Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: MANAGEMENT FEES

  total $7,139,492 · related or exempt $7,139,492

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $1,298,572 · management and general $1,298,572

• 7 · Other salaries and wages

  total $2,294,202 · program services $1,398,916 · management and general $895,286

• 8 · Pension plan contributions

  total $67,454 · program services $44,127 · management and general $23,327

• 9 · Other employee benefits

  total $229,426 · program services $119,170 · management and general $110,256

• 10 · Payroll taxes

  total $331,333 · program services $106,116 · management and general $225,217

• 11b · Fees: legal

  total $8,250 · management and general $8,250

• 11c · Fees: accounting

  total $28,039 · management and general $28,039

• 11d · Fees: lobbying

  total $9,534 · management and general $9,534

• 11g · Fees: other

  total $459,429 · program services $134,953 · management and general $324,476

• 12 · Advertising and promotion

  total $990,665 · management and general $990,665

• 13 · Office expenses

  total $207,105 · program services $37,003 · management and general $170,102

• 16 · Occupancy

  total $187,792 · management and general $187,792

• 17 · Travel

  total $13,269 · program services $2,722 · management and general $10,547

• 22 · Depreciation, depletion and amortization

  total $18,943 · program services $15,154 · management and general $3,789

• 23 · Insurance

  total $5,131 · management and general $5,131

• 24a · Other expenses: INCENTIVE PLANS

  total $968,222 · management and general $968,222

• 24b · Other expenses: INTEREST INC. REVERSAL

  total $11,700 · management and general $11,700

• 24c · Other expenses: BOOKS/DUES/SUB.

  total $10,426 · management and general $10,426

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $167,033 · end of year $427,934

• 9 · Prepaid expenses and deferred charges

  beginning of year $260,893 · end of year $256,633

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

  $605,695

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

  $552,170

• 10c · Land, buildings and equipment, net

  beginning of year $45,054 · end of year $53,525

• 12 · Investments: other securities

  beginning of year $481,054 · end of year $525,603

• 15 · Other assets

  beginning of year $15,923,660 · end of year $19,849,235

• 17 · Accounts payable and accrued expenses

  beginning of year $2,332,552 · end of year $2,794,591

• 25 · Other liabilities

  beginning of year $21,186,947 · end of year $24,960,144

• 27 · Net assets without donor restrictions

  beginning of year -$6,641,805 · end of year -$6,641,805

The filer's explanations (Part III)

PART I, LINE 7

THE ORGANIZATION PROVIDES BONUSES TO KEY EXECUTIVES ON A DISCRETIONARY BASIS. THE BOARD OF DIRECTORS ESTABLISHES AND APPROVES A BONUS POOL WHICH REPRESENTS THE MOST THE EMPLOYEES MAY RECEIVE BASED UPON A PERCENTAGE OF THEIR BASE PAY AND SETS THE AWARD FOR THE PRESIDENT/CEO. THE PRESIDENT IS THEN TASKED WITH CONFERRING BONUSES ON OTHER ELIGIBLE EMPLOYEES BASED UPON THE MAXIMUM PERCENTAGE THAT HAS ALREADY BEEN DETERMINED BY THE BOARD.