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Nonprofiteer
← PRESBYTERIAN HOME AT CHARLOTTE INC

Form 990 for tax year 2022

Filed by PRESBYTERIAN HOME AT CHARLOTTE INC.

Totals

Total revenue
$28,589,138
Total expenses
$28,080,307
Contributions and grants received
$1,432,369
Grants paid
$1,517,119
Program service revenue
$27,236,684
Investment income
-$79,915
Other revenue
$0
Total assets, end of year
$213,210,140
Total liabilities, end of year
$149,137,039
Net assets or fund balances, end of year
$64,073,101
Program services expenses (Part IX)
$27,168,645
Management and general expenses
$789,049
Fundraising expenses
$122,613
Program service expenses (Part III)
$27,168,645

Program services were 96.8% 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

    $1,432,369

  • 2a · Program service revenue: INDEPENDENT LIVING

    total $10,713,539 · related or exempt $10,713,539

  • 2b · Program service revenue: HEALTH CARE

    total $6,767,860 · related or exempt $6,767,860

  • 2c · Program service revenue: ENTRANCE FEES

    total $5,474,903 · related or exempt $5,474,903

  • 2d · Program service revenue: ASSISTED LIVING

    total $2,494,650 · related or exempt $2,494,650

  • 2e · Program service revenue: OTHER RESIDENT SERVICE

    total $1,785,732 · related or exempt $1,785,732

  • 3 · Investment income

    total $663,579 · excluded $663,579

  • 7a · Gross sales of assets other than inventory

    securities $662,353

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

    securities $1,295,818 · other assets $110,029

  • 7c · Gain or loss

    securities -$633,465 · other assets -$110,029

  • 7d · Net gain or loss

    total -$743,494 · excluded -$743,494

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $679,400 · program services $679,400

  • 2 · Grants to domestic individuals

    total $837,719 · program services $837,719

  • 7 · Other salaries and wages

    total $9,811,861 · program services $9,058,651 · management and general $693,006 · fundraising $60,204

  • 8 · Pension plan contributions

    total $162,932 · program services $139,806 · management and general $20,889 · fundraising $2,237

  • 9 · Other employee benefits

    total $1,638,502 · program services $1,570,907 · management and general $55,892 · fundraising $11,703

  • 10 · Payroll taxes

    total $671,891 · program services $647,546 · management and general $19,262 · fundraising $5,083

  • 11g · Fees: other

    total $270,999 · program services $270,999

  • 12 · Advertising and promotion

    total $332,070 · program services $323,407 · fundraising $8,663

  • 20 · Interest

    total $1,027,930 · program services $1,027,930

  • 21 · Payments to affiliates

    total $1,000,000 · program services $1,000,000

  • 22 · Depreciation, depletion and amortization

    total $4,490,793 · program services $4,490,793

  • 23 · Insurance

    total $363,569 · program services $363,569

  • 24a · Other expenses: HOUSEKEEPING & MAINTENA

    total $2,445,309 · program services $2,443,937 · fundraising $1,372

  • 24b · Other expenses: FOOD & DIETARY

    total $1,455,012 · program services $1,455,012

  • 24c · Other expenses: UTILITIES & COMMUNICATI

    total $1,257,752 · program services $1,257,752

  • 24d · Other expenses: HEALTH CARE SUPPLIES

    total $1,241,991 · program services $1,241,991

  • 24e · All other expenses

    total $392,577 · program services $359,226 · fundraising $33,351

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $16,318,428 · end of year $19,670,896

