Civic Intelligence

The Palms Retirement Center

EIN 74-2247344 • 501(c)3 • Harlingen, TX

Profile

The project is operated as an apartment complex of 18 efficiency and 45 one bedroom units for elderly or disabled persons with low income.

525 E Davis StreetHarlingen, TX 78550

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

96th percentile

1.38x

Higher debt load relative to assets than 96% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

93rd percentile

2.35x

Higher debt load relative to revenue than 93% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

55th percentile

6.9%

Higher net margin than 55% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

35th percentile

-0.7%

Faster asset growth than 35% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

86th percentile

55%

Faster revenue growth than 86% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets96th percentile

Assets

Down

$1,047,771

Down $3,626 (-0.3%) from 2023

Liabilities

Down

$1,398,531

Down $54,177 (-3.7%) from 2023

Net Assets

Up

-$350,760

Up $50,551 (+13%) from 2023

Operations
Liabilities / Revenue93rd percentileNet Margin55th percentile

Revenue

Up

$647,580

Up $28,380 (+4.6%) from 2023

Expenses

Up

$597,029

Up $20,660 (+3.6%) from 2023

Net Income

Up

$50,551

Up $7,720 (+18%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth35th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$3.0M$2.0M$1.0M$0-$1.0MAssets 2011: $1,685,244Liabilities 2011: $2,148,765Net Assets 2011: -$463,5212011Assets 2012: $1,677,546Liabilities 2012: $2,101,153Net Assets 2012: -$423,6072012Assets 2013: $1,719,018Liabilities 2013: $2,080,418Net Assets 2013: -$361,4002013Assets 2014: $1,728,580Liabilities 2014: $2,037,738Net Assets 2014: -$309,1582014Assets 2015: $1,740,543Liabilities 2015: $2,013,665Net Assets 2015: -$273,1222015Assets 2016: $1,690,522Liabilities 2016: $1,963,921Net Assets 2016: -$273,3992016Assets 2017: $1,442,964Liabilities 2017: $1,719,107Net Assets 2017: -$276,1432017Assets 2018: $1,405,936Liabilities 2018: $1,682,221Net Assets 2018: -$276,2852018Assets 2019: $1,369,689Liabilities 2019: $1,641,443Net Assets 2019: -$271,7542019Assets 2020: $1,335,310Liabilities 2020: $1,597,474Net Assets 2020: -$262,1642020Assets 2021: $1,287,448Liabilities 2021: $1,551,894Net Assets 2021: -$264,4462021Assets 2022: $1,059,280Liabilities 2022: $1,503,422Net Assets 2022: -$444,1422022Assets 2023: $1,051,397Liabilities 2023: $1,452,708Net Assets 2023: -$401,3112023Assets 2024: $1,047,771Liabilities 2024: $1,398,531Net Assets 2024: -$350,7602024

Highlighted filing

2024

Assets$1,047,771
Liabilities$1,398,531
Net Assets-$350,760
Open 2024 Filing

Operations Trend

Revenue Growth86th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$1.0M$500K$0-$500KExpenses 2011: $570,9482011Expenses 2012: $556,1302012Expenses 2013: $537,6422013Revenue 2014: $606,073Expenses 2014: $553,831Net Income 2014: $52,2422014Revenue 2015: $595,391Expenses 2015: $559,355Net Income 2015: $36,0362015Revenue 2016: $550,305Expenses 2016: $550,582Net Income 2016: -$2772016Revenue 2017: $562,079Expenses 2017: $564,823Net Income 2017: -$2,7442017Revenue 2018: $562,822Expenses 2018: $562,964Net Income 2018: -$1422018Revenue 2019: $577,947Expenses 2019: $573,416Net Income 2019: $4,5312019Revenue 2020: $585,271Expenses 2020: $575,681Net Income 2020: $9,5902020Revenue 2021: $587,429Expenses 2021: $589,711Net Income 2021: -$2,2822021Revenue 2022: $399,317Expenses 2022: $579,013Net Income 2022: -$179,6962022Revenue 2023: $619,200Expenses 2023: $576,369Net Income 2023: $42,8312023Revenue 2024: $647,580Expenses 2024: $597,029Net Income 2024: $50,5512024

