Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1d · Related organizations

  $1,546,617

• 1e · Government grants (contributions)

  $3,933,364

• 1f · All other contributions, gifts and grants

  $2,098,064

• 2a · Program service revenue: RESIDENT SERVICE FEES

  total $54,434,741 · related or exempt $54,434,741

• 2b · Program service revenue: AMORT OF ENTRANCE FEES

  total $7,538,181 · related or exempt $7,538,181

• 2c · Program service revenue: MANAGEMENT FEES

  total $2,099,882 · related or exempt $2,099,882

• 3 · Investment income

  total $1,567,743 · unrelated business $36,597 · excluded $1,531,146

• 6a · Gross rents

  real property $65,025

• 6b · Less rental expenses

  real property $10,096

• 6c · Rental income or loss

  real property $54,929

• 6d · Net rental income or loss

  total $54,929 · excluded $54,929

• 7a · Gross sales of assets other than inventory

  securities $14,989,303

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

  securities $12,193,406 · other assets $6,746

• 7c · Gain or loss

  securities $2,795,897 · other assets -$6,746

• 7d · Net gain or loss

  total $2,789,151 · excluded $2,789,151

• 11a · Other revenue: DEVELOPER FEE INCOME

  total $750,825 · excluded $750,825

• 11b · Other revenue: CAFE/LOUNGE MEAL REVENUE

  total $265,270 · excluded $265,270

• 11c · Other revenue: APARTMENT RENOVATIONS

  total $25,099 · excluded $25,099

• 11d · All other revenue

  total $444,265 · unrelated business $2,918 · excluded $441,347

• 11e · Other revenue, total

  $1,485,459

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $3,750 · program services $3,750

• 2 · Grants to domestic individuals

  total $599,962 · program services $599,962

• 5 · Compensation of officers, directors and key employees

  total $1,591,701 · management and general $1,591,701

• 7 · Other salaries and wages

  total $30,628,172 · program services $25,070,012 · management and general $5,157,991 · fundraising $400,169

• 8 · Pension plan contributions

  total $642,916 · program services $467,409 · management and general $168,014 · fundraising $7,493

• 9 · Other employee benefits

  total $3,183,416 · program services $2,197,013 · management and general $951,181 · fundraising $35,222

• 10 · Payroll taxes

  total $2,783,898 · program services $2,174,603 · management and general $574,584 · fundraising $34,711

• 11b · Fees: legal

  total $57,720 · management and general $57,720

• 11c · Fees: accounting

  total $138,101 · management and general $138,101

• 11d · Fees: lobbying

  total $3,795 · management and general $3,795

• 11f · Fees: investment management

  total $287,923 · management and general $287,923

• 11g · Fees: other

  total $5,958,994 · program services $4,313,203 · management and general $1,611,115 · fundraising $34,676

• 12 · Advertising and promotion

  total $1,361,096 · management and general $1,361,096

• 13 · Office expenses

  total $717,144 · program services $697,030 · management and general $18,206 · fundraising $1,908

• 16 · Occupancy

  total $4,483,189 · program services $4,180,751 · management and general $291,001 · fundraising $11,437

• 17 · Travel

  total $373,445 · program services $348,252 · management and general $24,240 · fundraising $953

• 19 · Conferences, conventions and meetings

  total $42,103 · program services $39,263 · management and general $2,733 · fundraising $107

• 20 · Interest

  total $4,734,533 · program services $4,734,533

• 22 · Depreciation, depletion and amortization

  total $13,133,451 · program services $13,133,451

• 23 · Insurance

  total $1,223,721 · program services $1,141,168 · management and general $79,431 · fundraising $3,122

• 24a · Other expenses: FEDERAL UBI TAXES

  total $6,293 · program services $6,293

• 24b · Other expenses: FOOD EXPENSES

  total $2,915,727 · program services $2,719,031 · management and general $189,258 · fundraising $7,438

• 24c · Other expenses: SUPPLIES AND MATERIALS

  total $1,983,195 · program services $1,849,408 · management and general $128,728 · fundraising $5,059

• 24d · Other expenses: REPAIRS AND MAINTENANCE

  total $919,379 · program services $857,358 · management and general $59,676 · fundraising $2,345

• 24e · All other expenses

  total $1,814,441 · program services $1,695,154 · management and general $114,633 · fundraising $4,654

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $4,450 · end of year $4,450

• 2 · Savings and temporary cash investments

  beginning of year $4,615,576 · end of year $3,327,214

• 3 · Pledges and grants receivable

  beginning of year $6,798 · end of year $6,798

• 4 · Accounts receivable

  beginning of year $3,327,569 · end of year $3,427,580

• 9 · Prepaid expenses and deferred charges

  beginning of year $953,068 · end of year $873,265

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

  $312,278,341

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

  $134,577,068

• 10c · Land, buildings and equipment, net

  beginning of year $177,523,808 · end of year $177,701,273

• 11 · Investments: publicly traded securities

  beginning of year $119,515,484 · end of year $103,418,183

• 12 · Investments: other securities

  beginning of year $1,252,658 · end of year $1,252,658

• 15 · Other assets

  beginning of year $15,152,025 · end of year $11,758,081

• 17 · Accounts payable and accrued expenses

  beginning of year $8,209,072 · end of year $4,541,297

• 19 · Deferred revenue

  beginning of year $47,747,250 · end of year $63,200,397

• 20 · Tax-exempt bond liabilities

  beginning of year $86,452,112 · end of year $84,762,826

• 23 · Secured mortgages and notes payable

  beginning of year $26,002,601 · end of year $19,527,038

• 24 · Unsecured notes and loans payable

  beginning of year $3,814,100 · end of year $0

• 25 · Other liabilities

  beginning of year $90,674,777 · end of year $94,246,641

• 27 · Net assets without donor restrictions

  beginning of year $33,700,641 · end of year $14,115,815

• 28 · Net assets with donor restrictions

  beginning of year $25,750,883 · end of year $21,375,488

The filer's explanations (Part III)

PART I, LINE 1A

FIRST-CLASS TRAVEL IS AVAILABLE TO EXECUTIVE TEAM MEMBERS OF THE ORGANIZATION. TRAVEL FOR COMPANIONS IS AVAILABLE FOR EXECUTIVE TEAM MEMBERS. A COST REIMBURSEMENT BENEFIT OF $60/ MONTH IS AVAILABLE TO CERTAIN EXECUTIVE TEAM MEMBERS FOR MONTHLY GYM MEMBERSHIP DUES.

