Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1f · All other contributions, gifts and grants

  $2,067,019

• 2a · Program service revenue: INDEPENDENT LIVING

  total $14,046,677 · related or exempt $14,046,677

• 2b · Program service revenue: HEALTH CARE

  total $7,953,914 · related or exempt $7,953,914

• 2c · Program service revenue: ENTRANCE FEES

  total $7,123,115 · related or exempt $7,123,115

• 2d · Program service revenue: ASSISTED LIVING

  total $2,534,222 · related or exempt $2,534,222

• 2e · Program service revenue: OTHER RESIDENT SERVICE

  total $2,062,339 · related or exempt $2,062,339

• 3 · Investment income

  total $1,074,641 · excluded $1,074,641

• 6a · Gross rents

  real property $35,884

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $35,884

• 6d · Net rental income or loss

  total $35,884 · excluded $35,884

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

  securities $27,363 · other assets $8,596

• 7c · Gain or loss

  securities -$27,363 · other assets -$8,596

• 7d · Net gain or loss

  total -$35,959 · excluded -$35,959

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $823,393 · program services $823,393

• 2 · Grants to domestic individuals

  total $924,723 · program services $924,723

• 7 · Other salaries and wages

  total $12,581,505 · program services $11,280,648 · management and general $1,264,010 · fundraising $36,847

• 8 · Pension plan contributions

  total $183,782 · program services $169,024 · management and general $13,689 · fundraising $1,069

• 9 · Other employee benefits

  total $1,740,631 · program services $1,600,851 · management and general $129,653 · fundraising $10,127

• 10 · Payroll taxes

  total $838,330 · program services $738,628 · management and general $96,773 · fundraising $2,929

• 11a · Fees: management

  total $177,110 · program services $177,110

• 11b · Fees: legal

  total $93,803 · program services $93,803

• 11g · Fees: other

  total $145,905 · program services $145,905

• 12 · Advertising and promotion

  total $428,088 · program services $411,836 · fundraising $16,252

• 13 · Office expenses

  total $138,964 · program services $138,964

• 14 · Information technology

  total $314,172 · program services $314,172

• 16 · Occupancy

  total $2,085,404 · program services $2,084,231 · fundraising $1,173

• 20 · Interest

  total $2,571,263 · program services $2,571,263

• 21 · Payments to affiliates

  total $1,000,000 · program services $1,000,000

• 22 · Depreciation, depletion and amortization

  total $5,733,065 · program services $5,733,065

• 23 · Insurance

  total $447,497 · program services $447,497

• 24a · Other expenses: HOUSEKEEPING & MAINTENA

  total $1,678,087 · program services $1,676,790 · fundraising $1,297

• 24b · Other expenses: FOOD & DIETARY

  total $1,630,712 · program services $1,630,712

• 24c · Other expenses: HEALTH CARE SUPPLIES

  total $1,500,131 · program services $1,500,131

• 24d · Other expenses: COVID SUPPLIES

  total $737,685 · program services $708,845 · fundraising $28,840

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $0 · end of year $1,650

• 2 · Savings and temporary cash investments

  beginning of year $19,670,896 · end of year $11,881,704

• 3 · Pledges and grants receivable

  beginning of year $147,474 · end of year $101,263

• 4 · Accounts receivable

  beginning of year $1,149,143 · end of year $1,511,717

• 9 · Prepaid expenses and deferred charges

  beginning of year $333,176 · end of year $409,189

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

  $188,165,048

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

  $42,870,472

• 10c · Land, buildings and equipment, net

  beginning of year $78,011,107 · end of year $145,294,576

• 11 · Investments: publicly traded securities

  beginning of year $27,452,237 · end of year $28,586,684

• 15 · Other assets

  beginning of year $86,446,107 · end of year $35,477,802

• 17 · Accounts payable and accrued expenses

  beginning of year $7,886,085 · end of year $5,326,021

• 19 · Deferred revenue

  end of year $53,202,364

• 20 · Tax-exempt bond liabilities

  beginning of year $81,687,702 · end of year $81,475,183

• 23 · Secured mortgages and notes payable

  beginning of year $0 · end of year $5,000,000

• 25 · Other liabilities

  beginning of year $59,563,252 · end of year $6,923,375

• 27 · Net assets without donor restrictions

  beginning of year $58,115,947 · end of year $67,684,616

• 28 · Net assets with donor restrictions

  beginning of year $5,957,154 · end of year $3,653,026

The filer's explanations (Part III)

PART I, LINE 3

THE COMPANY DOES NOT HAVE AN EXTERNAL REVIEW, HOWEVER, THE EXECUTIVE COMMITTEE OF THE SHARON'S BOARD SERVES AS THE COMPENSATION COMMITTEE. THE COMMITTEE IS GIVEN A WAGE AND SALARY SURVEY CONDUCTED ANNUALLY BY THE LEADINGAGE NATIONAL AND THE HOSPITAL AND HEALTH CARE COMPENSATION SERVICE. THE SURVEY CONSISTS OF DATA FROM OTHER CONTINUING CARE RETIREMENT COMMUNITIES (CCRC'S) FOR THE ENTIRE COUNTRY. THE DELIBERATION AND DECISION IS THEN DOCUMENTED AND PLACED IN THE CEO'S FILE HELD BY THE BOARD CHAIR. A COPY IS ALSO KEPT IN THE SHARON'S HUMAN RESOURCES RECORDS.

PART I, LINE 5

CEO, CFO, & VP'S HAD CERTAIN TARGETS TO ATTAIN INCLUDING "INCOME AVAILABLE FOR DEBT SERVICE" COMPARED TO FORECASTED FIGURES TO EARN A PORTION OF THEIR BONUS.

PART I, LINE 6

CEO, CFO, & VP'S HAD CERTAIN TARGETS TO ATTAIN INCLUDING "INCOME AVAILABLE FOR DEBT SERVICE" COMPARED TO FORECASTED FIGURES TO EARN A PORTION OF THEIR BONUS

PART I, LINE 7

CEO, CFO, AND VP'S HAD CERTAIN NON-FINANCIAL GOALS TO MEET IN ORDER TO RECEIVE A PORTION OF THEIR BONUS