Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $1,877,847

• 2a · Program service revenue: RENTAL INCOME

  total $1,403,347 · related or exempt $1,403,347

• 2b · Program service revenue: ELDERLY CARE SERVICES

  total $521,727 · related or exempt $521,727

• 3 · Investment income

  total $129,423 · excluded $129,423

• 7a · Gross sales of assets other than inventory

  securities $1,946,064

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

  securities $1,961,179

• 7c · Gain or loss

  securities -$15,115

• 7d · Net gain or loss

  total -$15,115 · excluded -$15,115

• 11a · Other revenue: REIMBURSEMENT

  total $108,576 · excluded $108,576

• 11b · Other revenue: BAD DEBT COLLECTIONS

  total $40,040 · excluded $40,040

• 11c · Other revenue: OTHER TENANT CHARGES

  total $22,897 · excluded $22,897

• 11d · All other revenue

  total $12,388 · excluded $12,388

• 11e · Other revenue, total

  $183,901

Functional expenses

Part IX, the statement of functional expenses.

• 11a · Fees: management

  total $148,670 · management and general $148,670

• 11b · Fees: legal

  total $16,845 · management and general $16,845

• 11c · Fees: accounting

  total $18,495 · management and general $18,495

• 11f · Fees: investment management

  total $26,980 · program services $26,980

• 11g · Fees: other

  total $40,581 · management and general $40,581

• 12 · Advertising and promotion

  total $18,736 · management and general $18,736

• 13 · Office expenses

  total $49,629 · management and general $49,629

• 16 · Occupancy

  total $1,488,349 · program services $1,488,349

• 20 · Interest

  total $1,163 · program services $1,163

• 22 · Depreciation, depletion and amortization

  total $358,391 · program services $358,391

• 24a · Other expenses: MEAL COSTS

  total $1,004,319 · program services $1,004,319

• 24b · Other expenses: ALLOCATED COMPENSATION

  total $954,297 · program services $483,191 · management and general $471,106

• 24c · Other expenses: REPAIRS AND MAINTENANCE

  total $589,653 · program services $589,653

• 24d · Other expenses: BAD DEBT

  total $9,248 · management and general $9,248

• 24e · All other expenses

  total $15,219 · program services $6,090 · management and general $9,129

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $6,602,264 · end of year $1,436,688

• 2 · Savings and temporary cash investments

  beginning of year $3,005,718 · end of year $2,881,758

• 4 · Accounts receivable

  beginning of year $103,986 · end of year $353,418

• 9 · Prepaid expenses and deferred charges

  beginning of year $96,582 · end of year $43,474

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

  $15,614,692

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

  $10,099,864

• 10c · Land, buildings and equipment, net

  beginning of year $4,391,759 · end of year $5,514,828

• 11 · Investments: publicly traded securities

  beginning of year $1,831,025 · end of year $4,341,890

• 15 · Other assets

  beginning of year $159,945 · end of year $171,600

• 17 · Accounts payable and accrued expenses

  beginning of year $227,544 · end of year $434,106

• 19 · Deferred revenue

  beginning of year $63,801 · end of year $66,040

• 21 · Escrow or custodial account liability

  beginning of year $158,224 · end of year $171,224

• 23 · Secured mortgages and notes payable

  beginning of year $15,371,902 · end of year $15,251,252

• 25 · Other liabilities

  beginning of year $1,499,120 · end of year $0

• 27 · Net assets without donor restrictions

  beginning of year -$1,129,312 · end of year -$1,178,966

The filer's explanations (Part III)

PART I, LINE 3

THE CEO OF THE ORGANIZATION IS COMPENSATED BY A RELATED PARTY, SEABURY RESOURCES FOR AGING, THE FOLLOWING IS THEIR COMPENSATION POLICY. IT IS REVIEWED ANNUALLY BY THE BOARD OF DIRECTORS AND APPROVED BY THEM.