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Nonprofiteer
← PRESBYTERIAN PROPERTIES INC

Form 990 for tax year 2023

Filed by PRESBYTERIAN PROPERTIES INC.

Totals

Total revenue
$4,295,857
Total expenses
$4,430,476
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$4,295,857
Investment income
$0
Other revenue
$0
Total assets, end of year
$96,864,010
Total liabilities, end of year
$69,141,216
Net assets or fund balances, end of year
$27,722,794
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
$4,430,476

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 $4,295,857 · related or exempt $4,295,857

  • 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

  • 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.

  • 11a · Fees: management

    total $621,484

  • 11g · Fees: other

    total $93,643

  • 16 · Occupancy

    total $3,184,436

  • 20 · Interest

    total $3,530,162

  • 22 · Depreciation, depletion and amortization

    total $3,541,384

  • 23 · Insurance

    total $122,524

  • 24a · Other expenses: PROPERTY TAXES

    total $1,329,437

  • 24b · Other expenses: REPAIRS - OTHER

    total $1,071,724

  • 24c · Other expenses: ASSET IMPAIRMENTS

    total $242,464

  • 24d · Other expenses: MISCELLANEOUS

    total $10,293

  • 24e · All other expenses

    total -$9,317,075

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,072 · end of year $166,741

  • 4 · Accounts receivable

    beginning of year $379,914 · end of year $657,182

  • 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 $0

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

    $152,659,612

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

    $56,619,525

  • 10c · Land, buildings and equipment, net

    beginning of year $94,393,111 · end of year $96,040,087

  • 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 $888,675 · end of year $850,163

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $66,030,009 · end of year $68,291,053

  • 27 · Net assets without donor restrictions

    beginning of year $27,857,413 · end of year $27,722,794

Mission and programs · 2023

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 $4,430,476 · Revenue $4,295,857

As filed on the 2023 return.

Listed in Part VII

  • Dale Maxwell

    President / Director

    Total calculated
    $4,519,558
    From this org
    $0
    From related orgs
    $4,120,680
    Other
    $398,878
    Hours/week
    1 + 42 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,991,910 related
    Bonus
    $0 + $1,290,957 related
    Other
    $0 + $837,813 related
    Deferred
    $0 + $377,412 related
    Nontaxable benefits
    $0 + $21,466 related
    Filer's total
    $0 + $4,519,558 related

  • Eric Cornish

    VP / Director

    Total calculated
    $368,674
    From this org
    $0
    From related orgs
    $327,588
    Other
    $41,086
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $269,232 related
    Bonus
    $0 + $44,548 related
    Other
    $0 + $13,808 related
    Deferred
    $0 + $20,139 related
    Nontaxable benefits
    $0 + $20,947 related
    Filer's total
    $0 + $368,674 related

  • James Noble

    VP / Director

    Total calculated
    $1,618,330
    From this org
    $0
    From related orgs
    $1,489,096
    Other
    $129,234
    Hours/week
    1 + 41 related

    Schedule J breakdown matched by us

    Base
    $0 + $880,354 related
    Bonus
    $0 + $426,123 related
    Other
    $0 + $182,619 related
    Deferred
    $0 + $99,849 related
    Nontaxable benefits
    $0 + $29,385 related
    Filer's total
    $0 + $1,618,330 related

  • Ryan Burt

    VP / Director

    Total calculated
    $1,404,252
    From this org
    $0
    From related orgs
    $1,301,119
    Other
    $103,133
    Hours/week
    1 + 41 related

    Schedule J breakdown matched by us

    Base
    $0 + $741,835 related
    Bonus
    $0 + $374,972 related
    Other
    $0 + $184,312 related
    Deferred
    $0 + $78,561 related
    Nontaxable benefits
    $0 + $24,572 related
    Filer's total
    $0 + $1,404,252 related

  • Timothy Johnsen

    VP / Director

    Total calculated
    $1,230,828
    From this org
    $0
    From related orgs
    $1,120,489
    Other
    $110,339
    Hours/week
    1 + 41 related

    Schedule J breakdown matched by us

    Base
    $0 + $759,160 related
    Bonus
    $0 + $345,216 related
    Other
    $0 + $16,113 related
    Deferred
    $0 + $83,710 related
    Nontaxable benefits
    $0 + $26,629 related
    Filer's total
    $0 + $1,230,828 related

  • Lauren M Cates

    Director (Effective: 12/8/2023)

    Total calculated
    $928,405
    From this org
    $0
    From related orgs
    $852,419
    Other
    $75,986
    Hours/week
    1 + 42 related

    Schedule J breakdown matched by us

    Base
    $0 + $620,125 related
    Bonus
    $0 + $150,504 related
    Other
    $0 + $81,790 related
    Deferred
    $0 + $42,107 related
    Nontaxable benefits
    $0 + $33,879 related
    Filer's total
    $0 + $928,405 related

  • Donna Garcia

    Former VP / Director

    Total calculated
    $166,811
    From this org
    $0
    From related orgs
    $156,353
    Other
    $10,458
    Hours/week
    0 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $28,409 related
    Bonus
    $0 + $118,967 related
    Other
    $0 + $8,977 related
    Deferred
    $0 + $2,880 related
    Nontaxable benefits
    $0 + $7,578 related
    Filer's total
    $0 + $166,811 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

The filer's explanations (Part 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 2023, $340,005 WAS DEFERRED UNDER THIS AGREEMENT FOR MR. MAXWELL. THIS AMOUNT IS INCLUDED IN THE REPORTED DEFERRED COMPENSATION. ALSO, IN 2023, MR. MAXWELL RECEIVED A VESTED PAYMENT FROM THE RETENTION PLAN OF $379,190. 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 2023, $62,061 WAS DEFERRED UNDER THIS AGREEMENT FOR MR. BURT. THIS AMOUNT IS INCLUDED IN THE REPORTED DEFERRED COMPENSATION. ALSO, IN 2023, MR. BURT RECEIVED A VESTED PAYMENT FROM THE RETENTION PLAN OF $47,339. 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) DEFERRED COMPENSATION
JAMES NOBLE IS A PARTICIPANT IN A RETENTION AGREEMENT WITH PRESBYTERIAN HEALTHCARE SERVICES (PHS). IN 2023, $84,999 WAS DEFERRED UNDER THIS AGREEMENT FOR MR. NOBLE. THIS AMOUNT IS INCLUDED IN THE REPORTED DEFERRED COMPENSATION.
Schedule J, Part II, Column (C) DEFERRED COMPENSATION
TIMOTHY JOHNSEN IS A PARTICIPANT IN A RETENTION AGREEEMENT. IN 2023, $68,860 WAS DEFERRED UNDER THIS AGREEMENT FOR MR. JOHNSEN BY THE REPORTING ORGANIZATION. THIS AMOUNT IS INCLUDED IN THE REPORTED DEFERRED COMPENSATION AMOUNT.
Schedule J, Part III OTHER
DONNA GARCIA WAS COMPENSATED AS A CURRENT EMPLOYEE OF A RELATED ENTITY IN 2023. IN ONE OR MORE OF THE FIVE PRIOR YEARS, SHE WAS AN OFFICER OF PPI AND WAS REPORTED AS SUCH. IN 2023, 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
2023
Filed
10 September 2024
IRS schema version
2023v5.1
Source object
202442549349302104

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