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Wise Owl Properties INC FY2023 filing

Not tax-deductible

Jacksonville, FLMutual-benefit / member-serving EIN 45-5567819Revenue $135K in FY2023

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

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FY2023 · 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: 11.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$884K
85% of total assets
Concern: liabilities are 85% of assets; over 80%.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$135K
>-0.01% vs prior year
Spent
$175K
Net assets
$155K
By yearFY2020–FY2024
Revenue
$135K
FY2023>-0.01%
Tap a bar for its year
Revenue by fiscal year
FY2020$173K
FY2021$155K
FY2022$135K
FY2023$135K
FY2024$135K
Expenses
$175K
FY2023▼ -5%
Tap a bar for its year
Expenses by fiscal year
FY2020$248K
FY2021$126K
FY2022$183K
FY2023$175K
FY2024$194K
Net assets
$155K
FY2023▼ -20%
Tap a bar for its year
Net assets by fiscal year
FY2020$215K
FY2021$243K
FY2022$195K
FY2023$155K
FY2024$96K

From the FY2023 Form 990 · see the original

990 PDF Claim
You’re viewing the FY2023 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

6 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
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.

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1 program · in their own filed words · FY2023
01

Rental of property to eldersource, inc.

Pt IX · col B

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$135K
Ln 12
Fees for servicesLn 2g$135K
Money outPt IX
$175K
Ln 25
Owns and owesPt X
$155K
net assets · Ln 32
Cash and savingsLn 1–2$162K
Total assetsLn 16$1.0M
LiabilitiesLn 26$884K
PeoplePt VI, VII
6
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$135K
Total revenueLn 12$135K
Assets in detailPt X, end of year
CashLn 1$162K
Cash and savings togetherLn 1–2$162K
Land, buildings, equipmentLn 10c$875K
Total assetsLn 16$1.0M
LiabilitiesLn 26$884K
Net assetsLn 32$155K
OperationsPt I, VI
EmployeesI 50
VolunteersI 66
Fiscal year endsHeaderDecember
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 FY23End FY23
Cash and savingsLn 1–2$217K$162K
Land, buildings, equipmentLn 10c$912K$875K
Total assetsLn 16$1.1M$1.0M
LiabilitiesLn 26$936K$884K
Net assetsLn 32$195K$155K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$1K
Office expensesLn 13$7K
OccupancyLn 16$52K
TravelLn 17$171
InterestLn 20$11K
Depreciation, depletion and amortizationLn 22$41K
InsuranceLn 23$14K
Other expenses (24a–d)Ln 24$49K
Total functional expensesLn 25$175K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $135K$194K−$59K$96K 990 PDF
FY2023 Viewing $135K$175K−$40K$155K 990 PDF
FY2022 $135K$183K−$48K$195K 990 PDF
FY2021 $155K$126K$29K$243K 990 PDF
FY2020 $173K$248K−$75K$215K 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 FY2023 990 (6 parts)
Part I · Summary $135,000 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $135,000$135,000
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $4$0
I-12 Total revenuePrior year $135,004$135,000
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 $183,063$174,672
I-18 Total expensesPrior year $183,063$174,672
I-19 Revenue less expensesPrior year −$48,059−$39,672
Part VI · Governance 5 of 5 board members independent, 1 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
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
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $135,000 across 2 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $135,000$135,000
VIII-12 Total revenueRelated to mission $135,000 · Unrelated business $0 · Excluded from tax $0$135,000
Part IX · Statement of functional expenses $174,672 across 8 lines filed
IX-11c Accounting fees$1,056
IX-13 Office expenses$7,334
IX-16 Occupancy$51,919
IX-17 Travel$171
IX-20 Interest$11,225
IX-22 Depreciation, depletion and amortization$40,821
IX-23 Insurance$13,534
IX-24 Other expenses (24a–d)$48,612
IX-25 Total functional expenses$174,672
Part X · Balance sheet $1,039,445 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $216,623$161,659
X-9 Prepaid expenses and deferred chargesStart of year $2,435$2,579
X-10c Land, buildings and equipment, netStart of year $912,379$875,207
X-16 Total assetsStart of year $1,131,437$1,039,445
X-17 Accounts payable and accrued expensesStart of year $14,534$15,302
X-25 Other liabilitiesStart of year $558,908$554,348
X-26 Total liabilitiesStart of year $936,273$883,953
X-27 Net assets without donor restrictionsStart of year $195,164$155,492
X-32 Total net assets or fund balancesStart of year $195,164$155,492
X-33 Total liabilities and net assetsStart of year $1,131,437$1,039,445
Part XI · Reconciliation of net assets $155,492 net assets at year end
XI-1 Total revenue$135,000
XI-2 Total expenses$174,672
XI-3 Revenue less expenses−$39,672
XI-4 Net assets at start of year$195,164
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$155,492

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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