L&b Depp-Ucepp 5500 Preston Rd Inc
- Assets
- $72.7m
- Revenue
- $554.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Dallas, TX
- Founding
- 03/2005
- Data as of
- 12/2022
- EIN
- 20-1331127
Organization Overview
L&b Depp-Ucepp 5500 Preston Rd Inc is located in Dallas, TX. The organization was established in 2005. According to its NTEE Classification (S47) the organization is classified as: Real Estate Associations, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations.
For the year ending 12/2022, L&b Depp-Ucepp 5500 Preston Rd Inc generated $554.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (18.1%) each year.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE COMPANY IS ORGANIZED FOR THE PURPOSE OF ACQUIRING AND REMITTING THE ENTIRE AMOUNT OF INCOME TO THE TAX-EXEMPT ORGANIZATIONS THAT ARE SHAREHOLDERS IN THE CORPORATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ACQUIRING REAL PROPERTY AND REMITTING THE ENTIRE AMOUNT OF THE INCOME (LESS EXPENSES) FROM SUCH PROPERTY TO THE TAX-EXEMPT ORGANIZATIONS THAT ARE SHAREHOLDERS IN THE CORPORATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christine M Mullis Chairman Of The Board/ceo | OfficerTrustee | 1 | $0 |
Jennifer A Hanson Secretary/treasurer | OfficerTrustee | 1 | $0 |
Corinne Hoffman Vice President | OfficerTrustee | 1 | $0 |
Thomas M Burdi Vice President (through 6/10/2022) | Officer | 1 | $0 |
Merrill Curtis Vice President | Officer | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cbre Leasing Commission | 12/30/22 | $1,584,924 |
Younger Partners Dallas Llc Leasing Commission | 12/30/22 | $792,462 |
M Arthur Gensler Jr And Associates Architectural & Engineering | 12/30/22 | $170,990 |
Cirro Energy Electricity | 12/30/22 | $170,472 |
Institutional Property Managers Llc Property Management Fee | 12/30/22 | $129,096 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $35,262 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $519,535 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $554,797 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $0 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $300,257 |
| Savings and temporary cash investments | $343,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $8,712 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $20,221 |
| Net Land, buildings, and equipment | $67,100,000 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,960,692 |
| Total assets | $72,732,882 |
| Accounts payable and accrued expenses | $1,180,917 |
| Grants payable | $0 |
| Deferred revenue | $245,251 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $37,000,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $152,714 |
| Total liabilities | $38,578,882 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $27,616,608 |
| Retained earnings, endowment, accumulated income, or other funds | $6,537,392 |
| Total liabilities and net assets/fund balances | $72,732,882 |