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Nonprofiteer
← WESLEY COURT LLC

Form 990 for tax year 2023

Filed by WESLEY COURT LLC.

Totals

Total revenue
$12,242,736
Total expenses
$17,414,556
Contributions and grants received
$62,762
Grants paid
$0
Program service revenue
$11,720,517
Investment income
$455,980
Other revenue
$3,477
Total assets, end of year
$76,641,849
Total liabilities, end of year
$79,323,821
Net assets or fund balances, end of year
-$2,681,972
Program services expenses (Part IX)
$15,954,879
Management and general expenses
$1,459,677
Fundraising expenses
$0
Program service expenses (Part III)
$15,954,879

Program services were 91.6% 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.

  • 1d · Related organizations

    $62,762

  • 2a · Program service revenue: INDEPENDENT LIVING

    total $6,141,617 · related or exempt $6,141,617

  • 2b · Program service revenue: SKILLED NURSING

    total $5,382,265 · related or exempt $5,382,265

  • 2c · Program service revenue: ENTERENCE FEES

    total $196,635 · related or exempt $196,635

  • 3 · Investment income

    total $397,886 · excluded $397,886

  • 7a · Gross sales of assets other than inventory

    securities $58,094

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

    securities $0

  • 7c · Gain or loss

    securities $58,094

  • 7d · Net gain or loss

    total $58,094 · excluded $58,094

  • 11a · Other revenue: EMPLOYEE MEALS

    total $3,314 · excluded $3,314

  • 11b · Other revenue: TECHNOLOGY PACKAGE INC

    total $163 · excluded $163

  • 11e · Other revenue, total

    $3,477

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $4,026,522 · program services $3,221,218 · management and general $805,304

