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Nonprofiteer
← GLEN EDDY INC

Form 990 for tax year 2023

Filed by GLEN EDDY INC.

Totals

Total revenue
$7,821,808
Total expenses
$8,161,806
Contributions and grants received
$151,978
Grants paid
$0
Program service revenue
$7,602,948
Investment income
$66,882
Other revenue
$0
Total assets, end of year
$19,062,518
Total liabilities, end of year
$26,047,239
Net assets or fund balances, end of year
-$6,984,721
Program services expenses (Part IX)
$6,855,686
Management and general expenses
$1,306,120
Fundraising expenses
$0
Program service expenses (Part III)
$6,855,686

Program services were 84.0% 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

    $5,449

  • 1f · All other contributions, gifts and grants

    $146,529

  • 2a · Program service revenue: RETIREMENT COMMUNITY

    total $7,602,948 · related or exempt $7,602,948

  • 3 · Investment income

    total $21,174 · excluded $21,174

  • 7a · Gross sales of assets other than inventory

    securities $45,708

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

    securities $0

  • 7c · Gain or loss

    securities $45,708

  • 7d · Net gain or loss

    total $45,708 · excluded $45,708

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $2,824,511 · program services $2,345,219 · management and general $479,292

  • 8 · Pension plan contributions

    total $107,946 · program services $89,629 · management and general $18,317

  • 9 · Other employee benefits

    total $317,030 · program services $263,233 · management and general $53,797

  • 10 · Payroll taxes

    total $212,210 · program services $176,200 · management and general $36,010

  • 11a · Fees: management

    total $22,257 · program services $18,480 · management and general $3,777

  • 11b · Fees: legal

    total $450 · management and general $450

  • 11f · Fees: investment management

    total $2,597 · management and general $2,597

  • 11g · Fees: other

    total $457,726 · program services $380,325 · management and general $77,401

  • 12 · Advertising and promotion

    total $219,441 · program services $182,204 · management and general $37,237

  • 13 · Office expenses

    total $59,958 · program services $49,784 · management and general $10,174

  • 14 · Information technology

    total $13,659 · program services $11,341 · management and general $2,318

  • 16 · Occupancy

    total $1,000,458 · program services $830,690 · management and general $169,768

  • 17 · Travel

    total $1,153 · program services $957 · management and general $196

  • 20 · Interest

    total $97,229 · program services $97,229

  • 22 · Depreciation, depletion and amortization

    total $1,543,835 · program services $1,281,861 · management and general $261,974

  • 23 · Insurance

    total $138,959 · program services $115,379 · management and general $23,580

  • 24a · Other expenses: I/C PURCHASED SERVICES

    total $625,054 · program services $518,988 · management and general $106,066

  • 24b · Other expenses: MEDICAL SUPPLIES EXPENS

    total $380,812 · program services $380,812

  • 24c · Other expenses: EQUIPMENT MAINTENANCE

    total $114,620 · program services $95,170 · management and general $19,450

  • 24d · Other expenses: SUBSCRIPTIONS AND DUES

    total $6,654 · program services $5,525 · management and general $1,129

  • 24e · All other expenses

    total $15,247 · program services $12,660 · management and general $2,587

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $35,527 · end of year $1,352

