Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $411,737

• 1e · Government grants (contributions)

  $236,050

• 1f · All other contributions, gifts and grants

  $999,744

• 2a · Program service revenue: RESIDENTIAL CONTINUUM OF CARE

  total $47,286,569 · related or exempt $47,286,569

• 2b · Program service revenue: INDEPENDENT LIVING SUPPORT

  total $16,215,896 · related or exempt $16,215,896

• 3 · Investment income

  total $400,650 · excluded $400,650

• 7a · Gross sales of assets other than inventory

  securities $175,410 · other assets $7,386

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

  securities $0 · other assets $0

• 7c · Gain or loss

  securities $175,410 · other assets $7,386

• 7d · Net gain or loss

  total $182,796 · excluded $182,796

• 8a · Fundraising events: gross income

  $213,223

• 8a · Fundraising events: contributions included on line 1c

  $411,737

• 8b · Fundraising events: direct expenses

  $213,223

• 8c · Net income from fundraising events

  total $0

• 11a · Other revenue: MISCELLANEOUS INCOME - ILS

  total $65,037 · related or exempt $65,037

• 11b · Other revenue: REIMBURSEMENTS - RCC

  total $20,574 · related or exempt $20,574

• 11e · Other revenue, total

  $85,611

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $697,494 · management and general $697,494

• 7 · Other salaries and wages

  total $41,485,906 · program services $38,003,351 · management and general $2,744,563 · fundraising $737,992

• 8 · Pension plan contributions

  total $1,947,903 · program services $1,945,187 · management and general $2,235 · fundraising $481

• 9 · Other employee benefits

  total $5,500,539 · program services $4,956,816 · management and general $447,740 · fundraising $95,983

• 10 · Payroll taxes

  total $3,045,284 · program services $2,739,311 · management and general $251,958 · fundraising $54,015

• 11b · Fees: legal

  total $31,945 · management and general $31,945

• 11c · Fees: accounting

  total $111,714 · management and general $111,714

• 11d · Fees: lobbying

  total $51,000 · management and general $51,000

• 11f · Fees: investment management

  total $35,958 · management and general $35,958

• 13 · Office expenses

  total $119,162 · program services $70,362 · management and general $37,615 · fundraising $11,185

• 14 · Information technology

  total $443,098 · program services $55,620 · management and general $366,752 · fundraising $20,726

• 16 · Occupancy

  total $2,538,397 · program services $2,150,847 · management and general $380,239 · fundraising $7,311

• 17 · Travel

  total $539,601 · program services $538,574 · management and general $69 · fundraising $958

• 20 · Interest

  total $575,415 · program services $340,562 · management and general $229,388 · fundraising $5,465

• 22 · Depreciation, depletion and amortization

  total $1,619,391 · program services $1,483,698 · management and general $130,423 · fundraising $5,270

• 23 · Insurance

  total $624,538 · program services $328,692 · management and general $295,050 · fundraising $796

• 24a · Other expenses: SUPPLIES, FOOD, ACTIVIT

  total $2,450,590 · program services $2,446,249 · management and general $3,540 · fundraising $801

• 24b · Other expenses: ST OF CT DSS ICF PROVID

  total $1,188,153 · program services $1,188,153

• 24c · Other expenses: HIRING EXP, STAFF SUPPO

  total $1,159,526 · program services $883,988 · management and general $272,426 · fundraising $3,112

• 24e · All other expenses

  total $1,506,687 · program services $1,045,168 · management and general $262,008 · fundraising $199,511

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $3,538,127 · end of year $780,388

• 3 · Pledges and grants receivable

  beginning of year $2,575,344 · end of year $2,420,256

• 4 · Accounts receivable

  beginning of year $3,279,960 · end of year $3,370,072

• 9 · Prepaid expenses and deferred charges

  beginning of year $616,250 · end of year $740,134

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

  $46,723,332

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

  $33,623,979

• 10c · Land, buildings and equipment, net

  beginning of year $14,287,459 · end of year $13,099,353

• 11 · Investments: publicly traded securities

  beginning of year $5,438,009 · end of year $6,632,043

• 15 · Other assets

  beginning of year $2,260,139 · end of year $3,553,310

• 17 · Accounts payable and accrued expenses

  beginning of year $2,411,317 · end of year $8,020,333

• 19 · Deferred revenue

  end of year $1,710,012

• 23 · Secured mortgages and notes payable

  beginning of year $8,443,040 · end of year $5,434,828

• 25 · Other liabilities

  beginning of year $8,141,514 · end of year $2,174,980

• 27 · Net assets without donor restrictions

  beginning of year $9,400,464 · end of year $9,923,762

• 28 · Net assets with donor restrictions

  beginning of year $3,598,953 · end of year $3,331,641

The filer's explanations (Part III)

PART I, LINE 3

THE CEO AND CFO ARE COMPENSATED BY THE RELATED ORGANIZATION, ABILITY BEYOND DISABILITY, INC. (D/B/A ABILITY BEYOND) AND SHARE A COMMON BOARD. THE BOARD OF DIRECTORS HAS CHARGED THE EXECUTIVE COMMITTEE WITH MAKING RECOMMENDATIONS TO THE BOARD FOR DETERMINATION OF COMPENSATION OF THE PRESIDENT/CEO. INFORMATION IS MADE AVAILABLE TO ASSIST IN ESTABLISHING COMPENSATION THAT IS FAIR AND REASONABLE INCLUDING, RECENT SURVEYS AND/OR ANALYSIS OF LIKE ORGANIZATIONS IN THE REGION; SPECIFIC COMPENSATION DATA FOR SIMILAR POSITIONS IN ORGANIZATIONS OF SIMILAR SIZE AND COMPLEXITY IN THE REGIONS. INFORMATION COLLECTED WITH RELEVANCE TO PRESIDENT/CEO COMPENSATION IS REVIEWED BY THE CHAIR OF HUMAN RESOURCES COMMITTEE WHO PRESENTS THIS DATA TO THE EXECUTIVE COMMITTEE (SENIOR MANAGEMENT COMPENSATION COMMITTEE) FOR CONSIDERATION IN DEVELOPING THE COMMITTEE'S RECOMMENDATION TO THE BOARD OF DIRECTORS AS TO TERMS OF AN EMPLOYMENT AGREEMENT, IF ANY AND ANNUAL COMPENSATION TO BE PAID TO THE PRESIDENT/CEO. THE BOARD OF DIRECTORS APPROVES THE PRESIDENT/CEO EMPLOYMENT AGREEMENT AND COMPENSATION. INFORMATION COLLECTED AND RELEVANT TO COMPENSATION FOR OTHER SENIOR MANAGEMENT PERSONNEL IS REVIEWED WITH THE PRESIDENT/CEO WHO CONSIDERS THE DATE IN RECOMMENDING ANNUAL COMPENSATION FOR THESE INDIVIDUALS. THIS PROCESS IS DOCUMENTED IN BOARD MEETING MINUTES. THE CEO HAS ENTERED INTO AN EMPLOYMENT AGREEMENT WHICH INCLUDES A PROVISION FOR BONUS PAYMENTS BASED ON THE EXECUTIVES PERFORMANCE RANGING FROM 10 TO 20%.