Skip to content
Nonprofiteer
← SEQUOIA LIVING INC

Form 990 for tax year 2022

Filed by SEQUOIA LIVING INC.

Totals

Total revenue
$113,242,367
Total expenses
$104,652,167
Contributions and grants received
$4,772,180
Grants paid
$0
Program service revenue
$98,239,337
Investment income
$9,803,960
Other revenue
$426,890
Total assets, end of year
$422,410,239
Total liabilities, end of year
$231,669,451
Net assets or fund balances, end of year
$190,740,788
Program services expenses (Part IX)
$91,804,848
Management and general expenses
$12,157,290
Fundraising expenses
$690,029
Program service expenses (Part III)
$91,804,848

Program services were 87.7% 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

    $2,583,836

  • 1e · Government grants (contributions)

    $2,188,344

  • 2a · Program service revenue: MONTHLY CARE FEES

    total $60,176,919 · related or exempt $60,176,919

  • 2b · Program service revenue: FEES FOR SERVICE TO RESIDENTS

    total $19,369,748 · related or exempt $19,369,748

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

    total $18,692,670 · related or exempt $18,692,670

  • 3 · Investment income

    total $6,671,953 · excluded $6,671,953

  • 7a · Gross sales of assets other than inventory

    securities $22,647,360

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

    securities $19,515,353

  • 7c · Gain or loss

    securities $3,132,007

  • 7d · Net gain or loss

    total $3,132,007 · excluded $3,132,007

  • 11a · Other revenue: OTHER INCOME

    total $426,890 · excluded $426,890

  • 11e · Other revenue, total

    $426,890

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $3,441,181 · management and general $3,441,181

  • 7 · Other salaries and wages

    total $33,883,339 · program services $30,400,639 · management and general $3,105,183 · fundraising $377,517

  • 8 · Pension plan contributions

    total -$2,334,167 · program services -$849,501 · management and general -$1,499,656 · fundraising $14,990

  • 9 · Other employee benefits

    total $7,193,888 · program services $6,955,892 · management and general $130,012 · fundraising $107,984

  • 10 · Payroll taxes

    total $2,236,285 · program services $2,210,320 · fundraising $25,965

  • 11a · Fees: management

    total $398,312 · management and general $398,312

  • 11b · Fees: legal

    total $838,205 · management and general $838,205

  • 11c · Fees: accounting

    total $338,100 · management and general $338,100

  • 11f · Fees: investment management

    total $262,444 · management and general $262,444

  • 11g · Fees: other

    total $27,795,340 · program services $27,173,328 · management and general $622,012

  • 12 · Advertising and promotion

    total $225,852 · program services $225,852

  • 13 · Office expenses

    total $2,701,704 · program services $2,605,764 · management and general $95,940

  • 14 · Information technology

    total $1,250,195 · program services $1,235,298 · management and general $14,897

  • 16 · Occupancy

    total $5,278,193 · program services $4,908,024 · management and general $370,169

  • 17 · Travel

    total $116,367 · program services $114,280 · management and general $2,087

  • 19 · Conferences, conventions and meetings

    total $331,774 · program services $289,683 · management and general $42,091

  • 20 · Interest

    total $2,449,118 · management and general $2,449,118

  • 22 · Depreciation, depletion and amortization

    total $11,298,999 · program services $11,298,999

  • 23 · Insurance

    total $630,454 · management and general $630,454

  • 24a · Other expenses: REPAIR AND MAINTENANCE

    total $2,286,172 · program services $2,153,697 · management and general $132,475

  • 24b · Other expenses: FOOD

    total $725,915 · program services $725,915

  • 24c · Other expenses: OTHER TAXES AND LICENSE

    total $269,068 · management and general $269,068

  • 24d · Other expenses: PUBLIC RELATIONS

    total $119,370 · program services $91,389 · management and general $27,981

  • 24e · All other expenses

    total $2,916,059 · program services $2,265,269 · management and general $487,217 · fundraising $163,573

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $11,269,475 · end of year $9,254,987

  • 4 · Accounts receivable

    beginning of year $41,458,999 · end of year $50,575,665

  • 7 · Other notes and loans receivable

    beginning of year $104,898,390 · end of year $104,898,390

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,584,099 · end of year $1,985,268

