RE: Subject: Request Regarding Ownership of GO Topeka Land Holdings

Good afternoon Mr. McClure,

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Tonya L. Bailey

Sr. Executive Assistant to the City Council

City of Topeka

215 SE 7th St. Rm 211

785-368-3710

 

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From: Henry McClure <mcre13@gmail.com>
Sent: Tuesday, August 11, 2026 11:17 AM
To: Kevin Cook <kevin.cook@snco.us>; Karen A. Hiller <khiller@topeka.org>; MCRE Media <mcre1.9999@blogger.com>
Cc: Governing Body <governingbody@topeka.org>; Robert M. Perez <rmperez@topeka.org>; Bill Riphahn <bill.riphahn@snco.us>; aaron.mays@snco.us
Subject: Subject: Request Regarding Ownership of GO Topeka Land Holdings

 

Notice: -----This message was sent by an external sender-----

 

Dear Councilmember Hiller and Commissioner Cook,

I am writing regarding the approximately 230+ acres of land currently titled to Growth Organization of Topeka/Shawnee County, Inc. (GO Topeka), particularly the large tracts in the Central Crossing Commerce Park area along SW 49th Street and the parcel near Wakarusa.

These properties were acquired and held using public economic development resources. In my view, land of this nature should not remain under the permanent control of a private nonprofit. It should be deeded back to the City of Topeka, Shawnee County, or held collectively by JEDO so that elected officials — and ultimately the voters — retain clear public oversight.

GO Topeka currently exercises significant discretion over these assets with limited direct accountability to the public. That arrangement has allowed the organization to operate with a level of independence that, in practice, can feel like a stranglehold on the community’s ability to set its own economic development priorities. Those days need to end.

I respectfully ask that you consider initiating a formal review of these land holdings and explore transferring title to the appropriate public body (City, County, or JEDO). Public land acquired with public funds should remain under public control.

Thank you for your attention to this matter. I am available to discuss it further if helpful.

Sincerely,

Henry McClure

Topeka, Kansas

 

 

 

 

MCRE, LLC

3625 SW 29^th Street

Topeka KS 66614

785.383.9994

Subject: Request Regarding Ownership of GO Topeka Land Holdings

Dear Councilmember Hiller and Commissioner Cook,

I am writing regarding the approximately 230+ acres of land currently titled to Growth Organization of Topeka/Shawnee County, Inc. (GO Topeka), particularly the large tracts in the Central Crossing Commerce Park area along SW 49th Street and the parcel near Wakarusa.

These properties were acquired and held using public economic development resources. In my view, land of this nature should not remain under the permanent control of a private nonprofit. It should be deeded back to the City of Topeka, Shawnee County, or held collectively by JEDO so that elected officials — and ultimately the voters — retain clear public oversight.

GO Topeka currently exercises significant discretion over these assets with limited direct accountability to the public. That arrangement has allowed the organization to operate with a level of independence that, in practice, can feel like a stranglehold on the community’s ability to set its own economic development priorities. Those days need to end.

I respectfully ask that you consider initiating a formal review of these land holdings and explore transferring title to the appropriate public body (City, County, or JEDO). Public land acquired with public funds should remain under public control.

Thank you for your attention to this matter. I am available to discuss it further if helpful.

Sincerely,

Henry McClure

Topeka, Kansas

MCRE, LLC

3625 SW 29^th Street

Topeka KS 66614

785.383.9994

Form 990s do not list the specific publicly traded securities (individual stocks, bonds, mutual funds, etc.) by name or ticker.

What the filings actually disclose

On the Form 990 balance sheet, investments appear only as aggregate totals:

• Investments — publicly traded securities (one recent extract showed ~$2.46 million)
• Investments — program-related (one extract showed ~$1.79 million)

There is no required or voluntary schedule that itemizes the individual holdings (e.g., “X shares of Apple” or “Y Treasury notes”). Form 990 reporting for these categories is summary-level only.

More detail from audited financial statements (more useful than the 990)

Older audited financials (e.g., the 2019 consolidated audit of Growth Organization of Topeka/Shawnee County, Inc. & Subsidiary) provide clearer insight into the nature of the investments:

• The organization invests primarily in low-risk, highly liquid instruments:
  • U.S. government securities money market funds
  • Certificates of deposit (CDs)
  • U.S. Treasury notes and bills

These are valued at fair value (or cost plus accrued interest for CDs). The audit notes describe them as Level 1 assets (quoted market prices) for the Treasuries and money market funds.

