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Nonprofiteer
← BSLC II

Form 990 for tax year 2024

Filed by BSLC II.

Totals

Total revenue
$38,232,698
Total expenses
$35,422,564
Contributions and grants received
$2,639
Grants paid
$4,170
Program service revenue
$37,309,946
Investment income
$727,530
Other revenue
$192,583
Total assets, end of year
$104,183,727
Total liabilities, end of year
$88,122,381
Net assets or fund balances, end of year
$16,061,346
Program services expenses (Part IX)
$32,961,447
Management and general expenses
$2,461,117
Fundraising expenses
$0
Program service expenses (Part III)
$32,961,447

Program services were 93.1% 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.

  • 1f · All other contributions, gifts and grants

    $2,639

  • 2a · Program service revenue: ASSISTED LIVING

    total $36,608,906 · related or exempt $36,608,906

  • 2b · Program service revenue: COMMUNITY FEES

    total $701,040 · related or exempt $701,040

  • 3 · Investment income

    total $526,846 · excluded $526,846

  • 6a · Gross rents

    real property $26,033

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $26,033

  • 6d · Net rental income or loss

    total $26,033 · excluded $26,033

  • 7a · Gross sales of assets other than inventory

    securities $2,299,788

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

    securities $2,047,366 · other assets $51,738

  • 7c · Gain or loss

    securities $252,422 · other assets -$51,738

  • 7d · Net gain or loss

    total $200,684 · excluded $200,684

  • 11d · All other revenue

    total $166,550 · related or exempt $166,550

  • 11e · Other revenue, total

    $166,550

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $4,170 · program services $4,170

  • 7 · Other salaries and wages

    total $15,233,717 · program services $15,176,947 · management and general $56,770

  • 8 · Pension plan contributions

    total $211,166 · program services $211,166

  • 9 · Other employee benefits

    total $1,414,363 · program services $1,414,363

  • 10 · Payroll taxes

    total $1,164,888 · program services $1,164,888

  • 11a · Fees: management

    total $2,248,218 · management and general $2,248,218

  • 11b · Fees: legal

    total $17,810 · program services $16,902 · management and general $908

  • 11c · Fees: accounting

    total $37,384 · program services $11,915 · management and general $25,469

  • 11f · Fees: investment management

    total $18,267 · management and general $18,267

  • 11g · Fees: other

    total $949,673 · program services $948,214 · management and general $1,459

  • 12 · Advertising and promotion

    total $757,643 · program services $757,643

  • 13 · Office expenses

    total $2,622,802 · program services $2,621,696 · management and general $1,106

  • 14 · Information technology

    total $118,891 · program services $118,891

  • 16 · Occupancy

    total $3,601,105 · program services $3,556,519 · management and general $44,586

  • 17 · Travel

    total $65,113 · program services $65,113

  • 19 · Conferences, conventions and meetings

    total $47,862 · program services $47,862

  • 20 · Interest

    total $1,848,500 · program services $1,848,500

  • 22 · Depreciation, depletion and amortization

    total $3,549,726 · program services $3,533,146 · management and general $16,580

  • 23 · Insurance

    total $1,273,893 · program services $1,265,213 · management and general $8,680

  • 24a · Other expenses: DUES/LICENSES/FEES

    total $103,624 · program services $103,262 · management and general $362

  • 24b · Other expenses: BAD DEBT

    total $95,037 · program services $95,037

  • 24c · Other expenses: BOND ADMIN FEES

    total $38,712 · management and general $38,712

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,713,144 · end of year $4,511,505

  • 2 · Savings and temporary cash investments

    beginning of year $49,206 · end of year $101,375

  • 4 · Accounts receivable

    beginning of year $428,612 · end of year $527,977

  • 8 · Inventories for sale or use

    beginning of year $41,442 · end of year $35,833

  • 9 · Prepaid expenses and deferred charges

    beginning of year $404,131 · end of year $354,064

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

    $91,617,259

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

    $58,547,577

  • 10c · Land, buildings and equipment, net

    beginning of year $32,772,019 · end of year $33,069,682

  • 11 · Investments: publicly traded securities

    beginning of year $3,366,473 · end of year $3,423,662

  • 12 · Investments: other securities

    beginning of year $1,134,473 · end of year $1,757,101

  • 15 · Other assets

    beginning of year $61,989,031 · end of year $60,402,528

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,581,142 · end of year $2,285,466

  • 19 · Deferred revenue

    beginning of year $168,855 · end of year $222,933

  • 20 · Tax-exempt bond liabilities

    beginning of year $88,904,477 · end of year $85,613,982

  • 27 · Net assets without donor restrictions

    beginning of year $13,244,057 · end of year $16,061,346

Mission and programs · 2024

Mission

TO SERVE SENIORS BY ENRICHING THEIR PHYSICAL, EMOTIONAL, AND SPIRITUAL HEALTH IN A NURTURING ENVIRONMENT AT OUR COMMUNITIES. OUR VISION: TO EXPAND OUTREACH AND SERVICE TO AS MANY COMMUNITIES AS GOD WILLS THROUGH EXPANSION, ACQUISITION, MANAGEMENT CONTRACTS, AND PROGRAMMING.

