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Nonprofiteer
← PARK BIXBY TOWERS INC

Form 990 for tax year 2024

Filed by PARK BIXBY TOWERS INC.

Totals

Total revenue
$4,032,829
Total expenses
$3,921,309
Contributions and grants received
$2,830,582
Grants paid
$224,753
Program service revenue
$1,041,522
Investment income
$82,799
Other revenue
$77,926
Total assets, end of year
$6,472,606
Total liabilities, end of year
$6,206,813
Net assets or fund balances, end of year
$265,793
Program services expenses (Part IX)
$2,856,142
Management and general expenses
$1,065,167
Fundraising expenses
$0
Program service expenses (Part III)
$2,856,142

Program services were 72.8% 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.

  • 1d · Related organizations

    $100,000

  • 1e · Government grants (contributions)

    $2,730,582

  • 2a · Program service revenue: NET RENTAL REVENUE

    total $1,041,522 · related or exempt $1,041,522

  • 3 · Investment income

    total $82,799 · excluded $82,799

  • 11a · Other revenue: INSURANCE PROCEEDS

    total $59,815 · related or exempt $59,815

  • 11b · Other revenue: LAUNDRY AND VENDING

    total $8,659 · related or exempt $8,659

  • 11d · All other revenue

    total $9,452 · related or exempt $9,452

  • 11e · Other revenue, total

    $77,926

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $224,753 · program services $224,753

  • 5 · Compensation of officers, directors and key employees

    total $766,824 · management and general $766,824

  • 7 · Other salaries and wages

    total $4,324 · management and general $4,324

  • 10 · Payroll taxes

    total $40,872 · management and general $40,872

  • 11a · Fees: management

    total $222,959 · program services $45,083 · management and general $177,876

  • 11b · Fees: legal

    total $26,419 · program services $5,920 · management and general $20,499

  • 11c · Fees: accounting

    total $54,772 · management and general $54,772

  • 11g · Fees: other

    total $333,477 · program services $333,477

  • 12 · Advertising and promotion

    total $5,980 · program services $5,980

  • 13 · Office expenses

    total $371,488 · program services $371,488

  • 16 · Occupancy

    total $1,682,799 · program services $1,682,799

  • 22 · Depreciation, depletion and amortization

    total $125,800 · program services $125,800

  • 24a · Other expenses: BAD DEBTS

    total $53,006 · program services $53,006

  • 24b · Other expenses: TAXES/LICENSES/PERMITS

    total $7,836 · program services $7,836

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,636,558 · end of year $243,880

  • 2 · Savings and temporary cash investments

    beginning of year $1,009,968 · end of year $1,831,720

  • 4 · Accounts receivable

    beginning of year $522,958 · end of year $557,237

  • 9 · Prepaid expenses and deferred charges

    beginning of year $417,266 · end of year $451,598

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

    $7,953,216

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

    $4,947,165

  • 10c · Land, buildings and equipment, net

    beginning of year $1,715,361 · end of year $3,006,051

  • 15 · Other assets

    beginning of year $1,098,625 · end of year $382,120

  • 17 · Accounts payable and accrued expenses

    beginning of year $232,191 · end of year $330,974

  • 19 · Deferred revenue

    beginning of year $31,503 · end of year $42,383

  • 21 · Escrow or custodial account liability

    beginning of year $81,910 · end of year $86,662

  • 23 · Secured mortgages and notes payable

    beginning of year $5,901,709 · end of year $5,746,794

  • 27 · Net assets without donor restrictions

    beginning of year $153,423 · end of year $265,793

Mission and programs · 2024

Mission

THE ORGANIZATION'S MISSION IS TO CONDUCT THOSE ACTIVITIES THAT BENEFIT THE ELDERLY, WHICH INCLUDE PROVIDING HOUSING AND OTHER SERVICES DESIGNED TO MEET THEIR PHYSICAL, SOCIAL AND PSYCHOLOGICAL NEEDS.

Activities or mission (Part I)

PROVIDE HOUSING FOR LOW-INCOME, ELDERLY FAMILIES & CONDUCT OTHER ACTIVITIES FOR THEIR BENEFIT

  • THE PRIMARY EFFORT IS TO ENRICH THE LIVES OF LOW-INCOME SENIORS RESIDING IN COMPANY PROPERTIES. THESE EFFORTS INCLUDE EXERCISE AND WELLNESS PROGRAMS, MONTHLY TOURS, SOCIAL EVENTS AND EDUCATION PROGRAMS AND PARTICIPATION IN CULTURAL EVENTS.

