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Nonprofiteer
← SAMARITAN HOUSING FOUNDATION INC

Form 990 for tax year 2022

Filed by SAMARITAN HOUSING FOUNDATION INC.

Totals

Total revenue
$14,492,637
Total expenses
$20,325,311
Contributions and grants received
$74,004
Grants paid
$742,029
Program service revenue
$14,723,456
Investment income
-$304,823
Other revenue
$0
Total assets, end of year
$316,589,034
Total liabilities, end of year
$403,094,478
Net assets or fund balances, end of year
-$86,505,444
Program services expenses (Part IX)
$17,762,700
Management and general expenses
$2,562,611
Fundraising expenses
$0
Program service expenses (Part III)
$17,762,700

Program services were 87.4% 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.

  • 1f · All other contributions, gifts and grants

    $74,004

  • 2a · Program service revenue: RESIDENT FEES

    total $12,208,131 · related or exempt $12,208,131

  • 2b · Program service revenue: AMORTIZATION OF ENTRANCE FEE

    total $1,230,998 · related or exempt $1,230,998

  • 2c · Program service revenue: RESIDENT MEALS

    total $1,032,057 · related or exempt $1,032,057

  • 2d · Program service revenue: RESIDENT SERVICES

    total $252,270 · related or exempt $252,270

  • 3 · Investment income

    total $1,152,366 · excluded $1,152,366

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

    securities $1,457,189

  • 7c · Gain or loss

    securities -$1,457,189

  • 7d · Net gain or loss

    total -$1,457,189 · excluded -$1,457,189

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $742,029 · program services $742,029

  • 5 · Compensation of officers, directors and key employees

    total $692,580 · management and general $692,580

  • 7 · Other salaries and wages

    total $3,979,679 · program services $3,979,679

  • 8 · Pension plan contributions

    total $17,419 · program services $13,935 · management and general $3,484

  • 9 · Other employee benefits

    total $505,216 · program services $404,173 · management and general $101,043

  • 10 · Payroll taxes

    total $378,321 · program services $302,657 · management and general $75,664

  • 11a · Fees: management

    total $462,571 · management and general $462,571

  • 11b · Fees: legal

    total $130,745 · management and general $130,745

  • 11c · Fees: accounting

    total $90,896 · management and general $90,896

  • 11g · Fees: other

    total $1,254,882 · program services $1,003,906 · management and general $250,976

  • 12 · Advertising and promotion

    total $326,439 · management and general $326,439

  • 13 · Office expenses

    total $861,623 · program services $689,298 · management and general $172,325

  • 14 · Information technology

    total $250,041 · program services $200,033 · management and general $50,008

  • 16 · Occupancy

    total $725,798 · program services $580,638 · management and general $145,160

  • 17 · Travel

    total $43,195 · program services $34,556 · management and general $8,639

  • 19 · Conferences, conventions and meetings

    total $18,009 · program services $14,407 · management and general $3,602

  • 20 · Interest

    total $5,095,163 · program services $5,095,163

  • 22 · Depreciation, depletion and amortization

    total $3,584,931 · program services $3,584,931

  • 23 · Insurance

    total $296,513 · program services $296,513

  • 24a · Other expenses: FOOD AND BEVERAGE

    total $626,864 · program services $626,864

  • 24b · Other expenses: OTHER COSTS

    total $242,397 · program services $193,918 · management and general $48,479

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,476,998 · end of year $3,067,145

  • 2 · Savings and temporary cash investments

    beginning of year $115,481

  • 4 · Accounts receivable

    beginning of year $34,950 · end of year $378,917

  • 9 · Prepaid expenses and deferred charges

    beginning of year $284,994 · end of year $281,472

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

    $199,753,918

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

    $28,007,022

  • 10c · Land, buildings and equipment, net

    beginning of year $117,452,381 · end of year $171,746,896

  • 11 · Investments: publicly traded securities

    beginning of year $184,326,850 · end of year $135,408,062

  • 15 · Other assets

    beginning of year $5,684,155 · end of year $5,706,542

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,969,002 · end of year $10,217,116

  • 19 · Deferred revenue

    beginning of year $11,503,281 · end of year $12,228,673

  • 20 · Tax-exempt bond liabilities

    beginning of year $260,634,083 · end of year $260,217,496

  • 25 · Other liabilities

    beginning of year $114,102,251 · end of year $120,431,193

  • 27 · Net assets without donor restrictions

    beginning of year -$80,165,845 · end of year -$86,912,485

  • 28 · Net assets with donor restrictions

    beginning of year $333,037 · end of year $407,041

Mission and programs · 2022

Mission

SEE SCHEDULE O.

