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Nonprofiteer
← SCCO COLLEGE PROPERTIES INC

Form 990 for tax year 2022

Filed by SCCO COLLEGE PROPERTIES INC.

Totals

Total revenue
$1,313,362
Total expenses
$1,313,362
Contributions and grants received
$0
Grants paid
$1,313,362
Program service revenue
$0
Investment income
$0
Other revenue
$1,313,362
Total assets, end of year
$1,904,300
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$1,904,300
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
$1,313,362

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.

  • 6a · Gross rents

    real property $1,313,362

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $1,313,362

  • 6d · Net rental income or loss

    total $1,313,362 · related or exempt $1,313,362

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,313,362

Balance sheet

Part X, book values.

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

    $1,904,300

  • 10c · Land, buildings and equipment, net

    beginning of year $1,904,300 · end of year $1,904,300

  • 27 · Net assets without donor restrictions

    beginning of year $1,904,300 · end of year $1,904,300

Mission and programs · 2022

Mission

TO SUPPORT THE EDUCATIONAL MISSION OF MARSHALL B. KETCHUM UNIVERSITY.

Activities or mission (Part I)

TO SUPPORT MBKU AS A TITLE HOLDING CORPORATION.

  • NET RENTAL INCOME WAS TRANSFERRED TO MARSHALL B. KETCHUM UNIVERSITY, A 501(C)(3) CORPORATION, TO SUPPORT ITS EDUCATION MISSION TO 704 STUDENTS.

    Expenses $1,313,362 · Grants $1,313,362 · Revenue $1,313,362

As filed on the 2022 return.

Listed in Part VII

  • Julie Schornack

    PRESIDENT

    Total calculated
    $444,788
    From this org
    $0
    From related orgs
    $370,163
    Other
    $74,625
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $364,680 related
    Bonus
    $0
    Other
    $0 + $5,483 related
    Deferred
    $0 + $27,450 related
    Nontaxable benefits
    $0 + $47,175 related
    Filer's total
    $0 + $444,788 related

  • Frank Scotti

    SR VP ADMIN & FINANCE, CFO

    Total calculated
    $302,714
    From this org
    $0
    From related orgs
    $267,279
    Other
    $35,435
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $266,379 related
    Bonus
    $0
    Other
    $0 + $900 related
    Deferred
    $0 + $24,464 related
    Nontaxable benefits
    $0 + $10,971 related
    Filer's total
    $0 + $302,714 related

  • Lynn Gabriel

    CHAIR

    Total calculated
    $0
    Hours/week
    2 + 6 related

  • Ray Baker

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    2 + 4 related

  • Cindy Blanq

    SECRETARY/TREASURER

    Total calculated
    $2,088
    From this org
    $0
    From related orgs
    $2,088
    Other
    $0
    Hours/week
    2 + 4 related

  • Richard Price

    TRUSTEE

    Total calculated
    $2,850
    From this org
    $0
    From related orgs
    $2,850
    Other
    $0
    Hours/week
    1 + 4 related

  • Kevin Alexander

    PRESIDENT THRU 6.30.22

    Total calculated
    $554,785
    From this org
    $0
    From related orgs
    $443,241
    Other
    $111,544
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $392,753 related
    Bonus
    $0
    Other
    $0 + $50,488 related
    Deferred
    $0 + $27,053 related
    Nontaxable benefits
    $0 + $84,491 related
    Filer's total
    $0 + $554,785 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

The filer's explanations (Part III)

PART I, LINE 4B
PRESIDENT EMERITUS, KEVIN ALEXANDER, PARTICIPATED IN A 457F PLAN. THERE WERE NO CONTRIBUTIONS MADE FOR 2022.
PART I, LINE 3:
COMPENSATION FOR OFFICERS IS NOT PAID BY THE ORGANIZATION BUT BY THE RELATED ORGANIZATION MARSHALL B. KETCHUM UNIVERSITY (MBKU). MBKU DETERMINES THE COMPENSATION OF THE OFFICERS USING THE FOLLOWING: 1. COMPENSATION COMMITTEE 2. WRITTEN EMPLOYMENT CONTRACTS 3. INDEPENDENT COMPENSATION CONSULTANT 4. COMPENSATION SURVEY OR STUDY 5. REVIEW OF THE FORM 990 OF COMPARABLE ORGANIZATIONS 6. APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE

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

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
2022
Filed
12 May 2024
IRS schema version
2022v5.0
Source object
202401349349306235

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