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MONADNOCK ECONOMIC DEVELOPMENT CORPORATION: Form 990, tax year 2023

View the entire original 990 at ProPublica ↗

Organization
MONADNOCK ECONOMIC DEVELOPMENT CORPORATION (EIN 02-0395538)
Tax period
2023-07-01 to 2024-06-30
Filed
2025-05-14
IRS object ID
202541349349304674
Schema version
2023v6.0
Source
Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header ReturnHeader

FieldValueIRS element (for citing)
Return2025-05-14T10:47:00-05:00ReturnTs
Tax Period End2024-06-30TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN020449197PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1OSTER & WHEELER PCBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1265 WASHINGTON STAddressLine1Txt
CityKEENECityNm
State AbbreviationNHStateAbbreviationCd
ZIP03431ZIPCd
FieldValueIRS element (for citing)
Return Type990ReturnTypeCd
Tax Period Begin2023-07-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN020395538EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1MONADNOCK ECONOMIC DEVELOPMENT CORPBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlMONABusinessNameControlTxt
Phone6033521000PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1PO BOX 704AddressLine1Txt
CityKEENECityNm
State AbbreviationNHStateAbbreviationCd
ZIP03431ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonSTEVEN SILVERSTEINPersonNm
Person TitleTREASURERPersonTitleTxt
Phone6033521000PhoneNum
Signature2025-05-14SignatureDt
Discuss With Paid PreparerYes (1)DiscussWithPaidPreparerInd
FieldValueIRS element (for citing)
IRS Responsible Prty Info Curr0IRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonCHRISTOPHER R WHEELER CPAPreparerPersonNm
PTINP01436628PTIN
Phone6033524500PhoneNum
Preparation2025-05-14PreparationDt
FieldValueIRS element (for citing)
Tax2023TaxYr
Build TS2025-03-06 01:10:19ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Principal OfficerSTEVEN SILVERSTEINPrincipalOfficerNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line1PO BOX 704AddressLine1Txt
CityKEENECityNm
State AbbreviationNHStateAbbreviationCd
ZIP03431ZIPCd
FieldValueIRS element (for citing)
Gross Receipts$10,157,568GrossReceiptsAmt
Group Return For Affiliates0GroupReturnForAffiliatesInd
Organization501c3Yes (X)Organization501c3Ind
Website AddressWWW.MONADNOCK-DEVELOPMENT.ORGWebsiteAddressTxt
Type Of Organization CorpYes (X)TypeOfOrganizationCorpInd
Formation1986FormationYr
Legal Domicile StateNHLegalDomicileStateCd
Activity Or MissionPROMOTION OF BUSINESS DEVELOPMENT AND RELOCATIONS TO THE MONADNOCK REGION OF NEW HAMPSHIRE.ActivityOrMissionDesc
Voting Members Governing Body10VotingMembersGoverningBodyCnt
Voting Members Independent10VotingMembersIndependentCnt
Total Employee2TotalEmployeeCnt
Total Volunteers0TotalVolunteersCnt
Total Gross UBI$0TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm$0NetUnrelatedBusTxblIncmAmt
PY Contributions Grants$148,027PYContributionsGrantsAmt
CY Contributions Grants$2,661,632CYContributionsGrantsAmt
PY Program Service Revenue$1,702,239PYProgramServiceRevenueAmt
CY Program Service Revenue$1,655,363CYProgramServiceRevenueAmt
PY Investment Income-$155,846PYInvestmentIncomeAmt
CY Investment Income$947,464CYInvestmentIncomeAmt
PY Other Revenue$11,584PYOtherRevenueAmt
CY Other Revenue$14,902CYOtherRevenueAmt
PY Total Revenue$1,706,004PYTotalRevenueAmt
CY Total Revenue$5,279,361CYTotalRevenueAmt
PY Grants And Similar Paid$0PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid$0CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members$0PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members$0CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid$105,625PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid$126,739CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns$0PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$0CYTotalFundraisingExpenseAmt
PY Other Expenses$2,103,681PYOtherExpensesAmt
CY Other Expenses$2,090,099CYOtherExpensesAmt
PY Total Expenses$2,209,306PYTotalExpensesAmt
CY Total Expenses$2,216,838CYTotalExpensesAmt
PY Revenues Less Expenses-$503,302PYRevenuesLessExpensesAmt
CY Revenues Less Expenses$3,062,523CYRevenuesLessExpensesAmt
Total Assets BOY$41,455,854TotalAssetsBOYAmt
Total Assets EOY$35,848,860TotalAssetsEOYAmt
Total Liabilities BOY$43,936,758TotalLiabilitiesBOYAmt
Total Liabilities EOY$35,267,241TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY-$2,480,904NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$581,619NetAssetsOrFundBalancesEOYAmt
MissionPROMOTION OF BUSINESS DEVELOPMENT AND RELOCATIONS TO THE MONADNOCK REGION OF NEW HAMPSHIRE.MissionDesc
Significant New Program Srvc0SignificantNewProgramSrvcInd
Significant Change0SignificantChangeInd
Expense$1,974,058ExpenseAmt
Revenue$1,670,265RevenueAmt
