2023-11-15T14:54:34+00:00 2022-12-31 350921680 CROWE LLP 9600 Brownsboro Road Suite 400 Louisville KY 402413902 990 2022-01-01 831863389 PROVIDENT GROUP BISON 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 X STEVE HICKS 5565 Bankers Ave Baton Rouge LA 70808 3232622 false X N/A X 2018 DC Provident Group - Bison Properties Inc. promotes and advances education through the acquiring, constructing, renovating, furnishing, equipping, financing, owning, operating, and maintaining a mixed-use facility on the campus of Howard University. 3 0 0 0 0 0 0 2168645 3136566 88351 7600 7705 2176245 3232622 0 0 218682 415204 0 0 4184622 6847469 4403304 7262673 -2227059 -4030051 40001343 267501075 46382701 308985444 -6381358 -41484369 Provident Group - Bison Properties Inc. promotes and advances education through the acquiring, financing, equipping, and furnishing of dormitory/residential units on the campus of Howard University. false false 7098354 3144271 Provident Group - Bison Properties Inc. promotes and advances education through the acquiring, financing, maintaining, and furnishing of education - related facilities and through the provision of various related programs, activities, and services. 7098354 true false false false false false false false false true false false true true false false 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 5 0 true 0 false false false false false false false false false false false false X 3 0 true false true false true true true true true false false true true true true true true false false false DC X Steve Hicks 2257663977 5565 BANKERS AVENUE Baton Rouge LA 70808 DONOVAN O HICKS Vice President/Secretary 1.0 39.0 X X 0 713316 37766 MARLA P SCANNICCHIO Vice President 1.0 39.0 X X 0 451706 46758 CHRISTOPHER HICKS Director 1.0 39.0 X 0 934379 38107 STEVE HICKS President 1.0 39.0 X 0 946021 25847 0 3045422 148478 0 false true false Provident Resources Group Inc 5565 BANKERS AVE Baton Rouge LA 70808 management services 164307 Corvias Management LLC 301 Metro Center Blvd Suite 204 Warwick RI 02886 management services 106028 PLANNED SECURITY SERVICES INC 150 SMITH ROAD PARSIPPANY NJ 07054 SECURITY SERVICES 102364 3 0 RENTAL REVENUE 531120 3038481 3038481 ANCILLARY REVENUE 900099 98085 98085 0 0 0 0 3136566 88351 88351 0 0 0 0 OTHER INCOME 900099 7705 7705 0 0 0 0 7705 3232622 3144271 0 88351 350228 350228 733 733 34552 34552 29691 29691 391079 226760 164319 2912 2912 22285 22285 15067 15067 0 0 34575 34575 34264 34264 11421 11421 307013 307013 16833 16833 2896126 2896126 2078599 2078599 229466 229466 BAD DEBT 250188 250188 CLEANING & TRASH 265590 265590 MAINT & REPAIRS 292051 292051 0 0 0 0 7262673 7098354 164319 0 238694 3293729 173077 2656440 0 0 0 0 33222 258840 229833732 7301055 25370494 222532677 0 0 14185856 38759389 40001343 267501075 2204142 8314306 13012 999790 32601624 294362738 0 0 540554 0 11023369 5308610 46382701 308985444 X -6381358 -41484369 -6381358 -41484369 40001343 267501075 X -4030051 -31072960 X true X false 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 191769623 6477159 185292464 3339666 528377 2811289 34724443 295519 34428924 222532677 RESTRICTED ESCROWS 38759389 38759389 RETAINAGE PAYABLE ACCRUED INTEREST 1800512 ACCRUED EXPENSES/OTHER LIABILITIES 2466112 ACCRUED AUDIT FEES 23081 ASSET MANAGEMENT FEES PAYABLE 1018905 Due to Affiliate 5308610 false false false false false false false false false DONOVAN O HICKS Vice President/Secretary 0 323860 0 345000 0 44456 0 12200 0 25566 0 751081 0 0 MARLA P SCANNICCHIO Vice President 0 272960 0 165000 0 13746 0 12200 0 34558 0 498464 0 0 CHRISTOPHER HICKS Director 0 348423 0 585000 0 956 0 12200 0 25907 0 972486 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 PROCESS FOR DETERMINING COMPENSATION Provident Group - Bison 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 District of Columbia 