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← PRESBYTERIAN HOMES FOUNDATION INC

Form 990 for tax year 2025

Filed by PRESBYTERIAN HOMES FOUNDATION INC.

Totals

Total revenue
$2,845,219
Total expenses
$2,188,464
Contributions and grants received
$587,109
Grants paid
$2,173,162
Program service revenue
$0
Investment income
$2,248,110
Other revenue
$10,000
Total assets, end of year
$59,341,243
Total liabilities, end of year
$419,998
Net assets or fund balances, end of year
$58,921,245
Program services expenses (Part IX)
$2,173,162
Management and general expenses
$15,302
Fundraising expenses
$0
Program service expenses (Part III)
$2,173,162

Program services were 99.3% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1a · Federated campaigns

    $0

  • 1b · Membership dues

    $0

  • 1c · Fundraising events

    $0

  • 1d · Related organizations

    $0

  • 1e · Government grants (contributions)

    $0

  • 1f · All other contributions, gifts and grants

    $587,109

  • 1g · Noncash contributions included above

    $0

  • 2a · Program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 2b · Program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 2c · Program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 2d · Program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 2e · Program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $690,234 · related or exempt $0 · unrelated business $0 · excluded $690,234

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 5 · Royalties

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6a · Gross rents

    real property $0 · personal property $0

  • 6b · Less rental expenses

    real property $0 · personal property $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 7a · Gross sales of assets other than inventory

    securities $3,209,338 · other assets $0

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

    securities $1,651,462 · other assets $0

  • 7c · Gain or loss

    securities $1,557,876 · other assets $0

  • 7d · Net gain or loss

    total $1,557,876 · related or exempt $0 · unrelated business $0 · excluded $1,557,876

  • 8a · Fundraising events: gross income

    $0

  • 8a · Fundraising events: contributions included on line 1c

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0 · unrelated business $0 · excluded $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11a · Other revenue: Resident Subsidies

    total $10,000 · related or exempt $0 · unrelated business $0 · excluded $10,000

  • 11b · Other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11c · Other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $10,000

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $2,173,162 · program services $2,173,162

  • 2 · Grants to domestic individuals

    total $0 · program services $0

  • 3 · Grants to foreign organizations and individuals

    total $0 · program services $0

  • 4 · Benefits paid to or for members

    total $0 · program services $0

  • 5 · Compensation of officers, directors and key employees

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 6 · Compensation of disqualified persons

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 7 · Other salaries and wages

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 8 · Pension plan contributions

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 9 · Other employee benefits

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 10 · Payroll taxes

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11a · Fees: management

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11b · Fees: legal

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11c · Fees: accounting

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11d · Fees: lobbying

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11e · Fees: professional fundraising services

    total $0 · fundraising $0

  • 11f · Fees: investment management

    total $15,302 · program services $0 · management and general $15,302 · fundraising $0

  • 11g · Fees: other

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 12 · Advertising and promotion

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 13 · Office expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 14 · Information technology

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 15 · Royalties

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 16 · Occupancy

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 17 · Travel

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 18 · Travel or entertainment for public officials

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 19 · Conferences, conventions and meetings

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 20 · Interest

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 21 · Payments to affiliates

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 23 · Insurance

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 24a · Other expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 24b · Other expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 24c · Other expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 24d · Other expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 24e · All other expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 26 · Joint costs (an allocation of the lines above)

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,012,098 · end of year $3,555,621

  • 2 · Savings and temporary cash investments

    beginning of year $0 · end of year $0

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $0 · end of year $100,000

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $0 · end of year $0

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

    $0

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $57,847,009 · end of year $55,685,622

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $250 · end of year $0

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $258,425 · end of year $419,998