DescPROMOTING OF BUSINESS DEVELOPMENT AND RELOCATIONS TO THE MONADNOCK REGION OF NEW HAMPSHIRE.Desc
Total Program Service Expenses$1,974,058TotalProgramServiceExpensesAmt
Described In Section501c3Yes (1)DescribedInSection501c3Ind
Schedule B RequiredYes (1)ScheduleBRequiredInd
Political Campaign Acty0PoliticalCampaignActyInd
Lobbying Activities0LobbyingActivitiesInd
Subject To Proxy Tax0SubjectToProxyTaxInd
Donor Advised Fund0DonorAdvisedFundInd
Conservation Easements0ConservationEasementsInd
Collections Of Art0CollectionsOfArtInd
Credit Counseling0CreditCounselingInd
Donor Rstr Or Quasi Endowments0DonorRstrOrQuasiEndowmentsInd
Report Land Building EquipmentYes (1)ReportLandBuildingEquipmentInd
Report Investments Other Sec0ReportInvestmentsOtherSecInd
Report Program Related Invst0ReportProgramRelatedInvstInd
Report Other AssetsYes (1)ReportOtherAssetsInd
Report Other LiabilitiesYes (1)ReportOtherLiabilitiesInd
Include FIN48 FootnoteYes (1)IncludeFIN48FootnoteInd
Independent Audit Fincl StmtYes (1)IndependentAuditFinclStmtInd
Consolidated Audit Fincl StmtYes (1)ConsolidatedAuditFinclStmtInd
School Operating0SchoolOperatingInd
Foreign Office0ForeignOfficeInd
Foreign Activities0ForeignActivitiesInd
More Than5000 K To Org0MoreThan5000KToOrgInd
More Than5000 K To Individuals0MoreThan5000KToIndividualsInd
Professional Fundraising0ProfessionalFundraisingInd
Fundraising Activities0FundraisingActivitiesInd
Gaming Activities0GamingActivitiesInd
Operate Hospital0OperateHospitalInd
Grants To Organizations0GrantsToOrganizationsInd
Grants To Individuals0GrantsToIndividualsInd
Schedule J Required0ScheduleJRequiredInd
Tax Exempt Bonds0TaxExemptBondsInd
Engaged In Excess Benefit Trans0EngagedInExcessBenefitTransInd
PY Excess Benefit Trans0PYExcessBenefitTransInd
Loan Outstanding0LoanOutstandingInd
Grant To Related Person0GrantToRelatedPersonInd
Business Rln With Org Mem0BusinessRlnWithOrgMemInd
Business Rln With Fam Mem0BusinessRlnWithFamMemInd
Business Rln With35 Ctrl Ent0BusinessRlnWith35CtrlEntInd
Deductible Non Cash ContriYes (1)DeductibleNonCashContriInd
Deductible Art Contribution0DeductibleArtContributionInd
Terminate Operations0TerminateOperationsInd
Partial Liquidation0PartialLiquidationInd
Disregarded EntityYes (1)DisregardedEntityInd
Related Entity0RelatedEntityInd
Related Organization Ctrl Ent0RelatedOrganizationCtrlEntInd
Trnsfr Exmpt Non Chrtbl Rltd Org0TrnsfrExmptNonChrtblRltdOrgInd
Activities Conducted Prtshp0ActivitiesConductedPrtshpInd
Schedule O RequiredYes (1)ScheduleORequiredInd
IRP Document7IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Backup Wthld ComplianceYes (1)BackupWthldComplianceInd
Employee2EmployeeCnt
Employment Tax Returns FiledYes (1)EmploymentTaxReturnsFiledInd
Unrelated Bus Incm Over Limit0UnrelatedBusIncmOverLimitInd
Foreign Financial Account0ForeignFinancialAccountInd
Prohibited Tax Shelter Trans0ProhibitedTaxShelterTransInd
Taxable Party Notification0TaxablePartyNotificationInd
Nondeductible Contributions0NondeductibleContributionsInd
Quid Pro Quo Contributions0QuidProQuoContributionsInd
Form8282 Property Disposed Of0Form8282PropertyDisposedOfInd
Rcv Fnds To Pay Prsnl Bnft Cntrct0RcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft Cntrct0PayPremiumsPrsnlBnftCntrctInd
Indoor Tanning Services0IndoorTanningServicesInd
Subj To Tax Rmnrtn Ex Prcht Pymt0SubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst Inc0SubjectToExcsTaxNetInvstIncInd
Info In Schedule O Part VIYes (X)InfoInScheduleOPartVIInd
Governing Body Voting Members10GoverningBodyVotingMembersCnt
Independent Voting Member10IndependentVotingMemberCnt
Family Or Business Rln0FamilyOrBusinessRlnInd
Delegation Of Mgmt Duties0DelegationOfMgmtDutiesInd
Change To Org Documents0ChangeToOrgDocumentsInd
Material Diversion Or Misuse0MaterialDiversionOrMisuseInd
Members Or Stockholders0MembersOrStockholdersInd
Election Of Board Members0ElectionOfBoardMembersInd
Decisions Subject To Approva0DecisionsSubjectToApprovaInd
Minutes Of Governing BodyYes (1)MinutesOfGoverningBodyInd
Minutes Of CommitteesYes (1)MinutesOfCommitteesInd
Officer Mailing Address0OfficerMailingAddressInd
Local Chapters0LocalChaptersInd
Form990 Provided To Gvrn Body0Form990ProvidedToGvrnBodyInd
Conflict Of Interest PolicyYes (1)ConflictOfInterestPolicyInd
Annual Disclosure Covered PrsnYes (1)AnnualDisclosureCoveredPrsnInd
Regular Monitoring EnfrcYes (1)RegularMonitoringEnfrcInd
Whistleblower PolicyYes (1)WhistleblowerPolicyInd
Document Retention PolicyYes (1)DocumentRetentionPolicyInd
Compensation Process CEOYes (1)CompensationProcessCEOInd
Compensation Process OtherYes (1)CompensationProcessOtherInd
Investment In Joint Venture0InvestmentInJointVentureInd
States Where Copy Of Return Is FldNHStatesWhereCopyOfReturnIsFldCd
Upon RequestYes (X)UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

