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Nonprofiteer
← VIAMONTE SENIOR LIVING 1 INC

Form 990 for tax year 2023

Filed by VIAMONTE SENIOR LIVING 1 INC.

Totals

Total revenue
$20,804,021
Total expenses
$20,455,850
Contributions and grants received
$42,795
Grants paid
$0
Program service revenue
$17,958,149
Investment income
$2,800,442
Other revenue
$2,635
Total assets, end of year
$215,534,160
Total liabilities, end of year
$220,056,639
Net assets or fund balances, end of year
-$4,522,479
Program services expenses (Part IX)
$17,448,699
Management and general expenses
$3,007,151
Fundraising expenses
$0
Program service expenses (Part III)
$17,448,699

Program services were 85.3% 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.

  • 1d · Related organizations

    $2,510

  • 1e · Government grants (contributions)

    $40,285

  • 2a · Program service revenue: RESIDENT FEES

    total $11,644,204 · related or exempt $11,644,204

  • 2b · Program service revenue: AMORT OF ENTRANCE FEES

    total $5,280,595 · related or exempt $5,280,595

  • 2c · Program service revenue: SERVICE FEES

    total $1,033,350 · related or exempt $1,033,350

  • 3 · Investment income

    total $2,800,442 · excluded $2,800,442

  • 11a · Other revenue: OTHER INCOME

    total $2,635 · related or exempt $2,635

  • 11e · Other revenue, total

    $2,635

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $327,655 · management and general $327,655

  • 7 · Other salaries and wages

    total $3,624,912 · program services $2,913,627 · management and general $711,285

  • 9 · Other employee benefits

    total $744,272 · program services $551,406 · management and general $192,866

  • 10 · Payroll taxes

    total $292,084 · program services $219,792 · management and general $72,292

  • 11a · Fees: management

    total $3,543,521 · program services $3,249,775 · management and general $293,746

  • 11b · Fees: legal

    total $810 · management and general $810

  • 11c · Fees: accounting

    total $44,651 · management and general $44,651

  • 11g · Fees: other

    total $1,542,810 · program services $1,350,897 · management and general $191,913

  • 12 · Advertising and promotion

    total $326,849 · program services $299,652 · management and general $27,197

  • 13 · Office expenses

    total $437,962 · program services $361,437 · management and general $76,525

  • 14 · Information technology

    total $212,672 · program services $1,936 · management and general $210,736

  • 16 · Occupancy

    total $1,185,537 · program services $1,060,260 · management and general $125,277

  • 17 · Travel

    total $12,775 · program services $7,145 · management and general $5,630

  • 19 · Conferences, conventions and meetings

    total $33,022 · program services $16,640 · management and general $16,382

  • 20 · Interest

    total $3,321,509 · program services $3,321,509

  • 22 · Depreciation, depletion and amortization

    total $3,346,050 · program services $3,346,050

  • 23 · Insurance

    total $326,702 · management and general $326,702

  • 24a · Other expenses: REPAIR AND MAINTENANCE

    total $638,745 · program services $497,166 · management and general $141,579

  • 24b · Other expenses: OTHER TAXES AND LICENSE

    total $35,724 · program services $400 · management and general $35,324

  • 24c · Other expenses: FOOD

    total $5,693 · program services $5,221 · management and general $472

  • 24e · All other expenses

    total $451,895 · program services $245,786 · management and general $206,109

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $104,572 · end of year $30,682,983

  • 2 · Savings and temporary cash investments

    beginning of year $64,208,650 · end of year $7,377,136

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $580,643

  • 9 · Prepaid expenses and deferred charges

    beginning of year $45,517 · end of year $6,791

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

    $186,650,953

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

    $10,525,266

  • 10c · Land, buildings and equipment, net

    beginning of year $179,567,414 · end of year $176,125,687

  • 11 · Investments: publicly traded securities

    beginning of year $2,711,695 · end of year $760,920

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,989,162 · end of year $1,416,643

  • 20 · Tax-exempt bond liabilities

    beginning of year $107,182,567 · end of year $45,238,451

  • 21 · Escrow or custodial account liability

    beginning of year $2,711,110 · end of year $1,200,060

  • 25 · Other liabilities

    beginning of year $139,625,659 · end of year $172,201,485

  • 27 · Net assets without donor restrictions

    beginning of year -$4,870,650 · end of year -$4,522,479

Mission and programs · 2023

Mission

SEE SCHEDULE O VIAMONTE SENIOR LIVING, INC.'S MISSION IS TO PROVIDE HOMES AND SERVICES TO SENIORS FOR HEALTHY AGING THROUGH IMPROVING THE QUALITY OF LIFE AND PROVIDING A RANGE OF SUPPORT, OR ASSISTIVE SERVICES, IN ADDITION TO THE LIFESTYLE-FOCUSED AMENITIES AND MUCH MORE FOR THE SENIORS.

Activities or mission (Part I)

VIAMONTE SENIOR LIVING 1, INC. ("VSL") PROVIDES ORGANIZATION STRUCTURE AND LEADERSHIP TO MEET THE NEEDS AND IMPROVE THE QUALITY OF LIFE OF OLDER PERSONS BY OFFERING HOUSING AND PROGRAMS.

