2025-11-17T14:17:09+00:00 2024-12-31 350921680 CROWE LLP 4801 Olympia Park Plaza Suite 4000 Louisville KY 402412098 990 2024-01-01 582492101 Provident Resources Group Inc PROV 2257663977 5565 Bankers Avenue Baton Rouge LA 70808 Steve Hicks Chairman & CEO 2025-11-17 true true Rachel Spurlock P00520729 5023263996 2025-11-17 2024 2025-03-06 01:10:19Z Provident Group Steve Hicks 5565 Bankers Avenue Baton Rouge LA 70808 356142236 false X www.provident.org X 1999 GA Provident Resources Group, Inc. provides for the needs of the elderly, promotes healthy communities, serves the poor & distressed, promotes education, and lessens the burden of government. 7 5 132 0 164908 113821 13558462 23225688 254253277 263976127 7561768 10078539 46232922 58861882 321606429 356142236 31883 0 0 0 55033254 48211675 0 0 0 299446832 351057440 354511969 399269115 -32905540 -43126879 2982926984 4079893848 3421663951 4561544749 -438736967 -481650901 The stated charitable purpose of the organization shall include, without limitation, a broad range of activities, programs, and services that: - provide for and serve the needs of the elderly, which may be accomplished by the development, construction, acquisition, ownership, (Continued in Schedule O) false false 229555683 204598070 THE EDUCATION RESOURCES DIVISION PROMOTES AND ADVANCES EDUCATION THROUGH THE DEVELOPMENT, CONSTRUCTION, OPERATION, FINANCING AND MANAGEMENT OF FACILITIES OF VARIOUS TYPES, INCLUDING STUDENT HOUSING, HEALTH AND WELLNESS, AS WELL AS ACADEMIC AND ADMINISTRATIVE SPACE FOR THE BENEFIT OF COLLEGES AND UNIVERSITIES THROUGHOUT THE COUNTRY. THE ORGANIZATION OWNED AND OPERATED RESIDENTIAL FACILITIES PROVIDING MORE THAN 19,800 BEDS OF SAFE, convenient AND AFFORDABLE STUDENT HOUSING FOR STUDENTS, FACULTY AND STAFF OF THE INSTITUTIONS WE SERVE. 93085958 77697637 THE SENIOR LIVING RESOURCES DIVISION OFFERS ACTIVITIES, SERVICES AND PROGRAMS DESIGNED TO MEET THE SPECIAL NEEDS OF THE ELDERLY, INCLUDING HOUSING AND HEALTH CARE, WITHIN AN ENVIRONMENT THAT PROMOTES THE DIGNITY AND INDEPENDENCE OF THE RESIDENTS. OUR FACILITIES OFFER THE FINEST AMENITIES ALONG WITH WELLNESS PROGRAMMING, DAILY SOCIAL ACTIVITIES, 24/7 SUPPORT AND CARE, AND EDUCATIONAL OPPORTUNITIES TO ENSURE RESIDENTS ENJOY OPTIMAL QUALITY OF LIFE AND PEACE OF MIND. 66870299 40377394 The Government Resources Division pursues projects designed to lessen the burdens of government. We are committed to easing the financial and budgetary constraints of state and local governments through various means, including the development, financing, construction, management, and operation of public facilities, government buildings, and various systems of public infrastructure essential to delivering government services and supporting private sector economic activity. 389511940 true 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 true false false false false false true true true true false false true 332 0 true 132 true true true false false false false false false false false false true false X 7 5 true false false false false false false true true false false false true true true true true true true true true true X STEVE HICKS 2257663977 5565 BANKERS AVENUE Baton Rouge LA 70808 CHRISTOPHER HICKS PRESIDENT 35.0 5.0 X X 859241 0 50541 STEVE HICKS CHAIRMAN AND CHIEF EXECUTIVE OFFICER 34.0 6.0 X X 1082919 0 28552 NANCY H HENZE DIRECTOR 1.0 2.0 X 24000 0 0 Samantha Costanzo DIRECTOR (BEG 10/01/2024) 1.0 0.0 X 6000 0 0 THOMAS E GREENE III DIRECTOR 1.0 0.0 X 24000 0 0 THOMAS H GREEN III DIRECTOR 1.0 0.0 X 24000 0 0 WALTER BUMPHUS PH D DIRECTOR 1.0 2.0 X 24000 0 0 DAVID GRAND JR CHIEF OPERATING OFFICER 40.0 0.0 X 492707 0 39004 DONOVAN O HICKS CHIEF LEGAL OFFICER 34.0 6.0 X 604426 0 40258 JAMEY CORKERN AVP ADMINISTRATION 40.0 0.0 X 212962 0 43649 MARLA P SCANNICCHIO CHIEF FINANCIAL OFFICER 38.0 2.0 X 551611 0 51552 PAMELA FORESTIER CHIEF ACCOUNTING OFFICER 40.0 0.0 X 444821 0 33439 RHEBA W ROBERTSON ASSISTANT SECRETARY 23.0 1.0 X 57158 0 0 Alan Addison ACCOUNTING MANAGER 40.0 0.0 X 124644 0 18857 Genevieve Warren Accounting Manager 40.0 0.0 X 114571 0 16871 JAIMEE BOYD GENERAL COUNSEL 40.0 0.0 X 275842 0 39914 Phuong Nguyen CONTROLLER 40.0 0.0 X 242280 0 22221 Todd Holder Senior VP Business Development 40.0 0.0 X 347731 0 11387 5512913 0 396245 15 false true false ABM Industry Groups LLC 2401 Ronald Regan Washington National Airport Access Rd