2024-04-10T10:52:30-07:00 2023-05-31 990 2022-06-01 475234687 JONAS REALTY CORP JONA 5087937297 950 Main Street Worcester MA 01610 Danielle Manning Executive Vice President and Treas 5087937455 2024-04-10 Danielle Manning 999009999 1 1 11 1 AAL2 X 2022 2023-04-26 12:10:37Z Danielle Manning 950 Main Street Worcester MA 01610 186388 0 X X 2015 MA Jonas Realty Corporation was established as a 501 (c)(3) functionally integrated supporting organization of Clark University to hold and manage the land and building of the Shaich Family Alumni and Student Engagement Center. During fiscal year 2023, the assets, debt and related operating activities of JRC were transferred to the University and/or settled. X 3 1 0 0 0 0 0 0 0 0 0 0 372776 186388 372776 186388 0 0 0 0 0 0 0 0 0 710040 372187 710040 372187 -337264 -185799 21730708 0 9733271 0 11997437 0 Jonas Realty Corporation was established as a 501 (c)(3) functionally integrated supporting organization of Clark University to hold and manage the land and building of the Shaich Family Alumni and Student Engagement Center. During fiscal year 2023, the assets, debt and related operating activities of JRC were transferred to the Trustees of Clark University and/or settled. 0 0 0 0 0 No Program Service Expenses. 0 0 0 No Program Service Expenses. 0 0 0 No Program Service Expenses. 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 1 0 0 0 1 0 1 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 X 3 1 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 MA X Danielle Manning 5087937455 950 Main Street Worcester MA 01610 Danielle Manning President/Treasurer 0.5 40 X X 0 378139 44779 David Chearo Vice President 0.25 40 X X 0 251218 57176 Gregory Degermajian Clerk 0.25 0 X X 0 0 0 0 629357 101955 0 0 1 0 0 0 0 186388 0 0 0 186388 0 186388 186388 0 0 0 0 0 186388 186388 0 0 23167 23167 24195 24195 36212 36212 283201 283201 5412 5412 372187 0 372187 0 227748 0 1131355 0 0 0 20371605 0 21730708 0 51146 0 9682087 0 38 9733271 0 X 11997437 0 0 0 11997437 0 21730708 0 X -185799 0 0 0 0 -11811638 X 0 1 X 1 0 X X X 1 Clark University 042111203 2 1 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 X 1 1 Schedule A, Part IV, Section D, Line 3 Jonas Realty Corp was created in connection with a New Market Tax Credit transaction. The nature of this transaction consisted of Jonas owning a newly constructed building that was leased to the Trustees of Clark University as the sole tenant. Jonas' assets were related to the New Market Tax Credit and Jonas' income for the year consisted of rental payments from Clark. During fiscal year 2023, the assets, debt and related operating activities of JRC were transferred to the Trustees of Clark University and/or settled. Schedule A, Part IV, Section E, Line 2a Jonas Realty Corporation's only activity was to finish construction of a building. The building was completed in 2016 and since then has been leased to the Trustees of Clark University. Schedule A, Part IV, Section E, Line 2b Clark University would have completed the construction of the building for its sole purpose if Jonas Realty Corporation did not exist. 0 0 0 0 0 0 0 0 0 Danielle Manning President/Treasurer 0 343969 0 34170 0 0 0 30500 0 14279 0 422918 0 0 David Chearo Vice President 0 228268 0 22950 0 0 0 24234 0 32942 0 308394 0 0 Danielle Manning Officer of Jonas Realty Corp; Officer of Trustees of Clark University 231500 Jonas Realty transferred all of the remaining cash to the Trustees of Clark University as part of the New Market Tax Credit unwind 0 David Chearo Officer of Jonas Realty Corp; Officer of Trustees of Clark University 231500 Jonas Realty transferred all of the remaining cash to the Trustees of Clark University as part of the New Market Tax Credit unwind 0 Danielle Manning Officer of Jonas Realty Corp; Officer of Trustees of Clark University 20106317 Jonas Realty transferred all of it's remaining fixed assets to the Trustees of Clark University as part of the New Market Tax Credit unwind 0 David Chearo Officer of Jonas Realty Corp; Officer of Trustees of Clark University 20106317 Jonas Realty transferred all of it's remaining fixed assets to the Trustees of Clark University as part of the New Market Tax Credit unwind 0 Danielle Manning