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Nonprofiteer
← PRESBYTERIAN PROPERTIES INC

Form 990 for tax year 2024

Filed by PRESBYTERIAN PROPERTIES INC.

Totals

Total revenue
$4,623,571
Total expenses
$3,761,527
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$4,623,571
Investment income
$0
Other revenue
$0
Total assets, end of year
$93,763,615
Total liabilities, end of year
$65,178,777
Net assets or fund balances, end of year
$28,584,838
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
$3,761,527

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 OF REAL ESTATE

    total $4,623,571 · related or exempt $4,623,571

  • 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

  • 11d · All other revenue

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

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $654,736

  • 11g · Fees: other

    total $219,846

  • 16 · Occupancy

    total $2,856,227

  • 20 · Interest

    total $3,492,315

  • 22 · Depreciation, depletion and amortization

    total $3,562,537

  • 23 · Insurance

    total $131,896

  • 24a · Other expenses: REPAIRS - OTHER

    total $1,318,840

  • 24b · Other expenses: PROPERTY TAXES

    total $1,295,311

  • 24c · Other expenses: MISCELLANEOUS

    total $5,728

  • 24d · Other expenses: RECOVERY OF EXPENSE

    total -$9,775,909

  • 24e · All other expenses

    total $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $166,741 · end of year $3,085

  • 4 · Accounts receivable

    beginning of year $657,182 · end of year -$68,951

  • 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

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

    $137,977,225

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

    $59,434,585

  • 10c · Land, buildings and equipment, net

    beginning of year $96,040,087 · end of year $78,542,640

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $15,286,841

  • 17 · Accounts payable and accrued expenses

    beginning of year $850,163 · end of year $937,589

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $68,291,053 · end of year $64,241,188

  • 27 · Net assets without donor restrictions

    beginning of year $27,722,794 · end of year $28,584,838

Mission and programs · 2024

Mission

SUPPORT OF PRESBYTERIAN HEALTHCARE SERVICES, A SECTION 501(C)(3) ORGANIZATION.

Activities or mission (Part I)

SEE SCHEDULE O

  • RENTAL INCOME DERIVED FROM THE RENTAL OF MEDICAL OFFICE BUILDINGS AND OTHER REAL ESTATE TO ENHANCE ACCESS TO HOSPITAL FACILITIES AND TO BENEFIT THE PARENT ORGANIZATION, PRESBYTERIAN HEALTHCARE SERVICES, A 501(C)(3) ORGANIZATION.

    Expenses $3,761,527 · Revenue $4,623,571

As filed on the 2024 return.

Listed in Part VII

  • Eric Cornish

    VP / Director

    Total calculated
    $349,510
    From this org
    $0
    From related orgs
    $319,047
    Other
    $30,463
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $253,479 related
    Bonus
    $0 + $58,279 related
    Other
    $0 + $7,289 related
    Deferred
    $0 + $8,945 related
    Nontaxable benefits
    $0 + $21,518 related
    Filer's total
    $0 + $349,510 related

  • James Noble

    VP / Director

    Total calculated
    $2,321,754
    From this org
    $0
    From related orgs
    $2,171,622
    Other
    $150,132
    Hours/week
    1 + 41 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,002,720 related
    Bonus
    $0 + $699,196 related
    Other
    $0 + $469,706 related
    Deferred
    $0 + $114,527 related
    Nontaxable benefits
    $0 + $35,605 related
    Filer's total
    $0 + $2,321,754 related

  • Lauren M Cates

    President / Director

    Total calculated
    $1,445,843
    From this org
    $0
    From related orgs
    $1,308,015
    Other
    $137,828
    Hours/week
    1 + 42 related

    Schedule J breakdown matched by us

    Base
    $0 + $901,733 related
    Bonus
    $0 + $402,878 related
    Other
    $0 + $3,404 related
    Deferred
    $0 + $112,364 related
    Nontaxable benefits
    $0 + $25,464 related
    Filer's total
    $0 + $1,445,843 related