Arlington VA 22202 Building Maintenance/Facility Services 1770728 AHVTX II LLC 150 Paularino Avenue D250 Costa Mesa CA 92626 Management Company 1228540 Corvias Management LLC 301 Metro Center Blvd Suite 204 Warwick RI 02886 Management Company 1059342 Cardinal Group Management & Advisory LLC 4100 E Mississippi Avenue Suite 70 Denver CO 80246 Management Company 1044264 Capstone on Campus Management LLC 1500 Urban Center Drive Suite 400 BIRMINGHAM AL 35242 Management Company 978704 53 23225688 23225688 RENTAL REVENUE 532000 219979210 219979210 REVENUE FROM SALES-TYPE LEASE 623990 27090078 27090078 RESIDENT SERVICE REVENUE 900099 8907207 8907207 WELLNESS PROGRAM REVENUES 713940 5401335 5236427 164908 MANAGEMENT RELATED REVENUE 900099 1953779 1953779 644518 644518 0 0 263976127 10078539 10078539 0 0 0 0 Interest Income Accretion 900099 26960199 26960199 parking income 900099 4786226 4786226 hospitality food and beverages 900099 12564300 12564300 14551157 14551157 0 0 58861882 356142236 322673101 164908 10078539 4685840 0 4685840 0 35770920 33267981 2502939 2404811 2269386 135425 2531865 2247938 283927 2818239 2516136 302103 16340586 16340586 1563458 1502626 60832 1280266 1280266 3150177 2969475 180702 0 9714332 9709245 5087 5272316 5202724 69592 3771904 3347082 424822 51977953 51901829 76124 590095 501221 88874 426530 426530 145320746 145183684 137062 62967736 62811900 155836 7952786 7926066 26720 Repairs and Maintenance 19163513 18760578 402935 DIETARY 10563738 10563738 Bad Debt Expense 4496831 4496831 issuer/trustee/LOC remarketing 691213 691213 5813260 5594905 218355 0 399269115 389511940 9757175 0 36404489 46994398 10457111 11535273 0 0 0 0 8023933 9358493 2577461676 485350279 1426231891 2092111397 0 0 1501809560 1919894287 2982926984 4079893848 126114504 151890325 3091140000 4112039973 0 0 77330785 98084336 127078662 199530115 3421663951 4561544749 X -438736967 -481650901 -438736967 -481650901 2982926984 4079893848 X -43126879 212945 X true X false X true false X 1790293 683333 1537500 13558462 23225688 40795276 155858678 184994712 242868449 254096520 263811219 1101629578 0 0 0 157648971 185678045 244405949 267654982 287036907 1142424854 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1142424854 2069700 674563 2089596 7561768 10078539 22474166 43297 72403 78191 89040 113821 396752 2112997 746966 2167787 7650808 10192360 22870918 0 21785854 21803351 31431873 46232922 58861882 180115882 181547822 208228362 278005609 321538712 356091149 1345411654 0.84913 0.86711 0.02 0.01 X Schedule A, Part III, Line 12 Other Income DESCRIPTION - OTHER INCOME, COLUMN A - 21785854.0, COLUMN B - 21803351.0, COLUMN C - 31431873.0, COLUMN D - 46232922.0, COLUMN E - 58861882.0, COLUMN F - XXX-XX-XXXX.0; RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 60061533 60061533 1810884372 456480735 1354403637 1860238 468922 1391316 112666841 28400622 84266219 591988692 591988692 2092111397 RESTRICTED ESCROW 866537412 NET INVESTMENT IN SALES TYPE LEASE 675261436 TENANT SECURITY AND OTHER DEPOSITS 1070653 ACCRUED INTEREST RECEIVABLE 2591648 CONCESSION AGREEMENT 124221629 DUE FROM AFFILIATES 5201565 GOODWILL 31844000 RIGHT OF USE ASSET 213083419 INVESTMENT IN SUBSIDIARY 82525 1919894287 Federal Income Taxes ACCRUED INTEREST 132777856 TENANT SECURITY DEPOSITS 830482 LEASE LIABILITIES 65921777 199530115 Schedule D, Part VI, Line 1e Other THE FOLLOWING consolidated Entities were PARTIALLY UNDER CONSTRUCTION IN 2024 AND HAD "CONSTRUCTION IN PROGRESS" TOTALS IN THE "OTHER" CATEGORY: PROVIDENT GROUP - SCCIL PROPERTIES- $42,347,362 PROVIDENT GROUP - Port Wonder - $27,882,021 PROVIDENT GROUP - Brooks Properties - $50,812,058 PROVIDENT GROUP - LU II - $29,714,471 PROVIDENT GROUP - HFH - $92,677,524 PROVIDENT GROUP - WILLIAMSBURG PROPERTIES - $154,935,035 PROVIDENT GROUP - UTK - $178,139,237 Schedule D, Part IX Other Assets THE FOLLOWING consolidated entities were partially OR FULLY UNDER CONSTRUCTION IN 2024 AND HAD "RESTRICTED ESCROW" TOTALS IN THE "OTHER ASSETS" CATEGORY: PROVIDENT GROUP - SCCIL PROPERTIES- $47,580,433 PROVIDENT GROUP - Brooks Properties - $28,474,783 PROVIDENT GROUP - LU II - $32,644,722 PROVIDENT GROUP - HFH - $183,982,754 PROVIDENT GROUP - WILLIAMSBURG PROPERTIES - $96,558,500 PROVIDENT GROUP - UTK - $221,628,657 X true true X X X X false false false false false false false true false STEVE HICKS CHAIRMAN AND CHIEF EXECUTIVE OFFICER 