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← BALA PRESBYTERIAN HOME FOUNDATION

Form 990 for tax year 2022

Filed by BALA PRESBYTERIAN HOME FOUNDATION.

Totals

Total revenue
$1,339,025
Total expenses
$1,754,605
Contributions and grants received
$1,671
Grants paid
$1,550,095
Program service revenue
$0
Investment income
$1,337,354
Other revenue
$0
Total assets, end of year
$60,131,382
Total liabilities, end of year
$236,124
Net assets or fund balances, end of year
$59,895,258
Program services expenses (Part IX)
$1,553,228
Management and general expenses
$201,377
Fundraising expenses
$0
Program service expenses (Part III)
$1,553,228

Program services were 88.5% 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.

  • 1f · All other contributions, gifts and grants

    $1,671

  • 3 · Investment income

    total $1,204,183 · unrelated business $20,961 · excluded $1,183,222

  • 7a · Gross sales of assets other than inventory

    securities $9,401,376

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

    securities $9,268,205

  • 7c · Gain or loss

    securities $133,171

  • 7d · Net gain or loss

    total $133,171 · excluded $133,171

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,550,095 · program services $1,550,095

  • 11a · Fees: management

    total $56,628 · management and general $56,628

  • 11f · Fees: investment management

    total $143,943 · management and general $143,943

  • 11g · Fees: other

    total $818 · program services $12 · management and general $806

  • 13 · Office expenses

    total $1,171 · program services $1,171

  • 23 · Insurance

    total $1,950 · program services $1,950

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $746,975 · end of year $532,742

  • 4 · Accounts receivable

    beginning of year $85 · end of year $84

  • 7 · Other notes and loans receivable

    beginning of year $14,652,656 · end of year $14,682,338

  • 9 · Prepaid expenses and deferred charges

    beginning of year $975 · end of year $975

  • 11 · Investments: publicly traded securities

    beginning of year $50,723,622 · end of year $41,476,725

  • 15 · Other assets

    beginning of year $4,420,356 · end of year $3,438,518

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,250 · end of year $0

  • 25 · Other liabilities

    beginning of year $163,618 · end of year $236,124

  • 27 · Net assets without donor restrictions

    beginning of year $65,775,944 · end of year $56,273,239

  • 28 · Net assets with donor restrictions

    beginning of year $4,603,857 · end of year $3,622,019

Mission and programs · 2022

Mission

AT HUMANGOOD WE BELIEVE EVERYONE SHOULD HAVE THE OPPORTUNITY TO LIVE WITH ENTHUSIASM, CONFIDENCE AND SECURITY, REGARDLESS OF PHYSICAL, SOCIAL, OR ECONOMIC CIRCUMSTANCES. AND WHEN WE SAY EVERYONE, WE MEAN EVERYONE - INCLUDING YOU. BECAUSE WE BELIEVE THIS, OUR MISSION IS TO INSPIRE YOUR BEST LIFE. WE DO THAT BY WORKING HAND-IN-HAND TO CREATE EXPERIENCES THAT MATTER TO YOU.

Activities or mission (Part I)

PROVIDE FINANCIAL SUPPORT TO THE HOME'S FORMER RESIDENTS AND FURTHER AFFILIATES' MISSION.

  • THE BALA PRESBYTERIAN HOME FOUNDATION IS INCORPORATED EXCLUSIVELY FOR RELIGIOUS, CHARITABLE, AND EDUCATIONAL PURPOSES AND SUPPORTED THE PURPOSES OF THE PRESBYTERIAN HOME FOR THE AGED COUPLES AND AGED PERSONS OF THE STATE OF PENNSYLVANIA, A SECTION 501(C)(3) ORGANIZATION DESCRIBED IN SECTION 509(A)(1) OF THE INTERNAL REVENUE CODE. THE HOME'S MISSION WAS TO PROVIDE FOR A CONTINUUM OF CARE IN A CHRISTIAN SETTING FOR ELDERLY PRESBYTERIANS AND OTHERS, WITH SPECIAL CONCERN FOR THOSE OF MODEST RESOURCES. THE HOME WAS DISSOLVED SEPTEMBER 26, 2007, BUT THE FOUNDATION CONTINUES TO PROVIDE FINANCIAL SUPPORT TO THE FORMER RESIDENTS OF THE HOME FOR THEIR CARE IN OTHER FACILITIES AND ALSO PROVIDES FINANCIAL SUPPORT TO FURTHER THE MISSION OF HUMANGOOD EAST AND ITS AFFILIATES.

