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Nonprofiteer
← LAKE PRINCE CENTER INC

Form 990 for tax year 2022

Filed by LAKE PRINCE CENTER INC.

Totals

Total revenue
$15,077,811
Total expenses
$15,095,643
Contributions and grants received
$148,444
Grants paid
$0
Program service revenue
$14,417,072
Investment income
$75,511
Other revenue
$436,784
Total assets, end of year
$30,704,700
Total liabilities, end of year
$49,056,831
Net assets or fund balances, end of year
-$18,352,131
Program services expenses (Part IX)
$9,838,430
Management and general expenses
$5,257,213
Fundraising expenses
$0
Program service expenses (Part III)
$9,838,430

Program services were 65.2% 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

    $148,444

  • 2a · Program service revenue: RESIDENT SERVICES

    total $13,338,625 · related or exempt $13,338,625

  • 2b · Program service revenue: HOME CARE

    total $1,078,447 · related or exempt $1,078,447

  • 3 · Investment income

    total $76,608 · excluded $76,608

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

    other assets $1,097

  • 7c · Gain or loss

    other assets -$1,097

  • 7d · Net gain or loss

    total -$1,097 · related or exempt -$1,097

  • 11a · Other revenue: OTHER NON-OPERATING RE

    total $190,769 · related or exempt $190,769

  • 11b · Other revenue: OUTSIDE SERVICE REVENU

    total $143,922 · related or exempt $143,922

  • 11c · Other revenue: CATERING/MEAL SERVICES

    total $64,162 · related or exempt $64,162

  • 11d · All other revenue

    total $37,931 · related or exempt $37,931

  • 11e · Other revenue, total

    $436,784

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $5,614,570 · program services $4,960,188 · management and general $654,382

  • 8 · Pension plan contributions

    total $159,152 · program services $159,152

  • 9 · Other employee benefits

    total $731,470 · program services $730,311 · management and general $1,159

  • 10 · Payroll taxes

    total $419,633 · program services $419,633

  • 11a · Fees: management

    total $907,797 · management and general $907,797

  • 11b · Fees: legal

    total $3,620 · management and general $3,620

  • 11f · Fees: investment management

    total $6,617 · management and general $6,617

  • 11g · Fees: other

    total $312,981 · program services $312,981

  • 12 · Advertising and promotion

    total $124,829 · program services $3,721 · management and general $121,108

  • 13 · Office expenses

    total $163,016 · program services $23,462 · management and general $139,554

  • 14 · Information technology

    total $215,468 · program services $21,277 · management and general $194,191

  • 16 · Occupancy

    total $1,016,070 · program services $632,693 · management and general $383,377

  • 17 · Travel

    total $43,768 · program services $40,789 · management and general $2,979

  • 20 · Interest

    total $832,608 · management and general $832,608

  • 22 · Depreciation, depletion and amortization

    total $1,701,552 · management and general $1,701,552

  • 23 · Insurance

    total $219,373 · management and general $219,373

  • 24a · Other expenses: SUPPLIES

    total $1,214,032 · program services $1,214,032

  • 24b · Other expenses: CONTRACTED SERVICES

    total $532,381 · program services $527,377 · management and general $5,004

  • 24c · Other expenses: REPAIRS AND MAINTENANCE

    total $486,252 · program services $486,252

  • 24d · Other expenses: CONSULTING FEES

    total $252,429 · program services $234,904 · management and general $17,525

  • 24e · All other expenses

    total $138,025 · program services $71,658 · management and general $66,367

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,000 · end of year $1,000

  • 2 · Savings and temporary cash investments

    beginning of year $38,646 · end of year $40,214

  • 4 · Accounts receivable

    beginning of year $709,398 · end of year $871,816

  • 8 · Inventories for sale or use

    beginning of year $32,007 · end of year $35,175

  • 9 · Prepaid expenses and deferred charges

    beginning of year $80,831 · end of year $66,609

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

    $66,817,188

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

    $42,045,688

  • 10c · Land, buildings and equipment, net

    beginning of year $16,873,111 · end of year $24,771,500

  • 11 · Investments: publicly traded securities

    beginning of year $1,436,065 · end of year $1,488,277

  • 15 · Other assets

    beginning of year $2,934,525 · end of year $3,430,109

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,389,039 · end of year $2,221,568

  • 19 · Deferred revenue

    beginning of year $17,108,228 · end of year $21,749,239

  • 20 · Tax-exempt bond liabilities

    beginning of year $18,316,588 · end of year $21,957,426

  • 25 · Other liabilities

    beginning of year $3,626,027 · end of year $3,128,598

  • 27 · Net assets without donor restrictions

    beginning of year -$18,334,299 · end of year -$18,352,131

Mission and programs · 2022

Mission

A CHRISTIAN MINISTRY PROVIDING VIBRANT LIVING, DIVERSE PROGRAMS OF OUTREACH AND COMPASSIONATE CARE

Activities or mission (Part I)

A CHRISTIAN MINISTRY PROVIDING VIBRANT LIVING, DIVERSE EDUCATION PROGRAMS OF OUTREACH AND COMPASSIONATE SERVICES.

