Attach to Form 990 or Form 990-EZ.
Go to
www.irs.gov/Form990 for instructions and the latest information.
| (i) Name of supported organization | (ii) EIN | (iii) Type of organization (described on lines 1- 10 above (see instructions)) | (iv) Is the organization listed in your governing document? | (v) Amount of monetary support (see instructions) | (vi) Amount of other support (see instructions) | |
|---|---|---|---|---|---|---|
| Yes | No | |||||
|
Total |
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Calendar year
(or fiscal year beginning in)
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(a) 2018 | (b) 2019 | (c) 2020 | (d) 2021 | (e) 2022 | (f) Total | |
|---|---|---|---|---|---|---|---|
| 1 | Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grant.") .. | ||||||
| 2 | Tax revenues levied for the organization's benefit and either paid to or expended on its behalf.... | ||||||
| 3 | The value of services or facilities furnished by a governmental unit to the organization without charge.. | ||||||
| 4 | Total. Add lines 1 through 3 | ||||||
| 5 | The portion of total contributions by each person (other than a governmental unit or publicly supported organization) included on line 1 that exceeds 2% of the amount shown on line 11, column (f) .. | ||||||
| 6 | Public support. Subtract line 5 from line 4. | ||||||
Calendar year
(or fiscal year beginning in)
![]() |
(a) 2018 | (b) 2019 | (c) 2020 | (d) 2021 | (e) 2022 | (f) Total | |
|---|---|---|---|---|---|---|---|
| 7 | Amounts from line 4.. | ||||||
| 8 | Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources... | ||||||
| 9 | Net income from unrelated business activities, whether or not the business is regularly carried on.. | ||||||
| 10 | Other income. Do not include gain or loss from the sale of capital assets (Explain in Part VI.).. | ||||||
| 11 | Total support. Add lines 7 through 10 | ||||||
Calendar year (or fiscal year beginning in) ![]() |
(a) 2018 | (b) 2019 | (c) 2020 | (d) 2021 | (e) 2022 | (f) Total | |
|---|---|---|---|---|---|---|---|
| 1 | Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grants.") . | 6,862 | 650,000 | 1,790,293 | 683,333 | 1,537,500 | 4,667,988 |
| 2 | Gross receipts from admissions, merchandise sold or services performed, or facilities furnished in any activity that is related to the organization's tax-exempt purpose | 87,135,054 | 171,619,327 | 155,858,678 | 184,994,712 | 242,868,449 | 842,476,220 |
| 3 | Gross receipts from activities that are not an unrelated trade or business under section 513 ..... | 0 | |||||
| 4 | Tax revenues levied for the organization's benefit and either paid to or expended on its behalf... | 0 | |||||
| 5 | The value of services or facilities furnished by a governmental unit to the organization without charge | 0 | |||||
| 6 | Total. Add lines 1 through 5 | 87,141,916 | 172,269,327 | 157,648,971 | 185,678,045 | 244,405,949 | 847,144,208 |
| 7a | Amounts included on lines 1, 2, and 3 received from disqualified persons | 0 | 0 | 0 | 0 | 0 | 0 |
| b | Amounts included on lines 2 and 3 received from other than disqualified persons that exceed the greater of $5,000 or 1% of the amount on line 13 for the year. | 0 | 0 | 0 | 0 | 0 | 0 |
| c | Add lines 7a and 7b.. | 0 | 0 | 0 | 0 | 0 | 0 |
| 8 | Public support. (Subtract line 7c from line 6.) | 847,144,208 | |||||
Calendar year (or fiscal year beginning in) ![]() |
(a) 2018 | (b) 2019 | (c) 2020 | (d) 2021 | (e) 2022 | (f) Total | |
|---|---|---|---|---|---|---|---|
| 9 | Amounts from line 6... | 87,141,916 | 172,269,327 | 157,648,971 | 185,678,045 | 244,405,949 | 847,144,208 |
| 10a | Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources.. | 2,054,405 | 3,352,491 | 2,069,700 | 674,563 | 2,089,596 | 10,240,755 |
| b | Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975. | 54,541 | 57,055 | 43,297 | 72,403 | 78,191 | 305,487 |
| c | Add lines 10a and 10b. | 2,108,946 | 3,409,546 | 2,112,997 | 746,966 | 2,167,787 | 10,546,242 |
