Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1d · Related organizations

  $20,164

• 1e · Government grants (contributions)

  $628,193

• 2a · Program service revenue: MONTHLY FEES

  total $7,843,144 · related or exempt $7,843,144

• 2b · Program service revenue: ENTRANCE FEE AMORTIZATION

  total $3,127,122 · related or exempt $3,127,122

• 2c · Program service revenue: MEDICAL SERVICES REVENUE

  total $2,327,612 · related or exempt $2,327,612

• 2d · Program service revenue: MEDICARE & MEDICAID

  total $1,537,430 · related or exempt $1,537,430

• 2e · Program service revenue: RESIDENT ANCILLIARY REVENUE

  total $971,835 · related or exempt $971,835

• 2f · All other program service revenue

  total $384,748 · related or exempt $384,748

• 3 · Investment income

  total $642 · excluded $642

• 6a · Gross rents

  real property $43,595

• 6b · Less rental expenses

  real property $18,593

• 6c · Rental income or loss

  real property $25,002

• 6d · Net rental income or loss

  total $25,002 · excluded $25,002

• 11a · Other revenue: APARTMENT MODIFICATION INCOME

  total $98,959 · excluded $98,959

• 11b · Other revenue: EMPLOYEE MEALS

  total $17,969 · excluded $17,969

• 11c · Other revenue: GIFT SHOP

  total $12,024 · excluded $12,024

• 11d · All other revenue

  total $9,617 · excluded $9,617

• 11e · Other revenue, total

  $138,569

Functional expenses

Part IX, the statement of functional expenses.

• 7 · Other salaries and wages

  total $7,252,081 · program services $6,879,819 · management and general $372,262

• 8 · Pension plan contributions

  total $118,579 · program services $100,795 · management and general $17,784

• 9 · Other employee benefits

  total $930,697 · program services $928,467 · management and general $2,230

• 10 · Payroll taxes

  total $541,714 · program services $503,537 · management and general $38,177

• 11b · Fees: legal

  total $63,020 · management and general $63,020

• 11c · Fees: accounting

  total $43,398 · management and general $43,398

• 11f · Fees: investment management

  total $14,577 · management and general $14,577

• 11g · Fees: other

  total $901,783 · program services $899,049 · management and general $2,734

• 12 · Advertising and promotion

  total $273,766 · program services $483 · management and general $273,283

• 13 · Office expenses

  total $683,089 · program services $538,676 · management and general $144,413

• 14 · Information technology

  total $37,000 · management and general $37,000

• 16 · Occupancy

  total $1,226,095 · program services $1,226,095

• 17 · Travel

  total $38,064 · program services $33,506 · management and general $4,558

• 20 · Interest

  total $952,060 · program services $952,060

• 22 · Depreciation, depletion and amortization

  total $2,082,023 · program services $1,986,591 · management and general $95,432

• 23 · Insurance

  total $160,004 · program services $155,582 · management and general $4,422

• 24a · Other expenses: MANAGEMENT SERVICES

  total $1,427,592 · management and general $1,427,592

• 24b · Other expenses: FOOD

  total $820,132 · program services $820,072 · management and general $60

• 24c · Other expenses: BAD DEBT

  total $306,831 · program services $306,831

• 24d · Other expenses: MEDICAL SUPPLIES

  total $197,254 · program services $197,254

• 24e · All other expenses

  total $302,706 · program services $275,376 · management and general $27,330

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $1,565 · end of year $2,000

• 2 · Savings and temporary cash investments

  beginning of year $471,437 · end of year $1,457,603

• 4 · Accounts receivable

  beginning of year $1,616,016 · end of year $1,527,020

• 9 · Prepaid expenses and deferred charges

  beginning of year $241,251 · end of year $191,378

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

  $49,873,668

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

  $8,873,818

• 10c · Land, buildings and equipment, net

  beginning of year $38,805,712 · end of year $40,999,850

• 12 · Investments: other securities

  beginning of year $150,756 · end of year $1,105

• 13 · Investments: program-related

  beginning of year $218,021 · end of year $312,539

• 14 · Intangible assets

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

• 15 · Other assets

  beginning of year $501,936 · end of year $806,114

• 17 · Accounts payable and accrued expenses

  beginning of year $1,688,675 · end of year $2,185,790

• 19 · Deferred revenue

  beginning of year $20,429,966 · end of year $24,221,439

• 20 · Tax-exempt bond liabilities

  beginning of year $5,013,812 · end of year $5,017,274

• 23 · Secured mortgages and notes payable

  beginning of year $17,302,068 · end of year $16,800,919

• 25 · Other liabilities

  beginning of year $4,802,605 · end of year $5,572,089

• 27 · Net assets without donor restrictions

  beginning of year -$2,523,024 · end of year -$3,887,012

• 28 · Net assets with donor restrictions

  beginning of year $218,021 · end of year $312,539

The filer's explanations (Part III)

