Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $791,620

• 1f · All other contributions, gifts and grants

  $75,376

• 2a · Program service revenue: Assisted Living

  total $45,627,152 · related or exempt $45,627,152

• 2b · Program service revenue: Community Fees

  total $970,550 · related or exempt $970,550

• 2c · Program service revenue: Subsidiary management

  total $953,222 · related or exempt $953,222

• 2f · All other program service revenue

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 3 · Investment income

  total $154,882 · excluded $154,882

• 6a · Gross rents

  real property $57,712 · personal property $1,200

• 6b · Less rental expenses

  real property $0 · personal property $0

• 6c · Rental income or loss

  real property $57,712 · personal property $1,200

• 6d · Net rental income or loss

  total $58,912 · unrelated business $1,200 · excluded $57,712

• 7a · Gross sales of assets other than inventory

  securities $1,725,322

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

  securities $1,572,723 · other assets $1,131

• 7c · Gain or loss

  securities $152,599 · other assets -$1,131

• 7d · Net gain or loss

  total $151,468 · excluded $151,468

• 11a · Other revenue: Misc. Income

  total $265,596 · related or exempt $265,596

• 11d · All other revenue

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 11e · Other revenue, total

  $265,596

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $31,794 · program services $31,794

• 4 · Benefits paid to or for members

  total $0 · program services $0

• 5 · Compensation of officers, directors and key employees

  total $558,665 · management and general $558,665

• 7 · Other salaries and wages

  total $22,716,690 · program services $20,199,461 · management and general $2,517,229

• 8 · Pension plan contributions

  total $296,321 · program services $245,460 · management and general $50,861

• 9 · Other employee benefits

  total $1,386,436 · program services $1,275,568 · management and general $110,868

• 10 · Payroll taxes

  total $1,714,576 · program services $1,525,740 · management and general $188,836

• 11a · Fees: management

  total $574,041 · management and general $574,041

• 11b · Fees: legal

  total $55,488 · program services $18,018 · management and general $37,470

• 11c · Fees: accounting

  total $57,246 · management and general $57,246

• 11f · Fees: investment management

  total $11,220 · management and general $11,220

• 11g · Fees: other

  total $5,916,137 · program services $4,022,483 · management and general $1,893,654 · fundraising $0

• 12 · Advertising and promotion

  total $1,106,000 · program services $1,088,271 · management and general $17,729

• 13 · Office expenses

  total $4,217,371 · program services $4,151,814 · management and general $65,557

• 14 · Information technology

  total $875,527 · program services $203,192 · management and general $672,335

• 16 · Occupancy

  total $3,631,510 · program services $3,538,417 · management and general $93,093

• 17 · Travel

  total $632,043 · program services $109,931 · management and general $522,112

• 19 · Conferences, conventions and meetings

  total $178,501 · program services $78,646 · management and general $99,855

• 20 · Interest

  total $4,080,379 · program services $4,080,379

• 22 · Depreciation, depletion and amortization

  total $5,711,372 · program services $5,515,942 · management and general $195,430

• 23 · Insurance

  total $1,604,120 · program services $1,557,892 · management and general $46,228

• 24a · Other expenses: Dues, Licenses and Fees

  total $150,425 · program services $143,412 · management and general $7,013

• 24b · Other expenses: Bad Debt

  total $133,126 · program services $133,126

• 24c · Other expenses: Bond Admin Fees

  total $29,530 · management and general $29,530

• 24d · Other expenses: UBI Taxes

  total $11,250 · management and general $11,250

• 24e · All other expenses

  total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $1,925,281 · end of year $1,963,305

