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← METHODIST RETIREMENT COMMUNITIES

Form 990 for tax year 2023

Filed by METHODIST RETIREMENT COMMUNITIES.

Totals

Total revenue
$107,251,381
Total expenses
$125,550,613
Contributions and grants received
$2,060,437
Grants paid
$0
Program service revenue
$100,194,932
Investment income
$2,329,474
Other revenue
$2,666,538
Total assets, end of year
$400,169,927
Total liabilities, end of year
$511,605,704
Net assets or fund balances, end of year
-$111,435,777
Program services expenses (Part IX)
$98,602,148
Management and general expenses
$26,948,465
Fundraising expenses
$0
Program service expenses (Part III)
$98,602,148

Program services were 78.5% 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.

  • 1d · Related organizations

    $1,388,375

  • 1e · Government grants (contributions)

    $672,062

  • 2a · Program service revenue: NURSING

    total $34,298,006 · related or exempt $34,298,006

  • 2b · Program service revenue: RESIDENTIAL

    total $33,631,404 · related or exempt $33,631,404

  • 2c · Program service revenue: ASSISTED LIVING

    total $26,524,460 · related or exempt $26,524,460

  • 2d · Program service revenue: ENTRANCE FEE AMORTIZAT

    total $4,259,018 · related or exempt $4,259,018

  • 2e · Program service revenue: HOME HEALTH

    total $1,482,044 · related or exempt $1,482,044

  • 3 · Investment income

    total $1,200,143 · excluded $1,200,143

  • 4 · Income from investment of tax-exempt bond proceeds

    total $1,499,682 · excluded $1,499,682

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

    securities $234,737 · other assets $135,614

  • 7c · Gain or loss

    securities -$234,737 · other assets -$135,614

  • 7d · Net gain or loss

    total -$370,351 · excluded -$370,351

  • 11a · Other revenue: OTHER SETTLEMENTS

    total $1,080,000 · related or exempt $1,080,000

  • 11b · Other revenue: INSURANCE SETTLEMENTS

    total $751,503 · related or exempt $751,503

  • 11c · Other revenue: SALON SERVICES

    total $298,600 · excluded $298,600

  • 11d · All other revenue

    total $536,435 · excluded $536,435

  • 11e · Other revenue, total

    $2,666,538

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $36,520,222 · program services $26,652,674 · management and general $9,867,548

  • 8 · Pension plan contributions

    total $281,219 · program services $188,843 · management and general $92,376

  • 9 · Other employee benefits

    total $3,505,243 · program services $2,353,826 · management and general $1,151,417

  • 10 · Payroll taxes

    total $2,718,920 · program services $1,825,798 · management and general $893,122

  • 11a · Fees: management

    total $4,841,781 · management and general $4,841,781

  • 11b · Fees: legal

    total $519,994 · program services $65,636 · management and general $454,358

  • 11c · Fees: accounting

    total $264,461 · program services $33,381 · management and general $231,080

  • 11g · Fees: other

    total $17,279,712 · program services $16,534,294 · management and general $745,418

  • 12 · Advertising and promotion

    total $1,564,053 · program services $82 · management and general $1,563,971

  • 13 · Office expenses

    total $3,152,214 · program services $1,753,384 · management and general $1,398,830

  • 14 · Information technology

    total $1,405,870 · program services $91,998 · management and general $1,313,872

  • 16 · Occupancy

    total $6,482,094 · program services $6,173,105 · management and general $308,989

  • 17 · Travel

    total $292,060 · program services $53,759 · management and general $238,301

  • 19 · Conferences, conventions and meetings

    total $37,934 · program services $2,482 · management and general $35,452

  • 20 · Interest

    total $15,145,506 · program services $14,261,406 · management and general $884,100

  • 22 · Depreciation, depletion and amortization

    total $17,106,361 · program services $16,107,799 · management and general $998,562

