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Nonprofiteer
← PROVIDENT RESOURCES GROUP INC

Form 990 for tax year 2023

Filed by PROVIDENT RESOURCES GROUP INC.

Totals

Total revenue
$321,606,429
Total expenses
$354,511,969
Contributions and grants received
$13,558,462
Grants paid
$31,883
Program services expenses (Part IX)
$340,863,849
Management and general expenses
$13,648,120
Fundraising expenses
$0
Program service expenses (Part III)
$340,863,849

Program services were 96.2% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • CHRISTOPHER HICKS

    PRESIDENT

    Total calculated
    $840,425
    From this org
    $794,040
    From related orgs
    $0
    Other
    $46,385
    Hours/week
    35 + 5 related

    Schedule J breakdown matched by us

    Base
    $348,101
    Bonus
    $445,000
    Other
    $939
    Deferred
    $11,312
    Nontaxable benefits
    $35,073
    Filer's total
    $840,425

  • STEVE HICKS

    CHAIRMAN AND CHIEF EXECUTIVE OFFICER

    Total calculated
    $3,499,102
    From this org
    $3,471,707
    From related orgs
    $0
    Other
    $27,395
    Hours/week
    34 + 6 related

    Schedule J breakdown matched by us

    Base
    $547,802
    Bonus
    $330,000
    Other
    $2,593,905
    Deferred
    $13,200
    Nontaxable benefits
    $14,195
    Filer's total
    $3,499,102

  • NANCY H HENZE

    DIRECTOR

    Total calculated
    $24,000
    From this org
    $24,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1 + 2 related

  • THOMAS E GREENE III

    DIRECTOR

    Total calculated
    $24,000
    From this org
    $24,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • THOMAS H GREEN III

    DIRECTOR

    Total calculated
    $24,000
    From this org
    $24,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • WALTER BUMPHUS PH D

    DIRECTOR

    Total calculated
    $24,000
    From this org
    $24,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1 + 2 related

  • DAVID GRAND JR

    CHIEF OPERATING OFFICER

    Total calculated
    $500,839
    From this org
    $464,590
    From related orgs
    $0
    Other
    $36,249
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $272,838
    Bonus
    $165,000
    Other
    $26,752
    Deferred
    $13,200
    Nontaxable benefits
    $23,049
    Filer's total
    $500,839

  • DONOVAN O HICKS

    CHIEF LEGAL OFFICER

    Total calculated
    $642,110
    From this org
    $604,250
    From related orgs
    $0
    Other
    $37,860
    Hours/week
    34 + 6 related

    Schedule J breakdown matched by us

    Base
    $347,879
    Bonus
    $210,000
    Other
    $46,371
    Deferred
    $13,200
    Nontaxable benefits
    $24,660
    Filer's total
    $642,110

  • JAMEY CORKERN

    AVP ADMINISTRATION

    Total calculated
    $238,919
    From this org
    $193,461
    From related orgs
    $0
    Other
    $45,458
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $126,769
    Bonus
    $55,000
    Other
    $11,692
    Deferred
    $12,566
    Nontaxable benefits
    $32,892
    Filer's total
    $238,919

  • MARLA P SCANNICCHIO

    CHIEF FINANCIAL OFFICER

    Total calculated
    $551,270
    From this org
    $502,147
    From related orgs
    $0
    Other
    $49,123
    Hours/week
    38 + 2 related

    Schedule J breakdown matched by us

    Base
    $296,742
    Bonus
    $180,000
    Other
    $25,405
    Deferred
    $13,200
    Nontaxable benefits
    $35,923
    Filer's total
    $551,270

  • PAMELA FORESTIER

    CHIEF ACCOUNTING OFFICER

    Total calculated
    $422,337
    From this org
    $407,137
    From related orgs
    $0
    Other
    $15,200
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $249,077
    Bonus
    $150,000
    Other
    $8,060
    Deferred
    $13,200
    Nontaxable benefits
    $2,000
    Filer's total
    $422,337

