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Nonprofiteer
← EPISCOPAL RETIREMENT SERVICES FOUNDATION

Form 990 for tax year 2023

Filed by EPISCOPAL RETIREMENT SERVICES FOUNDATION.

Totals

Total revenue
$2,963,522
Total expenses
$4,424,388
Contributions and grants received
$2,342,675
Grants paid
$4,008,618
Program service revenue
$0
Investment income
$379,436
Other revenue
$241,411
Total assets, end of year
$58,026,140
Total liabilities, end of year
$67,103
Net assets or fund balances, end of year
$57,959,037
Program services expenses (Part IX)
$4,424,388
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$4,424,388

Program services were 100.0% 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.

  • 1c · Fundraising events

    $11,552

  • 1f · All other contributions, gifts and grants

    $2,331,123

  • 1g · Noncash contributions included above

    $19,295

  • 3 · Investment income

    total $379,436 · excluded $379,436

  • 8a · Fundraising events: gross income

    $290,816

  • 8a · Fundraising events: contributions included on line 1c

    $11,552

  • 8b · Fundraising events: direct expenses

    $49,405

  • 8c · Net income from fundraising events

    total $241,411 · excluded $241,411

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $4,008,618 · program services $4,008,618

  • 24a · Other expenses: OPERATING EXPENSES

    total $415,770 · program services $415,770

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,589,171 · end of year $2,543,207

  • 3 · Pledges and grants receivable

    beginning of year $163,717 · end of year $239,136

  • 11 · Investments: publicly traded securities

    beginning of year $26,454,468 · end of year $28,475,678

  • 15 · Other assets

    beginning of year $23,953,960 · end of year $26,768,119

  • 25 · Other liabilities

    beginning of year $71,724 · end of year $67,103

  • 27 · Net assets without donor restrictions

    beginning of year $24,451,280 · end of year $26,144,858

  • 28 · Net assets with donor restrictions

    beginning of year $28,638,312 · end of year $31,814,179

Mission and programs · 2023

Mission

THE EXCLUSIVE PURPOSE FOR WHICH EPISCOPAL RETIREMENT SERVICES FOUNDATION WAS FORMED IS TO SOLICIT, RECEIVE, ACQUIRE, HOLD, MONITOR AND INVEST MONEY AND OTHER REAL AND PERSONAL PROPERTY AND, FROM TIME TO TIME, DISBURSE THE SAME AND/OR THE INCOME THEREFROM TO EPISCOPAL RETIREMENT SERVICES (ERS) AND/OR OTHER ORGANIZATIONS THAT ERS IS A MEMBER OF, INCLUDING, BUT NOT LIMITED TO, EPISCOPAL RETIREMENT HOMES, INC., EPISCOPAL RETIREMENT SERVICES DEVELOPMENT, LLC, AND EPISCOPAL RETIREMENT HOMES AFFORDABLE LIVING LLC, AND ALL AFFILIATES OF WHICH IT IS A MEMBER.

Activities or mission (Part I)

THE EXCLUSIVE PURPOSE FOR WHICH EPISCOPAL RETIREMENT SERVICES FOUNDATION WAS FORMED IS TO SOLICIT, RECEIVE, ACQUIRE, HOLD, MONITOR AND INVEST MONEY AND OTHER REAL AND PERSONAL PROPERTY AND, FROM TIME TO TIME, DISBURSE THE SAME AND/OR THE INCOME THEREFROM TO EPISCOPAL RETIREMENT HOMES, INC., AN ORGANIZATION EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE IRC OF 1986 AS AMENDED AND AS FURTHER DESCRIBED IN SECTION 509(A)(1) OF SAID CODE.

  • THE EPISCOPAL RETIREMENT SERVICES FOUNDATION (ERSF) HAS BEEN SUCCESSFUL IN SOLICITING, RECEIVING AND INVESTING FUNDS FOR THE SUPPORT OF EPISCOPAL RETIREMENT SERVICES (ERS) AND EPISCOPAL RETIREMENT HOMES, INC. (ERH). THIS HAS ENABLED ERS AND ERH TO CONTINUE OPERATING AND DEVELOPING SENIOR HOUSING FOR THE COMMUNITY IN CONTINUING CARE RETIREMENT COMMUNITIES, AFFORDABLE SUBSIDIZED HOUSING, COMMUNITY SERVICES, MEALS ON WHEELS AND PARISH HEALTH MINISTRY.

