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← OUR LADY OF WISDOM FACILITY CORPORATION

Form 990 for tax year 2022

Filed by OUR LADY OF WISDOM FACILITY CORPORATION.

What the amendment changed

Compared with the return it replaced , filed 20 October 2023. matched by us Only the Part I totals and the names listed in Part VII are compared. We relate returns by organization, tax year and form, and order them by each return's own timestamp; the filer's own "amended return" checkbox is a separate fact.

Total revenue
$803,643 changed to $66,864
Total expenses
$6,708,625 changed to $130,571
Program service revenue
$802,366 changed to $66,864
Investment income
$1,277 changed to $0
Total assets, end of year
$7,360,077 changed to $7,406,844
Total liabilities, end of year
$10,352,710 changed to $7,365,356
Net assets or fund balances, end of year
-$2,992,633 changed to $41,488
Program services expenses
$6,698,625 changed to $12,160
Management and general expenses
$10,000 changed to $118,411
Program service expenses (Part III)
$6,698,625 changed to $12,160

Listed only on the earlier return

  • DAWN PSARELLIS
  • FATHER PATRICK CARR
  • G ANTHONY MANGUM
  • TERRI NORTH

Listed only on the later return

  • ANTHONY MANGUN
  • DAWN HARVEY PSARELLIS

Listed under a different title

  • MICHAEL FORD: PRESDENT/DIR then BOARD MEMBER
  • PATRICIA PRECHTER: DIRECTOR then PRESIDENT

Totals

Total revenue
$66,864
Total expenses
$130,571
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$66,864
Investment income
$0
Other revenue
$0
Total assets, end of year
$7,406,844
Total liabilities, end of year
$7,365,356
Net assets or fund balances, end of year
$41,488
Program services expenses (Part IX)
$12,160
Management and general expenses
$118,411
Fundraising expenses
$0
Program service expenses (Part III)
$12,160

Program services were 9.3% 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: LEASE INCOME

    total $66,864 · related or exempt $66,864

Functional expenses

Part IX, the statement of functional expenses.

  • 11g · Fees: other

    total $118,411 · management and general $118,411

  • 22 · Depreciation, depletion and amortization

    total $11,094 · program services $11,094

  • 23 · Insurance

    total $1,066 · program services $1,066

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $52,154 · end of year $868,233

  • 4 · Accounts receivable

    end of year $70,460

  • 9 · Prepaid expenses and deferred charges

    beginning of year $73,472 · end of year $119,047

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

    $6,360,150

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

    $11,046

  • 10c · Land, buildings and equipment, net

    beginning of year $12,591,855 · end of year $6,349,104

  • 15 · Other assets

    beginning of year $731,099 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,986 · end of year $6,395

  • 23 · Secured mortgages and notes payable

    beginning of year $10,534,245 · end of year $7,218,388

  • 25 · Other liabilities

    beginning of year $0 · end of year $140,573

  • 27 · Net assets without donor restrictions

    beginning of year $2,912,349 · end of year $41,488

Mission and programs · 2022

Mission

TO DEVELOP AND MAINTAIN A STATE-OF-THE-ART LONG-TERM CARE FACILITY EMPHASIZING CULTURE CHANGE FOR LEASE TO PARENT COMPANY.

Activities or mission (Part I)

TO DEVELOP AND MAINTAIN A STATE-OF-THE-ART LONG-TERM CARE FACILITY.

  • DEVELOPED AND MAINTAINED A STATE-OF-THE-ART LONG-TERM CARE FACILITY EMPHASIZING CULTURE CHANGE FOR LEASE TO PARENT COMPANY.

    Expenses $12,160 · Revenue $66,864

As filed on the 2022 return.

Listed in Part VII

  • PATRICIA PRECHTER

    PRESIDENT

    Total calculated
    $84,001
    From this org
    $0
    From related orgs
    $84,001
    Other
    $0
    Hours/week
    1 + 40 related

  • ANTHONY MANGUN

    TREASURER

    Total calculated
    $60,000
    From this org
    $0
    From related orgs
    $60,000
    Other
    $0
    Hours/week
    1 + 11 related

  • MICHAEL FORD

    BOARD MEMBER

    Total calculated
    $36,000
    From this org
    $0
    From related orgs
    $36,000
    Other
    $0
    Hours/week
    1 + 12 related

  • DAWN HARVEY PSARELLIS

    SECRETARY

    Total calculated
    $404,696
    From this org
    $0
    From related orgs
    $385,471
    Other
    $19,225
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $261,096 related
    Bonus
    $0 + $124,375 related
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $19,225 related
    Filer's total
    $0 + $404,696 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

  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 7 · Other non-fixed payments

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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3
SUBSCRIBE TO ANNUAL COMPENSATION SURVEYS BY HCCS. COMPENSATION IS REVIEWED ANNUALLY BY OUTSIDE DIRECTORS IN COMPARISON WITH INDUSTRY AVERAGES REPORTED BY HCCS.
PART I, LINE 7
MERIT BONUSES AT THE DISCRETION OF THE BOARD OF DIRECTORS.

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.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

Provenance

Return type
form_990
Tax year
2022
Filed
14 May 2024
IRS schema version
2022v5.0
Source object
202411359349303291

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