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Nonprofiteer
← LIFE CARE PONTE VEDRA INC

Form 990 for tax year 2023

Filed by LIFE CARE PONTE VEDRA INC.

Totals

Total revenue
$47,154,928
Total expenses
$42,836,632
Contributions and grants received
$3,350,820
Grants paid
$97,598
Program service revenue
$42,548,857
Investment income
$1,144,480
Other revenue
$110,771
Total assets, end of year
$256,493,568
Total liabilities, end of year
$288,122,784
Net assets or fund balances, end of year
-$31,629,216
Program services expenses (Part IX)
$38,168,716
Management and general expenses
$4,667,916
Fundraising expenses
$0
Program service expenses (Part III)
$38,168,716

Program services were 89.1% 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)

    $3,350,820

  • 2a · Program service revenue: RESIDENTIAL SERVICE FEES

    total $23,685,169 · related or exempt $23,685,169

  • 2b · Program service revenue: EARNED ENTRANCE FEES

    total $11,409,649 · related or exempt $11,409,649

  • 2c · Program service revenue: HEALTHCARE SERVICE FEES

    total $4,394,240 · related or exempt $4,394,240

  • 2d · Program service revenue: ASSISTED LIVING SERVICE FEES

    total $1,921,521 · related or exempt $1,921,521

  • 2e · Program service revenue: HOME HEALTH SERVICE FEES

    total $1,138,278 · related or exempt $1,138,278

  • 3 · Investment income

    total $1,507,650 · excluded $1,507,650

  • 7a · Gross sales of assets other than inventory

    securities $134,482

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

    securities $0 · other assets $497,652

  • 7c · Gain or loss

    securities $134,482 · other assets -$497,652

  • 7d · Net gain or loss

    total -$363,170 · excluded -$363,170

  • 11a · Other revenue: OTHER INCOME

    total $110,771 · related or exempt $110,771

  • 11e · Other revenue, total

    $110,771

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $23,975 · program services $23,975

  • 2 · Grants to domestic individuals

    total $73,623 · program services $73,623

  • 5 · Compensation of officers, directors and key employees

    total $242,319 · program services $234,747 · management and general $7,572

  • 7 · Other salaries and wages

    total $11,276,382 · program services $10,742,579 · management and general $533,803

  • 8 · Pension plan contributions

    total $186,737 · program services $175,996 · management and general $10,741

  • 9 · Other employee benefits

    total $1,641,282 · program services $1,547,590 · management and general $93,692

  • 10 · Payroll taxes

    total $885,061 · program services $812,609 · management and general $72,452

  • 11a · Fees: management

    total $1,628,072 · program services $561,706 · management and general $1,066,366

  • 11b · Fees: legal

    total $196,093 · management and general $196,093

  • 11c · Fees: accounting

    total $59,256 · management and general $59,256

  • 11f · Fees: investment management

    total $139,625 · management and general $139,625

  • 11g · Fees: other

    total $1,559,324 · program services $1,432,467 · management and general $126,857

  • 12 · Advertising and promotion

    total $46,041 · program services $6,868 · management and general $39,173

  • 13 · Office expenses

    total $65,882 · program services $1,026 · management and general $64,856

  • 14 · Information technology

    total $701,676 · management and general $701,676

  • 16 · Occupancy

    total $5,248,893 · program services $4,476,280 · management and general $772,613

  • 17 · Travel

    total $36,582 · program services $1,824 · management and general $34,758

  • 19 · Conferences, conventions and meetings

    total $40,430 · program services $40,430

  • 20 · Interest

    total $4,197,176 · program services $4,168,926 · management and general $28,250

  • 22 · Depreciation, depletion and amortization

    total $10,458,568 · program services $10,341,707 · management and general $116,861

  • 23 · Insurance

    total $599,632 · program services $267,255 · management and general $332,377

  • 24a · Other expenses: FOOD AND BEVERAGE

    total $2,073,885 · program services $2,073,885

  • 24b · Other expenses: SUPPLIES AND EQUIPMENT

    total $1,128,676 · program services $1,058,529 · management and general $70,147

  • 24c · Other expenses: EMPLOYEE RELATIONS

    total $211,377 · program services $115,927 · management and general $95,450

  • 24d · Other expenses: DUES & SUBSCRIPTIONS

    total $55,442 · program services $10,767 · management and general $44,675

  • 24e · All other expenses

    total $60,623 · management and general $60,623

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,911,658 · end of year $3,766,181

