Nonprofit · EIN 20-1872207
CARDINAL PROPERTIES INC
Also known as PURCELL PHILLIP M GEN PTR
Tax-exempt · MUNCIE, IN 47304
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $1,347,507 | $578,831 | $768,676 | $5,181,199 | $8,102,217 | -$2,921,018 |
| June 30, 2024 | 990 | $492,197 | $706,361 | -$214,164 | $6,573,170 | $10,262,864 | -$3,689,694 |
| June 30, 2023 | 990 | $731,471 | $972,517 | -$241,046 | $6,596,729 | $10,072,259 | -$3,475,530 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $531,744
- Investment income
- $780,829
- Net rental income
- $23,584
- Net gain from sales of assets
- $780,829
- Other revenue
- $34,934
Expenses
- Grants and similar amounts paid
- $0
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Legal fees
- $7,587
- Accounting fees
- $3,717
- Occupancy
- $43,745
- Depreciation
- $116,329
- Program services (functional)
- $567,527
- Management and general (functional)
- $11,304
Balance sheet and other
- Total assets, start of year
- $6,573,170
- Total assets, end of year
- $5,181,199
- Total liabilities, end of year
- $8,102,217
- Net assets, end of year
- -$2,921,018
- Land, buildings and equipment
- $4,975,829
- Net assets without donor restrictions
- -$2,887,006
- Net assets with donor restrictions
- -$34,012
- Gross receipts
- $1,358,887
- Employees
- 0
- Volunteers
- 5
- Year formed
- 2003
- State of legal domicile
- IN
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| Geoffrey S Mearns | Board Member Trustee or director | 1 | $0 | $606,100 | $74,426 |
| Alan Finn | VP for Business Affairs & Treasurer (End 02/25) Trustee or director | 1 | $0 | $303,899 | $42,800 |
| Jean Kramer Crosby | Board Member Trustee or director | 4 | $0 | $307,156 | $33,182 |
| Stephen J Wachtmann | Board Secretary/Treasurer Trustee or director, Officer | 4 | $0 | $189,133 | $32,517 |
| William P Cooper | BOARD MEMBER Trustee or director | 2 | $0 | $173,417 | $26,995 |
| Kenneth R Briner | Board Vice President Trustee or director, Officer | 1 | $0 | $0 | $0 |
| Randall E Pond | Board President Trustee or director, Officer | 1 | $0 | $0 | $0 |
| Gregory Zimmerman | Board Member Trustee or director | 1 | $0 | $0 | $0 |
| Michael Ray | Ex Officio Board Member Trustee or director | 1 | $0 | $0 | $0 |
| Sue Hodges Moore | INTERIM VP FOR BUSINESS AFFAIRS & TREASURER (Beg 03/25) Trustee or director | 1 | $0 | $0 | $0 |
| Sundesh Shah | Board Member Trustee or director | 1 | $0 | $0 | $0 |
990 for the year ended June 30, 2024: 11 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| Geoffrey S Mearns | Board Member Trustee or director | 1 | $0 | $1,208,682 | $61,687 |
| Alan T Finn | Board Member Trustee or director | 1 | $0 | $290,602 | $41,432 |
| Jean Kramer Crosby | Board Member Trustee or director | 4 | $0 | $270,572 | $32,308 |
| Donald Ray Allen | BOARD MEMBER (END 3/24) Trustee or director | 2 | $0 | $208,035 | $22,179 |
| Stephen J Wachtmann | Board Secretary/Treasurer Trustee or director, Officer | 4 | $0 | $166,597 | $29,303 |
| William P Cooper | BOARD MEMBER (BEG 3/24) Trustee or director | 2 | $0 | $93,282 | $16,593 |
| Kenneth R Briner | Board Vice President Trustee or director, Officer | 1 | $0 | $0 | $0 |
| Randall E Pond | Board President Trustee or director, Officer | 1 | $0 | $0 | $0 |
| Gregory Zimmerman | Board Member Trustee or director | 1 | $0 | $0 | $0 |
| Michael Ray | Ex Officio Board Member Trustee or director | 1 | $0 | $0 | $0 |
| Sundesh Shah | Board Member Trustee or director | 1 | $0 | $0 | $0 |
990 for the year ended June 30, 2023: 11 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| GEOFFREY S MEARNS | BOARD MEMBER Trustee or director | 1 | $0 | $514,908 | $58,184 |
| ALAN T FINN | BOARD MEMBER Trustee or director | 1 | $0 | $281,674 | $30,322 |
| JEAN KRAMER CROSBY | BOARD MEMBER Trustee or director | 2 | $0 | $255,420 | $30,811 |