Activities or mission (Part I)

TO SERVE SENIORS BY ENRICHING THEIR PHYSICAL, EMOTIONAL AND SPIRITUAL HEALTH IN OUR COMMUNITIES.

  • DEVELOPMENT AND OPERATION OF TAX EXEMPT ASSISTED LIVING COMMUNITIES, INDEPENDENT LIVING COMMUNITIES, AND MEMORY CARE FACILITIES FOR SENIORS IN COLORADO, TEXAS, AND MISSOURI. CARED FOR AN AVERAGE OF 704 RESIDENTS DURING THE FISCAL YEAR ENDED 9/30/2025.

    Expenses $32,961,447 · Grants $4,170 · Revenue $37,476,496

As filed on the 2024 return.

Listed in Part VII

  • Dana Rasic

    PRESIDENT, CHAIR & DIRECTOR

    Total calculated
    $455,797
    From this org
    $0
    From related orgs
    $407,174
    Other
    $48,623
    Hours/week
    10 + 52 related

    Schedule J breakdown matched by us

    Base
    $0 + $399,695 related
    Bonus
    $0
    Other
    $0 + $7,479 related
    Deferred
    $0 + $10,360 related
    Nontaxable benefits
    $0 + $38,263 related
    Filer's total
    $0 + $455,797 related

  • Nathan Merrill

    CFO, TREASURER & DIRECTOR

    Total calculated
    $359,849
    From this org
    $0
    From related orgs
    $311,825
    Other
    $48,024
    Hours/week
    10 + 47 related

    Schedule J breakdown matched by us

    Base
    $0 + $269,010 related
    Bonus
    $0 + $30,000 related
    Other
    $0 + $12,815 related
    Deferred
    $0 + $9,457 related
    Nontaxable benefits
    $0 + $38,567 related
    Filer's total
    $0 + $359,849 related

  • Christi Miller

    VP OF HUMAN RESOURCES & DIRECTOR

    Total calculated
    $247,913
    From this org
    $0
    From related orgs
    $227,426
    Other
    $20,487
    Hours/week
    10 + 45 related

    Schedule J breakdown matched by us

    Base
    $0 + $205,107 related
    Bonus
    $0 + $10,500 related
    Other
    $0 + $11,819 related
    Deferred
    $0 + $6,414 related
    Nontaxable benefits
    $0 + $14,073 related
    Filer's total
    $0 + $247,913 related

  • Daniel Vagle

    VICE CHAIR & DIRECTOR

    Total calculated
    $69,213
    From this org
    $0
    From related orgs
    $65,604
    Other
    $3,609
    Hours/week
    2 + 5 related

  • Dale Turner

    DIRECTOR

    Total calculated
    $69,087
    From this org
    $0
    From related orgs
    $65,604
    Other
    $3,483
    Hours/week
    2 + 7 related

  • Don Morgan

    DIRECTOR (PART YEAR)

    Total calculated
    $73,552
    From this org
    $0
    From related orgs
    $70,167
    Other
    $3,385
    Hours/week
    2 + 6 related

  • Jenny Kennedy

    SECRETARY & DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5 + 5 related

  • Larry Smith

    DIRECTOR

    Total calculated
    $37,756
    From this org
    $0
    From related orgs
    $32,775
    Other
    $4,981
    Hours/week
    3 + 7 related

  • Rick Summers

    VICE PRESIDENT & DIRECTOR

    Total calculated
    $318,869
    From this org
    $0
    From related orgs
    $297,507
    Other
    $21,362
    Hours/week
    20 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $290,967 related
    Bonus
    $0
    Other
    $0 + $6,540 related
    Deferred
    $0 + $8,452 related
    Nontaxable benefits
    $0 + $12,910 related
    Filer's total
    $0 + $318,869 related

  • Kristen Jacoby

    REGIONAL VP OF OPS, DIRECTOR

    Total calculated
    $174,484
    From this org
    $0
    From related orgs
    $169,236
    Other
    $5,248
    Hours/week
    25 + 25 related