• 2 · Savings and temporary cash investments

  beginning of year $13,046 · end of year $5,711

• 4 · Accounts receivable

  beginning of year $2,588,542 · end of year $2,038,000

• 5 · Loans and receivables from officers and key people

  beginning of year $0 · end of year $0

• 6 · Loans and receivables from disqualified persons

  end of year $0

• 7 · Other notes and loans receivable

  beginning of year $3,000,000 · end of year $3,000,000

• 8 · Inventories for sale or use

  beginning of year $69,603 · end of year $79,787

• 9 · Prepaid expenses and deferred charges

  beginning of year $468,888 · end of year $955,663

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

  $147,753,192

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

  $61,678,638

• 10c · Land, buildings and equipment, net

  beginning of year $81,669,844 · end of year $86,074,554

• 11 · Investments: publicly traded securities

  beginning of year $382,745 · end of year $0

• 12 · Investments: other securities

  beginning of year $6,169,104 · end of year $5,578,093

• 13 · Investments: program-related

  beginning of year $0

• 14 · Intangible assets

  beginning of year $4,494,000 · end of year $4,494,000

• 15 · Other assets

  beginning of year $2,762,249 · end of year $5,364,667

• 17 · Accounts payable and accrued expenses

  beginning of year $4,322,510 · end of year $3,306,414

• 19 · Deferred revenue

  beginning of year $567,509 · end of year $266,808

• 20 · Tax-exempt bond liabilities

  beginning of year $24,102,745 · end of year $23,883,595

• 22 · Loans and payables to officers and key people

  end of year $0

• 23 · Secured mortgages and notes payable

  beginning of year $11,098,676 · end of year $16,401,895

• 25 · Other liabilities

  beginning of year $58,603,912 · end of year $67,002,461

• 27 · Net assets without donor restrictions

  beginning of year $4,847,950 · end of year -$1,307,393

The filer's explanations (Part III)

Schedule J, Part I, Line 1a Travel for companions

Travel for companions was provided to Andrew McCormick, Regional Director of Operations and Joshua Thomas, VP of Strategy & Development . This benefit was included in taxable compensation.

Schedule J, Part I, Line 1a Health or social club dues or initiation fees

In order to assist in promoting a healthy lifestyle for its employees, the organization reimburses employees up to $40 per month to cover 50% of the cost of a gym membership. These expenses are submitted to management for approval. These reimbursements are taxable to the employee and included in their compensation. William Schwingen, Joshua Thomas and Kris Gillen participated in the program during the year.

Schedule J, Part I, Line 7 Non-fixed payments

The organization and related entities pay discretionary bonuses to their officers, directors, and key employees from time to time. The frequency and amount of the bonuses are determined by the Administrative Committee, CEO, or other management, and based on factors such as overall job performance, substantial extra projects, etc. The organizations do not have any employment contracts which obligate the payment of bonuses in the future.

Disregarded entities

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

• BSLC Thornton LLC

  Senior Living · CO · income $6,012,605 · assets $22,199,155

  Directly controlled by Bethesda Foundation

• BSLC Loveland LLC

  Senior Living · CO · income $5,327,343 · assets $17,594,930

  Directly controlled by Bethesda Foundation

• BSLC Monument LLC

  Senior Living · CO · income $3,234,536 · assets $10,454,618

  Directly controlled by Bethesda Foundation

• BSLC Frisco LLC

  Assisted Living Facility · CO · income $4,427,688 · assets $15,840,152

  Directly controlled by Bethesda Foundation

• BSLC Springfield Condos LLC

  Independent Living · CO · income $491,165 · assets $1,780,630

  Directly controlled by Bethesda Foundation

• Bethesda Gardens Broadmoor LLC

  Assisted Living Facility · CO · income $2,759,079 · assets $2,392,073

  Directly controlled by Bethesda Foundation

• Bethesda Gardens Grand Junction LLC

  Assisted Living Facility · CO · income $2,756,389 · assets $2,250,006

  Directly controlled by Bethesda Foundation

• BSLC Phoenix Holdings LLC

  Property owner · CO · income $487,713 · assets $5,267,499

  Directly controlled by Bethesda Foundation

Related corporations and trusts

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

• Bethesda Real Estate Company

  C Corporation · Real Estate Mgmt · CO · 100% owned · share of income $83,269 · share of assets $608,682 · controlled entity

  Directly controlled by Bethesda Associates