Totals
- Total revenue
- $10,891,827
- Total expenses
- $14,280,861
- Contributions and grants received
- $0
- Grants paid
- $70,000
- Program service revenue
- $9,874,868
- Investment income
- $84,070
- Other revenue
- $932,889
- Total assets, end of year
- $106,595,603
- Total liabilities, end of year
- $114,112,213
- Net assets or fund balances, end of year
- -$7,516,610
- Program services expenses (Part IX)
- $12,578,792
- Management and general expenses
- $1,702,069
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $12,578,792
Program services were 88.1% 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: HOUSING RENTAL
total $8,779,718 · related or exempt $8,779,718
-
2b · Program service revenue: OTHER FEES
total $854,511 · related or exempt $854,511
-
2c · Program service revenue: HOUSING RENTAL FEES
total $240,639 · related or exempt $240,639
-
3 · Investment income
total $84,070 · excluded $84,070
-
11a · Other revenue: 929 N WOLFE STREET LLC
total $932,889 · related or exempt $932,889
-
11e · Other revenue, total
$932,889
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $70,000 · program services $70,000
-
5 · Compensation of officers, directors and key employees
total $12,764 · management and general $12,764
-
7 · Other salaries and wages
total $614,059 · program services $331,554 · management and general $282,505
-
9 · Other employee benefits
total $110,259 · program services $59,533 · management and general $50,726
-
10 · Payroll taxes
total $43,518 · program services $23,497 · management and general $20,021
-
11a · Fees: management
total $356,964 · program services $356,964
-
11b · Fees: legal
total $218,468 · management and general $218,468
-
11c · Fees: accounting
total $32,345 · management and general $32,345
-
11g · Fees: other
total $486,194 · program services $312,150 · management and general $174,044
-
12 · Advertising and promotion
total $68,602 · management and general $68,602
-
13 · Office expenses
total $473,286 · program services $28,001 · management and general $445,285
-
14 · Information technology
total $41,175 · program services $41,175
-
16 · Occupancy
total $2,563,516 · program services $2,563,516
-
20 · Interest
total $3,729,712 · program services $3,729,712
-
22 · Depreciation, depletion and amortization
total $3,324,745 · program services $3,324,745
-
24a · Other expenses: GROUND LEASE
total $1,645,185 · program services $1,645,185
-
24b · Other expenses: OTHER MISCELLANEOUS
total $397,309 · management and general $397,309
-
24c · Other expenses: DUE DILIGENCE
total $92,760 · program services $92,760
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $1,679,543 · end of year $1,870,573
-
4 · Accounts receivable
beginning of year $365 · end of year $4,424
-
9 · Prepaid expenses and deferred charges
beginning of year $170,865 · end of year $167,602
-
10a · Land, buildings and equipment: cost or other basis
$83,320,742
-
10b · Land, buildings and equipment: accumulated depreciation
$16,470,433
-
10c · Land, buildings and equipment, net
beginning of year $40,630,328 · end of year $66,850,309
-
15 · Other assets
beginning of year $32,626,487 · end of year $37,702,695
-
17 · Accounts payable and accrued expenses
beginning of year $4,338,907 · end of year $5,921,129
-
20 · Tax-exempt bond liabilities
beginning of year $56,520,000 · end of year $56,520,000
-
23 · Secured mortgages and notes payable
beginning of year $1,425,000 · end of year $30,277,026
-
25 · Other liabilities
beginning of year $16,951,257 · end of year $21,394,058
-
27 · Net assets without donor restrictions
beginning of year -$4,127,576 · end of year -$7,516,610
Mission and programs · 2022
Mission
TO PARTNER WITH PUBLIC AND CHARITABLE ENTITIES TO DEVELOP SERVICES, ACTIVITIES, AND PROGRAMS DESIGNED FOR SENIOR HOUSING, EDUCATION, HEALTH CARE FACILITIES, AFFORDABLE HOUSING, AND GOVERNMENTS.
-
STUDENT HOUSING FACILITIES - LEASE AND MANAGEMENT OF STUDENT HOUSING CONSISTING OF 246 BEDS IN RESIDENTIAL PROPERTIES LOCATED IN THE VICINITY OF FRANKLIN & MARSHALL COLLEGE IN LANCASTER, PA UNDER A MASTER LEASE AGREEMENT WITH THE COLLEGE.
Expenses $1,764,974 · Revenue $2,553,122
-
STUDENT HOUSING FACILITIES - LEASE AND MANAGEMENT OF STUDENT HOUSING CONSISTING OF 238 BEDS IN RESIDENTIAL PROPERTY LOCATED ON THE CAMPUS OF CLAREMONT GRADUATE UNIVERSITY IN CLAREMONT, CALIFORNIA UNDER A MASTER LEASE AGREEMENT WITH THE COLLEGE.
Expenses $6,253,053 · Revenue $3,127,622
-
STUDENT HOUSING AND PARKING FACILITIES - LEASE AND MANAGEMENT OF STUDENT HOUSING LOCATED IN LINCOLN, NEBRASKA NEAR THE THE CAMPUS OF THE UNIVERSITY OF NEBRASKA.
Expenses $4,061,856 · Revenue $3,339,612
-
PROVIDING SERVICES, ACTIVITIES AND PROGRAMS DEDICATED TO FURTHERING COMMUNITY DEVELOPMENT, EDUCATION, AND LESSENING THE BURDENS OF GOVERNMENT.
Expenses $498,909 · Grants $70,000 · Revenue $854,511
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Kim WyattKIM WYATT
EXECUTIVE DI
- Total calculated
- $12,764
- From this org
- $12,764
- From related orgs
- $0
- Other
- $0
- Hours/week
- 5
-
Greg FawcettGREG FAWCETT
SECRETARY
- Total calculated
- $0
-
Eva HillEVA HILL
DIRECTOR
- Total calculated
- $0
-
Andrew KittlesonANDREW KITTLESON
DIRECTOR
- Total calculated
- $0
-
Jeff KleinJEFF KLEIN
PRESIDENT
- Total calculated
- $0
-
Jim MooreJIM MOORE
TREASURER
- Total calculated
- $0
-
Louise WallerLOUISE WALLER
DIRECTOR
- Total calculated
- $0
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
-
OPERATIONS
-
$11,000
OPERATIONS
-
$7,000
OPERATIONS
-
OPERATIONS
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.
Disregarded entities
Part I: entities that legally are the filer and file no return of their own.
-
P3 FMC HOLDINGS LLC
HOUSING · PA · income $2,556,906 · assets $28,183,799
Directly controlled by P3 FDN
-
P3 CLAREMONT HOLDINGS LLC
HOUSING · CA · income $3,208,795 · assets $45,073,798
Directly controlled by P3 FDN
-
AF-18R-LINCOLN LLC
HOUSING · NE · income $3,339,612 · assets $31,613,549
Directly controlled by P3 FDN
Related partnerships
Part III: related organizations taxable as a partnership, with the filer's share.
-
CPTC ACQUISTION LLC
EXCLUDED · HEALTHCARE · CA
Directly controlled by P3 CPTC HOLDINGS LLC
-
929 N WOLFE STREET LLC
RELATED · HOUSING · MD · 75% owned · share of income $932,889 · share of assets $34,527,848 · general or managing partner
Related corporations and trusts
Part IV: related organizations taxable as a corporation or trust.
-
P3 CPTC HOLDINGS LLC
C CORP · INVESTMENT · DE
Directly controlled by P3 FDN
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 11 November 2023
- IRS schema version
- 2022v5.0
- Source object
- 202313199349318521
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