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Nonprofiteer
← DEERFIELD EPISCOPAL RETIREMENT COMM INC

Form 990 for tax year 2024

Filed by DEERFIELD EPISCOPAL RETIREMENT COMM INC.

Totals

Total revenue
$55,909,916
Total expenses
$44,614,603
Contributions and grants received
$2,177,634
Grants paid
$148,199
Program service revenue
$44,114,710
Investment income
$9,098,753
Other revenue
$518,819
Total assets, end of year
$294,807,288
Total liabilities, end of year
$173,393,774
Net assets or fund balances, end of year
$121,413,514
Program services expenses (Part IX)
$39,918,851
Management and general expenses
$4,444,548
Fundraising expenses
$251,204
Program service expenses (Part III)
$39,918,851

Program services were 89.5% 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.

  • 1e · Government grants (contributions)

    $1,726,090

  • 1f · All other contributions, gifts and grants

    $451,544

  • 2a · Program service revenue: ADDITIONAL RESIDENT SERVICES

    total $617,560 · related or exempt $617,560

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

    total $10,865,437 · related or exempt $10,865,437

  • 2c · Program service revenue: RESIDENT FEES

    total $32,631,713 · related or exempt $32,631,713

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $3,895,328 · excluded $3,895,328

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7a · Gross sales of assets other than inventory

    securities $5,203,425

  • 7c · Gain or loss

    securities $5,203,425 · other assets $0

  • 7d · Net gain or loss

    total $5,203,425 · excluded $5,203,425

  • 10a · Gross sales of inventory

    $6,905

  • 10b · Cost of goods sold

    $6,410

  • 10c · Net income from sales of inventory

    total $495 · excluded $495

  • 11a · Other revenue: HURRICANE HELENE INSURANCE PROCEEDS

    total $361,188 · excluded $361,188

  • 11b · Other revenue: MISCELLANEOUS REVENUE

    total $157,136 · excluded $157,136

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $518,324

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $148,199 · program services $148,199

  • 5 · Compensation of officers, directors and key employees

    total $1,480,165 · program services $1,018,734 · management and general $438,468 · fundraising $22,963

  • 7 · Other salaries and wages

    total $15,908,312 · program services $13,617,767 · management and general $2,146,939 · fundraising $143,606

  • 8 · Pension plan contributions

    total $221,900 · program services $157,757 · management and general $60,807 · fundraising $3,336

  • 9 · Other employee benefits

    total $3,098,474 · program services $2,576,296 · management and general $490,905 · fundraising $31,273

  • 10 · Payroll taxes

    total $1,224,675 · program services $1,061,759 · management and general $150,295 · fundraising $12,621

  • 11b · Fees: legal

    total $83,360 · management and general $83,360

  • 11c · Fees: accounting

    total $106,053 · management and general $106,053

  • 11g · Fees: other

    total $3,238,052 · program services $3,229,218 · management and general $0 · fundraising $8,834

  • 12 · Advertising and promotion

    total $170,417 · management and general $165,035 · fundraising $5,382

  • 13 · Office expenses

    total $2,658,251 · program services $1,938,007 · management and general $698,345 · fundraising $21,899

  • 14 · Information technology

    total $101,217 · program services $101,217

  • 16 · Occupancy

    total $3,850,220 · program services $3,850,220

  • 17 · Travel

    total $82,871 · program services $9,872 · management and general $72,999

  • 19 · Conferences, conventions and meetings

    total $62,524 · program services $29,892 · management and general $31,342 · fundraising $1,290

  • 20 · Interest

    total $1,393,034 · program services $1,393,034

  • 22 · Depreciation, depletion and amortization

    total $7,285,804 · program services $7,285,804

  • 23 · Insurance

    total $433,374 · program services $433,374

  • 24a · Other expenses: FOOD

    total $2,507,235 · program services $2,507,235

  • 24b · Other expenses: MEDICAL SUPPLIES

    total $399,203 · program services $399,203

  • 24c · Other expenses: EXPANSION COSTS

    total $67,308 · program services $67,308

  • 24d · Other expenses: RESIDENT EVENTS

    total $50,654 · program services $50,654

  • 24e · All other expenses

    total $43,301 · program services $43,301 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $550 · end of year $10,550

  • 2 · Savings and temporary cash investments

    beginning of year $13,687,264 · end of year $25,315,957

  • 4 · Accounts receivable

    beginning of year $1,903,415 · end of year $3,599,503

  • 5 · Loans and receivables from officers and key people

    end of year $0

  • 6 · Loans and receivables from disqualified persons

    end of year $0

  • 8 · Inventories for sale or use

    beginning of year $132,694 · end of year $133,783

  • 9 · Prepaid expenses and deferred charges

    beginning of year $244,408 · end of year $258,545

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

    $241,602,418

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

    $109,443,933

  • 10c · Land, buildings and equipment, net

    beginning of year $128,889,146 · end of year $132,158,485

  • 11 · Investments: publicly traded securities

    beginning of year $107,300,266 · end of year $117,477,211

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $16,080,190 · end of year $15,853,254

