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Nonprofiteer
← PINNACLE OPPURTUNITIES INC

Form 990 for tax year 2023

Filed by PINNACLE OPPURTUNITIES INC.

Totals

Total revenue
$5,888,221
Total expenses
$6,125,951
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$5,738,682
Investment income
$149,539
Other revenue
$0
Total assets, end of year
$5,861,256
Total liabilities, end of year
$1,214,758
Net assets or fund balances, end of year
$4,646,498
Program services expenses (Part IX)
$5,617,830
Management and general expenses
$508,121
Fundraising expenses
$0
Program service expenses (Part III)
$5,617,830

Program services were 91.7% 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: MEDICARE & MEDICAID

    total $5,013,928 · related or exempt $5,013,928

  • 2b · Program service revenue: PRIVATE PAY RESIDENT SERVICES

    total $636,160 · related or exempt $636,160

  • 2c · Program service revenue: AID TRAINING INCOME

    total $88,594 · related or exempt $88,594

  • 3 · Investment income

    total $146,714 · excluded $146,714

  • 7a · Gross sales of assets other than inventory

    securities $3,576,419

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

    securities $3,573,594

  • 7c · Gain or loss

    securities $2,825

  • 7d · Net gain or loss

    total $2,825 · excluded $2,825

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $3,481,481 · program services $3,390,976 · management and general $90,505

  • 8 · Pension plan contributions

    total $12,657 · program services $12,328 · management and general $329

  • 9 · Other employee benefits

    total $191,943 · program services $186,953 · management and general $4,990

  • 10 · Payroll taxes

    total $264,709 · program services $257,828 · management and general $6,881

  • 11a · Fees: management

    total $379,717 · program services $253,228 · management and general $126,489

  • 11b · Fees: legal

    total $71,800 · management and general $71,800

  • 11c · Fees: accounting

    total $32,971 · management and general $32,971

  • 11d · Fees: lobbying

    total $2,474 · management and general $2,474

  • 11g · Fees: other

    total $69,450 · program services $69,450

  • 12 · Advertising and promotion

    total $185,085 · program services $166,577 · management and general $18,508

  • 13 · Office expenses

    total $52,416 · program services $41,644 · management and general $10,772

  • 14 · Information technology

    total $9,988 · program services $7,990 · management and general $1,998

  • 16 · Occupancy

    total $174,523 · program services $169,842 · management and general $4,681

  • 17 · Travel

    total $87,934 · program services $87,183 · management and general $751

  • 19 · Conferences, conventions and meetings

    total $49,468 · program services $44,521 · management and general $4,947

  • 22 · Depreciation, depletion and amortization

    total $97,598 · program services $92,718 · management and general $4,880

  • 23 · Insurance

    total $29,422 · program services $11,729 · management and general $17,693

  • 24a · Other expenses: SUPPLIES & SMALL EQUIPM

    total $472,613 · program services $472,613

  • 24b · Other expenses: MEDICAID ASSESSMENT TAX

    total $280,732 · program services $280,732

  • 24c · Other expenses: UNCOLLECTIBLE CHARGES

    total $101,181 · management and general $101,181

  • 24d · Other expenses: EQUIPMENT RENTAL & MAIN

    total $64,862 · program services $64,862

  • 24e · All other expenses

    total $12,927 · program services $6,656 · management and general $6,271

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $304,719 · end of year $285,205

