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Nonprofiteer
← REGIONAL PROPERTIES INC

Form 990 for tax year 2022

Filed by REGIONAL PROPERTIES INC.

Totals

Total revenue
$3,626,816
Total expenses
$2,862,223
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$2,817,069
Investment income
$809,747
Other revenue
$0
Total assets, end of year
$45,986,176
Total liabilities, end of year
$7,686,247
Net assets or fund balances, end of year
$38,299,929
Program services expenses (Part IX)
$2,518,741
Management and general expenses
$343,482
Fundraising expenses
$0
Program service expenses (Part III)
$2,518,741

Program services were 88.0% 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: RENT FROM TAX-EXEMPT AFFILIATES

    total $2,817,069 · related or exempt $2,817,069

  • 7a · Gross sales of assets other than inventory

    other assets $1,383,124

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

    other assets $573,377

  • 7c · Gain or loss

    other assets $809,747

  • 7d · Net gain or loss

    total $809,747 · excluded $809,747

Functional expenses

Part IX, the statement of functional expenses.

  • 11c · Fees: accounting

    total $41,945 · program services $38,524 · management and general $3,421

  • 11g · Fees: other

    total $1,832 · management and general $1,832

  • 13 · Office expenses

    total $20 · management and general $20

  • 16 · Occupancy

    total $281,361 · program services $247,599 · management and general $33,762

  • 20 · Interest

    total $406,092 · program services $357,361 · management and general $48,731

  • 22 · Depreciation, depletion and amortization

    total $2,129,712 · program services $1,874,147 · management and general $255,565

  • 23 · Insurance

    total $1,261 · program services $1,110 · management and general $151

Balance sheet

Part X, book values.

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,310

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

    $85,540,622

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

    $39,554,446

  • 10c · Land, buildings and equipment, net

    beginning of year $42,949,144 · end of year $45,986,176

  • 17 · Accounts payable and accrued expenses

    beginning of year $316,190 · end of year $265,359

  • 23 · Secured mortgages and notes payable

    beginning of year $8,887,658 · end of year $7,420,888

  • 25 · Other liabilities

    beginning of year $17,124 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $33,729,482 · end of year $38,299,929

Mission and programs · 2022

Mission

THE ORGANIZATION HOLDS TITLE TO REAL ESTATE AND LEASES TO RELATED TAX-EXEMPT ORGANIZATIONS IN SUPPORT OF THEIR MISSION TO PROVIDE HOUSING, SUPERVISION, TRAINING AND THERAPEUTIC, MEDICAL, EDUCATIONAL AND OTHER RELATED SERVICES TO DEVELOPMENTALLY DISABLED INDIVIDUALS.

Activities or mission (Part I)

TO HOLD TITLE TO PROPERTY AND LEASE TO RELATED TAX-EXEMPT ORGANIZATIONS.

  • THE ORGANIZATION LEASES FACILITIES TO RELATED ORGANIZATIONS WHOSE PURPOSE IS TO PROVIDE HOUSING, SUPERVISION, TRAINING, THERAPY, MEDICAL SERVICES, EDUCATION, AND OTHER RELATED SERVICES TO DEVELOPMENTALLY DISABLED INDIVIDUALS. THE LESSOR AND ITS LESSEES ARE COMMONLY CONTROLLED RELATED TAX-EXEMPT ORGANIZATIONS.

    Expenses $2,518,741 · Revenue $2,817,069

As filed on the 2022 return.

Listed in Part VII

  • Zachary Wray

    AUTHORIZED AGENT

    Total calculated
    $394,888
    From this org
    $0
    From related orgs
    $373,309
    Other
    $21,579
    Hours/week
    1 + 55 related

    Schedule J breakdown matched by us

    Base
    $0 + $373,309 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $21,579 related
    Nontaxable benefits
    $0
    Filer's total
    $0 + $394,888 related

  • John Kelleher CPA

    AUTHORIZED AGENT

    Total calculated
    $296,189
    From this org
    $0
    From related orgs
    $262,659
    Other
    $33,530
    Hours/week
    1 + 55 related

    Schedule J breakdown matched by us

    Base
    $0 + $262,659 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $33,530 related
    Nontaxable benefits
    $0
    Filer's total
    $0 + $296,189 related

  • Russell Armour

    PRESIDENT/DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 5 related

  • Robert H Moring Clu CFP

    CHAIR

    Total calculated
    $0
    Hours/week
    1 + 5 related

  • Pauline A Young EdD

    SECRETARY/TREASURER

    Total calculated
    $0
    Hours/week
    1 + 5 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

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

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
4 March 2024
IRS schema version
2022v5.0
Source object
202440649349300314

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