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← SAMARITAN HOUSING FOUNDATION INC

Form 990 for tax year 2023

Filed by SAMARITAN HOUSING FOUNDATION INC.

Totals

Total revenue
$18,465,739
Total expenses
$22,582,981
Contributions and grants received
$78,881
Grants paid
$803,363
Program service revenue
$16,114,075
Investment income
$2,272,783
Other revenue
$0
Total assets, end of year
$317,862,620
Total liabilities, end of year
$412,649,958
Net assets or fund balances, end of year
-$94,787,338
Program services expenses (Part IX)
$18,950,384
Management and general expenses
$3,632,597
Fundraising expenses
$0
Program service expenses (Part III)
$18,950,384

Program services were 83.9% 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

    $78,881

  • 2a · Program service revenue: RESIDENT FEES

    total $12,921,299 · related or exempt $12,921,299

  • 2b · Program service revenue: AMORTIZATION OF ENTRANCE FEE

    total $1,737,367 · related or exempt $1,737,367

  • 2c · Program service revenue: RESIDENT MEALS

    total $1,041,883 · related or exempt $1,041,883

  • 2d · Program service revenue: RESIDENT SERVICES

    total $413,526 · related or exempt $413,526

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $2,355,322 · excluded $2,355,322

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7a · Gross sales of assets other than inventory

    securities $1,143,253

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

    securities $1,225,792

  • 7c · Gain or loss

    securities -$82,539 · other assets $0

  • 7d · Net gain or loss

    total -$82,539 · excluded -$82,539

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $803,363 · program services $803,363

  • 5 · Compensation of officers, directors and key employees

    total $644,813 · program services $0 · management and general $644,813 · fundraising $0

  • 7 · Other salaries and wages

    total $4,272,469 · program services $4,272,469

  • 8 · Pension plan contributions

    total $9,091 · program services $7,273 · management and general $1,818

  • 9 · Other employee benefits

    total $570,033 · program services $456,026 · management and general $114,007

  • 10 · Payroll taxes

    total $410,129 · program services $328,103 · management and general $82,026

  • 11a · Fees: management

    total $466,267 · management and general $466,267

  • 11b · Fees: legal

    total $1,075,935 · management and general $1,075,935

  • 11c · Fees: accounting

    total $119,097 · management and general $119,097

  • 11g · Fees: other

    total $1,291,950 · program services $1,033,560 · management and general $258,390 · fundraising $0

  • 12 · Advertising and promotion

    total $417,688 · management and general $417,688

  • 13 · Office expenses

    total $886,493 · program services $709,194 · management and general $177,299

  • 14 · Information technology

    total $209,461 · program services $167,569 · management and general $41,892

  • 16 · Occupancy

    total $815,735 · program services $652,588 · management and general $163,147

  • 17 · Travel

    total $77,405 · program services $61,924 · management and general $15,481

  • 19 · Conferences, conventions and meetings

    total $18,718 · program services $14,974 · management and general $3,744

  • 20 · Interest

    total $5,661,334 · program services $5,661,334

  • 22 · Depreciation, depletion and amortization

    total $3,593,757 · program services $3,593,757

  • 23 · Insurance

    total $292,239 · program services $292,239

  • 24a · Other expenses: Food and Beverage

    total $692,037 · program services $692,037

  • 24b · Other expenses: Other Costs

    total $254,967 · program services $203,974 · management and general $50,993

  • 24e · All other expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,067,145 · end of year $809,979

  • 4 · Accounts receivable

    beginning of year $378,917 · end of year $541,330

  • 5 · Loans and receivables from officers and key people

    end of year $0

  • 6 · Loans and receivables from disqualified persons

    end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $281,472 · end of year $236,526

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

    $269,905,332

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

    $31,216,554

  • 10c · Land, buildings and equipment, net

    beginning of year $171,746,896 · end of year $238,688,778

  • 11 · Investments: publicly traded securities

    beginning of year $135,408,062 · end of year $71,279,232

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $5,706,542 · end of year $6,306,775