  • 3 · Pledges and grants receivable

    beginning of year $186,808 · end of year $147,474

  • 4 · Accounts receivable

    beginning of year $1,174,054 · end of year $1,149,143

  • 9 · Prepaid expenses and deferred charges

    beginning of year $419,896 · end of year $333,176

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

    $115,261,286

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

    $37,250,179

  • 10c · Land, buildings and equipment, net

    beginning of year $61,906,531 · end of year $78,011,107

  • 11 · Investments: publicly traded securities

    beginning of year $32,271,771 · end of year $27,452,237

  • 15 · Other assets

    beginning of year $101,579,859 · end of year $86,446,107

  • 17 · Accounts payable and accrued expenses

    beginning of year $6,226,871 · end of year $7,886,085

  • 20 · Tax-exempt bond liabilities

    beginning of year $96,761,076 · end of year $81,687,702

  • 25 · Other liabilities

    beginning of year $42,265,225 · end of year $59,563,252

  • 27 · Net assets without donor restrictions

    beginning of year $61,023,480 · end of year $58,115,947

  • 28 · Net assets with donor restrictions

    beginning of year $7,580,695 · end of year $5,957,154

Mission and programs · 2022

Mission

WE ENRICH THE LIVES OF THOSE WE SERVE BY PROVIDING A NURTURING ENVIRONMENT THAT FOSTERS JOY, PURPOSE, AND WELL-BEING.

Activities or mission (Part I)

WE ENRICH RESIDENTS' LIVES BY PROVIDIING A NURTURING ENVIRONMENT WITH JOY, PURPOSE, AND WELL-BEING

  • THE PRESBYTERIAN HOME AT CHARLOTTE, INC. PROVIDES HOUSING, HEALTH CARE, AND OTHER RELATED SERVICES TO RESIDENTS THROUGH THE OPERATION OF A RETIREMENT FACILITY WHICH AT DECEMBER 31, 2022, CONTAINED 253 INDEPENDENT LIVING UNITS, 40 ASSISTED LIVING UNITS, AND A 96 BED HEALTH CARE CENTER (37 HEALTH CARE BEDS OUT OF SERVICE DURING CONSTRUCTION).

    Expenses $27,168,645 · Grants $1,517,119 · Revenue $27,236,684

As filed on the 2022 return.

Listed in Part VII

  • DOUGLAS K BRADLEY

    VICE CHAIR/PAST CHAIR

    Total calculated
    $0
    Hours/week
    1

  • JOHN E BURTON JR

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • JOHN J CARPENTER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • EDITH M HALL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MARGARET A MARTIN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • TIMOTHY J IGNASHER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • RONALD R KIMBLE

    DIRECOR

    Total calculated
    $0
    Hours/week
    1

  • ADELAIDE A DAVIS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • E JUDSON MCADAMS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • RICHARD D WILLIAMS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • RICHARD L NICHOLS

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • KATHERINE K RICH

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • ROBERT S HUDSPETH

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • CURTIS L TRENKELBACH

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • THECKLA D STERRETT

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • VELVA W WOOLLEN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MARTHA K CADDELL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • WILLIAM A NICHOLS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • B PARTHENIA RICH

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ROBERT T DOOLEY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • CHARLES R GASKINS

    CFO

    Total calculated
    $239,546
    From this org
    $203,448
    From related orgs
    $0
    Other
    $36,098
    Hours/week
    40 + 1 related

    Schedule J breakdown matched by us

    Base
    $190,602
    Bonus
    $12,846
    Other
    $0
    Deferred
    $7,354
    Nontaxable benefits
    $28,744
    Filer's total
    $239,546

  • ANGELA RIGSBEE

    PRESIDENT AND CEO

    Total calculated
    $267,602
    From this org
    $237,861
    From related orgs
    $0
    Other
    $29,741
    Hours/week
    40 + 1 related

    Schedule J breakdown matched by us

    Base
    $225,711
    Bonus
    $12,150
    Other
    $0
    Deferred
    $7,964
    Nontaxable benefits
    $21,777
    Filer's total
    $267,602

  • MILTON MCGOWIAN

    VP RESIDENT SERVICES

    Total calculated
    $157,462
    From this org
    $136,566
    From related orgs
    $0
    Other
    $20,896
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $135,017
    Bonus
    $1,549
    Other
    $0
    Deferred
    $4,905
    Nontaxable benefits
    $15,991
    Filer's total
    $157,462

  • CORY STEPANSKI

    DIRECTOR OF FACILITY SERVICES

    Total calculated
    $144,637
    From this org
    $121,060
    From related orgs
    $0
    Other
    $23,577
    Hours/week
    40

  • ANN MARIE LADIS

    DIRECTOR OF MARKETING

    Total calculated
    $159,179
    From this org
    $144,664
    From related orgs
    $0
    Other
    $14,515
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $111,739
    Bonus
    $32,925
    Other
    $0
    Deferred
    $5,082
    Nontaxable benefits
    $9,433
    Filer's total
    $159,179

