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Nonprofiteer
← CUMBERLAND WELLNESS PROPERTIES INC

Form 990 for tax year 2022

Filed by CUMBERLAND WELLNESS PROPERTIES INC.

Totals

Total revenue
$0
Total expenses
$0
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$0
Other revenue
$0
Total assets, end of year
$8,320
Total liabilities, end of year
$19,763
Net assets or fund balances, end of year
-$11,443
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
not reported

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.

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $8,320 · end of year $8,320

  • 25 · Other liabilities

    beginning of year $19,763 · end of year $19,763

  • 28 · Net assets with donor restrictions

    beginning of year -$11,443 · end of year -$11,443

Mission and programs · 2022

Mission

TO ACQUIRE CERTAIN PROPERTIES FROM THE UNIVERSITY OF THE CUMBERLANDS, INC. IN ORDER FOR THEM TO ACQUIRE ADDITIONAL FUNDING, THROUGH A NEW MARKETS TAX CREDIT TRANSACTION, TO COMPLETE A STATE OF THE ART SCIENCE BUILDING, POOL AND CERTAIN ATHLETIC FIELDS.

  • CUMBERLAND WELLNESS PROPERTIES, INC. WAS FORMED TO FACILITATE A NEW MARKETS TAX CREDIT TRANSACTION. THEIR FUNCTION IS TO LEASE THE SCIENCE BUILDING, POOL, ATHLETIC AND MARCHING BAND FIELDS TO THE UNIVERSITY OF THE CUMBERLANDS, INC. IN ORDER FOR THEM TO PROVIDE STATE-OF-THE-ART EDUCATIONAL FACILITIES.

As filed on the 2022 return.

Listed in Part VII

  • Quentin Young

    VICE PRESIDENT

    Total calculated
    $239,485
    From this org
    $0
    From related orgs
    $213,285
    Other
    $26,200
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $213,285 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $26,200 related
    Filer's total
    $0 + $239,485 related

  • Larry Cockrum

    PRESIDENT

    Total calculated
    $1,701,225
    From this org
    $0
    From related orgs
    $1,655,663
    Other
    $45,562
    Hours/week
    5 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,655,663 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $45,562 related
    Filer's total
    $0 + $1,701,225 related

  • Leslie Ryser

    SECRETARY

    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
  • 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)

PART 1, LINE 3
THE ORGANIZATION RELIES ON A RELATED ORGANIZATION, UNIVERSITY OF THE CUMBERLANDS, TO ESTABLISH THE COMPENSATION OF THE ORGANIZATION'S CFO AND PRESIDENT, WHO ARE COMPENSATED BY THE UNIVERSITY.

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.

Provenance

Return type
form_990
Tax year
2022
Filed
15 May 2024
IRS schema version
2022v5.0
Source object
202411369349304346

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