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Nonprofiteer
← MONTGOMERY PLACE

Form 990 for tax year 2023

Filed by MONTGOMERY PLACE.

Totals

Total revenue
$19,236,169
Total expenses
$21,255,394
Contributions and grants received
$182,163
Grants paid
$0
Program service revenue
$18,448,829
Investment income
$364,103
Other revenue
$241,074
Total assets, end of year
$29,446,009
Total liabilities, end of year
$61,946,908
Net assets or fund balances, end of year
-$32,500,899
Program services expenses (Part IX)
$15,961,437
Management and general expenses
$5,293,957
Fundraising expenses
$0
Program service expenses (Part III)
$15,961,437

Program services were 75.1% 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

    $78,673

  • 1f · All other contributions, gifts and grants

    $103,490

  • 2a · Program service revenue: INDEPENDENT LIVING

    total $6,989,230 · related or exempt $6,989,230

  • 2b · Program service revenue: HEALTH CARE

    total $5,736,559 · related or exempt $5,736,559

  • 2c · Program service revenue: HOME CARE

    total $3,341,974 · related or exempt $3,341,974

  • 2d · Program service revenue: ASSISTED LIVING

    total $1,908,596 · related or exempt $1,908,596

  • 2e · Program service revenue: AMORTIZED ENTRANCE FEES

    total $472,470 · related or exempt $472,470

  • 3 · Investment income

    total $299,924 · excluded $299,924

  • 6a · Gross rents

    real property $16,580

  • 6b · Less rental expenses

    real property $12,505

  • 6c · Rental income or loss

    real property $4,075

  • 6d · Net rental income or loss

    total $4,075 · excluded $4,075

  • 7a · Gross sales of assets other than inventory

    securities $897,160

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

    securities $832,981

  • 7c · Gain or loss

    securities $64,179

  • 7d · Net gain or loss

    total $64,179 · excluded $64,179

  • 11a · Other revenue: GARAGE RENTAL

    total $223,520 · unrelated business $195,028 · excluded $28,492

  • 11b · Other revenue: OTHER REVENUE

    total $24,707 · excluded $24,707

  • 11c · Other revenue: CAFE LIBRARY

    total $13,536 · excluded $13,536

  • 11d · All other revenue

    total -$24,764 · excluded -$24,764

  • 11e · Other revenue, total

    $236,999

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $523,810 · management and general $523,810

  • 7 · Other salaries and wages

    total $8,378,225 · program services $6,740,094 · management and general $1,638,131

  • 9 · Other employee benefits

    total $722,016 · program services $638,629 · management and general $83,387

  • 10 · Payroll taxes

    total $840,112 · program services $568,572 · management and general $271,540

  • 11b · Fees: legal

    total $171,849 · management and general $171,849

  • 11c · Fees: accounting

    total $93,977 · management and general $93,977

  • 11f · Fees: investment management

    total $46,255 · management and general $46,255

  • 11g · Fees: other

    total $1,472,072 · program services $942,346 · management and general $529,726

  • 12 · Advertising and promotion

    total $826,510 · management and general $826,510

  • 14 · Information technology

    total $322,458 · program services $290,212 · management and general $32,246

  • 16 · Occupancy

    total $425,685 · program services $288,001 · management and general $137,684

  • 20 · Interest

    total $1,524,340 · program services $1,371,906 · management and general $152,434

  • 22 · Depreciation, depletion and amortization

    total $1,712,218 · program services $1,393,650 · management and general $318,568

  • 23 · Insurance

    total $522,934 · program services $470,640 · management and general $52,294

  • 24a · Other expenses: FOOD & SUPPLIES

    total $1,195,703 · program services $1,087,506 · management and general $108,197

  • 24b · Other expenses: ANCILLARY

    total $1,098,359 · program services $1,097,818 · management and general $541

  • 24c · Other expenses: OTHER ADMIN EXPENSE

    total $1,063,125 · program services $759,434 · management and general $303,691

  • 24d · Other expenses: REPAIRS & MAINTENANCE

    total $315,746 · program services $312,629 · management and general $3,117

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,145,190 · end of year $830,121

