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Nonprofiteer
← BSLC II

Form 990 for tax year 2022

Filed by BSLC II.

Totals

Total revenue
$33,603,085
Total expenses
$31,049,210
Contributions and grants received
$213,679
Grants paid
$7,530
Program service revenue
$33,126,625
Investment income
$161,617
Other revenue
$101,164
Total assets, end of year
$102,535,199
Total liabilities, end of year
$92,484,253
Net assets or fund balances, end of year
$10,050,946
Program services expenses (Part IX)
$30,383,715
Management and general expenses
$665,495
Fundraising expenses
$0
Program service expenses (Part III)
$30,383,715

Program services were 97.9% 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.

  • 1e · Government grants (contributions)

    $206,179

  • 1f · All other contributions, gifts and grants

    $7,500

  • 2a · Program service revenue: Assisted Living

    total $32,410,457 · related or exempt $32,410,457

  • 2b · Program service revenue: Community Fees

    total $716,168 · related or exempt $716,168

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $309,815 · excluded $309,815

  • 6a · Gross rents

    real property $19,105

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $19,105 · personal property $0

  • 6d · Net rental income or loss

    total $19,105 · excluded $19,105

  • 7a · Gross sales of assets other than inventory

    securities $2,119,765 · other assets $0

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

    securities $2,261,214 · other assets $6,749

  • 7c · Gain or loss

    securities -$141,449 · other assets -$6,749

  • 7d · Net gain or loss

    total -$148,198 · excluded -$148,198

  • 11a · Other revenue: Misc income

    total $82,059 · related or exempt $82,059

  • 11b · Other revenue

    total $0 · related or exempt $0

  • 11c · Other revenue

    total $0 · related or exempt $0

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $82,059

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $7,530 · program services $7,530

  • 4 · Benefits paid to or for members

    total $0 · program services $0

  • 7 · Other salaries and wages

    total $13,981,993 · program services $13,981,993

  • 8 · Pension plan contributions

    total $180,678 · program services $180,678

  • 9 · Other employee benefits

    total $874,920 · program services $874,920

  • 10 · Payroll taxes

    total $1,092,348 · program services $1,092,348

  • 11a · Fees: management

    total $506,479 · management and general $506,479

  • 11b · Fees: legal

    total $62,195 · program services $62,195

  • 11c · Fees: accounting

    total $23,260 · management and general $23,260

  • 11f · Fees: investment management

    total $24,748 · management and general $24,748

  • 11g · Fees: other

    total $1,170,094 · program services $1,156,222 · management and general $13,872 · fundraising $0

  • 12 · Advertising and promotion

    total $603,632 · program services $603,632

  • 13 · Office expenses

    total $2,845,105 · program services $2,843,158 · management and general $1,947

  • 14 · Information technology

    total $144,257 · program services $144,257

  • 16 · Occupancy

    total $2,844,568 · program services $2,809,930 · management and general $34,638

  • 17 · Travel

    total $71,178 · program services $71,060 · management and general $118

  • 19 · Conferences, conventions and meetings

    total $46,382 · program services $46,382

  • 20 · Interest

    total $1,829,696 · program services $1,829,696

  • 22 · Depreciation, depletion and amortization

    total $3,393,726 · program services $3,371,126 · management and general $22,600

  • 23 · Insurance

    total $1,224,699 · program services $1,213,639 · management and general $11,060

  • 24a · Other expenses: Dues, Licenses, Fees

    total $66,956 · program services $66,617 · management and general $339

  • 24b · Other expenses: Bad Debt

    total $28,332 · program services $28,332

  • 24c · Other expenses: Bond Admin Fees

    total $26,434 · management and general $26,434

  • 24e · All other expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $64,572 · end of year $751,912

  • 2 · Savings and temporary cash investments

    beginning of year $75,567 · end of year $100,403

  • 4 · Accounts receivable

    beginning of year $225,657 · end of year $363,735

  • 5 · Loans and receivables from officers and key people

    end of year $0

  • 6 · Loans and receivables from disqualified persons

    end of year $0

  • 8 · Inventories for sale or use

    beginning of year $42,999 · end of year $33,394

  • 9 · Prepaid expenses and deferred charges

    beginning of year $329,614 · end of year $121,755

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

    $86,408,362

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

    $51,978,719

  • 10c · Land, buildings and equipment, net

    beginning of year $36,708,219 · end of year $34,429,643

  • 11 · Investments: publicly traded securities

    beginning of year $3,699,165 · end of year $3,190,973

  • 12 · Investments: other securities

    beginning of year $676,138 · end of year $1,135,360

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $58,556,867 · end of year $62,408,024

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,384,175 · end of year $1,318,789

  • 19 · Deferred revenue

    beginning of year $347,151 · end of year $242,776

  • 20 · Tax-exempt bond liabilities

    beginning of year $91,725,779 · end of year $90,392,450

  • 22 · Loans and payables to officers and key people

    end of year $0

  • 25 · Other liabilities

    beginning of year $0 · end of year $530,238

  • 27 · Net assets without donor restrictions

    beginning of year $6,921,693 · end of year $10,050,946

Mission and programs · 2022

Mission

To serve seniors by enriching their physical, emotional, and spiritual health in a nurturing environment at our communities. Our Vision: To expand outreach and service to as many communities as God wills through expansion, acquisition, management contracts, and programming.

Activities or mission (Part I)

To serve seniors by enriching their physical, emotional and spiritual health in our communities.

  • Development and operation of tax exempt assisted living communities, independent living communities, and memory care facilities for seniors in Colorado, Texas, and Missouri. Cared for an average of 654 residents during the fiscal year ended 9/30/2023.