Highlighted filing

2024

Revenue$647,580
Expenses$597,029
Net Income$50,551
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,047,771
Liabilities
$1,398,531
Net assets
-$350,760
Revenue
$647,580
Expenses
$597,029
Net income
$50,551
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.05$1.40$0.35$0.65$0.60$0.05
2023Detailed filing. Detailed filing data is available for this year.$1.05$1.45$0.40$0.62$0.58$0.04
2022Detailed filing. Detailed filing data is available for this year.$1.06$1.50$0.44$0.40$0.58$0.18
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.29$1.55$0.26$0.59$0.59$0.00
2020Detailed filing. Detailed filing data is available for this year.$1.34$1.60$0.26$0.59$0.58$0.01
2019Detailed filing. Detailed filing data is available for this year.$1.37$1.64$0.27$0.58$0.57$0.00
2018Detailed filing. Detailed filing data is available for this year.$1.41$1.68$0.28$0.56$0.56$0.00
2017Detailed filing. Detailed filing data is available for this year.$1.44$1.72$0.28$0.56$0.56$0.00
2016Detailed filing. Detailed filing data is available for this year.$1.69$1.96$0.27$0.55$0.55$0.00
2015Detailed filing. Detailed filing data is available for this year.$1.74$2.01$0.27$0.60$0.56$0.04
2014Detailed filing. Detailed filing data is available for this year.$1.73$2.04$0.31$0.61$0.55$0.05
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.72$2.08$0.36$0.54
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.68$2.10$0.42$0.56
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.69$2.15$0.46$0.57
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 14, 2025
Return Version
2023v6.0
Gross Receipts
$647,580
Mission and Program Overview

Mission

The project is operated as an apartment complex of 18 efficiency and 45 one bedroom units for elderly or disabled persons with low income.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$691,369$673,419▼ $17,950
Savings and Temporary Cash Investments$273,288$295,712▲ $22,424
Prepaid Expenses and Deferred Charges$62,767$66,829▲ $4,062
Cash and Non-Interest-Bearing Accounts$23,548$11,386▼ $12,162
Total Assets$1,051,397$1,047,771▼ $3,626
Other Assets Total$425$425→ $0
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,423,038$1,368,801▼ $54,237
Other Liabilities$16,824$16,772▼ $52
Accounts Payable and Accrued Expenses$12,846$12,958▲ $112
Total Liabilities$1,452,708$1,398,531▼ $54,177
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-401,311$-350,760▲ $50,551
Total Net Assets Fund Balance$-401,311$-350,760▲ $50,551
Total Liabilities and Net Assets / Fund Balance$1,051,397$1,047,771▼ $3,626

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$594,978$1,757,844$2,352,822
Equipment$41,735$245,010$286,745
Other Land Buildings$18,706$29,356$48,062
Land$18,000-$18,000
Compensation and Service Providers
Top Officer PayScore unavailable

Employees

NameTitleFull / Part TimeBaseTotal
Evaristo MelgozaSite MgrFT$51,385$51,385

Board Members and Trustees

NameTitle
Melvin D JusticePresident
Mike SullivanVice President
Dan M HatfieldDirector
Rachel HendrixDirector
Sylvia HembreeDirector
Tyler JonesDirector
Edward H WhittingtonSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$377,742
Program Service Revenue
$254,523
Investment Income
$169
Other Revenue
$15,146
Change in Net Assets
$50,551

Audited Revenue Reconciliation

Revenue per Audited Statements
$647,580
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$647,580
Total Revenue per Form 990
$647,580
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$443,463
Salaries, Compensation, and Employee Benefits$153,566
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$69,057$12,186-$81,243
Other Salaries and Wages$63,504$11,206-$74,710
Insurance$62,356$11,004-$73,360
Occupancy$57,499$10,147-$67,646
Depreciation Depletion$55,961$9,875-$65,836
Current Officers, Directors, Trustees, and Key Employees$43,678$7,708-$51,386
Fees for Services Management$32,246$5,690-$37,936
Fees for Services Other$16,670$2,942-$19,612
Office Expenses$14,892$2,628-$17,520
Pension Plan Contributions$14,673$2,589-$17,262
Other Expenses$10,091$1,781-$11,872
Other Employee Benefits$8,677$1,531-$10,208
Total Functional Expenses$507,476$89,553$0$597,029

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$597,029
Total Expenses per Audited Statements$597,029
Total Expenses per Form 990$597,029
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Tenant Security Deposits$16,772
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

“The palm's retirement center, inc. Pays a management fee to teron enterprises amounting to 6% of gross rent collections. Teron enterprises in turn provides the palm's retirement center, inc. With management assistance throughout the fiscal year.”

