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← BETHESDA FOUNDATION

Form 990 for tax year 2024

Filed by BETHESDA FOUNDATION.

Totals

Total revenue
$57,298,859
Total expenses
$59,667,132
Contributions and grants received
$942,373
Grants paid
$61,850
Program service revenue
$54,956,493
Investment income
$781,907
Other revenue
$618,086
Total assets, end of year
$105,007,927
Total liabilities, end of year
$107,626,927
Net assets or fund balances, end of year
-$2,619,000
Program services expenses (Part IX)
$50,253,235
Management and general expenses
$9,413,897
Fundraising expenses
$0
Program service expenses (Part III)
$50,253,235

Program services were 84.2% 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.

  • 1e · Government grants (contributions)

    $936,862

  • 1f · All other contributions, gifts and grants

    $5,511

  • 2a · Program service revenue: ASSISTED LIVING

    total $51,087,210 · related or exempt $51,087,210

  • 2b · Program service revenue: SUBSIDIARY MANAGEMENT

    total $2,974,523 · related or exempt $2,974,523

  • 2c · Program service revenue: COMMUNITY FEES

    total $894,760 · related or exempt $894,760

  • 3 · Investment income

    total $187,805 · excluded $187,805

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

    total $296,333 · excluded $296,333

  • 6a · Gross rents

    real property $29,874 · personal property $900

  • 6b · Less rental expenses

    real property $0 · personal property $0

  • 6c · Rental income or loss

    real property $29,874 · personal property $900

  • 6d · Net rental income or loss

    total $30,774 · unrelated business $900 · excluded $29,874

  • 7a · Gross sales of assets other than inventory

    securities $674,713 · other assets $478,215

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

    securities $469,563 · other assets $385,596

  • 7c · Gain or loss

    securities $205,150 · other assets $92,619

  • 7d · Net gain or loss

    total $297,769 · excluded $297,769

  • 11d · All other revenue

    total $587,312 · related or exempt $587,312

  • 11e · Other revenue, total

    $587,312

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $40,066 · program services $40,066

  • 2 · Grants to domestic individuals

    total $21,784 · program services $21,784

  • 5 · Compensation of officers, directors and key employees

    total $958,064 · management and general $958,064

  • 7 · Other salaries and wages

    total $25,719,478 · program services $22,837,897 · management and general $2,881,581

  • 8 · Pension plan contributions

    total $350,419 · program services $279,720 · management and general $70,699

  • 9 · Other employee benefits

    total $2,165,791 · program services $1,975,483 · management and general $190,308

  • 10 · Payroll taxes

    total $1,969,416 · program services $1,739,222 · management and general $230,194

  • 11a · Fees: management

    total $1,095,507 · management and general $1,095,507

  • 11b · Fees: legal

    total $42,933 · program services $14,830 · management and general $28,103

  • 11c · Fees: accounting

    total $110,294 · program services $46,478 · management and general $63,816

  • 11f · Fees: investment management

    total $12,052 · management and general $12,052

  • 11g · Fees: other

    total $3,626,266 · program services $1,368,687 · management and general $2,257,579

  • 12 · Advertising and promotion

    total $1,223,643 · program services $1,197,799 · management and general $25,844

  • 13 · Office expenses

    total $3,587,619 · program services $3,559,358 · management and general $28,261

  • 14 · Information technology

    total $881,747 · program services $176,553 · management and general $705,194

  • 16 · Occupancy

    total $3,891,959 · program services $3,763,669 · management and general $128,290

  • 17 · Travel

    total $584,522 · program services $85,280 · management and general $499,242

  • 19 · Conferences, conventions and meetings

    total $138,596 · program services $68,902 · management and general $69,694

  • 20 · Interest

    total $4,618,175 · program services $4,618,175

  • 22 · Depreciation, depletion and amortization

    total $6,634,901 · program services $6,577,377 · management and general $57,524

  • 23 · Insurance

    total $1,622,099 · program services $1,581,281 · management and general $40,818

  • 24a · Other expenses: DUES/LICENSE/FEES

    total $170,149 · program services $162,216 · management and general $7,933

  • 24b · Other expenses: BAD DEBT

    total $138,458 · program services $138,458

  • 24c · Other expenses: BOND ADMIN FEES

    total $36,157 · management and general $36,157

  • 24d · Other expenses: CONTRACTUAL PAYMENTS

    total $26,987 · management and general $26,987

  • 24e · All other expenses

    total $50 · management and general $50

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $813,609 · end of year $1,585,141

