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Nonprofiteer
← VIAMONTE SENIOR LIVING 1 INC

Form 990 for tax year 2022

Filed by VIAMONTE SENIOR LIVING 1 INC.

Totals

Total revenue
$13,202,283
Total expenses
$19,150,505
Contributions and grants received
$46,500
Grants paid
$0
Program service revenue
$12,478,278
Investment income
$670,313
Other revenue
$7,192
Total assets, end of year
$246,637,848
Total liabilities, end of year
$251,508,498
Net assets or fund balances, end of year
-$4,870,650
Program services expenses (Part IX)
$16,392,319
Management and general expenses
$2,758,186
Fundraising expenses
$0
Program service expenses (Part III)
$16,392,319

Program services were 85.6% 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

    $46,500

  • 2a · Program service revenue: RESIDENT FEES

    total $7,901,264 · related or exempt $7,901,264

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

    total $3,862,273 · related or exempt $3,862,273

  • 2c · Program service revenue: SERVICE FEES

    total $714,741 · related or exempt $714,741

  • 3 · Investment income

    total $670,313 · excluded $670,313

  • 11a · Other revenue: OTHER INCOME

    total $7,192 · related or exempt $7,192

  • 11e · Other revenue, total

    $7,192

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $273,126 · management and general $273,126

  • 7 · Other salaries and wages

    total $3,286,014 · program services $2,502,116 · management and general $783,898

  • 9 · Other employee benefits

    total $630,958 · program services $461,482 · management and general $169,476

  • 10 · Payroll taxes

    total $265,720 · program services $190,282 · management and general $75,438

  • 11a · Fees: management

    total $2,742,522 · program services $2,532,063 · management and general $210,459

  • 11b · Fees: legal

    total $9,576 · management and general $9,576

  • 11c · Fees: accounting

    total $39,028 · management and general $39,028

  • 11g · Fees: other

    total $1,158,833 · program services $930,380 · management and general $228,453

  • 12 · Advertising and promotion

    total $302,341 · program services $276,312 · management and general $26,029

  • 13 · Office expenses

    total $481,833 · program services $388,890 · management and general $92,943

  • 14 · Information technology

    total $136,433 · program services $850 · management and general $135,583

  • 16 · Occupancy

    total $908,996 · program services $837,935 · management and general $71,061

  • 17 · Travel

    total $6,371 · program services $3,944 · management and general $2,427

  • 19 · Conferences, conventions and meetings

    total $23,465 · program services $6,462 · management and general $17,003

  • 20 · Interest

    total $4,231,931 · program services $4,231,931

  • 22 · Depreciation, depletion and amortization

    total $3,337,293 · program services $3,337,293

  • 23 · Insurance

    total $272,165 · management and general $272,165

  • 24a · Other expenses: REPAIR AND MAINTENANCE

    total $570,576 · program services $426,055 · management and general $144,521

  • 24b · Other expenses: OTHER TAXES AND LICENSE

    total $43,133 · management and general $43,133

  • 24c · Other expenses: FOOD

    total $3,996 · program services $3,121 · management and general $875

  • 24e · All other expenses

    total $426,195 · program services $263,203 · management and general $162,992

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,287,008 · end of year $104,572

  • 2 · Savings and temporary cash investments

    beginning of year $54,842,086 · end of year $64,208,650

  • 9 · Prepaid expenses and deferred charges

    beginning of year $0 · end of year $45,517

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

    $186,746,630

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

    $7,179,216

  • 10c · Land, buildings and equipment, net

    beginning of year $182,760,847 · end of year $179,567,414

  • 11 · Investments: publicly traded securities

    beginning of year $3,220,451 · end of year $2,711,695

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,666,939 · end of year $1,989,162

  • 20 · Tax-exempt bond liabilities

    beginning of year $131,745,761 · end of year $107,182,567

  • 21 · Escrow or custodial account liability

    beginning of year $3,219,866 · end of year $2,711,110

  • 25 · Other liabilities

    beginning of year $103,400,254 · end of year $139,625,659

  • 27 · Net assets without donor restrictions

    beginning of year $1,077,572 · end of year -$4,870,650

Mission and programs · 2022

Mission

VSL'S MISSION IS TO DESIGN, FINANCE, CONSTRUCT AND OPERATE A CONTINUING CARE RETIREMENT COMMUNITY IN WALNUT CREEK, CALIFORNIA ON A NON PROFIT, NONDENOMINATIONAL BASIS AND TO ENGAGE IN ANY OTHER ACTIVITIES THAT FURTHER SUCH PURPOSE.

Activities or mission (Part I)

VIAMONTE SENIOR LIVING 1, INC. ("VSL") PROVIDES ORGANIZATION STRUCTURE AND LEADERSHIP TO MEET THE NEEDS AND IMPROVE THE QUALITY OF LIFE OF OLDER PERSONS BY OFFERING HOUSING AND PROGRAMS.

