Form 990 for tax year 2024

Filed by ANDERSON PROPERTY CORPORATION.

Totals

Total revenue: $9,327,058
Total expenses: $617,344
Contributions and grants received: $0
Grants paid: $0
Program service revenue: $66,391
Investment income: $667
Other revenue: $9,260,000
Total assets, end of year: $0
Total liabilities, end of year: $0
Net assets or fund balances, end of year: $0
Program services expenses (Part IX): $586,477
Management and general expenses: $30,867
Fundraising expenses: $0
Program service expenses (Part III): $586,477

Program services were 95.0% 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: RENTAL INCOME

total $66,391 · related or exempt $66,391
2f · All other program service revenue

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
3 · Investment income

total $667 · excluded $667
6c · Rental income or loss

real property $0 · personal property $0
7c · Gain or loss

securities $0 · other assets $0
8c · Net income from fundraising events

total $0
11a · Other revenue: GAIN ON DEBT CANCELLATION

total $9,260,000 · excluded $9,260,000
11d · All other revenue

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
11e · Other revenue, total

$9,260,000

Functional expenses

Part IX, the statement of functional expenses.

11c · Fees: accounting

total $12,650 · management and general $12,650
11g · Fees: other

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

total $376,592 · program services $369,780 · management and general $6,812
22 · Depreciation, depletion and amortization

total $228,102 · program services $216,697 · management and general $11,405
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 $24,422 · end of year $0
2 · Savings and temporary cash investments

beginning of year $297,935 · end of year $0
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
10a · Land, buildings and equipment: cost or other basis

$0
10b · Land, buildings and equipment: accumulated depreciation

$0
10c · Land, buildings and equipment, net

beginning of year $6,417,555 · end of year $0
12 · Investments: other securities

beginning of year $0
13 · Investments: program-related

beginning of year $0
15 · Other assets

beginning of year $0 · end of year $0
22 · Loans and payables to officers and key people

beginning of year $0 · end of year $0
23 · Secured mortgages and notes payable

beginning of year $8,933,319 · end of year $0
25 · Other liabilities

beginning of year $0 · end of year $0
27 · Net assets without donor restrictions

beginning of year -$2,193,407 · end of year $0

Mission and programs · 2024

Mission

A SPECIAL PURPOSE ENTITY FOR NEW MARKET TAX CREDITS FINANCING TO HOLD THE REAL ASSETS OF SHASTA COMMUNITY HEALTH CENTER IN ORDER TO PROVIDE HEALTHCARE SERVICES TO THEIR PATIENTS.

Activities or mission (Part I)

ANDERSON PROPERTY CORPORATION (APC), IS A WHOLLY OWNED SUBSIDIARY OF SHASTA COMMUNITY HEALTH CENTER (SCHC). APC SUPPORTS SCHC BY HOLDING PROPERTY & EQUIPMENT AND LEASING IT TO SCHC.

THE PURPOSE OF ANDERSON PROPERTY CORPORATION IS TO SUPPORT THE CHARITABLE AND EDUCATIONAL ACTIVITIES OF SHASTA COMMUNITY HEALTH CENTER (SCHC) THROUGH THE ORGANIZATION'S DEVELOPMENT, FINANCE AND OWNERSHIP OF CLINIC FACILITIES FOR THE BENEFIT OF SCHC.