547440 0 470021 0 65458 0 13200 0 15352 0 1111471 0 0 0 CHRISTOPHER HICKS PRESIDENT 348260 0 510000 0 981 0 13200 0 37341 0 909782 0 0 0 DONOVAN O HICKS CHIEF LEGAL OFFICER 348055 0 210000 0 46371 0 13200 0 27058 0 644684 0 0 0 MARLA P SCANNICCHIO CHIEF FINANCIAL OFFICER 311966 0 210000 0 29645 0 13200 0 38352 0 603163 0 0 0 DAVID GRAND JR CHIEF OPERATING OFFICER 286269 0 173250 0 33188 0 13200 0 25804 0 531711 0 0 0 PAMELA FORESTIER CHIEF ACCOUNTING OFFICER 262152 0 157500 0 25169 0 13200 0 20239 0 478260 0 0 0 JAMEY CORKERN AVP ADMINISTRATION 141363 0 60500 0 11099 0 8490 0 35159 0 256611 0 0 0 JAIMEE BOYD GENERAL COUNSEL 194812 0 80000 0 1030 0 10346 0 29568 0 315756 0 0 0 Todd Holder Senior VP Business Development 245783 0 100000 0 1948 0 3098 0 8289 0 359118 0 0 0 Phuong Nguyen CONTROLLER 171247 0 60500 0 10533 0 8211 0 14010 0 264501 0 0 0 Schedule J, Part I, Line 1a First-class or charter travel The board of directors have authorized the Chairman/CEO and President to purchase first class airfare based on their judgment and in their discretion, after reviewing and comparing costs for the first class airfare with business and main cabin airfare, and taking into consideration the time and distance of the flight. Schedule J, Part I, Line 7 Non-fixed payments During the year, the organization/Company paid one-time bonuses to certain employees in recognition of their performance. The bonuses were awarded based on criteria established and reviewed by the independent compensation committee, which is comprised of independent board members of the organization and not based on any individuals discretion. Schedule J, Part II, Column (B)(iii) OTHER REPORTABLE COMPENSATION PROVIDENT RESOURCES GROUP INC.'S PAID TIME OFF POLICY REQUIRES Provident TO PAYout ACCRUED PTO OVER A SPECIFIC LIMIT (WHICH IS DETERMINED ANNUALLY), for all employees. A LA Local Gov environ facilities & community development authority 721416168 546279UQ1 2004-12-15 14610000 (NSU) new infrastructure & facilities false false false B LA Local Gov environ facilities & community development authority 721416168 2007-01-10 3500000 (PCP) new office building false false false C NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY 222045817 2010-06-11 23600000 (Montclair) NEW INFRASTRUCTURE & FACILITIES false false false D LA Local Gov environ facilities & community development authority 721416168 546279UQ1 2007-08-09 17570000 (NSU) new infrastructure & facilities false false false A 6225000 0 14829638 904109 778433 0 255385 159156 0 12732555 0 0 2005 false false true true B 3066958 0 3587087 0 146486 0 70000 0 0 3370601 0 0 2008 false false true true C 8264408 0 23600000 0 0 0 0 0 0 23600000 0 0 2011 false false true true D 5790000 0 18287549 1515452 1319733 0 207326 134697 0 15051999 58342 0 2008 false false true true A false false true true false false 0.0 0.0 0.0 false false 0 false true B false false false false false false 0.0 0.0 0.0 false false 0 false true C false false true true false false 0.0 0.0 0.0 false false 0 false true D false false true true false false 0.0 0.0 0.0 false false 0 false true A false false false true false true Regions Financial 7.0 false false false Morgan Stanley 4.0 false false true B false false false true true true CAPITAL ONE 10.0 false true false 0 false false true C false false true false false false 0 false false false 0 false false true D false false false true false true Regions Financial 7.0 false false false 0 false false true A true B true C true D true Schedule K, Part IV, Line 4c Term of Hedge For all bonds reported on Schedule K, the term of the hedge reported is the original term of the hedge. Schedule K, Part III, Line 3a Management Contracts THE TAXPAYER HAS ENTERED INTO MANAGEMENT AGREEMENTS WITH RESPECT TO CERTAIN OF THE PROJECTS DESCRIBED IN SCHEDULE K. THESE CONTRACTS HAVE BEEN REVIEWED BY BOND COUNSEL AND TAXPAYER'S COUNSEL TO ENSURE COMPLIANCE WITH REVENUE PROCEDURE 97-13, 2016-6 AND 2017-13, IF APPLICABLE. Schedule K, Part V Procedures to Undertake corrective action The Organization 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. As of yearend, the Organization is not aware of any violations of federal tax requirements related to any outstanding tax-exempt bonds. Schedule K, Part IV, Line 2b Exception to Rebate For all bonds reported on Schedule K, the project and cost of issuance funds were spent