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← VALLEY OF THE SUN SCHOOL PROPERTIES TWO

Form 990 for tax year 2022

Filed by VALLEY OF THE SUN SCHOOL PROPERTIES TWO.

Totals

Total revenue
$57,163
Total expenses
$125,362
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$56,761
Investment income
$402
Other revenue
$0
Total assets, end of year
$519,368
Total liabilities, end of year
$241,114
Net assets or fund balances, end of year
$278,254
Program services expenses (Part IX)
$100,735
Management and general expenses
$24,627
Fundraising expenses
$0
Program service expenses (Part III)
$100,735

Program services were 80.4% 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: Tenant Rental Income

    total $41,580 · related or exempt $41,580 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: Governmental Rental Subsidies

    total $15,181 · related or exempt $15,181 · unrelated business $0 · excluded $0

  • 2f · All other program service revenue

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

  • 3 · Investment income

    total $402 · related or exempt $402 · unrelated business $0 · excluded $0

  • 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

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $11,040 · management and general $11,040

  • 11c · Fees: accounting

    total $10,340 · management and general $10,340

  • 13 · Office expenses

    total $1,758 · management and general $1,758

  • 16 · Occupancy

    total $70,409 · program services $70,409

  • 22 · Depreciation, depletion and amortization

    total $30,326 · program services $30,326

  • 24a · Other expenses: Other miscellaneous expenses

    total $1,489 · program services $0 · management and general $1,489 · fundraising $0

  • 24e · All other expenses

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

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $7,082 · end of year $19,901

  • 4 · Accounts receivable

    end of year $450

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,948 · end of year $1,982

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

    $939,258

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

    $559,986

  • 10c · Land, buildings and equipment, net

    beginning of year $391,297 · end of year $379,272

  • 15 · Other assets

    beginning of year $112,825 · end of year $117,763

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,757 · end of year $2,301

  • 23 · Secured mortgages and notes payable

    beginning of year $83,849 · end of year $83,849

  • 25 · Other liabilities

    beginning of year $80,093 · end of year $154,964

  • 27 · Net assets without donor restrictions

    beginning of year $346,453 · end of year $278,254

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $0

Mission and programs · 2022

Mission

Provide housing for developmentally disabled adults

  • Provide housing for developmentally disabled adults

    Expenses $100,735 · Revenue $56,761

As filed on the 2022 return.

Listed in Part VII

  • Cletus Thiebeau

    Board Member

    Total calculated
    $286,028
    From this org
    $0
    From related orgs
    $266,088
    Other
    $19,940
    Hours/week
    2 + 38 related

    Schedule J breakdown matched by us

    Base
    $0 + $269,087 related
    Bonus
    $0 + $22,842 related
    Other
    $0 + $17,964 related
    Deferred
    $0 + $9,490 related
    Nontaxable benefits
    $0 + $8,391 related
    Filer's total
    $0 + $327,774 related

  • Donna Cordova

    Board Member

    Total calculated
    $124,124
    From this org
    $0
    From related orgs
    $119,350
    Other
    $4,774
    Hours/week
    2 + 38 related

    Schedule J breakdown matched by us

    Base
    $0 + $119,350 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $4,774 related
    Nontaxable benefits
    $0 + $2,589 related
    Filer's total
    $0 + $126,713 related

  • Jim Anderson

    Director

    Total calculated
    $84,332
    From this org
    $0
    From related orgs
    $74,467
    Other
    $9,865
    Hours/week
    5 + 35 related

  • Linda Miller

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Joel McCabe

    Director

    Total calculated
    $0
    Hours/week
    1

  • Cindy Quenneville

    President

    Total calculated
    $0
    Hours/week
    1

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
2022
Filed
29 February 2024
IRS schema version
2022v5.0
Source object
202400619349300255

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