  • 27 · Net assets without donor restrictions

    beginning of year $54,671,096 · end of year $47,572,459

  • 28 · Net assets with donor restrictions

    beginning of year $4,929,336 · end of year $11,348,786

Listed in Part VII

  • TIMOTHY WEBSTER

    ASSISTANT SECRETARY

    Total calculated
    $672,947
    From this org
    $0
    From related orgs
    $636,422
    Other
    $36,525
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $635,922 related
    Bonus
    $0 + $500 related
    Other
    $0
    Deferred
    $0 + $23,252 related
    Nontaxable benefits
    $0 + $13,274 related
    Filer's total
    $0 + $672,948 related

  • JULIA HANOVER

    ASSISTANT TREASURER

    Total calculated
    $503,056
    From this org
    $0
    From related orgs
    $472,517
    Other
    $30,539
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $472,017 related
    Bonus
    $0 + $500 related
    Other
    $0
    Deferred
    $0 + $17,265 related
    Nontaxable benefits
    $0 + $13,274 related
    Filer's total
    $0 + $503,056 related

  • K ALAN TUTTEROW

    ASSISTANT SECRETARY

    Total calculated
    $454,699
    From this org
    $0
    From related orgs
    $421,303
    Other
    $33,396
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $363,366 related
    Bonus
    $0 + $57,937 related
    Other
    $0
    Deferred
    $0 + $20,123 related
    Nontaxable benefits
    $0 + $13,274 related
    Filer's total
    $0 + $454,700 related

  • DELORES PARKER

    CHAIR PERSON

    Total calculated
    $0
    Hours/week
    1

  • BRIAN DONLEY

    VICE CHAIRPERSON

    Total calculated
    $0
    Hours/week
    1

  • WITHERS HORNER

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • ANGELA K BUTLER

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • JIM MORGAN

    IMMEDIATE PAST CHAIR

    Total calculated
    $0
    Hours/week
    1

  • JOHN BOOTH

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • TRIPP BRADSHAW

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • SUSAN HODGES

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • MARC HUMANN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • ALAN LIVINGSTON

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • VICKI H MCCAIN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • CLAIRE MANSFIELD