within the temporary periods; however, an arbitrage rebate liability calculation is still required and performed as required. Therefore, the bonds do not qualify for an exception to rebate. Schedule K, Part IV, Line 5c TERM OF GIC FOR ALL BONDS REPORTED ON SCHEDULE K, THE TERM OF THE GIC REPORTED IS COMPUTED FROM THE DATE OF ISSUE OF THE BONDS TO THE DATE OF TERMINATION OF THE GIC. Schedule K, Part III, Line 5 PRIVATE BUSINESS USE FOR WEST VIRGINIA ECONOMIC DEVELOPMENT AUTHORITY $80,266,039 ISSUE: FOR BONDS ISSUED BY WEST VIRGINIA ECONOMIC DEVELOPMENT AUTHORITY APPROXIMATELY $113,821 OF TAXABLE UNRELATED BUSINESS INCOME WAS IDENTIFIED FOR THE CALENDAR YEAR ENDING 12.31.2024. TOTAL REVENUES FOR THIS PROJECT WERE $11,369,000 FOR THE CALENDAR YEAR ENDING 12.31.2024 RESULTING IN PRIVATE BUSINESS USE AS A RESULT OF UNRELATED BUSINESS ACTIVITY CARRIED OF LESS THAN 1%. Schedule K, Part IV, Line 3 Variable Rate Issue versus Fixed Rate Issue For LA Local Government Environmental Facilities and Community Development Authority (January 2007) 3,500,000 (PCP) SCHEDULE K - BOND ISSUANCE FOR LA FACILITIES FOR BUILDING OFFICE BUILDING - THIS ISSUANCE HAD 3 SERIES 2007A 2,635,000 VARIABLE RATE 2007B 465,000 FIXED RATE 2007C 400,000 FIXED RATE Schedule K, Part II, Line 3 ALL LISTED BONDS ON SCHEDULE K IF THE TOTAL PROCEEDS OF THE ISSUE EXCEEDS THE ISSUE PRICE OF EACH RESPECTIVE BOND, THE DIFFERENCE IS DUE TO INVESTMENT EARNINGS THROUGH YEAR PLACED IN SERVICE. INVESTMENT EARNINGS ARE INCLUDED IN THE TOTAL PROCEEDS OF EACH ISSUE. Schedule K, Part II, Line 11 NEW JERSEY ECONOMIC DEVELOPMENT - $199,932,376 (Montclair) OTHER SPENT PROCEEDS OF $186,375,000 WAS USED TO PAY A PARTIAL REFUNDING OF SERIES 2010 BONDS. THE REMAINING $7,780,582 WAS USED TO PAY ACCRUED INTEREST FROM SERIES 2010 BONDS. Schedule K, Part II, Line 11 ARIZONA DEVELOPMENT AUTHORY - $66,054,683 (EMU) OTHER SPENT PROCEEDS OF $59,320,000 WAS USED TO PURCHASE A 2018 BAN THAT WAS USED TO AQUIRE THE PARKING SYSTEM. THE REMAINING $1,133,671 WAS USED TO PAY ACCRUED INTEREST FROM SERIES 2018 BAN. Schedule K, Part II, Line 11 Arizona Industrial Development Authority - $111,095,831 (BALLSTON) Other spent proceeds of $94,175,863 was used for the acquisition of concession interest. Schedule K, Part II, Line 11 ARIZONA INDUSTRIAL DEVELOPMENT AUTHORITY - $27,923,100 (HARLINGEN) other spent proceeds of $2,327,374 was used for the purchase of land. Schedule K, Part II, Line 11 ARIZONA INDUSTRIAL DEVELOPMENT AUTHORITY - $31,835,000 (great lakes) other spent proceeds of $26,635,000 were used to refund prior tax-exempt bonds. Schedule K, Part II, Line 11 ARIZONA INDUSTRIAL DEVELOPMENT AUTHORITY - $371,924,669 (GLSL) OTHER SPENT PROCEEDS OF $359,686,246 WERE used for the acquisition of senior living communities. Schedule K, Part II, Line 11 CAPITAL PROJECTS FINANCE AUTHORITY - $68,722,361 (continuum) OTHER SPENT PROCEEDS OF $61,828,068 WERE used to extinguish prior notes payable. Schedule K, Part II, Line 11 Arizona Industrial Development Authority - $214,419,526 (Falcon) OTHER SPENT PROCEEDS OF $4,749,249 WERE MADE UP OF PRE-OPENING EXPENSE ACCOUNT OF $3,886,236 AND A CAPITALIZED GROUND LEASE FUND OF $63,013. Schedule K, Part II, Line 11 Economic Dev. Auth. City of Williamsburg $221,482,761 (Williamsburg-A) OTHER SPENT PROCEEDS OF $7,838,627 WERE USED FOR AN UPFRONT GROUND LEASE PAYMENT. Schedule K, Part II, Line 11 WEST VIRGINIA ECONOMIC DEVELOPMENT AUTHORITY - $80,266,039 (marshall) OTHER SPENT PROCEEDS OF $78,451,684 WAS USED for the refunding of the 2010 bonds. Schedule K, Part II, Line 11 CALIFORNIA ENTERPRISE DEVELOPMENT AUTHORITY - $42,027,833 (Pomona) OTHER SPENT PROCEEDS OF $41,171,557 WAS USED TO REFUND BOND SERIES 2021A AND 2022B REFUNDING OF SERIES 2013 BONDS. Schedule K, Part II, Line 11 ECONOMIC DEV. AUTHORITY OF THE CITY OF RADFORD $22,879,217 (Radford) OTHER SPENT PROCEEDS OF $22,437,282 WAS USED TO REFUND BOND SERIES 2021A AND 2022B. Schedule K, Part II, Line 11 WASHINGTON STATE HOUSING FINANCE COMMISSION - $191,396,583 (SH I) OTHER SPENT PROCEEDS OF $161,000,000 WAS USED TO FOR THE AQUISITION OF GROUND LEASES. Schedule K, Part II, Line 11 MARYLAND ECONOMIC DEVELOPMENT CORPORATION - $27,651,664 (Towson-A) OTHER SPENT PROCEEDS OF $24,164,751 WAS USED TO REFUND SERIES 2017A. Schedule K, Part II, Line 11 LOUISIANA PUBLIC FACILITIES AUTHORITY $251,518,866 (LSU-NG) OTHER SPENT PROCEEDS