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

    $354,770,814

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

    $198,595,749

  • 10c · Land, buildings and equipment, net

    beginning of year $132,837,396 · end of year $156,175,065

  • 11 · Investments: publicly traded securities

    beginning of year $101,775,617 · end of year $73,709,171

  • 12 · Investments: other securities

    beginning of year $12,008,759 · end of year $12,029,358

  • 15 · Other assets

    beginning of year $6,679,836 · end of year $13,782,335

  • 17 · Accounts payable and accrued expenses

    beginning of year $16,591,960 · end of year $17,462,667

  • 19 · Deferred revenue

    beginning of year $128,712,631 · end of year $138,580,664

  • 20 · Tax-exempt bond liabilities

    beginning of year $58,677,891 · end of year $57,025,197

  • 24 · Unsecured notes and loans payable

    beginning of year $3,900,000 · end of year $2,000,000

  • 25 · Other liabilities

    beginning of year $23,660,718 · end of year $16,600,923

  • 27 · Net assets without donor restrictions

    beginning of year $180,969,371 · end of year $190,740,788

Mission and programs · 2022

Mission

SEQUOIA LIVING, INC. WILL, WITHIN ITS HUMAN RESOURCES AND FINANCIAL CAPABILITIES, PROVIDE ORGANIZATIONAL STRUCTURE AND LEADERSHIP TO MEET THE NEEDS AND IMPROVE THE QUALITY OF LIFE OF OLDER PERSONS FROM ALL ECONOMIC LEVELS AND VARIED CULTURAL BACKGROUNDS THROUGH DIVERSIFIED OPERATIONS WHICH OFFER HOUSING AND PROGRAMS OF PHYSICAL, SOCIAL, HEALTH AND SPIRITUAL CARE.

Activities or mission (Part I)

SEQUOIA LIVING, INC. PROVIDES ORGANIZATIONAL STRUCTURE AND LEADERSHIP TO MEET THE NEEDS AND IMPROVE THE QUALITY OF LIFE OF OLDER PERSONS BY OFFERING HOUSING AND PROGRAMS.

  • CONTINUING CARE RETIREMENT COMMUNITIES:SEQUOIA LIVING, INC. PROVIDES APARTMENTS, MEALS, LAUNDRY, HOUSEKEEPING, SOCIAL AND CULTURAL ACTIVITIES, AND MEDICAL CARE FOR AROUND 984 RESIDENTS. NEARLY ALL OCCUPANTS HAVE EXECUTED LIFE CARE RESIDENCE AND CARE AGREEMENTS THAT GIVE THEM ACCESS TO ASSISTED LIVING, DEMENTIA CARE, AND SKILLED NURSING IF NEEDED AS THEY AGE AND BECOME FRAILER. A MAJOR PROBLEM FOR THE ELDERLY IS ISOLATION AND DEPRESSION CAUSED BY ECONOMIC, SOCIAL, AND PHYSICAL BARRIERS TO PARTICIPATION IN ACTIVITIES AND CIVIC LIFE. CONTINUING CARE COMMUNITIES REMOVE THESE BARRIERS AND FACILITATE THE ACTIVE ENGAGEMENT OF RESIDENTS. THEY ALSO SMOOTH OUT DIFFICULT AND DISRUPTIVE TRANSITIONS OCCASIONED WHEN PEOPLE NEED HIGHER LEVELS OF PROFESSIONAL ASSISTANCE. IN THE EVENT THAT A RESIDENT RUNS SHORT OF RESOURCES TO COVER THE COST OF CARE, SEQUOIA LIVING WILL WORK WITH THEM AND THEIR FAMILIES AND THROUGH ITS FOUNDATION, WILL SUBSIDIZE EXPENSES SO THAT RESIDENTS ARE NOT FORCED TO MOVE.

    Expenses $91,804,848 · Revenue $98,239,337

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Michele Stratton

    CHAIR

    Total calculated
    $0
    Hours/week
    0.7 + 0.3 related

  • Dianne Spaulding

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    0.7 + 0.3 related

  • David Jamison

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.7 + 0.3 related

  • Gary Freeman

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.7 + 0.3 related

  • Gayle S Geary

    BOARD MEMBER (THRU 7/22)

    Total calculated
    $0
    Hours/week
    0.7 + 0.3 related

  • Richard Corriea

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.7 + 0.3 related

  • Marianne Lim

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.7 + 0.3 related

  • Nancy Hiroko Mayeda

    BOARD MEMBER (THRU 7/22)