PART I, LINE 1A

THE ORGANIZATION HAS AN ANNUAL BOARD OF DIRECTORS' EDUCATIONAL RETREAT NEAR ONE OR MORE OF THE ORGANIZATION'S COMMUNITIES, WHICH MAY REQUIRE SOME OR ALL BOARD MEMBERS TO TRAVEL. SPOUSES OF BOARD MEMBERS ARE ALSO INVITED TO ATTEND AT THE COMPANY'S EXPENSE. THESE SPOUSES PARTICIPATE IN EDUCATIONAL SESSIONS, SINCE THEY TOO HAVE AN INTEREST IN THE MISSION OF THE ORGANIZATION, FREQUENTLY BECOME INVOLVED IN DISCUSSION OF THEIR SPOUSE'S ROLE AND HOW THE ORGANIZATION FUNCTIONS, AND ALSO MUST PROVIDE ENABLING SUPPORT TO THE BOARD MEMBER. IN ADDITION, SPOUSES ALSO PROVIDE INSIGHT INTO THE EFFECTS OF ORGANIZATIONAL PLANS AND STRATEGIES. AS SUCH, THIS BENEFIT WAS NOT TREATED AS TAXABLE COMPENSATION.

PART I, LINE 3

IT HAS BEEN THE PRACTICE OF THE MANAGEMENT COMPANY, ACTS MANAGEMENT SERVICES, INC., TO UTILIZE AN INDEPENDENT COMPENSATION CONSULTANT ON AN APPROXIMATELY BIENNIAL BASIS FOR THE PURPOSE OF REVIEWING THE COMPENSATION PROGRAM FOR THE ORGANIZATION'S TOP MANAGEMENT POSITIONS, RANGING FROM COMMUNITY MANAGERS UP TO THE CEO. THE STUDY, THE LATEST VERSION OF WHICH WAS COMPLETED IN 2020, INCLUDES COMPARISON OF NOT-FOR-PROFIT AND FOR-PROFIT COMPETITORS, OPERATION EFFECTIVENESS, AND IDENTIFICATION OF INDUSTRY SPECIFIC TRENDS OR PRACTICES IN COMPENSATION OR RECRUITMENT/EMPLOYMENT. MEASUREMENT AND ACTION ARE GENERALLY FOCUSED AT THE MEDIAN LEVELS IDENTIFIED IN THE STUDY. THE REPORT'S FINDINGS ARE REVIEWED WITH THE PARENT BOARD OFFICERS. COMPENSATION ADJUSTMENTS FOR THE PRESIDENT & CEO ARE DETERMINED BY A COMMITTEE OF INDEPENDENT BOARD MEMBERS APPOINTED BY THE CHAIRMAN AND ARE BASED ON THE FINDINGS OF THE MOST RECENT STUDY AND A REVIEW OF PERFORMANCE COMPARED AGAINST OBJECTIVE CRITERIA. THIS DETERMINATION IS REPORTED TO AND APPROVED BY THE BOARD OF DIRECTORS, AND IS DOCUMENTED IN WRITING BY THE BOARD CHAIR. SIMILARLY, COMPENSATION ADJUSTMENTS FOR THE MOST SENIOR MEMBERS OF MANAGEMENT REFLECT STUDY FINDINGS AND PERFORMANCE MEASUREMENT AGAINST SPECIFIED CRITERIA AND ARE DETERMINED BY THE CEO AND REVIEWED WITH THE BOARD CHAIR.

PART I, LINE 4B

OTHER COMPENSATION FOR KAREN I. CHRISTIANSEN, GLENN D. FOX, AND GERALD T. GRANT INCLUDES ACCRUALS FOR A DEFERRED SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN. THE AMOUNT OF THE CURRENT YEAR ACCRUAL IS $182,251 FOR KAREN I. CHRISTIANSEN (NON-VESTED), $334,017 FOR GLENN D. FOX (NON-VESTED), AND $515,021 FOR GERALD T. GRANT (NON-VESTED).