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Nonprofiteer
← HEALTH SYSTEMS REAL ESTATE INC

Form 990 for tax year 2022

Filed by HEALTH SYSTEMS REAL ESTATE INC.

Totals

Total revenue
$14,111,077
Total expenses
$9,726,921
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$14,005,454
Investment income
$105,623
Other revenue
$0
Total assets, end of year
$150,483,789
Total liabilities, end of year
$31,183,663
Net assets or fund balances, end of year
$119,300,126
Program services expenses (Part IX)
$9,726,921
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$9,726,921

Program services were 100.0% 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.

  • 2a · Program service revenue: SERVICE REVENUES

    total $14,005,454 · related or exempt $14,005,454

  • 3 · Investment income

    total $105,623 · excluded $105,623

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $566,669 · program services $566,669

  • 7 · Other salaries and wages

    total $839,070 · program services $839,070

  • 8 · Pension plan contributions

    total $51,576 · program services $51,576

  • 9 · Other employee benefits

    total $134,461 · program services $134,461

  • 10 · Payroll taxes

    total $99,139 · program services $99,139

  • 11b · Fees: legal

    total $241,412 · program services $241,412

  • 11c · Fees: accounting

    total $21,000 · program services $21,000

  • 16 · Occupancy

    total $36,144 · program services $36,144

  • 20 · Interest

    total $1,070,838 · program services $1,070,838

  • 22 · Depreciation, depletion and amortization

    total $4,771,420 · program services $4,771,420

  • 23 · Insurance

    total $24,438 · program services $24,438

  • 24a · Other expenses: CONTRACTED SERVICES

    total $671,787 · program services $671,787

  • 24b · Other expenses: SUPPORT SERVICE FEES

    total $426,046 · program services $426,046

  • 24c · Other expenses: TAXES

    total $326,325 · program services $326,325

  • 24d · Other expenses: TRAVEL

    total $283,237 · program services $283,237

  • 24e · All other expenses

    total $163,359 · program services $163,359

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $497,678 · end of year $539,643

  • 4 · Accounts receivable

    beginning of year $85,438 · end of year $320,910

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

    $179,180,500

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

    $46,777,232

  • 10c · Land, buildings and equipment, net

    beginning of year $124,527,593 · end of year $132,403,268

  • 14 · Intangible assets

    end of year $13,898,078

  • 15 · Other assets

    beginning of year $4,096,448 · end of year $3,321,890

  • 17 · Accounts payable and accrued expenses

    beginning of year $239,387 · end of year $220,001

  • 20 · Tax-exempt bond liabilities

    beginning of year $7,397,000 · end of year $6,808,000

  • 23 · Secured mortgages and notes payable

    beginning of year $8,581,463 · end of year $24,155,662

  • 27 · Net assets without donor restrictions

    beginning of year $112,989,307 · end of year $119,300,126

Mission and programs · 2022

Mission

TO FINANCE, ACQUIRE, LEASE, MAINTAIN AND OWN SKILLED NURSING FACILITIES AND OTHER REAL ESTATE AS PART OF AN INTEGRATED HEALTH CARE DELIVERY SYSTEM.

  • FINANCED, ACQUIRED, LEASED, MAINTAINED, DEVELOPED AND OWNED SKILLED NURSING FACILITIES AND OTHER REAL ESTATE AS A MEMBER OF AN INTEGRATED HEALTH CARE DELIVERY SYSTEM.

    Expenses $9,726,921

As filed on the 2022 return.

Listed in Part VII

  • Ronnie Rollins

    PRESIDENT, D

    Total calculated
    $867,002
    From this org
    $0
    From related orgs
    $838,044
    Other
    $28,958
    Hours/week
    4 + 40 related

    Schedule J breakdown matched by us

    Base
    not reported + $822,844 related
    Bonus
    not reported
    Other
    not reported + $15,200 related
    Deferred
    not reported
    Nontaxable benefits
    not reported + $28,958 related
    Filer's total
    not reported + $867,002 related

  • Lorraine T Taylor

    SECRETARY

    Total calculated
    $771,185
    From this org
    $0
    From related orgs
    $746,048
    Other
    $25,137
    Hours/week
    4 + 40 related

