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Nonprofiteer
← COLLEGE PROPERTIES OF LORAIN COUNTY INC

Form 990 for tax year 2022

Filed by COLLEGE PROPERTIES OF LORAIN COUNTY INC.

Totals

Total revenue
$4,684,073
Total expenses
$5,833,454
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$4,682,956
Investment income
$1,117
Other revenue
$0
Total assets, end of year
$39,931,180
Total liabilities, end of year
$38,541,127
Net assets or fund balances, end of year
$1,390,053
Program services expenses (Part IX)
$5,046,172
Management and general expenses
$787,282
Fundraising expenses
$0
Program service expenses (Part III)
$5,046,172

Program services were 86.5% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: Hotel Operations

    total $4,230,835 · related or exempt $4,230,835

  • 2b · Program service revenue: Rental Income

    total $452,121 · related or exempt $452,121

  • 3 · Investment income

    total $1,117 · excluded $1,117

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $641,751 · management and general $641,751

  • 11c · Fees: accounting

    total $31,754 · management and general $31,754

  • 11g · Fees: other

    total $1,681 · management and general $1,681

  • 12 · Advertising and promotion

    total $289,695 · program services $289,695

  • 14 · Information technology

    total $105,470 · program services $105,470

  • 16 · Occupancy

    total $1,084,032 · program services $1,084,032

  • 19 · Conferences, conventions and meetings

    total $112,096 · management and general $112,096

  • 20 · Interest

    total $30,793 · program services $30,793

  • 22 · Depreciation, depletion and amortization

    total $1,418,155 · program services $1,418,155

  • 23 · Insurance

    total $47,450 · program services $47,450

  • 24a · Other expenses: Food and Beverage

    total $1,252,801 · program services $1,252,801

  • 24b · Other expenses: Rooms

    total $686,672 · program services $686,672

  • 24e · All other expenses

    total $131,104 · program services $131,104

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $819,173 · end of year $1,075,700

  • 4 · Accounts receivable

    beginning of year $279,734 · end of year $168,636

  • 8 · Inventories for sale or use

    beginning of year $37,298 · end of year $36,716

  • 9 · Prepaid expenses and deferred charges

    beginning of year $27,277 · end of year $36,546

  • 10a · Land, buildings and equipment: cost or other basis

    $47,600,325

  • 10b · Land, buildings and equipment: accumulated depreciation

    $9,316,869

  • 10c · Land, buildings and equipment, net

    beginning of year $39,658,275 · end of year $38,283,456

  • 15 · Other assets

    beginning of year $318,567 · end of year $330,126

  • 17 · Accounts payable and accrued expenses

    beginning of year $999,258 · end of year $827,611

  • 25 · Other liabilities

    beginning of year $37,520,369 · end of year $37,713,516

  • 27 · Net assets without donor restrictions

    beginning of year $2,620,697 · end of year $1,390,053

Mission and programs · 2022

Mission

Supporting organization of Oberlin College used for the holding of real estate for investment purposes and the tasteful development of the community.

  • College Properties of Northern Ohio is a supporting organization of Oberlin College used for the holding of real estate for investment purposes.

    Expenses $5,046,172 · Revenue $4,682,956

As filed on the 2022 return.

Listed in Part VII

  • Rebecca Vazquez-Skillings

    President/Trustee

    Total calculated
    $308,784
    From this org
    $0
    From related orgs
    $244,260
    Other
    $64,524
    Hours/week
    2 + 44 related

    Schedule J breakdown matched by us

    Base
    $0 + $243,846 related
    Bonus
    $0
    Other
    $0 + $414 related
    Deferred
    $0 + $22,598 related
    Nontaxable benefits
    $0 + $41,926 related
    Filer's total
    $0 + $308,784 related

  • Fred Cummings

    Trustee

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Stewart A Kohl

    Trustee

    Total calculated
    $0
    Hours/week
    2 + 4 related

  • Robert Lemle

    Trustee

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Julienne R Melvin

    Secretary

    Total calculated
    $220,797
    From this org
    $0
    From related orgs
    $183,268
    Other
    $37,529
    Hours/week
    2 + 44 related

    Schedule J breakdown matched by us

    Base
    $0 + $182,516 related
    Bonus
    $0
    Other
    $0 + $752 related
    Deferred
    $0 + $5,562 related
    Nontaxable benefits
    $0 + $31,967 related
    Filer's total
    $0 + $220,797 related

  • Kevin Brown

    Vice President

    Total calculated
    $219,160
    From this org
    $0
    From related orgs
    $198,512
    Other
    $20,648
    Hours/week
    2 + 44 related

    Schedule J breakdown matched by us

    Base
    $0 + $197,782 related
    Bonus
    $0
    Other
    $0 + $730 related
    Deferred
    $0 + $19,820 related
    Nontaxable benefits
    $0 + $827 related
    Filer's total
    $0 + $219,159 related

  • April M Herner

    Treasurer

    Total calculated
    $187,348
    From this org
    $0
    From related orgs
    $157,517
    Other
    $29,831
    Hours/week
    2 + 44 related

    Schedule J breakdown matched by us

    Base
    $0 + $157,325 related
    Bonus
    $0
    Other
    $0 + $192 related
    Deferred
    $0 + $14,586 related
    Nontaxable benefits
    $0 + $15,245 related
    Filer's total
    $0 + $187,348 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2022
Filed
10 May 2024
IRS schema version
2022v5.0
Source object
202411369349307421

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