2024-11-15T09:22:55-06:00 2023-12-31 943108253 NOVOGRADAC & COMPANY LLP 1300 EAST 9TH ST SUITE 900 CLEVELAND OH 44114 990 2023-01-01 311573317 WOODWARD DEVELOPMENT CORPORATION WOOD 7403975262 107 SOUTH MAIN STREET MOUNT VERNON OH 43050 LARRY GRINDLE CHAIR 7403975262 2024-11-12 1 0 ANNETTE STEVENSON P01062362 2162989000 2023 2024-10-15 13:58:12Z LARRY GRINDLE 107 S MAIN STREET MOUNT VERNON OH 43050 244564 0 X WWW.THEWOODWARD.ORG X 1998 OH TO SUPPORT THE PERFORMING ARTS AND THE HERITAGE OF KNOX COUNTY BEGINNING WITH THE RENOVATION, RESTORATION AND OPERATION OF THE WOODWARD OPERA HOUSE AND TO ENGAGE IN ANY LAWFUL ART OR ACTIVITY PERMITTED UNDER THE OHIO REVISED CODE SECTION 1702.1 TO 1202.87 INCLUSIVE. 7 7 0 25 0 0 273570 206830 38667 37709 5 25 0 0 312242 244564 0 0 0 0 0 0 0 0 0 300289 711272 300289 711272 11953 -466708 17860799 17828511 13231 26727 17847568 17801784 X TO SUPPORT THE PERFORMING ARTS AND THE HERITAGE OF KNOX COUNTY BEGINNING WITH THE RENOVATION, RESTORATION AND OPERATION OF THE WOODWARD OPERA HOUSE AND TO ENGAGE IN ANY LAWFUL ART OR ACTIVITY PERMITTED UNDER THE OHIO REVISED CODE SECTION 1702.1 TO 1202.87 INCLUSIVE. 0 0 297378 37709 CREATED A COMMUNITY AND INSTITUTIONAL PARTNERSHIP THAT FORMED THE BASIS OF FUNDING A DOWNTOWN HISTORIC PRESERVATION AND ECONOMIC DEVELOPMENT PROGRAM FOR THE RESTORATION OF THE 2ND OLDEST THEATER IN THE UNITED STATES - THE WOODWARD OPERA HOUSE CIR 1851. INITIATED A MULTI-MILLION DOLLAR RESTORATION PROJECTED FOR THE 2ND OLDEST THEATER IN THE UNITED STATES - THE WOODWARD OPERA HOUSE CIR 1851, THAT WILL HOUSE A HEALTHY LOCAL FOODS INITIATIVE STORE AND CAFE IN A FOOD DEFICIENT NEIGHBORHOOD AS WELL AS ARTS AND CONFERENCE SPACE TO SUPPORT THE WOODWARD ARTS AND COMMUNITY DEVELOPMENT INITIATIVE. INITIATED A MULTI-MILLION DOLLAR RESTORATION PROJECT FOR THE 1885 C.G. COOPER BUILDING THAT WILL HOUSE A HEALTHY LOCAL FOODS INITIATIVE COMMUNITY KITCHEN PROCESSING FACILITY IN A FOOD DEFICIENT NEIGHBORHOOD AS WELL AS ARTS AND CONFERENCE SPACE TO SUPPORT THE WOODWARD ARTS AND COMMUNITY DEVELOPMENT INITIATIVE. 297378 1 1 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 7 7 0 0 0 0 0 0 0 1 1 0 0 1 1 0 1 0 0 0 0 0 OH X RENEE MCDANIEL 7403971721 20 W OHIO AVE MOUNT VERNON OH 43050 X LARRY GRINDLE CHAIR 15.00 X X 0 0 0 MAUREEN BUCHWALD VICE-CHAIR 0.00 X X 0 0 0 CHARLES KINDEL SECRETARY 0.00 X X 0 0 0 SUSAN RAMSER TRUSTEE 0.00 X 0 0 0 ANN LAUDEMAN TRUSTEE 0.00 X 0 0 0 BARRY LESTER TRUSTEE 0.00 X 0 0 0 DAVID STULLER TRUSTEE 10.00 X 0 0 0 0 0 0 0 0 0 0 0 206830 206830 FLOWTHROUGH INCOME 522200 37709 37709 37709 25 25 244564 37734 0 0 297378 297378 BAD DEBT EXPENSE 412901 412901 REPAIRS