Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1f · All other contributions, gifts and grants

  $155

• 2a · Program service revenue: BUILDING LEASE REVENUE

  total $1,437,303 · related or exempt $1,437,303

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $1,033,142 · program services $1,033,142

• 11c · Fees: accounting

  total $35,000 · program services $35,000

• 13 · Office expenses

  total $175 · program services $175

• 20 · Interest

  total $380,813 · program services $380,813

• 22 · Depreciation, depletion and amortization

  total $639,388 · program services $639,388

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $212,262 · end of year $42,086

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

  $24,047,564

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

  $3,489,778

• 10c · Land, buildings and equipment, net

  beginning of year $21,156,034 · end of year $20,557,786

• 15 · Other assets

  beginning of year $172,303 · end of year $330,807

• 23 · Secured mortgages and notes payable

  beginning of year $22,852,346 · end of year $22,893,486

• 27 · Net assets without donor restrictions

  beginning of year -$1,311,747 · end of year -$1,962,807

The filer's explanations (Part III)

PART I, LINE 3

THE DIRECTOR (AS PRESIDENT AND CEO OF THE RELATED ORGANIZATION), VICE PRESIDENT/SECRETARY, AND HIGHLY COMPENSATED EMPLOYEE ARE COMPENSATED BY A RELATED ORGANIZATION. THE RELATED ORGANIZATION'S BOARD OF DIRECTORS ESTABLISHES COMPENSATION FOR THE DIRECTOR. THE DIRECTOR, IN TURN, ESTABLISHES COMPENSATION FOR OFFICERS AND EXECUTIVES WITHIN THAT ORGANIZATION. THE FOLLOWING METHODS ARE USED BY THE RELATED ORGANIZATION TO ESTABLISH THE DIRECTOR'S COMPENSATION: - FORM 990 OF OTHER ORGANIZATIONS - COMPENSATION SURVEY OR STUDY - APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE

SCHEDULE J, PART II:

THE RELATED PARTY MAY PROVIDE OFFICERS AND EXECUTIVES WITH LUMP-SUM BONUSES BASED ON THE INDIVIDUAL'S PERFORMANCE AGAINST PRE-ESTABLISHED GOALS, RETENTION CRITERIA DURING A MAJOR ORGANIZATION TRANSITION, THE RESULTS ACHIEVED BY THE ORGANIZATION, AND/OR ONE-TIME SPECIAL RECOGNITION FOR SIGNIFICANT EVENTS OUTSIDE OF THE NORMAL COURSE OF BUSINESS (E.G., COVID-19 PANDEMIC). AT THE RELATED PARTY'S DISCRETION, BONUSES MAY BE PAID IN A CALENDAR YEAR SUBSEQUENT TO THE YEAR IN WHICH THEY ARE EARNED. AS SUCH, TOTAL COMPENSATION PAID IN A GIVEN YEAR MAY BE HIGHER THAN COMPENSATION EARNED IN A 12-MONTH PERIOD. COMPENSATION FOR THE DIRECTOR IS PROPOSED EACH YEAR BY THE CHAIR OF THE BOARD OF DIRECTORS OF THE RELATED PARTY AND IS SUBJECT TO APPROVAL BY THE BOARD'S EXECUTIVE COMMITTEE. COMPENSATION IS BASED ON VARIOUS INTERNAL MEASURES AND EXTERNAL MARKET FACTORS, INCLUDING EXECUTIVE-LEVEL COMPENSATION PRACTICES OF COMPARABLY-SIZED NONPROFITS IN THE NORTH TEXAS COMMUNITY.