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← COLLEGE PROPERTIES OF LORAIN COUNTY INC

Form 990 for tax year 2024

Filed by COLLEGE PROPERTIES OF LORAIN COUNTY INC.

Totals

Total revenue
$4,816,764
Total expenses
$6,895,677
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$4,816,360
Investment income
$404
Other revenue
$0
Total assets, end of year
$36,878,388
Total liabilities, end of year
$40,147,729
Net assets or fund balances, end of year
-$3,269,341
Program services expenses (Part IX)
$5,815,287
Management and general expenses
$1,080,390
Fundraising expenses
$0
Program service expenses (Part III)
$5,815,287

Program services were 84.3% 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.

  • 1a · Federated campaigns

    $0

  • 1b · Membership dues

    $0

  • 1c · Fundraising events

    $0

  • 1d · Related organizations

    $0

  • 1e · Government grants (contributions)

    $0

  • 1f · All other contributions, gifts and grants

    $0

  • 1g · Noncash contributions included above

    $0

  • 2a · Program service revenue: HOTEL OPERATIONS

    total $4,463,683 · related or exempt $4,463,683 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: RENTAL INCOME

    total $352,677 · related or exempt $352,677 · unrelated business $0 · excluded $0

  • 2c · Program service revenue

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

  • 2d · Program service revenue

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

  • 2e · Program service revenue

    total $0 · related or exempt $0 · 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 $404 · related or exempt $0 · unrelated business $0 · excluded $404

  • 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

  • 6a · Gross rents

    real property $0 · personal property $0

  • 6b · Less rental expenses

    real property $0 · personal property $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

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

  • 7a · Gross sales of assets other than inventory

    securities $0 · other assets $0

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

    securities $0 · other assets $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 7d · Net gain or loss

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

  • 8a · Fundraising events: gross income

    $0

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

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0 · unrelated business $0 · excluded $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

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

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

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

  • 11d · All other revenue

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

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $0 · program services $0

  • 2 · Grants to domestic individuals

    total $0 · program services $0

  • 4 · Benefits paid to or for members

    total $0 · program services $0

  • 5 · Compensation of officers, directors and key employees

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 6 · Compensation of disqualified persons

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 7 · Other salaries and wages

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 8 · Pension plan contributions

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 9 · Other employee benefits

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 10 · Payroll taxes

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11a · Fees: management

    total $643,304 · program services $0 · management and general $643,304 · fundraising $0

  • 11c · Fees: accounting

    total $3,700 · management and general $3,700

  • 11g · Fees: other

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 12 · Advertising and promotion

    total $297,444 · program services $297,444

  • 14 · Information technology

    total $143,137 · program services $143,137

  • 16 · Occupancy

    total $922,878 · program services $922,878

  • 19 · Conferences, conventions and meetings

    total $433,386 · management and general $433,386

  • 20 · Interest

    total $770,635 · program services $770,635

  • 22 · Depreciation, depletion and amortization

    total $1,374,819 · program services $1,374,819

  • 23 · Insurance

    total $115,647 · program services $115,647

  • 24a · Other expenses: Food and Beverage

    total $1,457,138 · program services $1,457,138

  • 24b · Other expenses: Rooms

    total $724,917 · program services $724,917

  • 24c · Other expenses: Cost of Supplies Used

    total $8,672 · program services $8,672

  • 24e · All other expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,627 · end of year $3,628

  • 2 · Savings and temporary cash investments

    beginning of year $397,195 · end of year $723,516

  • 4 · Accounts receivable

    beginning of year $320,215 · end of year $248,635

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $30,237 · end of year $38,664

  • 9 · Prepaid expenses and deferred charges

    beginning of year $0 · end of year $0

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

    $47,600,325

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

    $12,066,507

  • 10c · Land, buildings and equipment, net

    beginning of year $36,908,637 · end of year $35,533,818

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $330,127 · end of year $330,127

  • 17 · Accounts payable and accrued expenses

    beginning of year $772,391 · end of year $1,729,009

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $38,270,575 · end of year $38,418,720

  • 27 · Net assets without donor restrictions

    beginning of year -$1,052,928 · end of year -$3,269,341

Mission and programs · 2024

Mission

SUPPORTING ORGANIZATION OF OBERLIN COLLEGE USED FOR THE HOLDING OF REAL ESTATE FOR INVESTMENT PURPOSES AND THE TASTEFUL DEVELOPMENT OF THE COMMUNITY.

  • COLLEGE PROPERTIES OF NORTHERN OHIO IS A SUPPORTING ORGANIZATION OF OBERLIN COLLEGE USED FOR THE HOLDING OF REAL ESTATE FOR INVESTMENT PURPOSES.

    Expenses $5,815,287 · Revenue $4,816,360

As filed on the 2024 return.

Listed in Part VII

  • REBECCA VAZQUEZ-SKILLINGS

    PRESIDENT/TRUSTEE

    Total calculated
    $362,701
    From this org
    $0
    From related orgs
    $287,608
    Other
    $75,093
    Hours/week
    2 + 42 related

    Schedule J breakdown matched by us

    Base
    $0 + $287,194 related
    Bonus
    $0
    Other
    $0 + $414 related
    Deferred
    $0 + $26,266 related
    Nontaxable benefits
    $0 + $48,827 related
    Filer's total
    $0 + $362,701 related

  • FRED CUMMINGS

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • ROBERT LEMLE

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • STEWART KOHL

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • APRIL HERNER

    TREASURER

    Total calculated
    $182,294
    From this org
    $0
    From related orgs
    $166,309
    Other
    $15,985
    Hours/week
    2 + 44 related

    Schedule J breakdown matched by us

    Base
    $0 + $166,107 related
    Bonus
    $0
    Other
    $0 + $202 related
    Deferred
    $0 + $15,288 related
    Nontaxable benefits
    $0 + $697 related
    Filer's total
    $0 + $182,294 related

  • JULIENNE MELVIN

    SECRETARY

    Total calculated
    $239,953
    From this org
    $0
    From related orgs
    $183,300
    Other
    $56,653
    Hours/week
    2 + 44 related

    Schedule J breakdown matched by us

    Base
    $0 + $182,171 related
    Bonus
    $0
    Other
    $0 + $1,129 related
    Deferred
    $0 + $19,692 related
    Nontaxable benefits
    $0 + $36,961 related
    Filer's total
    $0 + $239,953 related

  • KEVIN BROWN

    VICE PRESIDENT

    Total calculated
    $231,102
    From this org
    $0
    From related orgs
    $209,560
    Other
    $21,542
    Hours/week
    2 + 42 related

    Schedule J breakdown matched by us

    Base
    $0 + $208,786 related
    Bonus
    $0
    Other
    $0 + $774 related
    Deferred
    $0 + $20,703 related
    Nontaxable benefits
    $0 + $839 related
    Filer's total
    $0 + $231,102 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

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.

Provenance

Return type
form_990
Tax year
2024
Filed
12 November 2025
IRS schema version
2024v5.1
Source object
202513169349302266

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