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Nonprofiteer
← WARC PROPERTIES INC

Form 990 for tax year 2024

Filed by WARC PROPERTIES INC.

Totals

Total revenue
$94,672
Total expenses
$53,066
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$51,960
Investment income
$42,712
Other revenue
$0
Total assets, end of year
$2,590,850
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$2,590,850
Program services expenses (Part IX)
$53,066
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$53,066

Program services were 100.0% 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: RENTAL INCOME

    total $51,960 · related or exempt $51,960 · 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 $42,712 · related or exempt $0 · unrelated business $0 · excluded $42,712

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 8c · Net income from fundraising events

    total $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.

  • 11g · Fees: other

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

  • 16 · Occupancy

    total $26,918 · program services $26,918 · management and general $0 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $26,148 · program services $26,148 · management and general $0 · fundraising $0

  • 24e · All other expenses

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

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $189,838 · end of year $244,874

  • 4 · Accounts receivable

    beginning of year $9,820 · end of year $12,733

  • 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

    $4,886,015

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

    $3,952,764

  • 10c · Land, buildings and equipment, net

    beginning of year $959,399 · end of year $933,251

  • 11 · Investments: publicly traded securities

    beginning of year $1,240,161 · end of year $1,399,992

  • 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 $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $0 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $2,399,218 · end of year $2,590,850

Mission and programs · 2024

Mission

THE CORPORATION IS ORGANIZED AND OPERATED EXCLUSIVELY FOR CHARITABLE PURPOSES WHICH ARE TO PROVIDE BOTH REAL AND PERSONAL PROPERTY TO BE LEASED AT NO PROFIT TO NOT FOR PROFIT CORPORATIONS WHICH CURRENTLY OR MAY IN THE FUTURE PROVIDE SERVICES IN THE NATURE OF RESIDENTIAL FACILITIES, DAY PROGRAMS, EMPLOYMENT PROGRAMS, EDUCATIONAL PROGRAMS, OR OTHER PROGRAMS FOR INDIVIDUALS WITH INTELLECTUAL OR DEVELOPMENTAL DISABILITIES.

Activities or mission (Part I)

WARC PROPERTIES, INC. IS A NOT-FOR-PROFIT ORGANIZATION FORMED TO ACQUIRE AND MORTGAGE PROPERTY TO BE LEASED AT NO PROFIT TO AFFILIATES OF THE ORGANIZATION.

  • LEASING OF ACQUIRED PROPERTIES TO AFFILIATED NOT-FOR-PROFIT ORGANIZATIONS.

    Expenses $53,066 · Revenue $51,960

As filed on the 2024 return.

Listed in Part VII

  • Mark Glucksman

    TREASURER

    Total calculated
    $0
    Hours/week
    0.2 + 0.8 related

  • Tibisay Guzman

    EXECUTIVE DIRECTOR/CEO

    Total calculated
    $416,847
    From this org
    $0
    From related orgs
    $337,952
    Other
    $78,895
    Hours/week
    0.8 + 35 related

    Schedule J breakdown matched by us

    Base
    $0 + $309,955 related
    Bonus
    $0 + $27,997 related
    Other
    $0
    Deferred
    $0 + $50,318 related
    Nontaxable benefits
    $0 + $28,577 related
    Filer's total
    $0 + $416,847 related

  • Anne Majsak

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2

  • John Barrett

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2 + 0.8 related

  • Robert Picone

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2 + 0.8 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
  • 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

The filer's explanations (Part III)

Schedule J, Part I, Line 3 Arrangement used to establish the top management official's compensation
NYSARC INC - WESTCHESTER COUNTY CHAPTER, AN AFFILIATE OF THE REPORTING ORGANIZATION PAID COMPENSATION TO THE REPORTING ORGANIZATION'S TOP MANAGEMENT OFFICIAL. NYSARC INC WESTCHESTER COUNTY CHAPTER HAS ESTABLISHED THE COMPENSATION OF THE TOP MANAGEMENT OFFICIAL USING COMPENSATION SURVEYS OR STUDIES, FORM 990 OF OTHER ORGANIZATIONS, COMPENSATION COMMITTEE, INDEPENDENT COMPENSATION CONSULTANT AND APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE.

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
10 November 2025
IRS schema version
2024v5.1
Source object
202513149349303311

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