Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: RESIDENT SERVICES

  total $36,767,203 · related or exempt $36,767,203

• 3 · Investment income

  total $419,077 · excluded $419,077

• 7a · Gross sales of assets other than inventory

  securities $1,000,000 · other assets $31,624

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

  securities $1,115,494 · other assets $209,552

• 7c · Gain or loss

  securities -$115,494 · other assets -$177,928

• 7d · Net gain or loss

  total -$293,422 · excluded -$293,422

• 10a · Gross sales of inventory

  $5,472

• 10b · Cost of goods sold

  $464

• 10c · Net income from sales of inventory

  total $5,008 · excluded $5,008

Functional expenses

Part IX, the statement of functional expenses.

• 7 · Other salaries and wages

  total $11,536,619 · program services $9,338,064 · management and general $2,198,555

• 8 · Pension plan contributions

  total $385,797 · program services $326,873 · management and general $58,924

• 9 · Other employee benefits

  total $1,275,003 · program services $777,573 · management and general $497,430

• 10 · Payroll taxes

  total $790,893 · program services $685,298 · management and general $105,595

• 11a · Fees: management

  total $1,898,648 · management and general $1,898,648

• 11b · Fees: legal

  total $91,996 · management and general $91,996

• 11c · Fees: accounting

  total $37,949 · management and general $37,949

• 11f · Fees: investment management

  total $16,223 · management and general $16,223

• 11g · Fees: other

  total $186,987 · program services $109,038 · management and general $77,949

• 12 · Advertising and promotion

  total $777,206 · program services $777,206

• 13 · Office expenses

  total $214,106 · program services $139,132 · management and general $74,974

• 14 · Information technology

  total $349,656 · management and general $349,656

• 16 · Occupancy

  total $4,965,953 · program services $4,748,222 · management and general $217,731

• 17 · Travel

  total $26,780 · program services $11,519 · management and general $15,261

• 20 · Interest

  total $2,927,531 · program services $2,873,746 · management and general $53,785

• 22 · Depreciation, depletion and amortization

  total $4,442,637 · program services $3,998,374 · management and general $444,263

• 23 · Insurance

  total $1,589,079 · program services $1,430,171 · management and general $158,908

• 24a · Other expenses: FOOD COSTS

  total $1,926,733 · program services $1,926,733

• 24b · Other expenses: OTHER SUPPLIES

  total $515,585 · program services $509,778 · management and general $5,807

• 24c · Other expenses: MAINTENANCE SUPPLIES

  total $133,466 · program services $133,466

• 24d · Other expenses: OTHER NONOPERATING

  total $120,242 · management and general $120,242

• 24e · All other expenses

  total $362,430 · program services $129,290 · management and general $233,140

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $4,724 · end of year $13,692

• 2 · Savings and temporary cash investments

  beginning of year $2,478,032 · end of year $3,129,891

• 4 · Accounts receivable

  beginning of year $205,214 · end of year $284,148

• 8 · Inventories for sale or use

  beginning of year $124,273 · end of year $128,601

• 9 · Prepaid expenses and deferred charges

  beginning of year $502,656 · end of year $539,553

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

  $132,609,175

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

  $72,539,342

• 10c · Land, buildings and equipment, net

  beginning of year $61,819,901 · end of year $60,069,833

• 11 · Investments: publicly traded securities

  beginning of year $9,962,974 · end of year $11,773,822

• 15 · Other assets

  beginning of year $10,911,746 · end of year $10,091,788

• 17 · Accounts payable and accrued expenses

  beginning of year $1,615,632 · end of year $2,222,406

• 19 · Deferred revenue

  beginning of year $184,574 · end of year $102,714

• 23 · Secured mortgages and notes payable

  beginning of year $91,095,733 · end of year $89,385,641

• 25 · Other liabilities

  beginning of year $346,089 · end of year $509,760

• 27 · Net assets without donor restrictions

  beginning of year -$8,345,269 · end of year -$6,922,374

• 28 · Net assets with donor restrictions

  beginning of year $1,112,761 · end of year $733,181

The filer's explanations (Part III)

