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Nonprofiteer
← SCHC PROPERTY CORPORATION

Form 990 for tax year 2023

Filed by SCHC PROPERTY CORPORATION.

Totals

Total revenue
$842,789
Total expenses
$756,799
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$898,256
Investment income
-$55,467
Other revenue
$0
Total assets, end of year
$0
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$0
Program services expenses (Part IX)
$529,759
Management and general expenses
$227,040
Fundraising expenses
$0
Program service expenses (Part III)
$529,759

Program services were 70.0% 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 $898,256 · related or exempt $898,256

  • 2f · All other program service revenue

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

  • 3 · Investment income

    total $2,512 · excluded $2,512

  • 6c · Rental income or loss

    real property $0 · personal property $0

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

    other assets $57,979

  • 7c · Gain or loss

    securities $0 · other assets -$57,979

  • 7d · Net gain or loss

    total -$57,979 · excluded -$57,979

  • 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.

  • 11g · Fees: other

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $733,030 · program services $513,121 · management and general $219,909

  • 23 · Insurance

    total $23,769 · program services $16,638 · management and general $7,131

  • 24e · All other expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,011,976

  • 2 · Savings and temporary cash investments

    beginning of year $299,530

  • 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

  • 9 · Prepaid expenses and deferred charges

    beginning of year $23,770

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

    $0

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $12,499,706 · end of year $0

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $10,177 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $13,824,805

Mission and programs · 2023

Mission

A SPECIAL PURPOSE ENTITY FOR NEW MARKET TAX CREDITS FINANCING TO HOLD THE REAL ASSETS OF SHASTA COMMUNITY HEALTH CENTER IN ORDER TO PROVIDE HEALTHCARE SERVICES TO THEIR PATIENTS.

Activities or mission (Part I)

SCHC PROPERTY CORPORATION, SUPPORTS SHASTA COMMUNITY HEALTH CENTER (SCHC) THROUGH DEVELOPMENT, FINANCE AND OWNERSHIP OF CLINIC FACILITIES AND EQUIPMENT FOR SCHC.

  • THE PURPOSE OF SCHC PROPERTY CORPORATION, IS TO SUPPORT THE CHARITABLE AND EDUCATIONAL ACTIVITIES OF SHASTA COMMUNITY HEALTH CENTER (SCHC) THROUGH THE ORGANIZATION'S DEVELOPMENT, FINANCE AND OWNERSHIP OF CLINIC FACILITIES FOR THE BENEFIT OF SCHC.

    Expenses $529,759 · Revenue $898,256

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • John Kenny

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    0.1 + 4.2 related

  • Kerry Fasking

    CHAIR

    Total calculated
    $0
    Hours/week
    0.1 + 4.3 related

  • Margaret Beck

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.1 + 4.3 related

  • Wendy Longwell

    TREASURER

    Total calculated
    $0
    Hours/week
    0.1 + 4.2 related

  • Amparo Buck

    COMMUNITY MEMBER END 02/23

    Total calculated
    $0
    Hours/week
    0.1 + 3.2 related

  • Christy Coleman

    COMMUNITY MEMBER BEG 05/23

    Total calculated
    $0
    Hours/week
    0.1 + 3.2 related

  • Dot Van Cleave

    CONSUMER MEMBER

    Total calculated
    $0
    Hours/week
    0.1 + 3.2 related

  • Elizabeth Olson

    CONSUMER MEMBER

    Total calculated
    $0
    Hours/week
    0.1 + 3.2 related

  • John Di Perry

    CONSUMER MEMBER

    Total calculated
    $0
    Hours/week
    0.1 + 3.2 related

  • Lori Goyne

    EX OFFICIO MEMBER

    Total calculated
    $0
    Hours/week
    0.1 + 3.3 related

  • Mark Mitchelson

    COMMUNITY MEMBER END 04/23

    Total calculated
    $0
    Hours/week
    0.1 + 3.2 related

  • Mike Mangas

    CONSUMER MEMBER

    Total calculated
    $0
    Hours/week
    0.1 + 3.2 related

  • Ray Hamby

    CONSUMER MEMBER

    Total calculated
    $0
    Hours/week
    0.1 + 3.2 related

  • Robert Folden

    COMMUNITY MEMBER

    Total calculated
    $0
    Hours/week
    0.1 + 4.2 related

  • Samantha Breton

    CONSUMER MEMBER

    Total calculated
    $0
    Hours/week
    0.1 + 3.2 related

  • Stephen Bell

    CONSUMER MEMBER END 04/23

    Total calculated
    $0
    Hours/week
    0.1 + 3.3 related

  • C Dean Germano

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $457,269
    From this org
    $0
    From related orgs
    $384,938
    Other
    $72,331
    Hours/week
    0.1 + 40.3 related

    Schedule J breakdown matched by us

    Base
    $0 + $328,971 related
    Bonus
    $0 + $55,967 related
    Other
    $0
    Deferred
    $0 + $64,099 related
    Nontaxable benefits
    $0 + $8,232 related
    Filer's total
    $0 + $457,269 related

  • Sherry Caldwell

    CHIEF FINANCIAL OFFICER

    Total calculated
    $281,863
    From this org
    $0
    From related orgs
    $266,059
    Other
    $15,804
    Hours/week
    0.1 + 40.3 related

    Schedule J breakdown matched by us

    Base
    $0 + $220,420 related
    Bonus
    $0 + $45,639 related
    Other
    $0
    Deferred
    $0 + $8,256 related
    Nontaxable benefits
    $0 + $7,548 related
    Filer's total
    $0 + $281,863 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

  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 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

The filer's explanations (Part III)

Schedule J, Part I, Line 3 Arrangement used to establish the top management official's compensation
THE COMPENSATION OF THE ORGANIZATION'S CEO WAS DETERMINED BY SHASTA COMMUNITY HEALTH CENTER (SCHC), A RELATED PARTY. SCHC USED THE FOLLOWING RESOURCES TO DETERMINE THE CEO'S COMPENSATION: - COMPENSATION COMMITTEE - INDEPENDENT COMPENSATION CONSULTANT - FORM 990 OF OTHER ORGANIZATIONS - COMPENSATION SURVEY OR STUDY - APPROVAL BY BOARD OR COMPENSATION COMMITTEE - WRITTEN EMPLOYMENT CONTRACT
Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan
C. DEAN GERMANO, CEO, IS COVERED BY A 457(F) SUPPLEMENTAL RETIREMENT AGREEMENT FROM SHASTA COMMUNITY HEALTH CENTER, A RELATED ORGANIZATION, WHICH WAS FUNDED THIS YEAR BY $50,867.

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.

Assets distributed on this return

Schedule N, as filed: what the organization did with its assets when it liquidated or dissolved, or disposed of more than a quarter of them, and who received them. A recipient with an EIN is usually a successor organization; filers also list expenses such as legal fees here.

2 distributions to recipients named as people, $13,920,972 in total. Counted where the filer named the recipient as a person, as filed. Who received them, and what, are not published.

Provenance

Return type
form_990
Tax year
2023
Filed
8 November 2024
IRS schema version
2023v5.1
Source object
202423139349302897

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