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Nonprofiteer
← VILLAGE AT CRYSTAL SPRING INC

Form 990 for tax year 2024

Filed by VILLAGE AT CRYSTAL SPRING INC.

Totals

Total revenue
$99,216
Total expenses
$1,567,052
Contributions and grants received
$300
Grants paid
$0
Program service revenue
$98,916
Investment income
$0
Other revenue
$0
Total assets, end of year
$40,129,266
Total liabilities, end of year
$57,552,141
Net assets or fund balances, end of year
-$17,422,875
Program services expenses (Part IX)
$1,245,769
Management and general expenses
$321,283
Fundraising expenses
$0
Program service expenses (Part III)
$1,245,769

Program services were 79.5% 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.

  • 1f · All other contributions, gifts and grants

    $300

  • 2a · Program service revenue: RESIDENT CANCELLATION

    total $89,616 · related or exempt $89,616

  • 2b · Program service revenue: ENTRANCE FEES

    total $9,300 · related or exempt $9,300

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $417,091 · program services $333,673 · management and general $83,418

  • 8 · Pension plan contributions

    total $15,718 · program services $12,574 · management and general $3,144

  • 9 · Other employee benefits

    total $46,758 · program services $37,406 · management and general $9,352

  • 10 · Payroll taxes

    total $29,903 · program services $23,922 · management and general $5,981

  • 11c · Fees: accounting

    total $9,840 · management and general $9,840

  • 11g · Fees: other

    total $100,911 · program services $80,729 · management and general $20,182

  • 12 · Advertising and promotion

    total $455,891 · program services $364,713 · management and general $91,178

  • 13 · Office expenses

    total $7,313 · program services $5,850 · management and general $1,463

  • 16 · Occupancy

    total $270,076 · program services $216,061 · management and general $54,015

  • 17 · Travel

    total $272 · program services $218 · management and general $54

  • 22 · Depreciation, depletion and amortization

    total $177,462 · program services $141,970 · management and general $35,492

  • 23 · Insurance

    total $6,683 · program services $5,346 · management and general $1,337

  • 24a · Other expenses: DUES & SUBSCRIPTIONS

    total $23,433 · program services $18,746 · management and general $4,687

  • 24b · Other expenses: FOOD

    total $4,490 · program services $3,592 · management and general $898

  • 24c · Other expenses: REPAIRS & MAINTENANCE

    total $1,211 · program services $969 · management and general $242

Balance sheet

Part X, book values.

  • 9 · Prepaid expenses and deferred charges

    beginning of year $18,585 · end of year $42,288

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

    $26,323,245

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

    $177,462

  • 10c · Land, buildings and equipment, net

    beginning of year $23,927,781 · end of year $26,145,783

  • 11 · Investments: publicly traded securities

    beginning of year $11,474,433 · end of year $13,238,319

  • 15 · Other assets

    beginning of year $348,247 · end of year $702,876

  • 17 · Accounts payable and accrued expenses

    beginning of year $743,009 · end of year $1,104,343

  • 23 · Secured mortgages and notes payable

    beginning of year $9,367,946 · end of year $9,500,000

  • 25 · Other liabilities

    beginning of year $41,613,130 · end of year $46,947,798

  • 27 · Net assets without donor restrictions

    beginning of year -$15,961,539 · end of year -$17,429,675

  • 28 · Net assets with donor restrictions

    beginning of year $6,500 · end of year $6,800

Mission and programs · 2024

Mission

THE ORGANIZATION HONORS, INSPIRES AND SUPPORTS CHOICE AND OPPORTUNITY IN PARTNERSHIP WITH OLDER ADULTS.

Activities or mission (Part I)

WILL PROVIDE INDEPENDENT LIVING APARTMENTS, COTTAGES AND HEALTH CARE SUITES TO OLDER ADULTS.

  • THE VILLAGE AT PROVIDENCE POINT WAS FORMED TO ACQUIRE, DEVELOP AND OPERATE PROPERTY LOCATED IN ANNAPOLIS, MARYLAND, AS A CONTINUING CARE RETIREMENT COMMUNITY TO SUPPORT THE MISSION OF NATIONAL LUTHERAN, INC.

    Expenses $1,245,769 · Revenue $98,916

As filed on the 2024 return.

Listed in Part VII

  • John Wertz Jr

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Michael Brady

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Chaplin Paula Thistle

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Cynthia Walters

    PRESIDENT/CEO

    Total calculated
    $497,990
    From this org
    $0
    From related orgs
    $466,897
    Other
    $31,093
    Hours/week
    5 + 35 related

    Schedule J breakdown matched by us

    Base
    $0 + $440,313 related
    Bonus
    $0 + $25,000 related
    Other
    $0 + $1,584 related
    Deferred
    $0 + $13,339 related
    Nontaxable benefits
    $0 + $17,754 related
    Filer's total
    $0 + $497,990 related

  • Donna Casner

    VICE PRESIDENT FINANCE

    Total calculated
    $239,617
    From this org
    $0
    From related orgs
    $221,190
    Other
    $18,427
    Hours/week
    5 + 35 related

    Schedule J breakdown matched by us

    Base
    $0 + $209,997 related
    Bonus
    $0 + $10,641 related
    Other
    $0 + $552 related
    Deferred
    $0 + $8,169 related
    Nontaxable benefits
    $0 + $10,258 related
    Filer's total
    $0 + $239,617 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

  • 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 3
THE ORGANIZATION'S CEO IS PAID BY NATIONAL LUTHERAN, INC. NATIONAL LUTHERAN, INC. USES THE FOLLOWING METHODS TO ESTABLISH THE COMPENSATION OF THE CEO: - COMPENSATION COMMITTEE - INDEPENDENT COMPENSATION CONSULTANT - FORM 990 OF OTHER ORGANIZATIONS - COMPENSATION SURVEY OR STUDY - APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE
PART I, LINE 7
BONUS COMPENSATION IS PAID IN ACCORDANCE WITH THE ORGANIZATION'S COMPENSATION PHILOSOPHY POLICY, WHICH INCLUDES OPTIONS SUCH AS DISCRETIONARY AND SPOT BONUSES BASED ON INDIVIDUAL OR COMPANY PERFORMANCE.

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
2024
Filed
4 August 2025
IRS schema version
2024v5.2
Source object
202532179349301538

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