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Nonprofiteer
← DEERFIELD EPISCOPAL RETIREMENT COMM INC

Form 990 for tax year 2022

Filed by DEERFIELD EPISCOPAL RETIREMENT COMM INC.

Totals

Total revenue
$45,645,787
Total expenses
$40,888,792
Contributions and grants received
$1,650,416
Grants paid
$1,030,844
Program service revenue
$39,636,610
Investment income
$4,028,920
Other revenue
$329,841
Total assets, end of year
$252,466,839
Total liabilities, end of year
$161,003,740
Net assets or fund balances, end of year
$91,463,099
Program services expenses (Part IX)
$36,495,397
Management and general expenses
$4,231,591
Fundraising expenses
$161,804
Program service expenses (Part III)
$36,495,397

Program services were 89.3% 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.

  • 1d · Related organizations

    $387,261

  • 1f · All other contributions, gifts and grants

    $1,263,155

  • 2a · Program service revenue: RESIDENT FEES

    total $28,927,302 · related or exempt $28,927,302

  • 2b · Program service revenue: AMORTIZATION OF ENTRANCE FEES

    total $10,108,781 · related or exempt $10,108,781

  • 2c · Program service revenue: ADDITIONAL RESIDENT SERVICES

    total $600,527 · related or exempt $600,527

  • 3 · Investment income

    total $2,492,431 · excluded $2,492,431

  • 7a · Gross sales of assets other than inventory

    securities $1,536,489

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

    securities $0

  • 7c · Gain or loss

    securities $1,536,489

  • 7d · Net gain or loss

    total $1,536,489 · excluded $1,536,489

  • 10a · Gross sales of inventory

    $8,691

  • 10b · Cost of goods sold

    $7,141

  • 10c · Net income from sales of inventory

    total $1,550 · excluded $1,550

  • 11a · Other revenue: MISCELLANEOUS REVENUE

    total $328,291 · excluded $328,291

  • 11e · Other revenue, total

    $328,291

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,016,933 · program services $1,016,933

  • 2 · Grants to domestic individuals

    total $13,911 · program services $13,911

  • 5 · Compensation of officers, directors and key employees

    total $2,534,409 · program services $1,188,153 · management and general $1,346,256

  • 7 · Other salaries and wages

    total $11,714,959 · program services $10,684,884 · management and general $937,239 · fundraising $92,836

  • 8 · Pension plan contributions

    total $180,818 · program services $128,524 · management and general $49,604 · fundraising $2,690

  • 9 · Other employee benefits

    total $2,472,249 · program services $2,065,072 · management and general $393,182 · fundraising $13,995

  • 10 · Payroll taxes

    total $998,006 · program services $867,669 · management and general $123,595 · fundraising $6,742

  • 11b · Fees: legal

    total $189,307 · management and general $189,307

  • 11c · Fees: accounting

    total $300,986 · management and general $300,986

  • 11g · Fees: other

    total $3,209,164 · program services $3,201,164 · fundraising $8,000

  • 12 · Advertising and promotion

    total $220,640 · management and general $207,325 · fundraising $13,315

  • 13 · Office expenses

    total $2,272,565 · program services $1,618,886 · management and general $630,179 · fundraising $23,500

  • 14 · Information technology

    total $263,317 · program services $263,317

  • 16 · Occupancy

    total $3,916,265 · program services $3,916,265

  • 17 · Travel

    total $50,658 · program services $7,649 · management and general $42,298 · fundraising $711

  • 19 · Conferences, conventions and meetings

    total $50,652 · program services $39,017 · management and general $11,620 · fundraising $15