OF $1,928,157 WAS USED TO PAY INTEREST. Schedule K, Part II, Line 11 LA LOCAL GOV ENVIRON FACILITIES & COMM. DEV. AUTH. $17,570,000 (NSU) OTHER SPENT PROCEEDS OF $58,342 WAS USED TO PAY INTEREST. Schedule K, Part II, Line 11 LOUISIANA PUBLIC FACILITIES AUTHORITY $92,417,529 (Flagship-GH#3) OTHER SPENT PROCEEDS OF $1,067,079 was used to pay interest. Schedule K, Part II, Line 11 MARYLAND ECONOMIC DEVELOPMENT CORPORATION $8,890,000 (TOWSON-B ) OTHER SPENT PROCEEDS OF $8,890,000 WAS USED to refinance prior TAX-EXEMPT BONDS. Schedule K, Part II, Line 11 CAPITAL PROJECTS FINANCE AUTHORITY $130,442,299 (union West) OTHER SPENT PROCEEDS OF $121,349,844 WAS USED for the acquisition of student housing. Schedule K, Part II, Line 11 NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY $199,932,376 (montlair) OTHER SPENT PROCEEDS OF $194,155,582 WAS USED TO PAY debt service. Schedule K, Part II, Line 12 All Bonds listed on Schedule K For all bonds reported on Schedule K, the amount listed in Part II, Line 12 (other unspent proceeds) have been reported to reflect reserve funds, refunding escrows or the arbitrage requirements were extended beyond three years per the project contractual agreement. Schedule K, Part IV, Line 2c COLUMN A Issuer name: LA Local Gov environ facilities & community development authority The calculation for computing no rebate due was performed on 06/15/2022 Schedule K, Part IV, Line 2c COLUMN B Issuer name: LA Local Gov environ facilities & community development authority The calculation for computing no rebate due was performed on 01/01/2022 Schedule K, Part IV, Line 2c COLUMN D Issuer name: LA Local Gov environ facilities & community development authority The calculation for computing no rebate due was performed on 06/15/2022 Schedule K, Part IV, Line 2c COLUMN A Issuer name: SEMINOLE COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY The calculation for computing no rebate due was performed on 06/28/2021 Schedule K, Part IV, Line 2c COLUMN B Issuer name: DISTRICT OF COLUMBIA The calculation for computing no rebate due was performed on 04/01/2024 Schedule K, Part IV, Line 2c COLUMN C Issuer name: NJ ECONOMIC DEVELOPMENT AUTHORITY The calculation for computing no rebate due was performed on 04/30/2020 Schedule K, Part IV, Line 2c COLUMN D Issuer name: LOUISIANA PUBLIC FACILITIES AUTHORITY The calculation for computing no rebate due was performed on 07/01/2021 Schedule K, Part IV, Line 2c COLUMN A Issuer name: LOUISIANA PUBLIC FACILITIES AUTHORITY The calculation for computing no rebate due was performed on 07/01/2022 Schedule K, Part IV, Line 2c COLUMN B Issuer name: PUBLIC FINANCE AUTHORITY The calculation for computing no rebate due was performed on 02/28/2024 Schedule K, Part IV, Line 2c COLUMN C Issuer name: NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY The calculation for computing no rebate due was performed on 01/01/2024 Schedule K, Part IV, Line 2c COLUMN D Issuer name: NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY The calculation for computing no rebate due was performed on 06/01/2024 Schedule K, Part IV, Line 2c COLUMN A Issuer name: ARIZONA INDUSTRIAL DEVELOPMENT AUTHORITY The calculation for computing no rebate due was performed on 07/19/2024 Schedule K, Part IV, Line 2c COLUMN B Issuer name: ARIZONA INDUSTRIAL DEVELOPMENT AUTHORITY The calculation for computing no rebate due was performed on 03/28/2024 Schedule K, Part IV, Line 2c COLUMN C Issuer name: VIRGINIA SMALL BUSINESS FINANCING AUTHORITY The calculation for computing no rebate due was performed on 02/08/2024 Schedule K, Part IV, Line 2c COLUMN D Issuer name: LOUISIANA LOCAL GOVERNMENT ENVIRONMENTAL FACILITIES AND COMMUNITY DEVELOPMENT AUTHORITY The calculation for computing no rebate due was performed on 07/01/2024 Schedule K, Part IV, Line 2c COLUMN A Issuer name: PALM BEACH COUNTY, FLORIDA The calculation for computing no rebate due was performed on 06/25/2024 Schedule K, Part IV, Line 2c COLUMN B Issuer name: ARIZONA INDUSTRIAL DEVELOPMENT AUTHORITY The calculation for computing no rebate due was performed on 06/21/2024 Schedule K, Part IV, Line 2c COLUMN C Issuer name: ARIZONA INDUSTRIAL DEVELOPMENT AUTHORITY The calculation for computing no rebate due was performed on 01/02/2024 Schedule K, Part IV, Line 2c COLUMN D Issuer name: ILLINOIS FINANCE AUTHORITY The calculation for computing no rebate due was