Skip to content
Nonprofiteer
← GENESIS LIFECARE CORP

Form 990 for tax year 2022

Filed by GENESIS LIFECARE CORP.

Totals

Total revenue
$1,593,430
Total expenses
$1,614,979
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$1,591,819
Investment income
$715
Other revenue
$896
Total assets, end of year
$4,606,121
Total liabilities, end of year
$8,479,237
Net assets or fund balances, end of year
-$3,873,116
Program services expenses (Part IX)
$1,323,563
Management and general expenses
$291,416
Fundraising expenses
$0
Program service expenses (Part III)
$1,323,563

Program services were 82.0% 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: RENTAL INCOME

    total $1,591,819 · related or exempt $1,591,819

  • 3 · Investment income

    total $715 · excluded $715

  • 11a · Other revenue: MISCELLANEOUS

    total $896 · related or exempt $896

  • 11e · Other revenue, total

    $896

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $436,624 · program services $195,146 · management and general $241,478

  • 11c · Fees: accounting

    total $13,080 · management and general $13,080

  • 12 · Advertising and promotion

    total $1,212 · management and general $1,212

  • 13 · Office expenses

    total $36,072 · program services $738 · management and general $35,334

  • 16 · Occupancy

    total $531,201 · program services $531,201

  • 19 · Conferences, conventions and meetings

    total $312 · management and general $312

  • 20 · Interest

    total $216,282 · program services $216,282

  • 22 · Depreciation, depletion and amortization

    total $262,451 · program services $262,451

  • 23 · Insurance

    total $39,788 · program services $39,788

  • 24a · Other expenses: SERVICE COORDINATOR

    total $77,957 · program services $77,957

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $67,983 · end of year $139,082

  • 3 · Pledges and grants receivable

    end of year $0

  • 4 · Accounts receivable

    beginning of year $417 · end of year $10,274

  • 9 · Prepaid expenses and deferred charges

    beginning of year $7,115 · end of year $7,139

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

    $8,997,719

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

    $5,678,708

  • 10c · Land, buildings and equipment, net

    beginning of year $3,498,165 · end of year $3,319,011

  • 15 · Other assets

    beginning of year $1,045,606 · end of year $1,130,615

  • 17 · Accounts payable and accrued expenses

    beginning of year $169,475 · end of year $166,910

  • 23 · Secured mortgages and notes payable

    beginning of year $8,254,995 · end of year $8,264,471

  • 24 · Unsecured notes and loans payable

    beginning of year $10,000 · end of year $10,000

  • 25 · Other liabilities

    beginning of year $36,383 · end of year $37,856

  • 27 · Net assets without donor restrictions

    beginning of year -$3,851,567 · end of year -$3,873,116

Mission and programs · 2022

Mission

GENESIS LIFECARE CORP. IS SUBSIDIZED HOUSING (HUD) THAT IS DESIGNED TO MEET THE NEEDS OF INDEPENDENT SENIORS WHO SEEK THE COMFORT, SECURITY, AND CONVENIENCES PROVIDED BY AN APARTMENT COMMUNITY.

  • TO OPERATE HOUSING FOR LOW INCOME ELDERLY TENANTS ON A NONPROFIT BASIS.

    Expenses $1,323,563 · Revenue $1,592,715

As filed on the 2022 return.

Listed in Part VII

  • Adam Berman

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Barry Berman

    CEO

    Total calculated
    $0
    Hours/week
    1

  • Stephen Krevalin

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Brad Foster

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Richard Chase

    CLERK

    Total calculated
    $0
    Hours/week
    1

  • Gary Rappaport

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Michael Hirshberg

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Robert Baevsky

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

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.

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.

Provenance

Return type
form_990
Tax year
2022
Filed
8 June 2023
IRS schema version
2022v5.0
Source object
202301599349300810

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.