Skip to content
Nonprofiteer
← STOWERS REAL ESTATE HOLDING CORPORATION

Form 990 for tax year 2022

Filed by STOWERS REAL ESTATE HOLDING CORPORATION.

This return was superseded by a later amendment. matched by us It is kept because history is preserved rather than replaced.

What the amendment changed

Compared with the latest return for 2022 , filed 26 April 2024. 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
$2,226,136 changed to $1,115,361
Total expenses
$952,152 changed to $532,346
Program service revenue
$2,230,551 changed to $1,115,275
Investment income
-$4,415 changed to $86
Total assets, end of year
$10,889,842 changed to $10,371,421
Total liabilities, end of year
$0 changed to $1,115,410
Net assets or fund balances, end of year
$10,889,842 changed to $9,256,011

Listed under a different title

  • Penny M Spence: DIRECTOR AS OF 01/01/22 then DIRECTOR

Totals

Total revenue
$2,226,136
Total expenses
$952,152
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$2,230,551
Investment income
-$4,415
Other revenue
$0
Total assets, end of year
$10,889,842
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$10,889,842
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
$0

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.

  • 1a · Federated campaigns

    $0

  • 1b · Membership dues

    $0

  • 1c · Fundraising events

    $0

  • 1d · Related organizations

    $0

  • 1e · Government grants (contributions)

    $0

  • 1f · All other contributions, gifts and grants

    $0

  • 1g · Noncash contributions included above

    $0

  • 2a · Program service revenue: RENT FROM RELATED TAX EXEMPT ORG

    total $2,230,551 · related or exempt $2,230,551 · unrelated business $0 · excluded $0

  • 2f · All other program service revenue

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

  • 3 · Investment income

    total $361 · related or exempt $0 · unrelated business $0 · excluded $361

  • 4 · Income from investment of tax-exempt bond proceeds

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

  • 5 · Royalties

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

  • 6a · Gross rents

    real property $0 · personal property $0

  • 6b · Less rental expenses

    real property $0 · personal property $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

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

  • 7a · Gross sales of assets other than inventory

    securities $2,230,551 · other assets $0

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

    securities $2,235,327 · other assets $0

  • 7c · Gain or loss

    securities -$4,776 · other assets $0

  • 7d · Net gain or loss

    total -$4,776 · related or exempt $0 · unrelated business $0 · excluded -$4,776

  • 8a · Fundraising events: gross income

    $0

  • 8a · Fundraising events: contributions included on line 1c

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0 · unrelated business $0 · excluded $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

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

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

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

  • 1 · Grants to domestic organizations and governments

    total $0

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $0

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $0

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $0

  • 10 · Payroll taxes

    total $0

  • 11a · Fees: management

    total $25,000

  • 11b · Fees: legal

    total $1,573

  • 11c · Fees: accounting

    total $0

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $0

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $0

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $30,555

  • 17 · Travel

    total $0

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $0

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $895,024

  • 23 · Insurance

    total $0

  • 24e · All other expenses

    total $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $22,424 · end of year $104,943

  • 2 · Savings and temporary cash investments

    beginning of year $0 · end of year $0

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $0 · end of year $0

  • 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

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $0 · end of year $0

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

    $23,253,888

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

    $12,473,632

  • 10c · Land, buildings and equipment, net

    beginning of year $11,675,280 · end of year $10,780,256

  • 11 · Investments: publicly traded securities

    beginning of year $9,191 · end of year $4,643

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $0 · end of year $0

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $0 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $11,706,895 · end of year $10,889,842

  • 28 · Net assets with donor restrictions

    beginning of year $0 · 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 $0 · end of year $0

Mission and programs · 2022

Mission

SEE SCHEDULE O

Activities or mission (Part I)

SREHC'S EXEMPT PURPOSE IS TO HOLD TITLE TO REAL PROPERTY AND REMIT INCOME LESS CASH RESERVES TO STOWERS RESOURCE MANAGEMENT INC. ("SRM"), ITS EXEMPT PARENT.

