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Nonprofiteer
← RETIREMENT HOUSING FOUNDATION

Form 990 for tax year 2023

Filed by RETIREMENT HOUSING FOUNDATION.

Totals

Total revenue
$42,118,324
Total expenses
$26,718,964
Contributions and grants received
$19,090,910
Grants paid
$4,967,423
Program service revenue
$18,613,650
Investment income
$4,413,764
Other revenue
$0
Total assets, end of year
$226,932,871
Total liabilities, end of year
$17,899,209
Net assets or fund balances, end of year
$209,033,662
Program services expenses (Part IX)
$24,394,889
Management and general expenses
$2,151,340
Fundraising expenses
$172,735
Program service expenses (Part III)
$24,394,889

Program services were 91.3% 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

    $19,086,910

  • 1f · All other contributions, gifts and grants

    $4,000

  • 2a · Program service revenue: PROGRAM MANAGMENT FEES

    total $16,776,084 · related or exempt $16,776,084

  • 2b · Program service revenue: DEVELOPMENT FEES

    total $1,826,134 · related or exempt $1,826,134

  • 2c · Program service revenue: RENTAL REVENUE

    total $11,432 · related or exempt $11,432

  • 3 · Investment income

    total $4,413,764 · excluded $4,413,764

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $4,967,423 · program services $4,967,423

  • 5 · Compensation of officers, directors and key employees

    total $3,615,724 · program services $3,615,724

  • 7 · Other salaries and wages

    total $6,737,854 · program services $6,326,562 · management and general $291,644 · fundraising $119,648

  • 8 · Pension plan contributions

    total $172,536 · program services $160,444 · management and general $8,412 · fundraising $3,680

  • 9 · Other employee benefits

    total $865,723 · program services $783,790 · management and general $55,296 · fundraising $26,637

  • 10 · Payroll taxes

    total $1,670,228 · program services $1,637,792 · management and general $23,017 · fundraising $9,419

  • 11b · Fees: legal

    total $674,224 · management and general $674,224

  • 11c · Fees: accounting

    total $213,550 · management and general $213,550

  • 11g · Fees: other

    total $928,039 · program services $914,519 · management and general $13,520

  • 12 · Advertising and promotion

    total $25,843 · management and general $25,013 · fundraising $830

  • 13 · Office expenses

    total $816,351 · program services $544,564 · management and general $269,619 · fundraising $2,168

  • 16 · Occupancy

    total $54,974 · program services $54,974

  • 17 · Travel

    total $434,086 · program services $368,763 · management and general $59,901 · fundraising $5,422

  • 19 · Conferences, conventions and meetings

    total $577,880 · program services $574,292 · management and general $3,075 · fundraising $513

  • 20 · Interest

    total $996,990 · program services $996,990

  • 22 · Depreciation, depletion and amortization

    total $298,918 · program services $298,918

  • 23 · Insurance

    total $374,122 · program services $27,340 · management and general $346,769 · fundraising $13

  • 24a · Other expenses: BAD DEBTS

    total $2,400,000 · program services $2,400,000

  • 24b · Other expenses: LICENSES, DUES AND SUBS

    total $526,314 · program services $382,938 · management and general $139,289 · fundraising $4,087

  • 24c · Other expenses: NON ALLOCABLE PROJECT E

    total $187,702 · program services $187,687 · management and general $15

  • 24d · Other expenses: OUTSIDE TRAINING

    total $76,902 · program services $70,964 · management and general $5,620 · fundraising $318

  • 24e · All other expenses

    total $103,581 · program services $81,205 · management and general $22,376

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $19,597 · end of year $19,597

  • 2 · Savings and temporary cash investments

    beginning of year $38,425,232 · end of year $53,877,010

  • 4 · Accounts receivable

    beginning of year $640 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $535,078 · end of year $386,991

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,306,077 · end of year $2,044,075

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

    $13,181,724

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

    $8,215,887

  • 10c · Land, buildings and equipment, net

    beginning of year $6,265,848 · end of year $4,965,837

  • 11 · Investments: publicly traded securities

    beginning of year $99,958,482 · end of year $103,690,859

  • 13 · Investments: program-related

    beginning of year $60,854,199 · end of year $61,948,502

  • 17 · Accounts payable and accrued expenses

    beginning of year $5,851,026 · end of year $2,464,638

  • 23 · Secured mortgages and notes payable

    beginning of year $84,282 · end of year $34,424

  • 25 · Other liabilities

    beginning of year $13,219,797 · end of year $15,400,147

  • 27 · Net assets without donor restrictions

    beginning of year $188,210,048 · end of year $209,033,662

Mission and programs · 2023

Mission

TO PROVIDE AFFORDABLE HOUSING AND SERVICE COORDINATION FOR PERSONS WITH LIMITED INCOMES IN AN INCLUSIVE ENVIRONMENT THAT ENHANCES THEIR QUALITY OF LIFE PHYSICALLY, MENTALLY, AND SPIRITUALLY.

