Laburnum Properties INC: Nonprofit Profile, Financials & Form 990 (EIN 52-1260700)

Revenue by fiscal year
FY2020	$949K
FY2021	$339K
FY2022	$180K
FY2023	$1.1M
FY2024	$276K

Expenses by fiscal year
FY2020	$76K
FY2021	$129K
FY2022	$210K
FY2023	$149K
FY2024	$186K

Net assets by fiscal year
FY2020	$1.9M
FY2021	$6.5M
FY2022	$5.7M
FY2023	$7.1M
FY2024	$7.9M

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 →

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.

Questions for Laburnum Properties INC

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1 program · in their 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.

Form 990 Part III, line 4, FY2024. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 52-1260700) · Dispute this line

Pt IX · Ln 25 · col B

By the numbers

The FY2024 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$276K

Ln 12

Other incomeLn 4–11$150K

Investment incomeLn 3$125K

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$125K

Other incomeLn 4–11$150K

Gains on assetsLn 7$132K

Total revenueLn 12$276K

Assets in detailPt X, end of year

Prepaid expenses and deferred chargesLn 9$2K

Land, buildings, equipmentLn 10c$1.2M

InvestmentsLn 11–13$7.0M

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

Line	Start FY24	End 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

Line	Total	Programs	Management	Fundraising
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

Year	Money in	Money out	In minus out	Net assets	Download
FY2024 Latest ViewingFiled with the IRS Oct 22, 2025	$276K	$186K	$89K	$7.9M	990 PDF
FY2023Filed with the IRS Oct 28, 2024	$1.1M	$149K	$998K	$7.1M	990 PDF
FY2022Filed with the IRS Oct 18, 2023	$180K	$210K	−$30K	$5.7M	990 PDF
FY2021Filed with the IRS Jun 17, 2022	$339K	$129K	$210K	$6.5M	990 PDF
FY2020Filed with the IRS Jul 12, 2021	$949K	$76K	$872K	$1.9M	990 PDF

Schedules filed Part IV

A · Public support I · Grants O · Explanations

See the full FY2024 990

Part I · Summary $275,773 revenue, 12 lines filed

I-8 Contributions and grants$0

I-9 Program service revenue$0

I-10 Investment incomePrior year $1,094,117$257,803

I-11 Other revenuePrior year $52,676$17,970

I-12 Total revenuePrior year $1,146,793$275,773

I-13 Grants and similar amounts paid$0

I-14 Benefits paid to members$0

I-15 Salaries and benefits$0

I-16a Professional fundraising fees$0

I-17 Other expensesPrior year $148,540$186,384

I-18 Total expensesPrior year $148,540$186,384

I-19 Revenue less expensesPrior year $998,253$89,389

Part VI · Governance 0 of 4 board members independent, 1 to look at

VI-1a Voting members of the governing body4

VI-1b Independent voting members0

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 $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, 15 lines filed

X-5 Loans to officers and key peopleStart of year $0$0

X-6 Loans to other insidersStart of year $0$0

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-22 Loans from officers and insidersStart of year $0$0

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 FY2024 from the IRS (about our sources) · Classification, formation year and address from the IRS Business Master File

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Laburnum Properties INC

Before you give

Is it real?

Who runs it and what they're paid

Questions the 990 asks

Programs and updates

Questions for Laburnum Properties INC

By the numbers

Filing history

Schedules filed Part IV

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