Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: RENTAL INCOME

  total $5,875,828 · related or exempt $5,781,661 · unrelated business $94,167

• 2b · Program service revenue: MANAGEMENT INCOME

  total $1,416,184 · related or exempt $1,416,184

• 2c · Program service revenue: CHAPTER LOAN INTEREST

  total $1,146,189 · related or exempt $1,146,189

• 3 · Investment income

  total $153,655 · unrelated business $153,655

• 7a · Gross sales of assets other than inventory

  securities $660,973 · other assets $2,976,212

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

  securities $556,819 · other assets $5,909,337

• 7c · Gain or loss

  securities $104,154 · other assets -$2,933,125

• 7d · Net gain or loss

  total -$2,828,971 · unrelated business $104,154 · excluded -$2,933,125

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $3,600,000

• 11b · Fees: legal

  total $59,874

• 11c · Fees: accounting

  total $447,160

• 11f · Fees: investment management

  total $15,703

• 11g · Fees: other

  total $193,036

• 13 · Office expenses

  total $22,329

• 16 · Occupancy

  total $47,000

• 17 · Travel

  total $112,301

• 20 · Interest

  total $1,485,879

• 22 · Depreciation, depletion and amortization

  total $1,157,397

• 23 · Insurance

  total $53,042

• 24a · Other expenses: REIMBURSED SALARIES AND

  total $1,316,838

• 24b · Other expenses: INCOME TAX EXPENSE

  total $4,055

• 24c · Other expenses: BAD DEBT

  total -$3,783

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $3,749,711 · end of year $985,673

• 2 · Savings and temporary cash investments

  beginning of year $2,093,586 · end of year $2,173,719

• 4 · Accounts receivable

  beginning of year $739,559 · end of year $755,450

• 7 · Other notes and loans receivable

  beginning of year $14,229,101 · end of year $13,486,766

• 9 · Prepaid expenses and deferred charges

  beginning of year $188,520 · end of year $163,418

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

  $44,644,801

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

  $13,160,373

• 10c · Land, buildings and equipment, net

  beginning of year $32,280,769 · end of year $31,484,428

• 11 · Investments: publicly traded securities

  beginning of year $2,816,314 · end of year $3,025,126

• 15 · Other assets

  beginning of year $77,477 · end of year $22,502

• 17 · Accounts payable and accrued expenses

  beginning of year $4,065,929 · end of year $4,123,181

• 23 · Secured mortgages and notes payable

  beginning of year $31,416,111 · end of year $29,998,187

• 25 · Other liabilities

  beginning of year $44,800 · end of year $288,262

• 27 · Net assets without donor restrictions

  beginning of year $20,648,197 · end of year $17,687,452

The filer's explanations (Part III)

PART I, LINE 3

THE EXECUTIVE BOARD REVIEWS THE EXECUTIVE DIRECTOR'S PERFORMANCE AND VOTES ON COMPENSATION ACCORDINGLY. THE EXECUTIVE BOARD USES DATA OF COMPARABLE COMPENSATION FOR SIMILARLY QUALIFIED PERSONS IN FUNCTIONALLY COMPARABLE POSITIONS AT SIMILARLY SITUATION ORGANIZATIONS. THE DIRECTOR OF FINANCE IS SENT A LETTER DETAILING ANY SALARY OR BENEFIT CHANGES BY THE EXECUTIVE DIRECTOR.