  • 2 · Savings and temporary cash investments

    beginning of year $424,967 · end of year $435,936

  • 4 · Accounts receivable

    beginning of year $754,316 · end of year $918,403

  • 8 · Inventories for sale or use

    beginning of year $112,907 · end of year $217,955

  • 9 · Prepaid expenses and deferred charges

    beginning of year $616,515 · end of year $599,263

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

    $236,669,193

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

    $66,045,664

  • 10c · Land, buildings and equipment, net

    beginning of year $143,293,860 · end of year $170,623,529

  • 12 · Investments: other securities

    beginning of year $56,343,856 · end of year $43,249,340

  • 14 · Intangible assets

    beginning of year $55,987 · end of year $0

  • 15 · Other assets

    beginning of year $38,039,405 · end of year $36,682,961

  • 17 · Accounts payable and accrued expenses

    beginning of year $5,976,246 · end of year $3,551,307

  • 19 · Deferred revenue

    beginning of year $86,345,589 · end of year $125,864,558

  • 20 · Tax-exempt bond liabilities

    beginning of year $119,027,574 · end of year $109,555,662

  • 24 · Unsecured notes and loans payable

    beginning of year $14,412,771 · end of year $0

  • 25 · Other liabilities

    beginning of year $56,044,581 · end of year $49,151,257

  • 27 · Net assets without donor restrictions

    beginning of year -$38,253,290 · end of year -$31,629,216

Mission and programs · 2023

Mission

THE MISSION OF LIFE CARE PONTE VEDRA, INC. IS TO PROVIDE FOR THE HOUSING, PHYSICAL, EMOTIONAL, RECREATIONAL, SOCIAL, RELIGIOUS, HEALTH CARE AND FINANCIAL SECURITY NEEDS OF THE ELDERLY THROUGH THE OPERATION OF A CONTINUING CARE RETIREMENT COMMUNITY KNOWN AS VICAR'S LANDING.

Activities or mission (Part I)

OPERATION OF A CONTINUING CARE RETIREMENT COMMUNITY TO PROVIDE HOUSING AND SERVICES TO RESIDENTS.

  • LIFE CARE PONTE VEDRA, INC. ("LCPV") IS A NOT-FOR-PROFIT CORPORATION, WHICH PROVIDES HOUSING, HEALTHCARE, AND OTHER RELATED SERVICES TO SENIOR ADULTS THROUGH THE OPERATION OF TWO RETIREMENT COMMUNITIES KNOWN AS VICAR'S LANDING LOCATED PONTE VEDRA BEACH, FLORIDA. THE VICAR'S LANDING AT SAWGRASS RETIREMENT COMMUNITY ("SAWGRASS") OPENED IN 1987 AND CONSISTS OF 227 INDEPENDENT RESIDENTIAL UNITS, 38 ASSISTED LIVING UNITS, AND A 60-BED SKILLED NURSING CENTER. SEE ADDITIONAL INFORMATION ON SCHEDULE O.THE VICAR'S LANDING AT OAK BRIDGE RETIREMENT COMMUNITY ("OAK BRIDGE") OPENED IN AUGUST 2022 AND WHEN PHASE I OF THE EXPANSION IS COMPLETED WILL INCLUDE 109 INDEPENDENT LIVING UNITS. PHASE II OF THE OAK BRIDGE CAMPUS HAS STARTED AND INCLUDES AN ADDITIONAL 33 INDEPENDENT UNITS ANTICIPATED TO BE COMPLETED IN THE SPRING OF 2024, AND REMAINING PHASES WILL INCLUDE INDEPENDENT LIVING UNITS AND ASSISTED LIVING/MEMORY CARE UNITS AND RELATED COMMON AREAS ON AN APPROXIMATELY 42-ACRE PARCEL OF LAND LOCATED LESS THAN ONE MILE FROM THE SAWGRASS CAMPUS.THE SOLE CORPORATE MEMBER OF LCPV IS LIFE CARE PASTORAL SERVICES, INC. (LCPS). LCPS IS ALSO THE SOLE CORPORATE MEMBER OF LCPS MANAGEMENT, INC. LCPS MANAGEMENT PROVIDES MANAGEMENT, OPERATIONAL, AND ADMINISTRATIVE SERVICES FOR THE ORGANIZATION AND OTHER LCPS ENTITIES.

