156 0 0 452927 555819 8760 8292 262 235 97328 142485 559277 706831 10000 6000 0 0 338126 374146 0 0 13766 207788 324298 555914 704444 3363 2387 1061502 877583 961573 763064 99929 114519 TO ACHIEVE A BRIGHTER FUTURE FOR CHILDREN, NEIGHBORS AND COMMUNITIES BY INSPIRING AND CULTIVATING HEALTH NEIGHBORHOODS. 0 0 171201 152957 PROVISION OF AFFORDABLE HOUSING AND PROPERTY MANAGEMENT TO LOW AND MODERATE INCOME PEOPLE. THE ORGANIZATION OWNS 6 RENTAL PROPERTIES OCCUPIED BY LOW AND MODERATE INCOME RESIDENTS. THE ORGANIZATION ALSO PURCHASES, REMODELS, AND RESELLS HOMES TO QUALIFYING INDIVIDUALS. 102442 6000 PROVISION OF HOUSING COUNSELING AND HOMEBUYER EDUCATION CLASSES TO LOW AND MODERATE INCOME PEOPLE. COUNSELING SERVICES INCLUDE PRE- AND POST-PURCHASE COUNSELING AS WELL AS FORECLOSURE/LOSS MITIGATION AND DOWNPAYMENT/CLOSING COST ASSISTANCE COUNSELING. OTHER SERVICES INCLUDE BUDGETING, FINANCIAL LITERACY, HOMEBUYER EDUCATION AND LOAN DOCUMENT PACKAGING CLASSES. 393714 PROMOTION OF COMMUNITY AND ECONOMIC DEVELOPMENT. THE HANDS AND FEET SERVICE PROGRAM HELPS TO COORDINATE LOCAL SERVICE PROJECTS BY MATCHING GROUPS OF VOLUNTEERS WITH QUALIFYING RESIDENTS TO PERFORM REPAIRS AND MAINTENANCE ON LOW-INCOME HOMESTEADED HOMES. PROJECTS INCLUDE PAINTING, SCRAPING, AND MINOR SIDING REPAIRS, PROVIDING LEADERSHIP DEVELOPMENT CLASSES AND HELP THROUGH OUR COMMUNITY ORGANIZATION EFFORTS. 667357 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 19 0 1 8 1 0 0 0 0 0 0 0 0 0 0 0 0 X 6 6 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 X X MIKE STONE 2542357358 1624 COLCORD WACO TX 76707 BILLY DAVIS PRESIDENT 1.00 X X 0 0 0 KEN COOPER TREASURER 1.00 X X 0 0 0 TARA BRISCOE DIRECTOR 1.00 X 0 0 0 RACHEL SWAIN DIRECTOR 1.00 X 0 0 0 JOHN BABERS DIRECTOR 1.00 X 0 0 0 DAYSI BARRERA VICE PRESIDENT 1.00 X X 0 0 0 TIM HOLTKAMP SECRETARY 1.00 X X 0 0 0 MICHAEL JETER BOARD MEMBER 1.00 X 0 0 0 JOHNNY MANKIN DIRECTOR 1.00 X 0 0 0 MIKE STONE EXECUTIVE DIRECTOR 40.00 X 88000 0 16190 88000 0 16190 0 0 0 0 CSP UTILITIES DBA CORNERSTONE PLUMBING 2101 S 22ND STREET WACO TX 76706 PLUMBING REPAIRS 127317 1 11064 431009 113746 555819 INTEREST INCOME 531390 8292 8292 8292 235 235 67750 0 67750 67750 67750 0 11064 2180 -2180 -2180 302906 301817 1089 1089 CONSTRUCTION MGMT, LAT 531110 75826 75826 75826 706831 152957 0 -1945 6000 6000 104205 87935 6984 9286 215378 205976 8956 446 30192 27776 1488 928 24371 22415 1214 742 6401 6067 334 6490 3495 1248 1747 69896 69689 128 79 5900 5424 297 179 165681 164928 467 286 797 797 17610 17610 18206 18206 21940 19854 2086 BAD DEBT EXPENSE 8268 8268 MISCELLANEOUS EXPENSE 3109 2917 119 73 704444 667357 23321 13766 279261 276592 25370 73729 29227 10462 103263 53241 29987 29987 486433 186774 317865 299659 276529 133913 1061502 877583 26446 17693 126735 98038 802203 645533 6189 1800 961573 763064 X 99929 114519 99929 114519 1061502 877583 2387 12203 0 X X 0 1 X 1 0 X 276322 474532 499876 452927 555819 2259476 276322 474532 499876 452927 555819 2259476 49471 2210005 103 65 170 262 235 835 1859 670 1280 63989 75826 143624 2403935 413525 0.91930 0.96070 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 395250 