  • 20 · Interest

    total $1,547,796 · program services $1,547,796

  • 22 · Depreciation, depletion and amortization

    total $6,680,782 · program services $6,680,782

  • 23 · Insurance

    total $355,401 · program services $355,401

  • 24a · Other expenses: FOOD

    total $2,516,953 · program services $2,516,953

  • 24b · Other expenses: MEDICAL SUPPLIES

    total $321,448 · program services $321,448

  • 24c · Other expenses: RESIDENT EVENTS

    total $57,041 · program services $57,041

  • 24d · Other expenses: EMERGENCY DISASTER

    total $4,532 · program services $4,532

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $550 · end of year $550

  • 2 · Savings and temporary cash investments

    beginning of year $9,895,700 · end of year $12,255,886

  • 4 · Accounts receivable

    beginning of year $1,266,174 · end of year $1,557,309

  • 8 · Inventories for sale or use

    beginning of year $113,207 · end of year $175,485

  • 9 · Prepaid expenses and deferred charges

    beginning of year $301,739 · end of year $294,850

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

    $226,772,561

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

    $96,663,480

  • 10c · Land, buildings and equipment, net

    beginning of year $133,189,787 · end of year $130,109,081

  • 11 · Investments: publicly traded securities

    beginning of year $81,120,741 · end of year $91,971,738

  • 15 · Other assets

    beginning of year $15,738,635 · end of year $16,101,940

  • 17 · Accounts payable and accrued expenses

    beginning of year $6,091,486 · end of year $6,988,856

  • 19 · Deferred revenue

    beginning of year $104,690,543 · end of year $106,318,066

  • 20 · Tax-exempt bond liabilities

    beginning of year $49,117,892 · end of year $45,823,744

  • 25 · Other liabilities

    beginning of year $1,764,588 · end of year $1,873,074

  • 27 · Net assets without donor restrictions

    beginning of year $71,682,930 · end of year $81,739,193

  • 28 · Net assets with donor restrictions

    beginning of year $8,279,094 · end of year $9,723,906

Mission and programs · 2022

Mission

THE MISSION OF DEERFIELD EPISCOPAL RETIREMENT COMMUNITY, INC. IS TO OPERATE A NONPROFIT RETIREMENT COMMUNITY GUIDED BY CHRISTIAN IDEALS, TO OFFER A CONTINUUM OF CARE TO ALL PEOPLE, TO PROMOTE INDEPENDENCE AND THE HIGHEST QUALITY OF LIFE, AND TO PROVIDE PHYSICAL AND FINANCIAL SECURITY.

Activities or mission (Part I)

LIFETIME CARE IN A RELIGIOUS ATMOSPHERE

  • DEERFIELD EPISCOPAL RETIREMENT COMMUNITY, INC. ("DEERFIELD"), A NORTH CAROLINA NONPROFIT CORPORATION, WAS ORGANIZED FOR THE PURPOSE OF OPERATING A CONTINUING CARE RETIREMENT COMMUNITY. DEERFIELD IS GOVERNED BY A BOARD OF DIRECTORS, WHICH IS COMPOSED OF INDEPENDENT CIVIC LEADERS WHO SERVE WITHOUT COMPENSATION.REV. RUL. 72-124, 1972-1 C.B. 145, SETS OUT REQUIREMENTS THAT "HOMES FOR THE AGED" MUST MEET TO QUALIFY FOR SECTION 501(C)(3) EXEMPTION. THE INTERNAL REVENUE SERVICE PROVIDED THE FOLLOWING REQUIREMENTS: (1) SATISFACTION OF THE NEED FOR HOUSING THROUGH THE PROVISION OF EMOTIONAL, RECREATIONAL, SOCIAL, RELIGIOUS, AND SIMILAR NEEDS OF AGED PERSONS; (2) SATISFACTION OF THE NEED FOR HEALTH CARE THROUGH PROVISION OF PHYSICAL AND MENTAL HEALTH SERVICES DIRECTLY OR THROUGH CONTINUING ARRANGEMENTS WITH OUTSIDE ORGANIZATIONS; AND (3) SATISFACTION OF THE NEED FOR FINANCIAL SECURITY THROUGH MAINTAINING IN RESIDENCE ANY PERSONS WHO BECOME UNABLE TO PAY THEIR REGULAR CHARGE AND THROUGH PROVIDING SERVICES AT THE LOWEST FEASIBLE COST. DEERFIELD SATISFIES ALL THREE REQUIREMENTS.IN CONJUNCTION WITH ITS COMMITMENT TO MAINTAINING PERSONS IN RESIDENCE WHO BECOME UNABLE TO PAY, DEERFIELD HAS ESTABLISHED A BENEVOLENT ASSISTANCE FUND, WHICH IS USED FOR THE EXCLUSIVE PURPOSE OF PROVIDING ASSISTANCE TO RESIDENTS IN NEED. SUCH RESIDENTS ARE IDENTIFIED BASED ON FINANCIAL INFORMATION OBTAINED FROM THE RESIDENT AND SUBSEQUENT REVIEW AND ANALYSIS. DURING THE YEAR ENDED SEPTEMBER 30, 2023 THE CHARGES FORGONE RELATED TO DEERFIELD'S BENEVOLENT ASSISTANCE PROGRAM WERE APPROXIMATELY $396,000.EXCEPT FOR SOME PRE-EXISTING FEE-FOR-SERVICE CONTRACTS, DEERFIELD OPERATES UNDER THE "LIFE CARE" CONCEPT WHEREBY RESIDENTS ENTER INTO AN AGREEMENT WITH THE ORGANIZATION THAT SPECIFIES THE SERVICES AND FACILITIES TO BE PROVIDED TO THE RESIDENT OVER HIS OR HER REMAINING LIFE. THE AGREEMENT REQUIRES PAYMENT OF A ONE-TIME ENTRANCE FEE AND DEERFIELD'S MONTHLY SERVICE FEES. UNDER THE AGREEMENT, DEERFIELD HAS THE ABILITY TO INCREASE FEES AS DEEMED NECESSARY.IN FURTHERANCE OF ITS CHARITABLE PURPOSE, DEERFIELD PROVIDES MEETING AND OFFICE SPACE FOR THREE NON-PROFIT ORGANIZATIONS ON ITS GROUNDS. THE ANNUAL RENTAL INCOME FOREGONE IS VALUED AT AN ESTIMATED $303,000 DURING THE YEAR ENDED SEPTEMBER 30, 2023DEERFIELD ALSO PROVIDES NUMEROUS COMMUNITY BENEFITS WHICH INCLUDE CHARITABLE DONATIONS AND DONATED VOLUNTEER SERVICES IN THE AMOUNTS OF $1,370,000 DURING THE YEAR ENDED SEPTEMBER 30, 2023