FieldValueIRS element (for citing)
PersonD'ALESSIO AND ASSOCIATES INC COPersonNm
Phone6033521000PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1603-352-1000 543 WEST STREETAddressLine1Txt
CityKEENECityNm
State AbbreviationNHStateAbbreviationCd
ZIP03431ZIPCd

Form990 Part VII Section A Form990PartVIISectionAGrp (11 entries)

TitleTitleTxtAverage Hours Per WeekAverageHoursPerWeekRtIndividual Trustee Or DirectorIndividualTrusteeOrDirectorIndOfficerOfficerIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmt
AMANDA LITTLETON
SECRETARY1.00Yes (X)Yes (X)$0$0$0
ANDREW RICHARDSON
TRUSTEE1.00Yes (X)$0$0$0
DAN OSBORN
TRUSTEE1.00Yes (X)$0$0$0
GEORGE HANSEL
TRUSTEE1.00Yes (X)$0$0$0
JULIANA BERGERON
TRUSTEE1.00Yes (X)$0$0$0
RIK EKSTROM
TRUSTEE1.00Yes (X)$0$0$0
ROBERT EDWARDS
TRUSTEE1.00Yes (X)$0$0$0
STEPHEN BRAGDON
TRUSTEE1.00Yes (X)$0$0$0
STEVE SILVERSTEIN
TREASURER2.00Yes (X)Yes (X)$0$0$0
TODD HORNER
PRESIDENT2.00Yes (X)Yes (X)$0$0$0
CODY MORRISON
EXECUTIVE DIRECTOR40.00Yes (X)$90,500$0$7,151
FieldValueIRS element (for citing)
Total Reportable Comp From Org$90,500TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org$0TotReportableCompRltdOrgAmt
Total Other Compensation$7,151TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K0IndivRcvdGreaterThan100KCnt
Former Ofcr Employees Listed0FormerOfcrEmployeesListedInd
Total Comp Greater Than150 K0TotalCompGreaterThan150KInd
Compensation From Other Srcs0CompensationFromOtherSrcsInd
Cntrct Rcvd Greater Than100 K0CntrctRcvdGreaterThan100KCnt
All Other Contributions$2,661,632AllOtherContributionsAmt
Noncash Contributions$2,500,803NoncashContributionsAmt
Total Contributions$2,661,632TotalContributionsAmt

