Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1d · Related organizations

  $55,266

• 1f · All other contributions, gifts and grants

  $895,854

• 1g · Noncash contributions included above

  $13,208

• 2a · Program service revenue: PATIENT SERVICES

  total $72,446,805 · related or exempt $72,446,805

• 2b · Program service revenue: AMORT. OF ADVANCE FEES

  total $11,421,393 · related or exempt $11,421,393

• 2c · Program service revenue: MEDICARE/MEDICAID PAYMENTS

  total $10,930,218 · related or exempt $10,930,218

• 3 · Investment income

  total $5,278,565 · excluded $5,278,565

• 6a · Gross rents

  real property $56,592

• 6b · Less rental expenses

  real property $30,939

• 6c · Rental income or loss

  real property $25,653

• 6d · Net rental income or loss

  total $25,653 · excluded $25,653

• 7a · Gross sales of assets other than inventory

  securities $406,217 · other assets $658,991

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

  securities $359,039 · other assets $2,678,791

• 7c · Gain or loss

  securities $47,178 · other assets -$2,019,800

• 7d · Net gain or loss

  total -$1,972,622 · excluded -$1,972,622

• 11a · Other revenue: MISC OPERATING REVENUE

  total $67,924 · related or exempt $67,924

• 11b · Other revenue: RECOVERY OF BAD DEBT

  total $3,000 · related or exempt $3,000

• 11c · Other revenue: VENDING

  total $196 · related or exempt $196

• 11e · Other revenue, total

  $71,120

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $487,632 · program services $487,632

• 5 · Compensation of officers, directors and key employees

  total $1,225,527 · management and general $1,225,527

• 7 · Other salaries and wages

  total $31,243,141 · program services $27,765,641 · management and general $3,298,778 · fundraising $178,722

• 8 · Pension plan contributions

  total $468,602 · program services $392,205 · management and general $72,302 · fundraising $4,095

• 9 · Other employee benefits

  total $4,834,330 · program services $4,039,438 · management and general $773,178 · fundraising $21,714

• 10 · Payroll taxes

  total $2,393,691 · program services $2,079,794 · management and general $300,564 · fundraising $13,333

• 11a · Fees: management

  total $3,294,617 · program services $1,637,659 · management and general $1,656,958

• 11b · Fees: legal

  total $223,429 · management and general $223,429

• 11c · Fees: accounting

  total $134,985 · management and general $134,985

• 11f · Fees: investment management

  total $208,670 · management and general $208,670

• 11g · Fees: other

  total $7,895,546 · program services $7,356,689 · management and general $538,857

• 12 · Advertising and promotion

  total $408,612 · program services $1,080 · management and general $407,532

• 13 · Office expenses

  total $180,518 · management and general $179,276 · fundraising $1,242

• 14 · Information technology

  total $886,702 · program services $224,714 · management and general $661,988

• 16 · Occupancy

  total $2,743,498 · program services $2,724,361 · management and general $19,137

• 17 · Travel

  total $76,066 · program services $34,638 · management and general $37,115 · fundraising $4,313

• 19 · Conferences, conventions and meetings

  total $140,720 · program services $71,091 · management and general $69,629

• 20 · Interest

  total $5,192,394 · program services $5,192,341 · management and general $53

• 22 · Depreciation, depletion and amortization

  total $15,730,142 · program services $15,568,991 · management and general $161,151

• 23 · Insurance

  total $1,155,105 · program services $1,026,530 · management and general $128,575

• 24a · Other expenses: SUPPLIES

  total $6,724,063 · program services $6,724,063

• 24b · Other expenses: ANCILLARY EXPENSES

  total $3,612,457 · program services $3,612,457

• 24c · Other expenses: EQUIPMENT RENTAL & MAIN

  total $2,754,686 · program services $2,604,964 · management and general $136,418 · fundraising $13,304

• 24d · Other expenses: CONSTRUCTION RELATED MA

  total $390,113 · management and general $390,113

• 24e · All other expenses

  total $2,570,571 · program services $1,678,662 · management and general $879,482 · fundraising $12,427

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $2,960 · end of year $2,960

• 2 · Savings and temporary cash investments

  beginning of year $25,374,809 · end of year $97,008,037

• 3 · Pledges and grants receivable

  beginning of year $10,003,141 · end of year $12,030,531

• 4 · Accounts receivable

  beginning of year $3,823,351 · end of year $4,185,514

• 8 · Inventories for sale or use

  beginning of year $231,303 · end of year $195,250

• 9 · Prepaid expenses and deferred charges

  beginning of year $1,293,484 · end of year $1,560,515

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

  $404,457,306

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

  $174,596,174

• 10c · Land, buildings and equipment, net

  beginning of year $222,348,613 · end of year $229,861,132

• 11 · Investments: publicly traded securities

  beginning of year $98,365,310 · end of year $122,086,278

• 15 · Other assets

  beginning of year $14,489,835 · end of year $9,385,576

• 17 · Accounts payable and accrued expenses

  beginning of year $8,492,117 · end of year $13,911,833

• 19 · Deferred revenue

  beginning of year $95,310,583 · end of year $111,167,988

• 20 · Tax-exempt bond liabilities

  beginning of year $160,240,169 · end of year $221,515,738

• 25 · Other liabilities

  beginning of year $86,572 · end of year $96,886

• 27 · Net assets without donor restrictions

  beginning of year $99,334,876 · end of year $114,592,712

• 28 · Net assets with donor restrictions

  beginning of year $12,468,489 · end of year $15,030,636

The filer's explanations (Part III)

PART I, LINE 5

EXECUTIVE DIRECTORS HAVE AN ESTABLISHED BONUS PLAN THAT IS BASED ON SEVERAL FACTORS SUCH AS NET OPERATING INCOME TO BUDGET, REVENUE TO BUDGET, OCCUPANCY TO BUDGET, WORKER SAFETY, STANDARD OF CARE, AND ACCOUNTS RECEIVABLE TARGETS.

PART I, LINE 6

THE CFO HAS AN ESTABLISHED BONUS PLAN THAT IS BASED ON SEVERAL FACTORS SUCH AS RECONCILIATION, NET OPERATING INCOME TO BUDGET, OPERATING STATEMENT COMPLETION, AUDIT, BUDGET DEVELOPMENT, FINANCIAL FORECAST COMPLETION TARGETS, AND ACCOUNTS RECEIVABLE TARGETS.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• UMRH AFFORDABLE HOUSING DEVELOPMENT LLC

  DEVELOP AFFORDABLE HOUSING · NC · income $9 · assets $86,264

  Directly controlled by UNITED METHODIST RETIREMENT HOMES INC

Related corporations and trusts

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

• UMRH AFFORDABLE HOUSING INC

  C · OPERATE AFFORDABLE HOUSING · NC · 100% owned · share of income $5,895 · share of assets $124,996 · controlled entity

  Directly controlled by UMRH INC