536001131 25483VB45 2022-12-20 298990259 Refunding and acquisition false false false A 298990259 15047658 5444246 476380 1501090 268021975 8498910 2022 true true false true A false false true true false 0.0 false false true A false true false false false false false false true A true 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 2b EXCEPTION TO REBATE FOR the BOND 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 BOND DOes NOT QUALIFY FOR AN EXCEPTION TO REBATE. Schedule K, Part V PROCEDURES TO UNDERTAKE CORRECTIVE ACTION The sole member of Provident Group - Bison 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 the bond 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 the outstanding tax-exempt bond. Schedule K, Part IV, Line 2a REBATE NOT DUE YET THE NEXT SCHEDULED CALCULATION IS DUE 2027. Schedule K, Part I Bonds on Schedule K ON DECEMBER 20, 2022, THERE WAS A REFUNDING OF PROVIDENT GROUP - Bison Properties INC.'S SERIES 2020 BONDS AND PROVIDENT GROUP - TUBMAN QUAD PROPERTIES, INC.'S SERIES 2020 BONDS BY ISSUING SERIES 2022 BONDS. A PORTION OF THE BOND PROCEEDS WERE ALSO USED TO PAY ACCRUED INTEREST ON THE SERIES 2020 BONDS. THE REMAINING PORTION OF THE BOND PROCEEDS WERE USED TO AQUIRE ADDITIONAL STUDENT HOUSING, AS WELL AS PAY FINANCING COSTS TO COMPLETE THE TRANSACTION. Form 990, Part VI, Line 15 Provident Group - Bison 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 Bison 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 4 Significant changes to organizational documents The organization's bylaws were amended to show the change in the organization's legal name from PROVIDENT GROUP - Howard Center INC. to PROVIDENT GROUP - BISON PROPERTIES INC. Form 990, Part VI, Line 6 Classes of members or stockholders Provident Resource Group, Inc. (PRG) is the sole member of Provident Group - Bison Properties, Inc (Bison). PRG appoints the members of the Bison governing body and approves certain decisions made by the Bison Properties, Inc. Governing body. The following matters and transactions require the approval of PRG: 1. Modify or otherwise amend the Articles of incorporation or Bylaws of Bison. 2. Issuance of notes, bonds or other evidences of indebtedness in excess of $100,000 3. Approve any loans from Bison to any person or entity 4. Authorize or permit Bison to become a surety, guarantor or accommodation party to any obligation and will not pledge Bison's assets for any such obligation. 5. Sell, dispose of, or otherwise encumber all or substantially all of the assets of Bison. 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 Bison or the consolidation merger of Bison with or into any other entity. 8. Voluntary institution of proceedings by Bison to be adjudicated bankrupt or insolvent, or consenting to the institution of bankruptcy or insolvency proceeding against Bison, 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 Bison or a substantial part of property of Bison 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 Bison or merge or consolidate Bison 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 - Bison Properties, Inc. (Bison). 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. Form 990, Part XI, Line 9 Other changes in net assets or fund balances MERGED NET ASSETS WITH RELATED ENTITY AND tax exempt BONDS were MERGED - -31072960; 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 AVENU BATON ROUGE LA 70808 814203730 SUPPORTING ORGANIZATION OK 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 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 BANKERS AVENUE BATON ROUGE LA 70808 831248921 SUPPORTING ORGANIZATION MA 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 Provident Group - HSC Properties Inc 5565 BANKERS AVENUE BATON ROUGE LA 70808 842443503 SUPPORTING ORGANIZATION LA 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 true