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Nonprofiteer
← PRESBYTERIAN PROPERTIES INC

Form 990 for tax year 2022

Filed by PRESBYTERIAN PROPERTIES INC.

Totals

Total revenue
$3,778,110
Total expenses
$3,430,886
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$3,778,083
Investment income
$0
Other revenue
$27
Total assets, end of year
$94,776,097
Total liabilities, end of year
$66,918,684
Net assets or fund balances, end of year
$27,857,413
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
$3,430,886

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 OF REAL ESTATE

    total $3,778,083 · related or exempt $3,778,083

  • 2f · All other program service revenue

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

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 11a · Other revenue: CASH DISCOUNTS

    total $27 · related or exempt $27

  • 11d · All other revenue

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

  • 11e · Other revenue, total

    $27

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $585,736

  • 11g · Fees: other

    total $132,562

  • 16 · Occupancy

    total $2,853,992

  • 20 · Interest

    total $1,291,107

  • 22 · Depreciation, depletion and amortization

    total $5,310,251

  • 23 · Insurance

    total $119,696

  • 24a · Other expenses: REPAIRS - OTHER

    total $956,366

  • 24b · Other expenses: RECOVERY OF EXPENSE

    total -$9,048,884

  • 24c · Other expenses: PROPERTY TAXES

    total $1,224,747

  • 24e · All other expenses

    total $5,313

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,068 · end of year $3,072

  • 4 · Accounts receivable

    beginning of year $639,082 · end of year $379,914

  • 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 $32,697 · end of year $0

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

    $155,430,939

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

    $61,037,828

  • 10c · Land, buildings and equipment, net

    beginning of year $91,549,822 · end of year $94,393,111

  • 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

  • 17 · Accounts payable and accrued expenses

    beginning of year $570,414 · end of year $888,675

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $64,144,066 · end of year $66,030,009

  • 27 · Net assets without donor restrictions

    beginning of year $27,510,189 · end of year $27,857,413

Mission and programs · 2022

Mission

SUPPORT OF PRESBYTERIAN HEALTHCARE SERVICES, A SECTION 501(C)(3) ORGANIZATION.

Activities or mission (Part I)

SEE SCHEDULE O

  • RENTAL INCOME DERIVED FROM THE RENTAL OF MEDICAL OFFICE BUILDINGS AND OTHER REAL ESTATE TO ENHANCE ACCESS TO HOSPITAL FACILITIES AND TO BENEFIT THE PARENT ORGANIZATION, PRESBYTERIAN HEALTHCARE SERVICES, A 501(C)(3) ORGANIZATION.

    Expenses $3,430,886 · Revenue $3,778,110

As filed on the 2022 return.

Listed in Part VII

  • Dale Maxwell

    President / Director

    Total calculated
    $3,396,592
    From this org
    $0
    From related orgs
    $3,154,676
    Other
    $241,916
    Hours/week
    1 + 42 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,588,974 related
    Bonus
    $0 + $1,158,124 related
    Other
    $0 + $407,578 related
    Deferred
    $0 + $220,658 related
    Nontaxable benefits
    $0 + $21,258 related
    Filer's total
    $0 + $3,396,592 related

  • Eric Cornish

    VP / Director

    Total calculated
    $224,767
    From this org
    $0
    From related orgs
    $257,612
    Other
    -$32,845
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $217,247 related
    Bonus
    $0 + $29,767 related
    Other
    $0 + $10,598 related
    Deferred
    $0 + -$53,064 related
    Nontaxable benefits
    $0 + $20,219 related
    Filer's total
    $0 + $224,767 related

  • James Noble

    VP / Director

    Total calculated
    $1,328,705
    From this org
    $0
    From related orgs
    $1,215,803
    Other
    $112,902
    Hours/week
    1 + 41 related

    Schedule J breakdown matched by us

    Base
    $0 + $813,352 related
    Bonus
    $0 + $390,319 related
    Other
    $0 + $12,132 related
    Deferred
    $0 + $81,225 related
    Nontaxable benefits
    $0 + $31,677 related
    Filer's total
    $0 + $1,328,705 related

  • Ryan Burt

    VP / Director

    Total calculated
    $1,038,604
    From this org
    $0
    From related orgs
    $950,557
    Other
    $88,047
    Hours/week
    1 + 41 related

    Schedule J breakdown matched by us

    Base
    $0 + $560,142 related
    Bonus
    $0 + $385,818 related
    Other
    $0 + $4,597 related
    Deferred
    $0 + $65,927 related
    Nontaxable benefits
    $0 + $22,120 related
    Filer's total
    $0 + $1,038,604 related