| 11 | Net income from unrelated business activities not included on line 10b, whether or not the business is regularly carried on. | 0 | |||||
| 12 | Other income. Do not include gain or loss from the sale of capital assets (Explain in Part VI.) .. | 17,571,233 | 20,150,071 | 21,785,854 | 21,803,351 | 31,431,873 | 112,742,382 |
| 13 | Total support. (Add lines 9, 10c, 11, and 12.).. | 106,822,095 | 195,828,944 | 181,547,822 | 208,228,362 | 278,005,609 | 970,432,832 |
| Section A - Adjusted Net Income | (A) Prior Year |
(B) Current Year (optional) |
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| 1 | Net short-term capital gain | 1 | ||||
| 2 | Recoveries of prior-year distributions | 2 | ||||
| 3 | Other gross income (see instructions) | 3 | ||||
| 4 | Add lines 1 through 3 | 4 | ||||
| 5 | Depreciation and depletion | 5 | ||||
| 6 | Portion of operating expenses paid or incurred for production or collection of gross income or for management, conservation, or maintenance of property held for production of income (see instructions) | 6 | ||||
| 7 | Other expenses (see instructions) | 7 | ||||
| 8 | Adjusted Net Income (subtract lines 5, 6 and 7 from line 4) | 8 | ||||
| Section B - Minimum Asset Amount | (A) Prior Year |
(B) Current Year (optional) |
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| 1 | Aggregate fair market value of all non-exempt-use assets (see instructions for short tax year or assets held for part of year): | 1 | ||||
| a | Average monthly value of securities | 1a | ||||
| b | Average monthly cash balances | 1b | ||||
| c | Fair market value of other non-exempt-use assets | 1c | ||||
| d | Total (add lines 1a, 1b, and 1c) | 1d | ||||
| e |
Discount claimed for blockage or other factors (explain in detail in Part VI): |
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| 2 | Acquisition indebtedness applicable to non-exempt use assets | 2 | ||||
| 3 | Subtract line 2 from line 1d | 3 | ||||
| 4 | Cash deemed held for exempt use. Enter 0.015 of line 3 (for greater amount, see instructions). | 4 | ||||
| 5 | Net value of non-exempt-use assets (subtract line 4 from line 3) | 5 | ||||
| 6 | Multiply line 5 by 0.035 | 6 | ||||
| 7 | Recoveries of prior-year distributions | 7 | ||||
| 8 | Minimum Asset Amount (add line 7 to line 6) | 8 | ||||
| Section C - Distributable Amount | Current Year | |||||
| 1 | Adjusted net income for prior year (from Section A, line 8, Column A) | 1 | ||||
| 2 | Enter 85% of line 1 | 2 | ||||
| 3 | Minimum asset amount for prior year (from Section B, line 8, Column A) | 3 | ||||
| 4 | Enter greater of line 2 or line 3 | 4 | ||||
| 5 | Income tax imposed in prior year | 5 | ||||
| 6 | Distributable Amount. Subtract line 5 from line 4, unless subject to emergency temporary reduction (see instructions) | 6 | ||||
| Section D - Distributions | Current Year | |
|---|---|---|
| 1 Amounts paid to supported organizations to accomplish exempt purposes | 1 | |
|
2
Amounts paid to perform activity that directly furthers exempt purposes of supported organizations, in excess of income from activity |
2 | |
| 3 Administrative expenses paid to accomplish exempt purposes of supported organizations | 3 | |
| 4 Amounts paid to acquire exempt-use assets | 4 | |
| 5 Qualified set-aside amounts (prior IRS approval required - provide details in Part VI) | 5 | |
| 6 Other distributions (describe in Part VI). See instructions | 6 | |
| 7Total annual distributions. Add lines 1 through 6. | 7 | |
|
8
Distributions to attentive supported organizations to which the organization is responsive (provide details in Part VI). See instructions |
8 | |
| 9 Distributable amount for 2022 from Section C, line 6 | 9 | |
| 10 Line 8 amount divided by Line 9 amount | 10 | |
| Section E - Distribution Allocations (see instructions) |
(i) Excess Distributions |
(ii) Underdistributions Pre-2022 |
(iii) Distributable Amount for 2022 |
|
|---|---|---|---|---|
| 1 Distributable amount for 2022 from Section C, line 6 | ||||
|
2
Underdistributions, if any, for years prior to 2022 (reasonable cause required-- explain in Part VI).
