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Nonprofiteer
← SHELTERING PALMS FOUNDATION INC

Form 990 for tax year 2022

Filed by SHELTERING PALMS FOUNDATION INC.

Totals

Total revenue
$48,584
Total expenses
$884,554
Contributions and grants received
$0
Grants paid
$96,650
Program service revenue
$80,344
Investment income
-$31,760
Other revenue
$0
Total assets, end of year
$8,649,930
Total liabilities, end of year
$222
Net assets or fund balances, end of year
$8,649,708
Program services expenses (Part IX)
$827,162
Management and general expenses
$57,392
Fundraising expenses
$0
Program service expenses (Part III)
$827,162

Program services were 93.5% 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 $80,344 · related or exempt $80,344

  • 3 · Investment income

    total $39,843 · related or exempt $39,843

  • 7a · Gross sales of assets other than inventory

    securities $1,040,173 · other assets $7,840

  • 7b · Less cost or other basis and sales expenses

    securities $1,119,616

  • 7c · Gain or loss

    securities -$79,443 · other assets $7,840

  • 7d · Net gain or loss

    total -$71,603 · related or exempt -$71,603

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $96,650 · program services $96,650

  • 5 · Compensation of officers, directors and key employees

    total $415,027 · program services $415,027

  • 7 · Other salaries and wages

    total $8,651 · program services $8,651

  • 9 · Other employee benefits

    total $22,545 · program services $22,545

  • 10 · Payroll taxes

    total $109,312 · program services $109,312

  • 11a · Fees: management

    total $25,000 · management and general $25,000

  • 11b · Fees: legal

    total $4,592 · management and general $4,592

  • 11c · Fees: accounting

    total $27,800 · management and general $27,800

  • 13 · Office expenses

    total $115,955 · program services $115,955

  • 16 · Occupancy

    total $1,790 · program services $1,790

  • 17 · Travel

    total $5,742 · program services $5,742

  • 22 · Depreciation, depletion and amortization

    total $1,015 · program services $1,015

  • 23 · Insurance

    total $13,601 · program services $13,601

  • 24a · Other expenses: OPERATING & MAINTENANCE

    total $25,976 · program services $25,976

  • 24b · Other expenses: TAXES, LICENSES, ETC

    total $10,761 · program services $10,761

  • 24c · Other expenses: POSTAGE AND SHIPPING

    total $137 · program services $137

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,268,105 · end of year $156,010

  • 4 · Accounts receivable

    beginning of year $130,900 · end of year $141

  • 5 · Loans and receivables from officers and key people

    beginning of year $26,351 · end of year $26,351

  • 7 · Other notes and loans receivable

    beginning of year $1,680,000 · end of year $1,680,000

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

    $59,830

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

    $57,968

  • 10c · Land, buildings and equipment, net

    beginning of year $2,877 · end of year $1,862

  • 11 · Investments: publicly traded securities

    beginning of year $4,298,738 · end of year $2,931,794

  • 12 · Investments: other securities

    beginning of year $950,147 · end of year $1,805,636

  • 15 · Other assets

    beginning of year $260,375 · end of year $2,048,136

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,031 · end of year $222

  • 27 · Net assets without donor restrictions

    beginning of year $10,616,462 · end of year $8,649,708

Mission and programs · 2022

Mission

PROVIDE HOUSING TO LOW AND MODERATE INCOME PERSONS AND FAMILIES

  • OPERATED AND LEASED APARTMENT UNITS TO LOW AND MODERATE INCOME PERSONS AND FAMILIES AT APARTMENT COMPLEXES IN THE UNITED STATES.

    Expenses $827,162 · Grants $96,650 · Revenue $80,344

As filed on the 2022 return.

Listed in Part VII

  • Anthony J Flaim

    DIRECTOR

    Total calculated
    $252,527
    From this org
    $252,527
    From related orgs
    $0
    Other
    $0
    Hours/week
    20

    Schedule J breakdown matched by us

    Base
    $252,527
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $252,527

  • Harvey J Polly

    PRESIDENT

    Total calculated
    $125,000
    From this org
    $125,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Theresa Flaim Polly

    DIRECTOR

    Total calculated
    $37,500
    From this org
    $37,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Jeffrey Polly

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Judith S Polly

    DIRECTOR

    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

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • SHELTERING PALMS-HEATHER GLENN LLC

    HOUSING · FL · income $80,344

    Directly controlled by FILING ORG

  • SHELTERING PALMS-BOCA PROPERTIES

    HOUSING · FL · assets $13,810

    Directly controlled by FILING ORG

Provenance

Return type
form_990
Tax year
2022
Filed
3 August 2023
IRS schema version
2022v5.0
Source object
202312209349300911

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