  • Timothy Johnsen

    VP / Director

    Total calculated
    $1,128,097
    From this org
    $0
    From related orgs
    $1,025,195
    Other
    $102,902
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $656,289 related
    Bonus
    $0 + $358,800 related
    Other
    $0 + $10,106 related
    Deferred
    $0 + $78,725 related
    Nontaxable benefits
    $0 + $24,177 related
    Filer's total
    $0 + $1,128,097 related

  • Donna Garcia

    Former VP / Director

    Total calculated
    $591,354
    From this org
    $0
    From related orgs
    $565,868
    Other
    $25,486
    Hours/week
    0 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $391,093 related
    Bonus
    $0 + $162,382 related
    Other
    $0 + $12,393 related
    Deferred
    $0 + $3,997 related
    Nontaxable benefits
    $0 + $21,489 related
    Filer's total
    $0 + $591,354 related

  • Timothy Elder

    Former VP / Director

    Total calculated
    $118,462
    From this org
    $0
    From related orgs
    $118,462
    Other
    $0
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $0
    Bonus
    $0
    Other
    $0 + $118,462 related
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $118,462 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

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

Answered no

  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

Schedule J, Part I, Line 4a Severance or change-of-control payment
TIMOTHY ELDER RECEIVED $118,462 IN SEVERANCE COMPENSATION DURING 2022 FROM A RELATED ORGANIZATION; WHICH IS INCLUDED IN HIS CURRENT COMPENSATION ON LINE B(iii).
Schedule J, Part I, Line 3 CEO/EXECUTIVE DIRECTOR COMPENSATION
PRESBYTERIAN PROPERTIES, INC. (PPI), THE REPORTING ORGANIZATION, DOES NOT HAVE A CEO OR EXECUTIVE DIRECTOR. THEREFORE, NONE OF THESE ITEMS APPLY. ADDITIONALLY, NONE OF THE OFFICERS OF PPI ARE COMPENSATED BY PPI.
Schedule J, Part II, Column (C) DEFERRED COMPENSATION
DALE MAXWELL IS A PARTICIPANT IN A RETENTION AGREEMENT WITH PRESBYTERIAN HEALTHCARE SERVICES (PHS). IN 2022, $298,871 WAS DEFERRED UNDER THIS AGREEMENT FOR MR. MAXWELL. THIS AMOUNT IS INCLUDED IN THE REPORTED DEFERRED COMPENSATION. ALSO, IN 2022, MR. MAXWELL RECEIVED A VESTED PAYMENT FROM THE RETENTION PLAN OF $393,646. THIS AMOUNT IS REPORTED IN CURRENT COMPENSATION, AS REQUIRED, AND IS ALSO INCLUDED IN COLUMN F OF SCHEDULE J.
Schedule J, Part II, Column (C) DEFFERED COMPENSATION
RYAN BURT IS A PARTICIPANT IN A RETENTION AGREEMENT WITH PRESBYTERIAN HEALTHCARE SERVICES (PHS). IN 2022, $52,202 WAS DEFERRED UNDER THIS AGREEMENT FOR MR. BURT. THIS AMOUNT IS INCLUDED IN THE REPORTED DEFERRED COMPENSATION.
Schedule J, Part II, Column (C) DEFERRED COMPENSATION
JAMES NOBLE IS A PARTICIPANT IN A RETENTION AGREEMENT WITH PRESBYTERIAN HEALTHCARE SERVICES (PHS). IN 2022, $67,500 WAS DEFERRED UNDER THIS AGREEMENT FOR MR. NOBLE. THIS AMOUNT IS INCLUDED IN THE REPORTED DEFERRED COMPENSATION.
Schedule J, Part III OTHER
DONNA GARCIA WAS COMPENSATED AS A CURRENT EMPLOYEE OF A RELATED ENTITY IN 2022. IN ONE OR MORE OF THE FIVE PRIOR YEARS, SHE WAS AN OFFICER OF PPI AND WAS REPORTED AS SUCH. IN 2022, MS. GARCIA WAS NO LONGER AN OFFICER, BUT HER COMPENSATION EXCEEDED THE MINIMUM REQUIREMENT FOR REPORTING AS A FORMER OFFICER AND SHE IS INCLUDED ON FORM 990, PART VII, AND ON SCHEDULE J AS ALSO REQUIRED.

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.

Provenance

Return type
form_990
Tax year
2022
Filed
26 October 2023
IRS schema version
2022v5.0
Source object
202302999349302025

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