  • PER MISSION DESCRIBED IN FORM 990, PART III, LINE 1, SREHC ACTIVITIES ARE CONSISTENT WITH ITS EXEMPT PURPOSE WITHIN THE MEANING OF CODE SECTION 501(C)(2) TITLE HOLDING COMPANY. SREHC WAS INITIALLY FUNDED BY ITS TAX EXEMPT PARENT, SRM. DURING 2009, SREHC COMPLETED BUILDING RENOVATIONS ON PROPERTY RECEIVED AS A CONTRIBUTION IN 2008. THE RENOVATIONS MADE THE PROPERTY MORE SUITABLE FOR USE BY RELATED PARTIES. SREHC MAY LEASE REAL PROPERTY TO SRM AT COST OR FOR A NOMINAL AMOUNT OR LEASE PROPERTY AT COST TO TAX EXEMPT ORGANIZATIONS THAT ARE SUPPORTED BY SRM OR LEASE PROPERTY TO OTHER RELATED TAX EXEMPT ORGANIZATIONS AND FOR-PROFIT ORGANIZATIONS THAT ARE WHOLLY-OWNED BY RELATED TAX EXEMPT ORGANIZATIONS. SREHC MAY ALSO LEASE REAL PROPERTY TO UNRELATED PARTIES AT FAIR MARKET VALUE. IN 2009, SREHC EXECUTED A LEASE FOR USE OF THE PROPERTY TO STOWERS INSTITUTE FOR MEDICAL RESEARCH ("SIMR"); SIMR IS A RELATED TAX EXEMPT ORGANIZATION THAT IS SUPPORTED BY SRM. SREHC HAD NO OTHER LEASE AGREEMENTS IN PLACE AS OF 12/31/22 .

As filed on the 2022 return.

Listed in Part VII

  • Charles German

    DIRECTOR/SECRETARY

    Total calculated
    $1,126,107
    From this org
    $0
    From related orgs
    $1,059,057
    Other
    $67,050
    Hours/week
    1 + 48 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,040,079 related
    Bonus
    $0
    Other
    $0 + $18,978 related
    Deferred
    $0 + $45,750 related
    Nontaxable benefits
    $0 + $21,300 related
    Filer's total
    $0 + $1,126,107 related

  • Richard W Brown

    DIRECTOR/PRESIDENT

    Total calculated
    $2,880,761
    From this org
    $0
    From related orgs
    $2,813,862
    Other
    $66,899
    Hours/week
    1 + 48 related

    Schedule J breakdown matched by us

    Base
    $0 + $2,771,091 related
    Bonus
    $0
    Other
    $0 + $42,771 related
    Deferred
    $0 + $45,750 related
    Nontaxable benefits
    $0 + $21,149 related
    Filer's total
    $0 + $2,880,761 related

  • David A Welte

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 8 related

  • Penny M Spence

    DIRECTOR AS OF 01/01/22

    Total calculated
    $600,033
    From this org
    $0
    From related orgs
    $537,787
    Other
    $62,246
    Hours/week
    1 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $537,007 related
    Bonus
    $0
    Other
    $0 + $780 related
    Deferred
    $0 + $45,750 related
    Nontaxable benefits
    $0 + $16,496 related
    Filer's total
    $0 + $600,033 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

The filer's explanations (Part III)

Schedule J, Part I, Line 3
RICHARD W. BROWN RECEIVED COMPENSATION FROM STOWERS RESOURCE MANAGEMENT ("SRM") IN HIS FULL-TIME ROLE AS PRESIDENT OF SRM. PENNY M. SPENCE RECEIVED COMPENSATION FROM SRM IN HER FULL-TIME ROLE AS EXECUTIVE VICE-PRESIDENT AND CFO OF SRM. CHARLES GERMAN RECEIVED COMPENSATION FROM SRM IN HIS FULL-TIME ROLE AS EXECUTIVE VICE-PRESIDENT AND GENERAL COUNSEL OF SRM. SRM FOLLOWS THE PROCEDURES OF THE REBUTTABLE PRESUMPTION TO ESTABLISH THEIR COMPENSATION INCLUDING RETAINING THE SERVICES OF AN INDEPENDENT NATIONALLY KNOWN COMPENSATION CONSULTANT AND USING COMPENSATION COMMITTEES.

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 corporations and trusts

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

  • BIOMED VALLEY DISCOVERIES INC

    C Corporation · SEE PART VII · DE · controlled entity

    Directly controlled by BVC

Provenance

Return type
form_990
Tax year
2022
Filed
2 November 2023
IRS schema version
2022v5.0
Source object
202333069349301998

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.