Gulf Health Properties Inc
- Assets
- $15.1m
- Revenue
- $2.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Mobile, AL
- Founding
- 06/1988
- Data as of
- 03/2023
- EIN
- 63-0933700
Organization Overview
Gulf Health Properties Inc is located in Mobile, AL. The organization was established in 1988. According to its NTEE Classification (E19) the organization is classified as: Support N.E.C., under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Gulf Health Properties Inc is a 501(c)(2) and as such, is described as a "Title Holding Corporation for an Exempt Organization" by the IRS.
For the year ending 03/2023, Gulf Health Properties Inc generated $2.0m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 8.2% each year. All expenses for the organization totaled $560.4k during the year ending 03/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
GULF HEALTH PROPERTIES HOLDS TITLE TO RENTAL PROPERTIES AND PROVIDES MANAGEMENT SERVICES INCLUDING COLLECTION OF RENTS AND MAINTENANCE OF BUILDINGS AND GROUNDS FOR THE 501(C)(3) PARENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AS A 501(C)(2) ORGANIZATION, GULF HEALTH PROPERTIES HOLDS TITLE TO RENTAL PROPERTIES AND PROVIDES MANAGEMENT SERVICES FOR THE PROPERTIES, INCLUDING COLLECTION OF RENTS AND MAINTENANCE OF BUILDINGS AND GROUNDS.
GULF HEALTH PROPERTIES LEASES A 9,386 SQ FT BUILDING TO VICTORY HEALTH PARTNERS FOR 1 PER YEAR. THE PROPERTY HAS A LEASE FAIR MARKET VALUE OF APPROXIMATELY 122,018 ANNUALLY. VICTORY HEALTH PARTNERS IS A NON-PROFIT 501(C)(3) HEALTHCARE ORGANIZATION ESTABLISHED TO PROVIDE A CONTINUUM OF AFFORDABLE QUALITY HEALTH CARE FOR THE LOW INCOME UNINSURED POPULATION OF THE GREATER MOBILE AREA. VICTORY DOES NOT ACCEPT INSURANCE OR GOVERNMENT FUNDING AND IT IS FUNDED BY TAX DEDUCTIBLE CONTRIBUTIONS FROM BOTH CORPORATE AND INDIVIDUAL SUPPORTERS. VICTORY HAS A NETWORK OF OVER 150 PHYSICIANS AND DENTISTS WHO DONATE THEIR SERVICES. GULF HEALTH PROPERTIES, INC. DONATES THE MEDICAL OFFICE BUILDING USED TO PROVIDE THEIR SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
D Mark Nix Chairman/pre | OfficerTrustee | 2 | $0 |
Joe T Stough III Vice Preside | Officer | 2 | $0 |
Joseph Denton Treasurer | OfficerTrustee | 2 | $0 |
Scott Browning Secretary | OfficerTrustee | 2 | $0 |
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 | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $604,082 |
| Net Gain/Loss on Asset Sales | $1,440,647 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,044,729 |
| 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 | $80,574 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,400 |
| 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 | $310,615 |
| Insurance | $0 |
| All other expenses | $166,776 |
| Total functional expenses | $560,365 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,348,862 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,206,060 |
| 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 | $2,128 |
| Net Land, buildings, and equipment | $8,536,420 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $15,093,470 |
| Accounts payable and accrued expenses | $714 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $156,128 |
| Total liabilities | $156,842 |
| Net assets without donor restrictions | $14,936,628 |
| 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 | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $15,093,470 |