| DONALD RAY ALLEN | BOARD MEMBER Trustee or director | 2 | $0 | $201,383 | $20,893 |
| STEPHEN J WACHTMANN | SECRETARY/TREASURER Trustee or director, Officer | 2 | $0 | $152,337 | $27,410 |
| RANDALL E POND | PRESIDENT Trustee or director, Officer | 1 | $0 | $0 | $0 |
| KENNETH R BRINER | VICE PRESIDENT Trustee or director, Officer | 1 | $0 | $0 | $0 |
| SUNDESH SHAH | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| CHARLES V SURSA | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| GREGORY E ZIMMERMAN | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| MICHAEL RAY | EX OFFICIO Trustee or director | 1 | $0 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 2800 W BETHEL AVE, MUNCIE, IN 47304-2619
- In care of
- % BALL STATE UNIVERSITY FDN
- Principal officer (990 for 2024)
- Randall Pond President, 2800 W Bethel Avenue, Muncie, IN 47304
- Signed the 990
- Randall Pond, President
- Phone
- (765) 285-8312
- Return prepared by
- Forvis Mazars LLP
Mission
CARDINAL PROPERTIES, INC. RECEIVES, HOLDS, MANAGES, AND DISPOSES OF REAL ESTATE, INTERESTS IN REAL ESTATE (INCLUDING CONSERVATION EASEMENTS), AND TANGIBLE AND INTANGIBLE PERSONAL PROPERTY FOR THE BENEFIT OF BALL STATE UNIVERSITY FOUNDATION.
Program accomplishments
- HOLDING AND MANAGING REAL ESTATE PROPERTIES THROUGHOUT THE YEAR USED FOR STUDENT HOUSING BY BALL STATE UNIVERSITY, AS WELL AS HOLDING AND MANAGING OTHER PROPERTIES AND REAL ESTATE ACTIVITIES OF BALL STATE UNIVERSITY FOUNDATION.Expenses $567,527 · revenue $543,094
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 20-1872207
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Supporting organization (509(a)(3))
- Donations deductible (Pub 78)
- Supporting organization of unknown type
- Exempt since
- 2006
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Philanthropy, voluntarism and grantmaking foundations (T20)
- Assets (IRS master file)
- $5,181,199
- Income (IRS master file)
- $1,358,887
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $1,347,507 | $578,831 | $5,181,199 | IRS |
| 990-T | June 2025 | – | – | – | IRS |
| 990 | June 2024 | $492,197 | $706,361 | $6,573,170 | XML |
| 990-T | June 2024 | – | – | – | IRS |
| 990 | June 2023 | $731,471 | $972,517 | $6,596,729 | XML |
| 990-T | June 2023 | – | – | – | IRS |
| 990 | June 2022 | $343,385 | $1,188,141 | $6,897,928 | IRS |
| 990-T | June 2022 | – | – | – | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990-T | June 2021 | – | – | – | IRS |
| 990 | June 2020 | – | – | – | IRS |
| 990 | June 2019 | – | – | – | IRS |
| 990 | June 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 20-1872207).
Questions about CARDINAL PROPERTIES INC
- What is the EIN of CARDINAL PROPERTIES INC?
- The employer identification number (EIN) of CARDINAL PROPERTIES INC is 20-1872207.
- Is CARDINAL PROPERTIES INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2006.
- Are donations to CARDINAL PROPERTIES INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Supporting organization of unknown type).
- Which annual return does CARDINAL PROPERTIES INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of CARDINAL PROPERTIES INC due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did CARDINAL PROPERTIES INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of CARDINAL PROPERTIES INC?
- The 990 for the year ended June 30, 2025 names Randall Pond President.
- Who are the officers and directors of CARDINAL PROPERTIES INC?
- The 990 for the year ended June 30, 2025 lists 11 people; 0 received compensation from the organization.
- How much revenue does CARDINAL PROPERTIES INC have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $1,347,507, expenses of $578,831 and total assets of $5,181,199 at year end.
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