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Nonprofiteer
← PEACE RIVER CENTER PROPERTIES INC

Form 990 for tax year 2023

Filed by PEACE RIVER CENTER PROPERTIES INC.

Totals

Total revenue
$306,470
Total expenses
$221,455
Contributions and grants received
$51,958
Grants paid
$0
Program service revenue
$247,785
Investment income
$2
Other revenue
$6,725
Total assets, end of year
$360,272
Total liabilities, end of year
$209,188
Net assets or fund balances, end of year
$151,084
Program services expenses (Part IX)
$143,172
Management and general expenses
$78,283
Fundraising expenses
$0
Program service expenses (Part III)
$143,172

Program services were 64.7% 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.

  • 1e · Government grants (contributions)

    $51,958

  • 2a · Program service revenue: TENANT RENTAL INCOME

    total $247,785 · related or exempt $247,785

  • 3 · Investment income

    total $2 · excluded $2

  • 11a · Other revenue: CAPITAL COST RECOVERY

    total $6,725 · excluded $6,725

  • 11e · Other revenue, total

    $6,725

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $59,128 · program services $11,163 · management and general $47,965

  • 9 · Other employee benefits

    total $2,997 · management and general $2,997

  • 10 · Payroll taxes

    total $3,271 · program services $3,271

  • 11a · Fees: management

    total $13,498 · management and general $13,498

  • 11c · Fees: accounting

    total $7,614 · management and general $7,614

  • 11g · Fees: other

    total $18,923 · program services $18,923

  • 13 · Office expenses

    total $4,134 · management and general $4,134

  • 14 · Information technology

    total $981 · management and general $981

  • 16 · Occupancy

    total $48,782 · program services $47,688 · management and general $1,094

  • 20 · Interest

    total $19,035 · program services $19,035

  • 22 · Depreciation, depletion and amortization

    total $26,784 · program services $26,784

  • 23 · Insurance

    total $14,427 · program services $14,427

  • 24a · Other expenses: BAD DEBTS

    total $1,881 · program services $1,881

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,260 · end of year $15,208

  • 2 · Savings and temporary cash investments

    beginning of year $12,242 · end of year $19,467

  • 4 · Accounts receivable

    beginning of year $19,123 · end of year $9,386

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,087 · end of year $1,075

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

    $962,812

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

    $652,816

  • 10c · Land, buildings and equipment, net

    beginning of year $271,556 · end of year $309,996

  • 15 · Other assets

    beginning of year $6,234 · end of year $5,140

  • 17 · Accounts payable and accrued expenses

    beginning of year $13,040 · end of year $10,448

  • 19 · Deferred revenue

    beginning of year $1,962 · end of year $1,709

  • 23 · Secured mortgages and notes payable

    beginning of year $226,843 · end of year $192,811

  • 25 · Other liabilities

    beginning of year $4,588 · end of year $4,220

  • 27 · Net assets without donor restrictions

    beginning of year $66,069 · end of year $151,084

Mission and programs · 2023

Mission

THE ORGANIZATION PROVIDES LOW INCOME HOUSING AND A GROUP HOME FOR ADULTS WITH MENTAL ILLNESS IN FLORIDA'S JUDICIAL CIRCUIT 10.

Activities or mission (Part I)

PROVIDES LOW INCOME HOUSING AND A GROUP HOME FOR ADULTS WITH MENTAL ILLNESS

  • PEACE RIVER CENTER PROPERTIES, INC. PROVIDES LOW INCOME HOUSING AT AN APARTMENT COMPLEX OF 11 UNITS AND A GROUP HOME OF 8 UNITS UNDER SECTION 8 OF THE NATIONAL HOUSING ACT. THIS PROJECT IS OPERATED SUBJECT TO A SECTION 8 HOUSING ASSISTANCE PAYMENTS (HAP) CONTRACT WITH HUD. A SIGNIFICANT PORTION OF THE PROPERTIES' RENTAL INCOME IS RECEIVED FROM HUD. SUCH PROJECTS ARE REGULATED BY THE UNITED STATES DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD) AS TO RENT CHARGES, OPERATING METHODS AND OPERATING EXPENDITURES.

    Expenses $143,172 · Revenue $247,785

As filed on the 2023 return.

Listed in Part VII

  • David Tournade

    SECRETARY

    Total calculated
    $229,996
    From this org
    $0
    From related orgs
    $202,661
    Other
    $27,335
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $186,631 related
    Bonus
    $0 + $15,000 related
    Other
    $0 + $1,030 related
    Deferred
    $0 + $6,049 related
    Nontaxable benefits
    $0 + $21,286 related
    Filer's total
    $0 + $229,996 related

  • Bennie Allred

    CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Stanley B Reed

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Candace Barnes

    DIRECTOR

    Total calculated
    $185,145
    From this org
    $0
    From related orgs
    $169,280
    Other
    $15,865
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $154,173 related
    Bonus
    $0 + $15,000 related
    Other
    $0 + $107 related
    Deferred
    $0 + $5,075 related
    Nontaxable benefits
    $0 + $10,790 related
    Filer's total
    $0 + $185,145 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

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
2023
Filed
9 March 2025
IRS schema version
2023v6.0
Source object
202540719349300029

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