Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: RENTAL INCOME

  total $13,829,194 · related or exempt $13,829,194

• 3 · Investment income

  total $43,828 · excluded $43,828

• 11a · Other revenue: BEAUTY SALON

  total $7,200 · excluded $7,200

• 11b · Other revenue: GUEST MEALS

  total $965 · excluded $965

• 11e · Other revenue, total

  $8,165

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $968,857 · program services $813,954 · management and general $154,903

• 7 · Other salaries and wages

  total $6,109,476 · program services $5,132,682 · management and general $976,794

• 8 · Pension plan contributions

  total $159,372 · program services $133,891 · management and general $25,481

• 9 · Other employee benefits

  total $875,282 · program services $735,340 · management and general $139,942

• 10 · Payroll taxes

  total $734,703 · program services $617,237 · management and general $117,466

• 11a · Fees: management

  total $639,600 · management and general $639,600

• 11b · Fees: legal

  total $10,750 · management and general $10,750

• 11c · Fees: accounting

  total $19,460 · management and general $19,460

• 11g · Fees: other

  total $1,054,035 · program services $557,717 · management and general $496,318

• 12 · Advertising and promotion

  total $4,277 · management and general $4,277

• 13 · Office expenses

  total $302,213 · program services $155,816 · management and general $146,397

• 14 · Information technology

  total $59,468 · program services $34,528 · management and general $24,940

• 16 · Occupancy

  total $1,549,154 · program services $1,549,154

• 17 · Travel

  total $15,054 · management and general $15,054

• 19 · Conferences, conventions and meetings

  total $108,828 · program services $108,828

• 20 · Interest

  total $11,022 · management and general $11,022

• 22 · Depreciation, depletion and amortization

  total $1,022,270 · program services $1,022,270

• 23 · Insurance

  total $197,588 · program services $197,588

• 24a · Other expenses: FOOD

  total $883,669 · program services $879,949 · management and general $3,720

• 24b · Other expenses: REPAIRS AND MAINTENANCE

  total $180,890 · program services $180,890

• 24c · Other expenses: BAD DEBT EXPENSE

  total $90,000 · management and general $90,000

• 24d · Other expenses: MISC OPERATING EXPENSES

  total $4,571 · program services $2,591 · management and general $1,980

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $267,424 · end of year $345,873

• 2 · Savings and temporary cash investments

  beginning of year $2,598,776 · end of year $1,819,712

• 4 · Accounts receivable

  beginning of year $95,835 · end of year $179,267

• 9 · Prepaid expenses and deferred charges

  beginning of year $198,093 · end of year $193,687

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

  $37,238,560

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

  $18,383,016

• 10c · Land, buildings and equipment, net

  beginning of year $19,706,855 · end of year $18,855,544

• 15 · Other assets

  beginning of year $99,697 · end of year $92,089

• 17 · Accounts payable and accrued expenses

  beginning of year $1,120,550 · end of year $1,809,042

• 19 · Deferred revenue

  beginning of year $60,227 · end of year $54,438

• 21 · Escrow or custodial account liability

  beginning of year $14,179 · end of year $12,624

• 23 · Secured mortgages and notes payable

  beginning of year $13,520,684 · end of year $12,440,957

• 25 · Other liabilities

  beginning of year $3,048,812 · end of year $3,096,170

• 27 · Net assets without donor restrictions

  beginning of year $5,202,228 · end of year $4,072,941

The filer's explanations (Part III)

PART I, LINE 3

THE COMPENSATION OF THE PRESIDENT AND CEO IS PAID BY A RELATED ORGANIZATION, UNITED HEBREW GERIATRIC CENTER. THE SENIOR CHAIR AND THE SECRETARY OF THE BOARD SHALL CONSTITUTE AN AD-HOC COMPENSATION COMMITTEE. THE SENIOR CHAIR IS EMPOWERED AND AUTHORIZED TO NEGOTIATE AN EMPLOYMENT AGREEMENT WITH THE PRESIDENT & CEO AND ANY MODIFICATIONS OR EXTENSIONS THERETO IN ACCORDANCE WITH TERMS AND CONDITIONS ESTABLISHED BY THE AD-HOC COMPENSATION COMMITTEE. ANY MEMBER OF THE BOARD MAY REVIEW THE TERMS OF ALL SUCH EMPLOYMENT AGREEMENTS WITH THE SENIOR CHAIR. THE REVIEW AND APPROVAL BY THE COMPENSATION COMMITTEE IS DOCUMENTED IN THE MEETING MINUTES. THE LAST COMPENSATION REVIEW WAS PERFORMED IN 2023.

PART I, LINE 7

THE ORGANIZATION PAID PERFORMANCE BONUSES TO CERTAIN INDIVIDUALS LISTED IN PART II AS REPORTED IN COLUMN B(II) FOR THE APPLICABLE INDIVIDUALS.