Skip to content
Nonprofiteer
← MIDWEST COMMUNITY REAL ESTATE CORPORATION

Form 990 for tax year 2022

Filed by MIDWEST COMMUNITY REAL ESTATE CORPORATION.

Totals

Total revenue
$2,178,632
Total expenses
$2,337,785
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$2,066,344
Investment income
$0
Other revenue
$112,288
Total assets, end of year
$35,061,542
Total liabilities, end of year
$46,412,426
Net assets or fund balances, end of year
-$11,350,884
Program services expenses (Part IX)
$2,307,310
Management and general expenses
$30,475
Fundraising expenses
$0
Program service expenses (Part III)
$2,307,310

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: AFFILIATE RENTAL REVENUE

    total $2,066,344 · related or exempt $2,066,344

  • 2f · All other program service revenue

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

  • 6a · Gross rents

    real property $512,778

  • 6b · Less rental expenses

    real property $400,490

  • 6c · Rental income or loss

    real property $112,288 · personal property $0

  • 6d · Net rental income or loss

    total $112,288 · unrelated business $112,288

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 11d · All other revenue

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

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $0 · program services $0

  • 11a · Fees: management

    total $31,817 · program services $31,817 · management and general $0 · fundraising $0

  • 11g · Fees: other

    total $724,487 · program services $694,566 · management and general $29,921 · fundraising $0

  • 13 · Office expenses

    total $51,197 · program services $51,197

  • 16 · Occupancy

    total $429,077 · program services $428,523 · management and general $554

  • 22 · Depreciation, depletion and amortization

    total $1,084,513 · program services $1,084,513

  • 24a · Other expenses: MISCELLANEOUS

    total $16,694 · program services $16,694

  • 24e · All other expenses

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

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $359,198 · end of year $152,288

  • 4 · Accounts receivable

    beginning of year $4,617 · end of year $78,142

  • 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

  • 9 · Prepaid expenses and deferred charges

    beginning of year $4,790 · end of year $4,790

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

    $46,414,947

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

    $19,197,034

  • 10c · Land, buildings and equipment, net

    beginning of year $28,258,399 · end of year $27,217,913

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $5,900,557 · end of year $7,608,409

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,009,196 · end of year $1,304,185

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $43,710,096 · end of year $45,108,241

  • 27 · Net assets without donor restrictions

    beginning of year -$11,191,731 · end of year -$11,350,884

Mission and programs · 2022

Mission

REAL ESTATE MANAGEMENT - MIDWEST COMMUNITY REAL ESTATE CORPORATION OWNS, MANAGES AND MAINTAINS REAL ESTATE FOR AFFILIATED CHARITABLE ORGANIZATIONS.

  • MANAGEMENT AND MAINTENANCE OF OFFICE BUILDINGS HOUSING PHYSICIAN OFFICES AND MEDICAL CLINICS IN SUPPORT OF AFFILIATED ORGANIZATIONS IN FURTHERANCE OF THE ORGANIZATION'S CHARITABLE PURPOSES.

    Expenses $2,307,310 · Revenue $2,066,344

As filed on the 2022 return.

Listed in Part VII

  • Kay Novak

    PRESIDENT

    Total calculated
    $330,320
    From this org
    $0
    From related orgs
    $279,502
    Other
    $50,818
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $241,899 related
    Bonus
    $0 + $37,603 related
    Other
    $0
    Deferred
    $0 + $17,351 related
    Nontaxable benefits
    $0 + $33,467 related
    Filer's total
    $0 + $330,320 related

  • Ruth Colby

    TREASURER

    Total calculated
    $1,603,310
    From this org
    $0
    From related orgs
    $1,536,825
    Other
    $66,485
    Hours/week
    1 + 43 related

    Schedule J breakdown matched by us

    Base
    $0 + $816,165 related
    Bonus
    $0 + $509,440 related
    Other
    $0 + $211,220 related
    Deferred
    $0 + $18,300 related
    Nontaxable benefits
    $0 + $48,185 related
    Filer's total
    $0 + $1,603,310 related

  • Vincent Pryor

    SECRETARY

    Total calculated
    $2,090,997
    From this org
    $0
    From related orgs
    $2,031,024
    Other
    $59,973
    Hours/week
    1 + 41 related

    Schedule J breakdown matched by us

    Base
    $0 + $578,294 related
    Bonus
    $0 + $326,974 related
    Other
    $0 + $1,125,756 related
    Deferred
    $0 + $18,300 related
    Nontaxable benefits
    $0 + $41,673 related
    Filer's total
    $0 + $2,090,997 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

  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 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 4b Supplemental nonqualified retirement plan
The Supplemental Executive Retirement Program (SERP) is a non-qualified compensation program to provide additional, market-competitive retirement benefits to certain management employees of Silver Cross Health System. For the reporting year the following person participated in the SERP and received the following employer-funded amounts: Ruth Colby - $195,075, Vince Pryor-$1,125,756.

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.

  • UCMCSCH Oncology JV LLC

    N/A · Cancer Diagnosis and Treatment · IL

    Directly controlled by NA

  • Prime Medical Imaging

    N/A · Outpatient Radiological Services · IL

    Directly controlled by NA

  • Essential Health Partners LLC

    N/A · Healthcare Provider Network · IL

    Directly controlled by NA

  • SILVER CROSS MSO LLC

    N/A · MANAGED CARE · IL

    Directly controlled by NA

Related corporations and trusts

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

  • HEALTH SERVICES SYSTEMS INC

    C Corporation · PHYSICIAN SERVICE · IL · 0% owned · share of income $0 · share of assets $0 · controlled entity

    Directly controlled by SCHS

Provenance

Return type
form_990
Tax year
2022
Filed
14 August 2024
IRS schema version
2022v5.0
Source object
202422279349303302

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.