Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: RENTAL INCOME

  total $3,177,308 · related or exempt $3,177,308

• 2b · Program service revenue: PARKING

  total $13,373 · related or exempt $13,373

• 2c · Program service revenue: LAUNDY & VENDING

  total $11,803 · related or exempt $11,803

• 3 · Investment income

  total $14,535 · excluded $14,535

• 11a · Other revenue: MISCELLANEOUS INCOME

  total $2,175 · related or exempt $2,175

• 11e · Other revenue, total

  $2,175

Functional expenses

Part IX, the statement of functional expenses.

• 11a · Fees: management

  total $371,300 · management and general $371,300

• 11b · Fees: legal

  total $4,832 · management and general $4,832

• 11c · Fees: accounting

  total $97,000 · management and general $97,000

• 11g · Fees: other

  total $793,932 · program services $793,932

• 12 · Advertising and promotion

  total $13,878 · management and general $13,878

• 13 · Office expenses

  total $9,175 · program services $9,175

• 16 · Occupancy

  total $430,423 · program services $430,423

• 22 · Depreciation, depletion and amortization

  total $787,342 · program services $787,342

• 23 · Insurance

  total $142,490 · program services $142,490

• 24a · Other expenses: REPAIRS & MAINTENANCE

  total $610,702 · program services $610,702

• 24b · Other expenses: MISCELLANEOUS ADMINISTR

  total $223,471 · management and general $223,471

• 24c · Other expenses: SERVICE COORDINATOR EXP

  total $89,162 · program services $89,162

• 24d · Other expenses: SECURITY CONTRACT

  total $37,811 · program services $37,811

• 24e · All other expenses

  total $39,177 · program services $39,177

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $444,977 · end of year $141,176

• 4 · Accounts receivable

  beginning of year $25,499 · end of year $62,764

• 9 · Prepaid expenses and deferred charges

  beginning of year $33,860 · end of year $46,823

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

  $32,467,270

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

  $14,907,904

• 10c · Land, buildings and equipment, net

  beginning of year $17,869,801 · end of year $17,559,366

• 15 · Other assets

  beginning of year $2,423,952 · end of year $2,476,963

• 17 · Accounts payable and accrued expenses

  beginning of year $263,662 · end of year $246,583

• 19 · Deferred revenue

  beginning of year $10,512 · end of year $14,027

• 23 · Secured mortgages and notes payable

  beginning of year $963,427 · end of year $856,135

• 25 · Other liabilities

  beginning of year $178,487 · end of year $219,847

• 27 · Net assets without donor restrictions

  beginning of year -$9,653,031 · end of year -$10,861,118

• 28 · Net assets with donor restrictions

  beginning of year $29,035,032 · end of year $29,811,618

The filer's explanations (Part III)

PART I, LINE 1A

THE ORGANIZATION'S PRESIDENT/CEO IS NOT COMPENSATED BY THE ORGANIZATION BUT IS COMPENSATED BY ITS CONSTROLLING ORGANIZATION, IMPACT SEVEN, INC. IMPACT SEVEN, INC. USES THE FOLLOWING METHODS TO ESTABLISH COMPENSATION OF THE ORGANIZATION'S PRESIDENT/CEO: -COMPENSATION COMMITTEE -INDEPENDENT COMPENSATION CONSULTANT -WRITTEN EMPLOYMENT CONTRACT, AND -APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE

PART I, LINE 4B

BRETT GERBER PARTICIPATED IN A SECTION 457(F) BENEFIT PLAN. NO AMOUNTS WERE PAID UNDER THE PLAN DURING THE YEAR.

SCHEDULE J, PART II:

THE ORGANIZATION'S PRESIDENT/CEO IS NOT COMPENSATED BY THE ORGANIZATION BUT IS COMPENSATED BY ITS CONTROLLING ORGANIZATION, IMPACT SEVEN INC. THE ORGANIZATION HAS ITS OWN PROPERTY BUT NOT ITS OWN EMPLOYEES. IMPACT SEVEN, INC. CHARGES THE ORGANIZATION FOR ITS USE OF ITS EMPLOYEES SO THAT MANAGEMENT AND BOOKKEEPING FUNCTIONS CAN BE CARRIED OUT.