  • 17 · Accounts payable and accrued expenses

    beginning of year $6,991,538 · end of year $7,716,427

  • 19 · Deferred revenue

    beginning of year $109,085,596 · end of year $122,658,212

  • 20 · Tax-exempt bond liabilities

    beginning of year $42,444,595 · end of year $40,339,053

  • 22 · Loans and payables to officers and key people

    end of year $0

  • 25 · Other liabilities

    beginning of year $1,862,329 · end of year $2,680,082

  • 27 · Net assets without donor restrictions

    beginning of year $97,825,530 · end of year $111,465,653

  • 28 · Net assets with donor restrictions

    beginning of year $10,028,345 · end of year $9,947,861

Mission and programs · 2024

Mission

DEERFIELD IS FAITH-BASED, NONPROFIT, OPEN TO ALL, AND PROVIDES A CONTINUUM OF SERVICES TO EMPOWER RESIDENTS TO LIVE LIFE TO THE FULLEST. WE ENRICH THE LIVES OF THOSE WHO LIVE AND WORK AT DEERFIELD AND COMMIT TO BE A LEADER IN THE FIELD OF AGING SERVICES.

Activities or mission (Part I)

LIFETIME CARE IN A RELIGIOUS ATMOSPHERE.

  • DEERFIELD EPISCOPAL RETIREMENT COMMUNITY, INC. ("DEERFIELD"), A NORTH CAROLINA NONPROFIT CORPORATION, WAS ORGANIZED FOR THE PURPOSE OF OPERATING A CONTINUING CARE RETIREMENT COMMUNITY. DEERFIELD IS GOVERNED BY A BOARD OF DIRECTORS, WHICH IS COMPOSED OF INDEPENDENT CIVIC LEADERS WHO SERVE WITHOUT COMPENSATION. REV. RUL. 72-124, 1972-1 C.B. 145, SETS OUT REQUIREMENTS THAT "HOMES FOR THE AGED" MUST MEET TO QUALIFY FOR SECTION 501(C)(3) EXEMPTION. THE INTERNAL REVENUE SERVICE PROVIDED THE FOLLOWING REQUIREMENTS: (1) SATISFACTION OF THE NEED FOR HOUSING THROUGH THE PROVISION OF EMOTIONAL, RECREATIONAL, SOCIAL, RELIGIOUS, AND SIMILAR NEEDS OF AGED PERSONS; (2) SATISFACTION OF THE NEED FOR HEALTH CARE THROUGH PROVISION OF PHYSICAL AND MENTAL HEALTH SERVICES DIRECTLY OR THROUGH CONTINUING ARRANGEMENTS WITH OUTSIDE ORGANIZATIONS; AND (3) SATISFACTION OF THE NEED FOR FINANCIAL SECURITY THROUGH MAINTAINING IN RESIDENCE ANY PERSONS WHO BECOME UNABLE TO PAY THEIR REGULAR CHARGE AND THROUGH PROVIDING SERVICES AT THE LOWEST FEASIBLE COST. DEERFIELD SATISFIES ALL THREE REQUIREMENTS. IN CONJUNCTION WITH ITS COMMITMENT TO MAINTAINING PERSONS IN RESIDENCE WHO BECOME UNABLE TO PAY, DEERFIELD HAS ESTABLISHED A BENEVOLENT ASSISTANCE FUND, WHICH IS USED FOR THE EXCLUSIVE PURPOSE OF PROVIDING ASSISTANCE TO RESIDENTS IN NEED. SUCH RESIDENTS ARE IDENTIFIED BASED ON FINANCIAL INFORMATION OBTAINED FROM THE RESIDENT AND SUBSEQUENT REVIEW AND ANALYSIS. DURING THE YEAR ENDED SEPTEMBER 30, 2025 THE CHARGES FORGONE RELATED TO DEERFIELD'S BENEVOLENT ASSISTANCE PROGRAM WERE APPROXIMATELY $136,000. EXCEPT FOR SOME PRE-EXISTING FEE-FOR-SERVICE CONTRACTS, DEERFIELD OPERATES UNDER THE "LIFE CARE" CONCEPT WHEREBY RESIDENTS ENTER INTO AN AGREEMENT WITH THE ORGANIZATION THAT SPECIFIES THE SERVICES AND FACILITIES TO BE PROVIDED TO THE RESIDENT OVER HIS OR HER REMAINING LIFE. THE AGREEMENT REQUIRES PAYMENT OF A ONE-TIME ENTRANCE FEE AND DEERFIELD'S MONTHLY SERVICE FEES. UNDER THE AGREEMENT, DEERFIELD HAS THE ABILITY TO INCREASE FEES AS DEEMED NECESSARY. IN FURTHERANCE OF ITS CHARITABLE PURPOSE, DEERFIELD PROVIDES MEETING AND OFFICE SPACE FOR THREE NON-PROFIT ORGANIZATIONS ON ITS GROUNDS. THE ANNUAL RENTAL INCOME FOREGONE IS VALUED AT AN ESTIMATED $333,000 DURING THE YEAR ENDED SEPTEMBER 30, 2025. DEERFIELD ALSO PROVIDES NUMEROUS COMMUNITY BENEFITS WHICH INCLUDE CHARITABLE DONATIONS AND DONATED VOLUNTEER SERVICES IN THE AMOUNTS OF $1,782,000 DURING THE YEAR ENDED SEPTEMBER 30, 2025.

