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Nonprofiteer
← GRADY PONCE INC

Form 990 for tax year 2024

Filed by GRADY PONCE INC.

Totals

Total revenue
$2,397,000
Total expenses
$901,872
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$2,397,000
Investment income
$0
Other revenue
$0
Total assets, end of year
$102,572,385
Total liabilities, end of year
$59,530,969
Net assets or fund balances, end of year
$43,041,416
Program services expenses (Part IX)
$901,872
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$901,872

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: NMTC FAC LEASE INC

    total $2,397,000 · related or exempt $2,397,000

Functional expenses

Part IX, the statement of functional expenses.

  • 24a · Other expenses: NMTC INTEREST EXPENSE

    total $286,592 · program services $286,592

  • 24b · Other expenses: NMTC GROUND SUBLEASE

    total $261,552 · program services $261,552

  • 24c · Other expenses: NMTC FEES

    total $204,313 · program services $204,313

  • 24d · Other expenses: NMTC AMORTIZATION

    total $149,415 · program services $149,415

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $29,961 · end of year $43,002

  • 4 · Accounts receivable

    beginning of year $2,350,000 · end of year $4,747,000

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

    $41,100,577

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $40,375,822 · end of year $41,100,577

  • 15 · Other assets

    beginning of year $36,639,540 · end of year $56,681,806

  • 17 · Accounts payable and accrued expenses

    beginning of year $573,317 · end of year $780,296

  • 25 · Other liabilities

    beginning of year $38,000,472 · end of year $58,750,673

  • 27 · Net assets without donor restrictions

    beginning of year $40,821,534 · end of year $43,041,416

Mission and programs · 2024

Mission

TO HOLD TITLE TO PROPERTY, COLLECT INCOME, TO DISTRIBUTE INCOME, LESS EXPENSES TO GRADY MEMORIAL HOSPITAL CORPORATION, AN ORGANIZATION AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, AND TO PERFORM ALL OTHER ACTS NECESSARY OR INCIDENTAL TO THE ABOVE AND TO DO WHATEVER IS DEEMED NECESSARY, USEFUL, ADVISABLE, OR CONDUCTIVE, DIRECTLY OR INDIRECTLY, AS DETERMINED BY THE BOARD OF DIRECTORS, TO CARRY OUT THE PURPOSE OF THE CORPORATION, AS SET FORTH IN THESE ARTICLES OF INCORPORATION, INCLUDING THE EXERCISE OF ALL OTHER POWER AND AUTHORITY ENJOYED BY CORPORATION GENERALLY BY VIRTUE OF THE PROVISIONS OF THE GEORGIA NONPROFIT CORPORATION CODE (WITHIN AND SUBJECT TO THE LIMITATIONS OF SECTION 501(C)(2) OF THE INTERNAL REVENUE CODE).

Activities or mission (Part I)

TO HOLD TITLE TO PROPERTY, COLLECT INCOME AND DISTRIBUTE TO GRADY MEMORIAL HOSPITAL CORPORATION, A 501(C)(3) ORGANIZATION.

  • ON JANUARY 13, 2022, GRADY MEMORIAL HOSPITAL CORPORATION (GMHC) ENTERED INTO A TRANSACTION WITH A BANK AND CERTAIN LENDERS TO OBTAIN FINANCING THROUGH THE NEW MARKETS TAX CREDIT (NMTC) PROGRAM SPONSORED BY THE U.S. DEPARTMENT OF TREASURY. THE NMTC PROGRAM PERMITS CERTAIN TAXPAYERS TO RECEIVE A CREDIT AGAINST FEDERAL INCOME TAXES FOR MAKING QUALIFIED EQUITY INVESTMENTS (QEIS) IN COMMUNITY DEVELOPMENT ENTITIES (CDES). THROUGH THE TRANSACTION, GRADY PONCE, INC., A WHOLLY-OWNED SUBSIDIARY OF GMHC, WAS FORMED FOR THE PURPOSE OF EFFECTING GMHC'S PARTICIPATION IN THE NMTC PROGRAM. THE U.S. TAX CREDIT PROVIDED TO THE INVESTOR TOTALS 39 PERCENT OF THE INITIAL VALUE OF THE QEI AND IS CLAIMED OVER A SEVEN-YEAR CREDIT ALLOWANCE PERIOD.

    Expenses $901,872 · Revenue $2,397,000

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • JOHN HAUPERT

    DIRECTOR & PRESIDENT

    Total calculated
    $2,698,520
    From this org
    $0
    From related orgs
    $2,659,735
    Other
    $38,785
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,614,644 related
    Bonus
    $0 + $1,015,091 related
    Other
    $0 + $30,000 related
    Deferred
    $0 + $13,200 related
    Nontaxable benefits
    $0 + $25,585 related
    Filer's total
    $0 + $2,698,520 related

  • ANTHONY SAUL

    DIRECTOR & CFO

    Total calculated
    $1,131,570
    From this org
    $0
    From related orgs
    $1,086,834
    Other
    $44,736
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $813,034 related
    Bonus
    $0 + $250,800 related
    Other
    $0 + $23,000 related
    Deferred
    $0 + $13,200 related
    Nontaxable benefits
    $0 + $31,536 related
    Filer's total
    $0 + $1,131,570 related

  • TIMOTHY JEFFERSON

    DIRECTOR & VP & SECRETARY

    Total calculated
    $892,360
    From this org
    $0
    From related orgs
    $845,135
    Other
    $47,225
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $616,737 related
    Bonus
    $0 + $204,972 related
    Other
    $0 + $23,426 related
    Deferred
    $0 + $13,200 related
    Nontaxable benefits
    $0 + $34,025 related
    Filer's total
    $0 + $892,360 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

  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

PART I, LINE 4B
SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLANS THE EXECUTIVE STAFF OF GRADY MEMORIAL HOSPITAL CORPORATION, THE TAXPAYER'S SOLE MEMBER, PARTICIPATE IN A 457F PLAN. NONE OF THE OFFICERS LISTED ON SCHEDULE J, PART II RECEIVED A PAYMENT FROM THE PLAN IN 2024.

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 corporations and trusts

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

  • RELIANT EMERGENCY SPECIALTIES

    C · FLEET MAINTEN · GA

    Directly controlled by GMHC

Provenance

Return type
form_990
Tax year
2024
Filed
10 November 2025
IRS schema version
2024v5.2
Source object
202533159349305718

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