  • 4 · Accounts receivable

    beginning of year $146,526 · end of year $53,878

  • 7 · Other notes and loans receivable

    beginning of year $50,530 · end of year $139,977

  • 9 · Prepaid expenses and deferred charges

    beginning of year $298,135 · end of year $232,114

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

    $38,317,649

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

    $27,057,555

  • 10c · Land, buildings and equipment, net

    beginning of year $9,624,240 · end of year $11,260,094

  • 11 · Investments: publicly traded securities

    beginning of year $1,338,777 · end of year $1,718,135

  • 12 · Investments: other securities

    beginning of year $1,039,157 · end of year $736,343

  • 15 · Other assets

    beginning of year $4,106,006 · end of year $4,920,625

  • 17 · Accounts payable and accrued expenses

    beginning of year $765,873 · end of year $789,063

  • 19 · Deferred revenue

    beginning of year $1,022,403 · end of year $648,987

  • 23 · Secured mortgages and notes payable

    beginning of year $6,784,607 · end of year $6,784,607

  • 25 · Other liabilities

    beginning of year $14,783,918 · end of year $17,824,582

  • 27 · Net assets without donor restrictions

    beginning of year -$7,836,969 · end of year -$8,267,757

  • 28 · Net assets with donor restrictions

    beginning of year $1,119,066 · end of year $1,283,036

Mission and programs · 2023

Mission

WE, ST. PETER'S HEALTH PARTNERS AND TRINITY HEALTH, SERVE TOGETHER IN THE SPIRIT OF THE GOSPEL AS A COMPASSIONATE AND TRANSFORMING HEALING PRESENCE WITHIN OUR COMMUNITIES. GLEN EDDY IS A MEMBER OF ST. PETER'S HEALTH PARTNERS AND TRINITY HEALTH.

Activities or mission (Part I)

TO PROVIDE INDEPENDENT AND ASSISTED LIVING FACILITIES TO SENIORS

  • GLEN EDDY IS A SENIOR LIVING COMMUNITY LOCATED IN NISKAYUNA, NEW YORK. THE COMMUNITY OFFERS INDEPENDENT LIVING IN 82 APARTMENTS AND 16 COTTAGES AND ASSISTED LIVING IN 42 ENRICHED HOUSING UNITS. THE RETIREMENT COMMUNITY SERVES RESIDENTS 55 YEARS OF AGE AND OLDER, AND PROVIDES SECURITY, MAINTENANCE, DINING, ACTIVITIES, TRANSPORTATION, AND AMENITIES TO ALLOW RESIDENTS TO STAY INDEPENDENT AS LONG AS POSSIBLE. THE ENRICHED HOUSING UNITS PROVIDE ASSISTANCE WITH THE ACTIVITIES OF DAILY LIVING, AS WELL AS HEALTH RELATED SERVICES TO ITS RESIDENTS. GLEN EDDY IS COMMITTED TO MAKING ITS SERVICES AND FACILITIES AVAILABLE TO RESIDENTS WHO CAN NO LONGER MEET THE FINANCIAL OBLIGATIONS OF RESIDENCY.PLEASE VISIT OUR WEBSITE FOR ADDITIONAL INFORMATION:WWW.EDDYSENIORLIVING.COM/OUR-COMMUNITIES

    Expenses $6,855,686 · Revenue $7,602,948

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

Listed in Part VII

  • STEVEN HANKS MD

    DIRECTOR; PRESIDENT & CEO

    Total calculated
    $1,589,245
    From this org
    $0
    From related orgs
    $1,328,086
    Other
    $261,159
    Hours/week
    0.1 + 54.9 related

    Schedule J breakdown matched by us

    Base
    $0 + $786,092 related
    Bonus
    $0 + $455,500 related
    Other
    $0 + $86,494 related
    Deferred
    $0 + $220,151 related
    Nontaxable benefits
    $0 + $41,008 related
    Filer's total
    $0 + $1,589,245 related

