2023-11-15T14:55:25+00:00 2022-12-31 350921680 CROWE LLP 9600 Brownsboro Road Suite 400 Louisville KY 402413902 990 2022-01-01 842443503 Provident Group HSC Properties Inc PROV 2257663977 5565 Bankers Ave Baton Rouge LA 70808 STEVE HICKS PRESIDENT 2257663977 2023-11-15 true STEVE HICKS 999009999 RACHEL SPURLOCK P00520729 5023263996 2022 2023-04-26 12:10:37Z STEVE HICKS 5565 Bankers Ave Baton Rouge LA 70808 0 false X N/A X 2019 LA PROVIDENT GROUP - HSC PROPERTIES INC. PROMOTES AND ADVANCES EDUCATION AND HEALTH CARE THROUGH THE ACQUISITION, PLANNING, DEVELOPMENT, FINANCING, EQUIPPING, MANAGING, OPERATING, AND MAINTAINING OF ONE OR MORE DORMITORY FACILITIES, PARKING FACILITIES, AND OTHER ANCILLARY FACILITIES. 3 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 110577519 110469657 110577519 110469657 0 0 PROVIDENT GROUP - HSC PROPERTIES INC. PROMOTES AND ADVANCES EDUCATION AND HEALTH CARE THROUGH THE ACQUISITION, PLANNING, DEVELOPMENT, FINANCING, EQUIPPING, MANAGING, OPERATING, AND MAINTAINING OF ONE OR MORE DORMITORY FACILITIES, PARKING FACILITIES, AND OTHER ANCILLARY FACILITIES. false false PROVIDENT GROUP - HSC PROPERTIES, INC. PROMOTES AND ADVANCES EDUCATION AND HEALTH CARE THROUGH THE DEVELOPMENT, CONSTRUCTION, AND FURNISHMENT OF EDUCATION AND HEALTH CARE RELATED FACILITIES AND THROUGH THE PROVISION OF VARIOUS RELATED PROGRAMS, ACTIVITIES, AND SERVICES. 0 true false false false false false false false false true false false true true true true false false false false false false false false false false false false true true false false false false false false false false false false false false false false false true false false false true 0 0 0 false false false false false false false false false false false false X 3 0 true false false false true true true true true false false true true true true true true false false false X STEVE HICKS 2257663977 5565 BANKERS AVENUE BATON ROUGE LA 70808 CHRISTOPHER HICKS Director/VICE PRESIDENT/Treasurer 1.0 39.0 X X 0 934379 38107 DONOVAN O HICKS DIRECTOR/VICE PRESIDENT/SECRETARY 1.0 39.0 X X 0 713316 37766 STEVE HICKS PRESIDENT 1.0 39.0 X 0 946021 25847 0 2593716 101720 0 false true false 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 2518811 0 2518811 2518811 0 0 108058708 107950846 110577519 110469657 4178856 3169993 98308428 98656353 0 0 1870402 1517350 6219833 7125961 110577519 110469657 X 0 0 0 0 110577519 110469657 0 0 X false true X true false X X X 1 PROVIDENT RESOURCES GROUP INC 582492101 9 true 0 0 1 0 0 true false false false false false false false false false false false false false false true false 2518811 2518811 2518811 RESTRICTED ESCROWS 19655848 ACCRUED INTEREST RECEIVABLE 9708 Construction in progress 88285290 107950846 RETAINAGE PAYABLE 3305778 ACCRUED INTEREST PAYABLE 2820183 other liabilities 1000000 7125961 X 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Schedule D, Part VI, Line 1e OTHER PROVIDENT GROUP - HSC PROPERTIES INC. WAS UNDER CONSTRUCTION IN 2022 AND HAD "CONSTRUCTION IN PROGRESS" TOTALS IN THE "OTHER" CATEGORY OF $88,285,290. Schedule D, Part IX OTHER ASSETS PROVIDENT GROUP - HSC PROPERTIES INC. WAS UNDER CONSTRUCTION IN 2022 AND HAD "RESTRICTED ESCROWS" IN THE "OTHER ASSETS" CATEGORY OF $19,665,849. Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote The Company is a corporation, which is tax exempt for federal income tax purposes. U.S. GAAP prescribes recognition thresholds and measurement attributes for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. Tax benefits will be recognized only if the tax position is more-likely-than-not sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized will be the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the more-likely-than-not-test, no tax benefit will be recorded. Management has concluded that they are unaware of any tax benefits or liabilities to be recognized at December 31, 2022 and 2021. The Company is not subject to examination by U.S. federal taxing authorities or state taxing authorities prior to the period of incorporation on July 15, 2019. The Company does not expect the total amount of unrecognized tax benefits to significantly change in the next 12 months. false false false false false false false false false CHRISTOPHER HICKS Director/VICE PRESIDENT/Treasurer 0 348423 0 585000 0 956 0 12200 0 25907 0 972486 0 0 DONOVAN O HICKS DIRECTOR/VICE PRESIDENT/SECRETARY 0 323860 0 345000 0 44456 0 12200 0 25566 0 751081 0 0 STEVE HICKS PRESIDENT 0 547866 0 375000 0 23155 0 12200 0 13647 0 971868 0 0 Schedule J, Part I, Line 3 Arrangement used to establish the top management official's compensation PROVIDENT GROUP - HSC PROPERTIES, INC. DOES NOT PAY ANY EMPLOYEES. THEREFORE, this line was left blank in accordance with the instructions. The officers of the organization are compensated solely by the related organization, Provident Resources Group, Inc. The following is the process used by Provident Resources Group, Inc. to determine compensation. The human resources department does 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 performance evaluations, the analysis is presented to the Compensation Committee comprised of members of the governing board for their review, deliberation, and decision about where to set 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. A LOUISIANA PUBLIC FACILITIES AUTHORITY 720895871 546399KB1 2020-10-15 100867646 NEW INFRASTRUCTURE AND FACILITIES false false false A 0 0 101481526 5401409 8721347 0 1840487 0 0 72288423 4617810 8612050 false false false true A false false true true false 0.0 0.0 0.0 false false true A false false false true false false true See statement true false true A true Schedule K, Part II, Line 3 ALL LISTED BONDS ON SCHEDULE K IF THE TOTAL PROCEEDS OF THE ISSUE EXCEEDS THE ISSUE PRICE OF THE BOND, THE DIFFERENCE IS DUE TO INVESTMENT EARNINGS THROUGH YEAR PLACED IN SERVICE. INVESTMENT EARNINGS ARE INCLUDED IN THE TOTAL PROCEEDS OF THE ISSUE. Schedule K, Part III, Line 3a MANAGEMENT CONTRACTS THE TAXPAYER HAS ENTERED INTO MANAGEMENT OR SERVICE CONTRACTS THAT MAY RESULT IN PRIVATE USE WITH RESPECT TO THESE FACILITIES. THESE CONTRACTS HAVE BEEN REVIEWED BY BOND COUNSEL AND TAXPAYER'S COUNSEL FOR COMPLIANCE WITH REVENUE PROCEDURE 2017-13. Schedule K, Part IV, Line 2a REBATE NOT DUE YET THE NEXT SCHEDULED CALCULATION IS DUE 2027. Schedule K, Part IV, Line 2b EXCEPTION TO REBATE FOR ALL BONDS REPORTED ON SCHEDULE K, THE PROJECT AND COST OF ISSUANCE FUNDS WILL BE SPENT WITHIN THE TEMPORARY PERIODS; HOWEVER, AN ARBITRAGE REBATE LIABILITY CALCULATION IS STILL REQUIRED AND IS PERFORMED AS REQUIRED. THEREFORE, THE BONDS DO NOT QUALIFY FOR AN EXCEPTION TO REBATE. Schedule K, Part IV, Line 5b TERM OF GIC WITH NOMURA THERE WERE MULTIPLE GICS ISSUED WITH BOND PROCEEDS. CONSTRUCTION FUNDS WERE PLACED IN A GIC WITH NOMURA FOR A TERM OF 2 YEARS. THE CAPITALIZED INTEREST FUNDS AND OTHER RESERVE FUNDS WERE PLACED IN GICS WITH NOMURA FOR A TERM OF 2.5 YEARS. Schedule K, Part V PROCEDURES TO UNDERTAKE CORRECTIVE ACTION THE SOLE MEMBER OF PROVIDENT GROUP - HSC PROPERTIES INC. HAS ESTABLISHED A WRITTEN TAX-EXEMPT BOND COMPLIANCE POLICY WHOSE PURPOSE IS TO HELP FOSTER COMPLIANCE WITH RULES REGARDING RECORDKEEPING, INVESTMENTS AND ARBITRAGE OF BOND PROCEEDS, EXPENDITURE OF BOND PROCEEDS AND PRIVATE BUSINESS USE RELATED TO TAX-EXEMPT BONDS. THE ORGANIZATION