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Nonprofiteer
← VWE PROPERTIES CORPORATION

Form 990 for tax year 2022

Filed by VWE PROPERTIES CORPORATION.

Totals

Total revenue
$2,353,271
Total expenses
$1,972,014
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$2,331,750
Investment income
$10,290
Other revenue
$11,231
Total assets, end of year
$6,103,181
Total liabilities, end of year
$14,134,994
Net assets or fund balances, end of year
-$8,031,813
Program services expenses (Part IX)
$1,899,908
Management and general expenses
$72,106
Fundraising expenses
$0
Program service expenses (Part III)
$1,899,908

Program services were 96.3% 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: PARKING FACILITY

    total $2,331,750 · related or exempt $2,331,750

  • 3 · Investment income

    total $10,290 · excluded $10,290

  • 11d · All other revenue

    total $11,231 · related or exempt $11,231

  • 11e · Other revenue, total

    $11,231

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $544,579 · program services $479,579 · management and general $65,000

  • 11g · Fees: other

    total $17,719 · program services $14,503 · management and general $3,216

  • 13 · Office expenses

    total $59,351 · program services $55,461 · management and general $3,890

  • 16 · Occupancy

    total $47,201 · program services $47,201

  • 20 · Interest

    total $346,484 · program services $346,484

  • 22 · Depreciation, depletion and amortization

    total $762,250 · program services $762,250

  • 23 · Insurance

    total $144,709 · program services $144,709

  • 24a · Other expenses: REPAIRS AND MAINTENANCE

    total $43,885 · program services $43,885

  • 24e · All other expenses

    total $5,836 · program services $5,836

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $3,150,573 · end of year $3,258,768

  • 4 · Accounts receivable

    beginning of year $119,343 · end of year $134,396

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

    $20,643,090

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

    $17,933,073

  • 10c · Land, buildings and equipment, net

    beginning of year $3,363,881 · end of year $2,710,017

  • 17 · Accounts payable and accrued expenses

    beginning of year $10,228 · end of year $45,739

  • 20 · Tax-exempt bond liabilities

    beginning of year $6,665,000 · end of year $5,170,000

  • 25 · Other liabilities

    beginning of year $8,371,639 · end of year $8,919,255

  • 27 · Net assets without donor restrictions

    beginning of year -$8,413,070 · end of year -$8,031,813

Mission and programs · 2022

Mission

PROVIDE PARKING FACILITIES FOR THE BENEFIT OF JAMAICA HOSPITAL AND THE JAMAICA HOSPITAL NURSING HOME.

  • OPERATION OF VARIOUS PARKING FACILITIES FOR THE BENEFIT OF JAMAICA HOSPITAL AND THE JAMAICA HOSPITAL NURSING HOME.

    Expenses $1,899,908 · Revenue $2,342,981

As filed on the 2022 return.

Listed in Part VII

  • Bruce Flanz

    PRESIDENT & CEO

    Total calculated
    $2,569,263
    From this org
    $0
    From related orgs
    $2,509,586
    Other
    $59,677
    Hours/week
    2.5 + 62.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $2,349,610 related
    Bonus
    $0
    Other
    $0 + $159,976 related
    Deferred
    $0 + $7,625 related
    Nontaxable benefits
    $0 + $52,052 related
    Filer's total
    $0 + $2,569,263 related

  • Mounir F Doss

    EXECUTIVE VP & CFO

    Total calculated
    $1,774,707
    From this org
    $0
    From related orgs
    $1,715,030
    Other
    $59,677
    Hours/week
    2.5 + 62.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,681,162 related
    Bonus
    $0
    Other
    $0 + $33,868 related
    Deferred
    $0 + $7,625 related
    Nontaxable benefits
    $0 + $52,052 related
    Filer's total
    $0 + $1,774,707 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.

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 partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • NHP HOLDINGS LLC

    HOLDING COMPANY · NY

Related corporations and trusts

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

  • FRR RECOVERY SERVICES

    C · COLLECTION AGENCY · NY

  • HI TECH MEDICAL EQUIPMENT

    C · DURABLE MEDICAL EQUIPMENT COMPANY/INACTIVE · NY

  • JAMAICA RX

    C · RETAIL PHARMACY · NY

  • MEDISYS HOME CARE SERVICE INC

    C · HOME CARE STAFFING/INACTIVE · NY

  • MEDISYS IPA

    C · PHYSICIAN CONTRACTING/INACTIVE · NY

  • MEDISYS SERVICE CORPORATION

    C · HOLDING COMPANY · NY

  • MEDISYS VENTURES

    C · HOLDING COMPANY · NY

  • MHN REALTY

    C · REAL ESTATE/INACTIVE · NY

  • SECOND CENTURY SERVICE CORPORATION

    C · RETAIL PHARMACY · NY

Provenance

Return type
form_990
Tax year
2022
Filed
13 November 2023
IRS schema version
2022v5.0
Source object
202333189349312818

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