Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1d · Related organizations

  $436,642

• 1e · Government grants (contributions)

  $34,519

• 1f · All other contributions, gifts and grants

  $318,066

• 1g · Noncash contributions included above

  $34,519

• 2a · Program service revenue: NET HEALTH SERVICES REVENUE

  total $12,059,375 · related or exempt $12,059,375

• 2b · Program service revenue: NET RETIREMENT COMMUNITY REVENUE

  total $11,279,641 · related or exempt $11,279,641

• 2c · Program service revenue: ENTRANCE FEES EARNED

  total $2,238,830 · related or exempt $2,238,830

• 2d · Program service revenue: OTHER OPERATING REVENUE

  total $826,275 · related or exempt $826,275

• 3 · Investment income

  total $607,352 · excluded $607,352

• 7a · Gross sales of assets other than inventory

  securities $12,955,495 · other assets $2,309

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

  securities $9,701,728 · other assets $1,551

• 7c · Gain or loss

  securities $3,253,767 · other assets $758

• 7d · Net gain or loss

  total $3,254,525 · excluded $3,254,525

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $5,323 · program services $5,323

• 5 · Compensation of officers, directors and key employees

  total $505,738 · management and general $498,575 · fundraising $7,163

• 7 · Other salaries and wages

  total $13,211,064 · program services $12,045,725 · management and general $1,136,159 · fundraising $29,180

• 8 · Pension plan contributions

  total $268,537 · program services $244,971 · management and general $23,566

• 9 · Other employee benefits

  total $3,289,354 · program services $2,936,737 · management and general $348,391 · fundraising $4,226

• 10 · Payroll taxes

  total $996,438 · program services $881,654 · management and general $112,233 · fundraising $2,551

• 11b · Fees: legal

  total $26,396 · management and general $26,396

• 11c · Fees: accounting

  total $48,395 · management and general $48,395

• 11f · Fees: investment management

  total $103,821 · management and general $103,821

• 11g · Fees: other

  total $1,204,344 · program services $937,972 · management and general $262,952 · fundraising $3,420

• 12 · Advertising and promotion

  total $71,797 · management and general $71,797

• 13 · Office expenses

  total $1,305,203 · program services $1,200,836 · management and general $104,367

• 14 · Information technology

  total $229,418 · management and general $229,418

• 16 · Occupancy

  total $1,734,933 · program services $1,672,763 · management and general $62,170

• 17 · Travel

  total $10,836 · program services $7,592 · management and general $3,244

• 19 · Conferences, conventions and meetings

  total $16,725 · program services $11,936 · management and general $4,789

• 20 · Interest

  total $1,742,653 · program services $1,705,182 · management and general $37,471

• 22 · Depreciation, depletion and amortization

  total $2,851,501 · program services $2,694,704 · management and general $156,797

• 23 · Insurance

  total $355,815 · program services $338,164 · management and general $17,651

• 24a · Other expenses: FOOD

  total $834,500 · program services $775,901 · management and general $58,599

• 24b · Other expenses: NURSING FACILITY ASSESS

  total $562,621 · program services $562,621

• 24e · All other expenses

  total $818,514 · program services $556,685 · management and general $261,829

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $10,267 · end of year $11,381

• 2 · Savings and temporary cash investments

  beginning of year $840,949 · end of year $857,053

• 4 · Accounts receivable

  beginning of year $649,880 · end of year $834,796

• 8 · Inventories for sale or use

  beginning of year $332,049 · end of year $123,062

• 9 · Prepaid expenses and deferred charges

  beginning of year $397,561 · end of year $425,055

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

  $90,545,368

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

  $56,051,480

• 10c · Land, buildings and equipment, net

  beginning of year $34,694,822 · end of year $34,493,888

• 11 · Investments: publicly traded securities

  beginning of year $24,931,320 · end of year $24,587,688

• 15 · Other assets

  beginning of year $28,427,167 · end of year $31,613,614

• 17 · Accounts payable and accrued expenses

  beginning of year $2,695,798 · end of year $2,626,315

• 19 · Deferred revenue

  beginning of year $12,693,345 · end of year $13,235,515

• 20 · Tax-exempt bond liabilities

  beginning of year $32,331,722 · end of year $31,093,196

• 21 · Escrow or custodial account liability

  beginning of year $7,049 · end of year $7,872

• 23 · Secured mortgages and notes payable

  beginning of year $3,761,787 · end of year $3,817,020

• 25 · Other liabilities

  beginning of year $1,072,111 · end of year $1,270,883

• 27 · Net assets without donor restrictions

  beginning of year $10,887,868 · end of year $10,928,904

• 28 · Net assets with donor restrictions

  beginning of year $26,834,335 · end of year $29,966,832

The filer's explanations (Part III)

PART I, LINE 7

IN 2023, THE HAVENWOOD-HERITAGE HEIGHTS BOARD OF DIRECTORS UNANIMOUSLY APPROVED A $30,000 BONUS FOR MICHAEL A. PALMIERI, PRESIDENT/CEO, AS A PART OF THEIR ANNUAL FORMAL EVALUATION PROCESS. THIS BONUS WAS AWARDED IN RECOGNITION OF ACHIEVEMENT OF PERFORMANCE GOALS, AND TAKES INTO CONSIDERATION THE OVERALL FINANCIAL POSITION OF THE ORGANIZATION, INNOVATIVE PROJECT AND OPERATIONAL WORK, LEADERSHIP OF DIRECT REPORTS, AND GENERAL INDUSTRY STANDARDS.