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Nonprofiteer
← RIVERWOODS GROUP

Form 990 for tax year 2023

Filed by RIVERWOODS GROUP.

Totals

Total revenue
$8,865,157
Total expenses
$9,271,375
Contributions and grants received
$6,396
Grants paid
$0
Program service revenue
$7,895,092
Investment income
$963,669
Other revenue
$0
Total assets, end of year
$24,855,117
Total liabilities, end of year
$3,529,337
Net assets or fund balances, end of year
$21,325,780
Program services expenses (Part IX)
$5,424,514
Management and general expenses
$3,846,861
Fundraising expenses
$0
Program service expenses (Part III)
$5,424,514

Program services were 58.5% 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.

  • 1f · All other contributions, gifts and grants

    $6,396

  • 2a · Program service revenue: MANAGEMENT FEE

    total $3,069,116 · related or exempt $3,069,116

  • 2b · Program service revenue: ADMINISTRATIVE FEE

    total $2,608,216 · related or exempt $2,608,216

  • 2c · Program service revenue: IT FEE

    total $2,217,760 · related or exempt $2,217,760

  • 3 · Investment income

    total $718,999 · excluded $718,999

  • 7a · Gross sales of assets other than inventory

    securities $7,945,545

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

    securities $7,700,875

  • 7c · Gain or loss

    securities $244,670

  • 7d · Net gain or loss

    total $244,670 · excluded $244,670

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $957,656 · management and general $957,656

  • 7 · Other salaries and wages

    total $5,565,546 · program services $4,108,777 · management and general $1,456,769

  • 8 · Pension plan contributions

    total $139,331 · program services $102,377 · management and general $36,954

  • 9 · Other employee benefits

    total $460,650 · program services $318,060 · management and general $142,590

  • 10 · Payroll taxes

    total $448,603 · program services $291,592 · management and general $157,011

  • 11b · Fees: legal

    total $39,348 · program services $29,511 · management and general $9,837

  • 11c · Fees: accounting

    total $17,997 · management and general $17,997

  • 11f · Fees: investment management

    total $30,157 · management and general $30,157

  • 11g · Fees: other

    total $176,142 · program services $75,626 · management and general $100,516

  • 12 · Advertising and promotion

    total $263,909 · program services $224,323 · management and general $39,586

  • 13 · Office expenses

    total $70,793 · program services $13,186 · management and general $57,607

  • 14 · Information technology

    total $294,068 · management and general $294,068

  • 16 · Occupancy

    total $112,434 · management and general $112,434

  • 17 · Travel

    total $181,969 · program services $27,295 · management and general $154,674

  • 20 · Interest

    total $9,321 · program services $271 · management and general $9,050

  • 22 · Depreciation, depletion and amortization

    total $167,421 · program services $142,308 · management and general $25,113

  • 23 · Insurance

    total $3,782 · management and general $3,782

  • 24a · Other expenses: RETENTION AND RECRUITME

    total $229,040 · program services $80,117 · management and general $148,923

  • 24b · Other expenses: DUES AND SUBSCRIPTIONS

    total $47,078 · management and general $47,078

  • 24c · Other expenses: BOARD RELATIONS

    total $30,324 · management and general $30,324

  • 24d · Other expenses: COMMUNITY RELATIONS

    total $22,115 · program services $11,071 · management and general $11,044

  • 24e · All other expenses

    total $3,691 · management and general $3,691

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,004,832 · end of year $10,655

  • 2 · Savings and temporary cash investments

    beginning of year $25,889 · end of year $2,765,297

  • 4 · Accounts receivable

    beginning of year $23,210 · end of year $22,359

  • 8 · Inventories for sale or use

    beginning of year $289,213 · end of year $246,224

  • 9 · Prepaid expenses and deferred charges

    beginning of year $165,009 · end of year $98,470

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

    $1,019,308

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

    $319,468

  • 10c · Land, buildings and equipment, net

    beginning of year $409,362 · end of year $699,840

  • 11 · Investments: publicly traded securities

    beginning of year $15,764,026 · end of year $15,731,837

  • 15 · Other assets

    beginning of year $3,729,984 · end of year $5,280,435

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,407,009 · end of year $1,780,175

