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Nonprofiteer
← LASELL VILLAGE INC

Form 990 for tax year 2023

Filed by LASELL VILLAGE INC.

Totals

Total revenue
$26,344,417
Total expenses
$26,909,989
Contributions and grants received
$18,813
Grants paid
$0
Program service revenue
$22,724,290
Investment income
$3,105,008
Other revenue
$496,306
Total assets, end of year
$126,208,308
Total liabilities, end of year
$157,876,515
Net assets or fund balances, end of year
-$31,668,207
Program services expenses (Part IX)
$22,607,902
Management and general expenses
$4,302,087
Fundraising expenses
$0
Program service expenses (Part III)
$22,607,902

Program services were 84.0% 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.

  • 1f · All other contributions, gifts and grants

    $18,813

  • 1g · Noncash contributions included above

    $3,075

  • 2a · Program service revenue: RESIDENTIAL FEES

    total $15,592,732 · related or exempt $15,592,732

  • 2b · Program service revenue: SKILLED NURSING

    total $4,724,946 · related or exempt $4,724,946

  • 2c · Program service revenue: EARNED ENTRANCE FEE

    total $1,349,771 · related or exempt $1,349,771

  • 2d · Program service revenue: SUPPORTED LIVING UNIT FEES

    total $1,056,841 · related or exempt $1,056,841

  • 3 · Investment income

    total $2,317,318 · excluded $2,317,318

  • 7a · Gross sales of assets other than inventory

    securities $3,412,282

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

    securities $2,600,792 · other assets $23,800

  • 7c · Gain or loss

    securities $811,490 · other assets -$23,800

  • 7d · Net gain or loss

    total $787,690 · excluded $787,690

  • 11a · Other revenue: OTHER INCOME

    total $496,306 · excluded $496,306

  • 11e · Other revenue, total

    $496,306

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $415,510 · management and general $415,510

  • 7 · Other salaries and wages

    total $8,681,503 · program services $7,441,915 · management and general $1,239,588

  • 8 · Pension plan contributions

    total $322,102 · program services $276,111 · management and general $45,991

  • 9 · Other employee benefits

    total $1,069,492 · program services $916,785 · management and general $152,707

  • 10 · Payroll taxes

    total $630,701 · program services $535,873 · management and general $94,828

  • 11a · Fees: management

    total $986,379 · management and general $986,379

  • 11b · Fees: legal

    total $23,001 · management and general $23,001

  • 11c · Fees: accounting

    total $217,139 · management and general $217,139

  • 11f · Fees: investment management

    total $14,847 · management and general $14,847

  • 11g · Fees: other

    total $118,740 · program services $106,751 · management and general $11,989

  • 12 · Advertising and promotion

    total $14,949 · management and general $14,949

  • 13 · Office expenses

    total $225,167 · program services $21,014 · management and general $204,153

  • 14 · Information technology

    total $400,773 · program services $332,064 · management and general $68,709

  • 16 · Occupancy

    total $4,343,576 · program services $4,166,775 · management and general $176,801

  • 17 · Travel

    total $10,840 · management and general $10,840

  • 19 · Conferences, conventions and meetings

    total $15,894 · program services $1,783 · management and general $14,111

  • 20 · Interest

    total $701,369 · program services $653,536 · management and general $47,833

  • 22 · Depreciation, depletion and amortization

    total $6,066,850 · program services $5,653,095 · management and general $413,755

  • 23 · Insurance

    total $342,798 · program services $319,419 · management and general $23,379

  • 24a · Other expenses: MEDICAL SERVICES & EXP.

    total $1,134,811 · program services $1,134,811

  • 24b · Other expenses: REAL ESTATE TAXES

    total $757,071 · program services $705,439 · management and general $51,632

  • 24c · Other expenses: LAND LEASE

    total $195,736 · program services $182,387 · management and general $13,349

  • 24d · Other expenses: RESIDENT ACTIVITIES

    total $88,145 · program services $88,145

  • 24e · All other expenses

    total $132,596 · program services $71,999 · management and general $60,597

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,915,146 · end of year $2,820,104

  • 4 · Accounts receivable

    beginning of year $2,481,712 · end of year $2,684,548

  • 7 · Other notes and loans receivable

    beginning of year $1,497,366 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $32,665 · end of year $38,072

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

    $117,108,306

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

    $59,298,511

  • 10c · Land, buildings and equipment, net

    beginning of year $35,980,419 · end of year $57,809,795

  • 11 · Investments: publicly traded securities

    beginning of year $56,015,126 · end of year $61,720,521

  • 15 · Other assets

    beginning of year $1,776,515 · end of year $1,135,268

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,030,376 · end of year $2,754,053