Activities or mission (Part I)

TO DEVELOP & MANAGE LOW INCOME AND ASSISTED LIVING HOUSING COMMUNITIES AND SKILLED NURSING FACILITIES.

  • RETIREMENT HOUSING FOUNDATION PROVIDES DEVELOPMENT AND MANAGEMENT EXPERTISE, EITHER DIRECTLY OR THROUGH AFFILIATED NONPROFIT CORPORATIONS, IN THE FIELD OF AFFORDABLE HOUSING AND SERVICES FOR LOW AND VERY LOW INCOME FAMILIES AND THE ELDERLY. THE CORPORATION ALSO PROVIDES ASSISTED LIVING AND SKILLED NURSING FACILITIES IN ADDITION TO MANY OF THE LOW & VERY LOW INCOME HOUSING FACILITIES. THE CORPORATION SERVES OVER 20,000 RESIDENTS/PATIENTS IN 29 STATES INCLUDING THE VIRGIN ISLANDS, PUERTO RICO & THE DISTRICT OF COLUMBIA. THE CORPORATION EMPLOYS APPROXIMATELY 2,800 PEOPLE NATIONWIDE.

    Expenses $24,394,889 · Grants $4,967,423 · Revenue $18,613,650

As filed on the 2023 return.

Listed in Part VII

  • DESAEGHER NORMA N

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5 + 0.2 related

  • EAST RAYMOND E

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5 + 0.2 related

  • MOYER DAVID S

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5 + 0.2 related

  • POLLOCK JEFFREY R

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5 + 0.2 related

  • POTTER CHRISTINA E

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5 + 0.2 related

  • HARTMAN STUART J

    PRESIDENT/CEO

    Total calculated
    $685,724
    From this org
    $617,596
    From related orgs
    $0
    Other
    $68,128
    Hours/week
    40 + 0.2 related

    Schedule J breakdown matched by us

    Base
    $609,196
    Bonus
    $0
    Other
    $8,400
    Deferred
    $37,497
    Nontaxable benefits
    $30,631
    Filer's total
    $685,724

  • FOX BUCHAN LAURA L

    CORP SEC & DIR OF CORP RECORDS

    Total calculated
    $172,534
    From this org
    $153,750
    From related orgs
    $0
    Other
    $18,784
    Hours/week
    40 + 0.2 related

    Schedule J breakdown matched by us

    Base
    $153,750
    Bonus
    $0
    Other
    $0
    Deferred
    $4,509
    Nontaxable benefits
    $14,275
    Filer's total
    $172,534

  • ROSSELLO FRANK JR

    CFO AND VP OF FINANCE

    Total calculated
    $403,817
    From this org
    $378,582
    From related orgs
    $0
    Other
    $25,235
    Hours/week
    40 + 0.2 related

    Schedule J breakdown matched by us

    Base
    $375,582
    Bonus
    $0
    Other
    $3,000
    Deferred
    $10,960
    Nontaxable benefits
    $14,275
    Filer's total
    $403,817

  • AMBERG ROBERT R

    EXECUTIVE VP GEN COUNSEL

    Total calculated
    $489,502
    From this org
    $440,286
    From related orgs
    $0
    Other
    $49,216
    Hours/week
    40 + 0.2 related

    Schedule J breakdown matched by us

    Base
    $434,286
    Bonus
    $0
    Other
    $6,000
    Deferred
    $34,941
    Nontaxable benefits
    $14,275
    Filer's total
    $489,502

  • FARD BOB J

    VP ACQUIS AND PROJ DEV

    Total calculated
    $281,127
    From this org
    $259,219
    From related orgs
    $0
    Other
    $21,908
    Hours/week
    40 + 0.2 related

    Schedule J breakdown matched by us

    Base
    $254,419
    Bonus
    $0
    Other
    $4,800
    Deferred
    $7,633
    Nontaxable benefits
    $14,275
    Filer's total
    $281,127

  • MAGNONE VINCENT B

    VP TREASURY & INVSTMT OFF

    Total calculated
    $283,260
    From this org
    $246,158
    From related orgs
    $0
    Other
    $37,102
    Hours/week
    40 + 0.2 related

    Schedule J breakdown matched by us

    Base
    $243,758
    Bonus
    $0
    Other
    $2,400
    Deferred
    $7,398
    Nontaxable benefits
    $29,704
    Filer's total
    $283,260

  • NAPIERSKIE DAVID W

    VP HEALTH CARE OPERATIONS

    Total calculated
    $531,790
    From this org
    $0
    From related orgs
    $490,455
    Other
    $41,335
    Hours/week
    40 + 0.2 related

    Schedule J breakdown matched by us

    Base
    $0 + $240,358 related
    Bonus
    $0 + $245,297 related
    Other
    $0 + $4,800 related
    Deferred
    $0
    Nontaxable benefits
    $0 + $41,335 related
    Filer's total
    $0 + $531,790 related