    Total calculated
    $0
    Hours/week
    0.7 + 0.3 related

  • Neal McNamara

    BOARD MEMBER (THRU 7/22)

    Total calculated
    $0
    Hours/week
    0.7 + 0.3 related

  • Patricia Lynn

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.7 + 0.3 related

  • Rex Jamison MD

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.7 + 0.3 related

  • Steven H Herman

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.7 + 0.3 related

  • Val Agostino

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.7 + 0.3 related

  • Sara McVey

    PRESIDENT & CEO

    Total calculated
    $659,370
    From this org
    $624,833
    From related orgs
    $0
    Other
    $34,537
    Hours/week
    36 + 4 related

    Schedule J breakdown matched by us

    Base
    $521,548
    Bonus
    $100,800
    Other
    $2,485
    Deferred
    $23,190
    Nontaxable benefits
    $11,347
    Filer's total
    $659,370

  • Martha Atwood

    CHIEF HR & COMPLIANCE OFFICER

    Total calculated
    $360,425
    From this org
    $314,153
    From related orgs
    $0
    Other
    $46,272
    Hours/week
    36 + 4 related

    Schedule J breakdown matched by us

    Base
    $259,359
    Bonus
    $48,800
    Other
    $5,994
    Deferred
    $11,813
    Nontaxable benefits
    $34,459
    Filer's total
    $360,425

  • Charlie Shoemake

    CHIEF FINANCIAL OFFICER

    Total calculated
    $443,117
    From this org
    $403,845
    From related orgs
    $0
    Other
    $39,272
    Hours/week
    36 + 4 related

    Schedule J breakdown matched by us

    Base
    $328,850
    Bonus
    $58,300
    Other
    $16,695
    Deferred
    $15,471
    Nontaxable benefits
    $23,801
    Filer's total
    $443,117

  • David Latina

    CHIEF BUSINESS DEVELOPMENT OFFICER

    Total calculated
    $332,824
    From this org
    $290,109
    From related orgs
    $0
    Other
    $42,715
    Hours/week
    30 + 10 related

    Schedule J breakdown matched by us

    Base
    $261,657
    Bonus
    $22,800
    Other
    $5,652
    Deferred
    $10,782
    Nontaxable benefits
    $31,933
    Filer's total
    $332,824

  • Glen Alan Goddard

    EXECUTIVE DIRECTOR, SSF

    Total calculated
    $296,169
    From this org
    $271,853
    From related orgs
    $0
    Other
    $24,316
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $236,154
    Bonus
    $30,500
    Other
    $5,199
    Deferred
    $10,144
    Nontaxable benefits
    $14,172
    Filer's total
    $296,169

  • Steve Hieger

    CHIEF INFORMATION SYSTEMS OFFICER

    Total calculated
    $308,913
    From this org
    $274,513
    From related orgs
    $0
    Other
    $34,400
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $226,959
    Bonus
    $35,800
    Other
    $11,754
    Deferred
    $10,599
    Nontaxable benefits
    $23,801
    Filer's total
    $308,913

  • Mark Mizuhara

    VP OF HUMAN RESOURCES

    Total calculated
    $245,413
    From this org
    $236,451
    From related orgs
    $0
    Other
    $8,962
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $192,200
    Bonus
    $36,800
    Other
    $7,451
    Deferred
    $8,900
    Nontaxable benefits
    $62
    Filer's total
    $245,413

  • Elaine Liao

    CONTROLLER

    Total calculated
    $293,859
    From this org
    $252,984
    From related orgs
    $0
    Other
    $40,875
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $198,829
    Bonus
    $35,800
    Other
    $18,355
    Deferred
    $8,405
    Nontaxable benefits
    $32,470
    Filer's total
    $293,859

  • Paul Friesen

    EXECUTIVE DIRECTOR, TMP

    Total calculated
    $326,879
    From this org
    $303,201
    From related orgs
    $0
    Other
    $23,678
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $244,642
    Bonus
    $25,500
    Other
    $33,059
    Deferred
    $0
    Nontaxable benefits
    $23,678
    Filer's total
    $326,879

  • Ray Boudewyn

    VP OF FACILITY MANAGEMENT

    Total calculated
    $240,773
    From this org
    $208,833
    From related orgs
    $0
    Other
    $31,940
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $185,107
    Bonus
    $19,300
    Other
    $4,426
    Deferred
    $7,723
    Nontaxable benefits
    $24,217
    Filer's total
    $240,773