  • 23 · Insurance

    total $3,537,729 · program services $3,414,258 · management and general $123,471

  • 24a · Other expenses: HEALTHCARE

    total $6,896,906 · program services $6,785,910 · management and general $110,996

  • 24b · Other expenses: HEALTHCARE SUPPLIES

    total $1,047,830 · program services $1,030,967 · management and general $16,863

  • 24c · Other expenses: MAINTENANCE

    total $655,040 · program services $624,206 · management and general $30,834

  • 24d · Other expenses: EDUCATIONAL/TRAINING

    total $527,084 · program services $59,664 · management and general $467,420

  • 24e · All other expenses

    total $1,768,380 · program services $588,676 · management and general $1,179,704

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $10,695,915 · end of year $8,506,070

  • 2 · Savings and temporary cash investments

    beginning of year $45,260,223 · end of year $34,717,256

  • 4 · Accounts receivable

    beginning of year $4,685,419 · end of year $10,139,249

  • 7 · Other notes and loans receivable

    beginning of year $3,004,415 · end of year $2,385,112

  • 8 · Inventories for sale or use

    beginning of year $364,213 · end of year $350,725

  • 9 · Prepaid expenses and deferred charges

    beginning of year $691,148 · end of year $1,118,525

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

    $420,275,932

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

    $131,920,490

  • 10c · Land, buildings and equipment, net

    beginning of year $300,709,961 · end of year $288,355,442

  • 11 · Investments: publicly traded securities

    beginning of year $35,549,042 · end of year $37,532,691

  • 14 · Intangible assets

    beginning of year $13,365,923 · end of year $12,900,019

  • 15 · Other assets

    beginning of year $5,784,373 · end of year $4,164,838

  • 17 · Accounts payable and accrued expenses

    beginning of year $12,344,318 · end of year $7,705,693

  • 19 · Deferred revenue

    beginning of year $19,782,035 · end of year $22,359,301

  • 20 · Tax-exempt bond liabilities

    beginning of year $287,205,818 · end of year $273,164,567

  • 23 · Secured mortgages and notes payable

    beginning of year $7,627,572 · end of year $11,620,656

  • 24 · Unsecured notes and loans payable

    beginning of year $12,003,866 · end of year $11,772,364

  • 25 · Other liabilities

    beginning of year $177,063,707 · end of year $184,983,123

  • 27 · Net assets without donor restrictions

    beginning of year -$107,105,145 · end of year -$122,624,238

  • 28 · Net assets with donor restrictions

    beginning of year $11,188,461 · end of year $11,188,461

Mission and programs · 2023

Mission

THE ORGANIZATION IS COMMITTED TO QUALITY LIVING FOR SENIOR ADULTS IN A FAITH-BASED ENVIRONMENT.

Activities or mission (Part I)

SEE SCHEDULE O

  • THE ORGANIZATION PROVIDES SKILLED NURSING SERVICES FOR ITS RESIDENTS AT ITS CCRC LOCATIONS AT MRC TOWNCREEK, MRC CORNERSTONE, MRC CRESTVIEW, MRC PINECREST, HAPPY HARBOR METHODIST HOME INC., AND MRC SENIOR LIVING CORPUS CHRISTI. MRC TOWNCREEK HAS 66 HEALTH CARE BEDS LOCATED IN HUNTSVILLE, TEXAS, MRC CORNERSTONE HAS 40 HEALTH CARE BEDS LOCATED IN TEXARKANA, TEXAS, MRC CRESTVIEW HAS 48 HEALTH CARE BEDS LOCATED IN BRYAN, TEXAS, MRC PINECREST HAS 51 HEALTH CARE BEDS LOCATED IN LUFKIN, TEXAS, HAPPY HARBOR METHODIST HOME, INC. HAS 48 HEALTH CARE BEDS LOCATED IN LEAGUE CITY, TEXAS, AND MRC SENIOR LIVING CORPUS CHRISTI HAS 41 HEALTH CARE BEDS LOCATED IN CORPUS CHRISTI, TEXAS.

