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← PRESBYTERIAN RETIREMENT COMMUNITIES INC

Form 990 for tax year 2024

Filed by PRESBYTERIAN RETIREMENT COMMUNITIES INC.

Totals

Total revenue
$169,062,333
Total expenses
$175,713,404
Contributions and grants received
$3,495,665
Grants paid
$0
Program service revenue
$164,117,575
Investment income
$1,034,808
Other revenue
$414,285
Total assets, end of year
$573,703,658
Total liabilities, end of year
$457,921,297
Net assets or fund balances, end of year
$115,782,361
Program services expenses (Part IX)
$144,544,544
Management and general expenses
$30,421,819
Fundraising expenses
$747,041
Program service expenses (Part III)
$144,544,544

Program services were 82.3% 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.

  • 1f · All other contributions, gifts and grants

    $3,495,665

  • 2a · Program service revenue: MONTHLY FEES

    total $97,714,283 · related or exempt $97,714,283

  • 2b · Program service revenue: MEDICARE/MEDICAID PAYMENT

    total $33,330,050 · related or exempt $33,330,050

  • 2c · Program service revenue: EARNED ENTRANCE FEES

    total $24,882,658 · related or exempt $24,882,658

  • 2d · Program service revenue: OTHER

    total $7,681,509 · related or exempt $7,681,509

  • 2e · Program service revenue: RENTS

    total $509,075 · related or exempt $509,075

  • 3 · Investment income

    total $761,531 · excluded $761,531

  • 7a · Gross sales of assets other than inventory

    securities $8,596,231

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

    securities $7,724,007 · other assets $598,947

  • 7c · Gain or loss

    securities $872,224 · other assets -$598,947

  • 7d · Net gain or loss

    total $273,277 · related or exempt -$598,947 · excluded $872,224

  • 11a · Other revenue: GAIN/LOSS ON BOND REFUNDING

    total $414,285 · related or exempt $414,285

  • 11e · Other revenue, total

    $414,285

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $60,760,064 · program services $54,081,811 · management and general $6,678,253

  • 8 · Pension plan contributions

    total $1,651,809 · program services $1,409,306 · management and general $242,503

  • 9 · Other employee benefits

    total $5,657,293 · program services $5,522,384 · management and general $134,909

  • 10 · Payroll taxes

    total $4,402,800 · program services $3,891,478 · management and general $511,322

  • 11a · Fees: management

    total $9,338,016 · program services $2,241,124 · management and general $6,349,851 · fundraising $747,041

  • 11b · Fees: legal

    total $508,683 · management and general $508,683

  • 11c · Fees: accounting

    total $324,894 · management and general $324,894

  • 12 · Advertising and promotion

    total $2,114,939 · management and general $2,114,939

  • 13 · Office expenses

    total $428,332 · management and general $428,332

  • 16 · Occupancy

    total $5,145,487 · program services $5,145,487

  • 17 · Travel

    total $41,565 · management and general $41,565

  • 19 · Conferences, conventions and meetings

    total $64,938 · program services $36,478 · management and general $28,460

  • 20 · Interest

    total $8,857,849 · program services $8,857,849

  • 22 · Depreciation, depletion and amortization

    total $26,749,951 · program services $26,749,951

  • 23 · Insurance

    total $5,633,649 · management and general $5,633,649

  • 24a · Other expenses: OUTSIDE SERVICE CONTRACTS

    total $9,908,576 · program services $9,750,411 · management and general $158,165

  • 24b · Other expenses: MEDICAL SUPPLIES

    total $7,043,205 · program services $7,043,205

  • 24c · Other expenses: FOOD

    total $6,539,074 · program services $6,539,074

  • 24d · Other expenses: NATURAL DISASTERS

    total $5,400,670 · program services $5,400,670

  • 24e · All other expenses

    total $15,141,610 · program services $7,875,316 · management and general $7,266,294

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,900 · end of year $6,621

  • 2 · Savings and temporary cash investments

    beginning of year $4,713,317 · end of year $4,104,001

  • 4 · Accounts receivable

    beginning of year $9,315,816 · end of year $9,460,648

  • 7 · Other notes and loans receivable

    beginning of year $18,526,859 · end of year $23,088,397

  • 8 · Inventories for sale or use

    beginning of year $503,046 · end of year $463,930

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,041,537 · end of year $591,653

