2025-03-25T17:05:13-04:00 2024-06-30 510202843 LANK JOHNSON & TULL CPAS 521 N MARKET ST EXT SEAFORD DE 19973 990 2023-07-01 510344804 LAUREL REDEVELOPMENT CORPORATION LAUR 3028750601 P O BOX 333 LAUREL DE 199560333 BRIAN SHANNON EXECUTIVE DIRECTOR 3028750601 2025-03-25 true true RICHARD L TULL CPA P00158719 3026299543 2025-03-25 2023 2025-03-06 01:10:19Z BARRY MORRISON PO BOX 333 LAUREL DE 19956 105073 false X WWW.LAURELREDEVELOPMENT.COM X 1992 DE REVITALIZING DOWNTOWN LAUREL, DE 10 10 1 9 0 546077 4596 0 35344 87477 -46456 8073 534965 100146 3350 5300 0 80079 86284 0 0 204631 -8117 288060 83467 246905 16679 4073949 4742885 20927 1829539 4053022 2913346 REVITALIZING DOWNTOWN LAUREL, DE false false 83467 5300 THE CORPORATION HAS ACQUIRED SEVERAL PROPERTIES IN DOWNTOWN LAUREL FOR THE PURPOSE OF REHABILITATING THE TOWN OF LAUREL. THE EXPENSES INCURRED RELATE TO THESE PROPERTIES. THE PROPERTIES ARE THEN RENTED TO NEW BUSINESSES, THUS REVITALIZING PART OF DOWNTOWN LAUREL. 83467 true false false false false false false false false false true false false true false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false true 12 0 1 true false false false false false false false false false false false false false false X 10 10 false false false false false false false true true false false false false false false false true false X BRIAN SHANNON 3028750601 PO BOX 333 LAUREL DE 19956 BRIAN SHANNON EXECUTIVE DI 40.00 X 75000 0 0 EDWARD L FOWLER DIRECTOR X 0 0 0 ANN LEE SECRETARY X X 0 0 0 EDWARD LEWANDOWSKI DIRECTOR X 0 0 0 BILL MCGOWAN DIRECTOR X 0 0 0 BARRY MORRISON PRESIDENT X X 0 0 0 MATT PARKER DIRECTOR X 0 0 0 H DONOVAN PHILLIPS VICE-PRESIDE X X 0 0 0 MELINDA TINGLE DIRECTOR X 0 0 0 ARTEZ WEST DIRECTOR X 0 0 0 ROBERT WHEATLEY DIRECTOR X 0 0 0 75000 false false false 4596 4596 87477 87477 13000 4927 8073 8073 8073 100146 87477 8073 5300 5300 80013 80013 533 533 5738 5738 3500 3500 -68139 -68139 650 650 2528 2528 17968 17968 3097 3097 1776 1776 11293 11293 TAXES 8146 8146 ROSEMONT OPERATIONS 6070 6070 EVENTS 2762 2762 TELEPHONE 1890 1890 342 342 83467 83467 0 0 118518 79618 1968229 1305822 806274 763363 1592134 399536 1116728 1192598 64200 1401484 4073949 4742885 15116 4685 1574854 250000 5811 20927 1829539 X 4053022 2913346 4053022 2913346 4073949 4742885 X 16679 6463 -1162818 X false false false X 22600 18500 841165 546077 4596 1432938 22600 18500 841165 546077 4596 1432938 1432938 179261 168032 59261 11300 13000 430854 1863792 180116 X 806627 806627 772281 386310 385971 13226 13226 1192598 CONSTRUCTION IN PROGRESS 1391948 PREPAID EXPENSES 9016 ORGANIZATION EXPENSES 520 1401484 FORM 990, PAGE 6, PART VI, LINE 11B THE EXECUTIVE DIRECTOR REVIEWS THE 990 BEFORE AUTHORIZING THE E-FILING. FORM 990, PAGE 6, PART VI, LINE 15B COMPENSATION IS SUBJECT TO REVIEW AND APPROVAL FOR THE EXECUTIVE DIRECTOR/PROPERTY MANAGER. ONLY WHEN AN INCREASE OR CHANGE IS DEEMED NECESSARY, THE BOARD WILL REVIEW AND DISCUSS THE COMPENSATION. THE BOARD WILL THEN VOTE ON APPROVAL OF THE PROPOSED CHANGES, THIS IS NOT DONE ANNUALLY OR ON A REGULAR BASIS, BUT ONLY WHEN NEEDED. FORM 990, PAGE 6, PART VI, LINE 19 GOVERNING DOCUMENTS OF THIS ORGANIZATION ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. A WRITTEN REQUEST MUST BE SUBMITTED TO THE SECRETARY WHO WILL THEN PROVIDE A COPY OF THE REQUESTED DOCUMENTS TO THE REQUESTOR IN A TIMELY MANNER. FORM 990, PART XI, LINE 9 ADJUST FOR MATCHING REVENUE W/ EXPENSE -1,162,818 THE ORGANIZATION HAD RECEIVED GRANTS IN PRIOR YEARS THAT WERE INTENDED FOR PROJECTS THAT ARE BEING COMPLETED OVER MULTIPLE YEARS. IN ORDER TO PROPERLY MATCH THE REVENUE WITH THE RELATED EXPENSES, DEFERRED REVENUE WAS ADDED TO THE BALANCE SHEET, WITH AN OFF SETTING ADJUSTMENT TO NET ASSETS. THIS WAS MANAGEMENT'S INTENT FROM THE BEGINNING.