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Nonprofiteer
← WISE OWL PROPERTIES INC

Form 990 for tax year 2024

Filed by WISE OWL PROPERTIES INC.

Totals

Total revenue
$135,000
Total expenses
$194,469
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$135,000
Investment income
$0
Other revenue
$0
Total assets, end of year
$940,458
Total liabilities, end of year
$844,435
Net assets or fund balances, end of year
$96,023
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

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 $135,000 · related or exempt $135,000

Functional expenses

Part IX, the statement of functional expenses.

  • 11c · Fees: accounting

    total $1,165

  • 13 · Office expenses

    total $9,131

  • 16 · Occupancy

    total $61,547

  • 17 · Travel

    total $335

  • 20 · Interest

    total $9,630

  • 22 · Depreciation, depletion and amortization

    total $39,808

  • 23 · Insurance

    total $14,557

  • 24a · Other expenses: LEASED EMPLOYEES

    total $52,157

  • 24b · Other expenses: ADMINISTRATIVE SERVICES

    total $6,139

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $161,659 · end of year $102,309

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,579 · end of year $2,751

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

    $1,279,339

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

    $443,941

  • 10c · Land, buildings and equipment, net

    beginning of year $875,207 · end of year $835,398

  • 17 · Accounts payable and accrued expenses

    beginning of year $15,302 · end of year $14,528

  • 23 · Secured mortgages and notes payable

    beginning of year $314,303 · end of year $264,181

  • 25 · Other liabilities

    beginning of year $554,348 · end of year $565,726

  • 27 · Net assets without donor restrictions

    beginning of year $155,492 · end of year $96,023

Mission and programs · 2024

Mission

WISE OWL PROPERTIES, INC. IS A CORPORATION OWNED TO HOLD TITLE TO PROPERTY ON BEHALF OF ELDERSOURCE INC.

  • RENTAL OF PROPERTY TO ELDERSOURCE, INC.

    Revenue $135,000

As filed on the 2024 return.

Listed in Part VII

  • FRAN PEPIS

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • MELISSA GILREATH

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • BRENDA EZELL

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • BILL TERNENT

    BOARD MEMEBER

    Total calculated
    $0
    Hours/week
    1

  • ED SALEK

    BOARD MEMEBER

    Total calculated
    $0
    Hours/week
    1

  • LINDA LEVIN

    EXECUTIVE DIRECTOR

    Total calculated
    $173,825
    From this org
    $0
    From related orgs
    $173,825
    Other
    $0
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $173,435 related
    Bonus
    $0 + $390 related
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $173,825 related

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

  • 3 · Compensation committee
  • 3 · Approval by the board or compensation committee

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)

PART I, LINE 3
THE BYLAWS ESTABLISH THAT THE EXECUTIVE COMMITTEE HAS GENERAL OVERSIGHT OF THE ORGANIZATION'S HUMAN RESOURCE PLAN. SPECIFIC DUTIES INCLUDE YEARLY EVALUATION OF THE EXECUTIVE DIRECTOR OF THE ORGANIZATION AND SETTING THE COMPENSATION FOR THE FOLLOWING YEAR. A COMPETENT SALARY SURVEY IS USED TO BENCHMARK COMPENSATION FOR THE POSITION UTILIZING FLORIDA AGENCIES ON AGING AND OTHER STUDIES OF COMPARABLE NOT FOR PROFIT AGENCIES. THE COMMITTEE MEETS INDEPENDENT OF THE EXECUTIVE DIRECTOR TO DISCUSS PERFORMANCE RELATIVE TO THE POSITION DESCRIPTION. DURING THESE DELIBERATIONS, THE COMMITTEE ALSO CONSIDERS INPUT OBTAINED FROM OTHER BOARD MEMBERS, STAFF, PROFESSIONAL ADVISORS, GRANT RECIPIENTS, AND OTHER INFORMED COMMUNITY LEADERS. ONCE A CONSENSUS IS REACHED REGARDING PERFORMANCE, A SIMILAR DISCUSSION IS HELD CONCERNING COMPENSATION RELATIVE TO ANNUAL BENCHMARK AND ESTABLISHED OBJECTIVES. THE COMMITTEE PRESENTS ITS FINDINGS AND RECOMMENDATIONS, IN AN EXECUTIVE SESSION WITHOUT THE CHIEF EXECUTIVE PRESENT, TO THE FULL BOARD FOR REVIEW AND APPROVAL.

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.

  • ELDERSOURCE INC

    501(C)(3) · TO IMPROVE THE WELL BEING OF ELDERS AND CAREGIVERS IN FLORIDA. · FL · controlled entity

  • NORTHEAST FL AREA AGENCY ON AGING

    501(C)(3) · TO IMPROVE THE WELL BEING OF ELDERS AND CAREGIVERS IN NE FLORIDA. · FL

    Directly controlled by ELDERSOURCE INC

  • ELDERSOURCE INSTITUTE INC

    501(C)(3) · TO IMPROVE THE WELL BEING OF ELDERS AND CAREGIVERS IN NE FLORIDA. · FL

    Directly controlled by ELDERSOURCE INC

  • MEDICAID MANAGEMENT SERVICES

    501(C)(3) · TO IMPROVE THE WELL BEING OF ELDERS AND CAREGIVERS IN FLORIDA. · FL

    Directly controlled by ELDERSOURCE INC

Provenance

Return type
form_990
Tax year
2024
Filed
11 November 2025
IRS schema version
2024v5.2
Source object
202523219349314392

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