  • RHEBA W ROBERTSON

    ASSISTANT SECRETARY

    Total calculated
    $55,678
    From this org
    $55,678
    From related orgs
    $0
    Other
    $0
    Hours/week
    23 + 1 related

  • ALAN ADDISON

    ACCOUNTING MANAGER

    Total calculated
    $130,602
    From this org
    $112,991
    From related orgs
    $0
    Other
    $17,611
    Hours/week
    40

  • JAIMEE BOYD

    GENERAL COUNSEL

    Total calculated
    $117,995
    From this org
    $110,187
    From related orgs
    $0
    Other
    $7,808
    Hours/week
    40

  • PHUONG NGUYEN

    CONTROLLER

    Total calculated
    $233,697
    From this org
    $213,723
    From related orgs
    $0
    Other
    $19,974
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $152,812
    Bonus
    $55,000
    Other
    $5,911
    Deferred
    $8,581
    Nontaxable benefits
    $11,393
    Filer's total
    $233,697

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 — 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

  • 1a · First-class or charter travel
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 7 · Other non-fixed payments

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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Schedule J, Part I, Line 1a First-class or charter travel
The board of directors have authorized the Chairman/CEO and President to purchase first class airfare based on their judgment and in their discretion, after reviewing and comparing costs for the first class airfare with business and main cabin airfare, and taking into consideration the time and distance of the flight.
Schedule J, Part I, Line 7 Non-fixed payments
During the year, the organization/Company paid one-time bonuses to certain employees in recognition of their performance. The bonuses were awarded based on criteria established and reviewed by the independent compensation committee, which is comprised of independent board members of the organization and not based on any individuals discretion.
Schedule J, Part II, Column (B)(iii) OTHER REPORTABLE COMPENSATION
PROVIDENT RESOURCES GROUP INC.'S PAID TIME OFF POLICY REQUIRES Provident TO PAYout ACCRUED PTO OVER A SPECIFIC LIMIT (WHICH IS DETERMINED ANNUALLY), for all employees.
Schedule J, Part II, Column (B)(iii) OTHER REPORTABLE COMPENSATION
FOR THE FIRST 20 YEARS OF PRG'S OPERATIONS, THE CEO'S SALARY WAS BELOW INDUSTRY AVERAGES. AS THE COMPANY GREW, AN AT-RISK NONQUALIFIED DEFERRED COMPENSATION PROGRAM WAS ESTABLISHED BY PRG'S INDEPENDENT EXECUTIVE COMPENSATION COMMITTEE WITHIN ITS INDEPENDENT BOARD OF DIRECTORS. THIS PROGRAM AWARDED DEFERRED COMPENSATION BETWEEN OPERATING YEARS 1999 AND 2014, ALL OF WHICH REMAINED SUBJECT TO A SUBSTANTIAL RISK OF FORFEITURE WITH A VESTING DATE OF DECEMBER 31, 2030, SUBJECT TO THE CEO'S CONTINUED SERVICE FOR PRG. UPON VESTING, THE DEFERRED COMPENSATION MUST BE PAID PURSUANT TO THE SHORT-TERM DEFERRAL TIMING RULES BY MARCH 15TH OF THE FOLLOWNG CALENDAR YEAR. IN 2023, THE EXECUTIVE COMPENSATION COMMITTEE ELECTED TO ACCELERATE VESTING OF APPROXIMATELY $2.5 MILLION IN DEFERRED COMPENSATION TO BE PAID TO STEVE HICKS, PRG'S FOUNDER AND CEO, IN A ONE-TIME PAYMENT WITHIN THE SHORT-TERM DEFERRAL PERIOD. THE CEO'S CURRENT BASE ANNUAL SALARY HAS NOT CHANGED AND REMAINS IN LINE WITH PRIOR YEARS.

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
3 February 2025
IRS schema version
2023v6.0
Source object
202540349349301664

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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