Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1d · Related organizations

  $141,498

• 1f · All other contributions, gifts and grants

  $10,000

• 2a · Program service revenue: RESIDENTIAL REVENUE

  total $20,935,810 · related or exempt $20,935,810

• 2b · Program service revenue: AMORTIZATION OF DEFERRED REV

  total $8,350,786 · related or exempt $8,350,786

• 2c · Program service revenue: HEALTH CENTER FEES

  total $7,746,296 · related or exempt $7,746,296

• 3 · Investment income

  total $1,897,382 · excluded $1,897,382

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

  total $327,488 · excluded $327,488

• 6a · Gross rents

  real property $249,779

• 6b · Less rental expenses

  real property $630

• 6c · Rental income or loss

  real property $249,149

• 6d · Net rental income or loss

  total $249,149 · excluded $249,149

• 7a · Gross sales of assets other than inventory

  securities $637,010 · other assets $44,015

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

  securities $550,142 · other assets $0

• 7c · Gain or loss

  securities $86,868 · other assets $44,015

• 7d · Net gain or loss

  total $130,883 · excluded $130,883

• 11a · Other revenue: TELEPHONE CHARGES

  total $201,868 · excluded $201,868

• 11b · Other revenue: CAFETERIA/CATERING

  total $127,362 · excluded $127,362

• 11c · Other revenue: FITNESS/PERSONAL TRAINING

  total $45,179 · excluded $45,179

• 11d · All other revenue

  total $51,093 · excluded $51,093

• 11e · Other revenue, total

  $425,502

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $34,005 · program services $34,005

• 2 · Grants to domestic individuals

  total $156,094 · program services $156,094

• 5 · Compensation of officers, directors and key employees

  total $931,496 · program services $791,772 · management and general $139,724

• 7 · Other salaries and wages

  total $10,920,285 · program services $9,282,242 · management and general $1,638,043

• 8 · Pension plan contributions

  total $652,387 · program services $554,529 · management and general $97,858

• 9 · Other employee benefits

  total $1,321,487 · program services $1,123,847 · management and general $197,640

• 10 · Payroll taxes

  total $933,567 · program services $793,532 · management and general $140,035

• 11b · Fees: legal

  total $176,864 · management and general $176,864

• 11c · Fees: accounting

  total $78,545 · management and general $78,545

• 11d · Fees: lobbying

  total $2,223 · management and general $2,223

• 11f · Fees: investment management

  total $120,760 · management and general $120,760

• 11g · Fees: other

  total $4,151,225 · program services $3,226,585 · management and general $924,640

• 12 · Advertising and promotion

  total $211,007 · management and general $211,007

• 13 · Office expenses

  total $1,155,842 · program services $577,921 · management and general $577,921

• 14 · Information technology

  total $8,386 · program services $4,193 · management and general $4,193

• 16 · Occupancy

  total $4,186,654 · program services $4,186,654

• 17 · Travel

  total $884 · program services $265 · management and general $619

• 19 · Conferences, conventions and meetings

  total $58,417 · program services $17,525 · management and general $40,892

• 20 · Interest

  total $2,393,447 · program services $2,345,578 · management and general $47,869

• 22 · Depreciation, depletion and amortization

  total $6,255,344 · program services $6,130,237 · management and general $125,107

• 23 · Insurance

  total $610,979 · management and general $610,979

• 24a · Other expenses: FOOD SERVICES

  total $1,137,510 · program services $1,137,510

• 24b · Other expenses: MEDICAL SUPPLIES

  total $168,374 · program services $168,374

• 24c · Other expenses: REPAIRS & MAINTENANCE

  total $129,757 · program services $88,220 · management and general $41,537

• 24d · Other expenses: EMPLOYEE EVENTS

  total $114,002 · program services $79,801 · management and general $34,201

• 24e · All other expenses

  total $109,745 · program services $77,275 · management and general $32,470

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $1,144,430 · end of year $2,879,106

• 2 · Savings and temporary cash investments

  beginning of year $13,158,712 · end of year $11,600,797

• 4 · Accounts receivable

  beginning of year $616,808 · end of year $788,038

• 7 · Other notes and loans receivable

  beginning of year $121,871 · end of year $141,498

• 9 · Prepaid expenses and deferred charges

  beginning of year $2,234,809 · end of year $2,478,124

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

  $190,383,839

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

  $85,984,408

• 10c · Land, buildings and equipment, net

  beginning of year $105,470,391 · end of year $104,399,431

• 11 · Investments: publicly traded securities

  beginning of year $58,138,796 · end of year $70,550,156

• 15 · Other assets

  beginning of year $7,010,186 · end of year $7,009,552

• 17 · Accounts payable and accrued expenses

  beginning of year $2,992,731 · end of year $4,313,882

• 19 · Deferred revenue

  beginning of year $73,730,673 · end of year $76,483,502

• 20 · Tax-exempt bond liabilities

  beginning of year $52,989,395 · end of year $52,406,185

• 21 · Escrow or custodial account liability

  beginning of year $917,394 · end of year $921,644

• 25 · Other liabilities

  beginning of year $67,481,285 · end of year $69,239,974

• 27 · Net assets without donor restrictions

  beginning of year -$10,215,475 · end of year -$3,518,485

The filer's explanations (Part III)

PART I, LINE 7

DIRECTORS RECEIVE A CALCULATION BASED DISCRETIONARY BONUS BASED ON THE CALCULATION DONE FOR STAFF APPRECIATION CHECKS DISTRIBUTED BY THE RESIDENT'S ASSOCIATION. THE RN RECEIVES THE HEALTH CARE WORK BONUS FROM THE STATE OF NEW YORK. THE MARKETING DIRECTOR RECEIVES A BONUS AMOUNT BASED ON THEIR COMMISSIONS.