    Expenses $30,383,715 · Grants $7,530 · Revenue $33,208,684

As filed on the 2022 return.

Listed in Part VII

  • Dana Rasic

    President & Director

    Total calculated
    $406,351
    From this org
    $0
    From related orgs
    $365,551
    Other
    $40,800
    Hours/week
    10 + 53 related

    Schedule J breakdown matched by us

    Base
    $0 + $329,316 related
    Bonus
    $0 + $30,000 related
    Other
    $0 + $6,235 related
    Deferred
    $0 + $9,438 related
    Nontaxable benefits
    $0 + $31,362 related
    Filer's total
    $0 + $406,351 related

  • Jenny Kennedy

    Secretary & Director

    Total calculated
    $11,988
    From this org
    $0
    From related orgs
    $11,988
    Other
    $0
    Hours/week
    1.5 + 5 related

  • Nathan Merrill

    CFO, Treasurer & Director

    Total calculated
    $306,740
    From this org
    $0
    From related orgs
    $264,356
    Other
    $42,384
    Hours/week
    10 + 47.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $230,731 related
    Bonus
    $0 + $20,000 related
    Other
    $0 + $13,625 related
    Deferred
    $0 + $7,962 related
    Nontaxable benefits
    $0 + $34,422 related
    Filer's total
    $0 + $306,740 related

  • Rick Summers

    Vice President & Director

    Total calculated
    $278,003
    From this org
    $0
    From related orgs
    $258,044
    Other
    $19,959
    Hours/week
    20 + 35 related

    Schedule J breakdown matched by us

    Base
    $0 + $241,475 related
    Bonus
    $0 + $12,000 related
    Other
    $0 + $4,569 related
    Deferred
    $0 + $7,217 related
    Nontaxable benefits
    $0 + $12,742 related
    Filer's total
    $0 + $278,003 related

  • Dale Turner

    Director

    Total calculated
    $65,316
    From this org
    $2,375
    From related orgs
    $59,458
    Other
    $3,483
    Hours/week
    2 + 8.5 related

  • Daniel Vagle

    Director

    Total calculated
    $65,442
    From this org
    $0
    From related orgs
    $61,833
    Other
    $3,609
    Hours/week
    2 + 6.8 related

  • Don Morgan

    Director

    Total calculated
    $65,218
    From this org
    $0
    From related orgs
    $61,833
    Other
    $3,385
    Hours/week
    2 + 7.8 related

  • Larry Smith

    Director

    Total calculated
    $30,761
    From this org
    $0
    From related orgs
    $30,667
    Other
    $94
    Hours/week
    3 + 9 related

  • Austin Harbach

    Assistant Secretary

    Total calculated
    $118,551
    From this org
    $0
    From related orgs
    $103,942
    Other
    $14,609
    Hours/week
    12 + 44.5 related

  • Tom Workman

    Assistant Secretary

    Total calculated
    $0
    Hours/week
    1 + 3.8 related

  • Joshua Thomas

    VP of Strategy & Development

    Total calculated
    $192,039
    From this org
    $0
    From related orgs
    $166,654
    Other
    $25,385
    Hours/week
    22.5 + 22.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $155,745 related
    Bonus
    $0 + $10,000 related
    Other
    $0 + $909 related
    Deferred
    $0 + $5,342 related
    Nontaxable benefits
    $0 + $20,043 related
    Filer's total
    $0 + $192,039 related

  • Andrew McCormick

    Regional Director of Operations

    Total calculated
    $171,129
    From this org
    $0
    From related orgs
    $142,696
    Other
    $28,433
    Hours/week
    22.5 + 22.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $135,994 related
    Bonus
    $0 + $4,032 related
    Other
    $0 + $2,670 related
    Deferred
    $0 + $4,539 related
    Nontaxable benefits
    $0 + $23,894 related
    Filer's total
    $0 + $171,129 related

  • Bryan Beamer

    VP Construction

    Total calculated
    $135,732
    From this org
    $0
    From related orgs
    $130,714
    Other
    $5,018
    Hours/week
    22.5 + 22.5 related

  • Kris Gillen

    VP of Sales & Marketing

    Total calculated
    $180,432
    From this org
    $0
    From related orgs
    $174,251
    Other
    $6,181
    Hours/week
    22.5 + 22.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $160,073 related
    Bonus
    $0 + $13,685 related
    Other
    $0 + $493 related
    Deferred
    $0 + $5,090 related
    Nontaxable benefits
    $0 + $1,091 related
    Filer's total
    $0 + $180,432 related

  • Kristen Jacoby

    Regional Director of Operations

    Total calculated
    $144,250
    From this org
    $0
    From related orgs
    $139,275
    Other
    $4,975
    Hours/week
    22.5 + 22.5 related

  • Michelle Ingerson

    VP Health Services (part year)

    Total calculated
    $178,457
    From this org
    $0
    From related orgs
    $162,335
    Other
    $16,122
    Hours/week
    22.5 + 22.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $155,432 related
    Bonus
    $0 + $6,585 related
    Other
    $0 + $318 related
    Deferred
    $0 + $4,919 related
    Nontaxable benefits
    $0 + $11,203 related
    Filer's total
    $0 + $178,457 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. 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

None.

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

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.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

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

  • Bethesda Real Estate Company

    C Corporation · Real Estate Mgmt · CO

    Directly controlled by NA

Provenance

Return type
form_990
Tax year
2022
Filed
15 August 2024
IRS schema version
2022v5.0
Source object
202432289349303593

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