Provident Group - Bison Properties INC

Tax-deductible

Baton Rouge, LA501(c)(3)Since 2018EducationEIN 83-1863389

Provident Group - Howard Center Inc. promotes and advances education through the acquiring, constructing, renovating, furnishing, equipping, financing, owning, operating, and maintaining a mixed-use facility on the campus of Howard University.

501(c)(3) charity; gifts are tax-deductible.
99¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists 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
0 of 5
filings with a surplus
Average deficit $4.1M a year · 24% of revenue · last 5 filings
Concern: a surplus in 0 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
99%
of spending
Looks good: 99% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.9 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$313.6M
121% of total assets
Concern: liabilities are 121% of assets; over 80%.
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
$39.9M
+8% vs prior year
Spent
$43.7M
To programs
99%
Net assets
−$53.7M
By yearFY2020–FY2024
Revenue
$39.9M
FY2024▲ +8%
Revenue by fiscal year
FY2020$3.4M
FY2021$2.2M
FY2022$3.2M
FY2023$37.0M
FY2024$39.9M
Expenses
$43.7M
FY2024▼ -0.5%
Expenses by fiscal year
FY2020$6.6M
FY2021$4.4M
FY2022$7.3M
FY2023$43.9M
FY2024$43.7M
Net assets
−$53.7M
FY2024▼ -8%
Net assets by fiscal year
FY2020−$4.2M
FY2021−$6.4M
FY2022−$41.5M
FY2023−$49.9M
FY2024−$53.7M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Oct 2018.

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

Where the money goes

99 cents of each dollar spent went to programs.

Program services 99% · $43.2M Management & general 1% · $510K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Who runs it and what they're paid

4 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Vice President & Secretary
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
President
$0Pt VII · Sec A
See Provident Group - Bison 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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Builds, renovates, and operates a mixed-use facility to advance education at Howard University.

Provided by the organization

This section is blank until Provident Group - Bison Properties INC claims this page.

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1 program service account for $43.2M of program spending, described in the organization's own filed words · FY2024.
01

Provident Group

Bison properties inc. Promotes and advances education through the acquiring, financing, maintaining, and furnishing of education-related facilities and through the provision of various related programs, activities, and services.