performed on 10/01/2024 Schedule K, Part IV, Line 2c COLUMN A Issuer name: LOUISIANA PUBLIC FACILITIES AUTHORITY The calculation for computing no rebate due was performed on 07/02/2024 Schedule K, Part IV, Line 2c COLUMN B Issuer name: ILLINOIS FINANCE AUTHORITY The calculation for computing no rebate due was performed on 10/02/2024 Schedule K, Part IV, Line 2c COLUMN D Issuer name: Palm Beach County, Florida The calculation for computing no rebate due was performed on 05/31/2024 Schedule K, Part IV, Line 2c COLUMN A Issuer name: Economic Development Authority of the City of Radford, Virginia The calculation for computing no rebate due was performed on 01/01/2024 Schedule K, Part IV, Line 2c COLUMN C Issuer name: Arizona Industrial Development Authority The calculation for computing no rebate due was performed on 12/01/2024 Schedule K, Part IV, Line 2c COLUMN D Issuer name: Public Finance Authority The calculation for computing no rebate due was performed on 12/13/2023 Schedule K, Part IV, Line 2c COLUMN A Issuer name: Illinois Finance Authority The calculation for computing no rebate due was performed on 10/01/2024 Schedule K, Part IV, Line 2c COLUMN B Issuer name: Economic Development Authority of the City of Williamsburg, VIRGINIA The calculation for computing no rebate due was performed on 07/13/2024 Schedule K, Part IV, Line 2c COLUMN A Issuer name: West Virginia Economic Development Authority The calculation for computing no rebate due was performed on 07/01/2024 A SEMINOLE COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY 592349746 2013-12-30 56000000 (UCF) ACQUISITION OF FACILITIES false false false B DISTRICT OF COLUMBIA 536001131 25483WAK8 2013-02-14 113931725 (Howard) NEW INFRASTRUCTURE & FACILITIES false false false C NJ ECONOMIC DEVELOPMENT AUTHORITY 222015817 64577BHW7 2015-04-30 130507859 (Rowan) NEW INFRASTRUCTURE & FACILITIES false false false D LOUISIANA PUBLIC FACILITIES AUTHORITY 720895871 54639TBU5 2016-09-28 251518866 (LSU-NG) NEW INFRASTRUCTURE & FACILITIES false false false A 9850000 0 56000000 2000000 0 0 503335 0 0 53496665 0 0 2013 false false true true B 13855000 0 113978481 7291125 10379367 0 2192356 0 0 94115633 0 0 2015 false false true true C 6350000 0 130741814 8177867 10634134 0 2440494 0 0 109489319 0 0 2016 false false true true D 0 0 253267522 0 24470735 0 3668940 0 0 223184654 1928157 15036 2018 false false false true A false false true true false false 0.0 0.0 0.0 false false 0 false true B false false true true false false 0.0 0.0 0.0 false false 0 false true C false false true true false false 0.0 0.0 0.0 false false 0 false true D false false true true false false 0.0 0.0 0.0 false false 0 false true A false false false true false false 15.0 false false false Bank of America 13.0 false false true B false false false true false false 0 false false false 0 false false true C false false false true false false 0 false false false 0 false false true D false false false true false false 0 false false false 0 false false true A true B true C true D true A LOUISIANA PUBLIC FACILITIES AUTHORITY 720895871 54639TCL4 2017-10-03 94664533 (LSU-GH) NEW INFRASTRUCTURE & FACILITIES false false false B PUBLIC FINANCE AUTHORITY 273866124 74444UAE2 2017-02-28 114986300 (Irving) NEW INFRASTRUCTURE & FACILITIES false false false C NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY 222045817 64577BG57 2017-02-23 45068815 (Kean) NEW INFRASTRUCTURE & FACILITIES false false false D NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY 222045817 64577B4L5 2017-12-28 199932376 (Montclair) PARTIAL REFUND OF SERIES 2010A BONDS false false false A 0 0 96070795 0 8024373 0 1745765 0 0 86073172 0 227485 2019 false false false true B 0 0 116532895 14680300 12895333 0 2147126 0 8000000 78810136 0 0 2019 false false true true C 1815000 0 45656361 2862825 4140109 0 866953 0 0 37746452 0 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false false 0 false true B false false true true false false 0.0 0.0 0.0 false false 0 false true C false false true true false false 0.0 0.0 0.0 false false 0 false true D false false true true false false 0.0 0.0 0.0 false false 0 false true A false true false false false false 0 false false false 0 false false true B false true false false false false 0 false false true Toronto-Dominion 3.0 true false true C false true false false true false 0 false false true