AND MAINTENANCE 740 740 MISCELLANEOUS 253 253 711272 297378 413894 0 5253 31489 1178728 703728 412901 8258018 2436262 1363449 1338351 1072813 14925566 7568252 0 194211 17860799 17828511 1333 1333 11898 16065 0 9329 13231 26727 X 17847568 17801784 17847568 17801784 17860799 17828511 X -466708 420924 X 0 0 0 X 892608 405367 432368 273570 206830 2210743 26726 26726 919334 405367 432368 273570 206830 2237469 61436 1400 50528 115000 65000 293364 0 61436 1400 50528 115000 65000 293364 1944105 4812 4 2 5 25 4848 4812 4 2 5 25 4848 358792 54202 39956 38667 37709 529326 1282938 459573 472326 312242 244564 2771643 0.70140 0.69360 0.00170 0.00210 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2436262 1363449 1072813 1072813 WOODWARD MANAGER, LLC 7568252 C 7568252 ACCRUED INTEREST 9329 9329 WOODWARD LENDER LLC AFFILIATE INTEREST RECEIVABLE X 14079 0 1 1 WOODWARD LANDLORD LLC AFFILIATE CONSTRUCTION COSTS X 4500 0 0 0 WOODWARD LANDLORD LLC AFFILIATE OPERATING COSTS X 689649 0 0 0 WOODWARD TENANT LLC AFFILIATE PROFESSIONAL FEES X 7398 0 0 0 WOODWARD LANDLORD LLC AFFILIATE OPERATING COSTS X 100 0 0 0 WOODWARD TENANT LLC AFFILIATE OPERATING COSTS X 4067 0 0 0 719793 FORM 990, PART VI, SECTION B, LINE 11B THE CORPORATION'S EXECUTIVE COMMITTEE REVIEWED THE FORM 990 PRIOR TO BEING FILED WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C EVERY DISBURSEMENT IS REVIEWED AND APPROVED/SIGNED BY THE BOARD CHAIR AND A MEMBER OF THE BOARD. ANY THAT WOULD INCLUDE PAYMENT TO A BOARD MEMBER WOULD BE SCRUTINIZED TO ASSURE IT WAS WITHIN THE BOUNDS OF A CONFLICT OF INTEREST POLICY AND GOOD BUSINESS PRACTICES. IN ADDITION, ANY POTENTIAL CONTRACTS OR BUSINESS AFFILIATIONS BETWEEN THE CORPORATION AND ANY INDIVIDUAL OR ENTITY RELATED TO A BOARD MEMBER, ARE REVIEWED BY THE EXECUTIVE COMMITTEE OF THE BOARD. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS DISCLOSURE EXPLANATION THE WOODWARD DEVELOPMENT CORPORATION PROVIDES A LISTING OF CURRENT BOARD MEMBERS, THE LAST THREE YEARS OF 990 AND 990-T RETURNS, AS WELL AS COPIES OF THE RECENT AUDIT REPORTS ON THEIR WEBSITE (WWW.THEWOODWARD.ORG). COPIES OF GOVERNING DOCUMENTS ARE AVAILABLE BY REQUEST ONLY. FORM 990, PART XI, LINE 9 ON DECEMBER 31, 2023, WOODWARD DEVELOPMENT CORPORATION ACQUIRED THE OTHER 5% INTEREST IN WOODWARD LENDER, LLC FROM WOODWARD LOCAL FOODS INITIATIVE, INC., THUS BECOMING ITS SOLE MEMBER. WOODWARD LENDER, LLC WAS TERMINATED AS A PARTNERSHIP AND TRANSFERRED ITS ASSETS TO WOODWARD DEVELOPMENT CORPORATION UPON LIQUIDATION OF THE PARTNERSHIP. THE CHANGE IN NET ASSETS IS A RESULT OF THE $420,924 TRANSFER OF INTEREST. 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