See instructions. |
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| 3 Excess distributions carryover, if any, to 2022: | ||||
| a From 2017....... | ||||
| b From 2018....... | ||||
| c From 2019....... | ||||
| d From 2020....... | ||||
| e From 2021....... | ||||
| fTotal of lines 3a through e | ||||
| g Applied to underdistributions of prior years | ||||
| h Applied to 2022 distributable amount | ||||
|
i
Carryover from 2017 not applied (see instructions) |
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| j Remainder. Subtract lines 3g, 3h, and 3i from line 3f. | ||||
| 4Distributions for 2022 from Section D, line 7: | ||||
| $ | ||||
| a Applied to underdistributions of prior years | ||||
| b Applied to 2022 distributable amount | ||||
| c Remainder. Subtract lines 4a and 4b from line 4. | ||||
|
5
Remaining underdistributions for years prior to 2022, if any. Subtract lines 3g and 4a from line 2. If the amount is greater than zero, explain in Part VI. See instructions. |
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|
6
Remaining underdistributions for 2022. Subtract lines 3h and 4b from line 1. If the amount is greater than zero, explain in Part VI. See instructions. |
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7 Excess distributions carryover to 2023. Add lines 3j and 4c. |
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| 8 Breakdown of line 7: | ||||
| a Excess from 2018..... | ||||
| b Excess from 2019..... | ||||
| c Excess from 2020..... | ||||
| d Excess from 2021..... | ||||
| e Excess from 2022..... | ||||
| Facts And Circumstances Test |
|---|
| Return Reference | Explanation |
|---|---|
| Schedule A, Part III, Line 12 Other Income | DESCRIPTION - OTHER INCOME, COLUMN A - 17571233.0, COLUMN B - 20150071.0, COLUMN C - 21785854.0, COLUMN D - 21803351.0, COLUMN E - 31431873.0, COLUMN F - XXX-XX-XXXX.0; |
| Software ID: | 22016089 |
| Software Version: | 2022v5.0 |
Attach to Form 990 or 990-EZ.
Go to www.irs.gov/Form990 for the latest information.