  • 4 · Accounts receivable

    beginning of year $1,451,850 · end of year $987,500

  • 9 · Prepaid expenses and deferred charges

    beginning of year $253,696 · end of year $161,376

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

    $63,115,512

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

    $46,450,663

  • 10c · Land, buildings and equipment, net

    beginning of year $18,084,305 · end of year $16,664,849

  • 11 · Investments: publicly traded securities

    beginning of year $7,357,191 · end of year $7,138,244

  • 12 · Investments: other securities

    beginning of year $71,139 · end of year $106,402

  • 13 · Investments: program-related

    beginning of year $2,259,663 · end of year $2,292,850

  • 15 · Other assets

    beginning of year $264,508 · end of year $1,264,667

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,427,750 · end of year $2,303,104

  • 19 · Deferred revenue

    beginning of year $1,745,565 · end of year $1,633,295

  • 20 · Tax-exempt bond liabilities

    beginning of year $27,333,593 · end of year $26,814,645

  • 25 · Other liabilities

    beginning of year $30,479,266 · end of year $31,195,864

  • 27 · Net assets without donor restrictions

    beginning of year -$31,098,632 · end of year -$32,500,899

Mission and programs · 2023

Mission

THE MISSION OF MONTGOMERY PLACE IS TO ENHANCE THE QUALITY OF LIFE FOR SENIOR ADULTS BY PROVIDING RETIREMENT HOUSING AND HEALTH SERVICES IN A NURTURING ENVIRONMENT THAT SUPPORTS EACH RESIDENT.

  • MONTGOMERY PLACE IS A LIFE PLAN CONTINUING CARE RETIREMENT COMMUNITY. RESIDENTS ARE OFFERED MULTIPLE OPTIONS IN INDEPENDENT LIVING APARTMENT SELECTION (VIEWS AND PRICES), VARYING MEAL PLANS, RESIDENT-DRIVEN DAILY ACTIVITIES AND OUTINGS. APARTMENTS INCLUDE FULL KITCHENS AND APPLIANCES, INCLUDING IN-UNIT WASHER/DRYERS. COMMON LIVING SPACES (BOTH IN THE BUILDING AND THE PARK-LIKE OUTDOORS SPACE) ENCOURAGE COMPANIONSHIP AND SATISFACTION OF PHYSICAL, INTELLECTUAL AND PSYCHOLOGICAL NEEDS. NOTABLE SERVICES AND AMENITIES INCLUDE COMPLIMENTARY WELLNESS SERVICES, BASIC PHONE, CABLE AND INTERNET, LIGHT HOUSEKEEPING/LINEN, ENTERTAINMENT AND TRANSPORTATION SERVICES, 24-HOUR LIVE SECURITY, CALL SYSTEM IN EACH UNIT, AND ON-SITE CHAPLAIN SERVICES.

    Expenses $8,309,288 · Revenue $8,936,716

  • THE MONTGOMERY PLACE CCRC CAMPUS INCLUDES A 40-BED, MEDICARE-CERTIFIED SKILLED NURSING FACILITY THAT OFFERS SHORT-TERM REHABILITATION, LONG-TERM CARE WITH MEMORY CARE OPTIONS. IT IS RATED A 5-STAR FACILITY BY THE CENTERS FOR MEDICARE AND MEDICAID SERVICES (CMS) AND RECOGNIZED AS ONE OF THE TOP PERFORMING FACILITIES IN THE NATION. RECOGNIZED FOR ITS SHORT-TERM REHAB OUTCOMES, IT HAS AFFILIATION WITH TWO MAJOR HOSPITAL NETWORKS IN CHICAGO.