  • 2 · Savings and temporary cash investments

    beginning of year $48,188 · end of year $125,661

  • 4 · Accounts receivable

    beginning of year $1,401,942 · end of year $1,087,826

  • 7 · Other notes and loans receivable

    beginning of year $5,927,612 · end of year $3,600,000

  • 8 · Inventories for sale or use

    beginning of year $73,337 · end of year $71,058

  • 9 · Prepaid expenses and deferred charges

    beginning of year $622,148 · end of year $723,674

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

    $150,729,702

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

    $66,780,628

  • 10c · Land, buildings and equipment, net

    beginning of year $86,537,893 · end of year $83,949,074

  • 12 · Investments: other securities

    beginning of year $5,441,127 · end of year $5,234,789

  • 14 · Intangible assets

    beginning of year $4,494,000 · end of year $4,494,000

  • 15 · Other assets

    beginning of year $3,796,181 · end of year $4,136,704

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,754,191 · end of year $2,968,101

  • 19 · Deferred revenue

    beginning of year $459,631 · end of year $200,446

  • 20 · Tax-exempt bond liabilities

    beginning of year $23,494,907 · end of year $62,326,526

  • 23 · Secured mortgages and notes payable

    beginning of year $21,100,368 · end of year $9,493,962

  • 25 · Other liabilities

    beginning of year $61,992,709 · end of year $32,637,892

  • 27 · Net assets without donor restrictions

    beginning of year -$645,769 · end of year -$2,619,000

Mission and programs · 2024

Mission

TO SERVE SENIORS BY ENRICHING THEIR PHYSICAL, EMOTIONAL, AND SPIRITUAL HEALTH IN A NURTURING LIFESTYLE AT OUR COMMUNITIES. OUR VISION: TO EXPAND OUTREACH AND SERVICE TO AS MANY COMMUNITIES AS GOD WILLS THROUGH EXPANSION, ACQUISITION, MANAGEMENT CONTRACTS AND PROGRAMMING.

Activities or mission (Part I)

SERVING SENIORS BY ENRICHING THEIR PHYSICAL, EMOTIONAL AND SPIRITUAL HEALTH.

  • DEVELOPMENT AND OPERATION OF TAX EXEMPT ASSISTED LIVING COMMUNITIES, INDEPENDENT LIVING COMMUNITIES, AND MEMORY CARE FACILITIES FOR SENIORS IN ARIZONA, COLORADO, MISSOURI, NEBRASKA, AND TEXAS. CARED FOR AN AVERAGE OF 938 RESIDENTS DURING THE FISCAL YEAR ENDED 9/30/2025.

    Expenses $50,253,235 · Grants $61,850 · Revenue $55,543,805

As filed on the 2024 return.

Listed in Part VII

  • Kristen Jacoby

    REGIONAL VP OF OPS, DIRECTOR, AND VP

    Total calculated
    $174,484
    From this org
    $169,236
    From related orgs
    $0
    Other
    $5,248
    Hours/week
    25 + 25 related

    Schedule J breakdown matched by us

    Base
    $168,117
    Bonus
    $0
    Other
    $1,119
    Deferred
    $4,801
    Nontaxable benefits
    $447
    Filer's total
    $174,484

  • Jenny Kennedy

    SECRETARY & DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5 + 5 related

  • Rick Summers

    VICE PRESIDENT & DIRECTOR

    Total calculated
    $318,869
    From this org
    $297,507
    From related orgs
    $0
    Other
    $21,362
    Hours/week
    25 + 35 related

    Schedule J breakdown matched by us

    Base
    $290,967
    Bonus
    $0
    Other
    $6,540
    Deferred
    $8,452
    Nontaxable benefits
    $12,910
    Filer's total
    $318,869

  • Larry Smith

    DIRECTOR

    Total calculated
    $37,756
    From this org
    $32,775
    From related orgs
    $0
    Other
    $4,981
    Hours/week
    3 + 7 related

  • Don Morgan

    DIRECTOR (PART YEAR)

    Total calculated
    $73,552
    From this org
    $70,167
    From related orgs
    $0
    Other
    $3,385
    Hours/week
    2 + 6 related

