Margaret Place Properties Inc
- Assets
- $197.0m
- Revenue
- $4.8m
- Investments
- $0.0
- Employees
- 0
- Location
- Shreveport, LA
- Founding
- 01/2018
- Data as of
- 05/2020
- EIN
- 82-1878290
Organization Overview
Margaret Place Properties Inc is located in Shreveport, LA. The organization was established in 2018. According to its NTEE Classification (E60) the organization is classified as: Health Support, 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. Margaret Place Properties Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 05/2020, Margaret Place Properties Inc generated $4.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (61.2%) each year. All expenses for the organization totaled $9.5m during the year ending 05/2020. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
THIS CORPORATION IS ORGANIZED TO ACQUIRE TITLE TO REAL PROPERTY FORMERLY OPERATED AS A HOSPITAL BY CHRISTUS HEALTH NORTHERN LOUISIANA ("CHRISTUS HEALTH"), WHICH INTENDS TO DONATE SUCH PROPERTY (HEREINAFTER THE "ST. MARY CAMPUS")TO THE CORPORATION ON OR BEFORE JUNE 30, 2017. THE CORPORATION'S CHARITABLE PURPOSE WILL BE ACCOMPLISHED BY THE LEASING OF ST. MARY CAMPUS FACILITIES TO EXEMPT AND NON-EXEMPT HEALTH CARE PROVIDERS, HEALTH-CARE EDUCATIONAL ENTITIES, AND HEALTH-CARE RESEARCH ENTITIES. SUCH ACTIVITY WILL PERMIT THE CORPORATION, THROUGH ITS TENANTS, TO PROVIDE AN EFFICIENT, COST-EFFECTIVE, INTEGRATED HEALTH CARE CAMPUS AND HEALTH-CARE EDUCATION AND RESEARCH CENTER FOR THE CITIZENS .OF NORTHWEST LOUISIANA. THE CORPORATION MAY NOT LEASE TO ENTITIES WHICH DO NOT FURTHER ITS EXEMPT PURPOSE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BEGAN LEASE OPERATIONS EFFECTIVE WITH RECEIPT OF DONATED FACILITIES OF THE FORMER CHRISTUS SCHUMPERT PROPERTIES
BEGAN LEASE OPERATIONS EFFECTIVE WITH RECEIPT OF DONATED FACILITIES OF THE FORMER CHRISTUS SCHUMPERT PROPERTIES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William M Comegys III President | OfficerTrustee | 10 | $0 |
Raymond J Lasseigne Treasurer | OfficerTrustee | 1 | $0 |
Matthew St Amant Secretary | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Dmr Plumbing And Hvac | 5/30/18 | $165,950 |
Vintage Realty Company Management Fees, Property Manager Fees, | 5/30/18 | $579,051 |
Travelers Insurance Co Insurance | 5/30/18 | $275,764 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $500 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $4,848,539 |
| Statement of Expenses | |
|---|---|
| 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 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 | $120,000 |
| 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 | $5,599,384 |
| Insurance | $275,086 |
| All other expenses | $0 |
| Total functional expenses | $9,488,620 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,498,956 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $73,622 |
| 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 | $24,416 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $274,128 |
| Total assets | $197,007,270 |
| Accounts payable and accrued expenses | $5,157 |
| 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 | $235,746 |
| Total liabilities | $240,903 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $196,766,367 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Southeast Texas Regional Advisory Council Houston, TX | $4,089,891 | $16,447,154 |
The Preemptive Love Coalition Hewitt, TX | $18,071,135 | $12,206,645 |
Texas Health Medical Support Arlington, TX | $2,020,699 | $9,800,763 |
Parkland Center For Clinical Innovation Dallas, TX | $12,723,447 | $7,843,853 |
Halo Flight Inc Corpus Christi, TX | $37,866,404 | $10,412,099 |
Margaret Place Properties Inc Shreveport, LA | $197,007,270 | $4,848,539 |
Informed Consent Action Network Austin, TX | $6,446,816 | $13,347,386 |
Paeon Health Services Inc Austin, TX | $282,647 | $5,044,933 |
Victoria Healthcare Resources Pleasant Hill, LA | $1,068,277 | $4,292,409 |
Methodist Transplant Physicians Dallas, TX | $10,252 | $4,096,423 |
Central Texas Palliative Care Associates Austin, TX | $672,314 | $3,390,990 |
Society Of St Vincent De Paul Charitable Pharmacy Of North Texas Dallas, TX | $1,967,324 | $4,496,507 |