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • AVYS MASSEY

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • CORINNE NICHOLSON

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • NANCY L RUSSELL

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Part I
| PartandLinenumber:,Explanation:|Part I Line 3,THE PROCEDURES THAT THE ORGANIZATION FOLLOWS FOR SETTING COMPENSATION ARE AS FOLLOWS: 1. A BOARD OF TRUSTEES COMPENSATION COMMITTEE SHALL BE APPOINTED ANNUALLY BY THE BOARD CHAIR. THE COMMITTEE SHALL BE COMPRISED OF THE CURRENT CHAIR, IMMEDIATE PAST CHAIR, CHAIR-ELECT (IF ANY) AND 1-2 TRUSTEES AT LARGE. 2. THE COMMITTEE SHALL MEET APPROXIMATELY THIRTY DAYS PRIOR TO THE END OF THE FISCAL YEAR. 3. PRIOR TO THE MEETING, THE PRESIDENT/CEO SHALL PROVIDE COMPARABLE SALARY AND BENEFIT DATA THROUGH EXTERNAL SOURCES SUCH AS THE CEO SALARY AND BENEFIT REPORT, LEADING AGE NC WAGE SURVEY, PUBLIC RECORD IRS FORM 990S, AND INDEPENDENT SURVEYS. 4. PRIOR TO THE MEETING, THE PRESIDENT/CEO SHALL PROVIDE A STATEMENT OF ACHIEVEMENTS COMPARED TO GOALS FOR THE CURRENT YEAR AND A PRELIMINARY LIST OF PERFORMANCE GOALS FOR THE SUCCEEDING YEAR.|
Part I & Part II
| PartandLinenumber:,Explanation:| Part I Line 3,5. AT THE MEETING THE PRESIDENT CEO SHALL INFORM THE COMMITTEE OF PROPOSED SALARY ADJUSTMENTS FOR SENIOR MANAGEMENT FOR THE SUCCEEDING YEAR. THE PRESIDENT CEO MAY PRESENT COMPARABLE SALARY DATA FOR SENIOR MANAGEMENT AT THE COMMITTEES DISCRETION. 6. AT THE MEETING AND AFTER PRESENTING YEAR-END RESULTS AND SUCCEEDING YEAR GOALS THE COMMITTEE MAY EXCUSE THE PRESIDENT CEO ENTER INTO EXECUTIVE SESSION AND DISCUSS THE PRESIDENT CEOS PERFORMANCE AND COMPENSATION. 7. AT THE CONCLUSION OF THE MEETING THE BOARD CHAIR SHALL MEET WITH THE PRESIDENT CEO IN ORDER TO REVIEW THE COMMITTEES ASSESSMENT OF PERFORMANCE AND SALARY. SALARY ADJUSTMENTS TO THE PRESIDENT CEOS COMPENSATION SHALL BE AUTHORIZED BY SIGNATURE OF THE BOARD CHAIR OR VICE CHAIR ONLY.|Part I Line 3,8. AT THE FIRST BOARD OF TRUSTEES MEETING FOLLOWING THE COMPENSATION COMMITTEES MEETING THE BOARD CHAIR SHALL REPORT THE COMMITTEES FINDINGS AND THE COMMITTEES ACTIONS REGARDING EMPLOYMENT STATUS RECOMMENDATIONS AND SALARY OR BENEFIT ADJUSTMENTS FOR THE PRESIDENT CEO. THE COMPENSATION COMMITTEE BELIEVES THAT THE PRIMARY OBJECTIVES OF KINTURAS EXECUTIVE COMPENSATION POLICIES SHOULD BE: - TO ATTRACT AND RETAIN TALENTED EXECUTIVES BY PROVIDING COMPENSATION THAT IS OVERALL HIGHLY COMPETITIVE WITH THE COMPENSATION PROVIDED TO EXECUTIVES AT COMPANIES OF COMPARABLE POSITION IN THE CONTINUING CARE RETIREMENT COMMUNITY FIELD WHILE MAINTAINING COMPENSATION WITHIN LEVELS THAT ARE CONSISTENT WITH ORGANIZATIONS ANNUAL BUDGET FINANCIAL OBJECTIVES OPERATING PERFORMANCE AND RESIDENT AND STAFF SATISFACTION;|Part I Line 3,- TO PROVIDE APPROPRIATE INCENTIVES FOR EXECUTIVES TO WORK TOWARD THE ACHIEVEMENT OF THE ORGANIZATIONS ANNUAL FINANCIAL PERFORMANCE AND BUSINESS GOALS BASED ON THE ORGANIZATIONS ANNUAL BUDGET. THE COMPENSATION COMMITTEE REVIEWS EXECUTIVE COMPENSATION POLICIES ANNUALLY TAKING INTO CONSIDERATION THE ORGANIZATIONS FINANCIAL PERFORMANCE ANNUAL BUDGET POSITION IN THE INDUSTRY MISSION STATEMENT AND CORE VALUES. THE COMPENSATION COMMITTEE BELIEVES THAT IN ADDITION TO CORPORATE PERFORMANCE IT IS APPROPRIATE IN SETTING AND REVIEWING EXECUTIVE COMPENSATION TO CONSIDER THE LEVEL OF EXPERIENCE AND RESPONSIBILITIES OF EACH EXECUTIVE OFFICER AS WELL AS THE PERSONAL CONTRIBUTIONS A PARTICULAR INDIVIDUAL MAY MAKE TO THE SUCCESS OF THE ORGANIZATION. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2025.|

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • PRESBYTERIAN HOME INC

    501(C)(3) · CARE FOR SENIOR ADULTS · NC

  • GLENAIRE INC

    501(C)(3) · CARE FOR SENIOR ADULTS · NC · controlled entity

    Directly controlled by PRESBYTERIAN HOMES INC

Provenance

Return type
form_990
Tax year
2025
IRS schema version
2025v4.2
Source object
202602459349300400

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