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Primrose Properties Incorporated

Not tax-deductible

Orlando, FLMutual-benefit / member-servingCommunity Development EIN 20-1425348Revenue $702K in FY2025

On file with the IRS2733 S Fern Creek Ave, 32806-5538 · Orlando, FLTax-exempt since May 2007

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To acquire, hold, and sell real and personal property used by Primrose center, INC, a 501(c)(3) organization. Primrose Properties, INC will also manage the property IT holds for the benefit of Primrose center, INC.

100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2025 · 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $273K a year · 62% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Plus $620K in investments, Pt X · Ln 11–13
Fine: 0.9 months of spending in cash, plus $620K in investments.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$420K
8% of total assets
Looks good: liabilities are 8% of assets; 50% or less.
Pt X · Ln 26
Independent board members
11
of 11 voting members
Looks good: 11 of 11 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$702K
+134% vs prior year
Spent
$205K
To programs
100%
Net assets
$4.6M
By yearFY2021–FY2025
Revenue
$702K
FY2025▲ +134%
Tap a bar for its year
Revenue by fiscal year
FY2021$298K
FY2022$337K
FY2023$551K
FY2024$300K
FY2025$702K
Expenses
$205K
FY2025▲ +27%
Tap a bar for its year
Expenses by fiscal year
FY2021$120K
FY2022$184K
FY2023$156K
FY2024$161K
FY2025$205K
Net assets
$4.6M
FY2025▲ +12%
Tap a bar for its year
Net assets by fiscal year
FY2021$3.4M
FY2022$3.5M
FY2023$4.0M
FY2024$4.1M
FY2025$4.6M

From the FY2025 Form 990 (year ending June 2025) · figures checked against the IRS filing · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in May 2007.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $204K Management & general 0% · $834

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

12 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
$0Pt VII · Sec A
Lino Mancebo
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Mo Khan
Director
$0Pt VII · Sec A
Russ Cammack
Director
$0Pt VII · Sec A
Tracy Garcia
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Primrose Properties Incorporated 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 15aYes

Programs and updates

Acquires, holds, sells, and manages property for a related nonprofit.

Questions for Primrose Properties Incorporated

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Provided by the organization

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1 program · $204K · in their own filed words · FY2024
01

Primrose properties, inc holds, manages, and leases personal and real property for the benefit of and use by primrose center, inc, a related 501(C)(3)ORGANIZATION.

$204Kprogram expense

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$702K
Ln 12
Investment incomeLn 3$445K
Fees for servicesLn 2g$218K
Gifts and grantsLn 1h$39K
Money outPt IX
$205K
Ln 25
Programscol B$204K
Managementcol C$834
Owns and owesPt X
$4.6M
net assets · Ln 32
Cash and savingsLn 1–2$15K
Total assetsLn 16$5.1M
LiabilitiesLn 26$420K
PeoplePt VI, VII
12
listed · VII A
PaidVII A0
Voting boardVI 1a11
IndependentVI 1b11
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$39K
Government grantsLn 1e$39K
Fees for servicesLn 2g$218K
Investment incomeLn 3$445K
Gains on assetsLn 7$397K
Total revenueLn 12$702K
Assets in detailPt X, end of year
CashLn 1$15K
Cash and savings togetherLn 1–2$15K
InvestmentsLn 11–13$620K
Land, buildings, equipmentLn 10c$2.2M
Other assetsLn 15$1.9M
Total assetsLn 16$5.1M
LiabilitiesLn 26$420K
Net assetsLn 32$4.6M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$252K$15K
InvestmentsLn 11–13$552K$620K
Land, buildings, equipmentLn 10c$2.2M$2.2M
Total assetsLn 16$4.5M$5.1M
LiabilitiesLn 26$410K$420K
Net assetsLn 32$4.1M$4.6M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
InterestLn 20$7K$7K
Depreciation, depletion and amortizationLn 22$169K$169K
InsuranceLn 23$2K$2K
Other expenses (24a–d)Ln 24$27K$26K$834
Total functional expensesLn 25$205K$204K$834$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $702K$205K$498K$4.6M 990 PDF
FY2024 $300K$161K$139K$4.1M 990 PDF
FY2023 $551K$156K$395K$4.0M 990 PDF
FY2022 $337K$184K$153K$3.5M 990 PDF
FY2021 $298K$120K$178K$3.4M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2025 990 (6 parts)
Part I · Summary $702,335 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$39,094
I-9 Program service revenuePrior year $282,708$218,342
I-10 Investment incomePrior year $17,148$444,899
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $299,856$702,335
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $161,060$204,704
I-18 Total expensesPrior year $161,060$204,704
I-19 Revenue less expensesPrior year $138,796$497,631
Part VI · Governance 11 of 11 board members independent, no flags
VI-1a Voting members of the governing body11
VI-1b Independent voting members11
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $702,335 across 6 lines filed
VIII-1e Government grants$39,094
VIII-1h Total contributions, gifts and grants$39,094
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $218,342$218,342
VIII-3 Investment incomeExcluded from tax $47,898$47,898
VIII-7 Net gain or loss on sales of assetsRelated to mission $397,001$397,001
VIII-12 Total revenueRelated to mission $615,343 · Unrelated business $0 · Excluded from tax $47,898$702,335
Part IX · Statement of functional expenses $204,704 across 4 lines filed
IX-20 InterestPrograms $6,520$6,520
IX-22 Depreciation, depletion and amortizationPrograms $168,984$168,984
IX-23 InsurancePrograms $2,004$2,004
IX-24 Other expenses (24a–d)Programs $26,362 · Management $834$27,196
IX-25 Total functional expensesPrograms $203,870 · Management $834 · Fundraising $0$204,704
Part X · Balance sheet $5,052,479 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $252,076$15,178
X-4 Accounts receivableStart of year $212,031$359,696
X-10c Land, buildings and equipment, netStart of year $2,249,173$2,156,451
X-11 Publicly traded securitiesStart of year $551,943$619,566
X-15 Other assetsStart of year $1,257,907$1,901,588
X-16 Total assetsStart of year $4,536,820$5,052,479
X-19 Deferred revenue$16,906
X-25 Other liabilitiesStart of year $409,749$402,802
X-26 Total liabilitiesStart of year $409,749$419,708
X-32 Total net assets or fund balancesStart of year $4,127,071$4,632,771
X-33 Total liabilities and net assetsStart of year $4,536,820$5,052,479
Part XI · Reconciliation of net assets $4,632,771 net assets at year end
XI-1 Total revenue$702,335
XI-2 Total expenses$204,704
XI-3 Revenue less expenses$497,631
XI-4 Net assets at start of year$4,127,071
XI-5 Net unrealized gains (losses) on investments$8,069
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$4,632,771

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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