  • 19 · Deferred revenue

    beginning of year $1,562,907 · end of year $1,592,083

  • 20 · Tax-exempt bond liabilities

    beginning of year $12,713,475 · end of year $12,033,845

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $15,154,153

  • 25 · Other liabilities

    beginning of year $118,271,414 · end of year $126,342,381

  • 27 · Net assets without donor restrictions

    beginning of year -$34,096,440 · end of year -$31,907,475

  • 28 · Net assets with donor restrictions

    beginning of year $217,217 · end of year $239,268

Mission and programs · 2023

Mission

LASELL VILLAGE, SPONSORED BY LASELL UNIVERSITY, IS HOME TO SOME 265 RESIDENTS IN ITS INDEPENDENT LIVING APARTMENTS, SUPPORTED LIVING STUDIOS AND INCLUDES A 38 BED SKILLED NURSING FACILITY. OPEN SINCE MAY 2000, THE VILLAGE COMBINES THE ELEMENTS OF LIFELONG LEARNING, RETIREMENT LIVING, SUPPORT SERVICES, SHORT-TERM REHABILITATION AND LONG-TERM CARE.

Activities or mission (Part I)

LASELL VILLAGE IS A CONTINUING CARE RETIREMENT COMMUNITY, ON THE CAMPUS OF LASELL UNIVERSITY, WITH INDEPENDENT, SUPPORTED, AND SKILLED NURING RESIDENTS.

  • LASELL VILLAGE OPERATES A CONTINUING CARE RETIREMENT COMMUNITY AND PROVIDES, IN COOPERATION WITH LASELL UNIVERSITY, RESIDENTIAL AND NON-RESIDENTIAL EDUCATION PROGRAMS FOR ELDERLY PERSONS. THROUGH INTERGENERATIONAL LEARNING ACTIVITIES WITH THE FACULTY AND STUDENTS OF LASELL UNIVERSITY AND PROGRAMS SPONSORED BY THE ON-SITE ROSEMARY B. FUSS CENTER FOR RESEARCH ON AGING AND INTERGENERATIONAL STUDIES, LASELL VILLAGE DISSEMINATES CURRENT AND BROAD-BASED INFORMATION ABOUT AGING AND FACTORS THAT CONTRIBUTE TO WELL-BEING IN LATER LIFE. LASELL VILLAGE SPONSORS AND PARTNERS IN RESEARCH WITH OTHER EDUCATIONAL AND RESEARCH INSTITUTIONS REGARDING THE COGNITIVE, EMOTIONAL, PHYSICAL NEEDS AND CAPABILITIES OF THE ELDERLY AND THE VALUE OF CONTINUED LEARNING IN LATER LIFE. NUMBER OF RESIDENTS ENROLLED PER SEMESTER AND THE NUMBER OF COURSES OFFERED:FALL 2023 - 208 RESIDENTS ENROLLED IN 29 COURSESSPRING 2024 - 208 RESIDENTS ENROLLED IN 29 COURSESSUMMER 2023 - 196 RESIDENTS ENROLLED IN 24 COURSES

    Expenses $22,607,902 · Revenue $22,724,290

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • JEFFREY SIMON

    CHAIR

    Total calculated
    $0
    Hours/week
    2 + 1 related

  • SUSAN HASS

    CLERK

    Total calculated
    $0
    Hours/week
    2

  • JEFFREY AUGUSTINE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • DEBORAH DACCORD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • CHRISTINE DOYLE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JULIA GALLAGHER MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • NKEM OKEKE MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • LAURIE SAMUELS PASCAL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • PAIGE SCOTT REED

    DIRECTOR (UNTIL 12/2023)

    Total calculated
    $0
    Hours/week
    1

  • KATHY SWARTZ

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • CAROLINE SCHASTNY

    RESIDENT TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • JUDITH TSIPIS

    RESIDENT TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • ALESSANDRO VIANELLO

    CFO & TREASURER

    Total calculated
    $237,529
    From this org
    $190,958
    From related orgs
    $0
    Other
    $46,571
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $173,367
    Bonus
    $17,000
    Other
    $591
    Deferred
    $13,003
    Nontaxable benefits
    $33,568
    Filer's total
    $237,529

  • REGINA HOYT

    ASSISTANT CLERK

    Total calculated
    $93,885
    From this org
    $79,629
    From related orgs
    $0
    Other
    $14,256
    Hours/week
    40

  • ZEHRA ABID-WOOD

    PRESIDENT - LASELL VILLAGE

    Total calculated
    $235,452
    From this org
    $0
    From related orgs
    $205,250
    Other
    $30,202
    Hours/week
    40 + 10 related

    Schedule J breakdown matched by us

    Base
    $0 + $205,042 related
    Bonus
    $0
    Other
    $0 + $208 related
    Deferred
    $0
    Nontaxable benefits
    $0 + $30,202 related
    Filer's total
    $0 + $235,452 related