Activities or mission (Part I)

THE COMMUNITY IS ESTABLISHED TO PROVIDE AN ENHANCED RETIREMENT ENVIRONMENT FEATURING FULL- SERVICE LIFE CARE FOR RESIDENTS OF SIXTY-TWO PLUS (62+) YEARS OF AGE, WHILE EMPHASIZING AN ACTIVE LIFESTYLE, INDIVIDUAL INDEPENDENCE, PERSONAL DIGNITY, AND FAMILY ESTATE PRESERVATION.

  • SEARSTONE RETIREMENT COMMUNITY IS MADE UP OF 169 LIVING UNITS FOR 245 PEOPLE AND 39 BEDS OF NURSING CARE, 14 FOR ASSISTED LIVING AND 25 FOR NURSING CARE. SERVICES SUCH AS MEALS, HOUSEKEEPING, MAINTENANCE, ACTIVITIES, TRANSPORTATION, AND NURSING SERVICES ARE AVAILABLE. WE OFFER PHYSICAL, OCCUPATIONAL AND SPEECH THERAPY FOR THOSE RESIDENTS WHO CAN BENEFIT FROM THESE PROGRAMS.WE HAVE A FOOD SERVICE PROGRAM WHICH PROVIDES MEALS TO RESIDENTS, THEIR GUESTS AND OUR STAFF. ACTIVITIES ARE OFFERED IN EACH LEVEL OF CARE DEPENDING ON THE LEVEL OF ACTIVITIES SUITABLE FOR THAT LEVEL OF CARE, FROM GOING OUT TO PUBLIC PROGRAMS SUCH AS THEATER PRODUCTIONS TO SYMPHONIES, OR HAVING IN-HOUSE EVENTS COMPRISED OF THEME PARTIES AND GAMES. OUR NURSING SERVICES COVER THE ENTIRE CAMPUS AND RANGE FROM EMERGENCY NURSING SERVICES TO 24-HOUR NURSING SERVICES.

    Expenses $17,762,700 · Grants $742,029 · Revenue $14,723,456

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Stanley G Brading

    PRESIDENT

    Total calculated
    $416,329
    From this org
    $361,022
    From related orgs
    $0
    Other
    $55,307
    Hours/week
    30

    Schedule J breakdown matched by us

    Base
    $361,022
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $55,307
    Filer's total
    $416,329

  • Charles Norman

    DIRECTOR

    Total calculated
    $8,250
    From this org
    $8,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • James Pierce

    DIRECTOR

    Total calculated
    $8,850
    From this org
    $8,850
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Tom Beebe

    DIRECTOR

    Total calculated
    $8,850
    From this org
    $8,850
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Marc Hewitt

    DIRECTOR

    Total calculated
    $6,000
    From this org
    $6,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Mack Leath

    DIRECTOR

    Total calculated
    $8,350
    From this org
    $8,350
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Charles Henderson

    DIRECTOR

    Total calculated
    $5,750
    From this org
    $5,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Linda Coleman

    DIRECTOR

    Total calculated
    $6,850
    From this org
    $6,850
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Darryl Mills

    SPECIAL ADVISOR

    Total calculated
    $8,000
    From this org
    $8,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Earl A Mead

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • W Derrick Moore

    EXECUTIVE DIRECTOR

    Total calculated
    $186,784
    From this org
    $178,180
    From related orgs
    $0
    Other
    $8,604
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $178,180
    Bonus
    $0
    Other
    $0
    Deferred
    $2,194
    Nontaxable benefits
    $6,410
    Filer's total
    $186,784

  • Kenneth L Bullock

    CFO

    Total calculated
    $162,099
    From this org
    $153,378
    From related orgs
    $0
    Other
    $8,721
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $153,378
    Bonus
    $0
    Other
    $0
    Deferred
    $1,723
    Nontaxable benefits
    $6,998
    Filer's total
    $162,099

  • Allie Ligay

    DIRECTOR OF MARKETING

    Total calculated
    $155,484
    From this org
    $146,425
    From related orgs
    $0
    Other
    $9,059
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $146,425
    Bonus
    $0
    Other
    $0
    Deferred
    $2,369
    Nontaxable benefits
    $6,690
    Filer's total
    $155,484

  • Siva Parnam

    ADMINISTRATOR

    Total calculated
    $120,820
    From this org
    $112,770
    From related orgs
    $0
    Other
    $8,050
    Hours/week
    40

  • Susan Cotton

    SALES MANAGER

    Total calculated
    $109,465
    From this org
    $100,996
    From related orgs
    $0
    Other
    $8,469
    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

  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

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

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

Provenance

Return type
form_990
Tax year
2022
Filed
6 November 2023
IRS schema version
2022v5.0
Source object
202333109349300053

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