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Laburnum Properties INC FY2022 filing

Not tax-deductible

Blue Ash, OHMutual-benefit / member-serving EIN 52-1260700Revenue $180K in FY2022

On file with the IRS4600 McAuley Pl Ste 100, 45242-4769 · Blue Ash, OHTax-exempt since Sep 1982

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

Mission: Form 990 Part I, line 1

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FY2022 · 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
$1.3M
18% of total assets
Looks good: liabilities are 18% of assets; 50% or less.
Pt X · Ln 26
Independent board members
0
of 3 voting members
Concern: none of 3 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$180K
-47% vs prior year
Spent
$210K
To programs
0%
Net assets
$5.7M
By yearFY2020–FY2024
Revenue
$180K
FY2022▼ -47%
Tap a bar for its year
Revenue by fiscal year
FY2020$949K
FY2021$339K
FY2022$180K
FY2023$1.1M
FY2024$276K
Expenses
$210K
FY2022▲ +63%
Tap a bar for its year
Expenses by fiscal year
FY2020$76K
FY2021$129K
FY2022$210K
FY2023$149K
FY2024$186K
Net assets
$5.7M
FY2022▼ -12%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.9M
FY2021$6.5M
FY2022$5.7M
FY2023$7.1M
FY2024$7.9M

From the FY2022 Form 990 · see the original

990 PDF Claim
You’re viewing the FY2022 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 Sep 1982.

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

Who runs it and what they're paid

8 people listed on the 990.

Part VII, Section A · reportable compensation
Rhodes Ritenour
Secretary, VP External & Regulatory Affairs
$0Pt VII · Sec A
SR Anne Marie Mack Cbs
President (end 02/22)
$0Pt VII · Sec A
William Kusnierz
Treasurer/CFO - Richmond
$0Pt VII · Sec A
Brian Yanofchick
Chief Sponsorship Officer
$0Pt VII · Sec A
David Belde PHD
Board Member (end 12/22)
$0Pt VII · Sec A
Faraaz Yousuf
President/CEO - Richmond (end 04/22)
$0Pt VII · Sec A
Michael Lutes
President/CEO - Richmond (beg 10/22)
$0Pt VII · Sec A
Paul Smith
President, Providence Group (end 07/22); Interim President - Richmond (end 10/22)
$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.

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1 program · in their own filed words · FY2022
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

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$180K
Ln 12
Investment incomeLn 3$127K
Other incomeLn 4–11$53K
Money outPt IX
$210K
Ln 25
Owns and owesPt X
$5.7M
net assets · Ln 32
Total assetsLn 16$7.0M
LiabilitiesLn 26$1.3M
PeoplePt VI, VII
8
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Investment incomeLn 3$127K
Other incomeLn 4–11$53K
Gains on assetsLn 7$61K
Total revenueLn 12$180K
Assets in detailPt X, end of year
InvestmentsLn 11–13$6.1M
Land, buildings, equipmentLn 10c$888K
Other assetsLn 15$20K
Total assetsLn 16$7.0M
LiabilitiesLn 26$1.3M
Net assetsLn 32$5.7M
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 FY22End FY22
InvestmentsLn 11–13$6.9M$6.1M
Land, buildings, equipmentLn 10c$969K$888K
Total assetsLn 16$7.9M$7.0M
LiabilitiesLn 26$1.3M$1.3M
Net assetsLn 32$6.6M$5.7M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$192
Other employee benefitsLn 9$13
Other fees for servicesLn 11g$0
OccupancyLn 16$129K
Depreciation, depletion and amortizationLn 22$80K
All other expensesLn 24e$100
Total functional expensesLn 25$210K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $276K$186K$89K$7.9M 990 PDF
FY2023 $1.1M$149K$998K$7.1M 990 PDF
FY2022 Viewing $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 R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2022 990 (6 parts)
Part I · Summary $179,978 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenue$0
I-10 Investment incomePrior year $172,616$127,302
I-11 Other revenuePrior year $17,559$52,676
I-12 Total revenuePrior year $190,175$179,978
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$205
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $65,690$209,795
I-18 Total expensesPrior year $65,690$210,000
I-19 Revenue less expensesPrior year $124,485−$30,022
Part VI · Governance 0 of 3 board members independent, 1 to look at
VI-1a Voting members of the governing body3
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 $179,978 across 5 lines filed
VIII-1h Total contributions, gifts and grants$0
VIII-3 Investment incomeExcluded from tax $66,168$66,168
VIII-6 Net rental income or lossExcluded from tax $52,676$52,676
VIII-7 Net gain or loss on sales of assetsExcluded from tax $61,134$61,134
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $179,978$179,978
Part IX · Statement of functional expenses $210,000 across 6 lines filed
IX-7 Other salaries and wages$192
IX-9 Other employee benefits$13
IX-16 Occupancy$129,239
IX-22 Depreciation, depletion and amortization$80,456
IX-24e All other expenses$100
IX-25 Total functional expenses$210,000
Part X · Balance sheet $6,960,943 assets, 11 lines filed
X-10c Land, buildings and equipment, netStart of year $968,906$888,450
X-11 Publicly traded securitiesStart of year $6,901,356$6,052,380
X-15 Other assetsStart of year $59,961$20,113
X-16 Total assetsStart of year $7,930,989$6,960,943
X-17 Accounts payable and accrued expensesStart of year $47,393$39,744
X-19 Deferred revenueStart of year $1,266,491$1,222,311
X-25 Other liabilitiesStart of year $0$0
X-26 Total liabilitiesStart of year $1,313,884$1,262,055
X-27 Net assets without donor restrictionsStart of year $6,617,105$5,698,888
X-32 Total net assets or fund balancesStart of year $6,617,105$5,698,888
X-33 Total liabilities and net assetsStart of year $7,930,989$6,960,943
Part XI · Reconciliation of net assets $5,698,888 net assets at year end
XI-1 Total revenue$179,978
XI-2 Total expenses$210,000
XI-3 Revenue less expenses−$30,022
XI-4 Net assets at start of year$6,617,105
XI-5 Net unrealized gains (losses) on investments−$976,277
XI-9 Other changes in net assets$88,082
XI-10 Net assets at end of year$5,698,888

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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