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Nonprofiteer
← GREAT OAKS NEWARK PROPERTY CORPORATION

Form 990 for tax year 2022

Filed by GREAT OAKS NEWARK PROPERTY CORPORATION.

What the amendment changed

Compared with the return it replaced , filed 12 May 2023. matched by us Only the return's totals, a 990-PF's accounting method and the names listed in Part VII (Part VIII on a 990-PF) are compared. We relate returns by organization, tax year and form, and order them by each return's own timestamp; the filer's own "amended return" checkbox is a separate fact.

Total revenue
$591,775 changed to $387,231
Total expenses
$792,159 changed to $496,260
Grants paid
$109,103 changed to $226,207
Program service revenue
$591,056 changed to $104,738
Investment income
$0 changed to -$2,421,087
Other revenue
$719 changed to $2,703,580
Total assets, end of year
$8,947,522 changed to $0
Total liabilities, end of year
$8,838,493 changed to $0
Net assets or fund balances, end of year
$109,029 changed to $0
Program services expenses
$792,159 changed to $496,260
Program service expenses (Part III)
$792,159 changed to $496,260

Totals

Total revenue
$387,231
Total expenses
$496,260
Contributions and grants received
$0
Grants paid
$226,207
Program service revenue
$104,738
Investment income
-$2,421,087
Other revenue
$2,703,580
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)
$496,260
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$496,260

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.

  • 2a · Program service revenue: RENTAL INCOME

    total $104,738 · related or exempt $104,738

  • 7a · Gross sales of assets other than inventory

    other assets $5,284,574

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

    other assets $7,705,661

  • 7c · Gain or loss

    other assets -$2,421,087

  • 7d · Net gain or loss

    total -$2,421,087 · related or exempt -$2,421,087

  • 11a · Other revenue: LOAN FORGIVENESS INCOME

    total $2,703,157 · related or exempt $2,703,157

  • 11b · Other revenue: INTEREST REVENUE

    total $423 · related or exempt $423

  • 11e · Other revenue, total

    $2,703,580

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $226,207 · program services $226,207

  • 11a · Fees: management

    total $4,190 · program services $4,190

  • 11b · Fees: legal

    total $13,074 · program services $13,074

  • 11c · Fees: accounting

    total $13,701 · program services $13,701

  • 11g · Fees: other

    total $420 · program services $420

  • 20 · Interest

    total $68,262 · program services $68,262

  • 22 · Depreciation, depletion and amortization

    total $167,686 · program services $167,686

  • 23 · Insurance

    total $2,621 · program services $2,621

  • 24a · Other expenses: BANK SERVICE CHARGES

    total $99 · program services $99

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $35,524 · end of year $0

  • 2 · Savings and temporary cash investments

    beginning of year $428,389 · end of year $0

  • 3 · Pledges and grants receivable

    end of year $0

  • 4 · Accounts receivable

    end of year $0

  • 5 · Loans and receivables from officers and key people

    end of year $0

  • 6 · Loans and receivables from disqualified persons

    end of year $0

  • 7 · Other notes and loans receivable

    end of year $0

  • 8 · Inventories for sale or use

    end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,765,866 · 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 $6,669,253 · end of year $0

  • 11 · Investments: publicly traded securities

    end of year $0

  • 12 · Investments: other securities

    end of year $0

  • 13 · Investments: program-related

    end of year $0

  • 14 · Intangible assets

    beginning of year $48,490 · end of year $0

  • 15 · Other assets

    end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $688,367 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $7,899,307 · end of year $0

  • 25 · Other liabilities

    beginning of year $250,819 · end of year $0

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $109,029 · end of year $0

Mission and programs · 2022

Mission

TO ASSIST NOT-FOR-PROFIT CHARTER SCHOOL OPERATORS IN THE FINANCING, REHABILITATION, AND DEVELOPMENT OF A CHARTER FACILITY BY HOLDING TITLE TO PROPERTY WHICH WILL THEN BE DEVELOPED AS A CHARTER SCHOOL.

Activities or mission (Part I)

SEE ATTACHMENT

  • THE CORPORATION WAS FORMED FOR THE PURPOSE OF ASSISTING NOT-FOR-PROFIT CHARTER SCHOOL OPERATORS IN THE FINANCING, REHABILITATION, AND DEVELOPMENT OF A CHARTER FACILITY.

    Expenses $496,260 · Grants $226,207 · Revenue $387,231

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • David Umansky

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Antonio Valla

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Frank Buccola

    SECRETARY/TREASURER

    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.

Grants on this return

  • CIVIC BUILDERS INC

    $225,075

    TO SUPPORT CIVIC BUILDERS, INC. IN ITS MISSION TO SUPPORT CHARTER SCHOOLS.

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.

Provenance

Return type
form_990
Tax year
2022
Filed
28 August 2023
IRS schema version
2022v5.0
Source object
202312409349301716

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