    Expenses $38,168,716 · Grants $97,598 · Revenue $42,659,628

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Mike Shepherd

    CHAIR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Christine Ng

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Kent New

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Missy Dekay

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Rob Stursberg

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Steve Crosby

    FINANCE CHAIR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Tom Reeder

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • D Bruce Jones

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $382,292
    From this org
    $0
    From related orgs
    $346,246
    Other
    $36,046
    Hours/week
    20 + 21 related

    Schedule J breakdown matched by us

    Base
    $0 + $346,246 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $21,183 related
    Nontaxable benefits
    $0 + $14,863 related
    Filer's total
    $0 + $382,292 related

  • Dale Pirkle

    CHIEF OPERATING OFFICER

    Total calculated
    $251,821
    From this org
    $0
    From related orgs
    $251,821
    Other
    $0
    Hours/week
    33.1 + 6.9 related

    Schedule J breakdown matched by us

    Base
    $0 + $251,821 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $251,821 related

  • Darren Roy

    CHIEF FINANCIAL OFFICER

    Total calculated
    $275,801
    From this org
    $0
    From related orgs
    $243,483
    Other
    $32,318
    Hours/week
    24 + 16 related

    Schedule J breakdown matched by us

    Base
    $0 + $243,483 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $21,697 related
    Nontaxable benefits
    $0 + $10,621 related
    Filer's total
    $0 + $275,801 related

  • Kendall Bryan

    DIRECTOR OF HEALTH SERVICE

    Total calculated
    $227,501
    From this org
    $0
    From related orgs
    $197,501
    Other
    $30,000
    Hours/week
    33 + 7 related

    Schedule J breakdown matched by us

    Base
    $0 + $197,501 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $30,000 related
    Nontaxable benefits
    $0
    Filer's total
    $0 + $227,501 related

  • Theresa M Crosby

    DIRECTOR OF SALES AND MARK

    Total calculated
    $242,319
    From this org
    $220,787
    From related orgs
    $0
    Other
    $21,532
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $220,787
    Bonus
    $0
    Other
    $0
    Deferred
    $9,246
    Nontaxable benefits
    $12,286
    Filer's total
    $242,319

  • Kristina Diaz

    DIRECTOR OF NURSING

    Total calculated
    $117,532
    From this org
    $104,507
    From related orgs
    $0
    Other
    $13,025
    Hours/week
    40

  • Alexis Gonzales

    DIRECTOR OF THERAPY

    Total calculated
    $127,000
    From this org
    $122,115
    From related orgs
    $0
    Other
    $4,885
    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

The filer's explanations (Part III)

PART I, LINE 3
THE FILING ORGANIZATION'S OFFICERS ARE COMPENSATED BY A RELATED 501(C)(3) ORGANIZATION, LCPS MANAGEMENT, INC. THE FOLLOWING METHODS ARE UTILIZED BY LCPS MANAGEMENT, INC. TO ESTABLISH COMPENSATION FOR THE CHIEF EXECUTIVE OFFICER: - COMPENSATION COMMITTEE; AND - APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE.

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.

  • LIFE CARE PASTORAL SERVICES INC

    501(C)(3) · HOLDING ORGANIZATION · FL

  • LCPS MANAGEMENT INC

    501(C)(3) · MANAGEMENT SERVICES · FL

    Directly controlled by LIFE CARE PASTORAL SERVICES INC

  • LEND AN EAR OUTREACH INC

    501(C)(3) · PROVISION OF HEARING DEVICES TO THE NEEDY · FL

    Directly controlled by LIFE CARE PASTORAL SERVICES INC

  • VICAR'S LANDING FOUNDATION INC

    501(C)(3) · FUNDRAISING · FL · controlled entity

    Directly controlled by LIFE CARE PONTE VEDRA INC

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.

  • VICAR'S LANDING AT OAK BRIDGE LLC

    DEVELOPMENT OF COMMUNITY EXPANSION · FL · income $8,947,789 · assets $164,727,360

    Directly controlled by LIFE CARE PONTE VEDRA INC

Provenance

Return type
form_990
Tax year
2023
Filed
16 September 2024
IRS schema version
2023v5.1
Source object
202412609349302506

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