    Expenses $25,380,016 · Revenue $36,475,425

  • THE ORGANIZATION PROVIDES INDEPENDENT LIVING SERVICES FOR ITS RESIDENTS AT MRC CORNERSTONE, MRC CRESTVIEW, MRC PINECREST, HAPPY HARBOR METHODIST HOME INC., MRC SENIOR LIVING AT CLEARKLAKE, MRC SENIOR LIVING CORPUS CHRISTI, BAYVIEW SENIOR HOUSING, MRC CRESTVIEW PLACE, MRC CRESTVIEW TERRACE, CRESTVIEW UNITY, AND HAPPY HARBOR SENIOR HOUSING. FIVE OF THE INDEPENDENT LIVING PROPERTIES ARE FINANCED BY HUD WHICH INCLUDE BAYVIEW SENIOR HOUSING, MRC CRESTVIEW PLACE, MRC CRESTVIEW TERRACE, CRESTVIEW UNITY, AND HAPPY HARBOR SENIOR HOUSING. MRC CORNERSTONE HAS 108 INDEPENDENT LIVING UNITS LOCATED IN TEXARKANA, TEXAS, MRC CRESTVIEW HAS 91 INDEPENDENT LIVING UNITS LOCATED IN BRYAN, TEXAS, MRC PINECREST HAS 119 INDEPENDENT LIVING UNITS LOCATED IN LUFKIN, TEXAS, HAPPY HARBOR METHODIST HOME, INC. HAS 116 INDEPENDENT LIVING UNITS LOCATED IN LEAGUE CITY, TEXAS, MRC SENIOR LIVING AT CLEARLAKE HAS 72 INDEPENDENT LIVING UNITS LOCATED IN COLLEGE STATION, TEXAS, MRC SENIOR LIVING CORPUS CHRISTI HAS 125 INDEPENDENT LIVING UNITS LOCATED IN CORPUS CHRISTI, TEXAS, BAYVIEW SENIOR HOUSING HAS 61 INDEPENDENT LIVING UNITS LOCATED IN LAPORTE, TEXAS, MRC CRESTVIEW PLACE HAS 44 INDEPENDENT LIVING UNITS LOCATED IN BRYAN, TEXAS, MRC CRESTVIEW TERRACE HAS 100 INDEPENDENT LIVING UNITS LOCATED IN BRYAN, TEXAS, CRESTVIEW UNITY HAS 63 INDEPENDENT LIVING UNITS LOCATED IN BRYAN, TEXAS, AND HAPPY HARBOR SENIOR HOUSING HAS 51 INDEPENDENT LIVING UNITS LOCATED IN LAPORTE, TEXAS.

    Expenses $45,374,452 · Revenue $35,766,504

  • THE ORGANIZATION PROVIDES ASSISTED LIVING AND MEMORY SUPPORT SERVICES FOR ITS RESIDENTS AT MRC TOWNCREEK, MRC CORNERSTONE, MRC CRESTVIEW, MRC PINECREST, HAPPY HARBOR METHODIST HOME INC., MRC SENIOR LIVING AT CLEARLAKE, AND MRC SENIOR LIVING CORPUS CHRISTI. MRC TOWNCREEK HAS 32 ASSISTED LIVING UNITS AND 18 MEMORY SUPPORT UNITS LOCATED IN HUNTSVILLE, TEXAS, MRC CORNERSTONE HAS 51 ASSISTED LIVING UNITS INCLUDING 36 CERTIFIED UNITS FOR ALZHEIMER'S CARE LOCATED IN TEXARKANA, TEXAS, MRC CRESTVIEW HAS 48 ASSISTED LIVING UNITS AND 18 MEMORY SUPPORT UNITS LOCATED IN BRYAN, TEXAS, MRC PINECREST HAS 40 MEMORY SUPPORT UNITS LOCATED IN LUFKIN, TEXAS, HAPPY HARBOR METHODIST HOME, INC. HAS 36 ASSISTED LIVING UNITS AND 24 MEMORY SUPPORT UNITS LOCATED IN LEAGUE CITY, TEXAS., MRC SENIOR LIVING AT CLEARLAKE HAS 24 ASSISTED LIVING UNITS AND 18 MEMORY SUPPORT UNITS LOCATED IN COLLEGE STATION, TEXAS, AND MRC SENIOR LIVING CORPUS CHRISTI HAS 44 ASSISTED LIVING UNITS AND 18 MEMORY SUPPORT UNITS LOCATED IN CORPUS CHRISTI, TEXAS.