  • BATTAGLIA NADA

    VP HUMAN RESOURCES

    Total calculated
    $288,839
    From this org
    $242,093
    From related orgs
    $0
    Other
    $46,746
    Hours/week
    40 + 0.2 related

    Schedule J breakdown matched by us

    Base
    $239,093
    Bonus
    $0
    Other
    $3,000
    Deferred
    $20,597
    Nontaxable benefits
    $26,149
    Filer's total
    $288,839

  • TITUS STEPHANIE L

    VP PHILANTHROPY/CSO

    Total calculated
    $288,833
    From this org
    $239,642
    From related orgs
    $0
    Other
    $49,191
    Hours/week
    40 + 0.2 related

    Schedule J breakdown matched by us

    Base
    $236,642
    Bonus
    $0
    Other
    $3,000
    Deferred
    $7,099
    Nontaxable benefits
    $42,092
    Filer's total
    $288,833

  • GILCHRIST KEVIN DARRELL

    VP DEVELOPMENT FINANCE

    Total calculated
    $277,179
    From this org
    $228,362
    From related orgs
    $0
    Other
    $48,817
    Hours/week
    40 + 0.2 related

    Schedule J breakdown matched by us

    Base
    $224,162
    Bonus
    $0
    Other
    $4,200
    Deferred
    $6,725
    Nontaxable benefits
    $42,092
    Filer's total
    $277,179

  • CLOW JOHN C

    VP RISK MANAGEMENT

    Total calculated
    $227,978
    From this org
    $209,162
    From related orgs
    $0
    Other
    $18,816
    Hours/week
    40 + 0.2 related

    Schedule J breakdown matched by us

    Base
    $206,162
    Bonus
    $0
    Other
    $3,000
    Deferred
    $6,185
    Nontaxable benefits
    $12,631
    Filer's total
    $227,978

  • PURCELL CHRISTOPHER

    CONTROLLER

    Total calculated
    $216,931
    From this org
    $197,200
    From related orgs
    $0
    Other
    $19,731
    Hours/week
    40 + 0.2 related

    Schedule J breakdown matched by us

    Base
    $197,200
    Bonus
    $0
    Other
    $0
    Deferred
    $6,027
    Nontaxable benefits
    $13,704
    Filer's total
    $216,931

  • MICKELSON LAVONNE R

    DIR OF AFFORD HOUSING OPS

    Total calculated
    $189,381
    From this org
    $184,618
    From related orgs
    $0
    Other
    $4,763
    Hours/week
    40 + 0.2 related

    Schedule J breakdown matched by us

    Base
    $180,418
    Bonus
    $0
    Other
    $4,200
    Deferred
    $4,763
    Nontaxable benefits
    $0
    Filer's total
    $189,381

  • STECKBECK KENT

    BUDGET & ANALYTICS DIR

    Total calculated
    $183,013
    From this org
    $177,682
    From related orgs
    $0
    Other
    $5,331
    Hours/week
    40 + 0.2 related

    Schedule J breakdown matched by us

    Base
    $177,682
    Bonus
    $0
    Other
    $0
    Deferred
    $5,331
    Nontaxable benefits
    $0
    Filer's total
    $183,013

  • ROBINSON TINA M

    VP HOUSING ACCOUNTING

    Total calculated
    $193,805
    From this org
    $177,323
    From related orgs
    $0
    Other
    $16,482
    Hours/week
    40 + 0.2 related

    Schedule J breakdown matched by us

    Base
    $177,323
    Bonus
    $0
    Other
    $0
    Deferred
    $3,900
    Nontaxable benefits
    $12,582
    Filer's total
    $193,805

  • PHELPS LORI ANN

    INFO SYSTEMS DIRECTOR

    Total calculated
    $178,269
    From this org
    $173,077
    From related orgs
    $0
    Other
    $5,192
    Hours/week
    40 + 0.2 related

    Schedule J breakdown matched by us

    Base
    $173,077
    Bonus
    $0
    Other
    $0
    Deferred
    $5,192
    Nontaxable benefits
    $0
    Filer's total
    $178,269

  • SILVA JOANNE L

    VP OCCUPANCY & TAX CREDIT

    Total calculated
    $190,698
    From this org
    $166,856
    From related orgs
    $0
    Other
    $23,842
    Hours/week
    40 + 0.2 related

    Schedule J breakdown matched by us

    Base
    $164,456
    Bonus
    $0
    Other
    $2,400
    Deferred
    $11,667
    Nontaxable benefits
    $12,175
    Filer's total
    $190,698

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

  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

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

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

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.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

Related partnerships

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

Related corporations and trusts

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

Provenance

Return type
form_990
Tax year
2023
Filed
1 April 2025
IRS schema version
2023v6.0
Source object
202510919349301421

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