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Nonprofiteer
← MRCS V INC

Form 990 for tax year 2022

Filed by MRCS V INC.

Totals

Total revenue
$155,521
Total expenses
$189,048
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$87,579
Investment income
$1,065
Other revenue
$66,877
Total assets, end of year
$2,665,158
Total liabilities, end of year
$1,285,062
Net assets or fund balances, end of year
$1,380,096
Program services expenses (Part IX)
$162,754
Management and general expenses
$26,294
Fundraising expenses
$0
Program service expenses (Part III)
$162,754

Program services were 86.1% 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: Rental revenue

    total $87,579 · related or exempt $87,579 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $1,065 · related or exempt $0 · unrelated business $0 · excluded $1,065

  • 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

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 11a · Other revenue: Other Revenue - Debt Forgiveness

    total $66,877 · related or exempt $0 · unrelated business $0 · excluded $66,877

  • 11d · All other revenue

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

  • 11e · Other revenue, total

    $66,877

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $8,784 · management and general $8,784

  • 11c · Fees: accounting

    total $17,510 · management and general $17,510

  • 16 · Occupancy

    total $26,892 · program services $26,892

  • 22 · Depreciation, depletion and amortization

    total $58,226 · program services $58,226

  • 23 · Insurance

    total $21,084 · program services $21,084

  • 24a · Other expenses: Operating / Maintenance

    total $56,486 · program services $56,486 · management and general $0 · fundraising $0

  • 24b · Other expenses: Miscellaneous taxes and fees

    total $66 · program services $66 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $68,110 · end of year $67,534

  • 4 · Accounts receivable

    beginning of year $13,585 · end of year $9,500

  • 9 · Prepaid expenses and deferred charges

    beginning of year $307 · end of year $308

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

    $2,955,132

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

    $404,571

  • 10c · Land, buildings and equipment, net

    beginning of year $2,608,787 · end of year $2,550,561

  • 15 · Other assets

    beginning of year $31,105 · end of year $37,255

  • 17 · Accounts payable and accrued expenses

    beginning of year $10,500 · end of year $16,000

  • 25 · Other liabilities

    beginning of year $1,297,771 · end of year $1,269,062

  • 27 · Net assets without donor restrictions

    beginning of year $17,223 · end of year -$16,304

  • 28 · Net assets with donor restrictions

    beginning of year $1,396,400 · end of year $1,396,400

Mission and programs · 2022

Mission

To provide housing to individuals with developmental disabilities partially funded by US HUD, NYS OPWDD, and residents.

Activities or mission (Part I)

The mission of MRCS V, Inc. is to provide housing to individuals with developmental disabilities in two residences located in Greenlawn and Commack, NY.

  • To operate and maintain two residences, located in Greenlawn and Commack, New York, for twelve developmentally disabled adults.

    Expenses $162,754 · Revenue $87,579

As filed on the 2022 return.

Listed in Part VII

  • Stanfort J Perry

    Executive Director

    Total calculated
    $689,834
    From this org
    $0
    From related orgs
    $129,879
    Other
    $559,955
    Hours/week
    2 + 10 related

    Schedule J breakdown matched by us

    Base
    $0 + $494,627 related
    Bonus
    $0 + $30,000 related
    Other
    $0 + $35,328 related
    Deferred
    $0 + $99,623 related
    Nontaxable benefits
    $0 + $30,256 related
    Filer's total
    $0 + $689,834 related

  • Willard T Derr

    Chief Financial Officer

    Total calculated
    $529,846
    From this org
    $0
    From related orgs
    $96,964
    Other
    $432,882
    Hours/week
    2 + 10 related

    Schedule J breakdown matched by us

    Base
    $0 + $364,985 related
    Bonus
    $0 + $43,546 related
    Other
    $0 + $24,351 related
    Deferred
    $0 + $66,708 related
    Nontaxable benefits
    $0 + $30,256 related
    Filer's total
    $0 + $529,846 related

  • Victor LaPoma

    President

    Total calculated
    $0
    Hours/week
    1 + 5 related

  • Robert Molloy

    Vice President

    Total calculated
    $0
    Hours/week
    1 + 5 related

  • Thomas F Moore

    Director

    Total calculated
    $0
    Hours/week
    1 + 5 related

  • Thomas McCauley

    Director

    Total calculated
    $0
    Hours/week
    1 + 5 related

  • Andy Tarquinio

    Director

    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

  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 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)

Schedule J, Part I, Line 3
The Board of Directors of AHRC Nassau has a designated Compensation Committee which reviews and approves compensation to its Executive Director, other officers and key employees. The Compensation Committee utilizes, and retains for the organization's records, comparable industry data, employee tenure and skill evaluation and financial condition of the organization in establishing compensation policy. AHRC Nassau also engages an independent compensation consultant who provides a compensation study of salary and benefits, reviewed by the AHRC Nassau Compensation Committee.
Schedule J, Part I, Line 4
The Executive Director and Chief Financial Officer each received contributions of $90,925 and $57,730, respectively, to 457(f) retirement plans in year 2022. These contributions are included in Part II, Line 1(ii), column C(ii) and Part II, Line 2(ii), column C(ii), respectively. From inception, the plan was approved by an independent consultant who opined that the plan was consistent with competitive norms.

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
10 November 2023
IRS schema version
2022v5.0
Source object
202323179349304052

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