Program Service Revenue ProgramServiceRevenueGrp (3 entries)

DescDescBusinessBusinessCdTotal Revenue ColumnTotalRevenueColumnAmtRelated Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt
RENTS531120$1,517,583$1,517,583
INCOME FROM LOANS541900$135,280$135,280
APPLICATION FEES541900$2,500$2,500
FieldValueIRS element (for citing)
Total Program Service Revenue$1,655,363TotalProgramServiceRevenueAmt

Gross Amount Sales Assets GrossAmountSalesAssetsGrp

FieldValueIRS element (for citing)
Other$5,825,671OtherAmt

Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp

FieldValueIRS element (for citing)
Other$4,878,207OtherAmt

Gain Or Loss GainOrLossGrp

FieldValueIRS element (for citing)
Other$947,464OtherAmt

Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp

FieldValueIRS element (for citing)
Total Revenue Column$947,464TotalRevenueColumnAmt
Exclusion$947,464ExclusionAmt

Other Revenue Misc OtherRevenueMiscGrp

FieldValueIRS element (for citing)
DescINCOME FROM DEPOSITSDesc
Business541900BusinessCd
Total Revenue Column$14,902TotalRevenueColumnAmt
Related Or Exempt Func Income$14,902RelatedOrExemptFuncIncomeAmt
FieldValueIRS element (for citing)
Other Revenue Total$14,902OtherRevenueTotalAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$5,279,361TotalRevenueColumnAmt
Related Or Exempt Func Income$1,670,265RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$0UnrelatedBusinessRevenueAmt
Exclusion$947,464ExclusionAmt

Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp

FieldValueIRS element (for citing)
Total$97,591TotalAmt
Management And General$97,591ManagementAndGeneralAmt

Other Salaries And Wages OtherSalariesAndWagesGrp

FieldValueIRS element (for citing)
Total$19,545TotalAmt
Management And General$19,545ManagementAndGeneralAmt

Payroll Taxes PayrollTaxesGrp

FieldValueIRS element (for citing)
Total$9,603TotalAmt
Management And General$9,603ManagementAndGeneralAmt

Fees For Services Legal FeesForServicesLegalGrp

FieldValueIRS element (for citing)
Total$1,307TotalAmt
Program Services$1,307ProgramServicesAmt

Fees For Services Accounting FeesForServicesAccountingGrp

FieldValueIRS element (for citing)
Total$54,380TotalAmt
Management And General$54,380ManagementAndGeneralAmt

Fees For Services Other FeesForServicesOtherGrp

FieldValueIRS element (for citing)
Total$105,420TotalAmt
Program Services$105,420ProgramServicesAmt

Advertising AdvertisingGrp

FieldValueIRS element (for citing)
Total$12,820TotalAmt
Management And General$12,820ManagementAndGeneralAmt

Office Expenses OfficeExpensesGrp

FieldValueIRS element (for citing)
Total$367TotalAmt
Management And General$367ManagementAndGeneralAmt

Occupancy OccupancyGrp

FieldValueIRS element (for citing)
Total$4,559TotalAmt
Program Services$1,259ProgramServicesAmt
Management And General$3,300ManagementAndGeneralAmt

Conferences Meetings ConferencesMeetingsGrp

FieldValueIRS element (for citing)
Total$2,500TotalAmt
Management And General$2,500ManagementAndGeneralAmt

