Centreport Properties INC FY2022 filing

Not tax-deductible

Boston, MAMutual-benefit / member-servingEIN 04-3363330

Title holding company for real property

Mission: Form 990 Part I, line 1

Before you give

FY2022 · Form 990Independent: from IRS data, not the org
Download 990
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 3
filings with a surplus
Average surplus $14.7M a year · 92% of revenue · last 3 filings
Looks good: a surplus in 3 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Cash reserves
4 mo
of spending, in cash
Looks good: 3.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$5.5M
-84% vs prior year
Spent
$566K
Net assets
$200K
By yearFY2020–FY2024
Revenue
$5.5M
FY2022▼ -84%
Revenue by fiscal year
FY2020$7.5M
FY2021$34.8M
FY2022$5.5M
FY2023$1
FY2024$60
Expenses
$566K
FY2022▼ -32%
Expenses by fiscal year
FY2020$2.4M
FY2021$831K
FY2022$566K
FY2023Not on file
FY2024Not on file
Net assets
$200K
FY2022▼ -99%
Net assets by fiscal year
FY2020$82.4M
FY2021$23.8M
FY2022$200K
FY2023$44K
FY2024$32K

From the FY2022 Form 990 · see the original

You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Aug 1998.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

1 person listed on the 990.

Part VII, Section A · reportable compensation
See Schedule O
Authorized Signatories
$0Pt VII · Sec A
See Centreport Properties INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Owns and manages real estate properties.

Provided by the organization

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By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$5.5M
Ln 12
Investment incomeLn 3$4.0M
Fees for servicesLn 2g$1.4M
Money outPt IX
$566K
Ln 25
Owns and owesPt X
$200K
net assets · Ln 32
Cash and savingsLn 1–2$169K
Total assetsLn 16$200K
LiabilitiesLn 26$0
PeoplePt VI, VII
1
listed · VII A
PaidVII A0
Voting boardVI 1a0
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$1.4M
Investment incomeLn 3$4.0M
Gains on assetsLn 7$4.0M
Total revenueLn 12$5.5M
Assets in detailPt X, end of year
CashLn 1$0
SavingsLn 2$169K
Cash and savings togetherLn 1–2$169K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$0
Other assetsLn 15$21K
Total assetsLn 16$200K
LiabilitiesLn 26$0
Net assetsLn 32$200K
OperationsPt I, VI
EmployeesI 50
VolunteersI 68
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$1.3M$169K
InvestmentsLn 11–13$0$0
Land, buildings, equipmentLn 10c$22.8M$0
Total assetsLn 16$24.2M$200K
LiabilitiesLn 26$429K$0
Net assetsLn 32$23.8M$200K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$0
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$7K
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$0
Payroll taxesLn 10$0
Management feesLn 11a$62K
Legal feesLn 11b$0
Accounting feesLn 11c$3K
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$77K
Advertising and promotionLn 12$0
Office expensesLn 13$2K
Information technologyLn 14$0
RoyaltiesLn 15$0
OccupancyLn 16$400K
TravelLn 17$0
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$0
InterestLn 20$0
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$0
InsuranceLn 23$15K
Total functional expensesLn 25$566K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $60$32K 990 PDF
FY2023 $1$44K 990 PDF
FY2022 Viewing $5.5M$566K$4.9M$200K 990 PDF
FY2021 $34.8M$831K$34.0M$23.8M 990 PDF
FY2020 $7.5M$2.4M$5.1M$82.4M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2022 990 (4 parts)
Part VIII · Statement of revenue $5,452,411 across 8 lines filed
VIII-1h Total contributions, gifts and grants$0
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,444,626$1,444,626
VIII-3 Investment incomeExcluded from tax $2$2
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assetsExcluded from tax $4,007,783$4,007,783
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueRelated to mission $1,444,626 · Excluded from tax $4,007,785$5,452,411
Part IX · Statement of functional expenses $565,950 across 29 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staff$0
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wages$7,040
IX-8 Pension plan contributions$0
IX-9 Other employee benefits$0
IX-10 Payroll taxes$0
IX-11a Management fees$62,310
IX-11b Legal fees$0
IX-11c Accounting fees$2,670
IX-11d Lobbying fees$0
IX-11e Professional fundraising fees$0
IX-11f Investment management fees$0
IX-11g Other fees for services$76,944
IX-12 Advertising and promotion$0
IX-13 Office expenses$2,126
IX-14 Information technology$0
IX-15 Royalties$0
IX-16 Occupancy$400,344
IX-17 Travel$0
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$0
IX-20 Interest$0
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortization$0
IX-23 Insurance$14,516
IX-25 Total functional expenses$565,950
Part X · Balance sheet $199,816 assets, 22 lines filed
X-1 Cash, non-interest-bearingStart of year $0$0
X-2 Savings and temporary cash investmentsStart of year $1,324,974$169,116
X-3 Pledges and grants receivableStart of year $0$0
X-4 Accounts receivableStart of year $40,593$0
X-8 Inventories for sale or useStart of year $0$0
X-9 Prepaid expenses and deferred chargesStart of year $26,056$9,548
X-10c Land, buildings and equipment, netStart of year $22,800,000$0
X-11 Publicly traded securitiesStart of year $0$0
X-12 Other securitiesStart of year $0$0
X-13 Program-related investmentsStart of year $0$0
X-14 Intangible assetsStart of year $0$0
X-15 Other assetsStart of year $0$21,152
X-16 Total assetsStart of year $24,191,623$199,816
X-17 Accounts payable and accrued expensesStart of year $354,227$0
X-18 Grants payableStart of year $0$0
X-19 Deferred revenueStart of year $0$0
X-20 Tax-exempt bond liabilitiesStart of year $0$0
X-24 Unsecured notes and loans payableStart of year $0$0
X-25 Other liabilitiesStart of year $75,242$0
X-26 Total liabilitiesStart of year $429,469$0
X-32 Total net assets or fund balancesStart of year $23,762,154$199,816
X-33 Total liabilities and net assetsStart of year $24,191,623$199,816
Part XI · Reconciliation of net assets $199,816 net assets at year end
XI-1 Total revenue$5,452,411
XI-2 Total expenses$565,950
XI-3 Revenue less expenses$4,886,461
XI-4 Net assets at start of year$23,762,154
XI-5 Net unrealized gains (losses) on investments−$5,279,214
XI-9 Other changes in net assets−$23,169,585
XI-10 Net assets at end of year$199,816

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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