  • 2 · Savings and temporary cash investments

    beginning of year $534,394 · end of year $418,031

  • 4 · Accounts receivable

    beginning of year $1,205,406 · end of year $701,730

  • 9 · Prepaid expenses and deferred charges

    beginning of year $10,894 · end of year $14,698

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

    $5,063,132

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

    $4,335,070

  • 10c · Land, buildings and equipment, net

    beginning of year $684,697 · end of year $728,062

  • 11 · Investments: publicly traded securities

    beginning of year $2,240,368 · end of year $2,283,691

  • 13 · Investments: program-related

    beginning of year $1,429,841 · end of year $1,429,839

  • 17 · Accounts payable and accrued expenses

    beginning of year $867,209 · end of year $480,453

  • 19 · Deferred revenue

    beginning of year $30,000 · end of year $28,000

  • 25 · Other liabilities

    beginning of year $706,305 · end of year $706,305

  • 27 · Net assets without donor restrictions

    beginning of year $4,806,805 · end of year $4,646,498

Mission and programs · 2023

Mission

THE MISSION OF THE ORGANIZATION IS ARTICULATED IN ITS ARTICLES OF INCORPORATION AS FOLLOWS:THE CORPORATION IS ORGANIZED EXCLUSIVELY FOR CHARITABLE PURPOSES AS DEFINED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED. IN FURTHERANCE OF THOSE CHARITABLE PURPOSES, THE CORPORATION SHALL BE EMPOWERED TO BUILD, LEASE, ACQUIRE AND OTHERWISE OWN AND OPERATE RESIDENTIAL FACILITIES, NURSING FACILITIES AND OTHER RELATED FACILITIES AND SERVICES FOR THE ELDERLY, MENTALLY RETARDED, MENTALLY ILL, DEVELOPMENTALLY DISABLED AND OTHER LIKE CONDITIONS WITHOUT REGARD TO RACE, RELIGION, COLOR, SEX, CREED OR NATIONAL ORIGIN OF SAID PERSONS. THE CORPORATION WILL NOT ENGAGE IN THE PRACTICE OF MEDICINE NOR RENDER ANY LICENSED PROFESSIONAL SERVICES.

Activities or mission (Part I)

TO PROVIDE & OPERATE LONG-TERM CARE FACILITIES FOR THE DEVELOPMENTALLY DISABLED.

  • ALL PROGRAM SERVICES RELATE TO PROVIDING AND OPERATING LONG-TERM CARE FACILITIES AND OTHER RELATED SERVICES TO THE DEVELOPMENTALLY DISABLED. THE ORGANIZATION OPERATES 6 FACILITIES WITH A COMBINED TOTAL OF 88 BEDS WITHIN THESE FACILITIES.

    Expenses $5,617,830 · Revenue $5,738,682

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Jeffrey Shaw

    PRESIDENT

    Total calculated
    $9,000
    From this org
    $0
    From related orgs
    $9,000
    Other
    $0
    Hours/week
    1 + 1 related

  • John Carmody

    VICE PRESIDENT

    Total calculated
    $4,500
    From this org
    $0
    From related orgs
    $4,500
    Other
    $0
    Hours/week
    1 + 1 related

  • Gordon Monn

    DIRECTOR

    Total calculated
    $4,500
    From this org
    $0
    From related orgs
    $4,500
    Other
    $0
    Hours/week
    1 + 1 related

  • Michael Wartman

    DIRECTOR

    Total calculated
    $4,500
    From this org
    $0
    From related orgs
    $4,500
    Other
    $0
    Hours/week
    1 + 1 related

  • Ron Wilson Rfms Inc

    CFO UNTIL 3/31/24

    Total calculated
    $0
    Hours/week
    40

  • Brian Burger Rfms Inc

    CFO AS OF 3/31/24

    Total calculated
    $0
    Hours/week
    40

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

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.

  • FRANCES HOUSE INC

    501(C)(3) · OPERATION OF LONG-TERM CARE FACILITIES FOR THE DEVELOPMENTALLY DISABLED. · IL

  • PIONEER CONCEPTS INC

    501(C)(3) · OPERATION OF LONG-TERM CARE FACILITIES FOR THE DEVELOPMENTALLY DISABLED. · IL

    Directly controlled by FRANCES HOUSE INC

  • RESIDENTIAL ALTERNATIVES OF ILLINOIS INC

    501(C)(3) · OPERATES ELDERLY SKILLED NURSING,ASSISTED/INDEPNDNT LIVING FACILITIES · IL

    Directly controlled by FRANCES HOUSE INC

  • PEORIA MANOR COURT LTD NFP

    501(C)(2) · ACQUIRING & HOLDING TITLE TO PROPERTY; REMITTING ALL INCOME TO 501(C)(3) · IL

    Directly controlled by FRANCES HOUSE INC

  • PERU BECKER LTD NFP

    501(C)(2) · ACQUIRING & HOLDING TITLE TO PROPERTY; REMITTING ALL INCOME TO 501(C)(3) · IL

    Directly controlled by FRANCES HOUSE INC

Provenance

Return type
form_990
Tax year
2023
Filed
22 January 2025
IRS schema version
2023v6.0
Source object
202540309349300939

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