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Nonprofiteer
← MATHER INVESTMENTS NFP

Form 990 for tax year 2023

Filed by MATHER INVESTMENTS NFP.

Totals

Total revenue
$48,376,580
Total expenses
$43,088,634
Contributions and grants received
$0
Grants paid
$12,694,162
Program service revenue
$45,175,145
Investment income
$3,201,435
Other revenue
$0
Total assets, end of year
$139,372,022
Total liabilities, end of year
$145,459,250
Net assets or fund balances, end of year
-$6,087,228
Program services expenses (Part IX)
$39,413,260
Management and general expenses
$3,675,374
Fundraising expenses
$0
Program service expenses (Part III)
$39,413,260

Program services were 91.5% 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.

  • 2a · Program service revenue: J.V. PROGRAM RECEIPTS

    total $16,812,384 · related or exempt $16,812,384

  • 2b · Program service revenue: CONTRACTED SERVICES

    total $13,899,845 · related or exempt $13,899,845

  • 2c · Program service revenue: DEVELOPMENT FEE INCOME

    total $7,591,154 · related or exempt $7,591,154

  • 2d · Program service revenue: MARKETING FEE INCOME

    total $4,024,735 · related or exempt $4,024,735

  • 2e · Program service revenue: MANAGEMENT FEE

    total $1,708,216 · related or exempt $1,708,216

  • 2f · All other program service revenue

    total $1,138,811 · related or exempt $1,138,811

  • 3 · Investment income

    total $91,435 · excluded $91,435

  • 7a · Gross sales of assets other than inventory

    other assets $3,110,000

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

    other assets $0

  • 7c · Gain or loss

    other assets $3,110,000

  • 7d · Net gain or loss

    total $3,110,000 · related or exempt $3,110,000

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $12,694,162 · program services $12,694,162

  • 7 · Other salaries and wages

    total $10,840,660 · program services $10,184,039 · management and general $656,621

  • 8 · Pension plan contributions

    total $661,664 · program services $621,594 · management and general $40,070

  • 9 · Other employee benefits

    total $1,568,340 · program services $1,425,384 · management and general $142,956

  • 10 · Payroll taxes

    total $829,301 · program services $779,079 · management and general $50,222

  • 11c · Fees: accounting

    total $15,336 · management and general $15,336

  • 13 · Office expenses

    total $804 · management and general $804

  • 24a · Other expenses: JOINT VENTURE EXPENSES

    total $12,918,645 · program services $12,918,645

  • 24b · Other expenses: CORPORATE SERVICES

    total $3,548,963 · program services $780,772 · management and general $2,768,191

  • 24c · Other expenses: PARTNERSHIP LOSS

    total $9,585 · program services $9,585

  • 24d · Other expenses: LICENSES AND FEES

    total $1,174 · management and general $1,174

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $611 · end of year $807

  • 4 · Accounts receivable

    beginning of year $17,595,083 · end of year $20,828,878

  • 7 · Other notes and loans receivable

    beginning of year $73,576,183 · end of year $82,090,301

  • 9 · Prepaid expenses and deferred charges

    beginning of year $537 · 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

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $37,709,029 · end of year $36,452,036

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $5,890,167 · end of year $14,411,512

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $130,157,168 · end of year $131,047,738

  • 27 · Net assets without donor restrictions

    beginning of year -$7,165,892 · end of year -$6,087,228

Mission and programs · 2023

Mission

MATHER INVESTMENTS, NFP ENHANCES THE LIVES OF OLDER ADULTS BY CREATING AND OPERATING SENIOR LIVING COMMUNITIES.

Activities or mission (Part I)

MATHER INVESTMENTS, NFP ENHANCES THE LIVES OF OLDER ADULTS BY CREATING AND (CONTINUED ON SCHEDULE O) OPERATING SENIOR LIVING COMMUNITIES.

  • MATHER INVESTMENTS, NFP FACILITATES THE OWNERSHIP AND OPERATIONS OF LIFE PLAN COMMUNITIES. WE ENHANCE THE LIVES OF OLDER ADULTS BY CREATING WAYS TO AGE WELL. WE ARE DEDICATED TO PROVIDING A CONTINUUM OF LIVING AND CARE.

    Expenses $21,361,511 · Grants $7,561,058 · Revenue $28,362,761

  • MATHER INVESTMENTS, NFP CONTINUES ITS MISSION THROUGH ITS PARTICIPATION IN JOINT VENTURE OPERATIONS. THE JOINT VENTURES OPERATE LIFE PLAN COMMUNITIES.