Form 990, Part VI, Section B, Line 11B

“The form 990 is reviewed by the managing agent before it is filed with the irs.”

Form 990, Part VI, Section B, Line 15

“Teron enterprises representative approves salaries and they are reviewed in june of each fiscal year, adjustments to be made effective at the beginning of each fiscal year on july 1. Where applicable, teron enterprises representative approves salaries for officers and/or managers and they are reviewed in june of each fiscal year, adjustments to be made effective at the beginning of each fiscal year on july 1.”

Form 990, Part VI, Section C, Line 19

“The organization's governing documents, form 990, and financial statements are available to the public upon request. Each request is reviewed by the board. If the request is approved by the board, the document is released to the requestor.”

Filing and Contact Details

Filer

Filer Name
The Palms Retirement Center
EIN
74-2247344
Phone
9564214331
Address
525 E DAVIS STREET, HARLINGEN, TX 78550

Signing Officer

Name
Melvin D Justice
Title
President
Phone
9564214331
Signed
2025-05-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Melvin D Justice
Formed
1982
Legal Domicile
TX
Voting Board Members
7
Independent Board Members
7
Employees
5
Volunteers
0

Preparer

Firm
Cri Advisors LLC
Address
402 E TYLER AVENUE, HARLINGEN, TX 78550
Preparer
Jonathan E Hall CPA
Phone
9564233765
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

“The project remains exempt from federal income taxes under the provisions of section 501(c)(3) of the internal revenue code and therefore has made no provision for federal income taxes in the accompanying financial statements. In addition, the project has been determined by the internal revenue service not to be a "private foundation" within the meaning of section 509(a) of the internal revenue code. There was no unrelated business income for the fiscal year ended june 30, 2023. The project believes it is no longer subject to examination for years prior to june 30, 2019.”

