Civic Intelligence

Second Heart Homes Inc.

990 • Fiscal year 2023 • EIN 84-1848246

Jan 01, 2023 to Dec 31, 2023 • Filed on Aug 07, 2024

Organization ProfileWWW.SECONDHEARTHOMES.ORG
PO Box 3886Sarasota, FL 34230-3886

(941) 201-9353

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

62nd percentile

0.15x

Higher debt load relative to assets than 62% of similar nonprofits.

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

Liabilities / Revenue

69th percentile

0.25x

Higher debt load relative to revenue than 69% of similar nonprofits.

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

Net Margin

92nd percentile

54%

Higher net margin than 92% of similar nonprofits.

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

Top Officer Pay

54th percentile

$70,106

Higher top officer pay than 54% of similar nonprofits.

Top officer pay equals 3.7% of source-year revenue.

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

Asset Growth

88th percentile

46%

Faster asset growth than 88% of similar nonprofits.

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

Revenue Growth

81st percentile

43%

Faster revenue growth than 81% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets62nd percentile

Assets

Up

$3,196,630

Up $1,003,002 (+46%) from 2022

Net Assets

Up

$2,721,007

Up $1,049,781 (+63%) from 2022

Liabilities

Down

$475,623

Down $46,779 (-9.0%) from 2022

Revenue And Expenses
Liabilities / Revenue69th percentileNet Margin92nd percentile

Revenue

Up

$1,893,085

Up $571,775 (+43%) from 2022

Expenses

Up

$863,929

Up $244,499 (+39%) from 2022

Net Income

Up

$1,029,156

Up $327,276 (+47%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth88th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$6.0M$4.0M$2.0M$0Assets 2019: $14,234Liabilities 2019: $5,4502019Assets 2020: $614,893Liabilities 2020: $474,774Net Assets 2020: $140,1192020Assets 2021: $1,699,598Liabilities 2021: $730,252Net Assets 2021: $969,3462021Assets 2022: $2,193,628Liabilities 2022: $522,402Net Assets 2022: $1,671,2262022Assets 2023: $3,196,630Liabilities 2023: $475,623Net Assets 2023: $2,721,0072023Assets 2024: $4,806,966Liabilities 2024: $323,507Net Assets 2024: $4,483,4592024

Highlighted filing

2023

Assets$3,196,630
Liabilities$475,623
Net Assets$2,721,007
Open 2023 Filing

Operations Trend

Revenue Growth81st percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$3.0M$2.0M$1.0M$0Revenue 2019: $9,680Expenses 2019: $896Net Income 2019: $8,7842019Revenue 2020: $315,883Expenses 2020: $184,528Net Income 2020: $131,3552020Revenue 2021: $1,159,715Expenses 2021: $333,245Net Income 2021: $826,4702021Revenue 2022: $1,321,310Expenses 2022: $619,430Net Income 2022: $701,8802022Revenue 2023: $1,893,085Expenses 2023: $863,929Net Income 2023: $1,029,1562023Revenue 2024: $2,960,130Expenses 2024: $1,209,423Net Income 2024: $1,750,7072024

Highlighted filing

2023

Revenue$1,893,085
Expenses$863,929
Net Income$1,029,156
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Aug 7, 2024
Return Version
2023v5.0
Gross Receipts
$1,893,085
Mission and Program Overview

Mission

The mission of second heart homes is to revive the dignity of homeless adults with mental illnesses through housing, support, and love.