    Schedule J breakdown matched by us

    Base
    $0 + $168,117 related
    Bonus
    $0
    Other
    $0 + $1,119 related
    Deferred
    $0 + $4,801 related
    Nontaxable benefits
    $0 + $447 related
    Filer's total
    $0 + $174,484 related

  • Austin Harbach

    VP OF LEGAL & RISK, ASST. SECRETARY

    Total calculated
    $174,677
    From this org
    $0
    From related orgs
    $157,189
    Other
    $17,488
    Hours/week
    12 + 44 related

    Schedule J breakdown matched by us

    Base
    $0 + $149,400 related
    Bonus
    $0 + $7,650 related
    Other
    $0 + $139 related
    Deferred
    $0 + $4,828 related
    Nontaxable benefits
    $0 + $12,660 related
    Filer's total
    $0 + $174,677 related

  • Tom Workman

    ASSISTANT SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 3.5 related

  • Kimberly Erickson

    CHIEF OPERATING OFFICER

    Total calculated
    $103,040
    From this org
    $0
    From related orgs
    $101,573
    Other
    $1,467
    Hours/week
    15 + 40 related

  • Joshua Thomas

    VP OF STRATEGY & DEV. (PART YEAR)

    Total calculated
    $240,388
    From this org
    $0
    From related orgs
    $213,872
    Other
    $26,516
    Hours/week
    15 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $194,609 related
    Bonus
    $0 + $18,500 related
    Other
    $0 + $763 related
    Deferred
    $0 + $6,706 related
    Nontaxable benefits
    $0 + $19,810 related
    Filer's total
    $0 + $240,388 related

  • Kris Gillen

    VP OF SALES & MARKETING (PART YEAR)

    Total calculated
    $203,949
    From this org
    $0
    From related orgs
    $198,223
    Other
    $5,726
    Hours/week
    15 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $181,249 related
    Bonus
    $0 + $16,500 related
    Other
    $0 + $474 related
    Deferred
    $0 + $4,605 related
    Nontaxable benefits
    $0 + $1,121 related
    Filer's total
    $0 + $203,949 related

  • Brittney Moore

    VP OF HEALTH SERVICES

    Total calculated
    $203,102
    From this org
    $0
    From related orgs
    $184,056
    Other
    $19,046
    Hours/week
    24 + 31 related

    Schedule J breakdown matched by us

    Base
    $0 + $167,985 related
    Bonus
    $0 + $15,800 related
    Other
    $0 + $271 related
    Deferred
    $0 + $5,605 related
    Nontaxable benefits
    $0 + $13,441 related
    Filer's total
    $0 + $203,102 related

  • Earl Saxon Jr

    REGIONAL DIRECTOR OF OPERATIONS

    Total calculated
    $195,320
    From this org
    $0
    From related orgs
    $176,195
    Other
    $19,125
    Hours/week
    25 + 25 related

    Schedule J breakdown matched by us

    Base
    $0 + $170,666 related
    Bonus
    $0 + $5,000 related
    Other
    $0 + $529 related
    Deferred
    $0 + $5,370 related
    Nontaxable benefits
    $0 + $13,755 related
    Filer's total
    $0 + $195,320 related

  • Andrew McCormick

    REGIONAL DIRECTOR OF OPERATIONS

    Total calculated
    $189,587
    From this org
    $0
    From related orgs
    $158,420
    Other
    $31,167
    Hours/week
    25 + 25 related

    Schedule J breakdown matched by us

    Base
    $0 + $157,664 related
    Bonus
    $0
    Other
    $0 + $756 related
    Deferred
    $0 + $5,090 related
    Nontaxable benefits
    $0 + $26,077 related
    Filer's total
    $0 + $189,587 related

  • Bryan Beamer

    VICE PRESIDENT OF CONSTRUCTION

    Total calculated
    $184,186
    From this org
    $0
    From related orgs
    $174,136
    Other
    $10,050
    Hours/week
    15 + 45 related

    Schedule J breakdown matched by us

    Base
    $0 + $173,400 related
    Bonus
    $0
    Other
    $0 + $736 related
    Deferred
    $0 + $5,327 related
    Nontaxable benefits
    $0 + $4,723 related
    Filer's total
    $0 + $184,186 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

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 corporations and trusts

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

  • BETHESDA REAL ESTATE COMPANY

    C · REAL ESTATE MGMT · CO

Provenance

Return type
form_990
Tax year
2024
Filed
17 August 2026
IRS schema version
2024v5.5
Source object
202602299349302095

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