REVIEWS THE USE OF THOSE PROCEEDS ON AN ON-GOING BASIS. THE ORGANIZATION WOULD ALERT THE ISSUER TO ANY IDENTIFIED VIOLATIONS OF FEDERAL TAX REQUIREMENTS RELATED TO THESE BONDS IN A TIMELY MANNER. THE ORGANIZATION WOULD COOPERATE WITH THE ISSUER AS NECESSARY TO COMPLY WITH THE VOLUNTARY CLOSING AGREEMENT PROGRAM IF SELF-REMEDIATION IS NOT AVAILABLE. THE ORGANIZATION IS NOT AWARE OF ANY VIOLATIONS OF FEDERAL TAX REQUIREMENTS RELATED TO ANY OUTSTANDING TAX-EXEMPT BONDS. Schedule K, Part IV, Line 2c COLUMN A Issuer name: LOUISIANA PUBLIC FACILITIES AUTHORITY The calculation for computing no rebate due was performed on 02/08/2022 Form 990, Part VI, Line 15 Provident Group - HSC Properties, Inc. does not pay any employees, therefore, this line was answered no in accordance with the instructions. The officers and directors of the organization are compensated solely by the related organization, Provident Resources Group, Inc. The following is the process used by Provident Resources Group, Inc. to determine compensation. 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 3 DELEGATION OF MANAGEMENT DUTIES The organization contracts with an unrelated third-party management company to oversee day to day operations. The management company does not act in their capacity to perform the functions typically done by officers or directors. The ultimate authority for decision making lies with the officers and directors of the organization and the sole member. See the narrative regarding Part VI, Line 6 in Schedule O for more information regarding the responsibilities of the HSC governing body as well as approvals required by the sole member, Provident Resources Group Inc. 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 6 Classes of members or stockholders Provident Resource Group, Inc. (PRG) is the sole member of Provident Group - HSC Properties, Inc. (HSC). PRG appoints the members of the HSC governing body and approves certain decisions made by the HSC Governing body. The following matters and transactions require the approval of PRG: 1. Modify or otherwise amend the Articles of incorporation or Bylaws of HSC. 2. Issuance of notes, bonds or other evidences of indebtedness in excess of $100,000 3. Approve any loans from HSC to any person or entity 4. Authorize or permit HSC to become a surety, guarantor or accommodation party to any obligation and will not pledge HSC's assets for any such obligation. 5. Sell, dispose of, or otherwise encumber all or substantially all of the assets of HSC. 6. Enter into any management, consulting, administrative services or other contract for the management and operation of a Project owned or operated by the Corporation, without having the President or CEO of the Member, and the Member's corporate counsel and tax counsel review and approve the contract for compliance with applicable laws. 7. Voluntary dissolution or liquidation of HSC or the consolidation merger of HSC with or into any other entity. 8. Voluntary institution of proceedings by HSC to be adjudicated bankrupt or insolvent, or consenting to the institution of bankruptcy or insolvency proceeding against HSC, or the filing of a petition seeing or consenting to reorganization of relief under any applicable federal or state law relating to bankruptcy, or consenting to the appointment of a receiver, liquidator, assignee, trustee, sequestrator (or other similar official) of HSC or a substantial part of property of HSC or making any assignment for the benefit of creditors, or admitting in writing its inability to pay its debts generally as they become due, or taking corporation action in furtherance of any such action. 