Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: DEVELOP. & MGMT FEES

  total $10,824,785 · related or exempt $10,824,785

• 2b · Program service revenue: FIN. SVCS & CHARGEBACK REV.

  total $7,350,746 · related or exempt $7,350,746

• 3 · Investment income

  total $2,264,521 · excluded $2,264,521

• 7a · Gross sales of assets other than inventory

  other assets $24,122

• 7b · Less cost or other basis and sales expenses

  securities $13,318 · other assets $0

• 7c · Gain or loss

  securities -$13,318 · other assets $24,122

• 7d · Net gain or loss

  total $10,804 · excluded $10,804

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $677,339 · program services $677,339

• 5 · Compensation of officers, directors and key employees

  total $4,386,297 · program services $2,101,664 · management and general $2,284,633

• 7 · Other salaries and wages

  total $6,161,185 · program services $2,744,453 · management and general $3,416,732

• 8 · Pension plan contributions

  total $133,474 · program services $96,681 · management and general $36,793

• 9 · Other employee benefits

  total $722,592 · program services $334,876 · management and general $387,716

• 10 · Payroll taxes

  total $685,958 · program services $275,892 · management and general $410,066

• 11b · Fees: legal

  total $306,195 · management and general $306,195

• 11c · Fees: accounting

  total $49,897 · management and general $49,897

• 11d · Fees: lobbying

  total $9,500 · management and general $9,500

• 11g · Fees: other

  total $1,443,157 · program services $1,213,676 · management and general $229,481

• 12 · Advertising and promotion

  total $188,069 · program services $188,069

• 13 · Office expenses

  total $386,894 · program services $16,024 · management and general $370,870

• 16 · Occupancy

  total $531,595 · program services $531,595

• 17 · Travel

  total $178,079 · program services $154,170 · management and general $23,909

• 19 · Conferences, conventions and meetings

  total $76,761 · program services $69,740 · management and general $7,021

• 20 · Interest

  total $646,557 · program services $646,557

• 22 · Depreciation, depletion and amortization

  total $295,370 · program services $295,370

• 23 · Insurance

  total $110,536 · program services $110,536

• 24a · Other expenses: REPAIRS & MAINTENANCE

  total $451,524 · program services $8,798 · management and general $442,726

• 24b · Other expenses: DUES, FEES & SUBS.

  total $119,890 · program services $25,429 · management and general $94,461

• 24c · Other expenses: MISCELLANEOUS EXPENSE

  total $29,693 · management and general $29,693

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $700 · end of year $700

• 2 · Savings and temporary cash investments

  beginning of year $14,484,425 · end of year $17,090,340

• 4 · Accounts receivable

  beginning of year $0 · end of year $383,931

• 7 · Other notes and loans receivable

  beginning of year $66,202,877 · end of year $67,643,906

• 9 · Prepaid expenses and deferred charges

  beginning of year $361,031 · end of year $261,074

• 10a · Land, buildings and equipment: cost or other basis

  $5,602,853

• 10b · Land, buildings and equipment: accumulated depreciation

  $5,191,831

• 10c · Land, buildings and equipment, net

  beginning of year $424,822 · end of year $411,022

• 11 · Investments: publicly traded securities

  beginning of year $3,739,494 · end of year $3,634,875

• 12 · Investments: other securities

  beginning of year $75,000 · end of year $75,000

• 15 · Other assets

  beginning of year $5,828,528 · end of year $4,550,160

• 17 · Accounts payable and accrued expenses

  beginning of year $12,263,842 · end of year $15,434,551

• 19 · Deferred revenue

  beginning of year $17,672,219 · end of year $15,823,128

• 20 · Tax-exempt bond liabilities

  beginning of year $7,679,532 · end of year $7,548,357

• 23 · Secured mortgages and notes payable

  beginning of year $11,666,456 · end of year $11,327,365

• 25 · Other liabilities

  beginning of year $4,886,041 · end of year $2,960,172

• 27 · Net assets without donor restrictions

  beginning of year $36,948,787 · end of year $40,957,435

The filer's explanations (Part III)

PART I, LINE 4B

THE DEFERRED COMPENSATION AMOUNT IN COLUMN C FOR THE FOLLOWING INDIVIDUALS INCLUDES UNVESTED BENEFITS IN A SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN WHICH ARE SUBJECT TO A SUBSTANTIAL RISK OF COMPLETE FORFEITURE. ACCORDINGLY, THE INDIVIDUALS MAY NEVER ACTUALLY RECEIVE THIS UNVESTED BENEFIT AMOUNT. THE AMOUNTS OUTLINED HEREIN WERE NOT INCLUDED IN THE INDIVIDUALS' 2022 FORM W-2, BOX 5 AS TAXABLE MEDICARE WAGES: GARRETT T. MIDGETT III, $52,881, ANTHONY ARGONDIZZA, $292,500, MAUREEN E. CAFFERTY, ESQ., $52,436, AND DAVID WOODWARD, $52,635. ACCORDINGLY, THE INDIVIDUALS MAY NEVER ACTUALLY RECEIVE THESE UNVESTED BENEFIT AMOUNTS. THE AMOUNTS OUTLINED HEREIN WERE NOT INCLUDED IN THE FOLLOWING INDIVIDUALS' 2022 FORMS W-2, BOX 5 AS TAXABLE MEDICARE WAGES.

PART I, LINE 7

CERTAIN INDIVIDUALS INCLUDED IN SCHEDULE J, PART II RECEIVED A BONUS DURING CALENDAR YEAR 2022. THESE AMOUNTS WERE INCLUDED IN COLUMN B(II) HEREIN AND IN EACH INDIVIDUAL'S 2022 FORM W-2, BOX 5, AS TAXABLE MEDICARE WAGES. PLEASE REFER TO THIS SECTION OF THE FORM 990, SCHEDULE J, FOR THIS INFORMATION BY PERSON BY AMOUNT. BONUS AMOUNTS FOR SENIOR MANAGEMENT ARE DETERMINED BASED ON PERFORMANCE MEASURED AGAINST CERTAIN OPERATING AND FINANCIAL METRICS WHICH ARE REVIEWED AND APPROVED ANNUALLY BY THE COMPENSATION COMMITTEE OF THE SPRINGPOINT SENIOR LIVING BOARD OF TRUSTEES.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• PRINCETON SENIOR LIVING

  INACTIVE · NJ · income $0 · assets $0

  Directly controlled by SPRINGPOINT SENIOR LIVING INC

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

• AFFORDABLE HOUSING SOLUTIONS

  C · HEALTH SERVICES · NJ

• PLAINFIELD TOWER SOLUTIONS INC

  C · HEALTH SERVICES · NJ

• MANCHESTER HOUSING SOLUTIONS INC

  C · HEALTH SERVICES · NJ