To revive the dignity of homeless adults with mental illnesses through housing, support, and love.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,630,105$2,818,821▲ $1,188,716
Loans From Officers Directors$515,000$201,666▼ $313,334
Savings and Temporary Cash Investments$273,207$189,404▼ $83,803
Cash and Non-Interest-Bearing Accounts$246,578$39,176▼ $207,402
Pledges and Grants Receivable$16,028$25,208▲ $9,180
Prepaid Expenses and Deferred Charges$13,403$14,571▲ $1,168
Intangible Assets$7,149$4,085▼ $3,064
Accounts Receivable$708--
Total Assets$2,193,628$3,196,630▲ $1,003,002
Other Assets Total$6,450$105,365▲ $98,915
Liabilities
Unsecured Notes Loans Payable-$156,667-
Other Liabilities-$97,054-
Accounts Payable and Accrued Expenses$7,402$20,236▲ $12,834
Total Liabilities$522,402$475,623▼ $46,779
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,628,516$2,651,882▲ $1,023,366
Net Assets With Donor Restrictions$42,710$69,125▲ $26,415
Total Net Assets Fund Balance$1,671,226$2,721,007▲ $1,049,781
Total Liabilities and Net Assets / Fund Balance$2,193,628$3,196,630▲ $1,003,002

Asset Categories

AssetBook ValueDepreciationBasis
Land$596,453-$596,453
Compensation and Service Providers
Top Officer Pay54th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Megan HowellExecutive DiFT$70,106$70,106

Board Members and Trustees

NameTitle
Cheri CoryeaDirector
Claudia BarnettDirector
David LyonsDirector
David WelleDirector
Erika QuartermaineDirector
James CoxDirector
Jim DoyleDirector
Robert W RosinskyDirector
Thomas TryonDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$1,441,970
Program Service Revenue
$377,870
Investment Income
$15,287
Other Revenue
$57,958
All Other Contributions
$1,441,970
Change in Net Assets
$1,029,156
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$445,629
Salaries, Compensation, and Employee Benefits$418,300
Total Fundraising Expense$57,445
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$153,475$76,737$25,578$255,790
Current Officers, Directors, Trustees, and Key Employees$42,063$21,032$7,011$70,106
Other Employee Benefits$39,777$19,889$6,629$66,295
Depreciation Depletion$54,184$5,680-$59,864
All Other Expenses$26,225$10,086$10,733$47,044
Occupancy$42,047$4,672-$46,719
Insurance$25,760$2,862-$28,622
Payroll Taxes$15,665$7,833$2,611$26,109
Travel$17,498--$17,498
Interest$14,094$1,566-$15,660
Fees for Services Other$6,330$7,438$930$14,698
Other Expenses$12,667$2,196$2,197$12,667
Fees for Services Accounting-$9,352-$9,352
Advertising-$6,838$1,709$8,547
Office Expenses--$47$47
Total Functional Expenses$630,303$176,181$57,445$863,929
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$56,938
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Art Auction$56,938$56,938-$56,938
Total Events$56,938$56,938-$56,938
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
David WelleDirectorLoan ProvidedNo$156,666
Wendy CoxDIRECTOR'S WIFELoan ProvidedNo$156,666
Wendy CoxDIRECTOR'S WIFELoan ForgivenNo$-156,666

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$515,000$201,666▼ $313,334
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Operating Lease Laibility$97,054
Governance and Compliance

Governance Checklist

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

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“The 990 was reviewed by two members of our board of directors.”

Form 990, Page 6, Part VI, Line 12C

“All directors, officers and key employees are required to annually review our conflict of interest policy. All are required to disclose any potential conflicts of interest to the board. The board will then review and approve or disapprove of the activity at a regular schedule or special meeting.”

Form 990, Page 6, Part VI, Line 15A

“The compensation process of the executive director and key employees is determined by the board. Compensation is based upon merit and successful outcomes. Performance reviews are utilitzed for this purpose.”

Form 990, Page 6, Part VI, Line 18

“The 990 is available on guide star and the community foundation of sarasota.”

Form 990, Page 6, Part VI, Line 19

“The governning documents are available to the public by providing them to guidestar and the giving partner through the community foundation of sarasota. These are also available upon request.”