  • Dale Turner

    DIRECTOR

    Total calculated
    $69,087
    From this org
    $0
    From related orgs
    $65,604
    Other
    $3,483
    Hours/week
    2 + 7 related

  • Daniel Vagle

    VICE CHAIR & DIRECTOR

    Total calculated
    $69,213
    From this org
    $0
    From related orgs
    $65,604
    Other
    $3,609
    Hours/week
    2 + 5 related

  • Christi Miller

    VP OF HUMAN RESOURCES & DIRECTOR

    Total calculated
    $247,913
    From this org
    $0
    From related orgs
    $227,426
    Other
    $20,487
    Hours/week
    25 + 30 related

    Schedule J breakdown matched by us

    Base
    $0 + $205,107 related
    Bonus
    $0 + $10,500 related
    Other
    $0 + $11,819 related
    Deferred
    $0 + $6,414 related
    Nontaxable benefits
    $0 + $14,073 related
    Filer's total
    $0 + $247,913 related

  • Dana Rasic

    PRESIDENT, CHAIR & DIRECTOR

    Total calculated
    $455,797
    From this org
    $0
    From related orgs
    $407,174
    Other
    $48,623
    Hours/week
    25 + 37 related

    Schedule J breakdown matched by us

    Base
    $0 + $399,695 related
    Bonus
    $0
    Other
    $0 + $7,479 related
    Deferred
    $0 + $10,360 related
    Nontaxable benefits
    $0 + $38,263 related
    Filer's total
    $0 + $455,797 related

  • Nathan Merrill

    CFO, TREASURER & DIRECTOR

    Total calculated
    $359,849
    From this org
    $0
    From related orgs
    $311,825
    Other
    $48,024
    Hours/week
    25 + 32 related

    Schedule J breakdown matched by us

    Base
    $0 + $269,010 related
    Bonus
    $0 + $30,000 related
    Other
    $0 + $12,815 related
    Deferred
    $0 + $9,457 related
    Nontaxable benefits
    $0 + $38,567 related
    Filer's total
    $0 + $359,849 related

  • Kimberly Erickson

    CHIEF OPERATING OFFICER

    Total calculated
    $103,040
    From this org
    $101,573
    From related orgs
    $0
    Other
    $1,467
    Hours/week
    30 + 25 related

  • Austin Harbach

    VP OF LEGAL & RISK, ASST. SECRETARY

    Total calculated
    $174,677
    From this org
    $0
    From related orgs
    $157,189
    Other
    $17,488
    Hours/week
    25 + 31 related

    Schedule J breakdown matched by us

    Base
    $0 + $149,400 related
    Bonus
    $0 + $7,650 related
    Other
    $0 + $139 related
    Deferred
    $0 + $4,828 related
    Nontaxable benefits
    $0 + $12,660 related
    Filer's total
    $0 + $174,677 related

  • Tom Workman

    ASSISTANT SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 3.5 related

  • Joshua Thomas

    VP OF STRATEGY & DEV. (PART YEAR)

    Total calculated
    $240,388
    From this org
    $213,872
    From related orgs
    $0
    Other
    $26,516
    Hours/week
    15 + 40 related

    Schedule J breakdown matched by us

    Base
    $194,609
    Bonus
    $18,500
    Other
    $763
    Deferred
    $6,706
    Nontaxable benefits
    $19,810
    Filer's total
    $240,388

  • Bryan Beamer

    VICE PRESIDENT OF CONSTRUCTION

    Total calculated
    $184,186
    From this org
    $174,136
    From related orgs
    $0
    Other
    $10,050
    Hours/week
    15 + 45 related

    Schedule J breakdown matched by us

    Base
    $173,400
    Bonus
    $0
    Other
    $736
    Deferred
    $5,327
    Nontaxable benefits
    $4,723
    Filer's total
    $184,186

  • Brittney Moore

    VP OF HEALTH SERVICES

    Total calculated
    $203,102
    From this org
    $184,056
    From related orgs
    $0
    Other
    $19,046
    Hours/week
    24 + 31 related

    Schedule J breakdown matched by us

    Base
    $167,985
    Bonus
    $15,800
    Other
    $271
    Deferred
    $5,605
    Nontaxable benefits
    $13,441
    Filer's total
    $203,102

  • Kris Gillen

    VP OF SALES & MARKETING(PART YEAR)