PART I, LINE 3

LAWRENCE G SCHREIBER IS THE CHIEF EXECUTIVE OFFICER (CEO) OF NORTH FLORIDA RETIREMENT VILLAGE, INC. MR. SCHREIBER IS COMPENSATED BY SANTAFE HEALTHCARE, INC., A RELATED SUPPORTING ORGANIZATION. SANTAFE HEALTHCARE, INC. UTILIZES THE FOLLOWING PROCESS TO ESTABLISH THE CEO'S COMPENSATION AND BENEFITS: THE SANTAFE HEALTHCARE, INC. BOARD OF DIRECTORS ANNUALLY RETAINS AN INDEPENDENT THIRD PARTY COMPENSATION AND BENEFITS CONSULTING FIRM (FIRM) TO CONDUCT A MARKET COMPETITIVENESS REVIEW OF THE CEO'S TOTAL DIRECT COMPENSATION (BASE SALARY, ANNUAL INCENTIVES, AND LONG TERM INCENTIVES) AND BENEFITS. THE COMPETITIVE ANALYSIS INCLUDES COMPARISON TO SIMILAR POSITIONS IN COMPANIES OF SIMILAR SIZE WITHIN THE SAME OR SIMILAR INDUSTRY. THE FIRM MAKES RECOMMENDATIONS, IF ANY, DIRECTLY TO THE BOARD OF DIRECTORS. THE BOARD OF DIRECTORS ESTABLISHES THE FINAL COMPENSATION AND BENEFIT PACKAGE FOR THE CEO TAKING INTO CONSIDERATION THE MARKET COMPETITIVENESS REVIEW AND FINAL RECOMMENDATION OF THE FIRM. THE FIRM PROVIDES AN OPINION LETTER REGARDING THE REASONABLENESS OF THE FINAL COMPENSATION AND BENEFITS PACKAGE. THE ACTIONS OF THE BOARD ARE DOCUMENTED IN THE MINUTES OF THE BOARD MEETING.

PART I, LINE 4B

(RELATES TO PART I, LINE 4A): LISTED PERSONS, EXCLUDING OUTSIDE DIRECTORS, ARE EMPLOYEES OF NORTH FLORIDA RETIREMENT VILLAGE, INC. OR RELATED ORGANIZATIONS AND ARE COVERED BY A SEVERANCE POLICY FOR THEIR RESPECTIVE ORGANIZATION. THE SEVERANCE POLICY INCLUDES MONTHLY PAYMENTS UP TO A MAXIMUM OF 3 - 36 MONTHS UNDER QUALIFYING CIRCUMSTANCES AND DEPENDING ON POSITION. NO ONE LISTED RECEIVED SEVERANCE OR CHANGE OF CONTROL PAYMENTS DURING 2023. PART I, LINE 4B: LISTED PERSONS PARTICIPATING IN A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN IN THE YEAR: LAWRENCE G SCHREIBER, PHILIP G BOWLING, STEVEN M ZIEGLER, AND RONALD E JENNETTE ARE EMPLOYEES OF SANTAFE HEALTHCARE, INC., A RELATED SUPPORTING ORGANIZATION. THEY PARTICIPATE IN TWO NONQUALIFIED DEFERRED COMPENSATION RETIREMENT PLANS SPONSORED BY SANTAFE HEALTHCARE, INC. FOR A CERTAIN GROUP OF EXECUTIVES. ONE PLAN RESTORES RETIREMENT BENEFITS EQUIVALENT TO QUALIFIED 401(K) BENEFITS ON INCOME EARNED IN EXCESS OF THE INTERNAL REVENUE SERVICE CODE SECTION 401(A)(17) RECOGNIZABLE PAY LIMITS (A DEFINED CONTRIBUTION RESTORATION PLAN). VESTING FOR THIS PLAN IS ACHIEVED AT AGE 55 AND 10 YEARS OF SERVICE OR AT AGE 65 AND 5 YEARS OF SERVICE. THE SECOND SUPPLEMENTAL DEFINED CONTRIBUTION PLAN PROVIDES ADDITIONAL RETIREMENT INCOME BASED ON A PERCENTAGE OF BASE SALARY AND VESTS AT THREE AND FIVE YEARS OF SERVICE.

SCHEDULE J, PART II:

CERTAIN SENIOR EXECUTIVES ARE ACCOUNTABLE FOR AND PERFORM SERVICES FOR SANTAFE HEALTHCARE, INC. AND EACH OF ITS AFFILIATES. SANTAFE HEALTHCARE, INC. AND AFFILIATES REPRESENT A DIVERSIFIED FAMILY OF NOT-FOR-PROFIT ORGANIZATIONS. THESE SENIOR EXECUTIVES ARE PAID DIRECTLY BY SANTAFE HEALTHCARE, INC., AND THEIR COMPENSATION AND BENEFITS ARE APPORTIONED AND CHARGED TO THE RESPECTIVE AFFILIATES BASED ON THE ESTIMATED AMOUNT OF TIME SPENT ON EACH AFFILIATE'S ACTIVITIES.

Related corporations and trusts

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

• SF HOLDING CORP INC

  C · HOLDING COMPANY · FL