    Expenses $39,918,851 · Grants $148,199 · Revenue $44,114,710

As filed on the 2024 return.

Listed in Part VII

  • Eugene Carr

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Glenn Mayes

    TREASURER

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Rev Todd Donatelli

    CHAIR

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Robert Kieffer

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Bill Clontz

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Brenda Nash

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Chris Dismukes

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Fred Koon

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Julie Todd

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Karen Kellow

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Lori McCann

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Pat Patterson

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Roba Whiteley

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • The Rt Rev Jose McLoughlin

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Tom Owens

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Faith Perkins

    CHRO

    Total calculated
    $288,306
    From this org
    $267,020
    From related orgs
    $0
    Other
    $21,286
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $203,250
    Bonus
    $52,450
    Other
    $11,320
    Deferred
    $0
    Nontaxable benefits
    $21,286
    Filer's total
    $288,306

  • Keith Einsmann

    COO

    Total calculated
    $263,255
    From this org
    $236,579
    From related orgs
    $0
    Other
    $26,676
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $187,146
    Bonus
    $38,450
    Other
    $10,983
    Deferred
    $4,732
    Nontaxable benefits
    $21,944
    Filer's total
    $263,255

  • Libby Bush

    CEO

    Total calculated
    $509,757
    From this org
    $459,251
    From related orgs
    $0
    Other
    $50,506
    Hours/week
    40 + 2 related

    Schedule J breakdown matched by us

    Base
    $374,231
    Bonus
    $85,020
    Other
    $0
    Deferred
    $33,777
    Nontaxable benefits
    $16,729
    Filer's total
    $509,757

  • Robert Chandler

    CFO

    Total calculated
    $349,235
    From this org
    $318,056
    From related orgs
    $0
    Other
    $31,179
    Hours/week
    40 + 2 related

    Schedule J breakdown matched by us

    Base
    $253,056
    Bonus
    $65,000
    Other
    $0
    Deferred
    $9,542
    Nontaxable benefits
    $21,637
    Filer's total
    $349,235

  • Matt Sharpe

    EXECUTIVE DIRECTOR

    Total calculated
    $205,237
    From this org
    $199,259
    From related orgs
    $0
    Other
    $5,978
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $183,385
    Bonus
    $6,450
    Other
    $9,424
    Deferred
    $5,978
    Nontaxable benefits
    $0
    Filer's total
    $205,237

  • Brian King

    DIRECTOR OF HEALTH SERVICES

    Total calculated
    $196,449
    From this org
    $170,844
    From related orgs
    $0
    Other
    $25,605
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $143,378
    Bonus
    $19,900
    Other
    $7,566
    Deferred
    $5,125
    Nontaxable benefits
    $20,480
    Filer's total
    $196,449

  • Cindy Clampett

    DIRECTOR OF NURSING

    Total calculated
    $170,377
    From this org
    $159,742
    From related orgs
    $0
    Other
    $10,635
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $124,048
    Bonus
    $13,150
    Other
    $22,544
    Deferred
    $0
    Nontaxable benefits
    $10,635
    Filer's total
    $170,377

  • Kate Phillips

    DIRECTOR OF ACCOUNTING

    Total calculated
    $180,055
    From this org
    $153,506
    From related orgs
    $0
    Other
    $26,549
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $136,154
    Bonus
    $12,195
    Other
    $5,157
    Deferred
    $4,605
    Nontaxable benefits
    $21,944
    Filer's total
    $180,055

  • Kathy Foster

    DIRECTOR OF MARKETING

    Total calculated
    $154,560
    From this org
    $139,733
    From related orgs
    $0
    Other
    $14,827
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $96,813
    Bonus
    $42,920
    Other
    $0
    Deferred
    $4,192
    Nontaxable benefits
    $10,635
    Filer's total
    $154,560

  • Taryn Tindall

    DIRECTOR OF WELLBEING

    Total calculated
    $149,766
    From this org
    $135,079
    From related orgs
    $0
    Other
    $14,687
    Hours/week
    40

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 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 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)

SCHEDULE J, PART I, LINE 4B SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN
ROBERT CHANDLER, CFO AND LIBBY BUSH, CEO PARTICIPATE IN A SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN. THE BOARD INCLUDES THE AMOUNT IN THEIR ANNUAL COMPENSATION REVIEW AND APPROVAL PROCESS. DURING CALENDAR YEAR 2024, UNDER THE TERMS OF THE PLAN $0 WAS ACCRUED FOR ROBERT CHANDLER, CFO AND 20,000 WAS ACCRUED FOR LIBBY BUSH, CEO.

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.

Provenance

Return type
form_990
Tax year
2024
Filed
17 August 2026
IRS schema version
2024v5.1
Source object
202622299349302392

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