Interest InterestGrp

FieldValueIRS element (for citing)
Total$659,531TotalAmt
Program Services$659,531ProgramServicesAmt

Depreciation Depletion DepreciationDepletionGrp

FieldValueIRS element (for citing)
Total$990,102TotalAmt
Program Services$987,114ProgramServicesAmt
Management And General$2,988ManagementAndGeneralAmt

Insurance InsuranceGrp

FieldValueIRS element (for citing)
Total$26,911TotalAmt
Management And General$26,911ManagementAndGeneralAmt

Other Expenses OtherExpensesGrp (4 entries)

DescDescTotalTotalAmtProgram ServicesProgramServicesAmtManagement And GeneralManagementAndGeneralAmt
BAD DEBTS$219,210$219,210
STATE TAXES$4,615$4,615
LICENSES AND PERMITS$2,600$2,600
REPAIRS AND MAINTENANCE$2,077$2,077

All Other Expenses AllOtherExpensesGrp

FieldValueIRS element (for citing)
Total$3,700TotalAmt
Program Services$217ProgramServicesAmt
Management And General$3,483ManagementAndGeneralAmt

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$2,216,838TotalAmt
Program Services$1,974,058ProgramServicesAmt
Management And General$242,780ManagementAndGeneralAmt
Fundraising$0FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

FieldValueIRS element (for citing)
BOY$1,845,491BOYAmt
EOY$1,796,826EOYAmt

Accounts Receivable AccountsReceivableGrp

FieldValueIRS element (for citing)
EOY$12,927EOYAmt

Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp

FieldValueIRS element (for citing)
BOY$9,701,968BOYAmt
EOY$9,774,298EOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

FieldValueIRS element (for citing)
BOY$4,484BOYAmt
EOY$2,135EOYAmt
FieldValueIRS element (for citing)
Land Bldg Equip Cost Or Other Bss$26,124,547LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec$4,193,264LandBldgEquipAccumDeprecAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

FieldValueIRS element (for citing)
BOY$27,746,432BOYAmt
EOY$21,931,283EOYAmt

Other Assets Total OtherAssetsTotalGrp

FieldValueIRS element (for citing)
BOY$2,157,479BOYAmt
EOY$2,331,391EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$41,455,854BOYAmt
EOY$35,848,860EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

FieldValueIRS element (for citing)
BOY$149,306BOYAmt
EOY$152,312EOYAmt

Deferred Revenue DeferredRevenueGrp

FieldValueIRS element (for citing)
BOY$55,146BOYAmt
EOY$55,146EOYAmt

Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp

FieldValueIRS element (for citing)
BOY$43,500,174BOYAmt
EOY$34,829,463EOYAmt

Other Liabilities OtherLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$232,132BOYAmt
EOY$230,320EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$43,936,758BOYAmt
EOY$35,267,241EOYAmt
FieldValueIRS element (for citing)
Organization Follows FASB117Yes (X)OrganizationFollowsFASB117Ind

No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp

FieldValueIRS element (for citing)
BOY-$3,566,077BOYAmt
EOY-$765,024EOYAmt

Donor Restriction Net Assets DonorRestrictionNetAssetsGrp

FieldValueIRS element (for citing)
BOY$1,085,173BOYAmt
EOY$1,346,643EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY-$2,480,904BOYAmt
EOY$581,619EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$41,455,854BOYAmt
EOY$35,848,860EOYAmt
FieldValueIRS element (for citing)
Reconcilation Revenue Expnss$3,062,523ReconcilationRevenueExpnssAmt
Other Changes In Net Assets$0OtherChangesInNetAssetsAmt
Method Of Accounting AccrualYes (X)MethodOfAccountingAccrualInd
Accountant Compile Or Review0AccountantCompileOrReviewInd
FS AuditedYes (1)FSAuditedInd

FS Audited Basis FSAuditedBasisGrp

FieldValueIRS element (for citing)
Consolidated Basis Fincl StmtYes (X)ConsolidatedBasisFinclStmtInd
FieldValueIRS element (for citing)
Audit CommitteeYes (1)AuditCommitteeInd
Federal Grant Audit Required0FederalGrantAuditRequiredInd

Schedule A IRS990ScheduleA

FieldValueIRS element (for citing)
Public Organization170Yes (X)PublicOrganization170Ind

