Skip to content
Nonprofiteer
← PRESBYTERIAN RETIREMENT COMMUNITIES INC

Form 990 for tax year 2022

Filed by PRESBYTERIAN RETIREMENT COMMUNITIES INC.

Totals

Total revenue
$153,189,486
Total expenses
$168,186,348
Contributions and grants received
$5,101,281
Grants paid
$0
Program service revenue
$147,784,349
Investment income
$303,856
Other revenue
$0
Total assets, end of year
$555,198,268
Total liabilities, end of year
$442,716,241
Net assets or fund balances, end of year
$112,482,027
Program services expenses (Part IX)
$138,995,048
Management and general expenses
$28,564,461
Fundraising expenses
$626,839
Program service expenses (Part III)
$138,995,048

Program services were 82.6% 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.

  • 1e · Government grants (contributions)

    $1,743,562

  • 1f · All other contributions, gifts and grants

    $3,357,719

  • 1g · Noncash contributions included above

    $4,810

  • 2a · Program service revenue: MONTHLY FEES

    total $90,724,189 · related or exempt $90,724,189

  • 2b · Program service revenue: MEDICARE/MEDICAID PAYMENT

    total $32,630,352 · related or exempt $32,630,352

  • 2c · Program service revenue: EARNED ENTRANCE FEES

    total $22,628,366 · related or exempt $22,628,366

  • 2d · Program service revenue: OTHER

    total $1,209,828 · related or exempt $1,209,828

  • 2e · Program service revenue: RENTS

    total $591,614 · related or exempt $591,614

  • 3 · Investment income

    total $535,582 · excluded $535,582

  • 7a · Gross sales of assets other than inventory

    securities $13,820,273

  • 7b · Less cost or other basis and sales expenses

    securities $13,318,532 · other assets $733,467

  • 7c · Gain or loss

    securities $501,741 · other assets -$733,467

  • 7d · Net gain or loss

    total -$231,726 · related or exempt -$733,467 · excluded $501,741

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $62,431,602 · program services $55,277,111 · management and general $7,154,491

  • 8 · Pension plan contributions

    total $1,075,955 · program services $931,101 · management and general $144,854

  • 9 · Other employee benefits

    total $5,420,631 · program services $4,930,029 · management and general $490,602

  • 10 · Payroll taxes

    total $4,326,501 · program services $3,815,232 · management and general $511,269

  • 11a · Fees: management

    total $7,835,484 · program services $1,880,516 · management and general $5,328,129 · fundraising $626,839

  • 11b · Fees: legal

    total $250,838 · management and general $250,838

  • 11c · Fees: accounting

    total $741,590 · management and general $741,590

  • 12 · Advertising and promotion

    total $1,905,159 · management and general $1,905,159

  • 13 · Office expenses

    total $623,494 · management and general $623,494

  • 16 · Occupancy

    total $6,222,666 · program services $6,222,666

  • 17 · Travel

    total $45,185 · management and general $45,185

  • 19 · Conferences, conventions and meetings

    total $100,072 · program services $22,184 · management and general $77,888

  • 20 · Interest

    total $10,473,092 · program services $10,473,092

  • 22 · Depreciation, depletion and amortization

    total $21,928,809 · program services $21,928,809

  • 23 · Insurance

    total $4,437,152 · management and general $4,437,152

  • 24a · Other expenses: MEDICAL SUPPLIES

    total $7,751,991 · program services $7,751,991

  • 24b · Other expenses: FOOD

    total $6,247,924 · program services $6,247,924

  • 24c · Other expenses: OUTSIDE SERVICE CONTRACTS

    total $6,029,945 · program services $5,940,906 · management and general $89,039

  • 24d · Other expenses: EQUIPMENT RENTAL & MAINT

    total $4,848,555 · program services $4,585,155 · management and general $263,400

  • 24e · All other expenses

    total $15,489,703 · program services $8,988,332 · management and general $6,501,371

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,900 · end of year $3,900

  • 2 · Savings and temporary cash investments

    beginning of year $7,809,201 · end of year $11,981,845

  • 4 · Accounts receivable

    beginning of year $7,724,849 · end of year $8,745,232

  • 7 · Other notes and loans receivable

    beginning of year $12,127,047 · end of year $16,440,589

  • 8 · Inventories for sale or use

    beginning of year $336,549 · end of year $390,040

  • 9 · Prepaid expenses and deferred charges

    beginning of year $658,139 · end of year $692,945

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

    $645,533,831

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

    $319,751,875

  • 10c · Land, buildings and equipment, net

    beginning of year $302,665,341 · end of year $325,781,956

  • 12 · Investments: other securities

    beginning of year $17,294,622 · end of year $5,637,179

  • 15 · Other assets

    beginning of year $205,402,762 · end of year $185,524,582

  • 17 · Accounts payable and accrued expenses

    beginning of year $13,343,509 · end of year $15,111,571

  • 19 · Deferred revenue

    beginning of year $1,743,562

  • 20 · Tax-exempt bond liabilities

    beginning of year $210,876,610 · end of year $207,448,105

  • 25 · Other liabilities

    beginning of year $200,149,627 · end of year $220,156,565

  • 27 · Net assets without donor restrictions

    beginning of year $71,891,794 · end of year $60,298,828

  • 28 · Net assets with donor restrictions

    beginning of year $56,017,308 · end of year $52,183,199

Listed in Part VII

  • JOHN HILLENMEYER

    CHAIRMAN

    Total calculated
    $0

  • TERENCE ROGERS

    CEO/PRESIDEN

    Total calculated
    $700,873
    From this org
    $0
    From related orgs
    $664,385
    Other
    $36,488

