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← METHODIST HOME FOR THE AGING

Form 990 for tax year 2022

Filed by METHODIST HOME FOR THE AGING.

Totals

Total revenue
$83,666
Total expenses
$111,880
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$83,147
Investment income
$7
Other revenue
$512
Total assets, end of year
$641,271
Total liabilities, end of year
$54,097
Net assets or fund balances, end of year
$587,174
Program services expenses (Part IX)
$94,763
Management and general expenses
$17,117
Fundraising expenses
$0
Program service expenses (Part III)
$94,763

Program services were 84.7% 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.

  • 2a · Program service revenue: Rental Income

    total $51,242 · related or exempt $51,242

  • 2b · Program service revenue: Tenant Assistance Paym

    total $31,905 · related or exempt $31,905

  • 3 · Investment income

    total $7 · excluded $7

  • 11a · Other revenue: Laundry & Vending Inco

    total $512 · related or exempt $512

  • 11e · Other revenue, total

    $512

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $24,792 · program services $24,792

  • 9 · Other employee benefits

    total $1,070 · program services $1,070

  • 10 · Payroll taxes

    total $1,829 · program services $1,829

  • 11a · Fees: management

    total $5,166 · management and general $5,166

  • 11c · Fees: accounting

    total $11,951 · management and general $11,951

  • 13 · Office expenses

    total $3,236 · program services $3,236

  • 16 · Occupancy

    total $18,582 · program services $18,582

  • 22 · Depreciation, depletion and amortization

    total $33,749 · program services $33,749

  • 23 · Insurance

    total $10,187 · program services $10,187

  • 24a · Other expenses: Operating & Maintenace

    total $1,318 · program services $1,318

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $7,066 · end of year $3,610

  • 4 · Accounts receivable

    beginning of year $1,961 · end of year $5,855

  • 9 · Prepaid expenses and deferred charges

    beginning of year $10,227 · end of year $8,856

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

    $1,334,082

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

    $735,662

  • 10c · Land, buildings and equipment, net

    beginning of year $630,730 · end of year $598,420

  • 15 · Other assets

    beginning of year $19,512 · end of year $24,530

  • 17 · Accounts payable and accrued expenses

    beginning of year $50,753 · end of year $10,483

  • 25 · Other liabilities

    beginning of year $3,355 · end of year $43,614

  • 27 · Net assets without donor restrictions

    beginning of year -$444,702 · end of year -$472,916

  • 28 · Net assets with donor restrictions

    beginning of year $1,060,090 · end of year $1,060,090

Mission and programs · 2022

Mission

Provide subsidized housing for the elderly.

  • To provide low-income housing through HUD section 202 and section 8 programs.

    Expenses $94,763 · Revenue $83,659

As filed on the 2022 return.

Listed in Part VII

  • Robert C Scales Sr

    President

    Total calculated
    $0
    Hours/week
    0

  • Carl R Long

    Vice President

    Total calculated
    $0
    Hours/week
    0

  • Robert L McKee III

    Secretary

    Total calculated
    $0
    Hours/week
    0

  • Christopher W Tomlin

    President & CEO

    Total calculated
    $384,204
    From this org
    $0
    From related orgs
    $384,204
    Other
    $0
    Hours/week
    1 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $384,204 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $384,204 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

  • 3 · Compensation committee
  • 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 3
Compensation Process for Top Officials- The Finance Committee of the Board of the Methodist Home for the Aging shall set the compensation for the executive staff. The executive staff shall recommend compensation for key employees and staff at all the facilities. The recommendations are reviewed, approved or modified by the finance committee. Wesley Acres II Officers are not compensated.
Part I, Line 4b
Christhopher Tomlin $20,496 in Nonqualified benefit

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
14 May 2024
IRS schema version
2022v5.0
Source object
202401359349308865

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