  • ELIZABETH BYRD

    VP NURSING SERVICES

    Total calculated
    $135,398
    From this org
    $121,596
    From related orgs
    $0
    Other
    $13,802
    Hours/week
    40

  • OTIS AMERSON

    PROJECT MANAGER

    Total calculated
    $123,787
    From this org
    $113,285
    From related orgs
    $0
    Other
    $10,502
    Hours/week
    40

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 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 5a · Pay contingent on this organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 7 · Other non-fixed payments

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5b · Pay contingent on a related organization's revenues
  • 6b · Pay contingent on a related organization's net earnings
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3
THE COMPANY DOES NOT HAVE AN EXTERNAL REVIEW, HOWEVER, THE EXECUTIVE COMMITTEE OF THE SHARON TOWERS BOARD SERVES AS THE COMPENSATION COMMITTEE. THE COMMITTEE IS GIVEN A WAGE AND SALARY SURVEY CONDUCTED ANNUALLY BY THE LEADINGAGE NATIONAL AND THE HOSPITAL AND HEALTH CARE COMPENSATION SERVICE. THE SURVEY CONSISTS OF DATA FROM OTHER CONTINUING CARE RETIREMENT COMMUNITIES (CCRC'S) FOR THE ENTIRE COUNTRY. THE DELIBERATION AND DECISION IS THEN DOCUMENTED AND PLACED IN THE CEO'S FILE HELD BY THE BOARD CHAIR. A COPY IS ALSO KEPT IN THE SHARON TOWER'S HUMAN RESOURCES RECORDS.
PART I, LINE 5
CEO, CFO, & VP'S HAD CERTAIN TARGETS TO ATTAIN INCLUDING "INCOME AVAILABLE FOR DEBT SERVICE" COMPARED TO FORECASTED FIGURES TO EARN A PORTION OF THEIR BONUS.
PART I, LINE 6
CEO, CFO, & VP'S HAD CERTAIN TARGETS TO ATTAIN INCLUDING "INCOME AVAILABLE FOR DEBT SERVICE" COMPARED TO FORECASTED FIGURES TO EARN A PORTION OF THEIR BONUS.
PART I, LINE 7
CEO, CFO, AND VP'S HAD CERTAIN NON-FINANCIAL GOALS TO MEET IN ORDER TO RECEIVE A PORTION OF THEIR BONUS.

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

  • UNC CHARLOTTE

    $214,924

    SUPPORT UNCC PROGRAM TO PROVIDE UNDERSERVED SENIORS WITH PERSONALIZED HEALTH ASSESSMENTS

  • ALZHEIMER'S ASSOCIATION

    $165,000

    WALK TO END ALZHEIMER'S AND DEMENTIA EDUCATION

  • INREACH

    $125,000

    SUPPORT FOR A WIDE VARIETY OF SERVICES TO INDIVIDUALS WITH INTELLECTUAL AND MENTAL DEFICITS

  • SHARON PRESBYTERIAN CHURCH

    $50,000

    SERVE HUMAN NEED

  • CRISIS ASSISTANCE

    $25,000

    TO PROVIDE ASSISTANCE AND ADVOCACY FOR PEOPLE IN FINANCIAL CRISIS, HELPING THEM MOVE TOWARD SELF-SUFFICIENCY

  • FRIENDSHIP TRAYS

    $25,000

    HOME DELIVERED MEALS TO THOSE IN NEED

  • MEMORY AND MOVEMENT

    $25,000

    COMPREHENSIVE CARE FOR MEMORY AND MOVEMENT DISORDERS REGARDLESS OF FINANCIAL SITUATION

  • QUEENS UNIVERSITY

    $25,000

    LEARNING SOCIETY PROGRAM

  • LEADINGAGE NATIONAL

    $10,000

    HURRICANE RELIEF

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.

  • SHARON TOWERS FOUNDATION

    501(C)(3) · SUPPORT OF SHARON TOWERS · NC · controlled entity

    Directly controlled by THE PRESBYTERIAN HOME AT CHARLOTTE

Provenance

Return type
form_990
Tax year
2022
Filed
10 May 2023
IRS schema version
2022v5.0
Source object
202301319349305950

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