  • 23 · Secured mortgages and notes payable

    beginning of year $16,945 · end of year $1,742,830

  • 25 · Other liabilities

    beginning of year $0 · end of year $6,332

  • 27 · Net assets without donor restrictions

    beginning of year $20,987,571 · end of year $21,325,780

Mission and programs · 2023

Mission

THE MISSION OF THE RIVERWOODS GROUP (TRWG) IS TO PLAN, COORDINATE, IMPLEMENT & FURTHER THE MISSIONS OF THE RIVERWOODS COMPANY AT EXETER NEW HAMPSHIRE (RWE), BIRCH HILL TERRACE (BH) DBA RIVERWOODS MANCHESTER (RWM), RIVERWOODS DURHAM (RWD), & OTHER POTENTIAL FUTURE PARTICIPANTS.

Activities or mission (Part I)

TO PLAN, COORDINATE, IMPLEMENT AND FURTHER THE MISSIONS OF THE RIVERWOODS GROUP SYSTEM ENTITIES.

  • SUPPORT RWE: THIS PROGRAM CURRENTLY INCLUDES TWO PRIMARY FUNCTIONS:(1) TO CENTRALIZE THE ADMINISTRATIVE AND MANAGEMENT FUNCTIONS FOR THE THREE COMMUNITIES(2) TO EXPLORE OPPORTUNITIES FOR EXPANSION, AND PLAN FOR AND IMPLEMENT AN INTEGRATED SYSTEM OF NON-PROFIT, CHARITABLE CONTINUING CARE RETIREMENT COMMUNITIES

    Expenses $2,630,068 · Revenue $4,157,692

  • SUPPORT RWD: THIS PROGRAM CURRENTLY INCLUDES TWO PRIMARY FUNCTIONS:(1) TO CENTRALIZE THE ADMINISTRATIVE AND MANAGEMENT FUNCTIONS FOR THE CAMPUS(2) TO EXPLORE OPPORTUNITIES FOR EXPANSION, AND PLAN FOR AND IMPLEMENT AN INTEGRATED SYSTEM OF NON-PROFIT, CHARITABLE CONTINUING CARE RETIREMENT COMMUNITIES

    Expenses $1,657,932 · Revenue $2,192,948

  • SUPPORT RWM: THIS PROGRAM CURRENTLY INCLUDES TWO PRIMARY FUNCTIONS:(1) TO CENTRALIZE THE ADMINISTRATIVE AND MANAGEMENT FUNCTIONS FOR THE CAMPUS(2) TO EXPLORE OPPORTUNITIES FOR EXPANSION, AND PLAN FOR AND IMPLEMENT AN INTEGRATED SYSTEM OF NON-PROFIT, CHARITABLE CONTINUING CARE RETIREMENT COMMUNITIES

    Expenses $1,136,514 · Revenue $1,544,452

As filed on the 2023 return.

Listed in Part VII

  • Justine Vogel

    CEO

    Total calculated
    $545,232
    From this org
    $504,915
    From related orgs
    $0
    Other
    $40,317
    Hours/week
    37.6 + 2.4 related

    Schedule J breakdown matched by us

    Base
    $420,038
    Bonus
    $71,994
    Other
    $12,883
    Deferred
    $11,644
    Nontaxable benefits
    $28,673
    Filer's total
    $545,232

  • Kevin Goyette

    CFO

    Total calculated
    $358,129
    From this org
    $349,077
    From related orgs
    $0
    Other
    $9,052
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $299,960
    Bonus
    $34,778
    Other
    $14,339
    Deferred
    $9,052
    Nontaxable benefits
    $0
    Filer's total
    $358,129

  • David Lafferty

    CIO

    Total calculated
    $296,851
    From this org
    $260,181
    From related orgs
    $0
    Other
    $36,670
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $218,731
    Bonus
    $41,450
    Other
    $0
    Deferred
    $7,997
    Nontaxable benefits
    $28,673
    Filer's total
    $296,851

  • Kimberly Gaskell

    VP OF OPERATIONS

    Total calculated
    $276,929
    From this org
    $260,341
    From related orgs
    $0
    Other
    $16,588
    Hours/week
    15 + 25 related

    Schedule J breakdown matched by us

    Base
    $219,849
    Bonus
    $35,050
    Other
    $5,442
    Deferred
    $6,314
    Nontaxable benefits
    $10,274
    Filer's total
    $276,929