Officer of Jonas Realty Corp; Officer of Trustees of Clark University 1029821 A receivable that was satisfied as part of the New Market Tax Credit unwind 0 David Chearo Officer of Jonas Realty Corp; Officer of Trustees of Clark University 1029821 A receivable that was satisfied as part of the New Market Tax Credit unwind 0 Danielle Manning Officer of Jonas Realty Corp; Officer of Trustees of Clark University -9556000 Loans were extinguished as part of the New Market Tax Credit unwind 0 David Chearo Officer of Jonas Realty Corp; Officer of Trustees of Clark University -9556000 Loans were extinguished as part of the New Market Tax Credit unwind 0 Jonas Realty transferred all of the remaining cash to the Trustees of Clark University as part of the New Market Tax Credit unwind 2022-11-30 231500 Cash based on actual value 042111203 The Trustees of Clark University 950 Main Street Worcester MA 01610 501 (c)(3) Jonas Realty transferred all of it's remaining fixed assets to the Trustees of Clark University as part of the New Market Tax Credit unwind 2022-11-30 20106317 FMV value was determined by transferring the assets at cost less depreciation. 042111203 The Trustees of Clark University 950 Main Street Worcester MA 01610 501 (c)(3) A receivable that was satisfied as part of the New Market Tax Credit unwind 2022-11-30 1029821 FMV was based on the negotiated fee for annual rent and the ground lease fee set forth in the contract between the related parties. 042111203 Trustees of Clark University 950 Main Street Worcester MA 01610 501 (c)(3) Loans were extinguished as part of the New Market Tax Credit unwind 2022-11-30 -9556000 FMV was determined by the cash value of the loans at the time of the transfer. 042111203 Clark University 950 Main Street Worcester MA 01610 501 (c)(3) 0 0 0 0 Form 990, Part I, Line 1 Jonas Realty Corporation is a 501(c)(3) as a functionally integrated supporting organization of Clark University to hold and manage the land and building of the SHAICH-Family Alumni and Student Engagement Center. During fiscal year 2023, the assets, debt and related operating activities of JRC were transferred to the Trustees of Clark University and/or settled. Form 990, Part VI, Section B, Line 11b Jonas Realty Corp is a Type III functionally integrated supporting organization of Clark University. Clark's Board of Trustees Audit Committee reviews Jonas' Form 990 responses. In addition, a draft of the Form 990 is posted on the Clark Board of Trustees web page and each member is notified of the opportunity to review before submission. Form 990, Part VI, Section B, Line 12c Each Director is required to complete annually a conflict of interest disclosure form. Director's disclosures are reviewed by the Secretary of the Corporation and the Executive Vice President, who is also the Treasurer of the Board of Trustees of Clark University. If a potential conflict arises, the Chair of the Audit and Strategic Risk Committee will meet with the members of the Audit and Strategic Risk Committee to review the potential conflict, and in consultation with Clark's Board Chair, make a determination on what, if any, action is necessary. Form 990, Part VI, Section C, Line 19 Jonas Realty Corp's governing documents including the Articles of Organization are available through the Massachusetts Secretary of State's office. The financial statements are available through Guidestar and the Clark University website. The conflict of interest policy is available upon request. Form 990, Part XI, Line 9 Jonas Realty Corp. transferred all of their assets to the Trustees of Clark University, a related party, during the fiscal year. Jonas Realty Corp. will remain a corporation, however, no activity is anticipated in the near future. Trustees of Clark University 950 Main Street Worcester MA 01610 042111203 higher education MA 501(c)(3) school N/A 0 0 0 0 0 1 0 0 0 1 1 0 0 1 0 0 0 0 0 0 Trustees of Clark University i 11997437 Jonas Realty transferred all of their assets to the Trustees of Clark University consisting mostly of cash and property. Cash transferred at face value and property transferred at net value (cost less depreciation) Detailed transactions are listed on Schedule N. Trustees of Clark University k 186388 FMV