Gifts Grants Contri Rcvd170 GiftsGrantsContriRcvd170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$897,418CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$692,886CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$296,661CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$148,027CurrentTaxYearMinus1YearAmt
Current Tax Year$2,661,632CurrentTaxYearAmt
Total$4,696,624TotalAmt

Total Calendar Year170 TotalCalendarYear170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$897,418CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$692,886CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$296,661CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$148,027CurrentTaxYearMinus1YearAmt
Current Tax Year$2,661,632CurrentTaxYearAmt
Total$4,696,624TotalAmt
FieldValueIRS element (for citing)
Public Support Total170$4,696,624PublicSupportTotal170Amt

Other Income170 OtherIncome170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$71,607CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$25,649CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$770CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$11,584CurrentTaxYearMinus1YearAmt
Current Tax Year$14,902CurrentTaxYearAmt
Total$124,512TotalAmt
FieldValueIRS element (for citing)
Total Support$4,821,136TotalSupportAmt
Public Support CY1700.97420PublicSupportCY170Pct
Public Support PY1700.95340PublicSupportPY170Pct
Thirty Thr Pct Suprt Tests CY170Yes (X)ThirtyThrPctSuprtTestsCY170Ind

Schedule B IRS990ScheduleB

Contributor Information ContributorInformationGrp

FieldValueIRS element (for citing)
ContributorRESTRICTEDContributorNum

Contributor Business Name ContributorBusinessName

FieldValueIRS element (for citing)
Business Name Line1RESTRICTEDBusinessNameLine1

Contributor US Address ContributorUSAddress

FieldValueIRS element (for citing)
Address Line1RESTRICTEDAddressLine1
Address Line2RESTRICTEDAddressLine2
CityRESTRICTEDCity
StateRESTRICTEDState
ZIP CodeRESTRICTEDZIPCode
FieldValueIRS element (for citing)
Total ContributionsRESTRICTEDTotalContributionsAmt

Schedule D IRS990ScheduleD

Land LandGrp

FieldValueIRS element (for citing)
Investment Cost Or Other Basis$30,000InvestmentCostOrOtherBasisAmt
Other Cost Or Other Basis$488,500OtherCostOrOtherBasisAmt
Book Value$518,500BookValueAmt

Buildings BuildingsGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$25,209,910OtherCostOrOtherBasisAmt
Depreciation$4,193,264DepreciationAmt
Book Value$21,016,646BookValueAmt

Other Land Buildings OtherLandBuildingsGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$396,137OtherCostOrOtherBasisAmt
Book Value$396,137BookValueAmt
FieldValueIRS element (for citing)
Total Book Value Land Buildings$21,931,283TotalBookValueLandBuildingsAmt

Other Assets Org OtherAssetsOrgGrp (5 entries)

DescDescBook ValueBookValueAmt
DEFERRED RENT RECEIVABLE$2,053,302
INTRA ENTITY RECEIVABLE$229,235
INTEREST RECEIVABLE$47,494
DEPOSITS$275
OPERATING RIGHT-OF-USE ASSET, NET$1,085
FieldValueIRS element (for citing)
Total Book Value Other Assets$2,331,391TotalBookValueOtherAssetsAmt

Other Liabilities Org OtherLiabilitiesOrgGrp (2 entries)

DescDescAmtAmt
INTER ENTITY ACCOUNTS PAYABLE$229,235
OPERATING LEASE LIABILITY$1,085
FieldValueIRS element (for citing)
Total Liability$230,320TotalLiabilityAmt
Footnote TextYes (X)FootnoteTextInd
Total Rev Etc Audited Fincl Stmt$5,279,361TotalRevEtcAuditedFinclStmtAmt
Revenue Not Reported$0RevenueNotReportedAmt
Revenue Subtotal$5,279,361RevenueSubtotalAmt
Revenue Not Reported Fincl Stmt$0RevenueNotReportedFinclStmtAmt
Total Revenue Per Form990$5,279,361TotalRevenuePerForm990Amt
Tot Expns Etc Audited Fincl Stmt$2,216,838TotExpnsEtcAuditedFinclStmtAmt
Expenses Not Reported$0ExpensesNotReportedAmt
Expenses Subtotal$2,216,838ExpensesSubtotalAmt
Expenses Not Rpt Fincl Stmt$0ExpensesNotRptFinclStmtAmt
Total Expenses Per Form990$2,216,838TotalExpensesPerForm990Amt