| Return Reference | Explanation |
|---|---|
| Form 990, Part III, Line 1 MISSION STATEMENT | (CONTINUED FROM FORM 990, PART III, LINE 1) OPERATION, MANAGEMENT, AND DISPOSITION OF SKILLED NURSING FACILITIES, ASSISTED LIVING FACILITIES, INDEPENDENT LIVING FACILITIES, REHABILITATIVE CARE FACILITIES, AND OTHER TYPES OF SENIOR LIVING FACILITIES. - SERVE TO PROMOTE AND ADVANCE THE PHYSICAL HEALTH, EMOTIONAL HEALTH, MENTAL HEALTH AND SOCIAL WELL-BEING OF THE INDIVIDUALS, FAMILIES, AND COMMUNITIES SERVED BY THE ORGANIZATION, WHICH MAY BE ACCOMPLISHED BY THE DEVELOPMENT, CONSTRUCTION, ACQUISITION, OWNERSHIP, MANAGEMENT, MAINTENANCE, OPERATION, AND DISPOSITION OF GENERAL AND ACUTE CARE, HOSPITAL FACILITIES, MEDICAL CLINICS, MENTAL HEALTH FACILITIES, REHABILITATIVE CARE FACILITIES, PEDIATRIC FACILITIES, MEDICAL RESEARCH AND DIAGNOSTIC FACILITIES, MEDICAL TRAINING AND EDUCATIONAL FACILITIES, AND OTHER TYPES OF INPATIENT RELATED SERVICES, PROGRAMS, AND ACTIVITIES THAT MAY BE PURSUED. - SERVE TO RELIEVE THE POOR AND DISTRESSED, COMBAT COMMUNITY DETERIORATION, ELIMINATE DISCRIMINATION AND PREJUDICE, AND LESSEN NEIGHBORHOOD TENSIONS BY PROVIDING SAFE, DECENT, AND SANITARY HOUSING TO PERSONS OF LOW AND VERY LOW INCOME. - SERVE TO LESSEN THE BURDEN OF GOVERNMENT, WHICH CHARITABLE PURPOSE MAY BE ACCOMPLISHED THROUGH VARIOUS MEANS, INCLUDING, WITHOUT LIMITATION, THE DEVELOPMENT, CONSTRUCTION, ACQUISITION, OWNERSHIP, MANAGEMENT, MAINTENANCE, OPERATION AND DISPOSITION OF PUBLIC FACILITIES, PUBLIC BUILDINGS, PUBLIC WORKS, AND INFRASTRUCTURE OF VARIOUS TYPES. - SERVE TO PROMOTE AND ADVANCE EDUCATION THROUGH VARIOUS MEANS INCLUDING THE DEVELOPMENT, CONSTRUCTION, ACQUISITION, OWNERSHIP, MANAGEMENT, MAINTENANCE, OPERATION, AND DISPOSITION OF FACILITIES OF VARIOUS TYPES INCLUDING EDUCATIONAL, RESEARCH, AND STUDENT-HOUSING FACILITIES AND THROUGH THE PROVISION OF DEVELOPMENT, ENRICHMENT, COUNSELING, TUTORING, AND OTHER ACTIVITIES, SERVICES, AND PROGRAMS. |
| Form 990, Part VI, Line 3 DELEGATION OF MANAGEMENT DUTIES | Provident Resources Group Inc. does contract with third party management companies to oversee day to day operations for some of its properties. However, the management company does not act in their capacity to perform the functions typically done by officers or directors. These properties have committees that make recommendations to the officers and directors of Provident Resources Group Inc.. The Provident Resources Group Inc. officers and directors have the ultimate authority to make these decisions. |
| Form 990, Part VI, Line 1a Delegate broad authority to a committee | Board-Delegated Power Committees of Directors; Executive Committee: Pursuant to Section 14-3-825 of the Act, the Board of Directors, by resolution passed by a majority of the Directors then in office, may designate one or more other committees to have to the extent provided in such resolution. The Board of Directors may designate and exercise the Board of Director's authority under Section 14-3-801 of the Act ("Board-delegated powers") such committees as it determines necessary or appropriate for the conduct of the Corporation's affairs, each such committee to consist of such Directors of the Corporation and such other persons (who formerly were members of the Board of Directors) as are appointed by the board who shall serve at the pleasure of the Board of Directors. Except to the extent that such grant of powers is limited by Section 14-3-825 of the Act, to the extent provided in the resolution, any such committee with Board-delegated powers will have and may exercise all the authority of the Board of Directors granted to it by resolution of the Board of Directors. Such committee or committees will have such name or names as may be determined from time to time by resolution adopted by the Board of Directors. Each committee shall elect a chairman from among the members of such committee. Each committee shall also keep regular minutes of its proceedings and report the same to the Board of Directors when required. The Board of Directors may, by resolution passed by a majority of the Directors then in office, at any time change the members of; fill vacancies in; limit, expand or alter the authority of; and discharge any committee of said Board of Directors. The Board of Directors may, but shall not be required to, create an Executive Committee of the Board of Directors. If created, the Executive Committee shall be created pursuant to this Section 7.1 and shall, in the interim between meetings of the Board of Directors, have and exercise such power and authority of the Board of Directors under Section 14-3-801 in the management of the affairs of the Corporation as are delegated by the Board of Directors as limited by the Act. |
