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Nonprofiteer
← METHODIST HOME FOR THE AGING

Form 990 for tax year 2023

Filed by METHODIST HOME FOR THE AGING.

Totals

Total revenue
$4,750,174
Total expenses
$4,653,229
Contributions and grants received
$49,309
Grants paid
$0
Program service revenue
$4,625,301
Investment income
$847
Other revenue
$74,717
Total assets, end of year
$14,396,288
Total liabilities, end of year
$6,858,899
Net assets or fund balances, end of year
$7,537,389
Program services expenses (Part IX)
$4,371,202
Management and general expenses
$282,027
Fundraising expenses
$0
Program service expenses (Part III)
$4,371,202

Program services were 93.9% 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.

  • 1f · All other contributions, gifts and grants

    $49,309

  • 2a · Program service revenue: PROGRAM SERVICE REVENU

    total $4,625,301 · related or exempt $4,625,301

  • 3 · Investment income

    total $847 · excluded $847

  • 11a · Other revenue: MISCELLANEOUS

    total $74,717 · related or exempt $74,717

  • 11e · Other revenue, total

    $74,717

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $1,682,978 · program services $1,682,978

  • 9 · Other employee benefits

    total $156,619 · program services $156,619

  • 10 · Payroll taxes

    total $125,054 · program services $125,054

  • 11a · Fees: management

    total $282,027 · management and general $282,027

  • 11g · Fees: other

    total $4,835 · program services $4,835

  • 12 · Advertising and promotion

    total $8,136 · program services $8,136

  • 13 · Office expenses

    total $22,153 · program services $22,153

  • 14 · Information technology

    total $31,400 · program services $31,400

  • 16 · Occupancy

    total $302,625 · program services $302,625

  • 22 · Depreciation, depletion and amortization

    total $467,294 · program services $467,294

  • 23 · Insurance

    total $588,347 · program services $588,347

  • 24a · Other expenses: OTHER ASSISTED LIVING E

    total $481,344 · program services $481,344

  • 24b · Other expenses: FINANCIAL FEES

    total $271,589 · program services $271,589

  • 24c · Other expenses: OPERATING AND MAINTENAN

    total $133,482 · program services $133,482

  • 24d · Other expenses: MORTGAGE INSURANCE PREM

    total $42,860 · program services $42,860

  • 24e · All other expenses

    total $52,486 · program services $52,486

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $574,213 · end of year $80,287

  • 2 · Savings and temporary cash investments

    beginning of year $166,930 · end of year $156,240

  • 4 · Accounts receivable

    beginning of year $28,660 · end of year $40,405

  • 8 · Inventories for sale or use

    beginning of year $7,369 · end of year $7,369

  • 9 · Prepaid expenses and deferred charges

    beginning of year $479,628 · end of year $398,947

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

    $15,311,356

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

    $3,355,833

  • 10c · Land, buildings and equipment, net

    beginning of year $12,294,446 · end of year $11,955,523

  • 15 · Other assets

    beginning of year $1,047,507 · end of year $1,757,517

  • 17 · Accounts payable and accrued expenses

    beginning of year $380,689 · end of year $345,400

  • 23 · Secured mortgages and notes payable

    beginning of year $6,327,762 · end of year $6,477,872

  • 25 · Other liabilities

    beginning of year $210,398 · end of year $35,627

  • 27 · Net assets without donor restrictions

    beginning of year $7,679,904 · end of year $7,537,389

Mission and programs · 2023

Mission

TO PROVIDE AFFORDABLE HOUSING TO THE ELDERLY AND HANDICAPPED.

Activities or mission (Part I)

TO PROVIDE AFFORDABLE HOUSING TO THE ELDERLY AND HANDICAPPED

  • A SEVENTY-FOUR UNIT ASSISTED LIVING FACILITY IN PANAMA CITY, FLORIDA FOR THE ELDERLY AND HANDICAPPED THAT PROVIDES AFFORDABLE HOUSING.

    Expenses $4,371,202 · Revenue $4,749,327

As filed on the 2023 return.

Listed in Part VII

  • Marsha D Clark

    CHAIR

    Total calculated
    $0
    Hours/week
    0

  • Jamie W Steele Jr

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    0

  • Maudine J Holloway

    SECRETARY

    Total calculated
    $0
    Hours/week
    0

  • Elizabeth M Huber

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • Robert L McKee III

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • Tommy W Peacock

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • Robert C Scales Sr

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • Samuel G Sumner

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • Christopher W Tomlin

    PRESIDENT & CEO

    Total calculated
    $417,254
    From this org
    $0
    From related orgs
    $417,254
    Other
    $0
    Hours/week
    1 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $417,254 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $417,254 related

  • Michael D Giles

    SENIOR VICE PRESIDENT & COO

    Total calculated
    $308,429
    From this org
    $0
    From related orgs
    $308,429
    Other
    $0
    Hours/week
    1 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $308,429 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $308,429 related

  • Cynthia L Wood

    MANAGEMENT

    Total calculated
    $100,733
    From this org
    $100,733
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

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 · Compensation committee
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 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

The filer's explanations (Part III)

PART I, LINE 3:
THE FINANCE COMMITTEE OF THE BOARD OF THE METHODIST HOME FOR THE AGING SHALL SET THE COMPENSATION FOR THE EXECUTIVE STAFF. THE EXECUTIVE STAFF SHALL RECOMMEND COMPENSATION FOR KEY EMPLOYEES AND STAFF AT ALL THE FACILITIES. THE RECOMMENDATIONS ARE REVIEWED, APPROVED OR MODIFIED BY THE FINANCE COMMITTEE. MATHISON REITREMENT COMMUNITY OFFICERS ARE NOT COMPENSATED. PART I, LINE 4B: CHRISTOPHER TOMLIN $22,500 IN NONQUALIFIED BENEFIT MIKE GILES $22,500 IN NONQUALIFIED BENEFIT

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.

Provenance

Return type
form_990
Tax year
2023
Filed
15 May 2025
IRS schema version
2023v6.0
Source object
202501359349313740

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