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Laburnum Properties INC

Not tax-deductible

Blue Ash, OHMutual-benefit / member-servingEIN 52-1260700

Title holding company - primarily supporting memorial regional medical center, INC.

Run by 1 volunteers.
Mission: Form 990 Part I, line 1 · People: Part I, lines 5–6

Before you give

FY2024 · 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
4 of 5
filings with a surplus
Average surplus $428K a year · 74% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Liabilities
$286K
3% of total assets
Looks good: liabilities are 3% of assets; 50% or less.
Pt X · Ln 26
Independent board members
0
of 4 voting members
Concern: none of 4 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$276K
-76% vs prior year
Spent
$186K
To programs
0%
Net assets
$7.9M
By yearFY2020–FY2024
Revenue
$276K
FY2024▼ -76%
Revenue by fiscal year
FY2020$949K
FY2021$339K
FY2022$180K
FY2023$1.1M
FY2024$276K
Expenses
$186K
FY2024▲ +25%
Expenses by fiscal year
FY2020$76K
FY2021$129K
FY2022$210K
FY2023$149K
FY2024$186K
Net assets
$7.9M
FY2024▲ +12%
Net assets by fiscal year
FY2020$1.9M
FY2021$6.5M
FY2022$5.7M
FY2023$7.1M
FY2024$7.9M

From the FY2024 Form 990 · see the original

Form 990 (PDF) Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Sep 1982.

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

Who runs it and what they're paid

5 people listed on the 990.

Part VII, Section A · reportable compensation
Michael Lutes
President/CEO - Richmond
$0Pt VII · Sec A
Rhodes Ritenour
Secretary; VP External & Regulatory Affairs
$0Pt VII · Sec A
William Kusnierz
Treasurer/CFO - Richmond
$0Pt VII · Sec A
Brian Yanofchick
Board Member, Chief Sponsorship Officer
$0Pt VII · Sec A
Paul Smith
Former Interim President - Richmond
$0Pt VII · Sec A
See Laburnum 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 and manages real estate assets to support the operations of Memorial Regional Medical Center and IVNA Health Services.

Provided by the organization

This section is blank until Laburnum Properties INC claims this page.

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1 program service, described in the organization's own filed words · FY2024.
01

Laburnum Properties is a title holding company holding primarily non-operating assets used in supporting the operations of Bon Secours Memorial Regional Medical Center and IVNA Health Services.

Pt IX · col B

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By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$276K
Ln 12
Investment incomeLn 3$258K
Other incomeLn 4–11$18K
Money outPt IX
$186K
Ln 25
Owns and owesPt X
$7.9M
net assets · Ln 32
Total assetsLn 16$8.2M
LiabilitiesLn 26$286K
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a4
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Investment incomeLn 3$258K
Other incomeLn 4–11$18K
Gains on assetsLn 7$132K
Total revenueLn 12$276K
Assets in detailPt X, end of year
InvestmentsLn 11–13$7.0M
Land, buildings, equipmentLn 10c$1.2M
Other assetsLn 15$3K
Total assetsLn 16$8.2M
LiabilitiesLn 26$286K
Net assetsLn 32$7.9M
OperationsPt I, VI
EmployeesI 50
VolunteersI 61
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 FY24End FY24
InvestmentsLn 11–13$6.5M$7.0M
Land, buildings, equipmentLn 10c$1.0M$1.2M
Total assetsLn 16$7.5M$8.2M
LiabilitiesLn 26$461K$286K
Net assetsLn 32$7.1M$7.9M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other fees for servicesLn 11g$0
OccupancyLn 16$154K
Depreciation, depletion and amortizationLn 22$32K
All other expensesLn 24e$0
Total functional expensesLn 25$186K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $276K$186K$89K$7.9M 990 PDF
FY2023 $1.1M$149K$998K$7.1M 990 PDF
FY2022 $180K$210K−$30K$5.7M 990 PDF
FY2021 $339K$129K$210K$6.5M 990 PDF
FY2020 $949K$76K$872K$1.9M 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 FY2024 990 (4 parts)
Part VIII · Statement of revenue $275,773 across 6 lines filed
VIII-1h Total contributions, gifts and grants$0
VIII-3 Investment incomeExcluded from tax $125,434$125,434
VIII-6 Net rental income or lossExcluded from tax $17,970$17,970
VIII-7 Net gain or loss on sales of assetsExcluded from tax $132,369$132,369
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $275,773$275,773
Part IX · Statement of functional expenses $186,384 across 4 lines filed
IX-11g Other fees for services$0
IX-16 Occupancy$154,261
IX-22 Depreciation, depletion and amortization$32,123
IX-24e All other expenses$0
IX-25 Total functional expenses$186,384
Part X · Balance sheet $8,217,724 assets, 12 lines filed
X-9 Prepaid expenses and deferred charges$1,648
X-10c Land, buildings and equipment, netStart of year $1,006,242$1,202,810
X-11 Publicly traded securitiesStart of year $6,516,694$7,010,761
X-15 Other assetsStart of year $4,230$2,505
X-16 Total assetsStart of year $7,527,166$8,217,724
X-17 Accounts payable and accrued expensesStart of year $208,737$0
X-19 Deferred revenueStart of year $252,651$286,416
X-25 Other liabilitiesStart of year $0$0
X-26 Total liabilitiesStart of year $461,388$286,416
X-27 Net assets without donor restrictionsStart of year $7,065,778$7,931,308
X-32 Total net assets or fund balancesStart of year $7,065,778$7,931,308
X-33 Total liabilities and net assetsStart of year $7,527,166$8,217,724
Part XI · Reconciliation of net assets $7,931,308 net assets at year end
XI-1 Total revenue$275,773
XI-2 Total expenses$186,384
XI-3 Revenue less expenses$89,389
XI-4 Net assets at start of year$7,065,778
XI-5 Net unrealized gains (losses) on investments$236,264
XI-9 Other changes in net assets$539,877
XI-10 Net assets at end of year$7,931,308

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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