Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1d · Related organizations

  $144,543

• 1e · Government grants (contributions)

  $3,780,676

• 2a · Program service revenue: RENTAL INCOME

  total $7,121,628 · related or exempt $7,121,628

• 2b · Program service revenue: RESIDENT SERVICES REVENUE

  total $1,129,572 · related or exempt $1,129,572

• 3 · Investment income

  total $190,483 · excluded $190,483

• 7a · Gross sales of assets other than inventory

  securities $10,521

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

  securities $0

• 7c · Gain or loss

  securities $10,521

• 7d · Net gain or loss

  total $10,521 · excluded $10,521

• 11a · Other revenue: TENANT FEES

  total $30,652 · related or exempt $30,652

• 11b · Other revenue: INSURANCE CLAIM

  total $22,760 · related or exempt $22,760

• 11d · All other revenue

  total $9,753 · related or exempt $9,753

• 11e · Other revenue, total

  $63,165

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $515,268 · program services $515,268

• 7 · Other salaries and wages

  total $1,764,946 · program services $1,764,946

• 8 · Pension plan contributions

  total $133,355 · program services $133,355

• 9 · Other employee benefits

  total $210,625 · program services $210,625

• 10 · Payroll taxes

  total $214,811 · program services $214,811

• 11b · Fees: legal

  total $71,170 · program services $71,170

• 11c · Fees: accounting

  total $26,076 · management and general $26,076

• 12 · Advertising and promotion

  total $66,421 · program services $66,421

• 13 · Office expenses

  total $514,448 · program services $514,448

• 16 · Occupancy

  total $571,562 · program services $571,562

• 20 · Interest

  total $443,260 · program services $443,260

• 22 · Depreciation, depletion and amortization

  total $1,341,389 · program services $1,341,389

• 23 · Insurance

  total $202,613 · program services $202,613

• 24a · Other expenses: NURSING HOME/ASSISTED L

  total $1,773,776 · program services $1,773,776

• 24b · Other expenses: REPAIR & MAINTENANCE

  total $1,670,822 · program services $1,670,822

• 24c · Other expenses: LEASE EXPENSES

  total $150,219 · program services $150,219

• 24d · Other expenses: BAD DEBT EXPENSES

  total $4,720 · program services $4,720

• 24e · All other expenses

  total $4,286 · program services $4,286

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $1,121,925 · end of year $1,546,350

• 2 · Savings and temporary cash investments

  beginning of year $4,118,468 · end of year $3,716,330

• 4 · Accounts receivable

  beginning of year $188,362 · end of year $337,588

• 9 · Prepaid expenses and deferred charges

  beginning of year $153,630 · end of year $192,925

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

  $51,284,280

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

  $24,662,200

• 10c · Land, buildings and equipment, net

  beginning of year $23,648,291 · end of year $26,622,080

• 14 · Intangible assets

  beginning of year $1,345,507 · end of year $1,276,145

• 17 · Accounts payable and accrued expenses

  beginning of year $889,419 · end of year $1,045,132

• 19 · Deferred revenue

  beginning of year $6,744 · end of year $15,273

• 23 · Secured mortgages and notes payable

  beginning of year $11,509,574 · end of year $11,283,112

• 25 · Other liabilities

  beginning of year $2,357,288 · end of year $2,773,922

• 27 · Net assets without donor restrictions

  beginning of year $15,813,158 · end of year $15,234,100

• 28 · Net assets with donor restrictions

  end of year $3,339,879

The filer's explanations (Part III)

PART I, LINE 7

THE EXECUTIVE TEAM RECEIVED A BOARD APPROVED CALENDAR YEAR BONUS WHICH WAS REPORTED IN THEIR 2023 W2.