| Form 990, Part VI, Line 2 Family/business relationships amongst interested persons | STEVE HICKS, DONOVAN HICKS and CHRISTOPHER HICKS - Family relationship |
| Form 990, Part VI, Line 4 Significant changes to organizational documents | The organization amended the bylaws during 2022 to change the number of board members to be not less than three and no more than twenty members. |
| Form 990, Part VI, Line 11b Review of form 990 by governing body | The final draft of the Form 990 was reviewed in detail by management. The final draft was then presented to audit committee (comprised of non management board members) for their review and information. each voting member of the governing body also received a copy of the Form 990 before it was filed with the IRS. |
| Form 990, Part VI, Line 12c Conflict of interest policy | All members of senior management, board of directors, and board committees sign annual conflict of interest statements. All statements are collected and reviewed by Chief Compliance Officer. Electronic and paper copies of all COI forms are maintained. If a matter concerning a potential conflict arises at a committee or board meeting, the conflict is evaluated without the potentially conflicted member and a determination is made by the committee or governing board about whether the person should be restricted from discussion and vote. |
| Form 990, Part VI, Line 15a Process to establish compensation of top management official | The human resources department performs a market review of compensation for all officers. That analysis is compared to historical compensation and evaluated relative to the percentile for the industry and size. Combined with overall performance, the analysis is presented to the Compensation Committee comprised of members of the governing board of Provident Resources Group Inc. for their review, deliberation, and decision regarding compensation for the officers. This process was used for the compensation of all officers of Provident Resources Group, Inc. Minutes are maintained to document the deliberations and actions of the committee. |
| Form 990, Part VI, Line 15b Process to establish compensation of other employees | See narrative above for Part VI, Line 15a |
| Form 990, Part VI, Line 19 Required documents available to the public | The organization's financial statements, conflict of interest policy, and governing documents are available upon written request. |
| Form 990, Part VIII, Line 2c REVENUE FROM SALES-TYPE LEASE | Provident Resources Group Inc's education properties have net investment in sales-type leases. The properties deferred the interest income on the sales-type leases, which is being recognized as operating interest income over the life of the leases. |
| Form 990, Part VIII, Line 7c Gain on Sale of Assets | In 2022, the fixed assets and operations of one of the Organization's disregarded entities were sold to an unrelated third party. The transaction resulted in a net book gain as reported on Line 7c of Part VIII. The net proceeds from the sale of the program-related assets remaining after discharging the outstanding mortgage indebtedness are being used in furtherance of the charitable purposes and activities of the Organization. |
| Form 990, Part VIII, Line 2f Other Program Service Revenue | Ancillary Revenue - Total Revenue: 480866, Related or Exempt Function Revenue: 480866, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ; |
| Form 990, Part VIII, Line 11d Other Miscellaneous Revenue | other revenue - Total Revenue: 7181618, Related or Exempt Function Revenue: 7181618, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ; other revenue - Total Revenue: 8419267, Related or Exempt Function Revenue: 8419267, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ; |
| Form 990, Part XI, Line 9 Other changes in net assets or fund balances | UNREALIZED GAIN/LOSS ON INTEREST RATE SWAP - 9116108; ELIMINATION ADJUSTMENT - 2926924; |
| Software ID: | 22016089 |
| Software Version: | 2022v5.0 |