Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1f · All other contributions, gifts and grants

  $69,665

• 2a · Program service revenue: MONTHLY SERVICE FEES

  total $11,013,795 · related or exempt $11,013,795

• 2b · Program service revenue: MEDICAL SERVICES REVENUE

  total $5,299,603 · related or exempt $5,299,603

• 2c · Program service revenue: MEDICARE

  total $3,285,754 · related or exempt $3,285,754

• 2d · Program service revenue: ENTRANCE FEE AMORTIZATION

  total $2,691,711 · related or exempt $2,691,711

• 2e · Program service revenue: ADMINISTRATIVE FEE

  total $697,549 · related or exempt $697,549

• 2f · All other program service revenue

  total $583,665 · related or exempt $583,665

• 3 · Investment income

  total $581,876 · excluded $581,876

• 4 · Income from investment of tax-exempt bond proceeds

  total $41,508 · excluded $41,508

• 6a · Gross rents

  real property $48,199

• 6b · Less rental expenses

  real property $23,872

• 6c · Rental income or loss

  real property $24,327

• 6d · Net rental income or loss

  total $24,327 · excluded $24,327

• 7a · Gross sales of assets other than inventory

  other assets $1,421

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

  other assets $0

• 7c · Gain or loss

  other assets $1,421

• 7d · Net gain or loss

  total $1,421 · excluded $1,421

• 11a · Other revenue: CAFE, CATERING, VENDING INCOME

  total $54,433 · excluded $54,433

• 11b · Other revenue: APARTMENT MODIFICATION

  total $44,030 · excluded $44,030

• 11c · Other revenue: EMPLOYEE MEALS

  total $4,086 · excluded $4,086

• 11d · All other revenue

  total $1,431 · excluded $1,431

• 11e · Other revenue, total

  $103,980

Functional expenses

Part IX, the statement of functional expenses.

• 7 · Other salaries and wages

  total $9,136,949 · program services $8,048,436 · management and general $1,088,513

• 8 · Pension plan contributions

  total $65,180 · program services $54,692 · management and general $10,488

• 9 · Other employee benefits

  total $801,709 · program services $695,924 · management and general $105,785

• 10 · Payroll taxes

  total $667,110 · program services $590,131 · management and general $76,979

• 11b · Fees: legal

  total $3,210,466 · management and general $3,210,466

• 11c · Fees: accounting

  total $50,356 · management and general $50,356

• 11f · Fees: investment management

  total $20,787 · management and general $20,787

• 11g · Fees: other

  total $1,671,259 · program services $1,631,006 · management and general $40,253

• 12 · Advertising and promotion

  total $561,474 · management and general $561,474

• 13 · Office expenses

  total $602,258 · program services $497,966 · management and general $104,292

• 14 · Information technology

  total $185,865 · management and general $185,865

• 16 · Occupancy

  total $2,586,948 · program services $2,586,948

• 17 · Travel

  total $43,455 · program services $39,583 · management and general $3,872

• 20 · Interest

  total $4,685,022 · program services $4,685,022

• 22 · Depreciation, depletion and amortization

  total $3,523,096 · program services $3,233,977 · management and general $289,119

• 23 · Insurance

  total $321,253 · program services $321,253

• 24a · Other expenses: MANAGEMENT EXPENSES

  total $2,017,653 · management and general $2,017,653

• 24b · Other expenses: FOOD EXPENSE

  total $1,192,293 · program services $1,192,293

• 24c · Other expenses: ACCRETION OF DEBT

  total $413,921 · program services $413,921

• 24d · Other expenses: MEDICAL SUPPLIES

  total $237,922 · program services $237,922

• 24e · All other expenses

  total $597,863 · program services $313,044 · management and general $284,819

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $500 · end of year $200

• 2 · Savings and temporary cash investments

  beginning of year $1,426,655 · end of year $3,153,648

• 4 · Accounts receivable

  beginning of year $815,722 · end of year $1,367,307

• 8 · Inventories for sale or use

  beginning of year $120,388

• 9 · Prepaid expenses and deferred charges

  beginning of year $270,148 · end of year $320,985

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

  $109,113,273

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

  $359,951

• 10c · Land, buildings and equipment, net

  beginning of year $80,913,378 · end of year $108,753,322

• 11 · Investments: publicly traded securities

  beginning of year $3,367,410 · end of year $12,613,718

• 13 · Investments: program-related

  end of year $358,051

• 14 · Intangible assets

  end of year $7,643,987

• 15 · Other assets

  beginning of year $13,436,721 · end of year $689,496

• 17 · Accounts payable and accrued expenses

  beginning of year $1,261,660 · end of year $3,462,302

• 19 · Deferred revenue

  beginning of year $94,419 · end of year $71,106,282

• 20 · Tax-exempt bond liabilities

  beginning of year $88,947,299 · end of year $59,640,803

• 25 · Other liabilities

  beginning of year $100,509,047 · end of year $625,193

• 27 · Net assets without donor restrictions

  beginning of year -$91,014,469 · end of year -$291,916

• 28 · Net assets with donor restrictions

  beginning of year $552,966 · end of year $358,050

The filer's explanations (Part III)