Filing and Contact Details

Filer

Filer Name
Second Heart Homes Inc
EIN
84-1848246
Phone
9412019353
Address
PO BOX 3886, SARASOTA, FL 34230-3886

Signing Officer

Name
Megan Howell
Title
Executive Director
Phone
9412019353
Signed
2024-08-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Megan Howell
Formed
2019
Voting Board Members
9
Independent Board Members
9
Employees
10
Volunteers
60

Preparer

Firm
Miller & Miller Pa CPA
Address
5660 MARQUESAS CIR, SARASOTA, FL 34233
Preparer
Marc a Miller
Phone
9413664152
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“IN KIND SERVICES -19,125”

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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/OtherSalariesAndWagesGrp/ProgramServicesAmt0153475
IRS990/OtherSalariesAndWagesGrp/TotalAmt0255790
IRS990/PartialLiquidationInd0false
IRS990/PayrollTaxesGrp/FundraisingAmt02611
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt07833
IRS990/PayrollTaxesGrp/ProgramServicesAmt015665
IRS990/PayrollTaxesGrp/TotalAmt026109
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt016028
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt025208
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt013403
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt014571
IRS990/PrincipalOfficerNm0MEGAN HOWELL
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0PROGRAM SERVICE REVENUE
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0377870
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0377870
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt01011879
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt06171
IRS990/PYOtherExpensesAmt0312643
IRS990/PYOtherRevenueAmt02804
IRS990/PYProgramServiceRevenueAmt0300456
IRS990/PYRevenuesLessExpensesAmt0701880
IRS990/PYSalariesCompEmpBnftPaidAmt0306787
IRS990/PYTotalExpensesAmt0619430
IRS990/PYTotalRevenueAmt01321310
IRS990/ReconcilationRevenueExpnssAmt01029156
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0377870
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0273207
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0189404
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus1YearAmt0130473
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus2YearsAmt0287802
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus3YearsAmt05200
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus4YearsAmt010000
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt0433475
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt01441970
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt01011879
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt0980821
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt0196698
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt08846
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt03640214
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0451115
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt0303260
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0178894
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt0933269
IRS990ScheduleA/InvestmentIncomeCYPct00.00000
IRS990ScheduleA/InvestmentIncomePYPct00.00000
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.75110
IRS990ScheduleA/PublicSupportTotal509Amt03435262
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus1YearAmt0553040
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus2YearsAmt0525927
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus3YearsAmt038035
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus4YearsAmt021219
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt01138221
IRS990ScheduleA/SubstantialContributorsAmtGrp/CurrentTaxYearMinus1YearAmt0422567
IRS990ScheduleA/SubstantialContributorsAmtGrp/CurrentTaxYearMinus2YearsAmt0238125
IRS990ScheduleA/SubstantialContributorsAmtGrp/CurrentTaxYearMinus3YearsAmt032835
IRS990ScheduleA/SubstantialContributorsAmtGrp/CurrentTaxYearMinus4YearsAmt011219
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt0704746
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt01893085
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt01315139
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt01159715
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0196698
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt08846
IRS990ScheduleA/Total509Grp/TotalAmt04573483
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt01893085
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt01315139
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt01159715
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0196698
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt08846
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt04573483
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/ScheduleBRequiredInd0true
IRS990ScheduleD/LandGrp/BookValueAmt0596453
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0596453
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt097054
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0OPERATING LEASE LAIBILITY
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0596453
IRS990ScheduleD/TotalLiabilityAmt097054
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0ART AUCTION
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt056938
