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Nonprofiteer
← COVES AT RIVER GARDEN INC

Form 990 for tax year 2023

Filed by COVES AT RIVER GARDEN INC.

Totals

Total revenue
$3,647,358
Total expenses
$3,809,188
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$3,647,358
Investment income
$0
Other revenue
$0
Total assets, end of year
$1,308,994
Total liabilities, end of year
$630,281
Net assets or fund balances, end of year
$678,713
Program services expenses (Part IX)
$3,726,599
Management and general expenses
$82,589
Fundraising expenses
$0
Program service expenses (Part III)
$3,726,599

Program services were 97.8% 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: RESIDENT FEES

    total $3,644,329 · related or exempt $3,644,329

  • 2b · Program service revenue: OTHER RESIDENT REVENUE

    total $3,029 · related or exempt $3,029

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $978,618 · program services $978,618

  • 8 · Pension plan contributions

    total $15,260 · program services $15,260

  • 9 · Other employee benefits

    total $70,653 · program services $70,653

  • 10 · Payroll taxes

    total $75,196 · program services $75,196

  • 11c · Fees: accounting

    total $70,555 · management and general $70,555

  • 11g · Fees: other

    total $950,887 · program services $950,383 · management and general $504

  • 12 · Advertising and promotion

    total $1,933 · management and general $1,933

  • 13 · Office expenses

    total $17,993 · program services $10,001 · management and general $7,992

  • 16 · Occupancy

    total $930,858 · program services $930,858

  • 22 · Depreciation, depletion and amortization

    total $116,291 · program services $116,291

  • 23 · Insurance

    total $111,997 · program services $111,997

  • 24a · Other expenses: SUPPLIES AND EQUIPMENT

    total $468,947 · program services $467,342 · management and general $1,605

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $459,643 · end of year $321,343

  • 4 · Accounts receivable

    beginning of year $58,041 · end of year $59,315

  • 9 · Prepaid expenses and deferred charges

    beginning of year $9,045 · end of year $11,205

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

    $1,477,378

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

    $622,748

  • 10c · Land, buildings and equipment, net

    beginning of year $835,987 · end of year $854,630

  • 15 · Other assets

    beginning of year $0 · end of year $62,501

  • 17 · Accounts payable and accrued expenses

    beginning of year $153,454 · end of year $297,564

  • 19 · Deferred revenue

    beginning of year $13,750 · end of year $13,750

  • 25 · Other liabilities

    beginning of year $354,969 · end of year $318,967

  • 27 · Net assets without donor restrictions

    beginning of year $840,543 · end of year $678,713

Mission and programs · 2023

Mission

THE MISSION OF THE COVES AT RIVER GARDEN IS TO MEET THE UNIQUE RESIDENTIAL GERIATRIC CARE NEEDS OF THE JEWISH COMMUNITY AND TO PROVIDE THE FINEST IN SPECIALIZED GERIATRIC REHABILITATION AND SKILLED NURSING SERVICES TO THE COMMUNITY AT LARGE.

Activities or mission (Part I)

OPERATION OF AN 80-UNIT INDEPENDENT LIVING SENIOR HOUSING COMMUNITY.

  • THE COVES AT RIVER GARDEN IS AN INDEPENDENT LIVING RETIREMENT COMMUNITY CONSISTING OF 80 GARDEN APARTMENT HOMES. NESTLED ON 37 BEAUTIFUL ACRES, MEMBERS OF THE COVES ENJOY A LOVELY ENVIRONMENT THAT OFFERS COMFORT, SECURITY AND MAINTENANCE-FREE LIVING. THE COVES OFFERS INDEPENDENT BUT SERVICED LIVING, WITH ACCESS TO MANY AMENITIES AND SERVICES TO FACILITATE A LIFESTYLE THAT PROMOTES WELLNESS. ADDITIONAL SERVICES, INCLUDING RESIDENT CARE CASE MANAGEMENT PROVIDED ON A FEE-FOR-SERVICE BASIS, OFFERS RESIDENTS ACCESS TO A CONTINUUM OF CARE.

    Expenses $3,726,599 · Revenue $3,647,358

As filed on the 2023 return.

Listed in Part VII

  • MICHAEL PRICE

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • MALCOLM BLOOM

    1ST VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • SHIRLEY BIELSKI

    2ND VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • SUSAN COHEN

    SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • JUDY PAUL

    TREASURER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • LOIS SCHLESINGER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • SOPHIE ROTHSTEIN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • MICHAEL LISSNER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • HON HARVEY SCHLESINGER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • RACHELLE GOTTLIED

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • FAYE MIZRAHI

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • MAURI MIZRAHI

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $373,694
    From this org
    $0
    From related orgs
    $359,804
    Other
    $13,890
    Hours/week
    4 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $359,804 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $13,890 related
    Nontaxable benefits
    $0
    Filer's total
    $0 + $373,694 related

  • BETTY SORNA

    CHIEF FINANCIAL OFFICER

    Total calculated
    $290,846
    From this org
    $0
    From related orgs
    $257,553
    Other
    $33,293
    Hours/week
    4 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $257,553 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $10,993 related
    Nontaxable benefits
    $0 + $22,300 related
    Filer's total
    $0 + $290,846 related

  • MARTIN GOETZ

    FORMER CEO

    Total calculated
    $112,224
    From this org
    $0
    From related orgs
    $101,411
    Other
    $10,813
    Hours/week
    4 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $101,411 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $3,172 related
    Nontaxable benefits
    $0 + $7,641 related
    Filer's total
    $0 + $112,224 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

None.

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

The filer's explanations (Part III)

PART I, LINE 3
THE FILING ORGANIZATION'S OFFICERS ARE COMPENSATED BY A RELATED 501(C)(3) ORGANIZATION, RIVER GARDEN HOLDING COMPANY, INC. THE FOLLOWING METHODS ARE UTILIZED BY RIVER GARDEN HOLDING COMPANY, INC. TO ESTABLISH COMPENSATION FOR THE CHIEF EXECUTIVE OFFICER: - COMPENSATION COMMITTEE; - WRITTEN EMPLOYMENT CONTRACT; - COMPENSATION SURVEY OR STUDY; AND - APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE.

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
23 January 2025
IRS schema version
2023v6.0
Source object
202500239349300835

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