2023-11-08T16:11:39-06:00 2022-12-31 410746749 CLIFTONLARSONALLEN LLP 293 EISENHOWER PARKWAY 2ND FLOOR LIVINGSTON NJ 07039 990 2022-01-01 550799217 ISLES PROPERTIES INC ISLE 6093414700 10 WOOD STREET TRENTON NJ 08618 SEAN JACKSON CEO 6093414700 2023-11-08 1 SEAN JACKSON 999009999 0 TARA DEL GAVIO P02438051 9739949494 2023-11-08 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z SEAN JACKSON 10 WOOD STREET TRENTON NJ 08618 58292 0 X WWW.ISLES.ORG X 2002 NJ ISLES PROPERTIES IS THE HOLDING COMPANY FOR SEVERAL PROPERTIES THAT ARE USED FOR ISLES, INC.'S COMMUNITY REAL ESTATE DEVELOPMENT. 4 2 0 0 0 0 0 0 5400 5400 51196 0 59820 52892 116416 58292 0 0 0 0 14994 44048 0 0 0 208191 148887 223185 192935 -106769 -134643 2461336 2380619 3651849 3722341 -1190513 -1341722 AS A 100% WHOLLY OWNED SUBSIDIARY OF ISLES, INC., ISLES PROPERTIES WAS ORGANIZED TO OWN TITLE TO VARIOUS REAL ESTATE PROPERTIES FOR ISLES, INC.'S PROGRAM FOR COMMUNITY REAL ESTATE DEVELOPMENT. 0 0 192935 5400 HOLDING COMPANY FOR SEVERAL REAL ESTATE PROPERTIES THAT ARE USED FOR ISLES, INC'S TAX EXEMPT PURPOSE. 192935 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 4 2 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NJ X THE ORGANIZATION 6093414700 10 WOOD STREET TRENTON NJ 08618 JOHN HART SECRETARY 2.00 38.00 X X 0 111753 10231 ROLANDO TORRES TRUSTEE 0.50 0.50 X 0 0 0 WILLARD STANBACK TRUSTEE 0.50 0.50 X 0 0 0 SEAN JACKSON TRUSTEE 0.50 0.50 X X 0 134135 4284 MARTIN JOHNSON EX-OFFICIO 0.50 28.00 X 0 57619 9418 MICHAEL NORDQUIST MANAGING DIRECTOR 0.50 40.00 X 0 85570 2760 PETER ROSE MANAGING DIRECTOR 0.50 40.00 X 0 84359 10524 0 473436 37217 0 0 0 0 0 RENTAL INCOME 900099 5400 5400 5400 CHESTNUT MONMOUTH RENT 900099 52892 52892 52892 58292 5400 0 52892 35671 35671 1031 1031 3031 3031 4315 4315 6667 6667 22798 22798 3402 3402 26953 26953 4952 4952 84115 84115 192935 192935 0 0 25100 21298 3851637 1600190 2328362 2251447 107874 107874 2461336 2380619 926423 1028453 212404 198075 2513022 2495813 3651849 3722341 X -1190513 -1341722 -1190513 -1341722 2461336 2380619 X -134643 -16566 X X 0 1 X 1 1 1 3336033 1596865 1739168 28700 3325 25375 486904 486904 2251447 DUE TO RELATED PARTY(IES) 2490813 BUDINOT ESCROW ACCOUNT 5000 2495813 X PART X, LINE 2: THE INTERNAL REVENUE SERVICE HAS RECOGNIZED ISLES PROPERTIES, INC. AS TAX EXEMPT UNDER SECTION 501(C)(2) OF THE INTERNAL REVENUE CODE. THE ORGANIZATION FOLLOWS STANDARDS THAT PROVIDE CLARIFICATION ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN THE ORGANIZATION'S CONSOLIDATED FINANCIAL STATEMENTS. THE GUIDANCE PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE RECOGNITION AND MEASUREMENT OF