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← FOUR SEASONS VILLAS INC

Form 990 for tax year 2022

Filed by FOUR SEASONS VILLAS INC.

Totals

Total revenue
$621,952
Total expenses
$661,207
Contributions and grants received
$287,620
Grants paid
$0
Program service revenue
$323,175
Investment income
$591
Other revenue
$10,566
Total assets, end of year
$1,985,247
Total liabilities, end of year
$2,251,666
Net assets or fund balances, end of year
-$266,419
Program services expenses (Part IX)
$608,427
Management and general expenses
$52,780
Fundraising expenses
$0
Program service expenses (Part III)
$608,427

Program services were 92.0% 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.

  • 1e · Government grants (contributions)

    $287,620

  • 2a · Program service revenue: RESIDENT RENTAL INCOME

    total $323,175 · related or exempt $323,175

  • 3 · Investment income

    total $591 · excluded $591

  • 11a · Other revenue: LAUNDRY INCOME

    total $4,721 · excluded $4,721

  • 11b · Other revenue: CLEANING AND DAMAGES

    total $2,999 · excluded $2,999

  • 11c · Other revenue: SECURITY DEPOSITS

    total $2,846 · excluded $2,846

  • 11e · Other revenue, total

    $10,566

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $139,270 · program services $139,270

  • 9 · Other employee benefits

    total $36,984 · program services $36,984

  • 10 · Payroll taxes

    total $9,936 · program services $9,936

  • 11a · Fees: management

    total $31,115 · management and general $31,115

  • 11b · Fees: legal

    total $168 · management and general $168

  • 11c · Fees: accounting

    total $12,600 · management and general $12,600

  • 11g · Fees: other

    total $53,302 · program services $53,302

  • 12 · Advertising and promotion

    total $9,530 · program services $9,530

  • 13 · Office expenses

    total $989 · program services $989

  • 16 · Occupancy

    total $50,516 · program services $50,516

  • 19 · Conferences, conventions and meetings

    total $2,507 · management and general $2,507

  • 20 · Interest

    total $84,719 · program services $84,719

  • 22 · Depreciation, depletion and amortization

    total $172,034 · program services $172,034

  • 23 · Insurance

    total $29,771 · program services $29,771

  • 24a · Other expenses: SUPPLIES

    total $14,618 · program services $14,618

  • 24b · Other expenses: INSPECTION FEES

    total $5,450 · management and general $5,450

  • 24c · Other expenses: RENT EXPENSE

    total $3,710 · program services $3,710

  • 24d · Other expenses: REPAIRS & MAINTENANCE

    total $3,048 · program services $3,048

  • 24e · All other expenses

    total $940 · management and general $940

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $28,691 · end of year $27,526

  • 2 · Savings and temporary cash investments

    beginning of year $559,969 · end of year $577,563

  • 4 · Accounts receivable

    beginning of year $689 · end of year $689

  • 9 · Prepaid expenses and deferred charges

    beginning of year $22,188 · end of year $4,406

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

    $4,711,916

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

    $3,420,006

  • 10c · Land, buildings and equipment, net

    beginning of year $1,361,827 · end of year $1,291,910

  • 15 · Other assets

    beginning of year $87,401 · end of year $83,153

  • 17 · Accounts payable and accrued expenses

    beginning of year $80,734 · end of year $111,472

  • 23 · Secured mortgages and notes payable

    beginning of year $2,176,407 · end of year $2,107,369

  • 25 · Other liabilities

    beginning of year $30,788 · end of year $32,825

  • 27 · Net assets without donor restrictions

    beginning of year -$227,164 · end of year -$266,419

Mission and programs · 2022

Mission

TO OPERATE A HUD SUBSIDIZED RENTAL HOUSING PROJECT FOR LOW INCOME ELDERLY AND PERSONS NEEDING A SPECIALLY-DESIGNED RENTAL UNIT.

  • PROVIDE HUD SUBSIDIZED HOUSING FOR LOW INCOME ELDERLY AND PERSONS NEEDING A SPECIALLY-DESIGNED RENTAL UNIT.

    Expenses $608,427 · Revenue $323,175

As filed on the 2022 return.

Listed in Part VII

  • John S Dattilo

    DIRECTOR AND PRESIDENT/CEO

    Total calculated
    $401,521
    From this org
    $0
    From related orgs
    $363,620
    Other
    $37,901
    Hours/week
    2 + 56 related

    Schedule J breakdown matched by us

    Base
    $0 + $323,620 related
    Bonus
    $0 + $40,000 related
    Other
    $0
    Deferred
    $0 + $16,957 related
    Nontaxable benefits
    $0 + $20,944 related
    Filer's total
    $0 + $401,521 related

  • Roger Weideman II

    DIRECTOR & VP/CFO

    Total calculated
    $370,172
    From this org
    $0
    From related orgs
    $334,250
    Other
    $35,922
    Hours/week
    2 + 56 related

    Schedule J breakdown matched by us

    Base
    $0 + $299,250 related
    Bonus
    $0 + $35,000 related
    Other
    $0
    Deferred
    $0 + $15,282 related
    Nontaxable benefits
    $0 + $20,640 related
    Filer's total
    $0 + $370,172 related

  • Wendy L Meredith

    DIRECTOR & CHAIRPERSON

    Total calculated
    $0
    Hours/week
    2 + 10.5 related

  • William R Hurt

    DIRECTOR & SECRETARY/TREASURER

    Total calculated
    $0
    Hours/week
    2 + 10.5 related

  • Roger D Miller

    DIRECTOR & VICE-CHAIRPERSON

    Total calculated
    $0
    Hours/week
    2 + 10.5 related

  • John D Lipson

    DIRECTOR & ASST. SECRETARY/TREASURER

    Total calculated
    $0
    Hours/week
    2 + 8.5 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)

PART I, LINE 4B
A 457 (F) DEFERRED COMPENSATION PLAN WAS SET UP FOR JOHN DATILLO AND ROGER WEIDEMAN IN APRIL OF 2019. JOHN DATILLO'S PLAN BEGINS VESTING IN 2031 AND ROGER WEIDEMAN'S PLAN BEGINS VESTING IN 2034.
FORM 990, SCH J, PART I, LINE 3
METHODS USED TO DETERMINE COMPENSATION: COMPENSATION PAID BY BHI RETIREMENT COMMUNITIES IS DETERMINED BY THE SUBSTANTIATION OF THE REVIEW AND APPROVAL OF THE BOARD WHICH INCLUDES CONTEMPORANEOUS DELIBERATION AND DECISION.

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.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • WESLEY MANOR SOUTHSIDE LP

    RETIRE LIVING · IN · general or managing partner

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • SLDEVELOPMENT INC

    C · GOLF COURSE · IN · controlled entity

  • BHI HOME CARE INC

    C · HOME CARE · IN · controlled entity

Provenance

Return type
form_990
Tax year
2022
Filed
19 October 2023
IRS schema version
2022v5.0
Source object
202322939349301412

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