Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: PATIENT SERVICE REVENUE

  total $1,524,222 · related or exempt $1,524,222

• 2b · Program service revenue: RENTAL INCOME

  total $40,293 · related or exempt $40,293

• 3 · Investment income

  total $46,650 · excluded $46,650

• 6a · Gross rents

  real property $20,347

• 6b · Less rental expenses

  real property $4,957

• 6c · Rental income or loss

  real property $15,390

• 6d · Net rental income or loss

  total $15,390 · excluded $15,390

• 7a · Gross sales of assets other than inventory

  other assets $1,114,286

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

  other assets $111,779

• 7c · Gain or loss

  other assets $1,002,507

• 7d · Net gain or loss

  total $1,002,507 · excluded $1,002,507

Functional expenses

Part IX, the statement of functional expenses.

• 11b · Fees: legal

  total $209,650 · management and general $209,650

• 11c · Fees: accounting

  total $40,998 · management and general $40,998

• 11g · Fees: other

  total $9,065 · program services $9,065

• 13 · Office expenses

  total $26,746 · program services $25,450 · management and general $1,296

• 14 · Information technology

  total $35,835 · program services $35,835

• 16 · Occupancy

  total $154,527 · program services $44,887 · management and general $109,640

• 17 · Travel

  total $216 · program services $216

• 20 · Interest

  total $1,369 · management and general $1,369

• 22 · Depreciation, depletion and amortization

  total $175,079 · management and general $175,079

• 24a · Other expenses: ALLOCATED PAYROLL AND B

  total $1,326,521 · program services $1,163,474 · management and general $163,047

• 24b · Other expenses: ALLOCATION OF FRINGE BE

  total $341,564 · program services $293,089 · management and general $48,475

• 24c · Other expenses: ALLOCATION OF ADMIN & S

  total $312,539 · program services $254,410 · management and general $58,129

• 24d · Other expenses: BAD DEBT EXPENSE

  total $39,066 · management and general $39,066

• 24e · All other expenses

  total $13,088 · program services $9,804 · management and general $3,284

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $1,200 · end of year $1,200

• 2 · Savings and temporary cash investments

  beginning of year $27,903 · end of year $105,026

• 4 · Accounts receivable

  beginning of year $217,626 · end of year $0

• 9 · Prepaid expenses and deferred charges

  beginning of year $1,500 · end of year $9,576

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

  $9,281,646

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

  $6,956,074

• 10c · Land, buildings and equipment, net

  beginning of year $2,128,883 · end of year $2,325,572

• 11 · Investments: publicly traded securities

  beginning of year $19,040 · end of year $0

• 15 · Other assets

  beginning of year $4,179,895 · end of year $5,401,335

• 17 · Accounts payable and accrued expenses

  beginning of year $429,756 · end of year $538,895

• 19 · Deferred revenue

  beginning of year $87,499 · end of year $87,499

• 21 · Escrow or custodial account liability

  beginning of year $0 · end of year $8,910

• 25 · Other liabilities

  beginning of year $1,817,859 · end of year $1,436,217

• 27 · Net assets without donor restrictions

  beginning of year $4,240,933 · end of year $5,771,188

• 28 · Net assets with donor restrictions

  beginning of year $0 · end of year $0

The filer's explanations (Part III)