A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN, AND ALSO PROVIDES GUIDANCE ON DE-RECOGNITION, CLASSIFICATION, INTEREST, AND PENALTIES, DISCLOSURE AND TRANSITION. THE ORGANIZATION'S POLICY IS TO RECOGNIZE INTEREST AND PENALTIES ON UNRECOGNIZED TAX BENEFITS IN INCOME TAX EXPENSE. NO INTEREST AND PENALTIES WERE RECORDED DURING THE YEARS ENDED 2022 AND 2021. AT DECEMBER 31, 2022 AND 2021, THERE ARE NO SIGNIFICANT INCOME TAX UNCERTAINTIES. FORM 990, PART VI, SECTION A, LINE 7A THE GOVERNING BOARD OF ISLES INC. ELECTS THE GOVERNING BOARD OF THE ORGANIZTION. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS PROVIDED TO THE BOARD FOR REVIEW AND APPROVAL BEFORE IT IS FILED. FORM 990, PART VI, SECTION B, LINE 12C EACH DIRECTOR, PRINCIPAL OFFICER AND MEMBER OF A COMMITTEE WITH BOARD DELEGATED POWERS SHALL ANNUALLY SIGN A STATEMENT WHICH AFFIRMS THAT SUCH PERSON: A.HAS RECEIVED A COPY OF THE CONFLICTS OF INTEREST POLICY, B.HAS READ AND UNDERSTANDS THE POLICY, C.HAS AGREED TO COMPLY WITH THE POLICY, AND D.UNDERSTANDS THAT ISLES, INC. AND SUBSIDIARIES ARE NON-PROFIT ORGANIZATIONS AND THAT IN ORDER TO MAINTAIN THEIR FEDERAL TAX EXEMPTION THEY MUST ENGAGE PRIMARILY IN ACTIVITIES WHICH ACCOMPLISH ONE OR MORE OF THEIR TAX-EXEMPT PURPOSES. FORM 990, PART VI, SECTION B, LINE 15 THE PROCESS FOR DETERMINING COMPENSATION INVOLVES AN ANNUAL REVIEW OF THE INDIVIDUAL'S PERFORMANCE AND COMPARISON OF PRESENT COMPENSATION TO MARKET DATA. FORM 990, PART VI, SECTION C, LINE 18 THE ORGANIZATION MAKES ITS FORM 1023 AND FORM 990 AVAILABLE FOR PUBLIC INSPECTION UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: BAD DEBT EXPENSE -16,566. FORM 990, PART XII, LINE 2C: THE OVERSIGHT PROCESS HAS NOT CHANGED FROM PRIOR YEAR. ISLES INC 10 WOOD STREET TRENTON NJ 08618 222350832 PROVIDES HOUSING, GARDENING, RECREATION, AND ENVIRONMENTAL EDUCATION NJ 501(C)(3) LINE 7 N/A 0 ISLES COMMUNITY FOUNDATION 10 WOOD STREET TRENTON NJ 08618 371420125 MANAGING INVESTMENT ACTIVITIES; SUPPORTING ORGANIZATION FOR ISLES, INC. NJ 501(C)(3) LINE 12D, III-O ISLES INC 0 ISLES E4 INC 10 WOOD STREET TRENTON NJ 08618 270375809 TRAIN INDIVIDUALS TO PERFORM WEATHERIZATION SERVICE TO LOW INCOME HOUSEHOLDS NJ 501(C)(3) LINE 11 ISLES INC 0 ISLES COMMUNITY ENTERPRISES 10 WOOD STREET TRENTON NJ 08618 262483265 PROVIDES EDUCATION, TRAINING, AND FINANCING TO DISTRESSED COMMUNITIES NJ 501(C)(3) LINE 11 ISLES INC 0 ISLES MILL 57 INC 10 WOOD STREET TRENTON NJ 08618 271568899 ACQUIRE, HOLD, & SELL REAL PROPERTY TO SUPPORT OTHER 501(C)(3) ENTITIES NJ 501(C)(3) LINE 12A, I ISLES INC 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 1 1 1 0 0 ISLES INC E 2490834 LOAN