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Nonprofiteer
← PRESBYTERIAN RETIREMENT CORPORATION INC

Form 990 for tax year 2023

Filed by PRESBYTERIAN RETIREMENT CORPORATION INC.

Totals

Total revenue
$1,461,143
Total expenses
$1,401,875
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$1,450,644
Investment income
$576
Other revenue
$9,923
Total assets, end of year
$0
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$0
Program services expenses (Part IX)
$1,228,904
Management and general expenses
$172,971
Fundraising expenses
$0
Program service expenses (Part III)
$1,228,904

Program services were 87.7% 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.

  • 2a · Program service revenue: MONTHLY FEES

    total $723,511 · related or exempt $723,511

  • 2b · Program service revenue: ENTRANCE FEE AMORTIZAT

    total $220,519 · related or exempt $220,519

  • 2c · Program service revenue: MEDICAL SERVICES REVEN

    total $210,841 · related or exempt $210,841

  • 2d · Program service revenue: MEDICARE & MEDICAID

    total $176,610 · related or exempt $176,610

  • 2e · Program service revenue: RESIDENT ANCILLIARY RE

    total $117,963 · related or exempt $117,963

  • 2f · All other program service revenue

    total $1,200 · related or exempt $1,200

  • 3 · Investment income

    total $576 · excluded $576

  • 6a · Gross rents

    real property $5,325

  • 6b · Less rental expenses

    real property $2,227

  • 6c · Rental income or loss

    real property $3,098

  • 6d · Net rental income or loss

    total $3,098 · excluded $3,098

  • 11a · Other revenue: APARTMENT MODIFICATION

    total $2,259 · excluded $2,259

  • 11b · Other revenue: EMPLOYEE MEALS

    total $1,561 · excluded $1,561

  • 11c · Other revenue: GIFT SHOP

    total $1,449 · excluded $1,449

  • 11d · All other revenue

    total $1,556 · excluded $1,556

  • 11e · Other revenue, total

    $6,825

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $536,250 · program services $508,600 · management and general $27,650

  • 8 · Pension plan contributions

    total $10,783 · program services $9,874 · management and general $909

  • 9 · Other employee benefits

    total $73,927 · program services $73,927

  • 10 · Payroll taxes

    total $47,136 · program services $43,770 · management and general $3,366

  • 11c · Fees: accounting

    total $3,406 · management and general $3,406

  • 11g · Fees: other

    total $71,247 · program services $69,022 · management and general $2,225

  • 12 · Advertising and promotion

    total $12,985 · management and general $12,985

  • 13 · Office expenses

    total $63,592 · program services $48,214 · management and general $15,378

  • 14 · Information technology

    total $3,083 · management and general $3,083

  • 16 · Occupancy

    total $115,317 · program services $115,317

  • 17 · Travel

    total $2,409 · program services $2,220 · management and general $189

  • 20 · Interest

    total $80,478 · program services $80,478

  • 22 · Depreciation, depletion and amortization

    total $180,018 · program services $173,283 · management and general $6,735

  • 23 · Insurance

    total $19,331 · program services $18,970 · management and general $361

  • 24a · Other expenses: MANAGEMENT SERVICES

    total $96,193 · management and general $96,193

  • 24b · Other expenses: FOOD

    total $57,616 · program services $57,616

  • 24c · Other expenses: MEDICAL SUPPLIES

    total $12,211 · program services $12,211

  • 24d · Other expenses: PRIMARY CARE SERVICES

    total $7,380 · program services $7,380

  • 24e · All other expenses

    total $8,513 · program services $8,022 · management and general $491

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,000 · end of year $0

  • 2 · Savings and temporary cash investments

    beginning of year $1,457,603 · end of year $0

  • 3 · Pledges and grants receivable

    end of year $0

  • 4 · Accounts receivable

    beginning of year $1,527,020 · end of year $0

  • 5 · Loans and receivables from officers and key people

    end of year $0

  • 6 · Loans and receivables from disqualified persons

    end of year $0

  • 7 · Other notes and loans receivable

    end of year $0

  • 8 · Inventories for sale or use

    end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $191,378 · end of year $0

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

    $0

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $40,999,850 · end of year $0

  • 11 · Investments: publicly traded securities

    end of year $0

  • 12 · Investments: other securities

    beginning of year $1,105 · end of year $0

  • 13 · Investments: program-related

    beginning of year $312,539 · end of year $0

  • 14 · Intangible assets

    beginning of year $4,925,429 · end of year $0

  • 15 · Other assets

    beginning of year $806,114 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,185,790 · end of year $0

  • 19 · Deferred revenue

    beginning of year $24,221,439 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $5,017,274 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $16,800,919 · end of year $0