    Expenses $4,424,388 · Grants $4,008,618

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • LAURA LAMB

    DIRECTOR/PRESIDENT/CEO

    Total calculated
    $595,486
    From this org
    $0
    From related orgs
    $518,728
    Other
    $76,758
    Hours/week
    10 + 30 related

    Schedule J breakdown matched by us

    Base
    $0 + $431,352 related
    Bonus
    $0 + $78,376 related
    Other
    $0 + $9,000 related
    Deferred
    $0 + $38,118 related
    Nontaxable benefits
    $0 + $38,640 related
    Filer's total
    $0 + $595,486 related

  • JOANN HAGOPIAN

    CHAIR

    Total calculated
    $0
    Hours/week
    0.2 + 0.6 related

  • JON B BOSS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2

  • TONY BRUNS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2

  • TOM COOPER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2 + 0.6 related

  • ROY MITCHELL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2

  • APRYL POPE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2 + 0.2 related

  • TOM REGAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2 + 0.6 related

  • CHIP WORKMAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2 + 0.6 related

  • DANIEL STEWARD

    CFO/TREASURER/SECRETARY

    Total calculated
    $287,648
    From this org
    $0
    From related orgs
    $252,506
    Other
    $35,142
    Hours/week
    10 + 30 related

    Schedule J breakdown matched by us

    Base
    $0 + $232,787 related
    Bonus
    $0 + $19,719 related
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $35,142 related
    Filer's total
    $0 + $287,648 related

  • JOAN WETZEL

    VP, HR & ORG. DEV.

    Total calculated
    $205,205
    From this org
    $0
    From related orgs
    $169,067
    Other
    $36,138
    Hours/week
    10 + 30 related

    Schedule J breakdown matched by us

    Base
    $0 + $151,670 related
    Bonus
    $0 + $17,397 related
    Other
    $0
    Deferred
    $0 + $3,508 related
    Nontaxable benefits
    $0 + $32,630 related
    Filer's total
    $0 + $205,205 related

  • BEVERLY EDWARDS

    VP, HEALTH SERVICES

    Total calculated
    $206,193
    From this org
    $0
    From related orgs
    $202,734
    Other
    $3,459
    Hours/week
    10 + 30 related

    Schedule J breakdown matched by us

    Base
    $0 + $180,720 related
    Bonus
    $0 + $22,014 related
    Other
    $0
    Deferred
    $0 + $3,139 related
    Nontaxable benefits
    $0 + $320 related
    Filer's total
    $0 + $206,193 related

  • BRYAN REYNOLDS

    VP MARKETING (UNTIL 12/29/23)

    Total calculated
    $179,040
    From this org
    $0
    From related orgs
    $141,924
    Other
    $37,116
    Hours/week
    10 + 30 related

    Schedule J breakdown matched by us

    Base
    $0 + $131,078 related
    Bonus
    $0 + $10,846 related
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $37,116 related
    Filer's total
    $0 + $179,040 related

  • JAMES WILSON

    VP, AFFORDABLE LIVING

    Total calculated
    $201,591
    From this org
    $0
    From related orgs
    $186,306
    Other
    $15,285
    Hours/week
    10 + 30 related

    Schedule J breakdown matched by us

    Base
    $0 + $163,191 related
    Bonus
    $0 + $23,115 related
    Other
    $0
    Deferred
    $0 + $2,908 related
    Nontaxable benefits
    $0 + $12,377 related
    Filer's total
    $0 + $201,591 related

  • MEGAN BRADFORD

    VP, MIDDLE MARKET & MINISTRY

    Total calculated
    $150,314
    From this org
    $0
    From related orgs
    $146,102
    Other
    $4,212
    Hours/week
    10 + 30 related

    Schedule J breakdown matched by us

    Base
    $0 + $129,561 related
    Bonus
    $0 + $16,300 related
    Other
    $0 + $241 related
    Deferred
    $0 + $3,894 related
    Nontaxable benefits
    $0 + $318 related
    Filer's total
    $0 + $150,314 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

The filer's explanations (Part III)

PART I, LINE 3
EPISCOPAL RETIREMENT HOMES INC, A RELATED PARTY, USES THE FOLLOWING METHODS TO ESTABLISH THE COMPENSATION OF THE ORGANIZATION'S CEO: -COMPENSATION COMMITTEE -COMPENSATION SURVEY OR STUDY -APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE

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

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
14 November 2024
IRS schema version
2023v5.1
Source object
202403209349304700

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