Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: RENTAL REVENUE

  total $644,463 · related or exempt $644,463

• 3 · Investment income

  total $61 · excluded $61

• 11a · Other revenue: MISCELLANEOUS INCOME

  total $1,000 · related or exempt $1,000

• 11e · Other revenue, total

  $1,000

Functional expenses

Part IX, the statement of functional expenses.

• 11a · Fees: management

  total $61,300 · management and general $61,300

• 11b · Fees: legal

  total $15,155 · program services $15,155

• 11c · Fees: accounting

  total $1,100 · program services $1,100

• 11g · Fees: other

  total $360,336 · program services $360,336

• 13 · Office expenses

  total $14,706 · program services $14,706

• 16 · Occupancy

  total $190,030 · program services $190,030

• 17 · Travel

  total $95 · program services $95

• 22 · Depreciation, depletion and amortization

  total $131,102 · program services $131,102

• 23 · Insurance

  total $36,606 · program services $36,606

• 24a · Other expenses: SHARED SERVICES

  total $98,500 · program services $98,500

• 24b · Other expenses: MISCELLANEOUS

  total $11,445 · program services $11,445

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $145,588 · end of year $164,365

• 4 · Accounts receivable

  beginning of year $18,319 · end of year $39,389

• 9 · Prepaid expenses and deferred charges

  beginning of year $31,047 · end of year $935

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

  $3,512,735

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

  $2,016,231

• 10c · Land, buildings and equipment, net

  beginning of year $1,597,584 · end of year $1,496,504

• 15 · Other assets

  beginning of year $139,456 · end of year $679,991

• 17 · Accounts payable and accrued expenses

  beginning of year $31,941 · end of year $15,667

• 23 · Secured mortgages and notes payable

  beginning of year $2,820,000 · end of year $2,820,000

• 25 · Other liabilities

  beginning of year $331,322 · end of year $1,071,637

• 27 · Net assets without donor restrictions

  beginning of year -$1,258,111 · end of year -$1,532,962

• 28 · Net assets with donor restrictions

  beginning of year $6,842 · end of year $6,842

The filer's explanations (Part III)

PART I, LINE 3:

AT THE DECEMBER MEETING EACH YEAR FOR CARITAS COMMUNITIES INC., THE FULL BOARD OF DIRECTORS OF CARITAS COMMUNITIES INC. MEETS WITH THE AUDIT AND FINANCE COMMITTEE TO CONSIDER THE PLANNED COMPENSATION OF THE EXECUTIVE DIRECTOR AND THE TREASURER/COO WITH ALL INDIVIDUALS ABSENT FROM THE MEETING. PRIOR THERETO THE CHAIRMAN OF THE FINANCE AND AUDIT COMMITTEE DISCUSSES SALARY INFORMATION OBTAINED FROM OUR INDEPENDENT AUDITING FIRM REGARDING SALARIES PAID TO EXECUTIVE DIRECTORS AND TREASURERS IN COMPARABLE ORGANIZATIONS. THE AUDIT AND FINANCE COMMITTEE THEN MAKES A RECOMMENDATION TO THE FULL BOARD WHO DISCUSSES AND VOTES ON THE COMPENSATION OF THESE TWO INDIVIDUALS FOR THE COMING YEAR.