Ikwuano Development Association
- Assets
- $29.7k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Bowie, MD
- Founding
- 05/2018
- Data as of
- 12/2019
- EIN
- 20-0933601
Organization Overview
Ikwuano Development Association is located in Bowie, MD. The organization was established in 2018. According to its NTEE Classification (T50) the organization is classified as: Philanthropy, Charity & Voluntarism Promotion, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ikwuano Development Association 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 12/2019, Ikwuano Development Association generated $16.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (21.6%) each year. All expenses for the organization totaled $8.7k during the year ending 12/2019. As we would expect to see with falling revenues, expenses have declined by (37.9%) per year over the past 2 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2019
Describe the Organization's Program Activity:
Part 3
RENOVATED AN ELEMENTARY SCHOOL AND SUPPLIED THEM WITH THEIR NEEDS. ASSISTED IN MEDICAL MISSION FOR POOR PEOPLE.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Elekwachi Nwaogbo President | 10 | $0 | |
Prince C Okenwa-Isinguzo Vice President | 5 | $0 | |
Henry Okeugo General Secretary | 8 | $0 | |
Akuchi K Okeugo Treasurer | 8 | $0 | |
Stephen Uzoanya Financial Secretary | 5 | $0 | |
Christian Agaruwa Provost | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Membership dues | $16,445 |
| Investment income | $0 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $16,445 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $500 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $8,195 |
| Total expenses | $8,695 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $10,502 |
| Other assets | $0 |
| Total assets | $29,697 |
| Total liabilities | $5,000 |
| Net assets or fund balances | $24,697 |