  • VIAMONTE CONSISTS OF 174 INDEPENDENT LIVING UNITS, WITH AN ADDITIONAL 7 ASSISTED LIVING UNITS AND 10 MEMORY CARE UNITS. VIAMONTE PROVIDES ITS RESIDENTS WITH MEALS, HOUSEKEEPING, LAUNDRY, MAINTENANCE, AND TRANSPORTATION SERVICES, AS WELL AS SALON AND SPA SERVICES. RESIDENTS ARE ALSO ENCOURAGED TO PARTICIPATE IN VARIOUS ACTIVITIES PROVIDED BY VIAMONTE, INCLUDING SOCIAL, PHYSICAL AND CULTURAL ACTIVITIES, E.G., GAMES, YOGA, ETC.

    Expenses $17,448,699 · Revenue $17,960,784

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Charles Shoemake

    CFO, TREASURER

    Total calculated
    $422,721
    From this org
    $0
    From related orgs
    $382,230
    Other
    $40,491
    Hours/week
    2 + 38 related

    Schedule J breakdown matched by us

    Base
    $0 + $364,209 related
    Bonus
    $0 + $300 related
    Other
    $0 + $17,721 related
    Deferred
    $0 + $15,910 related
    Nontaxable benefits
    $0 + $24,581 related
    Filer's total
    $0 + $422,721 related

  • David J Latina

    CHIEF BUSN. DEV. OFFICER, SECRETARY

    Total calculated
    $341,013
    From this org
    $0
    From related orgs
    $294,603
    Other
    $46,410
    Hours/week
    10 + 30 related

    Schedule J breakdown matched by us

    Base
    $0 + $288,110 related
    Bonus
    $0 + $300 related
    Other
    $0 + $6,193 related
    Deferred
    $0 + $11,971 related
    Nontaxable benefits
    $0 + $34,439 related
    Filer's total
    $0 + $341,013 related

  • David Jamison

    CHAIR

    Total calculated
    $0
    Hours/week
    0.1 + 0.9 related

  • Steve Herman

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    0.1 + 0.9 related

  • Gary Freeman

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.1 + 0.9 related

  • Phillip Placier

    BOARD MEMBER (THRU 12/23)

    Total calculated
    $0
    Hours/week
    0.1 + 0.9 related

  • Michele Stratton

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.2 + 0.8 related

  • Sara McVey

    PRESIDENT AND CEO

    Total calculated
    $615,152
    From this org
    $0
    From related orgs
    $580,233
    Other
    $34,919
    Hours/week
    2 + 38 related

    Schedule J breakdown matched by us

    Base
    $0 + $576,654 related
    Bonus
    $0 + $300 related
    Other
    $0 + $3,279 related
    Deferred
    $0 + $23,209 related
    Nontaxable benefits
    $0 + $11,710 related
    Filer's total
    $0 + $615,152 related

  • Martha A Atwood

    CHIEF HR & COMPLIANCE OFFICER

    Total calculated
    $313,511
    From this org
    $0
    From related orgs
    $296,392
    Other
    $17,119
    Hours/week
    2 + 38 related

    Schedule J breakdown matched by us

    Base
    $0 + $289,899 related
    Bonus
    $0 + $300 related
    Other
    $0 + $6,193 related
    Deferred
    $0 + $11,971 related
    Nontaxable benefits
    $0 + $5,148 related
    Filer's total
    $0 + $313,511 related

  • Melody Mitchell Allan

    EXECUTIVE DIRECTOR, VIAMONTE

    Total calculated
    $294,956
    From this org
    $0
    From related orgs
    $250,398
    Other
    $44,558
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $249,122 related
    Bonus
    $0
    Other
    $0 + $1,276 related
    Deferred
    $0 + $10,119 related
    Nontaxable benefits
    $0 + $34,439 related
    Filer's total
    $0 + $294,956 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

The filer's explanations (Part III)

PART I, LINE 3
VIAMONTE SENIOR LIVING 1, INC. DOES NOT COMPENSATE ANY DIRECTOR, OFFICER, OR EMPLOYEE. COMPENSATION IS PROVIDED BY A RELATED ORGANIZATION. IN DETERMINING THE COMPENSATION OF THE CEO, THE RELATED ORGANIZATION USES SEVERAL METHODS INCLUDING REVIEW BY THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS, INDEPENDENT CONSULTANT, COMPENSATION SURVEY OR STUDY, AND APPROVAL BY THE BOARD.

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 partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • EASTERN PARK APARTMENTS LP

    REAL ESTATE · CA

  • TOWN PARK TOWERS LP

    REAL ESTATE · CA

  • WESTERN PARK APARTMENTS LP

    REAL ESTATE · CA

Related corporations and trusts

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

  • SL SENIOR VENTURES LLC

    C · PROPERTY MGMT · CA

Provenance

Return type
form_990
Tax year
2023
Filed
12 November 2024
IRS schema version
2023v5.1
Source object
202443199349307069

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