  • KATHLEEN JIMINO

    DIR; CHR AS OF 1/24; TREAS THR 12/23

    Total calculated
    $0
    Hours/week
    0.1 + 5.9 related

  • ROBERT MCCORMICK

    DIRECTOR; CHAIR THROUGH 12/23

    Total calculated
    $0
    Hours/week
    0.1 + 5.9 related

  • WILLIAM WILDRIDGE III

    DIRECTOR; VICE CHAIR AS OF 1/24

    Total calculated
    $0
    Hours/week
    0.1 + 6.9 related

  • JOHN MARSHALL

    DIR;V CHR THR 12/23;TREAS AS OF 1/24

    Total calculated
    $0
    Hours/week
    0.1 + 6.9 related

  • GUHA BALA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1 + 5.9 related

  • GARY DAKE

    DIRECTOR THROUGH 12/23

    Total calculated
    $0
    Hours/week
    0.1 + 5.9 related

  • DANIEL ISACKSEN

    DIRECTOR; TRINITY HEALTH CFO

    Total calculated
    $2,158,967
    From this org
    $0
    From related orgs
    $1,790,506
    Other
    $368,461
    Hours/week
    0.1 + 54.9 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,076,984 related
    Bonus
    $0 + $630,000 related
    Other
    $0 + $83,522 related
    Deferred
    $0 + $334,525 related
    Nontaxable benefits
    $0 + $33,936 related
    Filer's total
    $0 + $2,158,967 related

  • MARY ANN LOGIUDICE RSM

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1 + 5.9 related

  • LEE MCELROY JR

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1 + 5.9 related

  • MICHAEL MEATH

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1 + 5.9 related

  • GINA MYERS

    DIRECTOR; SJHHC CONSULTANT

    Total calculated
    $747
    From this org
    $0
    From related orgs
    $747
    Other
    $0
    Hours/week
    0.1 + 6.9 related

  • MERRIETTE POLLARD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1 + 5.9 related

  • KERRI SWEET ZAVAGLIA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1 + 5.9 related

  • OLUWATOYIN TODAFE PHD

    DIRECTOR AS OF 1/24

    Total calculated
    $0
    Hours/week
    0.1 + 5.9 related

  • THOMAS ROBERT

    VP, CFO & TREASURER - NY REGION

    Total calculated
    $832,013
    From this org
    $0
    From related orgs
    $767,874
    Other
    $64,139
    Hours/week
    0.1 + 49.9 related

    Schedule J breakdown matched by us

    Base
    $0 + $546,216 related
    Bonus
    $0 + $147,500 related
    Other
    $0 + $74,158 related
    Deferred
    $0 + $24,750 related
    Nontaxable benefits
    $0 + $39,389 related
    Filer's total
    $0 + $832,013 related

  • ERIC FARRELL

    SECRETARY; ASSOC COUNSEL, NY REGION

    Total calculated
    $289,310
    From this org
    $0
    From related orgs
    $242,179
    Other
    $47,131
    Hours/week
    0.1 + 49.9 related

    Schedule J breakdown matched by us

    Base
    $0 + $217,094 related
    Bonus
    $0 + $24,160 related
    Other
    $0 + $925 related
    Deferred
    $0 + $15,162 related
    Nontaxable benefits
    $0 + $31,969 related
    Filer's total
    $0 + $289,310 related

  • KRISTIN SIGNOR

    CFO, CONTINUING CARE

    Total calculated
    $330,721
    From this org
    $0
    From related orgs
    $284,939
    Other
    $45,782
    Hours/week
    1 + 49 related

    Schedule J breakdown matched by us

    Base
    $0 + $227,410 related
    Bonus
    $0 + $47,283 related
    Other
    $0 + $10,246 related
    Deferred
    $0 + $17,644 related
    Nontaxable benefits
    $0 + $28,138 related
    Filer's total
    $0 + $330,721 related

  • MICHELLE MAZZACCO

    EVP, CONTINUING CARE

    Total calculated
    $441,035
    From this org
    $0
    From related orgs
    $408,336
    Other
    $32,699
    Hours/week
    1 + 49 related

    Schedule J breakdown matched by us

    Base
    $0 + $313,623 related
    Bonus
    $0 + $64,000 related
    Other
    $0 + $30,713 related
    Deferred
    $0 + $24,750 related
    Nontaxable benefits
    $0 + $7,949 related
    Filer's total
    $0 + $441,035 related

  • JACKIE REILLY

    MANAGER, RESIDENT SERVICES

    Total calculated
    $144,204
    From this org
    $114,919
    From related orgs
    $0
    Other
    $29,285
    Hours/week
    40