    Schedule J breakdown matched by us

    Base
    not reported + $731,274 related
    Bonus
    not reported
    Other
    not reported + $14,774 related
    Deferred
    not reported
    Nontaxable benefits
    not reported + $25,137 related
    Filer's total
    not reported + $771,185 related

  • Angela Hammack

    CORPORATE SE

    Total calculated
    $309,351
    From this org
    $0
    From related orgs
    $290,941
    Other
    $18,410
    Hours/week
    0 + 40 related

    Schedule J breakdown matched by us

    Base
    not reported + $279,741 related
    Bonus
    not reported
    Other
    not reported + $11,200 related
    Deferred
    not reported
    Nontaxable benefits
    not reported + $18,410 related
    Filer's total
    not reported + $309,351 related

  • Edward S Nelson

    SENIOR VP

    Total calculated
    $263,236
    From this org
    $242,882
    From related orgs
    $0
    Other
    $20,354
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $229,470
    Bonus
    not reported
    Other
    $13,412
    Deferred
    not reported
    Nontaxable benefits
    $20,354
    Filer's total
    $263,236

  • Teresa Moody

    PRESIDENT

    Total calculated
    $238,912
    From this org
    $0
    From related orgs
    $218,891
    Other
    $20,021
    Hours/week
    0 + 40 related

    Schedule J breakdown matched by us

    Base
    not reported + $206,516 related
    Bonus
    not reported
    Other
    not reported + $12,375 related
    Deferred
    not reported
    Nontaxable benefits
    not reported + $20,021 related
    Filer's total
    not reported + $238,912 related

  • Stephen Bush

    VP- ENGINEER

    Total calculated
    $170,913
    From this org
    $159,693
    From related orgs
    $0
    Other
    $11,220
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $148,143
    Bonus
    not reported
    Other
    $11,550
    Deferred
    not reported
    Nontaxable benefits
    $11,220
    Filer's total
    $170,913

  • Laura Kennedy

    VICEPRESIDEN

    Total calculated
    $132,520
    From this org
    $116,346
    From related orgs
    $0
    Other
    $16,174
    Hours/week
    40

  • Paul A Cable

    DIRECTOR

    Total calculated
    $24,000
    From this org
    $0
    From related orgs
    $24,000
    Other
    $0
    Hours/week
    4 + 1 related

  • Joseph A Wall

    CHAIRMAN

    Total calculated
    $24,000
    From this org
    $0
    From related orgs
    $24,000
    Other
    $0
    Hours/week
    4 + 1 related

  • Kathryn Dennis

    DIRECTOR

    Total calculated
    $24,000
    From this org
    $0
    From related orgs
    $24,000
    Other
    $0
    Hours/week
    0 + 4 related

    Schedule J breakdown matched by us

    Base
    not reported + $24,000 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    not reported + $24,000 related

  • Herbert M Ponder Jr

    DIRECTOR

    Total calculated
    $12,000
    From this org
    $0
    From related orgs
    $12,000
    Other
    $0
    Hours/week
    0 + 4 related

    Schedule J breakdown matched by us

    Base
    not reported + $12,000 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    not reported + $12,000 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 · Independent compensation consultant
  • 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

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • MACON COUNTY PROPERTIES LLC

