Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1d · Related organizations

  $540,393

• 1e · Government grants (contributions)

  $1,504,889

• 2a · Program service revenue: RESIDENT SERVICE FEES

  total $12,443,618 · related or exempt $12,443,618

• 2b · Program service revenue: ENTRANCE FEES

  total $797,669 · related or exempt $797,669

• 3 · Investment income

  total $589,452 · excluded $589,452

• 7a · Gross sales of assets other than inventory

  securities $16,014,676 · other assets $259

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

  securities $16,285,540 · other assets $0

• 7c · Gain or loss

  securities -$270,864 · other assets $259

• 7d · Net gain or loss

  total -$270,605 · excluded -$270,605

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $262,737 · program services $236,463 · management and general $26,274

• 7 · Other salaries and wages

  total $4,697,512 · program services $3,650,077 · management and general $1,047,435

• 8 · Pension plan contributions

  total $123,340 · program services $95,447 · management and general $27,893

• 9 · Other employee benefits

  total $1,139,910 · program services $722,678 · management and general $417,232

• 10 · Payroll taxes

  total $366,438 · program services $282,877 · management and general $83,561

• 11b · Fees: legal

  total $149,418 · management and general $149,418

• 11f · Fees: investment management

  total $73,931 · management and general $73,931

• 11g · Fees: other

  total $1,002,551 · program services $571,731 · management and general $430,820

• 12 · Advertising and promotion

  total $165,995 · program services $43,737 · management and general $122,258

• 13 · Office expenses

  total $485,373 · program services $420,877 · management and general $64,496

• 14 · Information technology

  total $336,055 · program services $15,306 · management and general $320,749

• 16 · Occupancy

  total $1,609,251 · program services $1,545,083 · management and general $64,168

• 17 · Travel

  total $3,195 · program services $2,876 · management and general $319

• 20 · Interest

  total $965,213 · program services $965,202 · management and general $11

• 22 · Depreciation, depletion and amortization

  total $3,163,944 · program services $3,019,036 · management and general $144,908

• 23 · Insurance

  total $224,001 · program services -$1,340 · management and general $225,341

• 24a · Other expenses: DINING FOOD COST

  total $901,321 · program services $901,184 · management and general $137

• 24b · Other expenses: PILOT

  total $189,018 · program services $189,018

• 24c · Other expenses: OUTREACH

  total $148,519 · program services $148,519

• 24d · Other expenses: OPERATING/MEDICAL SUPPL

  total $108,023 · program services $103,162 · management and general $4,861

• 24e · All other expenses

  total $4,990 · program services -$183 · management and general $5,173

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $700 · end of year $700

• 2 · Savings and temporary cash investments

  beginning of year $501,180 · end of year $796,995

• 4 · Accounts receivable

  beginning of year $106,251 · end of year $172,220

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

  $75,357,061

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

  $49,924,790

• 10c · Land, buildings and equipment, net

  beginning of year $27,648,745 · end of year $25,432,271

• 11 · Investments: publicly traded securities

  beginning of year $22,294,848 · end of year $21,321,937

• 15 · Other assets

  beginning of year $13,205,336 · end of year $20,122,965

• 17 · Accounts payable and accrued expenses

  beginning of year $85,931 · end of year $96,340

• 19 · Deferred revenue

  beginning of year $3,945,409 · end of year $4,206,289

• 20 · Tax-exempt bond liabilities

  beginning of year $28,561,247 · end of year $27,922,392

• 25 · Other liabilities

  beginning of year $71,473,646 · end of year $73,457,128

• 27 · Net assets without donor restrictions

  beginning of year -$40,691,142 · end of year -$38,250,855

• 28 · Net assets with donor restrictions

  beginning of year $381,969 · end of year $415,794

The filer's explanations (Part III)

PART I, LINE 3

IT IS THE POLICY OF THE ORGANIZATION TO REVIEW THE COMPENSATION PACKAGE OF THE CHIEF EXECUTIVE OFFICER (CEO) AS PART OF AN ANNUAL PERFORMANCE REVIEW PROCESS. BIENNIALLY, HUMAN RESOURCES WILL CONTRACT WITH AN INDEPENDENT THIRD PARTY TO CONDUCT A MARKET-BASED ANALYSIS AND BENCHMARK OF CEO COMPENSATION THAT UTILIZES DATA FROM REGIONAL ORGANIZATIONS OF SIMILAR SIZE. THIS ANALYSIS WAS LAST PERFORMED IN 2023 PRIOR TO THE HIRING OF THE CURRENT CEO. THE BENCHMARK DATA IS PRESENTED TO THE EXECUTIVE COMMITTEE OF THE BOARD. THE DECISIONS, PROCESS FOR DECISION-MAKING, AND COMMITTEE MEMBERS ARE DOCUMENTED.