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← VALLEY OF THE SUN SCHOOL PROPERTIES ONE

Form 990 for tax year 2023

Filed by VALLEY OF THE SUN SCHOOL PROPERTIES ONE.

Totals

Total revenue
$88,981
Total expenses
$147,807
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$87,742
Investment income
$1,239
Other revenue
$0
Total assets, end of year
$635,610
Total liabilities, end of year
$579,078
Net assets or fund balances, end of year
$56,532
Program services expenses (Part IX)
$118,129
Management and general expenses
$29,678
Fundraising expenses
$0
Program service expenses (Part III)
$118,129

Program services were 79.9% 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 $65,578 · related or exempt $65,578 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: Government Rental Subsidies

    total $22,164 · related or exempt $22,164 · 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 $1,239 · related or exempt $1,239 · 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 $13,800 · program services $0 · management and general $13,800 · fundraising $0

  • 11c · Fees: accounting

    total $11,860 · program services $0 · management and general $11,860 · fundraising $0

  • 13 · Office expenses

    total $2,463 · program services $0 · management and general $2,463 · fundraising $0

  • 16 · Occupancy

    total $86,588 · program services $86,588

  • 22 · Depreciation, depletion and amortization

    total $31,541 · program services $31,541

  • 24a · Other expenses: other miscellaneous expense

    total $1,555 · program services $0 · management and general $1,555 · fundraising $0

  • 24e · All other expenses

    total $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $39,886 · end of year $17,845

  • 4 · Accounts receivable

    end of year $130

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,499 · end of year $2,633

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

    $1,238,598

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

    $681,997

  • 10c · Land, buildings and equipment, net

    beginning of year $588,142 · end of year $556,601

  • 15 · Other assets

    beginning of year $51,162 · end of year $58,401

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,343 · end of year $4,433

  • 19 · Deferred revenue

    end of year $528

  • 23 · Secured mortgages and notes payable

    beginning of year $206,188 · end of year $206,188

  • 25 · Other liabilities

    beginning of year $356,800 · end of year $367,929

  • 27 · Net assets without donor restrictions

    beginning of year $115,358 · end of year $56,532

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $0

Mission and programs · 2023

Mission

Provide housing for developmentally disabled adults

  • Provide housing for developmentally disabled adults

    Expenses $118,129 · Revenue $87,742

As filed on the 2023 return.

Listed in Part VII

  • Cletus Thiebeau

    Board Member

    Total calculated
    $309,683
    From this org
    $0
    From related orgs
    $291,168
    Other
    $18,515
    Hours/week
    2 + 38 related

    Schedule J breakdown matched by us

    Base
    $0 + $285,739 related
    Bonus
    $0 + $25,469 related
    Other
    $0 + $17,964 related
    Deferred
    $0 + $12,105 related
    Nontaxable benefits
    $0 + $4,406 related
    Filer's total
    $0 + $345,683 related

  • Donna Cordova

    Board Member

    Total calculated
    $130,642
    From this org
    $0
    From related orgs
    $124,858
    Other
    $5,784
    Hours/week
    2 + 38 related

    Schedule J breakdown matched by us

    Base
    $0 + $132,662 related
    Bonus
    $0 + $11,935 related
    Other
    $0
    Deferred
    $0 + $5,784 related
    Nontaxable benefits
    $0 + $2,876 related
    Filer's total
    $0 + $153,257 related

  • Jim Anderson

    Director

    Total calculated
    $64,991
    From this org
    $0
    From related orgs
    $54,717
    Other
    $10,274
    Hours/week
    5 + 35 related

  • 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
2023
Filed
25 April 2025
IRS schema version
2023v6.0
Source object
202521059349302072

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