133717 261533 71134 33008 38126 20049 20049 0 299659 CONSTRUCTION IN PROGRESS 133913 133913 SECURITY DEPOSITS 1800 1800 X 734995 25984 2180 28164 706831 0 706831 726725 13781 8500 22281 704444 0 704444 PART X, LINE 2: THE ORGANIZATION IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND THEREFORE HAS MADE NO PROVISION FOR INCOME TAXES IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE ORGANIZATION HAS ALSO BEEN DETERMINED BY THE INTERNAL REVENUE SERVICE NOT TO BE A "PRIVATE FOUNDATION" WITHIN THE MEANING OF SECTION 509(A) AND QUALIFIES FOR DEDUCTIBLE CONTRIBUTIONS AS PROVIDED IN SECTION 170(B)(1)(A)(VI). THERE WAS NO UNRELATED BUSINESS INCOME FOR THE YEAR ENDED DECEMBER 31, 2021 AND 2020, RESPECTIVELY. FASB ASC SECTION 740, INCOME TAXES, REQUIRES EXTENSIVE DISCLOSURE ABOUT UNCERTAIN TAX POSITIONS. THE REQUIREMENTS OF THIS STANDARD ARE APPLICABLE TO NONPROFIT ORGANIZATIONS. THE ORGANIZATION EVALUATES ANY UNCERTAIN TAX POSITIONS USNG THE PROVISIONS OF FASB ASC 450, CONTINGENCIES. ACCORDINGLY, A LOSS CONTINGENCY IS RECOGNIZED WHEN IT IS PROBABLE THAT A LIABILITY HAS BEEN INCURRED AS OF THE DATE OF THE FINANCIAL STATEMENTS AND THE AMOUNT OF THE LOSS CAN BE REASONABLE ESTIMATED. THE AMOUNT RECOGNIZED IS SUBJECT TO ESTIMATE AND MANAGEMENT'S JUDGEMENT WITH RESPECT TO THE LIKELY OUTCOME OF EACH UNCERTAIN TAX POSITION. THE ORGANIZATION DOES NOT BELIEVE THAT IT HAS ENGAGED IN ANY SITUATION THAT WOULD RESULT IN AN UNCERTAIN TAX POSITION. AS A RESULT, MANAGEMENT DOES NOT BELIEVE THAT ANY MATERIAL UNCERTAIN TAX POSITIONS CURRENTLY EXIST AND THEREFORE, NO LOSS CONTINGENCY HAS BEEN RECOGNIZED IN THE ACCOMPANYING FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES OFFSET AGAINST REVENUE ON 990 2,180. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES OFFSET AGAINST REVENUE ON 990 2,180. DEPRECIATION OVERBOOKED IN AUDIT 6,320. 1 HOMEBUYER COUNSELING ASSISTANCE GRANTS 3 6000 PART I, LINE 2: ALL GRANTS ARE GIVEN TO FAMILIES AS PART OF MATCHING FUNDS FOR THEIR IDA ACCOUNT. TWO PERSONS FROM THE ORGANIZATION HAVE TO APPROVE FUNDING EACH REQUEST. THESE FUNDS ARE REIMBURSED TO WACO CDC BY THE CITY OF WACO. EACH APPLICANT IS REVIEWED BY THE CITY OF WACO IN ADDITION TO THE TWO STAFF MEMBERS AT WACO CDC. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PRPEPARED BY AN INDEPENDENT ACCOUNTING FIRM AND REVIEWED WITH THE EXECUTIVE DIRECTOR OF THE ORGANIZATION. THE EXECUTIVE DIRECTOR THEN REVIEWS THE FORM 990 WITH THE ORGANIZATION'S BOARD OF DIRECTORS FOR APPROVAL. ONCE IT IS APPROVED BY THE BOARD OF DIRECTORS, THE FORM 990 IS FILED. FORM 990, PART VI, SECTION B, LINE 12C AT LEAST ANNUALLY ALL BOARD MEMBERS AND OFFICERS CERTIFY AS TO THE EXISTENCE OF ANY CONFLICT OF INTEREST. IF IT IS DETERMINED THAT A CONFLICT OF INTEREST EXISTS, THEN THE BOARD MEMBER OR OFFICER HAVING THE CONFLICT OF INTEREST IS NOT ALLOWED TO PARTICIPATE IN ANY VOTE OR DECISION MATTER WITH RESPECT TO THE ISSUE. FORM 990, PART VI, SECTION B, LINE 15A A RECOMMENDATION MADE BY COMPENSATION COMMITTEE MADE UP OF THE BOARD OF DIRECTORS WITH FINAL DETERMINATION MADE BY VOTE OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED FROM PRIOR YEAR.