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← PROVIDENT COMMONWEALTH EDUCATION RESOURCES II

Form 990 for tax year 2024

Filed by PROVIDENT COMMONWEALTH EDUCATION RESOURCES II.

Totals

Total revenue
$11,579,971
Total expenses
$14,180,544
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$10,904,884
Investment income
$675,087
Other revenue
$0
Total assets, end of year
$144,662,786
Total liabilities, end of year
$165,658,113
Net assets or fund balances, end of year
-$20,995,327
Program services expenses (Part IX)
$13,993,862
Management and general expenses
$186,682
Fundraising expenses
$0
Program service expenses (Part III)
$13,993,862

Program services were 98.7% 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: RENTAL REVENUE

    total $10,779,982 · related or exempt $10,779,982

  • 2b · Program service revenue: ANCILLARY REVENUE

    total $124,902 · related or exempt $124,902

  • 3 · Investment income

    total $675,087 · excluded $675,087

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $171,198 · program services $171,198

  • 8 · Pension plan contributions

    total $9,510 · program services $9,510

  • 9 · Other employee benefits

    total $102,950 · program services $102,950

  • 10 · Payroll taxes

    total $12,885 · program services $12,885

  • 11a · Fees: management

    total $559,745 · program services $373,063 · management and general $186,682

  • 11c · Fees: accounting

    total $24,742 · program services $24,742

  • 11g · Fees: other

    total $13,044 · program services $13,044

  • 12 · Advertising and promotion

    total $5,754 · program services $5,754

  • 13 · Office expenses

    total $59,652 · program services $59,652

  • 14 · Information technology

    total $34,140 · program services $34,140

  • 16 · Occupancy

    total $1,185,278 · program services $1,185,278

  • 17 · Travel

    total $4,027 · program services $4,027

  • 20 · Interest

    total $6,484,875 · program services $6,484,875

  • 22 · Depreciation, depletion and amortization

    total $3,848,836 · program services $3,848,836

  • 23 · Insurance

    total $408,221 · program services $408,221

  • 24a · Other expenses: MAINTENANCE AND REPAIRS

    total $706,947 · program services $706,947

  • 24b · Other expenses: BAD DEBT EXPENSE

    total $383,612 · program services $383,612

  • 24c · Other expenses: CLEANING AND TRASH

    total $108,423 · program services $108,423

  • 24d · Other expenses: ISSUER/TRUSTEE/LOC REMA

    total $49,542 · program services $49,542

  • 24e · All other expenses

    total $7,163 · program services $7,163

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,224,207 · end of year $1,307,112

  • 4 · Accounts receivable

    beginning of year $492,958 · end of year $1,896,657

  • 9 · Prepaid expenses and deferred charges

    beginning of year $111,817 · end of year $121,973

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

    $147,818,795

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

    $19,345,226

  • 10c · Land, buildings and equipment, net

    beginning of year $132,291,220 · end of year $128,473,569

  • 15 · Other assets

    beginning of year $12,622,432 · end of year $12,863,475

  • 17 · Accounts payable and accrued expenses

    beginning of year $17,823 · end of year $8,531

  • 20 · Tax-exempt bond liabilities

    beginning of year $133,294,107 · end of year $131,890,387

  • 25 · Other liabilities

    beginning of year $31,825,458 · end of year $33,759,195

  • 27 · Net assets without donor restrictions

    beginning of year -$18,394,754 · end of year -$20,995,327

Mission and programs · 2024

Mission

PROVIDENT COMMONWEALTH EDUCATION RESOURCES II, INC. PROMOTES AND ADVANCES EDUCATION THROUGH THE ACQUISITION, PLANNING, DEVELOPMENT, FINANCING, EQUIPPING, MANAGING, OPERATING, AND MAINTAINING OF ONE OR MORE DORMITORY FACILITIES, DINING FACILITIES, PARKING FACILITIES, AND OTHER ANCILLARY FACILITIES ON THE CAMPUS OF THE UNIVERSITY OF MASSACHUSETTS DARTMOUTH AND MEMBER INSTITUTIONS

Activities or mission (Part I)

PROVIDENT COMMONWEALTH EDUCATION RESOURCES II, INC. PROMOTES AND ADVANCES EDUCATION THROUGH THE ACQUISITION, PLANNING, DEVELOPMENT, FINANCING, EQUIPPING, MANAGING, OPERATING, AND MAINTAINING OF ONE OR MORE DORMITORY FACILITIES, DINING FACILITIES, PARKING FACILITIES, AND OTHER ANCILLARY FACILITIES ON THE CAMPUS OF THE UNIVERSITY OF MASSACHUSETTS DARTMOUTH AND MEMBER INSTITUTIONS.