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt056938
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt056938
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt056938
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt056938
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm0DAVID WELLE
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm1WENDY COX
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm2WENDY COX
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0DIRECTOR
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt1DIRECTOR'S WIFE
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt2DIRECTOR'S WIFE
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd1false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd2false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt0156666
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt1156666
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt2-156666
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0LOAN PROVIDED
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc1LOAN PROVIDED
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc2LOAN FORGIVEN
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt0156666
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt145000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd0true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd1true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd0false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd1false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt0ACQUIRE PROPERTY
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt1ACQUIRE PROPERTY
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanToOrganizationInd0X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanToOrganizationInd1X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt0156666
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt152000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm0DAVID WELLE
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm1DAVID WELLE
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt0DIRECTOR
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt1DIRECTOR
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd0true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd1true
IRS990ScheduleL/SupplementalInformationDetail/ExplanationTxt0DURING 2023 THE ORGANIZATION HAD A 230,000 4.2% INTEREST-ONLY MORTGAGE NOTE AND A 240,000 2.5% INTEREST-ONLY MORTGAGE NOTE OUTSTANDING TO MWR, LLC. MWR, LLC WAS 33.3% OWNED BY DIRECTOR DAVID WELLE, 33.3% OWNED BY WENDY COX, A SPOUSE OF DIRECTOR JAMES COX, AND 33.3% OWNED BY AND UNRELATED INDIVIDUAL. EACH MORTGAGE WAS ENTERED INTO AFTER DISCLOSURE OF THE RELATED-PARTY TRANSACTION TO THE ORGANIZATION'S BOARD OF DIRECTORS WHO DEEMED THE TRANSACTIONS PRUDENT, SUPERIOR TO AVAILABLE UNRELATED-PARTY TRANSACTIONS, AND IN ACCORDANCE WITH THE ORGANIZATION'S POLICIES. PRIOR TO DECEMBER 31, 2023 MWR, LLC VOLUNTARILY EXTINGUISHED THE TWO MORTGAGES AND THE DEBT WAS TRANSFERRED TO THREE 156,667 0% UNSECURED NOTES DUE TO DAVID WELLE, JAMES COX'S SPOUSE AND THE UNRELATED THIRD PARTY. JAMES COX'S SPOUSE CONTRIBUTED HER NOTE TO THE ORGANIZATION. THE TWO REMAINING 156,667 0% UNSECURED NOTES WERE OUTSTANDING AS OF DECEMBER 31, 2023.
IRS990ScheduleL/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE L, PART V
IRS990ScheduleL/TotalBalanceDueAmt0201666
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE 990 WAS REVIEWED BY TWO MEMBERS OF OUR BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ALL DIRECTORS, OFFICERS AND KEY EMPLOYEES ARE REQUIRED TO ANNUALLY REVIEW OUR CONFLICT OF INTEREST POLICY. ALL ARE REQUIRED TO DISCLOSE ANY POTENTIAL CONFLICTS OF INTEREST TO THE BOARD. THE BOARD WILL THEN REVIEW AND APPROVE OR DISAPPROVE OF THE ACTIVITY AT A REGULAR SCHEDULE OR SPECIAL MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE COMPENSATION PROCESS OF THE EXECUTIVE DIRECTOR AND KEY EMPLOYEES IS DETERMINED BY THE BOARD. COMPENSATION IS BASED UPON MERIT AND SUCCESSFUL OUTCOMES. PERFORMANCE REVIEWS ARE UTILITZED FOR THIS PURPOSE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE 990 IS AVAILABLE ON GUIDE STAR AND THE COMMUNITY FOUNDATION OF SARASOTA.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE GOVERNNING DOCUMENTS ARE AVAILABLE TO THE PUBLIC BY PROVIDING THEM TO GUIDESTAR AND THE GIVING PARTNER THROUGH THE COMMUNITY FOUNDATION OF SARASOTA. THESE ARE ALSO AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5IN KIND SERVICES -19,125
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 12C

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,196,630
Liabilities
$475,623
Net assets
$2,721,007
Revenue
$1,893,085
Expenses
$863,929
Net income
$1,029,156
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$4.81$0.32$4.48$2.96$1.21$1.75
2023Detailed filing. Detailed filing data is available for this year.$3.20$0.48$2.72$1.89$0.86$1.03
2022Detailed filing. Detailed filing data is available for this year.$2.19$0.52$1.67$1.32$0.62$0.70
2021Detailed filing. Detailed filing data is available for this year.$1.70$0.73$0.97$1.16$0.33$0.83
2020Detailed filing. Detailed filing data is available for this year.$0.61$0.47$0.14$0.32$0.18$0.13
2019Summary only. Only limited summary data is available for this year.$0.01$0.01$0.01$0.00$0.01