    Expenses $3,683,564 · Revenue $5,736,559

  • LIFE CARE AT HOME, LLC IS A PRIVATE-DUTY HOME CARE AND HOME NURSING AGENCY PROVIDING SERVICES TO PRIVATE-PAY, FEE-FOR-SERVICE CLIENTS IN THEIR HOMES IN THE CHICAGO AREA. IT IS A NON-TAXABLE LLC, MANAGED BY ITS SOLE MEMBER MONTGOMERY PLACE. FLEXIBLY DESIGNED SERVICE PLANS MEET THE INDIVIDUAL NEEDS AND PREFERENCES OF CLIENTS. THE COMPANY ALSO PROVIDES CONTRACTED WELLNESS SERVICES TO MONTGOMERY PLACE.

    Expenses $3,506,304 · Revenue $3,303,084

  • Expenses $462,281 · Revenue $472,470

As filed on the 2023 return.

Listed in Part VII

  • Gregory L Gleason

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1 + 0.5 related

  • Charles Stewart

    VICE CHAIR - BEG. 9/2023

    Total calculated
    $0
    Hours/week
    1

  • Morag Fullilove

    VICE CHAIR - THRU 9/2023

    Total calculated
    $0
    Hours/week
    1 + 0.5 related

  • Scott Williamson

    TREASURER

    Total calculated
    $0
    Hours/week
    1 + 0.5 related

  • Deborah Franczek

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Constance Bonbrest MD

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 0.5 related

  • Suzanne Dutcher

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 0.5 related

  • Bryon Rosner MD

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Michael M McGarry

    PRESIDENT & CEO

    Total calculated
    $234,052
    From this org
    $224,070
    From related orgs
    $0
    Other
    $9,982
    Hours/week
    40 + 1 related

    Schedule J breakdown matched by us

    Base
    $224,070
    Bonus
    $0
    Other
    $0
    Deferred
    $108
    Nontaxable benefits
    $9,874
    Filer's total
    $234,052

  • Michael Clark

    CHIEF FINANCIAL OFFICER

    Total calculated
    $207,257
    From this org
    $183,425
    From related orgs
    $0
    Other
    $23,832
    Hours/week
    40 + 1 related

    Schedule J breakdown matched by us

    Base
    $161,425
    Bonus
    $22,000
    Other
    $0
    Deferred
    $16,647
    Nontaxable benefits
    $7,185
    Filer's total
    $207,257

  • Paul Zappoli

    CHIEF OPERATING OFFICER - PART YEAR

    Total calculated
    $82,501
    From this org
    $82,501
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Ann Mikso

    DIRECTOR OF SALES AND MARKETING

    Total calculated
    $157,520
    From this org
    $157,412
    From related orgs
    $0
    Other
    $108
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $157,412
    Bonus
    $0
    Other
    $0
    Deferred
    $108
    Nontaxable benefits
    $0
    Filer's total
    $157,520

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 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4a · Severance or change-of-control payment
  • 7 · Other non-fixed payments

Answered no

  • 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 4A
THE FOLLOWING INDIVIDUAL RECIEVED SEVERANCE PAYMENTS IN CALENDAR YEAR 2023: PAUL ZAPPOLI - $82,501
PART I, LINE 7
THE ORGANIZATION PROVIDES NON-FIXED PAYMENTS TO OFFICERS AND HIGHEST COMPENSATED EMPLOYEES ON AN ANNUAL BASIS. THE AMOUNT PROVIDED TO EACH INDIVIDUAL IS DETERMINED BY THE BOARD AND IS DISCRETIONARY IN NATURE. THE NON-FIXED PAYMENTS ARE REPORTED AS BONUS/INCENTIVE COMPENSATION IN PART II OF SCHEDULE J.

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.

  • THE CHURCH HOME

    501(C)(3) · PASTORAL CARE · IL · controlled entity

    Directly controlled by MONTGOMERY PLACE

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.

  • LIFE CARE AT HOME

    HOME CARE AND HOME NURSING SERVICES · IL · income $3,378,443 · assets $1,241,563

    Directly controlled by MONTGOMERY PLACE

Provenance

Return type
form_990
Tax year
2023
Filed
13 May 2025
IRS schema version
2023v6.0
Source object
202531339349308088

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