  • Calvin Groeneweg

    VP OF RISK MGMT & CLINICAL SERVICES

    Total calculated
    $206,470
    From this org
    $175,667
    From related orgs
    $0
    Other
    $30,803
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $145,316
    Bonus
    $17,800
    Other
    $12,551
    Deferred
    $7,002
    Nontaxable benefits
    $23,801
    Filer's total
    $206,470

  • Terence Tumbale

    ADMINISTRATOR, THE TAMALPAIS

    Total calculated
    $221,437
    From this org
    $181,948
    From related orgs
    $0
    Other
    $39,489
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $145,469
    Bonus
    $16,500
    Other
    $19,979
    Deferred
    $7,019
    Nontaxable benefits
    $32,470
    Filer's total
    $221,437

  • Sourabh Sing

    LVN

    Total calculated
    $198,342
    From this org
    $180,579
    From related orgs
    $0
    Other
    $17,763
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $178,579
    Bonus
    $2,000
    Other
    $0
    Deferred
    $6,416
    Nontaxable benefits
    $11,347
    Filer's total
    $198,342

  • Zenaida Lorete

    DIRECTOR OF SALES - PV

    Total calculated
    $184,067
    From this org
    $177,191
    From related orgs
    $0
    Other
    $6,876
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $125,151
    Bonus
    $50,000
    Other
    $2,040
    Deferred
    $6,360
    Nontaxable benefits
    $516
    Filer's total
    $184,067

  • Janine Timoteo

    RN

    Total calculated
    $194,805
    From this org
    $177,147
    From related orgs
    $0
    Other
    $17,658
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $174,847
    Bonus
    $2,300
    Other
    $0
    Deferred
    $6,311
    Nontaxable benefits
    $11,347
    Filer's total
    $194,805

  • Samir Patel

    DIRECTOR OF BUSINESS DEVELOPMENT

    Total calculated
    $204,662
    From this org
    $186,447
    From related orgs
    $0
    Other
    $18,215
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $167,093
    Bonus
    $17,500
    Other
    $1,854
    Deferred
    $6,868
    Nontaxable benefits
    $11,347
    Filer's total
    $204,662

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 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 7 · Other non-fixed payments

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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 7
THE NON-FIXED PAYMENTS ARE CONTRACTUALLY DRIVEN BY THE TERMS OF EMPLOYEE EMPLOYMENT AGREEMENTS. THESE ARE AWARDED AND ARE BASED UPON ACCOMPLISHMENT OF KEY DEPARTMENTAL OBJECTIVES AND ARE NOT BASED ON REVENUE OR NET INCOME METRICS.

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.

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.

  • WPA LLC

    PROPERTY MANAGEMENT · CA · income $511 · assets $1,672

    Directly controlled by SEQUOIA LIVING INC

  • TPT LLC

    PROPERTY MANAGEMENT · CA · income $432 · assets $0

    Directly controlled by SEQUOIA LIVING INC

  • EPA LLC

    PROPERTY MANAGEMENT · CA · income $665 · assets $12,000,000

    Directly controlled by SEQUOIA LIVING INC

Related partnerships

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

  • EASTERN PARK APARTMENTS LP

    RELATED · REAL ESTATE · CA · 0.01% owned · share of income -$235 · share of assets $158,312,320 · general or managing partner

    Directly controlled by SEQUOIA LIVING INC

  • TOWN PARK TOWERS LP

    RELATED · REAL ESTATE · CA · 0.01% owned · share of income $17,238 · share of assets $29,064,913 · general or managing partner

    Directly controlled by SEQUOIA LIVING INC

  • WESTERN PARK APARTMENTS LP

    RELATED · REAL ESTATE · CA · 0.01% owned · share of income $1,195 · share of assets $25,746,863 · general or managing partner

    Directly controlled by SEQUOIA LIVING INC

Related corporations and trusts

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

  • SL SENIOR VENTURES LLC

    C · PROPERTY MANAGEMENT · CA · 100% owned · share of income $232,564 · share of assets $501,725 · controlled entity

    Directly controlled by SEQUOIA LIVING INC

Provenance

Return type
form_990
Tax year
2022
Filed
25 October 2023
IRS schema version
2022v5.0
Source object
202342999349302274

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.