PART I, LINE 3

IT HAS BEEN THE PRACTICE OF THE MANAGEMENT COMPANY, ACTS MANAGEMENT SERVICES, INC., TO UTILIZE AN INDEPENDENT COMPENSATION CONSULTANT ON AN APPROXIMATELY BIENNIAL BASIS FOR THE PURPOSE OF REVIEWING THE COMPENSATION PROGRAM FOR THE ORGANIZATION'S TOP MANAGEMENT POSITIONS, RANGING FROM THE COMMUNITY MANAGERS UP TO THE CEO. THE STUDY, THE LATEST VERSION OF WHICH WAS COMPLETED IN 2023, INCLUDES COMPARISON OF NOT-FOR-PROFIT AND FOR-PROFIT COMPETITORS, OPERATING EFFECTIVENESS, IDENTIFICATION OF INDUSTRY SPECIFIC TRENDS OR PRACTICES IN COMPENSATION OR RECRUITMENT/EMPLOYMENT. MEASUREMENT AND ACTION ARE GENERALLY FOCUSED AT THE LEVELS FROM MEDIAN UP TO SEVENTY-FIFTH PERCENTILE AS IDENTIFIED IN THE STUDY. THE REPORTS' FINDINGS ARE REVIEWED WITH THE PARENT BOARD OFFICERS. COMPENSATION ADJUSTMENTS FOR THE PRESIDENT & CEO ARE DETERMINED BY A COMMITTEE OF INDEPENDENT BOARD MEMBERS APPOINTED BY THE CHAIRMAN AND ARE BASED ON THE FINDINGS OF THE MOST RECENT STUDY AND A REVIEW OF PERFORMANCE COMPARED AGAINST OBJECTIVE CRITERIA. THIS DETERMINATION IS REPORTED TO AND APPROVED BY THE BOARD OF DIRECTORS AND IS DOCUMENTED IN WRITING BY THE BOARD CHAIR. SIMILARLY, COMPENSATION ADJUSTMENTS FOR THE MOST SENIOR MEMBERS OF MANAGEMENT REFLECT STUDY FINDINGS AND PERFORMANCE MEASUREMENT AGAINST SPECIFIED CRITERIA AND ARE DETERMINED BY THE CEO AND REVIEWED WITH THE BOARD CHAIR.

PART I, LINE 4B

OTHER COMPENSATION FOR KAREN I. CHRISTIANSEN, GERALD T. GRANT, GLENN D. FOX, AND JONATHAN D. GRANT INCLUDES ACCRUALS FOR A DEFERRED SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN. THE AMOUNT OF THE CURRENT YEAR ACCRUAL IS $242,760 FOR KAREN I. CHRISTIANSEN (NON-VESTED), $892,805 FOR GERALD T. GRANT (NON-VESTED), $463,450 FOR GLENN D. FOX (NON-VESTED), AND $111,032 FOR JONATHAN D. GRANT (NON-VESTED).

PART I, LINE 4B

(RELATES TO PART I, LINE 4A FROM 1/1/24 THROUGH 10/31/24): LISTED PERSONS ARE EMPLOYEES OF BONITA SPRINGS RETIREMENT VILLAGE, INC. OR RELATED ORGANIZATIONS. BONITA SPRINGS RETIREMENT VILLAGE, INC. EMPLOYEES ARE NOT COVERED BY A FORMAL SEVERANCE POLICY; SEVERANCE IS HANDLED ON A CASE BY CASE BASIS. EMPLOYEES OF RELATED ORGANIZATIONS ARE COVERED BY A SEVERANCE POLICY WHICH INCLUDES MONTHLY PAYMENTS UP TO A MAXIMUM OF 12-36 MONTHS UNDER QUALIFYING CIRCUMSTANCES AND DEPENDING ON POSITION. NO ONE LISTED RECIEVED SEVERANCE OR CHANGE OF CONTROL PAYMENTS DURING 2024.

PART I, LINE 4B:

NONQUALIFIED RETIREMENT PLAN IN THE YEAR; LAWRENCE G SCHREIBER AND STEVEN M ZIEGLER ARE EMPLOYEES OF SANTAFE HEALTHCARE, INC., A RELATED SUPPORTING ORGANIZATION. THEY PARTICIPATE IN TWO NONQUALIFIED DEFERRED COMPENSATION RETIREMENT PLANS SPONSORED BY SANTAFE HEALTHCARE, INC. FOR A CERTAIN GROUP OF EXECUTIVES. ONE PLAN RESTORES RETIREMENT BENEFITS EQUIVALENT TO QUALIFIED 401(K) BENEFITS ON INCOME EARNED IN EXCESS OF THE INTERNAL REVENUE SERVICE CODE SECTION 401(A)(17) RECOGNIZABLE PAY LIMITS (A DEFINED CONTRIBUTION RESTORATION PLAN). VESTING FOR THIS PLAN IS ACHIEVED AT AGE 55 AND 10 YEARS OF SERVICE OR AT AGE 65 AND 5 YEARS OF SERVICE. THE SECOND SUPPLEMENTAL DEFINED CONTRIBUTION PLAN PROVIDES ADDITIONAL RETIREMENT INCOME BASED ON A PERCENTAGE OF BASE SALARY AND VESTS AT THREE AND FIVE YEARS OF SERVICE.

SCHEDULE J, PART II:

FROM 1/1/2024 THROUGH 10/31/2024, CERTAIN SENIOR EXECUTIVES ARE ACCOUNTABLE FOR AND PERFORM SERVICES FOR SANTAFE HEALTHCARE, INC. AND EACH OF ITS AFFILIATES. SANTAFE HEALTHCARE, INC. AND AFFILIATES REPRESENT A DIVERSIFIED FAMILY OF NOT-FOR-PROFIT ORGANIZATIONS. THESE SENIOR EXECUTIVES ARE PAID DIRECTLY BY SANTAFE HEALTHCARE, INC., AND THEIR COMPENSATION AND BENEFITS ARE APPORTIONED AND CHARGED TO THE RESPECTIVE AFFILIATES BASED ON THE ESTIMATED AMOUNT OF TIME SPENT ON EACH AFFILIATE'S ACTIVITIES.

Related corporations and trusts

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

• SF HOLDING CORP INC (THRU 103124)

  C · HOLDING COMPANY · FL