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Nonprofiteer
← Health Equity Partners Properties Inc

Form 990 for tax year 2025

Filed by Health Equity Partners Properties Inc.

Totals

Total revenue
$27,791,667
Total expenses
$1,327,206
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$0
Other revenue
$27,791,667
Total assets, end of year
$0
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$0
Program services expenses (Part IX)
$513,585
Management and general expenses
$813,621
Fundraising expenses
$0
Program service expenses (Part III)
$513,585

Program services were 38.7% 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.

  • 1a · Federated campaigns

    $0

  • 1b · Membership dues

    $0

  • 1c · Fundraising events

    $0

  • 1d · Related organizations

    $0

  • 1e · Government grants (contributions)

    $0

  • 1f · All other contributions, gifts and grants

    $0

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 8c · Net income from fundraising events

    total $0

  • 11a · Other revenue: Shared Usage

    total $21,667 · related or exempt $21,667

  • 11b · Other revenue: Assignment of Debt

    total $27,770,000 · excluded $27,770,000

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $27,791,667

Functional expenses

Part IX, the statement of functional expenses.

  • 3 · Grants to foreign organizations and individuals

    total $0 · program services $0

  • 11g · Fees: other

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 20 · Interest

    total $744,275 · program services $24,889 · management and general $719,386

  • 21 · Payments to affiliates

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $488,696 · program services $488,696

  • 24a · Other expenses: Loan servicing fees

    total $94,235 · management and general $94,235

  • 24e · All other expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $634,277

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

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

    $0

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $26,811,173 · end of year $0

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,343

  • 19 · Deferred revenue

    beginning of year $588,611

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $27,050,614 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $0 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year -$195,118 · end of year $0

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $0

Mission and programs · 2025

Mission

See Schedule O.

Activities or mission (Part I)

See Schedule O

  • Collaborative partners have been selected to build a broad continuum of health at a single location. These include the YMCA (mental, physical, and spiritual health), Norton Health Care (pediatric and family medicine clinic), ProRehab (physical therapy), Family and Children's Place (behavioral health), Republic Bank (fiscal literacy, asset building and protection), and Gilda's Club (support community for those affected by cancer). These services will be built around combining strong and trusted brands, seamless integration of services, ease of access, strong relationships with constituents and providers, and delivery by servant leaders. Internally, partners will agree to collaborate in such a way that multiple needs can be met driven by building relationships and trust, and cross referencing services in a familiar, welcoming way. Barriers will be reduced and impact can be increased. This is a bold and unique project incorporating a wide array of services delivered in a highly coordinated manner.

    Expenses $513,585 · Revenue $21,667

As filed on the 2025 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Gary Cobbs

    President

    Total calculated
    $448,987
    From this org
    $0
    From related orgs
    $398,590
    Other
    $50,397
    Hours/week
    10 + 45 related

    Schedule J breakdown matched by us

    Base
    $0 + $356,306 related
    Bonus
    $0 + $29,284 related
    Other
    $0 + $13,000 related
    Deferred
    $0 + $42,000 related
    Nontaxable benefits
    $0 + $8,397 related
    Filer's total
    $0 + $448,987 related

  • Joshua Zimmerman

    VP of Finance/CFO

    Total calculated
    $173,500
    From this org
    $0
    From related orgs
    $136,679
    Other
    $36,821
    Hours/week
    10 + 45 related

    Schedule J breakdown matched by us

    Base
    $0 + $132,179 related
    Bonus
    $0 + $4,500 related
    Other
    $0
    Deferred
    $0 + $17,305 related
    Nontaxable benefits
    $0 + $19,516 related
    Filer's total
    $0 + $173,500 related

  • Audrey S Roling

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Courtney Giesel

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Robert W Rounsavall III

    Board Member

    Total calculated
    $0
    Hours/week
    1

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

The filer's explanations (Part III)

Schedule J, Part I, Line 3 Arrangement used to establish the top management official's compensation
THE EXECUTIVE COMMITTEE (EC) OF THE ASSOCIATION BOARD of the YMCA SERVES AS THE REVIEW AND COMPENSATION COMMITTEE, which establishes the compensation of the officers. THERE IS NO INDEPENDENT COMPENSATION CONSULTANT OTHER THAN WHAT THE YMCA NORTH AMERICAN NETWORK (YNAN) USES AND OUR EC DOES NOT USE THAT RESOURCE AT ANY SIGNIFICANT LEVEL HERE. THE EC IS PROVIDED WITH COMPARATIVE DATA FROM THE YNAN INCLUDING THEIR INDEPENDENT CONSULTANT REVIEW AND THE SOUTH METRO GROUP AND ANY LOCAL COMPARATIVE STUDIES PURCHASED THROUGH LOCAL MEANS. THE COMMITTEE THEN FILTERS THROUGH THEIR OWN EXPERIENCES FOR LOCAL BENCHMARKING. THERE IS NO WRITTEN EMPLOYMENT CONTRACT, THE CEO/President SERVES "AT-WILL". MODIFICATIONS TO COMPENSATION TO CEO/President ARE ACCOMPANIED BY DOCUMENTATION FROM BOARD CHAIR AND PASSED TO PERSONNEL FILES. THE EC ALSO REVIEWS SALARIES AND MAKES RECOMMENDED MERITS FOR SR. MGMT TEAM. THE EC MAKES THE FINAL REVIEW AND COMPENSATION DECISIONS IN "EXECUTIVE SESSION" ABSENT OF ANY STAFF. THE BOARD CHAIR REVIEWS THE RESULTS OF THE EVALUATION WITH THE CEO/President.

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.

Assets distributed on this return

Schedule N, as filed: what the organization did with its assets when it liquidated or dissolved, or disposed of more than a quarter of them, and who received them. A recipient with an EIN is usually a successor organization; filers also list expenses such as legal fees here.

4 distributions to recipients named as people, $27,403,231 in total. Counted where the filer named the recipient as a person, as filed. Who received them, and what, are not published.

Provenance

Return type
form_990
Tax year
2025
Filed
11 June 2026
IRS schema version
2025v4.1
Source object
202621629349300212

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