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Properties Trust FY2022 filing

Tax-deductible

Nashville, TN501(c)(3)Since 2020 EIN 85-6300065Revenue $185K in FY2022

On file with the IRSmtcbsa.org3414 Hillsboro Pike, 37215-1412 · Nashville, TNTax-exempt since Aug 2020Supporting org, Type I — 509(a)(3)

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The Properties Trust under agreement dated june 12, 2020 (the 'properties trust') is a tennessee charitable Trust whose purpose is to support the activities, purposes, and mission of the middle tennessee council, INC., boy scouts of america ('mtc'), a tennessee nonprofit public benefit corporation exempt from federal income taxation under section 501(c)(3) of the code that has been in existence for nearly 90 years. Further, the Properties Trust has been established to be a supporting organization within the meaning of secton 509(a)(3) of the code (a 'supporting organization') and, more specifically, a type I supporting organization under section 509(a)(3)(b)(I) of the code (a 'type I supporting organization') with respect to mtc.

501(c)(3) charity; gifts are tax-deductible.
83¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2022 · 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 6
filings with a surplus
Average surplus $343K a year · 32% of revenue · last 6 filings
Worth a look: a surplus in 3 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
83%
of spending
Looks good: 83% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
68 mo
of spending, in cash
Looks good: 68.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $106K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$185K
-45% vs prior year
Spent
$677K
To programs
83%
Net assets
$18.6M
By yearFY2020–FY2025
Revenue
$185K
FY2022▼ -45%
Tap a bar for its year
Revenue by fiscal year
FY2020$859K
FY2021$336K
FY2022$185K
FY2023$1.6M
FY2024$3.2M
FY2025$291K
Expenses
$677K
FY2022▼ -5%
Tap a bar for its year
Expenses by fiscal year
FY2020$788K
FY2021$710K
FY2022$677K
FY2023$715K
FY2024$804K
FY2025$759K
Net assets
$18.6M
FY2022▼ -1%
Tap a bar for its year
Net assets by fiscal year
FY2020$20.0M
FY2021$18.8M
FY2022$18.6M
FY2023$19.4M
FY2024$22.1M
FY2025$23.1M

From the FY2022 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Aug 2020.

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

Where the money goes

83 cents of each dollar spent went to programs.

Program services 83% · $563K Management & general 6% · $42K Fundraising 11% · $72K

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

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Who runs it and what they're paid

9 people listed on the 990.

Part VII, Section A · reportable compensation
Clay Bright
Chair and Trustee
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Rob McCabe
Trustee
$0Pt VII · Sec A
See Properties Trust 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 15aYes

Programs and updates

Supports Boy Scouts of America activities through property management and trust.

Questions for Properties Trust

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Provided by the organization

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1 program · $563K · in their own filed words · FY2022
01

The properties trust under agreement dated june 12, 2020 (the 'properties trust') is a tennessee charitable trust whose purpose is to support the activities, purposes, and mission of the middle tennessee council, inc., boy scouts of america ('MTC'), a tennessee nonprofit public benefit corporation exempt from federal income taxation…

$563Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
Ebs FoundationFY2024$100K
Morgan Stanley Global Impact Funding Trust INCFY2024$6K
Total grants receivedfrom 2 funders$106K