PART I, LINE 3

COMPENSATION OF THE CEO IS DETERMINED BY HUMANGOOD USING THE FOLLOWING METHODS: COMPENSATION COMMITTEE, COMPENSATION CONSULTANT, FORM 990 OF OTHER ORGANIZATIONS, COMPENSATION SURVEY/STUDY AND APPROVAL BY THE BOARD/COMPENSATION COMMITTEE.

PART I, LINES 4A-B

TROY KEACH, FORMER VP OF HUMAN RESOURCES, RECEIVED A SEVERANCE PAYMENT DURING 2022. CERTAIN KEY EXECUTIVES WERE ALLOWED TO PARTICIPATE IN AN IRC 457(F) PLAN, WHEREBY (SUBJECT TO PLAN AMENDMENT) THE PLAN WILL FUND REGULAR CONTRIBUTIONS AND EARN A RETURN EQUAL TO THE CONSUMER PRICE INDEX RATE PLUS 2.5 PERCENT WITH A CAP OF 6.0 PERCENT.

PART I, LINE 7

INCENTIVE COMPENSATION: EXECUTIVE DIRECTORS, REGIONAL MANAGERS AND SENIOR MANAGEMENT ARE ELIGIBLE FOR INCENTIVE COMPENSATION. IN THE CALENDAR YEAR PRECEDING THE INCENTIVE COMPENSATION PAYMENT, GOALS ARE SET FOR EACH INDIVIDUAL THAT ALIGN WITH THE STRATEGIC AND OPERATIONAL OBJECTIVES OF THE ORGANIZATION. THE GOALS OF THE CEO AND EXECUTIVE TEAM ARE REVIEWED BY THE COMPENSATION COMMITTEE AND BOARD. BEFORE ANY PAYMENT IS MADE, THE INCENTIVE COMPENSATION POOL MUST BE FUNDED BY EXCEEDING BUDGETED NET CASH PRODUCTION ARISING FROM THE SUM OF OPERATIONAL PERFORMANCE AND NET TURNOVER ENTRANCE FEES, SUBJECT TO A CAP. IF THE INCENTIVE POOL IS PARTIALLY FUNDED, THE PARTIAL PERCENTAGE IS APPLIED TO THE POTENTIAL PAYMENT FOR EACH TEAM MEMBER'S ATTAINED GOALS. THE ATTAINMENT OF THE GOALS OF THE CEO AND EXECUTIVE TEAM ARE REVIEWED BY THE COMPENSATION COMMITTEE AND BOARD PRIOR TO PAYMENT. FOR OTHER TEAM MEMBERS, THE ATTAINMENT OF EACH INCENTIVE GOAL IS ASSESSED BY THE INCENTIVE-ELIGIBLE TEAM MEMBER'S SUPERVISOR AND ULTIMATELY REVIEWED BY THE CEO PRIOR TO PAYMENT.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

• BENSALEM SENIOR APARTMENTS LP

  LOW INCOME HOUSING FOR SENIOR CITIZENS AND HANDICAPPED · PA

• RIVERSIDE SENIOR APARTMENTS LP

  LOW INCOME HOUSING FOR SENIOR CITIZENS AND HANDICAPPED · PA

• WYNNEFIELD PLACE LP

  LOW INCOME HOUSING FOR SENIOR CITIZENS AND HANDICAPPED · PA

• WYNNEFIELD SENIOR HOUSING LLC

  LOW INCOME HOUSING FOR SENIOR CITIZENS AND HANDICAPPED · PA

• CANTRELL PLACE LP

  LOW INCOME HOUSING FOR SENIOR CITIZENS AND HANDICAPPED · PA

• WITHERSPOON SENIOR APARTMENTS LP

  LOW INCOME HOUSING FOR SENIOR CITIZENS AND HANDICAPPED · PA

• MAKEMIE COURT LP

  LOW INCOME HOUSING FOR SENIOR CITIZENS AND HANDICAPPED · PA

• JANNEY STREET APARTMENTS LP

  LOW INCOME HOUSING FOR SENIOR CITIZENS AND HANDICAPPED · PA

• MARY FIELD SENIOR APARTMENTS LP

  LOW INCOME HOUSING FOR SENIOR CITIZENS AND HANDICAPPED · PA

Related corporations and trusts

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

• PRESBYHOUSING INC

  C · INVESTMENT · PA

• PRESBY RIVERSIDE HOUSING INC

  C · INVESTMENT · PA

• PRESBY HOMES DEVELOPMENT CORP

  C · INACTIVE · PA

• WYNNEFIELD HOUSING CORPORATION

  C · INACTIVE · PA

• CANTRELL HOUSING INC

  C · INVESTMENT · PA

• WITHERSPOON HOUSING INC

  C · INVESTMENT · PA

• HUMANGOOD PROPERTIES

  C · PROPERTY HOLDING COMPANY · CA

• HG MAKEMIE HOUSING INC

  C · LOW INCOME HOUSING FOR SENIOR CITIZENS AND HANDICAPPED · PA