    Expenses $2,631,389 · Revenue $1,119,448

  • THE SECONDARY EFFORT IS TO PROVIDE FINANCIAL CONTRIBUTIONS/GRANTS TO ORGANIZATIONS OFFERING SERVICES TO LOW-INCOME SENIORS. WELLNESS PROGRAMS, MONTHLY TOURS, SOCIAL EVENTS AND EDUCATION PROGRAMS AND PARTICIPATION IN CULTURAL EVENTS.

    Expenses $224,753 · Grants $224,753

As filed on the 2024 return.

Listed in Part VII

  • Lois Richey

    DIRECTOR

    Total calculated
    $3,750
    From this org
    $3,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    1 + 1 related
  • Lora Kermode Wylie

    DIRECTOR

    Total calculated
    $3,750
    From this org
    $3,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    1 + 1 related
  • Mark Dunn

    DIRECTOR

    Total calculated
    $19,350
    From this org
    $19,350
    From related orgs
    $0
    Other
    $0
    Hours/week
    1 + 1 related
  • Matthew Wylie

    DIRECTOR

    Total calculated
    $3,750
    From this org
    $3,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    1 + 1 related
  • Michael Willcoxon

    SECRETARY/DIRECTOR

    Total calculated
    $19,350
    From this org
    $19,350
    From related orgs
    $0
    Other
    $0
    Hours/week
    1 + 1 related
  • Michael Wylie

    EXECUTIVE VP

    Total calculated
    $311,865
    From this org
    $238,267
    From related orgs
    $0
    Other
    $73,598
    Hours/week
    35 + 5 related

    Schedule J breakdown matched by us

    Base
    $238,267
    Bonus
    $0
    Other
    $0
    Deferred
    $41,528
    Nontaxable benefits
    $32,070
    Filer's total
    $311,865
  • Nancy Hathcock

    RESIDENT PROGRAM DIR./DIRECTOR

    Total calculated
    $80,750
    From this org
    $80,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    40 + 1 related
  • Russel Wylie

    PRESIDENT & CEO

    Total calculated
    $331,377
    From this org
    $269,844
    From related orgs
    $0
    Other
    $61,533
    Hours/week
    39 + 1 related

    Schedule J breakdown matched by us

    Base
    $257,988
    Bonus
    $0
    Other
    $11,856
    Deferred
    $46,716
    Nontaxable benefits
    $14,817
    Filer's total
    $331,377
  • Thaddeus Wojcik

    DIRECTOR

    Total calculated
    $3,750
    From this org
    $3,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    1 + 1 related
  • William Haley

    TREASURER/DIRECTOR

    Total calculated
    $3,750
    From this org
    $3,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    5 + 1 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

  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 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

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

  • GENERAL SUPPORT

  • FINANCED CONSTRUCTION OF RAMP SYSTEM TO ENABLE SENIORS AND DISABLED TO TOUR HISTORIC LONG BEACH HOME.

  • SUPPORT ITS MISSION OF PROVIDING ESSENTIAL SERVICES LIKE FOOD, CLOTHING, AND HOUSING ASSISTANCE TO THE HOMELESS AND IMPOVERISHED IN THE LONG BEACH AREA

  • PROVIDE FINANCIAL SUPPORT SO ELDERLY RESIDENTS ARE ABLE TO ATTEND THEATRICAL PERFORMANCES FOR THEIR HAPPINESS AND WELL BEING

  • SUPPORT THIS NON-PROFIT COMMITTED TO PRESERVATION OF THE HISTORIC WILMORE COMMUNITY WITHIN LONG BEACH; THE ORGANIZATION CONTRIBUTES TO THE HEALTH, SECURITY, AND HAPPINESS OF THE MANY SENIORS RESIDENT WITHIN THE COMMUNITY AND STRENGTHENS THE QUALITY OF A NEIGHBORHOOD WITHIN PROXIMITY TO OUR COMPANY'S MAIN REAL ESTATE HOLDINGS

  • SUPPORT SERVICES FOR THE HOMELESS, INCLUDING HIRING HOMELESS PEOPLE TO CLEAN AND MAINTAIN PUBLIC SPACES IN LONG BEACH.

  • HOUSING ASSISTANCE

  • SUPPORT SENIOR MUSIC ORGANIZATIONS PROVIDING RECREATION AND ENTERTAINMENT FOR THE ELDERLY

  • GENERAL SUPPORT

  • SUPPORT SENIOR MUSIC ORGANIZATIONS PROVIDING RECREATION AND ENTERTAINMENT FOR THE ELDERLY

The 10 largest by cash amount. The API serves every itemized grant.

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.

  • FAMCO

    501(C)(3) · RELIGIOUS · CA · controlled entity

    Directly controlled by PARK BIXBY

Provenance

Return type
form_990
Tax year
2024
Filed
11 February 2026
IRS schema version
2024v5.5
Source object
202640449349300429

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