    Schedule J breakdown matched by us

    Base
    not reported + $568,283 related
    Bonus
    not reported + $76,309 related
    Other
    not reported + $19,793 related
    Deferred
    not reported + $24,156 related
    Nontaxable benefits
    not reported + $12,332 related
    Filer's total
    not reported + $700,873 related

  • HENRY T KEITH

    CFO/TREASUR/

    Total calculated
    $555,037
    From this org
    $0
    From related orgs
    $530,394
    Other
    $24,643

    Schedule J breakdown matched by us

    Base
    not reported + $454,118 related
    Bonus
    not reported + $50,447 related
    Other
    not reported + $25,829 related
    Deferred
    not reported + $13,663 related
    Nontaxable benefits
    not reported + $10,980 related
    Filer's total
    not reported + $555,037 related

  • GARRY HENNIS

    COO/EXECUTIV

    Total calculated
    $485,460
    From this org
    $0
    From related orgs
    $464,464
    Other
    $20,996

    Schedule J breakdown matched by us

    Base
    not reported + $399,639 related
    Bonus
    not reported + $42,266 related
    Other
    not reported + $22,559 related
    Deferred
    not reported + $10,016 related
    Nontaxable benefits
    not reported + $10,980 related
    Filer's total
    not reported + $485,460 related

  • MEGAN FAUBEL

    SECRETARY

    Total calculated
    $0

  • STEPHEN DYE

    DIRECTOR

    Total calculated
    $0

  • GREG BUSTLE

    DIRECTOR

    Total calculated
    $0

  • WILLIAM BELL

    DIRECTOR

    Total calculated
    $0

  • DONALD DODDRIDGE

    DIRECTOR

    Total calculated
    $0

  • JEFFREY S MOCK

    DIRECTOR

    Total calculated
    $0

  • LINDA SHELLEY

    DIRECTOR

    Total calculated
    $0

  • CARLEN MADDUX

    DIRECTOR

    Total calculated
    $0

  • JOHN MARK RAMSEY

    DIRECTOR

    Total calculated
    $0

  • JOHN DEBEVOISE

    DIRECTOR

    Total calculated
    $0

  • MARK WEAVER

    DIRECTOR OF

    Total calculated
    $177,820
    From this org
    $161,752
    From related orgs
    $0
    Other
    $16,068
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $95,834
    Bonus
    $18,200
    Other
    $47,718
    Deferred
    $6,051
    Nontaxable benefits
    $10,017
    Filer's total
    $177,820

  • NANCY MAGNUSON

    DIRECTOR OF

    Total calculated
    $141,358
    From this org
    $132,117
    From related orgs
    $0
    Other
    $9,241
    Hours/week
    40

  • CHERYL WHIGHAM

    DIRECTOR OF

    Total calculated
    $197,046
    From this org
    $186,950
    From related orgs
    $0
    Other
    $10,096
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $103,292
    Bonus
    $39,200
    Other
    $44,458
    Deferred
    $3,493
    Nontaxable benefits
    $6,603
    Filer's total
    $197,046

  • TRISHA GLACCUM

    SALES COUNSE

    Total calculated
    $173,878
    From this org
    $161,600
    From related orgs
    $0
    Other
    $12,278
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $54,915
    Bonus
    $43,400
    Other
    $63,285
    Deferred
    $5,962
    Nontaxable benefits
    $6,316
    Filer's total
    $173,878

  • PAMELA ROBY

    DIRECTOR OF

    Total calculated
    $154,920
    From this org
    $143,309
    From related orgs
    $0
    Other
    $11,611
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $87,687
    Bonus
    $17,500
    Other
    $38,122
    Deferred
    $3,076
    Nontaxable benefits
    $8,535
    Filer's total
    $154,920

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)

SCHEDULE J, PAGE 1, PART I, LINE 3
THE ORGANIZATION RELIED ON A RELATED ORGANIZATION (WESTMINSTER SERVICES, INC. 59-3614812) FOR THE COMPENSATION COMMITTEE, COMPENSATION SURVEY OR STUDY, AND APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE.

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • WESTMINSTER BRADENTON MANOR

    HOME AGED · FL · income $13,373,836 · assets $19,516,741

    Directly controlled by PRESBYTERI AN RETIREMENT COMMUNITIES INC

  • WESTMINSTER POINT PLEASANT

    HOME AGED · FL · income $29,330,539 · assets $45,279,731

    Directly controlled by PRESBYTERI AN RETIREMENT COMMUNITIES INC

  • WESTMINSTER WINTER PARK

    HOME AGED · FL · income $45,854,867 · assets $186,599,512

    Directly controlled by PRESBYTERI AN RETIREMENT COMMUNITIES INC

  • WESTMINSTER TOWERS ORLANDO

    HOME AGED · FL · income $22,556,553 · assets $58,644,271

    Directly controlled by PRESBYTERI AN RETIREMENT COMMUNITIES INC

  • WESTMINSTER OAKS

    HOME AGED · FL · income $40,263,264 · assets $143,061,974

    Directly controlled by PRESBYTERI AN RETIREMENT COMMUNITIES INC

Provenance

Return type
form_990
Tax year
2022
Filed
6 February 2024
IRS schema version
2022v5.0
Source object
202430449349300203

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.