Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 3 · Investment income

  total $281,851 · excluded $281,851

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

  securities $3

• 7c · Gain or loss

  securities -$3

• 7d · Net gain or loss

  total -$3 · excluded -$3

Functional expenses

Part IX, the statement of functional expenses.

• 7 · Other salaries and wages

  total $155,769 · management and general $155,769

• 11b · Fees: legal

  total $164,188 · management and general $164,188

• 11c · Fees: accounting

  total $6,645 · management and general $6,645

• 11f · Fees: investment management

  total $7,500 · management and general $7,500

• 11g · Fees: other

  total $125 · management and general $125

• 12 · Advertising and promotion

  total $90 · management and general $90

• 17 · Travel

  total $1,605 · management and general $1,605

• 19 · Conferences, conventions and meetings

  total $3,470 · management and general $3,470

• 24a · Other expenses: DUES

  total $23,272 · management and general $23,272

• 24b · Other expenses: BANK FEES

  total $2,499 · management and general $2,499

• 24c · Other expenses: REFRESHMENTS

  total $62 · management and general $62

Balance sheet

Part X, book values.

• 2 · Savings and temporary cash investments

  beginning of year $214,320 · end of year $212,469

• 9 · Prepaid expenses and deferred charges

  beginning of year $133,463

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

  $4,800,000

• 10c · Land, buildings and equipment, net

  beginning of year $4,800,000 · end of year $4,800,000

• 11 · Investments: publicly traded securities

  beginning of year $11,658,305 · end of year $17,583,350

• 15 · Other assets

  beginning of year $18,480,116 · end of year $15,469,068

• 27 · Net assets without donor restrictions

  beginning of year $35,286,204 · end of year $38,064,887

The filer's explanations (Part III)

PART I, LINE 3

THE OFFICERS AND KEY EMPLOYEES OF THE ORGANIZATION ARE PAID BY GOODWIN HOUSE INCORPORATED, A RELATED ORGANIZATION. GOODWIN HOUSE INCORPORATED USES AN INDEPENDENT COMPENSATION CONSULTANT, COMPARATIVE COMPENSATION STUDIES, AND THE FORM 990 OF OTHER ORGANIZATIONS TO ESTABLISH COMPENSATION FOR OFFICERS AND KEY EMPLOYEES. WE ALSO RECENTLY PURCHASED A PRODUCT THAT ALLOWS US TO BENCHMARK THE MARKET. THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES CONDUCTS AN ANNUAL REVIEW OF THE PERFORMANCE AND COMPENSATION OF THE PRESIDENT AND CEO; RESULTS OF THE PERFORMANCE REVIEW AND WAGE ANALYSIS ARE SHARED WITH THE FULL BOARD, AND THE BOARD OF TRUSTEES ESTABLISHES THE COMPENSATION OF THE PRESIDENT AND CEO BASED ON THE DATA PRESENTED. ON A REGULAR (NOT ANNUAL) BASIS, AN OUTSIDE CONSULTANT IS RETAINED TO EVALUATE THE WAGES OF OTHER KEY EMPLOYEES, SUCH AS WAGES OF THE CFO, COO, CHIEF PHILANTHROPY OFFICER, CHIEF PEOPLE OFFICER, CHIEF BUSINESS DEVELOPMENT OFFICER, AND CHIEF MARKETING & STRATEGY OFFICER. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2023.

PART I, LINE 4B

THERE WERE NO DEFERRALS FOR THE CALENDAR YEAR 2023. THERE WERE NO DISTRIBUTIONS FOR THE CALENDAR YEAR 2023.

PART I, LINE 5

A RELATED ORGANIZATION, GOODWIN HOUSE INCORPORATED, HAS IN PLACE A SUPPLEMENTAL COMPENSATION PLAN FOR ITS EXECUTIVE LEADERSHIP TEAM. AWARDS MADE UNDER THIS PLAN ARE BASED ON THE ATTAINMENT OF A NUMBER OF ORGANIZATIONAL GOALS, BOTH QUANTITATIVE AND QUALITATIVE. AMONG THESE GOALS ARE FINANCIAL TARGETS RELATED TO THE ACHIEVEMENT OF PLANNED LEVELS OF MANAGEMENT-CONTROLLABLE REVENUES AND EXPENSES.

Related corporations and trusts

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

• GOODWIN HOUSE COMMUNITY SERVICES

  C · MGMT SERVICES TO NON-PROFIT RETIREMENT COMMUNITIES · VA

  Directly controlled by GHI