Totals
- Total revenue
- $1,030,310
- Total expenses
- $102,500
- Contributions and grants received
- $1,025,000
- Grants paid
- $0
- Program service revenue
- $0
- Investment income
- $5,310
- Other revenue
- $0
- Total assets, end of year
- $2,030,311
- Total liabilities, end of year
- $107,391
- Net assets or fund balances, end of year
- $1,922,920
- Program services expenses (Part IX)
- $89,445
- Management and general expenses
- $0
- Fundraising expenses
- $13,055
- Program service expenses (Part III)
- $89,445
Program services were 87.3% 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.
-
1d · Related organizations
$1,000,000
-
1f · All other contributions, gifts and grants
$25,000
-
3 · Investment income
total $5,310 · excluded $5,310
Functional expenses
Part IX, the statement of functional expenses.
-
7 · Other salaries and wages
total $84,286 · program services $84,286
-
10 · Payroll taxes
total $5,159 · program services $5,159
-
11g · Fees: other
total $13,055 · fundraising $13,055
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $1,000,000 · end of year $2,030,311
-
17 · Accounts payable and accrued expenses
beginning of year $4,890 · end of year $107,391
-
29 · Capital stock, trust principal or current funds
beginning of year $0 · end of year $0
-
30 · Paid-in or capital surplus, or land, building or equipment fund
beginning of year $0 · end of year $0
-
31 · Retained earnings, endowment or other funds
beginning of year $995,110 · end of year $1,922,920
Mission and programs · 2022
Mission
SHARON TOWERS FOUNDATION EXISTS SOLELY FOR THE BENEFIT OF THE PRESBYTERIAN HOME AT CHARLOTTE, INC., (D/B/A SHARON TOWERS) AND ITS RESIDENTS.
Activities or mission (Part I)
THE FOUNDATION PROVISION OF GOODS, SERVICES, OR FUNDS IS LIMITED TO SHARON TOWERS AND ITS RESIDENTS.
-
SHARON TOWERS FOUNDATION WAS ESTABLISHED AS A SUPPORTING ORGANIZATION THAT SUPPORTS THE MISSION OF THE PRESBYTERIAN HOME AT CHARLOTTE, INC. (SHARON TOWERS) BY FURTHERING ITS FINANCIAL ASSISTANCE AND FUNDRAISING GOALS.
Expenses $89,445
As filed on the 2022 return.
Listed in Part VII
-
NED MCCONNELL
CHAIR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
VINCENT PRATT
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
KELLY GRAVES
TREASURER
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
KATHERINE RICHARDS
SECRETARY
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
ANGELA RIGSBEE
PRESIDENT & CEO
- Total calculated
- $267,602
- From this org
- $0
- From related orgs
- $237,861
- Other
- $29,741
- Hours/week
- 1 + 40 related
Schedule J breakdown matched by us
- Base
- $0 + $225,711 related
- Bonus
- $0 + $12,150 related
- Other
- $0
- Deferred
- $0 + $7,964 related
- Nontaxable benefits
- $0 + $21,777 related
- Filer's total
- $0 + $267,602 related
-
CHARLES GASKINS
CFO
- Total calculated
- $239,546
- From this org
- $0
- From related orgs
- $203,448
- Other
- $36,098
- Hours/week
- 1 + 40 related
Schedule J breakdown matched by us
- Base
- $0 + $190,602 related
- Bonus
- $0 + $12,846 related
- Other
- $0
- Deferred
- $0 + $7,354 related
- Nontaxable benefits
- $0 + $28,744 related
- Filer's total
- $0 + $239,546 related
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
None.
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
The filer's explanations (Part III)
- PART I, LINE 3
- COMPENSATION FOR THE PRESIDENT/CEO AND THE CFO IS SET BY A RELATED ORGANIZATION, SHARON TOWERS. SHARON TOWERS 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'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
No itemized grants to organizations on this return.
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.
-
PRESBYTERIAN HOME AT CHARLOTTE INC
501(C)(3) · RETIREMENT COMMUNITY · NC
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 10 May 2023
- IRS schema version
- 2022v5.0
- Source object
- 202311329349304086
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