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Nonprofiteer
← WOODVILLE PROPERTIES INC

Form 990 for tax year 2022

Filed by WOODVILLE PROPERTIES INC.

Totals

Total revenue
$737,407
Total expenses
$1,103,263
Contributions and grants received
$500,000
Grants paid
$480,000
Program service revenue
$117,554
Investment income
$119,737
Other revenue
$116
Total assets, end of year
$10,906,663
Total liabilities, end of year
$138,464
Net assets or fund balances, end of year
$10,768,199
Program services expenses (Part IX)
$1,103,263
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$1,103,263

Program services were 100.0% 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.

  • 1d · Related organizations

    $500,000

  • 2a · Program service revenue: RENTAL INCOME

    total $117,554 · related or exempt $117,554

  • 3 · Investment income

    total $119,737 · excluded $119,737

  • 11a · Other revenue: COLLECTION FEES

    total $116 · related or exempt $116

  • 11e · Other revenue, total

    $116

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $480,000 · program services $480,000

  • 7 · Other salaries and wages

    total $31,767 · program services $31,767

  • 8 · Pension plan contributions

    total $2,550 · program services $2,550

  • 9 · Other employee benefits

    total $5,033 · program services $5,033

  • 10 · Payroll taxes

    total $2,203 · program services $2,203

  • 11c · Fees: accounting

    total $3,239 · program services $3,239

  • 11g · Fees: other

    total $27,048 · program services $27,048

  • 13 · Office expenses

    total $6,025 · program services $6,025

  • 16 · Occupancy

    total $107,186 · program services $107,186

  • 22 · Depreciation, depletion and amortization

    total $226,905 · program services $226,905

  • 23 · Insurance

    total $29,942 · program services $29,942

  • 24a · Other expenses: REPAIRS & MAINTENANCE

    total $139,069 · program services $139,069

  • 24b · Other expenses: MISCELLANEOUS

    total $25,899 · program services $25,899

  • 24c · Other expenses: EQUIPMENT

    total $5,991 · program services $5,991

  • 24d · Other expenses: STAFF TRAINING & TRAVEL

    total $4,820 · program services $4,820

  • 24e · All other expenses

    total $5,586 · program services $5,586

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,657,933 · end of year $243,457

  • 4 · Accounts receivable

    beginning of year $9,594 · end of year $112,715

  • 7 · Other notes and loans receivable

    beginning of year $1,655,473 · end of year $1,598,903

  • 9 · Prepaid expenses and deferred charges

    end of year $46,719

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

    $18,857,604

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

    $9,952,735

  • 10c · Land, buildings and equipment, net

    beginning of year $7,907,953 · end of year $8,904,869

  • 17 · Accounts payable and accrued expenses

    beginning of year $95,807 · end of year $5,457

  • 25 · Other liabilities

    beginning of year $0 · end of year $133,007

  • 27 · Net assets without donor restrictions

    beginning of year $11,135,146 · end of year $10,768,199

Mission and programs · 2022

Mission

THE PURPOSE OF WOODVILLE PROPERTIES, INC. IS TO HOLD TITLE TO PROPERTY, COLLECT THE INCOME THEREFROM, AND TURN OVER THE ENTIRE AMOUNT THEREOF, LESS EXPENSES, TO DISC VILLAGE, INC. AN ORGANIZATION EXEMPT UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. PRIOR TO TURNING OVER THE NET INCOME TO DISC VILLAGE, INC. THE CORPORATION SHALL PAY ALL EXPENSES INCIDENT TO OWNERSHIP OF THE PROPERTY TO WHICH IT IS HOLDING TITLE.

  • THE ORGANIZATION MAINTAINED AND PROVIDED BUILDINGS AND LAND AT COST TO DISC VILLAGE, INC. AND OTHER NON-PROFIT ORGANIZATIONS THAT ARE NECESSARY FOR THE COMPLETION OF THEIR EXEMPT PURPOSES.

    Expenses $1,103,263 · Grants $480,000 · Revenue $117,670

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • DR JEFFREY LIANG

    VICE PRESIDENT/SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • GARY ROBERTS

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • THOMAS K OLK

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $197,719
    From this org
    $0
    From related orgs
    $191,035
    Other
    $6,684
    Hours/week
    20 + 20 related

    Schedule J breakdown matched by us

    Base
    $0 + $191,035 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $6,684 related
    Filer's total
    $0 + $197,719 related

  • MIKE SASNETT

    CHIEF FINANCIAL OFFICER

    Total calculated
    $219,594
    From this org
    $0
    From related orgs
    $198,786
    Other
    $20,808
    Hours/week
    5 + 45 related

    Schedule J breakdown matched by us

    Base
    $0 + $198,786 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $14,094 related
    Nontaxable benefits
    $0 + $6,714 related
    Filer's total
    $0 + $219,594 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

None.

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
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3
THE ORGANIZATION'S CEO AND CFO ARE COMPENSATED BY DISC VILLAGE FOUNDATION, INC., A RELATED ORGANIZATION. COMPENSATION IS ESTABLISHED BY A COMPENSATION STUDY AND IS APPROVED BY THE BOARD OF DIRECTORS.

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
24 April 2024
IRS schema version
2022v5.0
Source object
202421179349301622

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