    Expenses $1,553,228 · Grants $1,550,095

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Harry G Dittmann

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.1 + 2.6 related

  • G Robert Overhiser Jr

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.1 + 2.6 related

  • William G Young Jr

    CHAIR

    Total calculated
    $0
    Hours/week
    0.1 + 2.7 related

  • Bruce L Castor Esq

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.1

  • Bruce Dearnley

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.1

  • John H Cochrane III

    PRESIDENT/CHIEF EXECUTIVE OFFICER

    Total calculated
    $1,071,394
    From this org
    $0
    From related orgs
    $1,032,339
    Other
    $39,055
    Hours/week
    0.2 + 39.8 related

    Schedule J breakdown matched by us

    Base
    $0 + $520,513 related
    Bonus
    $0 + $475,000 related
    Other
    $0 + $36,826 related
    Deferred
    $0 + $13,636 related
    Nontaxable benefits
    $0 + $25,419 related
    Filer's total
    $0 + $1,071,394 related

  • Daniel Ogus

    CHIEF OPERATING OFFICER

    Total calculated
    $830,044
    From this org
    $0
    From related orgs
    $786,516
    Other
    $43,528
    Hours/week
    0.2 + 39.8 related

    Schedule J breakdown matched by us

    Base
    $0 + $401,624 related
    Bonus
    $0 + $328,000 related
    Other
    $0 + $56,892 related
    Deferred
    $0 + $12,575 related
    Nontaxable benefits
    $0 + $30,953 related
    Filer's total
    $0 + $830,044 related

  • Bethany Ghassemi

    CHIEF LEGAL COUNSEL

    Total calculated
    $488,378
    From this org
    $0
    From related orgs
    $472,179
    Other
    $16,199
    Hours/week
    0.2 + 39.8 related

    Schedule J breakdown matched by us

    Base
    $0 + $301,298 related
    Bonus
    $0 + $153,000 related
    Other
    $0 + $17,881 related
    Deferred
    $0 + $13,162 related
    Nontaxable benefits
    $0 + $3,037 related
    Filer's total
    $0 + $488,378 related

  • Fleming Meng

    CHIEF INFORMATION OFFICER

    Total calculated
    $473,444
    From this org
    $0
    From related orgs
    $434,627
    Other
    $38,817
    Hours/week
    0.2 + 39.8 related

    Schedule J breakdown matched by us

    Base
    $0 + $244,675 related
    Bonus
    $0 + $189,000 related
    Other
    $0 + $952 related
    Deferred
    $0 + $13,520 related
    Nontaxable benefits
    $0 + $25,297 related
    Filer's total
    $0 + $473,444 related

  • Jennifer S Kappen

    CHIEF EXECUTIVE - AFFORDABLE HOUSING

    Total calculated
    $459,828
    From this org
    $0
    From related orgs
    $416,003
    Other
    $43,825
    Hours/week
    0.5 + 39.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $272,797 related
    Bonus
    $0 + $123,291 related
    Other
    $0 + $19,915 related
    Deferred
    $0 + $13,743 related
    Nontaxable benefits
    $0 + $30,082 related
    Filer's total
    $0 + $459,828 related

  • Andrew McDonald

    CHIEF FINANCIAL OFFICER

    Total calculated
    $590,708
    From this org
    $0
    From related orgs
    $552,085
    Other
    $38,623
    Hours/week
    0.2 + 39.8 related

    Schedule J breakdown matched by us

    Base
    $0 + $325,230 related
    Bonus
    $0 + $198,000 related
    Other
    $0 + $28,855 related
    Deferred
    $0 + $12,910 related
    Nontaxable benefits
    $0 + $25,713 related
    Filer's total
    $0 + $590,708 related

  • Russell L Mast

    REGIONAL OPS VP LPCS

    Total calculated
    $324,767
    From this org
    $0
    From related orgs
    $303,794
    Other
    $20,973
    Hours/week
    0.5 + 39.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $195,593 related
    Bonus
    $0 + $95,000 related
    Other
    $0 + $13,201 related
    Deferred
    $0 + $11,859 related
    Nontaxable benefits
    $0 + $9,114 related
    Filer's total
    $0 + $324,767 related

  • Anika Hartounian

    VP OF FINANCE

    Total calculated
    $370,321
    From this org
    $0
    From related orgs
    $331,581
    Other
    $38,740
    Hours/week
    0.2 + 39.8 related

    Schedule J breakdown matched by us

    Base
    $0 + $223,635 related
    Bonus
    $0 + $101,250 related
    Other
    $0 + $6,696 related
    Deferred
    $0 + $9,708 related
    Nontaxable benefits
    $0 + $29,032 related
    Filer's total
    $0 + $370,321 related

  • Shacasey Rogers

    VP HUMAN RESOURCES

    Total calculated
    $276,972
    From this org
    $0
    From related orgs
    $263,168
    Other
    $13,804
    Hours/week
    0.2 + 39.8 related

    Schedule J breakdown matched by us

    Base
    $0 + $201,327 related
    Bonus
    $0 + $61,250 related
    Other
    $0 + $591 related
    Deferred
    $0 + $4,106 related
    Nontaxable benefits
    $0 + $9,698 related
    Filer's total
    $0 + $276,972 related

  • Troy Keach

    FORMER VP HUMAN RESOURCES

    Total calculated
    $242,424
    From this org
    $0
    From related orgs
    $242,424
    Other
    $0
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $0
    Bonus
    $0
    Other
    $0 + $242,424 related
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $242,424 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

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 7 · Other non-fixed payments