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$185K
Ln 12
Gifts and grantsLn 1h$185K
Money outPt IX
$677K
Ln 25
Programscol B$563K
Managementcol C$42K
Fundraisingcol D$72K
Owns and owesPt X
$18.6M
net assets · Ln 32
Cash and savingsLn 1–2$3.9M
Total assetsLn 16$18.6M
LiabilitiesLn 26$0
PeoplePt VI, VII
9
listed · VII A
PaidVII A0
Voting boardVI 1a0
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$185K
Noncash giftsLn 1g$99K
Total revenueLn 12$185K
Assets in detailPt X, end of year
CashLn 1$3.0M
SavingsLn 2$897K
Cash and savings togetherLn 1–2$3.9M
Land, buildings, equipmentLn 10c$14.7M
Other assetsLn 15$0
Total assetsLn 16$18.6M
LiabilitiesLn 26$0
Net assetsLn 32$18.6M
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 FY22End FY22
Cash and savingsLn 1–2$5.6M$3.9M
Land, buildings, equipmentLn 10c$13.9M$14.7M
Total assetsLn 16$18.8M$18.6M
LiabilitiesLn 26$0$0
Net assetsLn 32$18.8M$18.6M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$51K$42K$3K$6K
Other employee benefitsLn 9$3K$3K$170$341
Payroll taxesLn 10$4K$3K$182$365
Other fees for servicesLn 11g$7K$672$6K$60
OccupancyLn 16$88K$85K$1K$2K
Depreciation, depletion and amortizationLn 22$519K$426K$31K$62K
InsuranceLn 23$3K$3K$53$105
Other expenses (24a–d)Ln 24$2K$2K$16$33
Total functional expensesLn 25$677K$563K$42K$72K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $291K$759K−$468K$23.1M 990 PDF
FY2024 $3.2M$804K$2.4M$22.1M 990 PDF
FY2023 $1.6M$715K$935K$19.4M 990 PDF
FY2022 Viewing $185K$677K−$492K$18.6M 990 PDF
FY2021 $336K$710K−$375K$18.8M 990 PDF
FY2020 $859K$788K$71K$20.0M 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 M · Noncash O · Explanations
See the full FY2022 990 (6 parts)
Part I · Summary $184,745 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $335,617$184,745
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $335,617$184,745
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 $62,517$58,349
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $647,651$618,779
I-18 Total expensesPrior year $710,168$677,128
I-19 Revenue less expensesPrior year −$374,551−$492,383
Part VI · Governance no flags
VI-1a Voting members of the governing body0
VI-1b Independent voting members0
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
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $184,745 across 4 lines filed
VIII-1f All other contributions, gifts and grants$184,745
VIII-1g Noncash contributions (included above)$99,450
VIII-1h Total contributions, gifts and grants$184,745
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$184,745
Part IX · Statement of functional expenses $677,128 across 8 lines filed
IX-7 Other salaries and wagesPrograms $41,868 · Management $3,064 · Fundraising $6,127$51,059
IX-9 Other employee benefitsPrograms $2,872 · Management $170 · Fundraising $341$3,383
IX-10 Payroll taxesPrograms $3,360 · Management $182 · Fundraising $365$3,907
IX-11g Other fees for servicesPrograms $672 · Management $6,388 · Fundraising $60$7,120
IX-16 OccupancyPrograms $84,654 · Management $1,204 · Fundraising $2,408$88,266
IX-22 Depreciation, depletion and amortizationPrograms $425,567 · Management $31,139 · Fundraising $62,279$518,985
IX-23 InsurancePrograms $2,551 · Management $53 · Fundraising $105$2,709
IX-24 Other expenses (24a–d)Programs $1,650 · Management $16 · Fundraising $33$1,699
IX-25 Total functional expensesPrograms $563,194 · Management $42,216 · Fundraising $71,718$677,128
Part X · Balance sheet $18,602,070 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $4,390,446$2,956,572
X-2 Savings and temporary cash investmentsStart of year $1,188,828$897,418
X-10c Land, buildings and equipment, netStart of year $13,946,051$14,748,080
X-15 Other assetsStart of year −$693,408$0
X-16 Total assetsStart of year $18,831,917$18,602,070
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $14,366,121$14,190,652
X-28 Net assets with donor restrictionsStart of year $4,465,796$4,411,418
X-32 Total net assets or fund balancesStart of year $18,831,917$18,602,070
X-33 Total liabilities and net assetsStart of year $18,831,917$18,602,070
Part XI · Reconciliation of net assets $18,602,070 net assets at year end
XI-1 Total revenue$184,745
XI-2 Total expenses$677,128
XI-3 Revenue less expenses−$492,383
XI-4 Net assets at start of year$18,831,917
XI-9 Other changes in net assets$262,536
XI-10 Net assets at end of year$18,602,070

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

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