Mass Mutual 6.0 true false true D false true false false true false 0 false false false 0 false false true A true B true C true D true A Capital Projects Finance Authority 651070560 140427CK9 2024-12-19 130442299 (Union West) ACQUISITION OF STUDENT HOUSING false false false B The health Educational and housing facility board of the county of knox 621220275 499526AU5 2024-01-25 228801223 (UTK-A) NEW INFRASTRUCTURE & FACILITIES false false false C The Health Educational and Housing Facility Board of the County of Knox 621220275 499526BK6 2024-06-12 133385214 (UTK-B) NEW INFRASTRUCTURE & FACILITIES false false false A 130442299 6773696 2318759 121349844 2024 false false true true B 236463642 21832949 1363185 120282940 92984567 92984567 false false false true C 136096941 983309 16074804 25198301 93840527 true true false true A false false true true false false 0.0 0.0 0.0 false false 0 false true B false false true true false false 0.0 0.0 0.0 false false 0 false true C false false true true false false 0.0 0.0 0.0 false false 0 false true A false true false false false false 0 false false false 0 false false true B false true false false false false 0 false false true Toronto-Dominion 2.0 true false true C false true false false true false 0 false false true Toronto-Dominion 2.0 true false true A true B true C true STUART HICKS FAMILY MEMBER OF DONOVAN O. HICKS, OFFICER 66000 salary and employee benefits false William Hicks FAMILY MEMBER OF DONOVAN O. HICKS, OFFICER 92000 salary and employee benefits false Form 990, Part III, Line 1 MISSION STATEMENT (CONTINUED FROM FORM 990, PART III, LINE 1) OPERATION, MANAGEMENT, AND DISPOSITION OF SKILLED NURSING FACILITIES, ASSISTED LIVING FACILITIES, INDEPENDENT LIVING FACILITIES, REHABILITATIVE CARE FACILITIES, AND OTHER TYPES OF SENIOR LIVING FACILITIES. - SERVE TO PROMOTE AND ADVANCE THE PHYSICAL HEALTH, EMOTIONAL HEALTH, MENTAL HEALTH AND SOCIAL WELL-BEING OF THE INDIVIDUALS, FAMILIES, AND COMMUNITIES SERVED BY THE ORGANIZATION, WHICH MAY BE ACCOMPLISHED BY THE DEVELOPMENT, CONSTRUCTION, ACQUISITION, OWNERSHIP, MANAGEMENT, MAINTENANCE, OPERATION, AND DISPOSITION OF GENERAL AND ACUTE CARE, HOSPITAL FACILITIES, MEDICAL CLINICS, MENTAL HEALTH FACILITIES, REHABILITATIVE CARE FACILITIES, PEDIATRIC FACILITIES, MEDICAL RESEARCH AND DIAGNOSTIC FACILITIES, MEDICAL TRAINING AND EDUCATIONAL FACILITIES, AND OTHER TYPES OF INPATIENT RELATED SERVICES, PROGRAMS, AND ACTIVITIES THAT MAY BE PURSUED. - SERVE TO RELIEVE THE POOR AND DISTRESSED, COMBAT COMMUNITY DETERIORATION, ELIMINATE DISCRIMINATION AND PREJUDICE, AND LESSEN NEIGHBORHOOD TENSIONS BY PROVIDING SAFE, DECENT, AND SANITARY HOUSING TO PERSONS OF LOW AND VERY LOW INCOME. - SERVE TO LESSEN THE BURDEN OF GOVERNMENT, WHICH CHARITABLE PURPOSE MAY BE ACCOMPLISHED THROUGH VARIOUS MEANS, INCLUDING, WITHOUT LIMITATION, THE DEVELOPMENT, CONSTRUCTION, ACQUISITION, OWNERSHIP, MANAGEMENT, MAINTENANCE, OPERATION AND DISPOSITION OF PUBLIC FACILITIES, PUBLIC BUILDINGS, PUBLIC WORKS, AND INFRASTRUCTURE OF VARIOUS TYPES. - SERVE TO PROMOTE AND ADVANCE EDUCATION THROUGH VARIOUS MEANS INCLUDING THE DEVELOPMENT, CONSTRUCTION, ACQUISITION, OWNERSHIP, MANAGEMENT, MAINTENANCE, OPERATION, AND DISPOSITION OF FACILITIES OF VARIOUS TYPES INCLUDING EDUCATIONAL, RESEARCH, AND STUDENT-HOUSING FACILITIES AND THROUGH THE PROVISION OF DEVELOPMENT, ENRICHMENT, COUNSELING, TUTORING, AND OTHER ACTIVITIES, SERVICES, AND PROGRAMS. Form 990, Part VI, Line 3 DELEGATION OF MANAGEMENT DUTIES Provident Resources Group Inc. does contract with third party management companies to oversee day to day operations for some of its properties. However, the management company does not act in their capacity to perform the functions typically done by officers or directors. These properties have committees that make recommendations to the officers and directors of Provident Resources Group Inc.. The Provident Resources Group Inc. officers and directors have the ultimate authority to make these decisions. Form 990, Part VI, Line 1a Delegate broad authority to a committee Board-Delegated Power Committees of Directors; Executive Committee: Pursuant to Section 14-3-825 of the Act, the Board of Directors, by resolution passed by a majority of the Directors then in office, may designate one or more other committees to have to the extent provided in such resolution. The Board of Directors may designate