Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1d · Related organizations

  $11,373,790

• 1e · Government grants (contributions)

  $188,148

• 2a · Program service revenue: Facility Services

  total $176,966,256 · related or exempt $176,966,256

• 2b · Program service revenue: Program Fees

  total $3,492,769 · related or exempt $3,492,769

• 2c · Program service revenue: Other

  total $82,254 · related or exempt $82,254

• 3 · Investment income

  total $37 · excluded $37

• 7a · Gross sales of assets other than inventory

  other assets $147,237

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

  other assets $122,887

• 7c · Gain or loss

  other assets $24,350

• 7d · Net gain or loss

  total $24,350 · excluded $24,350

• 10a · Gross sales of inventory

  $35,707,528

• 10b · Cost of goods sold

  $13,912,399

• 10c · Net income from sales of inventory

  total $21,795,129 · related or exempt $21,795,129

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $352,679 · program services $352,679

• 7 · Other salaries and wages

  total $82,979,200 · program services $82,979,200

• 8 · Pension plan contributions

  total $579,304 · program services $579,304

• 9 · Other employee benefits

  total $11,303,923 · program services $11,303,923

• 10 · Payroll taxes

  total $6,733,982 · program services $6,733,982

• 11a · Fees: management

  total $23,567,852 · program services $3,189,192 · management and general $20,378,660

• 11c · Fees: accounting

  total $27,265 · program services $10,465 · management and general $16,800

• 11g · Fees: other

  total $55,371,797 · program services $55,371,797

• 12 · Advertising and promotion

  total $146,073 · program services $146,073

• 13 · Office expenses

  total $2,184,623 · program services $2,184,623

• 14 · Information technology

  total $93,210 · program services $93,210

• 16 · Occupancy

  total $4,786,273 · program services $4,786,273

• 17 · Travel

  total $428,134 · program services $428,134

• 19 · Conferences, conventions and meetings

  total $45,768 · program services $45,768

• 20 · Interest

  total $253,892 · program services $152,335 · management and general $101,557

• 22 · Depreciation, depletion and amortization

  total $2,211,865 · program services $2,121,746 · management and general $90,119

• 23 · Insurance

  total $323,384 · program services $323,384

• 24a · Other expenses: Direct Materials

  total $6,459,851 · program services $6,459,851

• 24b · Other expenses: Workers Compensation

  total $4,049,409 · program services $4,049,409

• 24c · Other expenses: Vehicle Expense

  total $2,430,068 · program services $2,430,068

• 24d · Other expenses: Emp Recruit & Training

  total $932,459 · program services $932,459

• 24e · All other expenses

  total $90,051 · program services $89,020 · management and general $1,031

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $1,366 · end of year $917

• 4 · Accounts receivable

  beginning of year $43,994,849 · end of year $36,189,656

• 8 · Inventories for sale or use

  beginning of year $8,960,280 · end of year $8,024,121

• 9 · Prepaid expenses and deferred charges

  beginning of year $314,125 · end of year $465,365

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

  $26,861,661

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

  $13,023,970

• 10c · Land, buildings and equipment, net

  beginning of year $14,941,679 · end of year $13,837,691

• 14 · Intangible assets

  beginning of year $218,977 · end of year $200,729

• 15 · Other assets

  beginning of year $6,799,426 · end of year $8,999,170

• 17 · Accounts payable and accrued expenses

  beginning of year $13,613,864 · end of year $13,260,767

• 19 · Deferred revenue

  beginning of year $19,697 · end of year $0

• 25 · Other liabilities

  beginning of year $72,946,667 · end of year $57,234,737

• 27 · Net assets without donor restrictions

  beginning of year -$11,349,526 · end of year -$2,777,855

The filer's explanations (Part III)

Part I, Line 1a

In 2023, as part of the relocation offer package, a total of $11,165 was approved and disbursed to the SVP of Manufacturing, Logistics and Engineering and Project Services to cover temporary housing and travel expenses for him and his companion(s). Tax gross-up payments were also incurred for the SVP of Manufacturing, Logistics and Engineering and Project Services. These benefits were included in taxable income. The company has also incurred business related expenses on a periodic basis for First Class travel for the SVP of Manufacturing, Logistics, and Engineering and Project Services. This was not included in taxable income.

Part I, Line 3

The President/CEO of the organization is an employee of PRIDE Industries. The Board's Compensation Committee retains the ultimate authority over all elements of compensation to ensure that the organizational purposes are appropriately serviced. The Board's Compensation Committee uses credible data sources, third-party compensation consultant review and an objective "arms-length" decision-making process, ensuring the integrity of the executive programs and consistency with the organization's overall mission.

Part I, Lines 4a-b

Casey Blake received a one-time compensation payment (the contents of which are subject to a confidentiality clause) of $170,400, which is included on Schedule J, Part II, Column B(iii). Key executives participate in a 457(f) retirement plan. Plan eligibility is determined upon approval by the Board of Directors of PRIDE Industries. During the calendar year ended December 31, 2023, contributions and distributions for the following key executives are as follows: Jeffery Dern - President/CEO: Contributions: $36,500 Distributions: None Casey Blake - Chief Operations Officer (Termed 02/2023): Contributions: None Distributions: $37,884 Charles Sharp - Chief Financial Officer: Contributions: $20,000 Distributions: None The President/CEO participates in a nonqualified deferred compensation trust as provided for in his employment agreement approved by the Board of Directors. Contributions to the trust are made annually, each December, in an amount equal to 7.5% of the President/CEO's base salary. The trust is distributable upon the earlier of the President/CEO reaching age 65 or has a qualifying termination event. Certain forfeiture provisions exist in the agreement. During the Calendar year ended December 31, 2023, a contribution of $39,750 was made. In 2021, the President/CEO commenced participation in a long-term incentive compensation program. The Board's Compensation Committee annually approves incentive amounts ranging from 0% to 7.5% of the President/CEO's base salary, based on both individual and Company performance. These approved amounts are accrued each year and paid out in a lump sum every five years, contingent upon continued employment. For the Calendar year ended December 31, 2023, the Compensation Committee approved an accrual of $79,500, including a retroactive accrual for the year ended December 31, 2022.

Part II

The compensation reflected in this section represents the Form W-2 calendar year taxable income for these individuals. The compensation is paid by PRIDE Industries, as the employer of record.

Related corporations and trusts

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

• PRIDE Federal

  C · Building & landscape maintenance · CA