  • Cathleen Toomey

    VP MARKETING

    Total calculated
    $268,449
    From this org
    $251,888
    From related orgs
    $0
    Other
    $16,561
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $216,100
    Bonus
    $27,588
    Other
    $8,200
    Deferred
    $6,787
    Nontaxable benefits
    $9,774
    Filer's total
    $268,449

  • Cynthia Martin

    VP OF QUALITY

    Total calculated
    $259,222
    From this org
    $244,969
    From related orgs
    $0
    Other
    $14,253
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $218,732
    Bonus
    $20,235
    Other
    $6,002
    Deferred
    $3,979
    Nontaxable benefits
    $10,274
    Filer's total
    $259,222

  • John Bowe

    VP OF HUMAN RESOURCES

    Total calculated
    $253,832
    From this org
    $227,260
    From related orgs
    $0
    Other
    $26,572
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $202,716
    Bonus
    $19,225
    Other
    $5,319
    Deferred
    $6,891
    Nontaxable benefits
    $19,681
    Filer's total
    $253,832

  • Patty Prue

    CHAIR

    Total calculated
    $0
    Hours/week
    1.5

  • Janet Bamberg

    VICE-CHAIR

    Total calculated
    $0
    Hours/week
    1.5

  • Tammy Michaud

    TREASURER

    Total calculated
    $0
    Hours/week
    1.5

  • Kathy Anderson

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1.5

  • Phil Ryan

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1.5

  • Kate Skouteris

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1.5

  • Dave Brownell

    TRUSTEE (JOINED JUNE 2024)

    Total calculated
    $0
    Hours/week
    1.5

  • Steve McPherson

    TRUSTEE (LEFT JUNE 2024)

    Total calculated
    $0
    Hours/week
    1.5

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 · Form 990 of other organizations
  • 3 · Written employment contract
  • 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
ANY BONUS PAYMENT IS UP TO THE DISCRETION OF THE EMPLOYEE'S SENIOR LEADER. ANY BONUSES PAID TO SENIOR LEADERSHIP ARE ALSO SUBJECT TO REVIEW BY THE CEO. THE BONUS DETERMINATION IS BASED ON AN ANALYSIS OF THE EMPLOYEE'S PERFORMANCE DURING THE YEAR AND IS SUBJECT TO THE BUDGETARY CONSTRAINTS OF THE ORGANIZATION. THE BONUS PAID WAS INCLUDED IN 2023 W-2 COMPENSATION, AND AS SUCH IS REPORTED ON FORM 990, PART VII, COLUMN D AND SCHEDULE J, PART II, COLUMN B(II) AS FOLLOWS: JUSTINE VOGEL, CEO - $71,994 DAVID LAFFERTY, CIO - $41,450 KIMBERLY GASKELL, VP OF OPERATIONS - $35,050 KEVIN GOYETTE, CFO - $34,778 CATHLEEN TOOMEY, VP MARKETING - $27,588 CYNTHIA MARTIN, VP OF QUALITY - $20,235 JOHN BOWE, VP OF HUMAN RESOURCES - $19,225

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.

  • THE RIVERWOODS COMPANY AT EXETER NEW HAMPSHIRE

    501(C)(3) · ESTABLISH, OWN AND MAINTAIN A CONTINUING CARE RETIREMENT COMMUNITY · NH · controlled entity

    Directly controlled by THE RIVERWOODS GROUP

  • RIVERWOODS DURHAM

    501(C)(3) · ESTABLISH, OWN AND MAINTAIN A CONTINUING CARE RETIREMENT COMMUNITY · NH · controlled entity

    Directly controlled by THE RIVERWOODS GROUP

  • BIRCH HILL TERRACE

    501(C)(3) · ESTABLISH, OWN AND MAINTAIN A CONTINUING CARE RETIREMENT COMMUNITY · NH · controlled entity

    Directly controlled by THE RIVERWOODS GROUP

  • WOMEN'S AID HOME DBA PEARL MANOR

    501(C)(3) · PROVIDE SUPPORT FOR BIRCH HILL TERRACE · NH · controlled entity

    Directly controlled by BIRCH HILL TERRACE

Provenance

Return type
form_990
Tax year
2023
Filed
8 November 2024
IRS schema version
2023v5.1
Source object
202443169349302364

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