Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1d · Related organizations

  $2,281,244

• 1f · All other contributions, gifts and grants

  $122

• 2a · Program service revenue: INDEPENDENT LIVING

  total $40,071,281 · related or exempt $40,071,281

• 2b · Program service revenue: ASSISTED LIVING

  total $17,642,725 · related or exempt $17,642,725

• 2c · Program service revenue: EARNED ENTRANCE FEES

  total $11,172,369 · related or exempt $11,172,369

• 2d · Program service revenue: HEALTHCARE

  total $9,951,740 · related or exempt $9,951,740

• 2e · Program service revenue: MEMORY CARE

  total $4,333,282 · related or exempt $4,333,282

• 2f · All other program service revenue

  total $2,806,347 · related or exempt $2,806,347

• 3 · Investment income

  total $1,832,311 · excluded $1,832,311

• 6a · Gross rents

  real property $49,529

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $49,529

• 6d · Net rental income or loss

  total $49,529 · excluded $49,529

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

  securities $523,306

• 7c · Gain or loss

  securities -$523,306

• 7d · Net gain or loss

  total -$523,306 · excluded -$523,306

• 10a · Gross sales of inventory

  $17,363

• 10b · Cost of goods sold

  $10,881

• 10c · Net income from sales of inventory

  total $6,482 · excluded $6,482

• 11a · Other revenue: MISCELLANEOUS REVENUE

  total $1,371,693 · excluded $1,371,693

• 11b · Other revenue: PARKING REVENUE

  total $652,751 · excluded $652,751

• 11c · Other revenue: GAIN ON EXTINGUISHMENT

  total $20,406 · excluded $20,406

• 11d · All other revenue

  total -$11,630,825 · excluded -$11,630,825

• 11e · Other revenue, total

  -$9,585,975

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $173,200 · program services $173,200

• 7 · Other salaries and wages

  total $28,380,366 · program services $24,248,576 · management and general $4,131,790

• 8 · Pension plan contributions

  total $436,711 · program services $364,627 · management and general $72,084

• 9 · Other employee benefits

  total $2,520,688 · program services $1,949,972 · management and general $570,716

• 10 · Payroll taxes

  total $2,536,543 · program services $2,235,310 · management and general $301,233

• 11a · Fees: management

  total $6,858,755 · program services $6,858,755

• 11b · Fees: legal

  total $464,161 · management and general $464,161

• 11c · Fees: accounting

  total $250,230 · management and general $250,230

• 11f · Fees: investment management

  total $145,057 · management and general $145,057

• 11g · Fees: other

  total $4,043,943 · program services $3,256,434 · management and general $787,509

• 12 · Advertising and promotion

  total $1,309,287 · program services $41,313 · management and general $1,267,974

• 13 · Office expenses

  total $896,794 · program services $416,994 · management and general $479,800

• 14 · Information technology

  total $804,287 · program services $236,869 · management and general $567,418

• 16 · Occupancy

  total $11,121,652 · program services $6,117,211 · management and general $5,004,441

• 17 · Travel

  total $134,263 · program services $27,495 · management and general $106,768

• 19 · Conferences, conventions and meetings

  total $157,549 · program services $97,310 · management and general $60,239

• 20 · Interest

  total $18,172,438 · program services $18,172,438

• 22 · Depreciation, depletion and amortization

  total $24,848,706 · program services $24,848,706

• 23 · Insurance

  total $1,569,206 · management and general $1,569,206

• 24a · Other expenses: FOOD & DIETARY

  total $3,669,832 · program services $3,631,937 · management and general $37,895

• 24b · Other expenses: RESIDENT EXPENSES

  total $2,633,640 · program services $2,344,259 · management and general $289,381

• 24c · Other expenses: SMALL EQUIPMENT

  total $649,170 · program services $526,165 · management and general $123,005

• 24d · Other expenses: BAD DEBTS

  total $509,792 · program services $509,792

• 24e · All other expenses

  total $392,119 · program services $328,669 · management and general $63,450

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $13,384,263 · end of year $14,213,282

• 2 · Savings and temporary cash investments

  beginning of year $27,154,403 · end of year $19,470,890

• 4 · Accounts receivable

  beginning of year $11,818,684 · end of year $3,770,897

• 8 · Inventories for sale or use

  beginning of year $10,534 · end of year $0

• 9 · Prepaid expenses and deferred charges

  beginning of year $757,751 · end of year $861,333

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

  $567,386,083

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

  $185,861,281

• 10c · Land, buildings and equipment, net

  beginning of year $401,053,052 · end of year $381,524,802

• 11 · Investments: publicly traded securities

  beginning of year $42,103,583 · end of year $51,143,598

• 14 · Intangible assets

  beginning of year $14,538,531

• 15 · Other assets

  beginning of year $14,404,806 · end of year $26,467,192

• 17 · Accounts payable and accrued expenses

  beginning of year $15,842,314 · end of year $12,170,029

• 19 · Deferred revenue

  beginning of year $303,851,799 · end of year $320,632,993

• 20 · Tax-exempt bond liabilities

  beginning of year $353,559,816 · end of year $343,706,818

• 21 · Escrow or custodial account liability

  beginning of year $2,221,802 · end of year $3,014,961

• 23 · Secured mortgages and notes payable

  beginning of year $31,383,735 · end of year $27,565,393

• 25 · Other liabilities

  beginning of year $0 · end of year $1,792,556

• 27 · Net assets without donor restrictions

  beginning of year -$181,633,859 · end of year -$211,430,756

The filer's explanations (Part III)

PART I, LINE 3

THE FOLLOWING WERE USED BY TRANSFORMING AGE, THE SOLE MEMBER, IN DETERMINING THE PRESIDENT & CEO'S COMPENSATION: 1. COMPENSATION COMMITTEE 2. INDEPENDENT COMPENSATION CONSULTANT 3. WRITTEN EMPLOYMENT CONTRACT 4. COMPENSATION SURVEY OR STUDY 5. APPROVAL BY THE BOARD OR COMPENSATION C

Disregarded entities

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

• FH LLC

  OPERATE RETIREMENT COMMUNITY · MN · income $39,055,564 · assets $299,282,206

  Directly controlled by PRESBYTERIAN RETIREMENT COMMUNITIES NORTHWEST

• MINNESOTA SENIOR LIVING LLC

  OPERATE RETIREMENT COMMUNITY · MN · income $26,799,589 · assets $84,553,918

  Directly controlled by PRESBYTERIAN RETIREMENT COMMUNITIES NORTHWEST

Related corporations and trusts

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

• TRANSFORMING AGE VENTURES INC

  C · FOR-PROFIT VENTURES AND ACTIVITIES · WA · 100% owned · share of income $3,416,196 · share of assets $10,806,884 · controlled entity

  Directly controlled by PRESBYTERIAN RETIREMENT COMMUNITIES NW

• SENIOR HOUSING ASSISTANCE CORPORATION

  C · LOW-INCOME HOUSING · WA