$43.2Mprogram expense

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By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$39.9M
Ln 12
Fees for servicesLn 2g$37.3M
Investment incomeLn 3$2.3M
Other incomeLn 4–11$319K
Money outPt IX
$43.7M
Ln 25
Programscol B$43.2M
Managementcol C$510K
Owns and owesPt X
−$53.7M
net assets · Ln 32
Cash and savingsLn 1–2$3.5M
Total assetsLn 16$259.9M
LiabilitiesLn 26$313.6M
PeoplePt VI, VII
4
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$37.3M
Investment incomeLn 3$2.3M
Other incomeLn 4–11$319K
Total revenueLn 12$39.9M
Assets in detailPt X, end of year
CashLn 1$3.5M
Cash and savings togetherLn 1–2$3.5M
Land, buildings, equipmentLn 10c$179.5M
Other assetsLn 15$50.3M
Total assetsLn 16$259.9M
LiabilitiesLn 26$313.6M
Net assetsLn 32−$53.7M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
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
Cash and savingsLn 1–2$4.1M$3.5M
Land, buildings, equipmentLn 10c$182.9M$179.5M
Total assetsLn 16$265.9M$259.9M
LiabilitiesLn 26$315.8M$313.6M
Net assetsLn 32−$49.9M−$53.7M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$2.5M$2.5M
Pension plan contributionsLn 8$37K$37K
Other employee benefitsLn 9$143K$143K
Payroll taxesLn 10$182K$182K
Management feesLn 11a$1.6M$1.1M$510K
Legal feesLn 11b$231K$231K
Accounting feesLn 11c$48K$48K
Other fees for servicesLn 11g$257K$257K
Advertising and promotionLn 12$81K$81K
Office expensesLn 13$186K$186K
Information technologyLn 14$9K$9K
OccupancyLn 16$5.4M$5.4M
TravelLn 17$168K$168K
Conferences, conventions and meetingsLn 19$3K$3K
InterestLn 20$19.5M$19.5M
Depreciation, depletion and amortizationLn 22$8.2M$8.2M
InsuranceLn 23$1.1M$1.1M
Other expenses (24a–d)Ln 24$4.0M$4.0M
Total functional expensesLn 25$43.7M$43.2M$510K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $39.9M$43.7M−$3.8M−$53.7M 990 PDF
FY2023 $37.0M$43.9M−$6.9M−$49.9M 990 PDF
FY2022 $3.2M$7.3M−$4.0M−$41.5M 990 PDF
FY2021 $2.2M$4.4M−$2.2M−$6.4M 990 PDF
FY2020 $3.4M$6.6M−$3.3M−$4.2M 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 $39,890,526 across 3 lines filed
Lines not itemized here account for $2,272,567 of total revenue; see the IRS return.
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $37,299,319$37,299,319
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $318,640$318,640
VIII-12 Total revenueRelated to mission $37,299,319 · Unrelated business $0 · Excluded from tax $2,591,207$39,890,526
Part IX · Statement of functional expenses $43,715,271 across 18 lines filed
IX-7 Other salaries and wagesPrograms $2,543,933$2,543,933
IX-8 Pension plan contributionsPrograms $36,573$36,573
IX-9 Other employee benefitsPrograms $142,620$142,620
IX-10 Payroll taxesPrograms $182,394$182,394
IX-11a Management feesPrograms $1,076,312 · Management $510,000$1,586,312
IX-11b Legal feesPrograms $231,071$231,071
IX-11c Accounting feesPrograms $48,026$48,026
IX-11g Other fees for servicesPrograms $257,069$257,069
IX-12 Advertising and promotionPrograms $80,957$80,957
IX-13 Office expensesPrograms $186,124$186,124
IX-14 Information technologyPrograms $8,628$8,628
IX-16 OccupancyPrograms $5,396,266$5,396,266
IX-17 TravelPrograms $168,007$168,007
IX-19 Conferences, conventions and meetingsPrograms $2,916$2,916
IX-20 InterestPrograms $19,529,906$19,529,906
IX-22 Depreciation, depletion and amortizationPrograms $8,192,612$8,192,612
IX-23 InsurancePrograms $1,125,329$1,125,329
IX-24 Other expenses (24a–d)Programs $3,996,528$3,996,528
IX-25 Total functional expensesPrograms $43,205,271 · Management $510,000 · Fundraising $0$43,715,271
Part X · Balance sheet $259,902,707 assets, 15 lines filed
X-1 Cash, non-interest-bearingStart of year $4,128,829$3,457,944
X-4 Accounts receivableStart of year $3,276,219$603,848
X-9 Prepaid expenses and deferred chargesStart of year $421,990$573,769
X-10c Land, buildings and equipment, netStart of year $182,925,174$179,486,765
X-14 Intangible assetsStart of year $30,351,999$25,454,482
X-15 Other assetsStart of year $44,841,090$50,325,899
X-16 Total assetsStart of year $265,945,301$259,902,707
X-17 Accounts payable and accrued expensesStart of year $8,854,172$4,417,071
X-19 Deferred revenueStart of year $368,964$4,522
X-20 Tax-exempt bond liabilitiesStart of year $295,008,488$298,803,623
X-25 Other liabilitiesStart of year $11,575,266$10,363,825
X-26 Total liabilitiesStart of year $315,806,890$313,589,041
X-27 Net assets without donor restrictionsStart of year −$49,861,589−$53,686,334
X-32 Total net assets or fund balancesStart of year −$49,861,589−$53,686,334
X-33 Total liabilities and net assetsStart of year $265,945,301$259,902,707
Part XI · Reconciliation of net assets −$53,686,334 net assets at year end
XI-1 Total revenue$39,890,526
XI-2 Total expenses$43,715,271
XI-3 Revenue less expenses−$3,824,745
XI-4 Net assets at start of year−$49,861,589
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$53,686,334

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

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