    REAL ESTAT · GA · income $343,836 · assets $2,210,146

    Directly controlled by NA

  • UPSON PROPERTIES LLC

    REAL ESTAT · GA · income $252,864 · assets $1,455,005

    Directly controlled by NA

  • ZEBULON ROAD PROPERTIES LLC

    REAL ESTAT · GA · income $875,676 · assets $9,486,593

    Directly controlled by NA

  • COWETA COUNTY LTC LLC

    REAL ESTAT · GA · income $956,616 · assets $11,794,516

    Directly controlled by NA

  • RICHMOND COUNTY LTC LLC

    REAL ESTAT · GA · income $800,232 · assets $3,699,667

    Directly controlled by NA

  • BIBB COUNTY LTC LLC

    REAL ESTAT · GA · assets $2,758,814

    Directly controlled by NA

  • NEWNAN LTC LLC

    REAL ESTAT · GA · income $477,912 · assets $4,178,210

    Directly controlled by NA

  • RICHMOND COUNTY HOLDINGS LLC

    REAL ESTAT · GA · income $18,000 · assets $1,242,382

    Directly controlled by NA

  • LUMPKIN COUNTY HOLDINGS LLC

    REAL ESTAT · GA · income $105,623 · assets $2,459,700

    Directly controlled by NA

  • BARTOW COUNTY HOLDINGS LLC

    REAL ESTAT · GA · income $561,228 · assets $2,469,975

    Directly controlled by NA

  • BULLOCH COUNTY HOLDINGS LLC

    REAL ESTAT · GA · income $237,072 · assets $4,386,828

    Directly controlled by NA

  • DOUGHERTY COUNTY HOLDINGS LLC

    REA ESTAT · GA · income $1,740,024 · assets $11,793,314

    Directly controlled by NA

  • DOUGHERTY COUNTY HOLDINGS II LLC

    REAL ESTAT · GA · assets $707,275

    Directly controlled by NA

  • DEKALB COUNTY HOLDINGS LLC

    REAL ESTAT · GA

    Directly controlled by NA

  • GREENE COUNTY LTC LLC

    REAL ESTAT · GA · income $220,272 · assets $3,175,309

    Directly controlled by NA

  • RICHMOND COUNTY HOLDINGS II LLC

    REAL ESTAT · GA · income $800,232 · assets $9,696,025

    Directly controlled by NA

  • TOOMBS COUNTY LTC LLC

    REAL ESTAT · GA · income $837,132 · assets $8,823,478

    Directly controlled by NA

  • FLOYD COUNTY HOLDINGS LLC

    REAL ESTAT · GA · income $370,116 · assets $2,953,015

    Directly controlled by NA

  • HEALTH CARE RE HOLDINGS LLC

    REAL ESTAT · GA · income $823,008 · assets $7,754,395

    Directly controlled by NA

  • COWETA COUNTY HOLDINGS LLC

    REAL ESTAT · GA · income $328,176 · assets $2,669,077

    Directly controlled by NA

  • FRANKLIN COUNTY HOLDINGS LLC

    REAL ESTAT · GA · income $642,036 · assets $3,886,037

    Directly controlled by NA

  • HART COUNTY HOLDINGS LLC

    REAL ESTAT · GA · income $239,424 · assets $3,272,616

    Directly controlled by NA

  • HART COUNTY HOLDINGS II LLC

    REAL ESTAT · GA · assets $2,345,432

    Directly controlled by NA

  • MADISON COUNTY HOLDINGS LLC

    REAL ESTAT · GA · income $335,760 · assets $3,195,198

    Directly controlled by NA

  • WHITFIELD COUNTY HOLDINGS LLC

    REAL ESTAT · GA

    Directly controlled by NA

  • OCONEE COUNTY HOLDINGS LLC

    REAL ESTAT · GA · income $565,380 · assets $4,714,129

    Directly controlled by NA

  • OCONEE COUNTY HOLDINGS II LLC

    REAL ESTAT · GA · assets $227,650

    Directly controlled by NA

  • HEALTH SYSTEMS DEVELOPMENT

    REAL ESTAT · GA · income $1,182,012 · assets $85,629

    Directly controlled by NA

  • ZEBULON ROAD HOLDINGS LLC

    REAL ESTAT · GA · assets $1,107,047

    Directly controlled by NA

  • DISTRIBUTION WAREHOUSE

    REAL ESTAT · GA · income $174,612 · assets $286,907

    Directly controlled by NA

  • HANCOCK COUNTY HOLDINGS LLC

    REAL ESTAT · GA · income $45,876 · assets $557,820

    Directly controlled by NA

  • TERRELL COUNTY HOLDINGS LLC

    REAL ESTAT · GA · income $45,918 · assets $4,439,456

    Directly controlled by NA

  • PUTNAM COUNTY HOLDINGS LLC

    REAL ESTAT · GA · income $183,347 · assets $5,924,783

    Directly controlled by NA

  • LEE COUNTY HOLDINGS LLC

    REAL ESTAT · GA · income $49,568 · assets $7,111,758

    Directly controlled by NA

  • TOOMBS COUNTY HOLDINGS LLC

    REAL ESTAT · GA · income $95,090 · assets $9,924,200

    Directly controlled by NA

Related corporations and trusts

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

  • COMMUNITY HEALTH VENTURES INC

    C CORP · RISK MGMT. · GA

    Directly controlled by CHSI

Provenance

Return type
form_990
Tax year
2022
Filed
11 May 2024
IRS schema version
2022v5.0
Source object
202401349349303835

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