More recent internal financial statements presented to JEDO (e.g., year-end 2024) continue to show a sizable “Investments” line (around $6.5–$6.9 million in one presentation), consistent with ongoing holdings of similar conservative instruments rather than equity portfolios or alternative investments.

Program-related investments

The “Investments — program-related” line is typically used for investments that further the organization’s exempt purpose (economic development) rather than pure financial return. In GO Topeka’s case, this category most likely relates to:

• Support for related entities or initiatives (including the East Topeka Learning Center / ETLC Support Corporation structure)
• Or other economic-development-related financial instruments

It is not a portfolio of publicly traded stocks.

Summary

Category	What it generally is	Detail disclosed publicly?	Typical composition (from audits)
Publicly traded securities	Marketable securities held for investment	Aggregate total only	Money market funds, U.S. Treasuries, CDs
Program-related investments	Investments that advance the mission	Aggregate total only	Related to economic development activities

Bottom line: GO Topeka does not appear to hold a significant portfolio of individual publicly traded equities that are disclosed by name. The publicly traded securities line reflects conservative, liquid fixed-income and cash-equivalent investments (primarily government securities and CDs). The Form 990s and available audits do not provide a security-by-security listing.

What the Form 990s actually show

On the balance sheet (Part X of Form 990), real estate is reported only in highly aggregated form:

• “Land, buildings, and equipment” (net of accumulated depreciation) appears as a single line item.
• In the available extracts (e.g., the 2022 filing), this net amount is very small — around $42,783.
• The large total assets ($20M–$23M range in recent years) come mostly from:
  • Cash and temporary cash investments (often $13M+)
  • Investments (publicly traded securities and program-related investments)
  • Other assets
  • And a very large deferred revenue liability (often $15M+)

gage 37

Do you want to look at the plans at 37^th and Gage? 

https://drive.google.com/drive/folders/1fKWa_oQzw1Q61BSlD99quQ1-KUzfiJ9H?usp=sharing

H

Henry McClure 

Time Kills Deals 

785.383.9994

444

Go Topeka must go -

 Here’s a clear, year-by-year summary of GO Topeka’s Investments line from the most recent available financial presentations to the JEDO board and earlier audited statements.

Investments Totals (Statement of Financial Position)

Period	Investments Balance	Notes / Source
Dec 31, 2024 (Year-end)	$6,854,865	Up $325k from prior year. JEDO Feb 26, 2025 presentation
Dec 31, 2023	$6,529,644	JEDO presentation
Sept 30, 2023	$6,445,600	Quarterly
March 31, 2023	$6,300,482	Quarterly
Dec 31, 2019 (Audited)	$6,119,422	Full audit – detailed composition available
Dec 31, 2018 (Audited)	$5,996,560	Full audit

Composition (from the most detailed source available)

The 2019 audited consolidated financial statements break down the investments as follows (this is the clearest public detail we have):

• Money market fund: ~$3.35 million (Level 1)
• U.S. Treasury Notes: ~$281,000
• U.S. Treasury Bill: ~$149,000
• Certificates of Deposit (carried at cost): ~$2.34 million

Total 2019: $6.12 million

These are conservative, highly liquid, low-risk instruments (primarily government securities and CDs). There is no evidence in the public filings of a large equity stock portfolio or alternative investments.

Key observations from recent years

• The Investments balance has remained relatively stable in the $6.1–$6.9 million range since at least 2018–2019.
• The large overall asset base ($20M–$23M) is driven far more by Cash & Cash Equivalents (often $11–$13 million) and the very large Deferred Revenue liability (typically $16–$18 million, reflecting committed but not-yet-paid incentives) than by the investment portfolio.
• “Board-designated” net assets of $1,787,305 have been consistent for several years and appear tied to the program-related / designated investment category.
• Interest and investment income is budgeted modestly (around $50–55k in recent budgets) and is a minor revenue source compared with the economic development sales tax.

Bottom line: GO Topeka maintains a stable, conservative investment portfolio of roughly $6.5–$6.9 million, consisting mainly of money market funds, U.S. Treasuries, and certificates of deposit. The Form 990 and JEDO financial presentations report only the aggregate total — they do not list individual securities by name or ticker.