Raw XML AppendixShowing 400 of 422 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/PersonNm1MIKE SULLIVAN
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IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE PRESIDENT
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IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt08677
IRS990/OtherEmployeeBenefitsGrp/TotalAmt010208
IRS990/OtherExpensesGrp/Desc0OPERATING & MAINTENANCE
IRS990/OtherExpensesGrp/Desc1SUPPLIES
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt010266
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt11781
IRS990/OtherExpensesGrp/ProgramServicesAmt058172
IRS990/OtherExpensesGrp/ProgramServicesAmt110091
IRS990/OtherExpensesGrp/TotalAmt068438
IRS990/OtherExpensesGrp/TotalAmt111872
IRS990/OtherLiabilitiesGrp/BOYAmt016824
IRS990/OtherLiabilitiesGrp/EOYAmt016772
IRS990/OtherRevenueMiscGrp/BusinessCd0532000
IRS990/OtherRevenueMiscGrp/Desc0MISCELLANEOUS INCOME
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt015146
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt015146
IRS990/OtherRevenueTotalAmt015146
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt011206
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt063504
IRS990/OtherSalariesAndWagesGrp/TotalAmt074710
IRS990/PartialLiquidationInd00
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt02589
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt014673
IRS990/PensionPlanContributionsGrp/TotalAmt017262
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt062767
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt066829
IRS990/PrincipalOfficerNm0MELVIN D JUSTICE
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0532000
IRS990/ProgramServiceRevenueGrp/BusinessCd1532000
IRS990/ProgramServiceRevenueGrp/Desc0DWELLING RENTAL INCOME
IRS990/ProgramServiceRevenueGrp/Desc1VACANCIES-APARTMENTS
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0257541
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1-3018
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0257541
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1-3018
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0360582
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt093
IRS990/PYOtherExpensesAmt0437567
IRS990/PYOtherRevenueAmt014044
IRS990/PYProgramServiceRevenueAmt0244481
IRS990/PYRevenuesLessExpensesAmt042831
IRS990/PYSalariesCompEmpBnftPaidAmt0138802
IRS990/PYTotalExpensesAmt0576369
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0619200
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt050551
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0269669
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0273288
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0295712
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0377742
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0360582
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0162827
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0364400
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0367231
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt01632782
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt0169
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt093
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt068
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt0146
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt0208
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0684
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearAmt015146
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus1YearAmt014044
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus2YearsAmt014019
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus3YearsAmt011799
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus4YearsAmt011282
IRS990ScheduleA/OtherIncome170Grp/TotalAmt066290
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.96060
IRS990ScheduleA/PublicSupportPY170Pct00.96200
IRS990ScheduleA/PublicSupportTotal170Amt01632782
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0377742
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0360582
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0162827
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0364400
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0367231
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01632782
IRS990ScheduleA/TotalSupportAmt01699756
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/BuildingsGrp/BookValueAmt0594978
IRS990ScheduleD/BuildingsGrp/DepreciationAmt01757844
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt02352822
IRS990ScheduleD/EquipmentGrp/BookValueAmt041735
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0245010
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0286745
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0597029
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt018000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt018000
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt018706
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt029356
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt048062
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt016772
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT SECURITY DEPOSITS
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0647580
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE PROJECT REMAINS EXEMPT FROM FEDERAL INCOME TAXES UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND THEREFORE HAS MADE NO PROVISION FOR FEDERAL INCOME TAXES IN THE ACCOMPANYING FINANCIAL STATEMENTS. IN ADDITION, THE PROJECT HAS BEEN DETERMINED BY THE INTERNAL REVENUE SERVICE NOT TO BE A "PRIVATE FOUNDATION" WITHIN THE MEANING OF SECTION 509(A) OF THE INTERNAL REVENUE CODE. THERE WAS NO UNRELATED BUSINESS INCOME FOR THE FISCAL YEAR ENDED JUNE 30, 2023. THE PROJECT BELIEVES IT IS NO LONGER SUBJECT TO EXAMINATION FOR YEARS PRIOR TO JUNE 30, 2019.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0673419
IRS990ScheduleD/TotalExpensesPerForm990Amt0597029
IRS990ScheduleD/TotalLiabilityAmt016772
IRS990ScheduleD/TotalRevenuePerForm990Amt0647580
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0647580
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0597029
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE PALM'S RETIREMENT CENTER, INC. PAYS A MANAGEMENT FEE TO TERON ENTERPRISES AMOUNTING TO 6% OF GROSS RENT COLLECTIONS. TERON ENTERPRISES IN TURN PROVIDES THE PALM'S RETIREMENT CENTER, INC. WITH MANAGEMENT ASSISTANCE THROUGHOUT THE FISCAL YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FORM 990 IS REVIEWED BY THE MANAGING AGENT BEFORE IT IS FILED WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2TERON ENTERPRISES REPRESENTATIVE APPROVES SALARIES AND THEY ARE REVIEWED IN JUNE OF EACH FISCAL YEAR, ADJUSTMENTS TO BE MADE EFFECTIVE AT THE BEGINNING OF EACH FISCAL YEAR ON JULY 1. WHERE APPLICABLE, TERON ENTERPRISES REPRESENTATIVE APPROVES SALARIES FOR OFFICERS AND/OR MANAGERS AND THEY ARE REVIEWED IN JUNE OF EACH FISCAL YEAR, ADJUSTMENTS TO BE MADE EFFECTIVE AT THE BEGINNING OF EACH FISCAL YEAR ON JULY 1.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION'S GOVERNING DOCUMENTS, FORM 990, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. EACH REQUEST IS REVIEWED BY THE BOARD. IF THE REQUEST IS APPROVED BY THE BOARD, THE DOCUMENT IS RELEASED TO THE REQUESTOR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt01051397
IRS990/TotalAssetsEOYAmt01047771
IRS990/TotalAssetsGrp/BOYAmt01051397
IRS990/TotalAssetsGrp/EOYAmt01047771
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0377742
IRS990/TotalEmployeeCnt05
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt089553
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0507476
IRS990/TotalFunctionalExpensesGrp/TotalAmt0597029
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01452708
IRS990/TotalLiabilitiesEOYAmt01398531
IRS990/TotalLiabilitiesGrp/BOYAmt01452708
IRS990/TotalLiabilitiesGrp/EOYAmt01398531
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-401311
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-350760
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0507476
IRS990/TotalProgramServiceRevenueAmt0254523
IRS990/TotalReportableCompFromOrgAmt051385
IRS990/TotalRevenueGrp/ExclusionAmt0169
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0269669
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0647580
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01051397
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01047771
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0525 E DAVIS STREET
IRS990/USAddress/CityNm0HARLINGEN
IRS990/USAddress/StateAbbreviationCd0TX
IRS990/USAddress/ZIPCd078550
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0MELVIN D JUSTICE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum09564214331
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-05-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0THE PALMS RETIREMENT CENTER

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