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← MULTI-FAITH RETIREMENT SERVICES LIVE OAK RETIREMENT CENTER

Form 990 for tax year 2022

Filed by MULTI-FAITH RETIREMENT SERVICES LIVE OAK RETIREMENT CENTER.

Totals

Total revenue
$10,591,835
Total expenses
$12,994,606
Contributions and grants received
$0
Grants paid
$0
Program service revenue
not reported
Investment income
not reported
Other revenue
not reported
Total assets, end of year
not reported
Total liabilities, end of year
not reported
Net assets or fund balances, end of year
not reported
Program services expenses (Part IX)
$10,682,010
Management and general expenses
$2,312,596
Fundraising expenses
$0
Program service expenses (Part III)
$10,682,010

Program services were 82.2% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • JERRY A FIELDER II

    PRESIDENT/CEO/TRUSTEE

    Total calculated
    $2,598,544
    From this org
    $0
    From related orgs
    $2,571,730
    Other
    $26,814
    Hours/week
    5

    Schedule J breakdown matched by us

    Base
    $0 + $1,113,733 related
    Bonus
    $0
    Other
    $0 + $1,457,997 related
    Deferred
    $0 + $1,345 related
    Nontaxable benefits
    $0 + $25,469 related
    Filer's total
    $0 + $2,598,544 related

  • JAMES K ELROD

    FORMER CEO/TRUSTEE

    Total calculated
    $1,133,917
    From this org
    $0
    From related orgs
    $1,129,155
    Other
    $4,762
    Hours/week
    5

    Schedule J breakdown matched by us

    Base
    $0 + $1,103,833 related
    Bonus
    $0
    Other
    $0 + $25,322 related
    Deferred
    $0
    Nontaxable benefits
    $0 + $4,762 related
    Filer's total
    $0 + $1,133,917 related

  • PIERRE V BLANCHARD IV MD

    TRUSTEE/PHYSICIAN

    Total calculated
    $241,653
    From this org
    $0
    From related orgs
    $233,843
    Other
    $7,810
    Hours/week
    4

    Schedule J breakdown matched by us

    Base
    $0 + $199,996 related
    Bonus
    $0 + $2,308 related
    Other
    $0 + $31,539 related
    Deferred
    $0 + $1,462 related
    Nontaxable benefits
    $0 + $6,348 related
    Filer's total
    $0 + $241,653 related

  • FRANK B HUGHES MD

    TRUSTEE/CHAIRMAN

    Total calculated
    $0
    Hours/week
    4

  • WILLIAM J COLE CPA

    TRUSTEE/TREASURER

    Total calculated
    $0
    Hours/week
    8

  • RICHARD H SALE

    TRUSTEE/SECRETARY

    Total calculated
    $0
    Hours/week
    4

  • EUGENE W BRYSON JR

    TRUSTEE

    Total calculated
    $0
    Hours/week
    4

  • ELAINE SIMPKINS PHD

    TRUSTEE

    Total calculated
    $0
    Hours/week
    4

  • RAYMOND J LASSEIGNE

    TRUSTEE

    Total calculated
    $0
    Hours/week
    4

  • LAMAR P PUGH

    TRUSTEE

    Total calculated
    $0
    Hours/week
    4

  • DEBORAH D OLDS

    TRUSTEE

    Total calculated
    $0
    Hours/week
    4

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

  • 1a · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan
  • 5b · Pay contingent on a related organization's revenues

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this 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)

FORM 990, SCHEDULE J, PART II, COLUMN (B)(III)
EXPLANATION OF PART II, COLUMN (B)(III) OTHER COMPENSATION JERRY A. FIELDER,II UNUSED SICK PAY-$21,808 VALUE ADDED FOR COMPUTER USAGE-$200 VALUE ADDED FOR CELL PHONE USAGE-$1,042 COST OF GROUP TERM LIFE INSURANCE IN EXCESS OF $50,000-$2,359 SECTION 457(B) DEFERRED COMPENSATION PLAN-$20,500 EMPLOYEE CAFETERIA PLAN CONTRIBUTIONS-$(7,570) VALUE ADDED FOR CABLE/INTERNET-$2,158 SEVERANCE PAY-$1,417,500** TOTAL--$1,457,997 **THE INCREASE IN GROSS SEVERANCE BENEFIT, TO BE PAID TO MR. FIELDER ON TERMINATION OF EMPLOYMENT (AS ADDITIONAL COMPENSATION FOR EACH OF HIS YEARS OF SERVICE TO WILLIS-KNIGHTON MEDICAL CENTER), WAS TAXABLE DURING 2022, AND ACCORDINGLY, WAS INCLUDED IN HIS 2022 FORM W-2. WILLIS-KNIGHTON DISBURSED TO THE INTERNAL REVENUE SERVICE AND TO THE LOUISIANA DEPARTMENT OF REVENUE THE REQUIRED TAX WITHHOLDING. WILLIS-KNIGHTON DID NOT PAY MR. FIELDER THE NET-OF-TAX AMOUNT OF THIS COMPENSATION, BUT, UNDER THE TERMS OF THE AGREEMENT, THE MEDICAL CENTER IS RETAINING THE NET-OF-TAX AMOUNT UNTIL HIS EMPLOYMENT TERMINATES. ACCORDINGLY, THERE WAS NO CURRENT DISBURSEMENT TO MR. FIELDER FOR SEVERANCE PAY. JAMES K. ELROD VALUE ADDED FOR COMPUTER USAGE-$200 VALUE ADDED FOR CELL PHONE USAGE-$1,121 COST OF GROUP TERM LIFE INSURANCE IN EXCESS OF $50,000-$4,820 SECTION 457(B) DEFERRED COMPENSATION PLAN-$20,500 EMPLOYEE CAFETERIA PLAN CONTRIBUTIONS-$(1,319) TOTAL--$25,322 PIERRE V. BLANCHARD,IV, M.D. VALUE ADDED FOR HEALTH & FITNESS USAGE-$384 SECTION 457(B) DEFERRED COMPENSATION PLAN-$20,500 COST OF GROUP TERM LIFE INSURANCE IN EXCESS OF $50,000-$3,214 SHARED SAVINGS QUALITY PROGRAM-$9,201 EMPLOYEE CAFETERIA PLAN CONTRIBUTIONS-$(1,760) TOTAL--$31,539 EXPLANATION OF PART II, COLUMN (C) DEFERRED COMPENSATION THIS EMPLOYEE PARTICIPATES IN A DEFINED BENEFIT PENSION PLAN, THE CONTRIBUTIONS TO WHICH ARE ACTUARIALLY DETERMINED. THE AMOUNT SHOWN IS THE INCREASE IN THE ANNUAL VESTED BENEFIT AT NORMAL RETIREMENT FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2022 (NOT DISCOUNTED TO PRESENT VALUE) (NORMAL RETIREMENT IS AGE 65 WITH 5 YEARS OF PARTICIPATION). MR. ELROD HAS REACHED THE MAXIMUM BENEFIT UNDER THE PLAN. EXPLANATION OF PART II, COLUMN (D) NONTAXABLE BENEFITS INCLUDED IN THIS COLUMN IS THE COST OF THE FOLLOWING NONTAXABLE BENEFITS: LONG-TERM DISABILITY INCOME INSURANCE PLAN, GROUP TERM-LIFE INSURANCE, AND THE ESTIMATED COST OF SELF-FUNDED HEALTH INSURANCE PLAN.

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.

Provenance

Return type
form_990
Tax year
2022
Filed
31 July 2024
IRS schema version
2022v5.0
Source object
202402159349300435

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