    Expenses $18,051,749 · Grants $5,133,104 · Revenue $19,922,384

As filed on the 2023 return.

Listed in Part VII

  • Mary G Leary

    PRESIDENT & CEO

    Total calculated
    $2,531,605
    From this org
    $0
    From related orgs
    $2,347,083
    Other
    $184,522
    Hours/week
    0.1 + 60.3 related

    Schedule J breakdown matched by us

    Base
    $0 + $785,043 related
    Bonus
    $0 + $1,537,750 related
    Other
    $0 + $24,290 related
    Deferred
    $0 + $147,826 related
    Nontaxable benefits
    $0 + $36,696 related
    Filer's total
    $0 + $2,531,605 related

  • John R Phillips

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    0.1 + 4.4 related

  • Terence J Toth

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1 + 2.1 related

  • Carol L Sussenbach

    CFO & TREASURER - THRU 04/2023

    Total calculated
    $859,304
    From this org
    $0
    From related orgs
    $817,872
    Other
    $41,432
    Hours/week
    0.1 + 50.3 related

    Schedule J breakdown matched by us

    Base
    $0 + $156,207 related
    Bonus
    $0 + $544,049 related
    Other
    $0 + $117,616 related
    Deferred
    $0 + $23,100 related
    Nontaxable benefits
    $0 + $18,332 related
    Filer's total
    $0 + $859,304 related

  • Julie Riggs

    SECRETARY

    Total calculated
    $267,080
    From this org
    $0
    From related orgs
    $216,965
    Other
    $50,115
    Hours/week
    0.1 + 49.9 related

    Schedule J breakdown matched by us

    Base
    $0 + $166,179 related
    Bonus
    $0 + $43,233 related
    Other
    $0 + $7,553 related
    Deferred
    $0 + $15,467 related
    Nontaxable benefits
    $0 + $34,648 related
    Filer's total
    $0 + $267,080 related

  • Mary Schoeggl

    CFO - AS OF 10/2023

    Total calculated
    $90,391
    From this org
    $0
    From related orgs
    $87,225
    Other
    $3,166
    Hours/week
    0.1 + 50.3 related

  • Christopher Manella

    SVP FINANCE & TREASURER

    Total calculated
    $485,066
    From this org
    $0
    From related orgs
    $426,583
    Other
    $58,483
    Hours/week
    0.1 + 50.3 related

    Schedule J breakdown matched by us

    Base
    $0 + $252,781 related
    Bonus
    $0 + $166,174 related
    Other
    $0 + $7,628 related
    Deferred
    $0 + $23,100 related
    Nontaxable benefits
    $0 + $35,383 related
    Filer's total
    $0 + $485,066 related

  • James Edwartoski

    EXECUTIVE DIRECTOR - THRU 11/2023

    Total calculated
    $499,471
    From this org
    $473,807
    From related orgs
    $0
    Other
    $25,664
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $217,671
    Bonus
    $52,973
    Other
    $203,163
    Deferred
    $10,469
    Nontaxable benefits
    $15,195
    Filer's total
    $499,471

  • Kristina Pare

    DIRECTOR OF SALES

    Total calculated
    $224,927
    From this org
    $196,350
    From related orgs
    $0
    Other
    $28,577
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $145,912
    Bonus
    $48,975
    Other
    $1,463
    Deferred
    $14,353
    Nontaxable benefits
    $14,224
    Filer's total
    $224,927

  • Maria Parham

    CARE CENTER ADMINISTRATOR

    Total calculated
    $170,596
    From this org
    $146,006
    From related orgs
    $0
    Other
    $24,590
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $144,109
    Bonus
    $0
    Other
    $1,897
    Deferred
    $9,935
    Nontaxable benefits
    $14,655
    Filer's total
    $170,596

  • Masood Shirmahammadi

    EXECUTIVE CHEF

    Total calculated
    $164,284
    From this org
    $139,845
    From related orgs
    $0
    Other
    $24,439
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $125,109
    Bonus
    $9,454
    Other
    $5,282
    Deferred
    $9,954
    Nontaxable benefits
    $14,485
    Filer's total
    $164,284

  • Yvonne Jung

    SVP HR THRU 09/23; DIR HR THRU 11/23

    Total calculated
    $432,983
    From this org
    $161,663
    From related orgs
    $236,991
    Other
    $34,329
    Hours/week
    12 + 38.2 related