  • CONTINUING CARE RETIREMENT COMMUNITY IN SUFFOLK, VA. PROVIDING LONG TERM CARE FOR THE ELDERLY CONSISTING OF NURSING, MEALS, LAUNDRY, RECREATION, AND OTHER SERVICES FOR RESIDENTS.

    Expenses $9,838,430 · Revenue $14,852,759

As filed on the 2022 return.

Listed in Part VII

  • Julius Abernethy

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.1 + 0.9 related

  • Gregory Alcorn

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.1 + 2.4 related

  • Larry Bolick

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.1 + 1.9 related

  • Anthony Branch

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.1 + 1.4 related

  • Jeff Gilliam

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.1 + 1.4 related

  • Gene Hamilton

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.1 + 1.4 related

  • Parker Howell

    CHAIR

    Total calculated
    $0
    Hours/week
    0.1 + 2.4 related

  • Hunter March

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.1 + 0.9 related

  • Shane Smith

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.1 + 0.9 related

  • Brad Thie

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    0.1 + 2.4 related

  • Cory Tobin

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.1 + 0.9 related

  • Margie Wiley

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.1 + 0.9 related

  • Kelsey McCleave

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.1 + 1.9 related

  • Kathy Wood

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.1 + 2.4 related

  • Lee Syria

    PRESIDENT AND CEO

    Total calculated
    $479,561
    From this org
    $0
    From related orgs
    $434,680
    Other
    $44,881
    Hours/week
    0.1 + 39.9 related

    Schedule J breakdown matched by us

    Base
    $0 + $434,680 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $41,000 related
    Nontaxable benefits
    $0 + $3,881 related
    Filer's total
    $0 + $479,561 related

  • John White

    CFO (ENDED 11/2022)

    Total calculated
    $280,833
    From this org
    $0
    From related orgs
    $244,552
    Other
    $36,281
    Hours/week
    0.1 + 39.9 related

    Schedule J breakdown matched by us

    Base
    $0 + $244,552 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $22,882 related
    Nontaxable benefits
    $0 + $13,399 related
    Filer's total
    $0 + $280,833 related

  • Tammy Jones

    CFO (STARTED 2/2023)

    Total calculated
    $0
    Hours/week
    0.1 + 39.9 related

  • Judy Raymond

    EXECUTIVE DIRECTOR

    Total calculated
    $243,797
    From this org
    $212,343
    From related orgs
    $0
    Other
    $31,454
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $212,343
    Bonus
    $0
    Other
    $0
    Deferred
    $27,646
    Nontaxable benefits
    $3,808
    Filer's total
    $243,797

  • Brandi Spivey

    ADMINISTRATOR HOME HEALTH

    Total calculated
    $111,661
    From this org
    $100,318
    From related orgs
    $0
    Other
    $11,343
    Hours/week
    40

  • Tammy Garrett

    DIRECTOR OF MARKETING

    Total calculated
    $128,545
    From this org
    $122,424
    From related orgs
    $0
    Other
    $6,121
    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

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

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.

  • EVERYAGE

    501(C)(3) · CONTINUING CARE RETIREMENT COMMUNITY · NC

  • ALBEMARLE OLDER ADULT HOUSING INC

    501(C)(3) · APARTMENT FACILITY FOR THE ELDERLY · NC

    Directly controlled by EVERYAGE

  • STATESVILLE ELDERLY HOUSING INC

    501(C)(3) · APARTMENT FACILITY FOR THE ELDERLY · NC

    Directly controlled by EVERYAGE

  • CAROLINA SENIOR LIVING

    501(C)(3) · APARTMENT FACILITY FOR THE ELDERLY · NC

    Directly controlled by EVERYAGE

  • EVERYAGE FOUNDATION

    501(C)(3) · FUND AND SUPPORT THE OPERATIONS AND PROGRAMS OF EVERYAGE · NC

    Directly controlled by EVERYAGE

  • EA HOLDING

    501(C)(3) · SUPPORT THE OPERATIONS AND PROGRAMS OF EVERYAGE · NC

    Directly controlled by EVERYAGE

  • ELDERHAUS

    501(C)(3) · PROGRAM OF DAY CARE AND HEALTH SERVICES FOR THE ELDERLY · NC

    Directly controlled by CAROLINA SENIORCARE

  • CAROLINA SENIORCARE

    501(C)(3) · PROGRAM OF ALL-INCLUSIVE CARE FOR THE ELDERLY · NC

    Directly controlled by EVERYAGE

  • NEW BERN OLDER ADULT HOUSING

    501(C)(3) · APARTMENT FACILITY FOR THE ELDERLY · NC

    Directly controlled by EVERYAGE

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.

  • LAKE PRINCE AT HOME LLC

    HOME CARE SERVICES · NC · income $1,078,447 · assets $566,598

    Directly controlled by LAKE PRINCE CENTER INC

Provenance

Return type
form_990
Tax year
2022
Filed
14 August 2024
IRS schema version
2022v5.0
Source object
202412289349300226

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