Form 990 for tax year 2023

Filed by CATHEDRAL GERONTOLOGY CENTER INC.

Totals

Total revenue: $2,363
Total expenses: $292,642
Contributions and grants received: $0
Grants paid: $0
Program service revenue: $2,338
Investment income: $25
Other revenue: $0
Total assets, end of year: $699,950
Total liabilities, end of year: $9,038,118
Net assets or fund balances, end of year: -$8,338,168
Program services expenses (Part IX): $116,504
Management and general expenses: $176,138
Fundraising expenses: $0
Program service expenses (Part III): $116,504

Program services were 39.8% 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: NET PATIENT REVENUE

total $2,338 · related or exempt $2,338
3 · Investment income

total $25 · excluded $25

Functional expenses

Part IX, the statement of functional expenses.

9 · Other employee benefits

total $1,384 · program services $1,384
10 · Payroll taxes

total $4,415 · program services $3,090 · management and general $1,325
11b · Fees: legal

total $1,944 · management and general $1,944
11c · Fees: accounting

total $1,679 · management and general $1,679
11g · Fees: other

total $14,026 · management and general $14,026
12 · Advertising and promotion

total $589 · management and general $589
13 · Office expenses

total $20,055 · management and general $20,055
14 · Information technology

total $11,418 · program services $5,709 · management and general $5,709
16 · Occupancy

total $116,933 · program services $116,933
23 · Insurance

total $98,999 · program services -$10,612 · management and general $109,611
24a · Other expenses: BAD DEBTS

total $15,953 · management and general $15,953
24b · Other expenses: TAXES, LICENSES&PERMITS

total $4,872 · management and general $4,872
24c · Other expenses: OTHER

total $375 · management and general $375

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $20,026 · end of year $5,880
9 · Prepaid expenses and deferred charges

beginning of year $142,119 · end of year $27,403
15 · Other assets

beginning of year $1,000,000 · end of year $666,667
17 · Accounts payable and accrued expenses

beginning of year $368,067 · end of year $32,342
19 · Deferred revenue

beginning of year $333,333 · end of year $333,333
23 · Secured mortgages and notes payable

beginning of year $4,023,500
25 · Other liabilities

beginning of year $4,478,033 · end of year $8,672,443
27 · Net assets without donor restrictions

beginning of year -$8,040,788 · end of year -$8,338,168

Mission and programs · 2023

Mission

THE ORGANIZATION'S PURPOSE WAS TO PROVIDE LONG-TERM NURSING CARE THROUGH THE OPERATION OF A 120-BED SKILLED NURSING FACILITY WHICH IT LEASED FROM CATHEDRAL FOUNDATION OF JACKSONVILLE, INC. ON DECEMBER 30, 2022, THE ORGANIZATION, IN ASSOCIATION WITH THE CATHEDRAL FOUNDATION OF JACKSONVILLE, INC. FINALIZED ACCORDING TO THE TERMS OF BOTH AN ASSET PURCHASE AGREEMENT AND AN OPERATIONAL TRANSITION AGREEMENT FOR THE SALE OF THE NURSING HOME AND THE REAL ESTATE AT 333 ASHLEY, THE SITE OF THE CGC NURSING HOME OPERATION. AS THE RESULT OF THIS SALE, THE ORGANIZATION IS NO LONGER IN THE NURSING HOME OPERATIONS BUSINESS. THE BOARD HAS DECIDED THAT THE ORGANIZATION WILL ONLY MAINTAIN LIMITED FINANCIAL ACTIVITY UNTIL SUCH TIME AS A DETERMINATION IS MADE ON THE STATUS OF ITS APPLICATION WITH THE IRS FOR THE EMPLOYEE RETENTION CREDIT. OTHERWISE, THE ORGANIZATION IS NO LONGER CONSIDERED TO BE A GOING CONCERN IN THE SENSE OF PURSING ITS PREVIOUS LINE OF BUSINESS OPERATIONS AND WILL WIND DOWN ALL BUSINESS

THE ORGANIZATION PROVIDED LONG-TERM NURSING CARE THROUGH THE OPERATION A 120-BED SKILLED NURSING FACILITY WHICH IT LEASED FROM CATHEDRAL FOUNDATION OF JACKSONVILLE, INC. ON DECEMBER 30, 2022, THE ORGANIZATION, IN ASSOCIATION WITH THE CATHEDRAL FOUNDATION OF JACKSONVILLE, INC. FINALIZED ACCORDING TO THE TERMS OF BOTH AN ASSET PURCHASE AGREEMENT AND AN OPERATIONAL TRANSITION AGREEMENT FOR THE SALE OF THE NURSING HOME AND THE REAL ESTATE AT 333 ASHLEY, THE SITE OF THE CGC NURSING HOME OPERATION. AS THE RESULT OF THIS SALE, THE ORGANIZATION IS NO LONGER IN THE NURSING HOME OPERATIONS BUSINESS. THE BOARD HAS DECIDED THAT THE ORGANIZATION WILL ONLY MAINTAIN LIMITED FINANCIAL ACTIVITY UNTIL SUCH TIME AS A DETERMINATION IS MADE ON THE STATUS OF ITS APPLICATION WITH THE IRS FOR THE EMPLOYEE RETENTION CREDIT. OTHERWISE, THE ORGANIZATION IS NO LONGER CONSIDERED TO BE A GOING CONCERN IN THE SENSE OF PURSING ITS PREVIOUS LINE OF BUSINESS OPERATIONS AND WILL WIND DOWN ALL BUSINESS ACTIVITY FOR PURPOSES OF DISSOLUTION AS SOON AS IT IS PRACTICAL TO DO SO,

Expenses $116,504 · Revenue $2,338

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

John SeftonJOHN SEFTON

CHAIRMAN/PRE

Total calculated

$0

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.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type: form_990
Tax year: 2023
Filed: 8 August 2025
IRS schema version: 2023v6.0
Source object: 202502269349300330

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