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← FAIRHOPE SINGLE TAX CORPORATION

Form 990 for tax year 2024

Filed by FAIRHOPE SINGLE TAX CORPORATION.

Totals

Total revenue
$12,423,442
Total expenses
$11,818,840
Contributions and grants received
$0
Grants paid
$1,041,985
Program service revenue
$11,984,643
Investment income
$426,599
Other revenue
$12,200
Total assets, end of year
$14,380,889
Total liabilities, end of year
$4,110,028
Net assets or fund balances, end of year
$10,270,861
Program services expenses (Part IX)
$11,781,940
Management and general expenses
$36,900
Fundraising expenses
$0
Program service expenses (Part III)
$11,781,940

Program services were 99.7% 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.

  • 2a · Program service revenue: RENTS - NET

    total $11,432,174

  • 2b · Program service revenue: ADMINISTRATION FEES

    total $409,338

  • 2c · Program service revenue: LEASE FEES

    total $133,530

  • 2d · Program service revenue: NEW MEMBER FEES

    total $9,406

  • 2e · Program service revenue: OTHER INCOME

    total $195

  • 3 · Investment income

    total $255,969

  • 6a · Gross rents

    real property $12,200

  • 6c · Rental income or loss

    real property $12,200

  • 6d · Net rental income or loss

    total $12,200

  • 7a · Gross sales of assets other than inventory

    other assets $12,935,000

  • 7b · Less cost or other basis and sales expenses

    other assets $12,764,370

  • 7c · Gain or loss

    other assets $170,630

  • 7d · Net gain or loss

    total $170,630

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,041,985 · program services $1,041,985

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $36,900 · management and general $36,900

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $190,104 · program services $190,104

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $4,992 · program services $4,992

  • 10 · Payroll taxes

    total $14,787 · program services $14,787

  • 11a · Fees: management

    total $9,922 · program services $9,922

  • 11b · Fees: legal

    total $2,846 · program services $2,846

  • 11c · Fees: accounting

    total $5,395 · program services $5,395

  • 11d · Fees: lobbying

    total $0

  • 11f · Fees: investment management

    total $9,000 · program services $9,000

  • 11g · Fees: other

    total $0

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $103,800 · program services $103,800

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $0

  • 17 · Travel

    total $0

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $0

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $12,395 · program services $12,395

  • 23 · Insurance

    total $37,646 · program services $37,646

  • 24a · Other expenses: AD VALOREM TAXES

    total $10,281,805 · program services $10,281,805

  • 24b · Other expenses: PERSONAL PROPERTY TAX

    total $210 · program services $210

  • 24c · Other expenses: COMMITTEES

    total $66,803 · program services $66,803

  • 24d · Other expenses: SCHOLARSHIP

    total $250 · program services $250

  • 24e · All other expenses

    total $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,908,384 · end of year $2,519,246

  • 2 · Savings and temporary cash investments

    beginning of year $7,005,890 · end of year $10,241,940

  • 4 · Accounts receivable

    beginning of year $1,394,023 · end of year $488,585

  • 9 · Prepaid expenses and deferred charges

    beginning of year $26,134 · end of year $25,759

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

    $845,283

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

    $244,549

  • 10c · Land, buildings and equipment, net

    beginning of year $610,384 · end of year $600,734

  • 11 · Investments: publicly traded securities

    beginning of year $350,391 · end of year $400,655

  • 15 · Other assets

    beginning of year $33,350 · end of year $103,970

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,581,692 · end of year $2,837,206

  • 18 · Grants payable

    beginning of year $47,500 · end of year $977,500

  • 19 · Deferred revenue

    beginning of year $31,492 · end of year $72,111

  • 25 · Other liabilities

    beginning of year $1,613 · end of year $223,211

  • 27 · Net assets without donor restrictions

    beginning of year $9,626,259 · end of year $10,230,111

  • 28 · Net assets with donor restrictions

    beginning of year $40,000 · end of year $40,750

Mission and programs · 2024

Mission

SEE SCHEDULE O RESPONSE FOR FORM 990, PART I, LINE 1.

Activities or mission (Part I)

SEE SCHEDULE O

  • SEE ATTACHED STATEMENT IN SCHEDULE O FOR FORM 990, PART I, LINE 1

    Expenses $11,781,940

As filed on the 2024 return.

Listed in Part VII

  • Leonard O Turner

    PRESIDENT

    Total calculated
    $6,000
    From this org
    $6,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Michael Upchurch

    TREASURER

    Total calculated
    $6,000
    From this org
    $6,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    9

  • Reuben Davidson

    SECRETARY

    Total calculated
    $6,000
    From this org
    $6,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • H C Cliff Pitman

    DIRECTOR

    Total calculated
    $2,100
    From this org
    $2,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Catherine King

    DIRECTOR

    Total calculated
    $2,100
    From this org
    $2,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Geoffrey F Kennedy

    DIRECTOR

    Total calculated
    $2,100
    From this org
    $2,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Fred Watkins Jr

    DIRECTOR

    Total calculated
    $2,100
    From this org
    $2,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.5

  • James Reid Jr

    DIRECTOR

    Total calculated
    $2,100
    From this org
    $2,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Patrick King

    TRUSTEE

    Total calculated
    $2,100
    From this org
    $2,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Teresa Watkins

    TRUSTEE

    Total calculated
    $2,100
    From this org
    $2,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • George Gilmore

    TRUSTEE

    Total calculated
    $2,100
    From this org
    $2,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Charles Lake

    VICE PRESIDENT

    Total calculated
    $2,100
    From this org
    $2,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

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.

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.

  • FAIRHOPE COLONY CEMETERY

    501 C 13 · MAINTAIN CEMETERY · AL · controlled entity

    Directly controlled by FAIRHOPE SINGLE TAX CORPORATION

Provenance

Return type
form_990
Tax year
2024
Filed
15 November 2025
IRS schema version
2024v5.2
Source object
202533219349321693

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