9. Admit any additional member(s) to HSC or merge or consolidate HSC with any other person or entity (other than a disregarded entity for federal income tax purposes with respect to the Member) or enter into any partnership, joint venture or other similar enterprise with any other person or entity. Form 990, Part VI, Line 7a Members or stockholders electing members of governing body SEE NARRATIVE FOR PART VI, LINE 6. Form 990, Part VI, Line 7b Decisions requiring approval by members or stockholders SEE NARRATIVE FOR PART VI, LINE 6. 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 EACH VOTING MEMBER OF THE GOVERNING BODY BEFORE IT WAS FILED WITH THE IRS. Form 990, Part VI, Line 12c Conflict of interest policy Provident Resources Group Inc. (PRG) is the sole member of Provident Group - HSC Properties Inc. (HSC). All board members of the filing organization as well as PRG's senior management, board of directors, and board committees sign annual conflict of interest statements. All statements are collected and reviewed by Chief Compliance Officer of sole member PRG. 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 19 Required documents available to the public THE ORGANIZATION'S FINANCIAL STATEMENTS, CONFLICT OF INTEREST POLICY, AND GOVERNING DOCUMENTS ARE AVAILABLE UPON WRITTEN REQUEST. PROVIDENT RESOURCES GROUP INC 5565 BANKERS AVENUE BATON ROUGE LA 70808 582492101 CHARITABLE GA 501(c)(3) 10 NA false PROVIDENT OKLAHOMA EDUCATION RESOURCES INC 5565 BANKERS AVENUE BATON ROUGE LA 70808 814203730 SUPPORTING ORGANIZATION OK 501(c)(3) Type I PROVIDENT RESOURCES GROUP INC false PROVIDENT COMMONWEALTH EDUCATION RESOURCES INC 5565 BANKERS AVENUE BATON ROUGE LA 70808 811381404 SUPPORTING ORGANIZATION MA 501(c)(3) Type I PROVIDENT RESOURCES GROUP INC false PROVIDENT COMMONWEALTH EDUCATION RESOURCES II INC 5565 BANKER AVENUE BATON ROUGE LA 70808 831248921 SUPPORTING ORGANIZATION MA 501(c)(3) Type I PROVIDENT RESOURCES GROUP INC false PROVIDENT GROUP - BISON PROPERTIES INC 5565 BANKERS AVENUE BATON ROUGE LA 70808 831863389 SUPPORTING ORGANIZATOIN DC 501(c)(3) Type I PROVIDENT RESOURCES GROUP INC false PROVIDENT GROUP - TUBMAN QUAD PROPERTIES INC 5565 BANKERS AVENUE BATON ROUGE LA 70808 833519249 SUPPORTING ORGANIZATION DC 501(c)(3) Type I PROVIDENT RESOURCES GROUP INC false PROVIDENT GROUP - OLD MET PROPERTIES INC 5565 BANKERS AVENUE BATON ROUGE LA 70808 843243282 SUPPORTING ORGANIZATION MN 501(c)(3) Type I PROVIDENT RESOURCES GROUP INC false Georgia Protoncare Center inc 5565 BANKERS AVENUE BATON ROUGE LA 70808 820845208 Supporting Organization GA 501(c)(3) Type I Provident Resources Group Inc false Celina Regional Medical Center inc 5565 bankers avenue baton rouge LA 70808 871657577 supporting organization TX 501(c)(3) Type I provident resources group inc false alvin regional medical center inc 5565 bankers avenue baton rouge LA 70808 871967476 supporting organization TX 501(c)(3) Type I provident resources group inc false PROVIDENT GROUP - CANTON COVE PROPERTIES LLC 5565 BANKERS AVENUE BATON ROUGE LA 70808 462840618 ASSISTED LIVING FACILITY GA NA N/A false false PROVIDENT GROUP - CREEKSIDE PROPERTIES LLC 5565 BANKERS AVENUE BATON ROUGE LA 70808 462860608 ASSISTED LIVING FACILITY GA NA N/A false false MUNICIPAL CORRECTIONS FINANCE HOLDING LLC 5565 BANKERS AVENUE BATON ROUGE LA 70808 721509520 MANAGEMENT DE NA C Corporation false PROVIDENT CAPITAL ADVISORS LLC 5565 BANKERS AVENUE BATON ROUGE LA 70808 260615635 HEALTHCARE GA NA C Corporation false PDG HOLDINGS LLC 5565 BANKERS AVENUE BATON ROUGE LA 70808 463437171 SENIOR LIVING DE NA C Corporation false false false false false false false false false false false false false false true true true false false false