    Expenses $26,440,031 · Revenue $28,208,373

  • THE ORGANIZATION PROVIDES HOME HEALTH SERVICES FOR ITS RESIDENTS AT MRC PINECREST AND MRC CORNERSTONE.

    Expenses $1,407,649 · Revenue $1,576,133

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

Listed in Part VII

  • Mr Alan Brown

    PRESIDENT AND CEO

    Total calculated
    $509,144
    From this org
    $0
    From related orgs
    $470,399
    Other
    $38,745
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $470,399 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $6,600 related
    Nontaxable benefits
    $0 + $32,145 related
    Filer's total
    $0 + $509,144 related

  • Mr Don Stephens

    CHIEF FINANCIAL OFFICER

    Total calculated
    $382,831
    From this org
    $0
    From related orgs
    $355,004
    Other
    $27,827
    Hours/week
    38 + 2 related

    Schedule J breakdown matched by us

    Base
    $0 + $355,004 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $5,217 related
    Nontaxable benefits
    $0 + $22,610 related
    Filer's total
    $0 + $382,831 related

  • Ms Amy Thomas

    VP & EXECUTIVE DIRECTOR

    Total calculated
    $224,249
    From this org
    $0
    From related orgs
    $187,564
    Other
    $36,685
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $187,564 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $3,993 related
    Nontaxable benefits
    $0 + $32,692 related
    Filer's total
    $0 + $224,249 related

  • Ms Jill Janes

    VP OF SALES & MARKETING

    Total calculated
    $222,374
    From this org
    $0
    From related orgs
    $186,282
    Other
    $36,092
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $186,282 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $3,947 related
    Nontaxable benefits
    $0 + $32,145 related
    Filer's total
    $0 + $222,374 related

  • Mr Matthew Currie

    VP & EXECUTIVE DIRECTOR

    Total calculated
    $205,037
    From this org
    $0
    From related orgs
    $201,044
    Other
    $3,993
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $201,044 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $3,993 related
    Nontaxable benefits
    $0
    Filer's total
    $0 + $205,037 related

  • Ms Deborah Nugent

    EXECUTIVE DIRECTOR

    Total calculated
    $194,985
    From this org
    $0
    From related orgs
    $183,340
    Other
    $11,645
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $183,340 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $3,640 related
    Nontaxable benefits
    $0 + $8,005 related
    Filer's total
    $0 + $194,985 related

  • Ms Frances Beltran

    VP OF HUMAN RESOURCES

    Total calculated
    $190,398
    From this org
    $0
    From related orgs
    $166,437
    Other
    $23,961
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $166,437 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $3,442 related
    Nontaxable benefits
    $0 + $20,519 related
    Filer's total
    $0 + $190,398 related

  • Mrs Alyce Anne Baggett

    CHAIR

    Total calculated
    $0
    Hours/week
    9 + 1 related

  • Rev Preston Morgan

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    9 + 1 related

  • Mr Jim Bunch

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Mr Dale Conger

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Rev Kip Gilts

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Mr Wayne D Haglund

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Mr Bill King

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Mr Bill Koerner

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Rev Romonica Malone-Wardley

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Rev Ed Simmons

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Mr Larry St Martin

    DIRECTOR (TERM END 6/23)

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Mr Frankie Watson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Rev Billy T Williamson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Mr Thomas R Wussow

    DIRECTOR (TERM END 6/23)

    Total calculated
    $0
    Hours/week
    1 + 1 related

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 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

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
SALARY FOR THE CEO, EXECUTIVE DIRECTOR, OR TOP MANAGEMENT OFFICIAL IS SET BY THE METHODIST RETIREMENT COMMUNITIES (MRC) BOARD, THE PARENT ENTITY.

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.

Related corporations and trusts

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

  • NFP ASSURANCE GROUP

    C · SELF-INSURANCE · CJ

Provenance

Return type
form_990
Tax year
2023
Filed
13 November 2024
IRS schema version
2023v5.1
Source object
202413199349303246

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