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Nonprofiteer
← NEW SUNRISE PROPERTIES INC

Form 990 for tax year 2024

Filed by NEW SUNRISE PROPERTIES INC.

Totals

Total revenue
$1,400,857
Total expenses
$1,176,049
Contributions and grants received
$811,788
Grants paid
$0
Program service revenue
$462,013
Investment income
$127,056
Other revenue
$0
Total assets, end of year
$5,261,946
Total liabilities, end of year
$1,860,099
Net assets or fund balances, end of year
$3,401,847
Program services expenses (Part IX)
$1,176,049
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$1,176,049

Program services were 100.0% 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.

  • 1f · All other contributions, gifts and grants

    $811,788

  • 2a · Program service revenue: MANAGEMENT FEES - AFFI

    total $318,151 · related or exempt $318,151

  • 2b · Program service revenue: RENTAL INCOME

    total $273,825 · related or exempt $273,825

  • 2c · Program service revenue: MISCELLANEOUS REVENUE

    total $46,009 · related or exempt $46,009

  • 2d · Program service revenue: INCOME FROM PARTNERSHI

    total -$175,972 · related or exempt -$175,972

  • 7a · Gross sales of assets other than inventory

    other assets $850,000

  • 7b · Less cost or other basis and sales expenses

    other assets $722,944

  • 7c · Gain or loss

    other assets $127,056

  • 7d · Net gain or loss

    total $127,056 · related or exempt $127,056

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $504,596 · program services $504,596

  • 9 · Other employee benefits

    total $73,558 · program services $73,558

  • 10 · Payroll taxes

    total $41,646 · program services $41,646

  • 11b · Fees: legal

    total $10,057 · program services $10,057

  • 11c · Fees: accounting

    total $14,405 · program services $14,405

  • 11g · Fees: other

    total $24,382 · program services $24,382

  • 13 · Office expenses

    total $55,321 · program services $55,321

  • 14 · Information technology

    total $1,040 · program services $1,040

  • 16 · Occupancy

    total $302,948 · program services $302,948

  • 17 · Travel

    total $22,989 · program services $22,989

  • 19 · Conferences, conventions and meetings

    total $6,463 · program services $6,463

  • 20 · Interest

    total $1,816 · program services $1,816

  • 22 · Depreciation, depletion and amortization

    total $66,343 · program services $66,343

  • 23 · Insurance

    total $37,824 · program services $37,824

  • 24a · Other expenses: DUES AND SUBSCRIPTIONS

    total $12,661 · program services $12,661

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $549,994 · end of year $700,415

  • 4 · Accounts receivable

    beginning of year $515,873 · end of year $548,585

  • 7 · Other notes and loans receivable

    beginning of year $1,262,424 · end of year $2,009,758

  • 8 · Inventories for sale or use

    beginning of year $5,530 · end of year $21,723

  • 9 · Prepaid expenses and deferred charges

    beginning of year $13,181 · end of year $0

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

    $2,252,963

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

    $121,498

  • 10c · Land, buildings and equipment, net

    beginning of year $1,782,004 · end of year $2,131,465

  • 13 · Investments: program-related

    beginning of year $25,972 · end of year -$150,000

  • 17 · Accounts payable and accrued expenses

    beginning of year $349,689 · end of year $341,606

  • 19 · Deferred revenue

    beginning of year $925 · end of year $4,223

  • 24 · Unsecured notes and loans payable

    beginning of year $1,740,982 · end of year $1,514,270

  • 27 · Net assets without donor restrictions

    beginning of year $2,063,382 · end of year $3,401,847

Mission and programs · 2024

Mission

THE MISSION OF NEW SUNRISE PROPERTIES, INC. IS TO INCREASE THE HOUSING AVAILABLE TO CITIZENS OF LORAIN COUNTY WHO ARE MENTALLY ILL, HOMELESS, LOW-INCOME, OR OTHERWISE NEEDY BY PROVIDING THEM WITH THE OPPORTUNITY TO OBTAIN SAFE, DECENT, AFFORDABLE AND PERMANENT HOUSING. THE AGENCY OWNS AND MANAGES OVER 200 UNITS OF HOUSING THROUGHOUT LORAIN COUNTY. THE HOUSING TYPES INCLUDE SCATTERED DUPLEXES, APARTMENTS, CONDOMINIUMS, AND SINGLE FAMILY HOMES.

  • TO INCREASE THE HOUSING AVAILABILITY TO CITIZENS OF LORAIN COUNTY WHO ARE MENTALLY ILL, HOMELESS, LOW-INCOME OR OTHERWISE NEEDY BY PROVIDING THEM WITH THE OPPORTUNITY TO OBTAIN SAFE, DECENT, AFFORDABLE AND PERMANENT HOUSING.

    Expenses $1,176,049 · Revenue $589,069

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

Listed in Part VII

  • Chris Warren

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1 + 4 related

  • Carolynn Galloway

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1 + 4 related

  • Jim Poznik

    TREASURER/SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 4 related

  • Mike Griffin

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 4 related

  • Dan Last

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 4 related

  • Krume Stojanovski

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 4 related

  • Peter Meisel

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 4 related

  • Kathy Hexter

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 4 related

  • Caroline Peak

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 4 related

  • Terrell Sanders

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 4 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.

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.

  • THRESHOLD HOMES LIMITED PARTNERSHIP

    RELATED · REAL ESTATE · OH · 99% owned · share of income $148,323 · share of assets -$524,282 · general or managing partner

    Directly controlled by NEW SUNRISE PROPERTIES INC

  • SOUTHERN HEIGHTS LIMITED PARTNERSHIP

    RELATED · REAL ESTATE · OH · 99% owned · share of income -$191,520 · share of assets -$1,052,576 · general or managing partner

    Directly controlled by NEW SUNRISE PROPERTIES INC

  • NEW RIVERBEND HOMES LLC

    RELATED · REAL ESTATE · OH · 99% owned · share of income -$132,775 · share of assets $2,772,530 · general or managing partner

    Directly controlled by NEW SUNRISE PROPERTIES INC

  • SUNRISE HOMES LP

    RELATED · REAL ESTATE · OH · 99% owned · share of assets $100 · general or managing partner

    Directly controlled by NEW SUNRISE PROPERTIES INC

  • SUNRISE NEIGHBORHOOD LIVING LP

    RELATED · REAL ESTATE · OH · 99% owned · general or managing partner

    Directly controlled by NEW SUNRISE PROPERTIES INC

Related corporations and trusts

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

  • SOUTHERN HEIGHTS INC

    C · REAL ESTATE · OH · 1% owned · share of income -$19 · share of assets -$875 · controlled entity

    Directly controlled by NEW SUNRISE PROPERTIES INC

  • THRESHOLD HOMES INC

    C · REAL ESTATE · OH · 1% owned · share of income $1,483 · share of assets -$5,243 · controlled entity

    Directly controlled by NEW SUNRISE PROPERTIES INC

  • NEW RIVERBEND HOMES CORP

    C · REAL ESTATE · OH · 1% owned · share of income -$13 · share of assets -$503,432 · controlled entity

    Directly controlled by NEW SUNRISE PROPERTIES INC

  • SUNRISE HOMES INC

    C · REAL ESTATE · OH · 100% owned · share of assets $100 · controlled entity

    Directly controlled by NEW SUNRISE PROPERTIES INC

Provenance

Return type
form_990
Tax year
2024
Filed
17 November 2025
IRS schema version
2024v5.2
Source object
202523219349307142

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