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Wise Owl Properties INC FY2020 filing

Not tax-deductible

Jacksonville, FLMutual-benefit / member-servingEIN 45-5567819Revenue $173K in FY2020

On file with the IRS10688 Old St Augustine Rd, 32257-1004 · Jacksonville, FLTax-exempt since Apr 2013

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Wise Owl Properties, INC. Is a corporation owned to hold title to property on behalf of eldersource INC.

Mission: Form 990 Part I, line 1

Before you give

FY2020 · 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
1 of 5
filings with a surplus
Average deficit $39K a year · 26% of revenue · last 5 filings
Concern: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Cash reserves
11 mo
of spending, in cash
Looks good: 11.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$1.0M
83% of total assets
Concern: liabilities are 83% of assets; over 80%.
Pt X · Ln 26
Independent board members
6
of 6 voting members
Looks good: 6 of 6 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$173K
Spent
$248K
Net assets
$215K
By yearFY2020–FY2024
Revenue
$173K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$173K
FY2021$155K
FY2022$135K
FY2023$135K
FY2024$135K
Expenses
$248K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$248K
FY2021$126K
FY2022$183K
FY2023$175K
FY2024$194K
Net assets
$215K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$215K
FY2021$243K
FY2022$195K
FY2023$155K
FY2024$96K

From the FY2020 Form 990 · see the original

990 PDF Claim
You’re viewing the FY2020 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 Apr 2013.

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

Who runs it and what they're paid

7 people listed on the 990.

Part VII, Section A · reportable compensation
Fran Pepis
President
$0Pt VII · Sec A
$0Pt VII · Sec A
Brenda Ezell
Treasurer
$0Pt VII · Sec A
Veronica Catoe
Board Memeber
$0Pt VII · Sec A
Bill Ternent
Board Memeber
$0Pt VII · Sec A
Ray Parkhurst
Board Memeber
$0Pt VII · Sec A
Linda Levin
Executive Director
$0Pt VII · Sec A
See Wise Owl 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

Holds property titles for Eldersource Inc. to support seniors.

Questions for Wise Owl Properties INC

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1 program · in their own filed words · FY2020
01

Rental of property to eldersource, inc.

Pt IX · col B

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$173K
Ln 12
Fees for servicesLn 2g$153K
Investment incomeLn 3$20K
Money outPt IX
$248K
Ln 25
Owns and owesPt X
$215K
net assets · Ln 32
Cash and savingsLn 1–2$235K
Total assetsLn 16$1.2M
LiabilitiesLn 26$1.0M
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a6
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$153K
Investment incomeLn 3$20K
Gains on assetsLn 7$20K
Total revenueLn 12$173K
Assets in detailPt X, end of year
CashLn 1$235K
Cash and savings togetherLn 1–2$235K
Land, buildings, equipmentLn 10c$995K
Other assetsLn 15$343
Total assetsLn 16$1.2M
LiabilitiesLn 26$1.0M
Net assetsLn 32$215K
OperationsPt I, VI
EmployeesI 50
VolunteersI 66
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$16K$235K
Land, buildings, equipmentLn 10c$2.0M$995K
Total assetsLn 16$2.1M$1.2M
LiabilitiesLn 26$1.9M$1.0M
Net assetsLn 32$178K$215K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$651
Office expensesLn 13$21
OccupancyLn 16$91K
InterestLn 20$44K
Depreciation, depletion and amortizationLn 22$68K
InsuranceLn 23$16K
Other expenses (24a–d)Ln 24$29K
Total functional expensesLn 25$248K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $135K$194K−$59K$96K 990 PDF
FY2023 $135K$175K−$40K$155K 990 PDF
FY2022 $135K$183K−$48K$195K 990 PDF
FY2021 $155K$126K$29K$243K 990 PDF
FY2020 Viewing $173K$248K−$75K$215K 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 FY2020 990 (6 parts)
Part I · Summary $172,539 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $135,000$152,700
I-10 Investment incomePrior year $0$19,839
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $135,000$172,539
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 $239,233$247,595
I-18 Total expensesPrior year $239,233$247,595
I-19 Revenue less expensesPrior year −$104,233−$75,056
Part VI · Governance 6 of 6 board members independent, 3 to look at
VI-1a Voting members of the governing body6
VI-1b Independent voting members6
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $172,539 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $152,700$152,700
VIII-3 Investment incomeExcluded from tax $2$2
VIII-7 Net gain or loss on sales of assetsExcluded from tax $19,837$19,837
VIII-12 Total revenueRelated to mission $152,700 · Unrelated business $0 · Excluded from tax $19,839$172,539
Part IX · Statement of functional expenses $247,595 across 7 lines filed
IX-11c Accounting fees$651
IX-13 Office expenses$21
IX-16 Occupancy$90,625
IX-20 Interest$43,881
IX-22 Depreciation, depletion and amortization$68,164
IX-23 Insurance$15,695
IX-24 Other expenses (24a–d)$28,558
IX-25 Total functional expenses$247,595
Part X · Balance sheet $1,232,573 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $15,632$234,513
X-9 Prepaid expenses and deferred chargesStart of year $3,278$3,125
X-10c Land, buildings and equipment, netStart of year $2,033,875$994,592
X-15 Other assetsStart of year $0$343
X-16 Total assetsStart of year $2,052,785$1,232,573
X-17 Accounts payable and accrued expensesStart of year $16,451$15,639
X-25 Other liabilitiesStart of year $548,036$547,214
X-26 Total liabilitiesStart of year $1,874,539$1,018,040
X-27 Net assets without donor restrictionsStart of year $178,246$214,533
X-32 Total net assets or fund balancesStart of year $178,246$214,533
X-33 Total liabilities and net assetsStart of year $2,052,785$1,232,573
Part XI · Reconciliation of net assets $214,533 net assets at year end
XI-1 Total revenue$172,539
XI-2 Total expenses$247,595
XI-3 Revenue less expenses−$75,056
XI-4 Net assets at start of year$178,246
XI-9 Other changes in net assets$111,343
XI-10 Net assets at end of year$214,533

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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