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Nonprofiteer
← PHINS MANAGEMENT INC

Form 990 for tax year 2023

Filed by PHINS MANAGEMENT INC.

Totals

Total revenue
$429,569
Total expenses
$631,936
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$429,569
Investment income
$0
Other revenue
$0
Total assets, end of year
$4,333,637
Total liabilities, end of year
$4,536,004
Net assets or fund balances, end of year
-$202,367
Program services expenses (Part IX)
$462,016
Management and general expenses
$169,920
Fundraising expenses
$0
Program service expenses (Part III)
$462,016

Program services were 73.1% 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: Student Housing Revenue

    total $429,569 · related or exempt $429,569 · unrelated business $0 · excluded $0

  • 2f · All other program service revenue

    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

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $0 · program services $0

  • 2 · Grants to domestic individuals

    total $0 · program services $0

  • 3 · Grants to foreign organizations and individuals

    total $0 · program services $0

  • 4 · Benefits paid to or for members

    total $0 · program services $0

  • 5 · Compensation of officers, directors and key employees

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

  • 6 · Compensation of disqualified persons

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

  • 7 · Other salaries and wages

    total $2,209 · program services $0 · management and general $2,209 · fundraising $0

  • 8 · Pension plan contributions

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

  • 9 · Other employee benefits

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

  • 10 · Payroll taxes

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

  • 11a · Fees: management

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

  • 11b · Fees: legal

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

  • 11c · Fees: accounting

    total $16,500 · program services $0 · management and general $16,500 · fundraising $0

  • 11d · Fees: lobbying

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

  • 11e · Fees: professional fundraising services

    total $0 · fundraising $0

  • 11g · Fees: other

    total $13,007 · program services $13,007

  • 13 · Office expenses

    total $15,258 · program services $15,258 · management and general $0 · fundraising $0

  • 20 · Interest

    total $208,837 · program services $208,837

  • 22 · Depreciation, depletion and amortization

    total $136,006 · program services $136,006

  • 23 · Insurance

    total $13,527 · program services $13,527

  • 24a · Other expenses: Subscription Fees

    total $1,384 · program services $0 · management and general $1,384 · fundraising $0

  • 24b · Other expenses: Repairs & Maintenance

    total $144,836 · program services $0 · management and general $144,836 · fundraising $0

  • 24c · Other expenses: Water

    total $4,991 · program services $0 · management and general $4,991 · fundraising $0

  • 24d · Other expenses: Property Tax

    total $75,381 · program services $75,381 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $0 · end of year $112,227

  • 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 $25,614

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

    $4,258,230

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

    $62,434

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $4,195,796

  • 11 · Investments: publicly traded securities

    beginning of year $0

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 14 · Intangible assets

    beginning of year $0

  • 15 · Other assets

    beginning of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $0 · end of year $598,310

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $1,150

  • 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 $42,046

  • 22 · Loans and payables to officers and key people

    beginning of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $3,820,926

  • 24 · Unsecured notes and loans payable

    beginning of year $0

  • 25 · Other liabilities

    beginning of year $0 · end of year $73,572

  • 27 · Net assets without donor restrictions

    beginning of year $0 · end of year -$202,367

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $0

Mission and programs · 2023

Mission

Phins Management was formed for the educational and charitable purposes of directly and indirectly supporting and benefiting Le Moyne College by owning and managing real property for the benefit of the College, making grants and other contributions of funds and other property to or for the benefit of the College, providing non-credit training programs, and establishing, managing and promoting educational, cultural, recreational, physical fitness, athletic and social activities and programs for the College's students, faculty and staff, and for the community at large.

Activities or mission (Part I)

Phins Management was formed for the educational and charitable purposes of directly and indirectly supporting and benefiting LeMoyne College by owning and managing real property for the benefit of the College, making grants and other contributions of funds and other property to or for the benefit of the College, providing non-credit training programs, and establishing, managing and promoting educational, cultural, recreational, physical fitness, athletic and social activities and programs for the College's students, faculty and staff, and for the community at large.

  • Phins Management Inc provides and manages additional student housing for Le Moyne College, benefiting the students enrolled in the College.

    Expenses $462,016 · Revenue $429,569

As filed on the 2023 return.

Listed in Part VII

  • Joseph Grasso

    President

    Total calculated
    $303,872
    From this org
    $0
    From related orgs
    $303,872
    Other
    $0
    Hours/week
    2 + 35 related

    Schedule J breakdown matched by us

    Base
    $0 + $280,952 related
    Bonus
    $0
    Other
    $0 + $22,920 related
    Deferred
    $0 + $26,572 related
    Nontaxable benefits
    $0 + $1,462 related
    Filer's total
    $0 + $331,906 related

  • Shaun Crisler

    Secretary

    Total calculated
    $143,458
    From this org
    $0
    From related orgs
    $143,458
    Other
    $0
    Hours/week
    2 + 35 related

    Schedule J breakdown matched by us

    Base
    $0 + $143,458 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $14,432 related
    Nontaxable benefits
    $0 + $14,661 related
    Filer's total
    $0 + $172,551 related

  • Sebastian Notaro

    Treasurer

    Total calculated
    $78,897
    From this org
    $0
    From related orgs
    $78,897
    Other
    $0
    Hours/week
    2 + 35 related

  • Christopher Curtis

    Director

    Total calculated
    $0
    Hours/week
    0

  • Denise Quinn

    Director

    Total calculated
    $0
    Hours/week
    0

  • Joseph Savage

    Director

    Total calculated
    $0
    Hours/week
    0

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
2023
Filed
4 October 2024
IRS schema version
2023v6.0
Source object
202541059349301979

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