    Total calculated
    $203,949
    From this org
    $198,223
    From related orgs
    $0
    Other
    $5,726
    Hours/week
    30 + 25 related

    Schedule J breakdown matched by us

    Base
    $181,249
    Bonus
    $16,500
    Other
    $474
    Deferred
    $4,605
    Nontaxable benefits
    $1,121
    Filer's total
    $203,949

  • Andrew McCormick

    REGIONAL VP OF OPERATIONS

    Total calculated
    $189,587
    From this org
    $158,420
    From related orgs
    $0
    Other
    $31,167
    Hours/week
    25 + 25 related

    Schedule J breakdown matched by us

    Base
    $157,664
    Bonus
    $0
    Other
    $756
    Deferred
    $5,090
    Nontaxable benefits
    $26,077
    Filer's total
    $189,587

  • Earl Saxon Jr

    REGIONAL VP OF OPERATIONS

    Total calculated
    $195,320
    From this org
    $176,195
    From related orgs
    $0
    Other
    $19,125
    Hours/week
    25 + 25 related

    Schedule J breakdown matched by us

    Base
    $170,666
    Bonus
    $5,000
    Other
    $529
    Deferred
    $5,370
    Nontaxable benefits
    $13,755
    Filer's total
    $195,320

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 · Travel for companions
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 7 · Other non-fixed payments

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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 1A
TRAVEL FOR COMPANIONS WAS PROVIDED TO DANA RASIC, PRESIDENT, CHAIR & DIRECTOR. THIS BENEFIT WAS INCLUDED IN TAXABLE COMPENSATION.
PART I, LINE 7
THE ORGANIZATION AND RELATED ENTITIES PAY DISCRETIONARY BONUSES TO THEIR OFFICERS, DIRECTORS, AND KEY EMPLOYEES FROM TIME TO TIME. THE FREQUENCY AND AMOUNT OF THE BONUSES ARE DETERMINED BY THE ADMINISTRATIVE COMMITTEE, CEO, OR OTHER MANAGEMENT, AND BASED ON FACTORS SUCH AS OVERALL JOB PERFORMANCE, SUBSTANTIAL EXTRA PROJECTS, ETC. THE ORGANIZATIONS DO NOT HAVE ANY EMPLOYMENT CONTRACTS WHICH OBLIGATE THE PAYMENT OF BONUSES IN THE FUTURE.

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.

Disregarded entities

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

  • BSLC THORNTON LLC

    SENIOR LIVING · CO · income $9,278,804 · assets $25,393,996

    Directly controlled by BETHESDA FOUNDATION

  • BSLC LOVELAND LLC

    SENIOR LIVING · CO · income $6,856,970 · assets $15,961,840

    Directly controlled by BETHESDA FOUNDATION

  • BSLC MONUMENT LLC

    SENIOR LIVING · CO · income $3,848,606 · assets $8,688,267

    Directly controlled by BETHESDA FOUNDATION

  • BSLC FRISCO LLC

    ASSISTED LIVING FACILITY · CO · income $4,937,393 · assets $22,697,228

    Directly controlled by BETHESDA FOUNDATION

  • BSLC SPRINGFIELD CONDOS LLC

    INDEPENDENT LIVING · CO · income $538,975 · assets $1,177,069

    Directly controlled by BETHESDA FOUNDATION

  • BETHESDA GARDENS BROADMOOR LLC

    ASSISTED LIVING FACILITY · CO · income $2,571,995 · assets $1,939,579

    Directly controlled by BETHESDA FOUNDATION

  • BETHESDA GARDENS GRAND JUNCTION LLC

    ASSISTED LIVING FACILITY · CO · income $225,000 · assets $3,618,750

    Directly controlled by BETHESDA FOUNDATION

  • BSLC PHOENIX HOLDINGS LLC

    PROPERTY OWNER · CO · income $1,143,427 · assets $14,823,741

    Directly controlled by BETHESDA FOUNDATION

Related corporations and trusts

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

  • BETHESDA REAL ESTATE COMPANY

    C · REAL ESTATE MANAGEMENT · CO · 100% owned · share of income $56,840 · share of assets $557,336 · controlled entity

    Directly controlled by BETHESDA ASSOCIATES

Provenance

Return type
form_990
Tax year
2024
Filed
17 August 2026
IRS schema version
2024v5.5
Source object
202622299349302327

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