  • 8 · Pension plan contributions

    total $42,951 · program services $34,361 · management and general $8,590

  • 9 · Other employee benefits

    total $343,183 · program services $274,546 · management and general $68,637

  • 10 · Payroll taxes

    total $399,033 · program services $319,226 · management and general $79,807

  • 11a · Fees: management

    total $510,174 · program services $484,665 · management and general $25,509

  • 11b · Fees: legal

    total $16,591 · management and general $16,591

  • 11c · Fees: accounting

    total $10,000 · management and general $10,000

  • 11f · Fees: investment management

    total $2,450 · management and general $2,450

  • 11g · Fees: other

    total $216,359 · program services $205,541 · management and general $10,818

  • 12 · Advertising and promotion

    total $156,862 · program services $125,490 · management and general $31,372

  • 13 · Office expenses

    total $210,971 · program services $168,777 · management and general $42,194

  • 14 · Information technology

    total $83,537 · program services $66,830 · management and general $16,707

  • 16 · Occupancy

    total $1,214,921 · program services $1,214,921

  • 17 · Travel

    total $31,836 · program services $25,469 · management and general $6,367

  • 20 · Interest

    total $3,730,153 · program services $3,730,153

  • 22 · Depreciation, depletion and amortization

    total $4,745,387 · program services $4,508,118 · management and general $237,269

  • 23 · Insurance

    total $67,073 · program services $65,732 · management and general $1,341

  • 24a · Other expenses: FOOD

    total $532,956 · program services $532,956

  • 24b · Other expenses: PLANT OPPERATION

    total $299,553 · program services $299,553

  • 24c · Other expenses: MEDICAL SUPPLIES/ DRUGS

    total $290,440 · program services $290,440

  • 24d · Other expenses: PROFESSIONAL DUES

    total $273,760 · program services $219,008 · management and general $54,752

  • 24e · All other expenses

    total $209,844 · program services $167,875 · management and general $41,969

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    end of year $3,675,159

  • 4 · Accounts receivable

    end of year $467,997

  • 8 · Inventories for sale or use

    end of year $12,080

  • 9 · Prepaid expenses and deferred charges

    end of year $69,591

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

    $47,742,144

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

    $1,881,246

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $45,860,898

  • 14 · Intangible assets

    end of year $18,048,732

  • 15 · Other assets

    beginning of year $0 · end of year $8,507,392

  • 17 · Accounts payable and accrued expenses

    end of year $2,275,759

  • 20 · Tax-exempt bond liabilities

    end of year $60,494,013

  • 21 · Escrow or custodial account liability

    end of year $428,123

  • 25 · Other liabilities

    beginning of year $0 · end of year $16,125,926

  • 27 · Net assets without donor restrictions

    end of year -$2,681,972

Mission and programs · 2023

Mission

CREATING COMMUNITIES CELEBRATING THE LIVES OF SENIORS. LIFESPACE RECOGNIZES THAT ITS MISSION CAN ONLY BE FULFILLED THROUGH THE DEDICATED EFFORTS OF ITS EMPLOYEES, THEREFORE, INCLUDED IN OUR MISSION IS THE ABILITY TO PROVIDE DISASTER RELIEF FUNDS TO EMPLOYEES WHO ENCOUNTER CIRCUMSTANCES RECOGNIZED BY FEDERAL AND STATE AGENCIES AS QUALIFYING FOR EMERGENCY DISASTER RELIEF.

Activities or mission (Part I)

CREATE COMMUNITIES CELEBRATING THE LIVES OF SENIORS

  • TO PROVIDE APARTMENTS AND HEALTH CARE FOR RETIRED PERSONS. RESIDENTS PAY AN INITIAL ENTRANCE FEE AND MONTHLY FEES THEREAFTER WHICH ENTITLE THEM TO USE OF THE COMMUNITY FOR LIFE AND UNLIMITED USE OF THE HEALTH CENTER. RESIDENTS DO NOT ACQUIRE TITLE TO THE PROPERTY.

    Expenses $15,954,879 · Revenue $11,720,517

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Jessee Jantzen

    PRESIDENT & CFO

    Total calculated
    $1,415,832
    From this org
    $0
    From related orgs
    $1,373,000
    Other
    $42,832
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $712,677 related
    Bonus
    $0 + $515,666 related
    Other
    $0 + $144,657 related
    Deferred
    $0 + $30,250 related
    Nontaxable benefits
    $0 + $12,582 related
    Filer's total
    $0 + $1,415,832 related

  • Nick Harshfield

    CHEIF FINANCIAL OFFICER

    Total calculated
    $1,007,676
    From this org
    $0
    From related orgs
    $952,088
    Other
    $55,588
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $443,305 related
    Bonus
    $0 + $263,761 related
    Other
    $0 + $245,022 related
    Deferred
    $0 + $46,916 related
    Nontaxable benefits
    $0 + $8,672 related
    Filer's total
    $0 + $1,007,676 related

  • Brian Robbins

    CHEIF OPERATING OFFICER

    Total calculated
    $524,678
    From this org
    $0
    From related orgs
    $485,799
    Other
    $38,879
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $387,304 related
    Bonus
    $0
    Other
    $0 + $98,495 related
    Deferred
    $0 + $30,949 related
    Nontaxable benefits
    $0 + $7,930 related
    Filer's total
    $0 + $524,678 related

  • David Allen

    EXECUTIVE DIRECTOR (THRU SEPT)

    Total calculated
    $127,105
    From this org
    $116,394
    From related orgs
    $0
    Other
    $10,711
    Hours/week
    40

  • Evan Simmons

    DIRECTOR OF SALES

    Total calculated
    $127,671
    From this org
    $120,584
    From related orgs
    $0
    Other
    $7,087
    Hours/week
    40

  • Kala Spaulding

    DIRECTOR OF NURSING SERVICES

    Total calculated
    $113,221
    From this org
    $106,428
    From related orgs
    $0
    Other
    $6,793
    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

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 COMPENSATION OF THE PRESIDENT & CEO IS DETERMINED BY LIFESPACE COMMUNITIES, INC., A RELATED ENTITY. THE FOLLOWING WERE USED BY LIFESPACE COMMUNITIES INC. TO DETERMINE COMPENSATION: 1. COMPENSATION COMMITTEE 2. INDEPENDENT COMPENSATION CONSULTANT 3. FORM 990 OF OTHER ORGANIZATIONS 4. COMPENSATION SURVEY OR STUDY 5. 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.

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.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • SENIORITY INC

    C · OPERATION OF RETIREMENT COMMUNITIES · TX

  • PRAIRIE VIEW CLUB OF KANSAS

    C · RESIDENT ENTERTAINMENT SERVICES · KS

Provenance

Return type
form_990
Tax year
2023
Filed
11 November 2024
IRS schema version
2023v5.1
Source object
202443199349303234

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