Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1a · Federated campaigns

  $0

• 1b · Membership dues

  $0

• 1c · Fundraising events

  $0

• 1d · Related organizations

  $0

• 1e · Government grants (contributions)

  $161,404

• 1f · All other contributions, gifts and grants

  $50,000

• 1g · Noncash contributions included above

  $0

• 2a · Program service revenue: Rental Income

  total $1,132,151 · related or exempt $1,132,151 · unrelated business $0 · excluded $0

• 2b · Program service revenue: Other Program Income

  total $33,999 · related or exempt $33,999 · unrelated business $0 · excluded $0

• 2f · All other program service revenue

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 3 · Investment income

  total $11,398 · related or exempt $0 · unrelated business $0 · excluded $11,398

• 4 · Income from investment of tax-exempt bond proceeds

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 5 · Royalties

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 6c · Rental income or loss

  real property $0 · personal property $0

• 7a · Gross sales of assets other than inventory

  securities $0 · other assets $102,000

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

  securities $0 · other assets $19,559

• 7c · Gain or loss

  securities $0 · other assets $82,441

• 7d · Net gain or loss

  total $82,441 · related or exempt $0 · unrelated business $0 · excluded $82,441

• 8a · Fundraising events: contributions included on line 1c

  $0

• 11e · Other revenue, total

  $0

Functional expenses

Part IX, the statement of functional expenses.

• 16 · Occupancy

  total $731,608 · program services $731,608

• 20 · Interest

  total $230,401 · program services $230,401

• 22 · Depreciation, depletion and amortization

  total $623,193 · program services $623,193

• 23 · Insurance

  total $46,922 · program services $46,922

• 24a · Other expenses: Contracted Services

  total $179,696 · program services $179,696 · management and general $0 · fundraising $0

• 24b · Other expenses: Other Expenses

  total $4,586 · program services $4,586 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $1,600,851 · end of year $1,714,313

• 4 · Accounts receivable

  beginning of year $13,686 · end of year $69,984

• 9 · Prepaid expenses and deferred charges

  beginning of year $38,063 · end of year $28,690

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

  $22,913,373

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

  $6,603,561

• 10c · Land, buildings and equipment, net

  beginning of year $15,874,918 · end of year $16,309,812

• 15 · Other assets

  beginning of year $633,212 · end of year $660,482

• 17 · Accounts payable and accrued expenses

  beginning of year $92,856 · end of year $183,717

• 19 · Deferred revenue

  beginning of year $103,234 · end of year $99,776

• 23 · Secured mortgages and notes payable

  beginning of year $1,522,791 · end of year $1,452,446

• 25 · Other liabilities

  beginning of year $1,044,007 · end of year $1,994,513

• 27 · Net assets without donor restrictions

  beginning of year -$3,953,896 · end of year -$4,460,313

• 28 · Net assets with donor restrictions

  beginning of year $19,351,738 · end of year $19,513,142

The filer's explanations (Part III)

Schedule J, Part I, Line 3

The related organization's board of directors utilize the services of an independent human relations firm to conduct a market analysis of the CEO's compensation. State, regional, and National data is utilized in the analysis of non-profits of comparable size and complexity. The data is reviewed by the executive committee and the entire board. A comprehensive evaluation for the CEO's performance is conducted annually at which time the entire board determines the CEO's compensation for the upcoming year. Goals are set annually and their achievement is used to determine both the base compensation as well as any incentive compensation. The CEO uses a similar process, using the same HR firm to set compensations for other key employees. Goals for other key employees are also set in advance for use in annual performance evaluation and to determine incentive compensation awards.