  • PROVIDENT COMMONWEALTH EDUCATION RESOURCES II INC. PROMOTES AND ADVANCES EDUCATION THROUGH THE DEVELOPMENT, CONSTRUCTION, ACQUISITION, OWNERSHIP, MANAGEMENT, MAINTENANCE, OPERATION, AND DISPOSITION OF EDUCATION - RELATED FACILITIES AND THROUGH THE PROVISION OF VARIOUS RELATED PROGRAMS, ACTIVITIES AND SERVICES.

    Expenses $13,993,862 · Revenue $10,904,884

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Christopher Hicks

    VICE PRESIDENT & ASSISTANT TREASURER

    Total calculated
    $909,782
    From this org
    $0
    From related orgs
    $859,241
    Other
    $50,541
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $348,260 related
    Bonus
    $0 + $510,000 related
    Other
    $0 + $981 related
    Deferred
    $0 + $13,200 related
    Nontaxable benefits
    $0 + $37,341 related
    Filer's total
    $0 + $909,782 related

  • Walter Bumphus PhD

    CLERK & SECRETARY

    Total calculated
    $24,000
    From this org
    $0
    From related orgs
    $24,000
    Other
    $0
    Hours/week
    1 + 2 related

  • Nancy H Henze

    DIRECTOR

    Total calculated
    $24,000
    From this org
    $0
    From related orgs
    $24,000
    Other
    $0
    Hours/week
    1 + 2 related

  • Barbara Kroncke

    TREASURER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Christine Doyle

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Steve Hicks

    PRESIDENT

    Total calculated
    $1,111,471
    From this org
    $0
    From related orgs
    $1,082,919
    Other
    $28,552
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $547,440 related
    Bonus
    $0 + $470,021 related
    Other
    $0 + $65,458 related
    Deferred
    $0 + $13,200 related
    Nontaxable benefits
    $0 + $15,352 related
    Filer's total
    $0 + $1,111,471 related

  • Donovan O Hicks

    VICE PRESIDENT & ASSISTANT CLERK

    Total calculated
    $644,684
    From this org
    $0
    From related orgs
    $604,426
    Other
    $40,258
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $348,055 related
    Bonus
    $0 + $210,000 related
    Other
    $0 + $46,371 related
    Deferred
    $0 + $13,200 related
    Nontaxable benefits
    $0 + $27,058 related
    Filer's total
    $0 + $644,684 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

The filer's explanations (Part III)

SCHEDULE J, PART I, LINE 3 - PROCESS FOR DETERMINING COMPENSATION:
PROVIDENT COMMONWEALTH EDUCATION RESOURCES II, INC. DOES NOT PAY ANY EMPLOYEES DIRECTLY, THEREFORE, THIS LINE WAS LEFT BLANK IN ACCORDANCE WITH THE INSTRUCTIONS. THE OFFICERS OF THE ORGANIZATION ARE COMPENSATED SOLELY BY THE RELATED ORGANIZATION, PROVIDENT RESOURCES GROUP, INC.

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.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • PROVIDENT GROUP - CANTON COVE PROPERTIES LLC

    N/A · ASSISTED LIVING FACILITY · GA

  • PROVIDENT GROUP - CREEKSIDE PROPERTIES LLC

    N/A · ASSISTED LIVING FACILITY · GA

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • MUNICIPAL CORRECTIONS FINANCE HOLDING LLC

    C · MANAGEMENT · DE

  • PDG HOLDINGS LLC

    C · SENIOR LIVING · DE

Provenance

Return type
form_990
Tax year
2024
Filed
17 November 2025
IRS schema version
2024v5.2
Source object
202523219349314762

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