Ppl Properties

“The board was provided the form 990 before it was signed and filed.”

“The organization discusses and discloses conflicts of interest as they arise. Any new board members are required to disclose conflicts when joining and annually thereafter.”

“All documents are made available upon request.”

“Contractors: program service expenses 1,249,169. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,249,169.”

“Gain on sale of college house 171,963. Transfer of entities ownership, net 396,621. Transfer, noncontrolling interest -1,746,622. Distributions -18,842.”

“No change from the prior year.”

“Emma norton ppl lp, a tax-exempt controlled partnership, which is the managing general partner of emma norton, hereby elects, pursuant to irc section 168(h)(6)(f)(ii), not to be treated as a tax-exempt partnership under the rules of section 168(h)(6)(f) beginning with the tax year ending december 31, 2023. Any gain recognized on the disposition by ppl properties, the controlling tax-exempt entity, of its interest in emma norton ppl lp or any dividend or interest received by ppl properties from ppl properties related to this investment will be treated as unrelated business taxable income for purposes of section 511. Accordingly, the residential rental property owned by emma norton ppl lp will not be considered tax-exempt use property under section 168(h).”

“Nellie francis court lp, a tax-exempt controlled partnership, which is the managing general partner of nellie franics court, hereby elects, pursuant to irc section 168(h)(6)(f)(ii), not to be treated as a tax-exempt entity under the rules of section 168(h)(6)(f) beginning with the tax year ending december 31, 2023. Any gain recognized on the dispostion by ppl properties, the controlling tax-entity, of its interest in nellie franics court lp or any dividend or interest received by ppl properties from nellie francis court lp related to this investment will be treated as unrelated business taxable income for purposes of section 511. Accordingly, the residential rental property owned by nellie franics court lp will not be considered tax-exempt use property under section 168(h).”

“Pursuant to treasury regulations sections 301.9100-7t(a)(2)(i) and (3), ppl service corporation, a for-profit subsidiary of project for pride in living, inc., a minnesota not-for-profit organization, hereby elects under internal revenue code section 168(h)(6)(f)(ii) as follows: (i) not to be treated as a tax-exempt entity for purposes of internal revenue code sections 168(h)(5) and (6), and (ii) to treat any gain recognized by its tax-exempt parent on any disposition of an interest in it (and to treat any dividend or interest received or accrued by its tax-exempt parent from it) as unrelated business taxable income under internal revenue code section 511. This election is being made for the 2022 tax year with respect to ppl service corporation's status as a co-general partner in nellie francis court limited partnership, ein 87-4579682. Accordingly, the residential rental property owned by nellie francis court limited partnership will not be considered tax-exempt use property under irc section 168(h).”

“Pursuant to treasury regulations sections 301.9100-7t(a)(2)(i) and (3), ppl service corporation, a for-profit subsidiary of project for pride in living, inc., a minnesota not-for-profit organization, hereby elects under internal revenue code section 168(h)(6)(f)(ii) as follows: (i) not to be treated as a tax-exempt entity for purposes of internal revenue code sections 168(h)(5) and (6), and (ii) to treat any gain recognized by its tax-exempt parent on any disposition of an interest in it (and to treat any dividend or interest received or accrued by its tax-exempt parent from it) as unrelated business taxable income under internal revenue code section 511. This election is being made for the 2022 tax year with respect to ppl service corporation's status as a co-general partner in emma norton ppl limited partnership, ein 87-4540968. Accordingly, the residential rental property owned by emma norton ppl limited partnership will not be considered tax-exempt use property under irc section 168(h).”

“Ppl niclake lp, a tax-exempt controlled partnership, which is the managing general partner of niclake, hereby elects, pursuant to irc section 168(h)(6)(f)(ii), not to be treated as a tax-exempt partnership under the rules of section 168(h)(6)(f) beginning with the tax year ending december 31, 2023. Any gain recognized on the disposition by ppl properties, the controlling tax-exempt entity, of its interest in ppl niclake lp or any dividend or interest received by ppl properties from ppl properties related to this investment will be treated as unrelated business taxable income for purposes of section 511. Accordingly, the residential rental property owned by ppl niclake lp will not be considered tax-exempt use property under section 168(h).”