  • CONSTRUCTION AND OPERATION OF A CONTINUING CARE RETIREMENT COMMUNITY IN WALNUT CREEK, CALIFORNIA ON A NONPROFIT, NONDENOMINATIONAL BASIS. THE NEW FACILITY ("VIAMONTE") OPENED IN NOVEMBER 2020 AND CONSISTS OF 174 INDEPENDENT LIVING UNITS, WITH AN ADDITIONAL 7 ASSISTED LIVING UNITS AND 10 MEMORY CARE UNITS OPENED IN 2021. IN ADDITION, VIAMONTE ALSO PROVIDES ITS RESIDENTS WITH MEALS, HOUSEKEEPING, LAUNDRY, MAINTENANCE, AND TRANSPORTATION SERVICES, AS WELL AS SALON AND SPA SERVICES. RESIDENTS ARE ALSO ENCOURAGED TO PARTICIPATE IN VARIOUS ACTIVITIES PROVIDED BY VIAMONTE, INCLUDING SOCIAL, PHYSICAL AND CULTURAL ACTIVITIES, E.G., GAMES, YOGA, ETC.

    Expenses $16,392,319 · Revenue $12,485,470

As filed on the 2022 return.

Listed in Part VII

  • Sara McVey

    PRESIDENT AND CEO

    Total calculated
    $659,370
    From this org
    $0
    From related orgs
    $624,833
    Other
    $34,537
    Hours/week
    2 + 38 related

    Schedule J breakdown matched by us

    Base
    $0 + $521,548 related
    Bonus
    $0 + $100,800 related
    Other
    $0 + $2,485 related
    Deferred
    $0 + $23,190 related
    Nontaxable benefits
    $0 + $11,347 related
    Filer's total
    $0 + $659,370 related

  • Charles Shoemake

    CFO

    Total calculated
    $443,118
    From this org
    $0
    From related orgs
    $403,845
    Other
    $39,273
    Hours/week
    2 + 38 related

    Schedule J breakdown matched by us

    Base
    $0 + $328,850 related
    Bonus
    $0 + $58,300 related
    Other
    $0 + $16,695 related
    Deferred
    $0 + $15,471 related
    Nontaxable benefits
    $0 + $23,802 related
    Filer's total
    $0 + $443,118 related

  • Martha A Atwood

    CHIEF HR & COMPLIANCE OFFICER

    Total calculated
    $360,425
    From this org
    $0
    From related orgs
    $314,153
    Other
    $46,272
    Hours/week
    2 + 38 related

    Schedule J breakdown matched by us

    Base
    $0 + $259,359 related
    Bonus
    $0 + $48,800 related
    Other
    $0 + $5,994 related
    Deferred
    $0 + $11,813 related
    Nontaxable benefits
    $0 + $34,459 related
    Filer's total
    $0 + $360,425 related

  • David J Latina

    CHIEF BUSINESS DEVELOPMENT OFFICER

    Total calculated
    $332,824
    From this org
    $0
    From related orgs
    $290,109
    Other
    $42,715
    Hours/week
    10 + 30 related

    Schedule J breakdown matched by us

    Base
    $0 + $261,657 related
    Bonus
    $0 + $22,800 related
    Other
    $0 + $5,652 related
    Deferred
    $0 + $10,782 related
    Nontaxable benefits
    $0 + $31,933 related
    Filer's total
    $0 + $332,824 related

  • Melody Mitchell Allan

    EXECUTIVE DIRECTOR, VIAMONTE

    Total calculated
    $295,745
    From this org
    $0
    From related orgs
    $251,911
    Other
    $43,834
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $222,673 related
    Bonus
    $0 + $25,500 related
    Other
    $0 + $3,738 related
    Deferred
    $0 + $9,375 related
    Nontaxable benefits
    $0 + $34,459 related
    Filer's total
    $0 + $295,745 related

  • David Jamison

    CHAIR

    Total calculated
    $0
    Hours/week
    0.1 + 0.9 related

  • Steve Herman

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    0.1 + 0.9 related

  • Gary Freeman

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.1 + 0.9 related

  • Phillip Placier

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.1 + 0.9 related

  • Michele Stratton

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.2 + 0.8 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

None.

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
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3
VIAMONTE SENIOR LIVING 1, INC. DOES NOT COMPENSATE ANY DIRECTOR, OFFICER, OR EMPLOYEE. COMPENSATION IS PROVIDED BY A RELATED ORGANIZATION. IN DETERMINING THE COMPENSATION OF THE CEO, THE RELATED ORGANIZATION USES SEVERAL METHODS INCLUDING REVIEW BY THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS, INDEPENDENT CONSULTANT, COMPENSATION SURVEY OR STUDY, AND APPROVAL BY THE BOARD.

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.

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.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • EASTERN PARK APARTMENTS LP

    REAL ESTATE · CA

  • TOWN PARK TOWERS LP

    REAL ESTATE · CA

  • WESTERN PARK APARTMENTS LP

    REAL ESTATE · CA

Related corporations and trusts

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

  • SL SENIOR VENTURES LLC

    C · PROPERTY MGMT · CA

Provenance

Return type
form_990
Tax year
2022
Filed
19 October 2023
IRS schema version
2022v5.0
Source object
202322999349301747

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