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Nonprofiteer
← FSK LAND CORPORATION

Form 990 for tax year 2022

Filed by FSK LAND CORPORATION.

Totals

Total revenue
$19,059,972
Total expenses
$15,910,908
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$19,052,755
Investment income
$7,217
Other revenue
$0
Total assets, end of year
$78,147,715
Total liabilities, end of year
$37,110,034
Net assets or fund balances, end of year
$41,037,681
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
$0

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 $18,106,215 · related or exempt $18,106,215

  • 2b · Program service revenue: LANDSCAPING INCOME

    total $946,540 · related or exempt $946,540

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $7,217 · excluded $7,217

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $627,737

  • 11b · Fees: legal

    total $14,198

  • 11c · Fees: accounting

    total $180,618

  • 11g · Fees: other

    total $2,055,126

  • 13 · Office expenses

    total $54,873

  • 16 · Occupancy

    total $3,610,772

  • 20 · Interest

    total $1,384,287

  • 22 · Depreciation, depletion and amortization

    total $2,853,898

  • 24a · Other expenses: REPAIRS/MAINTENANCE

    total $1,882,856

  • 24b · Other expenses: SECURITY

    total $1,433,471

  • 24c · Other expenses: HOUSEKEEPING

    total $1,194,854

  • 24d · Other expenses: GROUNDS EXPENSE/SNOW RE

    total $441,453

  • 24e · All other expenses

    total $176,765

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $25,881,376 · end of year $29,194,772

  • 4 · Accounts receivable

    beginning of year $0 · end of year $96,237

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $512,649 · end of year $471,022

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,325,062 · end of year $3,202,691

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

    $102,870,204

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

    $58,130,207

  • 10c · Land, buildings and equipment, net

    beginning of year $45,113,221 · end of year $44,739,997

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $705,298 · end of year $442,996

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,349,147 · end of year $680,058

  • 19 · Deferred revenue

    beginning of year $229,055 · end of year $970,221

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $4,045,131 · end of year $3,891,359

  • 25 · Other liabilities

    beginning of year $31,821,350 · end of year $31,568,396

  • 27 · Net assets without donor restrictions

    beginning of year $38,092,923 · end of year $41,037,681

Mission and programs · 2022

Mission

NONE

Activities or mission (Part I)

ORGANIZATION HOLDS TITLE TO PROPERTY AND REMITS NET INCOME TO ITS MEMBERS.

  • FSK LAND CORPORATION IS ORGANIZED EXCLUSIVELY FOR THE PURPOSE OF ACQUIRING AND HOLDING TITLE TO REAL PROPERTY, COLLECTING INCOME FROM THAT PROPERTY, AND REMITTING THE ENTIRE AMOUNT OF INCOME (LESS EXPENSES) TO ITS MEMBERS, THE JOHNS HOPKINS UNIVERSITY (JHU) AND JOHNS HOPKINS HEALTH SYSTEM CORPORATION (JHHS). JHU AND JHHS ARE IRC SECTION 501(C)(3) ORGANIZATIONS.

As filed on the 2022 return.

Listed in Part VII

  • Kevin Sowers

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Jennifer Nickoles

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Johnnie Watson

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Laurent Heller

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Lisa Ishii

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Michael Larson

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Robert McLean

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Scott Jonas

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mitchell Bonanno

    PRESIDENT

    Total calculated
    $70,690
    From this org
    $57,582
    From related orgs
    $0
    Other
    $13,108
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    $44,407
    Bonus
    $13,175
    Other
    $0
    Deferred
    $11,223
    Nontaxable benefits
    $1,885
    Filer's total
    $70,690

  • Nicole Smith

    TREASURER

    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

The filer's explanations (Part III)

Schedule J, Part II COMPENSATION FROM AN UNRELATED ORGANIZATION OR INDIVIDUAL
DURING FY23 MITCH BONNANO WAS THE PRESIDENT OF FSK LAND CORPORATION (FSK) AND THE CHIEF REAL ESTATE OFFICER OF THE JOHNS HOPKINS UNIVERSITY (JHU), WHICH IS AN UNRELATED, SEPARATELY GOVERNED ORGANIZATION. IN FY23, MR. BONANNO DEVOTED 10% OF HIS EFFORTS TO FSK AND THEREFORE FSK REIMBURSED JHU FOR 10% OF MR. BONANNO'S TIME. THE COMPENSATION AND HOURS REPORTED FOR MR. BONNANO IN PART VII AND ON SCHEDULE REPRESENT 10% OF TOTAL COMPENSATION AND BENEFITS PAID TO MR. BONANNO BY JHU FOR CALENDAR YEAR 2022
Schedule J, Part II COMPENSATION FROM AN UNRELATED ORGANIZATION OR INDIVIDUAL
NAME - MITCHELL BONANNO, COMPENSATION FROM UNRELATED ORGANIZATION - 70690.000000, NAME OF UNRELATED ORGANIZATION - , TYPE OF COMPENSATION -

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.

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.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • JOHNS HOPKINS HEALTHCARE LLC

    MEDICAL SERVICES · MD

  • HOWARD COUNTY NEONATAL SERVICES LLC

    CLINICAL SERVICES · MD

  • JHMI UTILITIES LLC

    UTILITIES SERVICES TO MEMBERS · MD

  • JOHNS HOPKINS SURGERY CENTERS SERIES

    CLINICAL SERVICES · MD

  • 550 BROADWAY LIMITED PARTNERSHIP

    REAL ESTATE · MD

  • JOHNS HOPKINS MED INTL LLC

    INTERNATIONAL HEALTH CARE, EDUCATION · MD

  • JH BROADWAY ACQUIS & DEVELOP

    LAND HOLDING AND DEVELOPMENT · MD

  • JOHNS HOPKINS MEDICINE ALLIANCE FOR PATIENTS LLC

    MEDICAL SERVICES · MD

  • JH VENTURES LLC

    SERIES ACTIVITIES · DE

  • JOHNS HOPKINS HEALTH CARE AND SURGERY CENTER DEVELOPMENT LLC

    REAL ESTATE · MD

  • ASTHMA CENTER LP

    REAL ESTATE · MD

  • OPHTHALMOLOGY ASSOCIATES LLC

    MEDICAL SERVICES · MD

Related corporations and trusts

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

  • DOME CORPORATION

    C Corporation · REAL ESTATE SERVICES · MD

  • JH OUTPATIENT CENTER CONDOMINIUM INC

    C Corporation · CLINICAL SERVICES · MD

  • DOME MANAGEMENT SERVICES INC

    C Corporation · REAL ESTATE · MD

  • 550 BROADWAY INC

    C Corporation · REAL ESTATE · MD

  • BROADWAY SERVICES INC

    C Corporation · REAL ESTATE SERVICES · MD

Provenance

Return type
form_990
Tax year
2022
Filed
8 May 2024
IRS schema version
2022v5.0
Source object
202421299349303152

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