Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $156,562

• 2a · Program service revenue: SENIOR HOUSING

  total $1,073,322 · related or exempt $1,073,322

• 2f · All other program service revenue

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 6c · Rental income or loss

  real property $0 · personal property $0

• 7c · Gain or loss

  securities $0 · other assets $0

• 11a · Other revenue: MISCELLANEOUS

  total $19,502 · excluded $19,502

• 11d · All other revenue

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 11e · Other revenue, total

  $19,502

Functional expenses

Part IX, the statement of functional expenses.

• 7 · Other salaries and wages

  total $92,711 · management and general $92,711

• 9 · Other employee benefits

  total $30,920 · management and general $30,920

• 10 · Payroll taxes

  total $7,092 · management and general $7,092

• 11a · Fees: management

  total $50,720 · management and general $50,720

• 11b · Fees: legal

  total $863 · management and general $863

• 11c · Fees: accounting

  total $68,015 · program services $3,902 · management and general $64,113

• 11g · Fees: other

  total $240,381 · program services $240,381 · management and general $0 · fundraising $0

• 13 · Office expenses

  total $9,163 · program services $9,163

• 16 · Occupancy

  total $513,122 · program services $512,815 · management and general $307

• 20 · Interest

  total $8,705 · management and general $8,705

• 22 · Depreciation, depletion and amortization

  total $557,282 · program services $553,308 · management and general $3,974

• 24a · Other expenses: Bad Debt

  total $3,882 · management and general $3,882

• 24e · All other expenses

  total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

• 2 · Savings and temporary cash investments

  beginning of year $336,081 · end of year $92,108

• 4 · Accounts receivable

  beginning of year $5,767 · end of year $468,744

• 5 · Loans and receivables from officers and key people

  beginning of year $0 · end of year $0

• 6 · Loans and receivables from disqualified persons

  beginning of year $0 · end of year $0

• 9 · Prepaid expenses and deferred charges

  end of year $19,475

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

  $13,695,598

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

  $6,178,297

• 10c · Land, buildings and equipment, net

  beginning of year $7,854,354 · end of year $7,517,301

• 12 · Investments: other securities

  beginning of year $0

• 13 · Investments: program-related

  beginning of year $0

• 15 · Other assets

  beginning of year $19,475 · end of year $0

• 17 · Accounts payable and accrued expenses

  beginning of year $231,394 · end of year $485,371

• 21 · Escrow or custodial account liability

  beginning of year $18,455 · end of year $18,873

• 22 · Loans and payables to officers and key people

  beginning of year $0 · end of year $0

• 25 · Other liabilities

  beginning of year $10,783,565 · end of year $10,744,591

• 27 · Net assets without donor restrictions

  beginning of year -$2,817,737 · end of year -$3,151,207

The filer's explanations (Part III)

Schedule J, Part I, Line 3 Arrangement used to establish the top management official's compensation

THE CEO AND OFFICERS AND KEY EMPLOYEES' COMPENSATION IS PAID THROUGH A RELATED MANAGEMENT SERVICE ORGANIZATION; RIVERSPRING SERVICES CORP. COMPENSATION IS ALLOCATED TO EACH RELATED ENTITY BASED ON AN APPROVED METHODOLOGY. DETERMINATION OF THE COMPENSATION IS BASED ON INDEPENDENT COMPARATIVE ANALYSIS OF COMPENSATION LEVELS FOR OTHER CEO'S AND OFFICERS IN ORGANIZATIONS OF SIMILAR SIZE IN THE LONG-TERM CARE INDUSTRY PRIMARILY IN THE NY METROPOLITAN AREA. THIS IS DONE BY AN INDEPENDENT COMPENSATION CONSULTANT AND THE INFORMATION IS THEN REVIEWED BY A COMPENSATION COMMITTEE AND APPROVED BY THE FULL BOARD OF THE RELATED ENTITIES PAYING THE COMPENSATION.