Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: MANAGEMENT FEES

  total $8,055,010 · related or exempt $8,055,010

• 3 · Investment income

  total $736,537 · excluded $736,537

• 6a · Gross rents

  real property $467,107

• 6b · Less rental expenses

  real property $625,919

• 6c · Rental income or loss

  real property -$158,812

• 6d · Net rental income or loss

  total -$158,812 · unrelated business -$158,812

• 7a · Gross sales of assets other than inventory

  securities $1,426,732

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

  securities $1,416,763

• 7c · Gain or loss

  securities $9,969

• 7d · Net gain or loss

  total $9,969 · excluded $9,969

• 11a · Other revenue: REFUNDS

  total $40,088 · excluded $40,088

• 11e · Other revenue, total

  $40,088

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $3,949,192 · management and general $3,949,192

• 7 · Other salaries and wages

  total $3,680,235 · management and general $3,680,235

• 8 · Pension plan contributions

  total $142,299 · management and general $142,299

• 9 · Other employee benefits

  total $404,985 · management and general $404,985

• 10 · Payroll taxes

  total $448,346 · management and general $448,346

• 11b · Fees: legal

  total $91,658 · management and general $91,658

• 11c · Fees: accounting

  total $263,025 · management and general $263,025

• 11f · Fees: investment management

  total $13,674 · management and general $13,674

• 11g · Fees: other

  total $870,889 · management and general $870,889

• 12 · Advertising and promotion

  total $588 · management and general $588

• 13 · Office expenses

  total $543,450 · management and general $543,450

• 14 · Information technology

  total $1,538,975 · management and general $1,538,975

• 16 · Occupancy

  total $25,243 · management and general $25,243

• 17 · Travel

  total $473,465 · management and general $473,465

• 19 · Conferences, conventions and meetings

  total $179,823 · management and general $179,823

• 20 · Interest

  total $72,431 · management and general $72,431

• 22 · Depreciation, depletion and amortization

  total $158,440 · management and general $158,440

• 24a · Other expenses: DUES & SUBSCRIPTIONS

  total $85,680 · management and general $85,680

• 24b · Other expenses: SERVICE CHARGES

  total $22,675 · management and general $22,675

• 24c · Other expenses: GOLF EXPENSES

  total $3,566 · management and general $3,566

• 24d · Other expenses: SUPPLIES

  total $1,172 · management and general $1,172

• 24e · All other expenses

  total $25,652 · management and general $25,652

Balance sheet

Part X, book values.

• 2 · Savings and temporary cash investments

  beginning of year $14,907,253 · end of year $6,134,077

• 4 · Accounts receivable

  beginning of year $7,455,892 · end of year $9,160,422

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

  $14,538,757

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

  $1,016,147

• 10c · Land, buildings and equipment, net

  beginning of year $13,414,234 · end of year $13,522,610

• 11 · Investments: publicly traded securities

  beginning of year $9,638,271 · end of year $8,617,459

• 15 · Other assets

  beginning of year $52,021,659 · end of year $50,516,864

• 17 · Accounts payable and accrued expenses

  beginning of year $3,394,044 · end of year $4,753,342

• 23 · Secured mortgages and notes payable

  beginning of year $4,221,916 · end of year $3,982,598

• 27 · Net assets without donor restrictions

  beginning of year $89,821,349 · end of year $79,215,492

The filer's explanations (Part III)

PART I, LINE 3

COMPENSATION PAID BY BHI RETIREMENT COMMUNITIES IS DETERMINED BY THE REVIEW AND APPROVAL OF THE BOARD WHICH INCLUDES CONTEMPORANEOUS SUBSTANTIATION OF THE DELIBERATION AND DECISION.

PART I, LINE 4B

NONQUALIFIED RETIREMENT PLAN: A 457(F) DEFERRED COMPENSATION PLAN WAS SET UP FOR JOHN DATTILO AND ROGER WEIDEMAN IN APRIL OF 2019. JOHN DATTILO'S PLAN BEGINS VESTING IN 2031 AND ROGER WEIDEMAN'S PLAN BEGINS VESTING IN 2034.

PART I, LINE 7

THE PERSONNEL NOMINATING COMMITTEE RECOMMENDS DISCRETIONARY BONUSES FOR THE TOP MANAGEMENT OFFICIALS, THAT ARE APPROVED BY THE FULL BOARD AS PART OF THE BUDGET PROCESS. IN THE PROCESS, THEY CONSIDER RESULTS FROM SURVEYS, PROJECTS, AND BOND ISSUES. THE REVIEW WAS CONDUCTED IN NOVEMBER 2024.

Related partnerships

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

• WESLEY MANOR SOUTHSIDE LP

  SENIOR LIVING · IN · general or managing partner

• HEART IN HOME OF INDIANA LLC

  UNRELATED · SENIOR LIVING · IN · 50% owned · share of income -$187,847 · share of assets $1,513,874 · general or managing partner

  Directly controlled by BHI HOME CARE

Related corporations and trusts

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

• SLDEVELOPMENT INC

  C · GOLF COURSE · IN · 100% owned · share of income $3,631,512 · share of assets $6,950,868 · controlled entity

  Directly controlled by BHI RETIREMENT COMMUNITIES INC

• BHI HOME CARE INC

  C · HOME CARE · IN · 100% owned · share of income $682 · share of assets $1,357,194 · controlled entity

  Directly controlled by BHI RETIREMENT COMMUNITIES INC