PART I, LINE 3

COMPENSATION FOR THE PRESIDENT/CEO IS DETERMINED BY THE WARTBURG HOME OF THE EVANGELICAL LUTHERAN CHURCH. THE WARTBURG ALIGNS ITS COMPENSATION PHILOSOPHY WITH THE OVERALL MISSION AND BUSINESS STRATEGY OF THE ORGANIZATION. EMPLOYEES ARE COMPENSATED FAIRLY WITHOUT REGARD TO AGE, SEX, RACE, COLOR, RELIGION, CREED, NATIONAL ORIGIN, DISABILITY (INCLUDING PREGNANCY DISABILITY), VETERAN OR MILITARY STATUS, MARITAL STATUS, SEXUAL ORIENTATION, CITIZENSHIP STATUS, IN ACCORDANCE WITH ALL APPLICABLE LAWS AND REGULATIONS, AND AS OUTLINED IN HUMAN RESOURCE POLICY. THE COMPENSATION PHILOSOPHY IS DESIGNED TO PROVIDE COMPETITIVE COMPENSATION POSITIONING COMPARED TO PEER GROUPS/OTHER HEALTHCARE ORGANIZATIONS SIMILAR IN SIZE AND PROGRAM OFFERING. IT CONSIDERS EXTERNAL MARKET DATA AGAINST INTERNAL STRUCTURE, RECOGNIZES THE UNIQUE RELATIVE VALUE OF EACH FUNCTION, REWARDS, INDIVIDUAL PERFORMANCE, WHILE BEING FINANCIALLY SUSTAINABLE OVER TIME. IT IS REVIEWED ON AN AS NEEDED BASIS BY WARTBURG'S PERSONNEL & COMPENSATION COMMITTEE OF THE BOARD AND IS SUBJECT TO SUCH BUDGETARY CONSIDERATIONS AS BUSINESS CONDITIONS MAY CREATE. THE WARTBURG HAS ENGAGED THE SERVICES OF ASTRON SOLUTIONS, A NATIONAL EMPLOYEE COMPENSATION AND BENEFITS FIRM, TO REVIEW EXECUTIVE AND SENIOR MANAGEMENT COMPENSATION. DATA USED IN DETERMINING MARKET MID RANGE IS DERIVED FROM REPORTS ISSUED BY ASTRON USING REPUTABLE TOP-TIER SURVEY HOUSES AS WELL AS LOCAL, INDUSTRY, AND ASSOCIATION SPECIFIC SOURCES. WORLD AT WORK STANDARDS ARE FOLLOWED IN THE SELECTION AND USE OF THE COMPENSATION SURVEYS TO ASSURE RELIABILITY AND VALIDITY OF DATA SOURCES. IN ADDITION, MARKET DATA IS MATCHED AGAINST JOB CONTENT AND DESCRIPTIONS, NOT JOB TITLES, AND BY THE USE OF WARTBURG'S JOB FACTOR ANALYSIS TOOL. EXEMPTION DECISIONS ARE MADE IN ACCORDANCE WITH FAIR LABOR STANDARD ACT REQUIREMENTS. IT IS OUR ORGANIZATION'S DESIRE TO PAY A COMPETITIVE BASE SALARY ALIGNED TO MARKET VALUE AND TO OFFER A COMPENSATION PACKAGE WHICH INTEGRATES OTHER TOTAL COMPENSATION OFFERINGS SUCH AS PAID TIME OFF, HEALTH COVERAGE, TUITION REIMBURSEMENT, ETC. "COMPETITIVE" IS DEFINED AS MARKET 50TH PERCENTILE. MARKET PARITY/MID RANGE DECISIONS ARE BASED ON FACTORS SUCH AS EDUCATION, SUBJECT EXPERTISE, LEVEL OF PERFORMANCE, AS WELL AS LEVEL OF STRATEGIC IMPACT/VALUE TO THE LONG-TERM GOALS OF THE ORGANIZATION. AS BUSINESS CONDITIONS WARRANT AND BASED ON THE STRATEGIC NEEDS OF THE ORGANIZATION, WITH BOARD APPROVAL, AN EMPLOYEE'S BASE SALARY MAY BE SUPPLEMENTED WITH INCENTIVE-BASED PAY AND/OR OTHER TOTAL COMPENSATION ARRANGEMENTS.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

• FRIEDRICHS SUPPORTIVE HOUSING LLC

  RELATED · APARTMENT COMPLEX FOR LOW-INCOME SENIORS · NY

  Directly controlled by FRIEDRICHS HOUSING MM INC

Related corporations and trusts

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

• FRIEDRICHS HOUSING MM INC

  C · MANAGING MEMBER OF FRIEDRICHS SUPPORTIVE HOUSING LLC · NY · 100% owned · controlled entity

  Directly controlled by THE WARTBURG RESIDENTIAL COMMUNITY INC

• WARTBURG FRIEDRICHS HOUSING DEVELOPMENT FUND CORPORATION

  C · DEVELOP A NONPROFIT HOUSING PROJECT FOR PERSONS OF LOW INCOME · NY · 100% owned · controlled entity

  Directly controlled by THE WARTBURG RESIDENTIAL COMMUNITY INC

• WARTBURG MLTC

  C · PERFORM STUDIES, SURVEYS AND PLANNING FOR DEVELOPMENT OF MANAGED LT CARE · NY

  Directly controlled by WARTBURG MT VERNON INC