    Schedule J breakdown matched by us

    Base
    $51,526 + $208,815 related
    Bonus
    $0 + $26,104 related
    Other
    $110,137 + $2,072 related
    Deferred
    $1,767 + $9,632 related
    Nontaxable benefits
    $2,549 + $20,381 related
    Filer's total
    $165,979 + $267,004 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

  • 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, LINE 3:
TOP MANAGEMENT'S COMPENSATION MATHER INVESTMENTS, NFP'S TOP MANAGEMENT'S COMPENSATION IS ESTABLISHED BY MATHER, AS THE COMPENSATION IS PAID BY MATHER (A RELATED ORGANIZATION). MATHER FOLLOWS PROCEDURES TO ESTABLISH THE "REBUTTABLE" PRESUMPTION OF REASONABLENESS DESCRIBED IN THE INCOME TAX REGULATIONS IN DETERMINING EXECUTIVE COMPENSATION. COMPENSATION IS REVIEWED ANNUALLY BY THE BOARD'S COMPENSATION COMMITTEE, WHICH CONSISTS OF INDEPENDENT DIRECTORS WHO OBTAIN AND RELY ON APPROPRIATE DATA AS TO COMPARABILITY. OBJECTIVE EVIDENCE OF REASONABLENESS AND COMPARABILITY IS OBTAINED FROM INFORMATION PROVIDED BY AN INDEPENDENT, THIRD PARTY COMPENSATION CONSULTANT. DETERMINATION OF EXECUTIVE COMPENSATION INVOLVES BENCHMARKING WITH COMPARATIVE MARKET COMPENSATION DATA TO ENSURE THAT COMPENSATION IS FAIR, EQUITABLE, AND WITHIN THE STANDARDS OF COMPENSATION UTILIZED WITHIN THE INDUSTRY. COMPENSATION DECISIONS ARE DOCUMENTED AND REVIEWED WITH THE FULL BOARD.
PART I, LINE 4A:
SEVERANCE PAYMENT TWO INDIVIDUALS RECEIVED A SEVERANCE PAYMENT DURING THE YEAR. THE SEVERANCE IS INCLUDED IN COMPENSATION IN SCHEDULE J, PART II, COLUMN (B)(III). PART I, LINE 4B: SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN MARY G. LEARY AND CAROL SUSSENBACH ARE PARTICIPANTS IN MATHER'S 457(F) PLANS. AS OF 2021, THE PLAN IS FROZEN AND NO LONGER ACCEPTING CONTRIBUTIONS. CAROL SUSSENBACH RECEIVED COMPENSATION FROM THE PLAN IN 2023.
PART I, LINE 7:
NON-FIXED PAYMENTS BONUS PROGRAM BASED ON GOAL ACHIEVEMENT AND INCLUDES A DISCRETIONARY NON-FIXED PAYMENTS PORTION.

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.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

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

  • TUCSON MATHER LLC

    HOLDING COMPANY · IL · income $3,110,000 · assets $0

    Directly controlled by MATHER INVESTMENTS NFP

  • TUCSON MATHER MANAGEMENT LLC

    MANAGEMENT SERVICES · IL · income $16,517,956 · assets $2,594,688

    Directly controlled by MATHER INVESTMENTS NFP

  • VIRGINIA MATHER MANAGEMENT LLC

    MANAGEMENT SERVICES · IL · income $4,253,650 · assets $13,459,431

    Directly controlled by MATHER INVESTMENTS NFP

  • VIRGINIA MATHER LPC LLC

    HOLDING COMPANY · IL · income $0 · assets $30,949,737

    Directly controlled by MATHER INVESTMENTS NFP

  • VIRGINIA MATHER DEVELOPMENT LLC

    DEVELOPMENT · IL · income $5,752,095 · assets $4,774,759

    Directly controlled by MATHER INVESTMENTS NFP

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • TUCSON MATHER PLAZA LLC

    RELATED · SENIOR LIVING · AZ · 50% owned · share of income -$713,896 · share of assets $57,232,194 · general or managing partner

    Directly controlled by MATHER INV

  • TYSONS HOLDINGS LPC LLC

    RELATED · HOLDING CO · IL · 50% owned · share of income -$525,469 · share of assets $220,609,790 · general or managing partner

    Directly controlled by MATHER INV

Provenance

Return type
form_990
Tax year
2023
Filed
14 November 2024
IRS schema version
2023v5.1
Source object
202403199349318700

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