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

    $673,996,674

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

    $350,584,484

  • 10c · Land, buildings and equipment, net

    beginning of year $324,633,673 · end of year $323,412,190

  • 12 · Investments: other securities

    beginning of year $5,652,908 · end of year $5,926,040

  • 15 · Other assets

    beginning of year $197,588,492 · end of year $206,650,178

  • 17 · Accounts payable and accrued expenses

    beginning of year $19,947,211 · end of year $16,930,391

  • 19 · Deferred revenue

    beginning of year $104,560,239 · end of year $112,822,601

  • 20 · Tax-exempt bond liabilities

    beginning of year $193,511,482 · end of year $206,910,936

  • 25 · Other liabilities

    beginning of year $119,520,173 · end of year $121,257,369

  • 27 · Net assets without donor restrictions

    beginning of year $68,139,248 · end of year $58,509,741

  • 28 · Net assets with donor restrictions

    beginning of year $56,300,195 · end of year $57,272,620

Mission and programs · 2024

Mission

PRESBYTERIAN RETIREMENT COMMUNITIES, INC. IS A CHURCH RELATED, NON-PROFIT COMMUNITY SERVICE ORGANIZATION DEDICATED AND COMMITTED TO PROVIDING SERVICES FOR OLDER ADULTS AND PERSONS WITH SPECIAL NEEDS BY CREATING AND PRESERVING EXCELLENT RESIDENTIAL AND HEALTH CARE COMMUNITIES PROMOTING WELLNESS AND ENCOURAGING ACTIVE AND HEALTHY LIFESTYLE CHOICES. PRESBYTERIAN RETIREMENT COMMUNITIES, INC. BELIEVES IN AND IS COMMITTED TO HONORING EACH PERSON'S DIGNITY, RIGHTS, SELF-RESPECT AND INDEPENDENCE. PRESBYTERIAN RETIREMENT COMMUNITIES, INC. IS COMMITTED TO A PROGRAM OF STEWARDSHIP THAT RECOGNIZES ITS RESPONSIBILITY TO USE ITS RESOURCES WELL.

  • HOMES FOR THE AGED THAT PROVIDE HOUSING, DINING, HEALTH CARE AND OTHER SERVICES FOR OLDER ADULTS AND PERSONS WITH SPECIAL NEEDS. OVER 2,000 CLIENTS WERE SERVED.

    Expenses $144,544,544 · Revenue $164,117,575

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • DONALD DODDRIDGE

    CHAIRMAN

    Total calculated
    $0

  • JOHN HILLENMEYER

    CHAIRMAN

    Total calculated
    $0

  • TERENCE ROGERS

    CEO/PRESIDEN

    Total calculated
    $1,209,980
    From this org
    $0
    From related orgs
    $1,176,383
    Other
    $33,597

    Schedule J breakdown matched by us

    Base
    not reported + $414,691 related
    Bonus
    not reported + $74,997 related
    Other
    not reported + $686,695 related
    Deferred
    not reported + $25,039 related
    Nontaxable benefits
    not reported + $8,558 related
    Filer's total
    not reported + $1,209,980 related

  • HENRY T KEITH

    CEO/PRESIDEN

    Total calculated
    $714,829
    From this org
    $0
    From related orgs
    $682,696
    Other
    $32,133

  • HENRY T KEITH

    CFO/TREASUR/

    Total calculated
    $0

  • JENNIFER MARTENS

    CFO/TREASUR/

    Total calculated
    $301,500
    From this org
    $0
    From related orgs
    $275,285
    Other
    $26,215

    Schedule J breakdown matched by us

    Base
    not reported + $218,332 related
    Bonus
    not reported + $32,058 related
    Other
    not reported + $24,895 related
    Deferred
    not reported + $13,709 related
    Nontaxable benefits
    not reported + $12,506 related
    Filer's total
    not reported + $301,500 related

  • GARRY HENNIS

    COO/EXECUTIV

    Total calculated
    $681,135
    From this org
    $0
    From related orgs
    $648,336
    Other
    $32,799

    Schedule J breakdown matched by us

    Base
    not reported + $505,354 related
    Bonus
    not reported + $112,026 related
    Other
    not reported + $30,956 related
    Deferred
    not reported + $21,887 related
    Nontaxable benefits
    not reported + $10,912 related
    Filer's total
    not reported + $681,135 related