    Expenses $36,495,397 · Grants $1,030,844 · Revenue $39,636,610

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

Listed in Part VII

  • Jeff Covington

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Roba Whiteley

    CHAIR

    Total calculated
    $0
    Hours/week
    2

  • John Fleming

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Virginia Templeton

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Glenn Mayes

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Isaac Owolabi

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Laurel Radley

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Eugene Carr

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Bill Clontz

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Suzanne Dawkins

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Chris Dismukes

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Rev Todd Donatelli

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Robert Kieffer

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Brenda Nash

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Pat Baker

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • The Rt Rev Jose McLoughlin

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Tom Owens

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Dave Brown

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Libby Bush

    CEO (BEGINNING AUG. '22)

    Total calculated
    $182,904
    From this org
    $178,842
    From related orgs
    $0
    Other
    $4,062
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $111,250
    Bonus
    $67,592
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $4,062
    Filer's total
    $182,904

  • Robert F Wernet Jr

    CEO (THROUGH SEPT. '22)

    Total calculated
    $1,880,043
    From this org
    $1,863,015
    From related orgs
    $0
    Other
    $17,028
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $222,723
    Bonus
    $62,584
    Other
    $1,577,708
    Deferred
    $8,623
    Nontaxable benefits
    $8,405
    Filer's total
    $1,880,043

  • Robert Chandler

    CFO

    Total calculated
    $403,354
    From this org
    $269,586
    From related orgs
    $0
    Other
    $133,768
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $223,185
    Bonus
    $45,100
    Other
    $1,301
    Deferred
    $115,335
    Nontaxable benefits
    $18,433
    Filer's total
    $403,354

  • Matt Sharpe

    COO

    Total calculated
    $228,735
    From this org
    $222,967
    From related orgs
    $0
    Other
    $5,768
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $188,356
    Bonus
    $23,565
    Other
    $11,046
    Deferred
    $5,768
    Nontaxable benefits
    $0
    Filer's total
    $228,735

  • Keith Einsmann

    DIRECTOR OF FACILITIES

    Total calculated
    $184,273
    From this org
    $162,873
    From related orgs
    $0
    Other
    $21,400
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $145,569
    Bonus
    $14,500
    Other
    $2,804
    Deferred
    $2,967
    Nontaxable benefits
    $18,433
    Filer's total
    $184,273

  • Brian King

    DIRECTOR OF HEALTH & WELLN

    Total calculated
    $174,040
    From this org
    $151,075
    From related orgs
    $0
    Other
    $22,965
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $132,900
    Bonus
    $15,565
    Other
    $2,610
    Deferred
    $4,532
    Nontaxable benefits
    $18,433
    Filer's total
    $174,040

  • Cindy Clampett

    DIRECTOR OF NURSING

    Total calculated
    $136,793
    From this org
    $127,370
    From related orgs
    $0
    Other
    $9,423
    Hours/week
    40

  • Kathy Foster

    DIRECTOR OF MARKETING

    Total calculated
    $146,515
    From this org
    $133,099
    From related orgs
    $0
    Other
    $13,416
    Hours/week
    40

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 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 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

The filer's explanations (Part III)

PART I, LINE 4B
ROBERT WERNET, CEO AND ROBERT CHANDLER, CFO PARTICIPATE IN A SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN. THE BOARD INCLUDES THESE AMOUNTS IN HIS ANNUAL COMPENSATION REVIEW AND APPROVAL PROCESS. DURING CALENDAR YEAR 2022, UNDER THE TERMS OF THE PLAN $1,432,417 WAS INCLUDED IN ROBERT WERNET, CEO'S FORM W-2 DURING CALENDAR YEAR 2022, UNDER THE TERMS OF THE PLAN $107,286 WAS ACCRUED FOR ROBERT CHANDLER, CFO

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

The 10 largest by cash amount. The API serves every itemized grant.

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
15 August 2024
IRS schema version
2022v5.0
Source object
202442289349302034

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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