  • KIM BAKER

    FORMER OFFICER; SPHP SVP HOSP OPS

    Total calculated
    $822,380
    From this org
    $0
    From related orgs
    $686,833
    Other
    $135,547
    Hours/week
    0 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $499,560 related
    Bonus
    $0 + $130,000 related
    Other
    $0 + $57,273 related
    Deferred
    $0 + $98,050 related
    Nontaxable benefits
    $0 + $37,497 related
    Filer's total
    $0 + $822,380 related

  • JAMES REED MD

    FORMER OFFICER

    Total calculated
    $216,129
    From this org
    $0
    From related orgs
    $203,743
    Other
    $12,386
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $0 + $14,343 related
    Bonus
    $0
    Other
    $0 + $189,400 related
    Deferred
    $0 + $431 related
    Nontaxable benefits
    $0 + $11,955 related
    Filer's total
    $0 + $216,129 related

  • ROBERT SWIDLER ESQ

    FORMER OFFICER

    Total calculated
    $134,961
    From this org
    $0
    From related orgs
    $134,204
    Other
    $757
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $0 + $133,000 related
    Bonus
    $0
    Other
    $0 + $1,204 related
    Deferred
    $0
    Nontaxable benefits
    $0 + $757 related
    Filer's total
    $0 + $134,961 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

  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 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
GLEN EDDY IS A SUBSIDIARY IN THE TRINITY HEALTH SYSTEM. GLEN EDDY'S CEO IS PAID DIRECTLY BY THE SYSTEM'S PARENT ENTITY, TRINITY HEALTH CORPORATION. TRINITY HEALTH CORPORATION USED THE FOLLOWING METHODS TO ESTABLISH THE COMPENSATION OF GLEN EDDY'S CEO: - COMPENSATION COMMITTEE - INDEPENDENT COMPENSATION CONSULTANT - FORM 990 OF OTHER ORGANIZATIONS - WRITTEN EMPLOYMENT CONTRACT - COMPENSATION SURVEY OR STUDY, AND - APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE
PART I, LINE 4B
THE FOLLOWING ARE PARTICIPANTS IN A TRINITY HEALTH SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN (SERP) IN 2023. THE PLAN PROVIDES RETIREMENT BENEFITS TO CERTAIN TRINITY HEALTH EXECUTIVES SUBJECT TO MEETING SPECIFIED VESTING AND EMPLOYMENT DATE REQUIREMENTS. PARTICIPANTS' VESTED BENEFITS WERE PAID OUT IN 2023, AND THEIR NON-VESTED BENEFITS FOR 2023 WERE ACCRUED. THE FOLLOWING PAYOUTS FOR 2023 FOR THE PLAN ARE INCLUDED IN COLUMN B(III) OF SCHEDULE J, PART II: KIM BAKER - $44,169 STEVEN HANKS - $57,570 DANIEL ISACKSEN - $63,208 JAMES REED - $187,775 THOMAS ROBERT - $57,471 COLUMN F OF SCHEDULE J, PART II INCLUDES THE PORTION OF THESE AMOUNTS THAT WERE REPORTED AS DEFERRED COMPENSATION IN PRIOR YEARS. THE FOLLOWING ACCRUALS FOR 2023 ARE INCLUDED IN COLUMN C OF SCHEDULE J, PART II: KIM BAKER - $83,200 STEVEN HANKS - $205,301 DANIEL ISACKSEN - $324,625 THE FOLLOWING IS A PARTICIPANT IN A TRINITY HEALTH RESTORATION PLAN. THE RESTORATION PLAN PROVIDES RETIREMENT BENEFITS FOR CERTAIN TRINITY HEALTH SYSTEM OFFICE EXECUTIVES WITH EARNINGS ABOVE THE IRS PAY CAP FOR QUALIFIED PLANS ($330,000 FOR 2023). MICHELLE MAZZACCO THERE WAS NO PAYOUT FOR 2023 FOR THIS PARTICIPANT.

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 partnerships

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

Related corporations and trusts

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

Provenance

Return type
form_990
Tax year
2023
Filed
14 May 2025
IRS schema version
2023v6.0
Source object
202501349349310120

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