  • MEGAN FAUBEL

    SECRETARY

    Total calculated
    $0

  • STEPHEN DYE

    DIRECTOR

    Total calculated
    $0

  • GREG BUSTLE

    DIRECTOR

    Total calculated
    $0

  • WILLIAM BELL

    DIRECTOR

    Total calculated
    $0

  • JEFFREY S MOCK

    DIRECTOR

    Total calculated
    $0

  • LINDA SHELLEY

    DIRECTOR

    Total calculated
    $0

  • JOHN MARK RAMSEY

    DIRECTOR

    Total calculated
    $0

  • JOHN DEBEVOISE

    DIRECTOR

    Total calculated
    $0

  • DAVID CARLEN MADDUX

    DIRECTOR

    Total calculated
    $0

  • CLIFFORD WILLIAM HULL

    DIRECTOR

    Total calculated
    $0

  • KRISTIN KUTAC

    DIRECTOR

    Total calculated
    $0

  • MARY ELLEN EARLY

    DIRECTOR

    Total calculated
    $0

  • LESLIE MURA

    SALES COUNSE

    Total calculated
    $172,656
    From this org
    $156,895
    From related orgs
    $0
    Other
    $15,761
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $79,757
    Bonus
    not reported
    Other
    $77,138
    Deferred
    $7,699
    Nontaxable benefits
    $8,062
    Filer's total
    $172,656

  • CHERYL WHIGHAM

    DIRECTOR OF

    Total calculated
    $197,652
    From this org
    $185,303
    From related orgs
    $0
    Other
    $12,349
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $110,772
    Bonus
    $40,000
    Other
    $34,531
    Deferred
    $4,762
    Nontaxable benefits
    $7,587
    Filer's total
    $197,652

  • TRISHA GLACCUM

    SALES COUNSE

    Total calculated
    $201,590
    From this org
    $183,339
    From related orgs
    $0
    Other
    $18,251
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $69,260
    Bonus
    $40,000
    Other
    $74,079
    Deferred
    $8,765
    Nontaxable benefits
    $9,486
    Filer's total
    $201,590

  • PAMELA ROBY

    DIRECTOR OF

    Total calculated
    $193,300
    From this org
    $176,047
    From related orgs
    $0
    Other
    $17,253
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $94,980
    Bonus
    $31,000
    Other
    $50,067
    Deferred
    $8,722
    Nontaxable benefits
    $8,531
    Filer's total
    $193,300

  • SHERLEY TENELUS

    REGISTERED N

    Total calculated
    $158,620
    From this org
    $158,620
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $88,613
    Bonus
    not reported
    Other
    $70,007
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $158,620

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

Itemized on Schedule J with no Part VII listing of the same name on this return:

  • HENRY T KEITH

    CEO/PRESIDENT

    Schedule J breakdown

    Base
    not reported + $515,926 related
    Bonus
    not reported + $126,586 related
    Other
    not reported + $40,184 related
    Deferred
    not reported + $21,221 related
    Nontaxable benefits
    not reported + $10,912 related
    Filer's total
    not reported + $714,829 related

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)

SCHEDULE J, PAGE 1, PART I, LINE 3
THE ORGANIZATION RELIED ON A RELATED ORGANIZATION (WESTMINSTER SERVICES, INC. 59-3614812) FOR THE COMPENSATION COMMITTEE, COMPENSATION SURVEY OR STUDY, AND APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE.

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.

Disregarded entities

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

  • WESTMINSTER COMMUNITIES OF BRADENTO N

    HOME AGED · FL · income $35,684,044 · assets $71,209,935

    Directly controlled by PRESBYTERI AN RETIREMENT COMMUNITIES INC

  • WESTMINSTER WINTER PARK

    HOME AGED · FL · income $53,171,597 · assets $192,995,339

    Directly controlled by PRESBYTERI AN RETIREMENT COMMUNITIES INC

  • WESTMINSTER TOWERS ORLANDO

    HOME AGED · FL · income $27,519,968 · assets $56,800,555

    Directly controlled by PRESBYTERI AN RETIREMENT COMMUNITIES INC

  • WESTMINSTER OAKS

    HOME AGED · FL · income $54,643,632 · assets $150,928,622

    Directly controlled by PRESBYTERI AN RETIREMENT COMMUNITIES INC

Provenance

Return type
form_990
Tax year
2024
Filed
14 February 2026
IRS schema version
2024v5.0
Source object
202600479349300810

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