and exercise the Board of Director's authority under Section 14-3-801 of the Act ("Board-delegated powers") such committees as it determines necessary or appropriate for the conduct of the Corporation's affairs, each such committee to consist of such Directors of the Corporation and such other persons (who formerly were members of the Board of Directors) as are appointed by the board who shall serve at the pleasure of the Board of Directors. Except to the extent that such grant of powers is limited by Section 14-3-825 of the Act, to the extent provided in the resolution, any such committee with Board-delegated powers will have and may exercise all the authority of the Board of Directors granted to it by resolution of the Board of Directors. Such committee or committees will have such name or names as may be determined from time to time by resolution adopted by the Board of Directors. Each committee shall elect a chairman from among the members of such committee. Each committee shall also keep regular minutes of its proceedings and report the same to the Board of Directors when required. The Board of Directors may, by resolution passed by a majority of the Directors then in office, at any time change the members of; fill vacancies in; limit, expand or alter the authority of; and discharge any committee of said Board of Directors. The Board of Directors may, but shall not be required to, create an Executive Committee of the Board of Directors. If created, the Executive Committee shall be created pursuant to this Section 7.1 and shall, in the interim between meetings of the Board of Directors, have and exercise such power and authority of the Board of Directors under Section 14-3-801 in the management of the affairs of the Corporation as are delegated by the Board of Directors as limited by the Act. 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 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 audit committee (comprised of non management board members) for their review and information. each voting member of the governing body also received a copy of the Form 990 before it was filed with the IRS. Form 990, Part VI, Line 12c Conflict of interest policy All members of senior management, board of directors, and board committees sign annual conflict of interest statements. All statements are collected and reviewed by Chief Compliance Officer. 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 15a Process to establish compensation of top management official A market review of compensation for all officers is performed. 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 independent 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 15b Process to establish compensation of other employees See narrative above for Part VI, Line 15a 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 VIII, Line 2c REVENUE FROM SALES-TYPE LEASE Provident Resources Group Inc's education properties have net investment in sales-type leases. The properties deferred the interest income on the sales-type leases, which is being recognized as operating interest income over the life of the leases. Form 990, Part VIII, Line 2f Other Program Service Revenue ANCILLARY REVENUE - Total Revenue: 644518, Related or Exempt Function Revenue: 644518, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ; Form 990, Part VIII, Line 11d Other Miscellaneous Revenue other revenue - Total Revenue: 14551157, Related or Exempt Function Revenue: 14551157, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ; Form 990, Part X, Line 27 Net Asset Deficit The complex financing structures of Provident's projects, the majority of which finance depreciable assets, lead to large non-cash expenses in the "non-operating revenues (expenses)" on our operating statement and therefore a significant accumulated net asset deficit is reflected. To date, the most significant non-cash expenses include subordinate interest, which is repaid from excess cash; subordinate expenses unpaid; depreciation; and amortization. While accounting rules require disclosing these non-cash items, the resulting deficit reported is not an indication of true operating losses. Provident prudently manages the assets in our portfolio to meet the covenants within our financing documents while serving the communities we are called on to assist. 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