Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $612,608

• 2a · Program service revenue: RENTAL INCOME

  total $2,016,635 · related or exempt $2,016,635

• 2b · Program service revenue: ELDERLY CARE SERVICES

  total $539,066 · related or exempt $539,066

• 3 · Investment income

  total $74,143 · excluded $74,143

• 7a · Gross sales of assets other than inventory

  securities $81,278

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

  securities $77,581

• 7c · Gain or loss

  securities $3,697

• 7d · Net gain or loss

  total $3,697 · excluded $3,697

• 11a · Other revenue: OTHER TENANT CHARGES

  total $22,589 · excluded $22,589

• 11b · Other revenue: PARKING REVENUE

  total $7,283 · excluded $7,283

• 11c · Other revenue: LAUNDRY AND VENDING

  total $6,551 · excluded $6,551

• 11e · Other revenue, total

  $36,423

Functional expenses

Part IX, the statement of functional expenses.

• 11a · Fees: management

  total $131,357 · management and general $131,357

• 11b · Fees: legal

  total $7,798 · management and general $7,798

• 11c · Fees: accounting

  total $18,467 · management and general $18,467

• 11f · Fees: investment management

  total $11,012 · program services $11,012

• 11g · Fees: other

  total $39,445 · management and general $39,445

• 12 · Advertising and promotion

  total $17,150 · management and general $17,150

• 13 · Office expenses

  total $61,158 · management and general $61,158

• 16 · Occupancy

  total $812,537 · program services $812,537

• 17 · Travel

  total $9 · management and general $9

• 20 · Interest

  total $345,535 · program services $345,535

• 22 · Depreciation, depletion and amortization

  total $365,542 · program services $365,542

• 24a · Other expenses: ALLOCATED COMPENSATION

  total $929,707 · program services $929,707

• 24b · Other expenses: MEAL COSTS

  total $739,681 · program services $739,681

• 24c · Other expenses: REPAIRS AND MAINTENANCE

  total $559,461 · program services $559,461

• 24d · Other expenses: BAD DEBT

  total $44,505 · management and general $44,505

• 24e · All other expenses

  total $10,472 · program services $3,865 · management and general $6,607

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $132,822 · end of year $6,602,264

• 2 · Savings and temporary cash investments

  beginning of year $420,730 · end of year $3,005,718

• 4 · Accounts receivable

  beginning of year $143,256 · end of year $103,986

• 9 · Prepaid expenses and deferred charges

  beginning of year $40,575 · end of year $96,582

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

  $14,151,152

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

  $9,759,393

• 10c · Land, buildings and equipment, net

  beginning of year $4,621,620 · end of year $4,391,759

• 11 · Investments: publicly traded securities

  beginning of year $1,763,809 · end of year $1,831,025

• 15 · Other assets

  beginning of year $351,274 · end of year $159,945

• 17 · Accounts payable and accrued expenses

  beginning of year $500,308 · end of year $227,544

• 19 · Deferred revenue

  beginning of year $48,846 · end of year $63,801

• 21 · Escrow or custodial account liability

  beginning of year $159,447 · end of year $158,224

• 23 · Secured mortgages and notes payable

  beginning of year $6,487,937 · end of year $15,371,902

• 25 · Other liabilities

  beginning of year $666,244 · end of year $1,499,120

• 27 · Net assets without donor restrictions

  beginning of year -$388,696 · end of year -$1,129,312

The filer's explanations (Part III)

PART I, LINE 3

THE CEO OF THE ORGANIZATION IS COMPENSATED BY A RELATED PARTY, SEABURY RESOURCES FOR AGING, THE FOLLOWING IS THEIR COMPENSATION POLICY. IT IS REVIEWED ANNUALLY BY THE BOARD OF DIRECTORS AND APPROVED BY THEM.