  • Ryan Burt

    VP / Director

    Total calculated
    $1,884,621
    From this org
    $0
    From related orgs
    $1,772,034
    Other
    $112,587
    Hours/week
    1 + 41 related

    Schedule J breakdown matched by us

    Base
    $0 + $705,885 related
    Bonus
    $0 + $454,886 related
    Other
    $0 + $611,263 related
    Deferred
    $0 + $85,751 related
    Nontaxable benefits
    $0 + $26,836 related
    Filer's total
    $0 + $1,884,621 related

  • Timothy Johnsen

    VP / Director

    Total calculated
    $1,501,559
    From this org
    $0
    From related orgs
    $1,385,599
    Other
    $115,960
    Hours/week
    1 + 41 related

    Schedule J breakdown matched by us

    Base
    $0 + $684,761 related
    Bonus
    $0 + $468,127 related
    Other
    $0 + $232,711 related
    Deferred
    $0 + $87,250 related
    Nontaxable benefits
    $0 + $28,710 related
    Filer's total
    $0 + $1,501,559 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

The filer's explanations (Part III)

Schedule J, Part I, Line 3 CEO/EXECUTIVE DIRECTOR COMPENSATION
PRESBYTERIAN PROPERTIES, INC. (PPI), THE REPORTING ORGANIZATION, DOES NOT HAVE A CEO OR EXECUTIVE DIRECTOR. THEREFORE, NONE OF THESE ITEMS APPLY. ADDITIONALLY, NONE OF THE OFFICERS OF PPI ARE COMPENSATED BY PPI.
Schedule J, Part II, Column (C) DEFFERED COMPENSATION
RYAN BURT IS A PARTICIPANT IN A RETENTION AGREEMENT WITH A RELATED ORGANIZATION. IN 2024, $68,501 WAS DEFERRED UNDER THIS AGREEMENT FOR MR. BURT. THIS AMOUNT IS INCLUDED IN THE REPORTED DEFERRED COMPENSATION. ALSO, IN 2024, MR. BURT RECEIVED A VESTED PAYMENT FROM THE RETENTION PLAN OF $56,345. THIS AMOUNT IS REPORTED IN CURRENT COMPENSATION, AS REQUIRED, AND IS ALSO INCLUDED IN COLUMN F OF SCHEDULE J. JAMES NOBLE WAS A PARTICIPANT IN A RETENTION AGREEMENT WITH A RELATED ORGANIZATION. IN 2024, $99,002 WAS DEFERRED UNDER THIS AGREEMENT FOR MR. NOBLE. THIS AMOUNT IS INCLUDED IN THE REPORTED DEFERRED COMPENSATION. ALSO, IN 2024, MR. NOBLE RECEIVED A VESTED PAYMENT FROM THE RETENTION PLAN OF $71,603. THIS AMOUNT IS REPORTED IN CURRENT COMPENSATION, AS REQUIRED, AND IS ALSO INCLUDED IN COLUMN F OF SCHEDULE J. TIMOTHY JOHNSEN IS A PARTICIPANT IN A RETENTION AGREEEMENT WITH A RELATED ORGANIZATION. IN 2024, $70,000 WAS DEFERRED UNDER THIS AGREEMENT FOR MR. JOHNSEN. THIS AMOUNT IS INCLUDED IN THE REPORTED DEFERRED COMPENSATION AMOUNT. ALSO, IN 2024, MR. JOHNSEN RECEIVED A VESTED PAYMENT FROM THE RETENTION PLAN OF $68,951. THIS AMOUNT IS REPORTED IN CURRENT COMPENSATION, AS REQUIRED, AND IS ALSO INCLUDED IN COLUMN F OF SCHEDULE J. LAUREN M CATES IS A PARTICIPANT IN A RETENTION AGREEMENT WITH A RELATED ORGANIZATION. IN 2024, $88,001 WAS DEFERRED UNDER THIS AGREEMENT FOR MS. CATES. THIS AMOUNT IS INCLUDED IN THE REPORTED DEFERRED COMPENSATION.

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
2024
Filed
17 November 2025
IRS schema version
2024v5.1
Source object
202523219349305947

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