Supplemental Information Detail SupplementalInformationDetail

FieldValueIRS element (for citing)
Form And Line ReferencePART X, LINE 2:FormAndLineReferenceDesc
ExplanationMEDC QUALIFIES AS AN ORGANIZATION EXEMPT FROM INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC). ACCORDINGLY, NO PROVISION FOR INCOME TAXES IS REQUIRED. MEDC HAS EVALUATED ITS SIGNIFICANT TAX POSITIONS, INCLUDING THEIR TAX-EXEMPT STATUS, AND DETERMINED THAT THEY DO NOT NEED TO RECOGNIZE A LIABILITY FOR ANY UNCERTAIN TAX POSITIONS FOR INTEREST, PENALTIES OR POTENTIAL TAXES. ACCORDINGLY, NO PROVISION FOR INCOME TAXES IS REQUIRED. MEDC'S ANNUAL FEDERAL RETURN FILING (FORM 990) AND NEW HAMPSHIRE ANNUAL REPORT (NHCT-12) REMAIN SUBJECT TO EXAMINATION BY MAJOR TAX JURISDICTIONS FOR THE STANDARD THREE-YEAR STATUTE OF LIMITATIONS. MEDC PRODUCTION AVE. LLC AND HEBERTON ADVANCEMENT LLC, ARE FOR PROFIT SUBSIDIARIES AND ARE TAXED AS SINGLE MEMBER LLC ENTITIES, WHICH ARE DISREGARDED AT THE FEDERAL LEVEL. RAILROAD LAND DEVELOPMENT LLC, MEDC PRODUCTION AVE. LLC, HEBERTON ADVANCEMENT LLC, AND 76 WINTER STREET LLC ARE CONSOLIDATED AS PART OF MEDC'S NON-PROFIT TAX FILING.ExplanationTxt

Schedule M IRS990ScheduleM

Other Non Cash Contri Table OtherNonCashContriTableGrp

FieldValueIRS element (for citing)
Non Cash CheckboxYes (X)NonCashCheckboxInd
DescFORGIVENESS OF DEBTDesc
Contribution2ContributionCnt
Noncash Contributions Rpt F990$2,500,803NoncashContributionsRptF990Amt
Method Of Determining RevenuesREMAINING LOAN PRINCMethodOfDeterminingRevenuesTxt
FieldValueIRS element (for citing)
Any Property That Must Be Held0AnyPropertyThatMustBeHeldInd
Review Process Unusual NC Gifts0ReviewProcessUnusualNCGiftsInd
Third Parties Used0ThirdPartiesUsedInd

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (4 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
FORM 990, PART VI, SECTION B, LINE 11BREVIEW OF THE FORM 990 AND INDEPENDENT AUDITORS' REPORT IS CONDUCTED BY THE TREASURER AND PRESIDENT PRIOR TO FILING.
FORM 990, PART VI, SECTION B, LINE 12CTRUSTEES ARE REQUIRED TO REVIEW THE POLICY, DISCLOSE ANY CONFLICTS, AND CERTIFY EACH YEAR.
FORM 990, PART VI, SECTION B, LINE 15BOARD OF DIRECTORS REVIEWS AND APPROVES MANAGEMENT COMPENSATION ANNUALLY.
FORM 990, PART VI, SECTION C, LINE 19ALL GOVERNING DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST AT THE OFFICE WHERE THE RECORDS ARE MAINTAINED.

Schedule R IRS990ScheduleR

Id Disregarded Entities IdDisregardedEntitiesGrp (3 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdEINEINPrimary ActivitiesPrimaryActivitiesTxtLegal Domicile StateLegalDomicileStateCdDirect Controlling NADirectControllingNACd
RAILROAD LAND DEVELOPMENT LLC
51 RAILROAD STREETKEENENH03431205431632DEVELOPMENT, CONSTRUCTIONNHN/A
33 WINTER STREET LLC
51 RAILROAD STREETKEENENH03431DEVELOPMENT, CONSTRUCTIONNHN/A
HEBERTON ADVANCEMENT LLC
51 RAILROAD STREETKEENENH03431822405189DEVELOPMENT, CONSTRUCTIONNHN/A

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