Expenses $586,477 · Revenue $66,391

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

Kerry FaskingKERRY FASKING

CHAIR

Total calculated

$0

Hours/week

0.1 + 4.3 related
Margaret BeckMARGARET BECK

SECRETARY

Total calculated

$0

Hours/week

0.1 + 4.3 related
Robert FoldenROBERT FOLDEN

VICE CHAIR

Total calculated

$0

Hours/week

0.1 + 4.1 related
Wendy LongwellWENDY LONGWELL

TREASURER

Total calculated

$0

Hours/week

0.1 + 4.1 related
Anastasiia BorysiukANASTASIIA BORYSIUK

CONSUMER MEMBER BEG 04/24

Total calculated

$0

Hours/week

0.1 + 3.1 related
Brian BradleyBRIAN BRADLEY

COMMUNITY MEMBER BEG 11/24

Total calculated

$0

Hours/week

0.1 + 3.1 related
Casey FatchCASEY FATCH

COMMUNITY MEMBER END 08/24

Total calculated

$0

Hours/week

0.1 + 3.1 related
Christy ColemanCHRISTY COLEMAN

COMMUNITY MEMBER

Total calculated

$0

Hours/week

0.1 + 3.1 related
Dot Van CleaveDOT VAN CLEAVE

CONSUMER MEMBER

Total calculated

$0

Hours/week

0.1 + 3.1 related
Elizabeth OlsonELIZABETH OLSON

CONSUMER MEMBER END 01/24

Total calculated

$0

Hours/week

0.1 + 3.1 related
John Di PerryJOHN DI PERRY

CONSUMER MEMBER

Total calculated

$0

Hours/week

0.1 + 3.1 related
John KennyJOHN KENNY

CONSUMER MEMBER

Total calculated

$0

Hours/week

0.1 + 3.1 related
Lawrence Vogt SrLAWRENCE VOGT SR

CONSUMER MEMBER BEG 07/24

Total calculated

$0

Hours/week

0.1 + 3.1 related
Lori GoyneLORI GOYNE

EX OFFICIO MEMBER

Total calculated

$0

Hours/week

0.1 + 3.3 related
Mike MangasMIKE MANGAS

CONSUMER MEMBER

Total calculated

$0

Hours/week

0.1 + 3.1 related
Ray HambyRAY HAMBY

CONSUMER MEMBER END 01/24

Total calculated

$0

Hours/week

0.1 + 3.1 related
Samantha BretonSAMANTHA BRETON

CONSUMER MEMBER

Total calculated

$0

Hours/week

0.1 + 3.1 related
Stephen BellSTEPHEN BELL

CONSUMER MEMBER BEG 02/24

Total calculated

$0

Hours/week

0.1 + 3.3 related
C Dean GermanoC DEAN GERMANO

CHIEF EXECUTIVE OFFICER END 03/24

Total calculated

$685,098

From this org

$0

From related orgs

$644,731

Other

$40,367

Hours/week

0.1 + 40.3 related

Schedule J breakdown matched by us

Base

$0 + $85,662 related

Bonus

$0 + $67,534 related

Other

$0 + $491,535 related

Deferred

$0 + $37,629 related

Nontaxable benefits

$0 + $2,738 related

Filer's total

$0 + $685,098 related
Daniel SantiDANIEL SANTI

CHIEF FINANCIAL OFFICER

Total calculated

$265,075

From this org

$0

From related orgs

$233,261

Other

$31,814

Hours/week

0.1 + 40.3 related

Schedule J breakdown matched by us

Base

$0 + $222,636 related

Bonus

$0 + $10,625 related

Other

$0

Deferred

$0 + $2,600 related

Nontaxable benefits

$0 + $29,214 related

Filer's total

$0 + $265,075 related
J Brandon ThornockJ BRANDON THORNOCK

CHIEF EXECUTIVE OFFICER BEG 03/24

Total calculated

$393,842

From this org

$0

From related orgs

$349,750

Other

$44,092

Hours/week

0.1 + 40.3 related

Schedule J breakdown matched by us

Base

$0 + $327,955 related

Bonus

$0 + $21,795 related

Other

$0

Deferred

$0 + $14,878 related

Nontaxable benefits

$0 + $29,214 related

Filer's total

$0 + $393,842 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

4b · Supplemental nonqualified retirement plan

Answered no

4a · Severance or change-of-control payment
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

The filer's explanations (Part III)

Schedule J, Part I, Line 3 Arrangement used to establish the top management official's compensation: CENTER (SCHC), A RELATED PARTY. SCHC USED THE FOLLOWING RESOURCES TO DETERMINE THE CEO'S COMPENSATION: - COMPENSATION COMMITTEE - FORM 990 OF OTHER ORGANIZATIONS - COMPENSATION SURVEY OR STUDY - APPROVAL BY BOARD OR COMPENSATION COMMITTEE - WRITTEN EMPLOYMENT CONTRACT
Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan: C. DEAN GERMANO, CEO, IS COVERED BY A 457(F) SUPPLEMENTAL RETIREMENT AGREEMENT FROM SHASTA COMMUNITY HEALTH CENTER WHICH WAS FUNDED THIS YEAR BY $33,453. C. DEAN GERMANO RECEIVED A DISTRIBUTION OF $491,535, WHICH WAS VESTED IN THE CURRENT YEAR AND WAS INCLUDED IN HIS W-2. $491,535 OF THE TOTAL VESTED AMOUNT WAS REPORTED AS DEFERRED COMPENSATION ON A PRIOR FORM 990. THIS FUND WAS CLOSED OUT WHEN DEAN RETIRED IN MARCH OF 2024.

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.

SHASTA COMMUNITY HEALTH CENTER

501(c)(3) · HEALTH CARE · CA

Directly controlled by NA
SHASTA SUPPORTIVE HOUSING AND SERVICES

501(c)(3) · HOUSING · CA

Directly controlled by SHASTA CHC
SCHC WBC Prop Corp

501(c)(3) · RE Holding · CA

Directly controlled by NA
THE CENTER OF HOPE

501(c)(3) · RE HOLDING · CA

Directly controlled by NA

Assets distributed on this return

Schedule N, as filed: what the organization did with its assets when it liquidated or dissolved, or disposed of more than a quarter of them, and who received them. A recipient with an EIN is usually a successor organization; filers also list expenses such as legal fees here.

4 distributions to recipients named as people, $13,029,614 in total. Counted where the filer named the recipient as a person, as filed. Who received them, and what, are not published.

Provenance

Return type: form_990
Tax year: 2024
Filed: 13 October 2025
IRS schema version: 2024v5.1
Source object: 202502869349301915

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