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← TSI PROPERTIES I INC

Form 990 for tax year 2022

Filed by TSI PROPERTIES I INC.

Totals

Total revenue
$73,522
Total expenses
$162,944
Contributions and grants received
$30,152
Grants paid
$0
Program service revenue
$43,361
Investment income
$9
Other revenue
$0
Total assets, end of year
$1,967,037
Total liabilities, end of year
$391,914
Net assets or fund balances, end of year
$1,575,123
Program services expenses (Part IX)
$142,990
Management and general expenses
$19,954
Fundraising expenses
$0
Program service expenses (Part III)
$142,990

Program services were 87.8% 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)

    $30,152

  • 2a · Program service revenue: RENTAL REVENUE

    total $43,361 · related or exempt $43,361

  • 3 · Investment income

    total $9 · excluded $9

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $3,220 · management and general $3,220

  • 11a · Fees: management

    total $3,168 · management and general $3,168

  • 11c · Fees: accounting

    total $11,130 · management and general $11,130

  • 13 · Office expenses

    total $2,436 · management and general $2,436

  • 16 · Occupancy

    total $27,755 · program services $27,755

  • 22 · Depreciation, depletion and amortization

    total $64,035 · program services $64,035

  • 23 · Insurance

    total $9,409 · program services $9,409

  • 24a · Other expenses: MISC OP & MAINT. SERVIC

    total $41,791 · program services $41,791

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $23,590 · end of year $41,401

  • 4 · Accounts receivable

    beginning of year $59,503 · end of year $45,843

  • 9 · Prepaid expenses and deferred charges

    beginning of year $478 · end of year $75

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

    $2,625,611

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

    $798,463

  • 10c · Land, buildings and equipment, net

    beginning of year $1,891,183 · end of year $1,827,148

  • 15 · Other assets

    beginning of year $46,762 · end of year $52,570

  • 17 · Accounts payable and accrued expenses

    beginning of year $110,409 · end of year $145,352

  • 21 · Escrow or custodial account liability

    beginning of year $3,357 · end of year $3,357

  • 25 · Other liabilities

    beginning of year $243,205 · end of year $243,205

  • 27 · Net assets without donor restrictions

    beginning of year $1,664,545 · end of year $1,575,123

Mission and programs · 2022

Mission

TO RENOVATE AND OPERATE A RESIDENTIAL FACILITY FOR ADULTS WITH SEVERE MENTAL ILLNESS.

  • TSI PROPS WAS ORGANIZED TO PURCHASE AND HOLD A RESIDENCE TO HOUSE 12 ADULTS IN CORONA, NY ("THE PROPERTY"). TSINY OPERATES A SUPPORTED APARTMENT PROGRAM FOR PERSONS WITH DEVELOPMENTAL DISABILITIES ON THE PROPERTY.

    Expenses $142,990 · Revenue $43,361

As filed on the 2022 return.

Listed in Part VII

  • ABBEY GOLDSTEIN ESQ

    PRESIDENT

    Total calculated
    $0
    Hours/week
    0.2 + 1 related

  • VLADIMIR GASCA MD

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    0.2 + 1.4 related

  • PAUL WILSON

    SECRETARY/TREASURER

    Total calculated
    $0
    Hours/week
    0.2 + 1.4 related

  • LARRY S GRUBLER PSYD

    ASSIST SECRET(NONVOTING)/CEO-TSINY

    Total calculated
    $415,087
    From this org
    $0
    From related orgs
    $314,460
    Other
    $100,627
    Hours/week
    0.5 + 34.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $314,460 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $18,868 related
    Nontaxable benefits
    $0 + $81,759 related
    Filer's total
    $0 + $415,087 related

  • STANLEY L CORFMAN CPA

    CFO-TSINY

    Total calculated
    $304,944
    From this org
    $0
    From related orgs
    $231,018
    Other
    $73,926
    Hours/week
    0.5 + 34.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $231,018 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $13,861 related
    Nontaxable benefits
    $0 + $60,065 related
    Filer's total
    $0 + $304,944 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
LARRY S. GRUBLER IS THE CEO OF TRANSITIONAL SERVICES OF NEW YORK INC. ("TSINY") AND IS COMPENSATED BY TRANSITIONAL SERVICES OF NEW YORK INC. WHICH IS A RELATED ENTITY OF TSI PROPERTIES, INC. LARRY S. GRUBLER IS THE ASSISTANT SECRETARY OF TSI PROPERTIES, INC. HIS COMPENSATION IS A MATTER BETWEEN THE CEO AND THE TSINY BOARD OF DIRECTORS. IN DETERMINING THE CEO'S COMPENSATION, THE TSINY BOARD OF DIRECTORS REVIEWS SALARY INFORMATION FOR OTHER CEO'S WITH SIMILAR AGENCIES ORIGINALLY OBTAINED FROM A COMMISSIONED SALARY SURVEY AND UPDATED PERIODICALLY FROM PUBLIC SOURCES. THE RESULTS OF THE COMPENSATION ARE DOCUMENTED IN THE BOARD MEETING MINUTES.

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.

Related corporations and trusts

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

Provenance

Return type
form_990
Tax year
2022
Filed
8 May 2024
IRS schema version
2022v5.0
Source object
202401309349302125

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