Answered no

  • 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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3
COMPENSATION OF THE CEO IS DETERMINED BY HUMANGOOD USING THE FOLLOWING METHODS: COMPENSATION COMMITTEE, COMPENSATION CONSULTANT, FORM 990 OF OTHER ORGANIZATIONS, COMPENSATION SURVEY/STUDY AND APPROVAL BY THE BOARD/COMPENSATION COMMITTEE.
PART I, LINES 4A-B
TROY KEACH, FORMER VP OF HUMAN RESOURCES, RECEIVED A SEVERANCE PAYMENT DURING 2022. CERTAIN KEY EXECUTIVES WERE ALLOWED TO PARTICIPATE IN AN IRC 457(F) PLAN, WHEREBY (SUBJECT TO PLAN AMENDMENT) THE PLAN WILL FUND REGULAR CONTRIBUTIONS AND EARN A RETURN EQUAL TO THE CONSUMER PRICE INDEX RATE PLUS 2.5 PERCENT WITH A CAP OF 6.0 PERCENT.
PART I, LINE 7
INCENTIVE COMPENSATION: EXECUTIVE DIRECTORS, REGIONAL MANAGERS AND SENIOR MANAGEMENT ARE ELIGIBLE FOR INCENTIVE COMPENSATION. IN THE CALENDAR YEAR PRECEDING THE INCENTIVE COMPENSATION PAYMENT, GOALS ARE SET FOR EACH INDIVIDUAL THAT ALIGN WITH THE STRATEGIC AND OPERATIONAL OBJECTIVES OF THE ORGANIZATION. THE GOALS OF THE CEO AND EXECUTIVE TEAM ARE REVIEWED BY THE COMPENSATION COMMITTEE AND BOARD. BEFORE ANY PAYMENT IS MADE, THE INCENTIVE COMPENSATION POOL MUST BE FUNDED BY EXCEEDING BUDGETED NET CASH PRODUCTION ARISING FROM THE SUM OF OPERATIONAL PERFORMANCE AND NET TURNOVER ENTRANCE FEES, SUBJECT TO A CAP. IF THE INCENTIVE POOL IS PARTIALLY FUNDED, THE PARTIAL PERCENTAGE IS APPLIED TO THE POTENTIAL PAYMENT FOR EACH TEAM MEMBER'S ATTAINED GOALS. THE ATTAINMENT OF THE GOALS OF THE CEO AND EXECUTIVE TEAM ARE REVIEWED BY THE COMPENSATION COMMITTEE AND BOARD PRIOR TO PAYMENT. FOR OTHER TEAM MEMBERS, THE ATTAINMENT OF EACH INCENTIVE GOAL IS ASSESSED BY THE INCENTIVE-ELIGIBLE TEAM MEMBER'S SUPERVISOR AND ULTIMATELY REVIEWED BY THE CEO PRIOR TO PAYMENT.

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

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 partnerships

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

  • BENSALEM SENIOR APARTMENTS LP

    LOW INCOME HOUSING FOR SENIOR CITIZENS AND HANDICAPPED · PA

  • RIVERSIDE SENIOR APARTMENTS LP

    LOW INCOME HOUSING FOR SENIOR CITIZENS AND HANDICAPPED · PA

  • WYNNEFIELD PLACE LP

    LOW INCOME HOUSING FOR SENIOR CITIZENS AND HANDICAPPED · PA

  • WYNNEFIELD SENIOR HOUSING LLC

    LOW INCOME HOUSING FOR SENIOR CITIZENS AND HANDICAPPED · PA

  • CANTRELL PLACE LP

    LOW INCOME HOUSING FOR SENIOR CITIZENS AND HANDICAPPED · PA

  • WITHERSPOON SENIOR APARTMENTS LP

    LOW INCOME HOUSING FOR SENIOR CITIZENS AND HANDICAPPED · PA

  • MAKEMIE COURT LP

    LOW INCOME HOUSING FOR SENIOR CITIZENS AND HANDICAPPED · PA

  • JANNEY STREET APARTMENTS LP

    LOW INCOME HOUSING FOR SENIOR CITIZENS AND HANDICAPPED · PA

  • MARY FIELD SENIOR APARTMENTS LP

    LOW INCOME HOUSING FOR SENIOR CITIZENS AND HANDICAPPED · PA

Related corporations and trusts

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

  • PRESBYHOUSING INC

    C · INVESTMENT · PA

  • PRESBY RIVERSIDE HOUSING INC

    C · INVESTMENT · PA

  • PRESBY HOMES DEVELOPMENT CORP

    C · INACTIVE · PA

  • WYNNEFIELD HOUSING CORPORATION

    C · INACTIVE · PA

  • CANTRELL HOUSING INC

    C · INVESTMENT · PA

  • WITHERSPOON HOUSING INC

    C · INVESTMENT · PA

  • HUMANGOOD PROPERTIES

    C · PROPERTY HOLDING COMPANY · CA

  • HG MAKEMIE HOUSING INC

    C · LOW INCOME HOUSING FOR SENIOR CITIZENS AND HANDICAPPED · PA

Provenance

Return type
form_990
Tax year
2022
Filed
6 November 2023
IRS schema version
2022v5.0
Source object
202343179349301779

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