  • 17 · Accounts payable and accrued expenses

    beginning of year $10,217,116 · end of year $15,063,896

  • 19 · Deferred revenue

    beginning of year $12,228,673 · end of year $12,265,678

  • 20 · Tax-exempt bond liabilities

    beginning of year $260,217,496 · end of year $265,148,738

  • 22 · Loans and payables to officers and key people

    end of year $0

  • 25 · Other liabilities

    beginning of year $120,431,193 · end of year $120,171,646

  • 27 · Net assets without donor restrictions

    beginning of year -$86,912,485 · end of year -$95,268,260

  • 28 · Net assets with donor restrictions

    beginning of year $407,041 · end of year $480,922

Mission and programs · 2023

Mission

LIFE CARE FOR RESIDENTS OF SIXTY-TWO PLUS (62+) YEARS OF AGE, WHILE EMPHASIZING AN ACTIVE LIFESTYLE, INDIVIDUAL INDEPENDENCE, PERSONAL DIGNITY, DESIGNED TO MEET THEIR SPECIAL NEEDS FOR HOUSING, HEALTHCARE, AND FINANCIAL SECURITY.

  • Searstone Retirement Community is made up of 169 living units for 245 people and 39 beds of nursing care, 14 for assisted living and 25 for nursing care. Services such as meals, housekeeping, maintenance, activities, transportation, and nursing services are available. We offer physical, occupational and speech therapy for those residents who can benefit from these programs. We have a food service program which provides meals to residents, their guests and our staff. Activities are offered in each level of care depending on the level of activities suitable for that level of care, from going out to public programs such as theater productions to symphonies, or having in-house events comprised of theme parties and games. Our nursing services cover the entire campus and range from emergency nursing services to 24-hour nursing services.

    Expenses $18,950,384 · Grants $803,363 · Revenue $16,114,075

As filed on the 2023 return.

Listed in Part VII

  • Charles Henderson

    Director

    Total calculated
    $2,250
    From this org
    $2,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Charles Norman

    Director

    Total calculated
    $8,000
    From this org
    $8,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Darryl Mills

    Special Advisor

    Total calculated
    $10,200
    From this org
    $10,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • James Pierce

    Director

    Total calculated
    $10,000
    From this org
    $10,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Linda Coleman

    Director

    Total calculated
    $6,850
    From this org
    $6,850
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Mack Leath

    Director

    Total calculated
    $8,950
    From this org
    $8,950
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Marc Hewitt

    Director

    Total calculated
    $2,250
    From this org
    $2,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Tom Beebe

    Director

    Total calculated
    $9,050
    From this org
    $9,050
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Kenneth L Bullock

    CFO

    Total calculated
    $181,355
    From this org
    $167,392
    From related orgs
    $0
    Other
    $13,963
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $167,392
    Bonus
    $0
    Other
    $0
    Deferred
    $2,673
    Nontaxable benefits
    $11,290
    Filer's total
    $181,355

  • Stanley G Brading

    President

    Total calculated
    $309,625
    From this org
    $285,224
    From related orgs
    $0
    Other
    $24,401
    Hours/week
    25

    Schedule J breakdown matched by us

    Base
    $285,224
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $24,401
    Filer's total
    $309,625

  • W Derrick Moore

    Executive Director

    Total calculated
    $195,789
    From this org
    $192,197
    From related orgs
    $0
    Other
    $3,592
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $192,197
    Bonus
    $0
    Other
    $0
    Deferred
    $2,383
    Nontaxable benefits
    $1,209
    Filer's total
    $195,789

  • Allie Ligay

    Director of Marketing

    Total calculated
    $163,620
    From this org
    $154,435
    From related orgs
    $0
    Other
    $9,185
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $154,435
    Bonus
    $0
    Other
    $0
    Deferred
    $1,579
    Nontaxable benefits
    $7,606
    Filer's total
    $163,620

  • Paula Williams

    Director of Nursing

    Total calculated
    $101,863
    From this org
    $101,863
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Siva Parnam

    Administrator

    Total calculated
    $121,782
    From this org
    $114,591
    From related orgs
    $0
    Other
    $7,191
    Hours/week
    40

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 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 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
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

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

Provenance

Return type
form_990
Tax year
2023
Filed
23 January 2025
IRS schema version
2023v6.0
Source object
202540239349300549

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