  • ANDREW MAYLOR

    CFO - LASELL UNIVERSITY

    Total calculated
    $216,121
    From this org
    $0
    From related orgs
    $214,719
    Other
    $1,402
    Hours/week
    10 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $213,531 related
    Bonus
    $0
    Other
    $0 + $1,188 related
    Deferred
    $0
    Nontaxable benefits
    $0 + $1,402 related
    Filer's total
    $0 + $216,121 related

  • ERIC TURNER

    CEO - LASELL VILLAGE

    Total calculated
    $387,644
    From this org
    $0
    From related orgs
    $295,545
    Other
    $92,099
    Hours/week
    10 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $288,459 related
    Bonus
    $0
    Other
    $0 + $7,086 related
    Deferred
    $0 + $47,500 related
    Nontaxable benefits
    $0 + $44,599 related
    Filer's total
    $0 + $387,644 related

  • CHERYL SACKS

    DIRECTOR OF MARKETING

    Total calculated
    $246,329
    From this org
    $205,866
    From related orgs
    $0
    Other
    $40,463
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $152,077
    Bonus
    $51,000
    Other
    $2,789
    Deferred
    $11,406
    Nontaxable benefits
    $29,057
    Filer's total
    $246,329

  • RUTH BUTTA

    RN

    Total calculated
    $226,789
    From this org
    $205,905
    From related orgs
    $0
    Other
    $20,884
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $205,374
    Bonus
    $0
    Other
    $531
    Deferred
    $8,341
    Nontaxable benefits
    $12,543
    Filer's total
    $226,789

  • BENJAMIN BAILEY

    AVP OF FACILITIES & CAPITAL MGT

    Total calculated
    $242,875
    From this org
    $195,558
    From related orgs
    $0
    Other
    $47,317
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $177,423
    Bonus
    $17,000
    Other
    $1,135
    Deferred
    $13,307
    Nontaxable benefits
    $34,010
    Filer's total
    $242,875

  • PAMELA DELLICARPINI

    CHIEF OF PEOPLE

    Total calculated
    $207,247
    From this org
    $164,701
    From related orgs
    $0
    Other
    $42,546
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $139,910
    Bonus
    $23,500
    Other
    $1,291
    Deferred
    $10,319
    Nontaxable benefits
    $32,227
    Filer's total
    $207,247

  • AARON ST LAURENT

    HEALTHCARE ADMIN.

    Total calculated
    $159,974
    From this org
    $158,873
    From related orgs
    $0
    Other
    $1,101
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $154,672
    Bonus
    $4,000
    Other
    $201
    Deferred
    $435
    Nontaxable benefits
    $666
    Filer's total
    $159,974

  • MICHAEL ALEXANDER

    FMR CEO - LASELL VILLAGE

    Total calculated
    $744,005
    From this org
    $0
    From related orgs
    $715,734
    Other
    $28,271
    Hours/week
    10 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $207,660 related
    Bonus
    $0
    Other
    $0 + $508,074 related
    Deferred
    $0 + $20,555 related
    Nontaxable benefits
    $0 + $7,716 related
    Filer's total
    $0 + $744,005 related

  • DEREK PINTO

    FMR VP, ADMIN - LASELL UNIVERSITY

    Total calculated
    $104,705
    From this org
    $0
    From related orgs
    $104,705
    Other
    $0
    Hours/week
    10 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $104,466 related
    Bonus
    $0
    Other
    $0 + $239 related
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $104,705 related

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 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 7 · Other non-fixed payments

Answered no

  • 4c · Equity-based compensation arrangement
  • 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
  • 6b · Pay contingent on a related organization's net earnings
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINES 4A-B
DURING THE CALENDAR YEAR ENDED DECEMBER 31, 2023 LASELL UNIVERSITY PAID SEVERANCE RELATED COMPENSATION TO MICHAEL ALEXANDER IN THE AMOUNT OF $438,975. THE AMOUNT IS INCLUDED AS REPORTABLE COMPENSATION. DURING THE CALENDAR YEAR ENDED DECEMBER 31, 2023 LASELL UNIVERSITY CREDITED RETIREMENT PLANS PURSUANT TO SECTION 457(F) OF THE INTERNAL REVENUE CODE FOR CERTAIN EMPLOYEES, AS FOLLOWS: ERIC TURNER, $20,000
PART I, LINE 7
AS DETAILED ON SCHEDULE J, PART II, BONUSES WERE AWARDED TO CERTAIN EMPLOYEES DURING THE YEAR. BONUSES WERE AWARDED AT THE DISCRETION OF THE PRESIDENT OF LASELL UNIVERSITY AND THE PRESIDENT OF LASELL VILLAGE.

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

No itemized grants to organizations 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.

Provenance

Return type
form_990
Tax year
2023
Filed
7 May 2025
IRS schema version
2023v6.0
Source object
202541299349303794

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