  • 25 · Other liabilities

    beginning of year $5,572,089 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year -$3,887,012 · end of year $0

  • 28 · Net assets with donor restrictions

    beginning of year $312,539 · end of year $0

Mission and programs · 2023

Mission

AS AN ACTS RETIREMENT-LIFE COMMUNITY, PRESBYTERIAN RETIREMENT CORPORATION, INC. IS COMMITTED TO PROVIDING SECURITY AND PEACE OF MIND TO SENIORS BY BEING THE PRE-EMINENT PROVIDER OF RETIREMENT-LIFE SERVICES, RESPONSIVE TO INDIVIDUAL, SOCIAL, PERSONAL, HEALTH AND SPIRITUAL NEEDS IN A CHRISTIAN ATMOSPHERE GRACED WITH LOVING-KINDNESS, DIGNITY, SENSITIVITY, HONESTY, AND RESPECT WITHOUT PREJUDICE OR PREFERENCE.

Activities or mission (Part I)

PRESBYTERIAN RETIREMENT CORPORATION'S PURPOSE IS TO SERVE OLDER ADULTS SIXTY-TWO YEARS OF AGE AND OLDER, PROVIDING RETIREMENT-LIFE SERVICES INCLUDING INDEPENDENT LIVING, ASSISTED LIVING, SKILLED NURSING CARE AND COMPLEMENTARY SERVICES; RESPONSIVE TO RESIDENT NEEDS IN A CHRISTIAN MANNER WITHOUT PREJUDICE OR PREFERENCE TO ANY FAITH, IN AN EXPRESSION OF LOVING KINDNESS.

  • PRESBYTERIAN RETIREMENT CORPORATION PROVIDED COMPREHENSIVE LIFE CARE SERVICES TO SENIOR ADULTS AGED 62 AND OLDER THAT INCLUDED INDEPENDENT LIVING HOUSING, DINING AND NUTRITIONAL SERVICES, PASTORAL SERVICES, SECURITY, HOUSEKEEPING, MAINTENANCE SERVICES AND SOCIAL, CULTURAL, EDUCATIONAL, SPIRITUAL AND RECREATIONAL ACTIVITIES. IN ADDITION, WHEN A RESIDENT'S HEALTH CARE NEEDS CHANGED, HOME HEALTH, ASSISTED LIVING, SKILLED NURSING CARE AND HOSPICE SERVICES WERE AVAILABLE. ALL PHYSICAL ACCOMMODATIONS AND SERVICES WERE PROVIDED UNDER THE TERMS OF A FORMAL LIFECARE AGREEMENT WHICH ALSO ASSURED THAT ASSISTED LIVING AND SKILLED NURSING CARE WERE PROVIDED TO RESIDENTS WHEN THEY NEEDED IT, WITHOUT A CHANGE IN THEIR MONTHLY FEE, THEREBY OFFERING FURTHER SECURITY AND PEACE OF MIND. IN JANUARY 2023, PRESBYTERIAN RETIREMENT CORPORATION SERVED, ON AVERAGE, 222 RESIDENTS IN INDEPENDENT LIVING, 13 IN ASSISTED LIVING AND 42 RESIDENTS IN SKILLED CARE.

    Expenses $1,228,904 · Revenue $1,450,644

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

Listed in Part VII

  • GERALD T GRANT

    CEO & CHAIRMAN

    Total calculated
    $0
    Hours/week
    1 + 54.1 related

  • KAREN I CHRISTIANSEN

    PRESIDENT & VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    1 + 54.1 related

  • JOHN L ESTERHAI JR MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3 + 4 related

  • MARVIN MASHNER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3 + 4.3 related

  • ROBERT B EVANS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 5.5 related

  • JOHN E LAMMERS MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • MICHAEL D KELLY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 2.5 related

  • GLENN D FOX

    SECRETARY

    Total calculated
    $0
    Hours/week
    5 + 45.1 related

  • GEORGE R BRYAN

    ASSISTANT SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 45 related

  • SUSAN AHERN

    TREASURER

    Total calculated
    $0
    Hours/week
    1 + 52.1 related

  • PEGGY C VALDIVIA

    ASSISTANT TREASURER

    Total calculated
    $0
    Hours/week
    0.5 + 48.6 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.

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.

Assets distributed on this return

Schedule N, as filed: what the organization did with its assets when it liquidated or dissolved, or disposed of more than a quarter of them, and who received them. A recipient with an EIN is usually a successor organization; filers also list expenses such as legal fees here.

Provenance

Return type
form_990
Tax year
2023
Filed
29 January 2024
IRS schema version
2023v4.0
Source object
202420309349300917

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