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Nonprofiteer
← WAKE ROBIN CORP

Form 990 for tax year 2023

Filed by WAKE ROBIN CORP.

Totals

Total revenue
$35,393,811
Total expenses
$33,069,285
Contributions and grants received
$70,865
Grants paid
$0
Program service revenue
$34,083,884
Investment income
$1,239,062
Other revenue
$0
Total assets, end of year
$137,379,968
Total liabilities, end of year
$155,433,547
Net assets or fund balances, end of year
-$18,053,579
Program services expenses (Part IX)
$30,881,275
Management and general expenses
$2,188,010
Fundraising expenses
$0
Program service expenses (Part III)
$30,881,275

Program services were 93.4% 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

    $70,865

  • 2a · Program service revenue: RESIDENT SERVICE FEES

    total $19,289,565 · related or exempt $19,289,565

  • 2b · Program service revenue: AMORTIZATION OF ENTRANCE FEE

    total $7,134,460 · related or exempt $7,134,460

  • 2c · Program service revenue: HEALTH CARE REVENUE

    total $5,546,633 · related or exempt $5,546,633

  • 2d · Program service revenue: TERMINATION FEES

    total $1,391,228 · related or exempt $1,391,228

  • 2e · Program service revenue: ANCILLARY REVENUE

    total $721,998 · related or exempt $721,998

  • 3 · Investment income

    total $1,088,897 · excluded $1,088,897

  • 7a · Gross sales of assets other than inventory

    securities $426,326 · other assets $11,600

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

    securities $287,761 · other assets $0

  • 7c · Gain or loss

    securities $138,565 · other assets $11,600

  • 7d · Net gain or loss

    total $150,165 · excluded $150,165

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $480,948 · program services $205,204 · management and general $275,744

  • 7 · Other salaries and wages

    total $6,840,618 · program services $6,472,453 · management and general $368,165

  • 8 · Pension plan contributions

    total $166,096 · program services $154,651 · management and general $11,445

  • 9 · Other employee benefits

    total $7,194,401 · program services $6,571,050 · management and general $623,351

  • 10 · Payroll taxes

    total $880,350 · program services $803,674 · management and general $76,676

  • 11b · Fees: legal

    total $42,333 · management and general $42,333

  • 11c · Fees: accounting

    total $56,498 · management and general $56,498

  • 11f · Fees: investment management

    total $177,261 · management and general $177,261

  • 11g · Fees: other

    total $467,533 · program services $415,416 · management and general $52,117

  • 12 · Advertising and promotion

    total $40,472 · program services $40,472

  • 13 · Office expenses

    total $1,138,441 · program services $1,099,286 · management and general $39,155

  • 14 · Information technology

    total $131,538 · management and general $131,538

  • 16 · Occupancy

    total $4,380,435 · program services $4,127,722 · management and general $252,713

  • 20 · Interest

    total $2,932,770 · program services $2,919,288 · management and general $13,482

  • 22 · Depreciation, depletion and amortization

    total $5,947,497 · program services $5,920,156 · management and general $27,341

  • 23 · Insurance

    total $473,726 · program services $471,548 · management and general $2,178

  • 24a · Other expenses: DINING

    total $1,620,809 · program services $1,582,796 · management and general $38,013

  • 24b · Other expenses: NURSE/THERAPY/ANCILLARY

    total $97,559 · program services $97,559

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,700 · end of year $1,700

  • 2 · Savings and temporary cash investments

    beginning of year $7,136,341 · end of year $9,045,713

  • 4 · Accounts receivable

    beginning of year $666,447 · end of year $588,665

  • 8 · Inventories for sale or use

    beginning of year $31,388 · end of year $25,586

  • 9 · Prepaid expenses and deferred charges

    beginning of year $515,715 · end of year $355,849

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

    $159,720,273

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

    $73,231,232

  • 10c · Land, buildings and equipment, net

    beginning of year $86,997,237 · end of year $86,489,041

  • 11 · Investments: publicly traded securities

    beginning of year $36,338,046 · end of year $40,873,414

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,594,367 · end of year $3,244,361

  • 19 · Deferred revenue

    beginning of year $65,469,572 · end of year $68,373,106

  • 20 · Tax-exempt bond liabilities

    beginning of year $81,047,967 · end of year $78,542,988

  • 25 · Other liabilities

    beginning of year $5,483,697 · end of year $5,273,092

  • 27 · Net assets without donor restrictions

    beginning of year -$27,786,686 · end of year -$23,400,549

  • 28 · Net assets with donor restrictions

    beginning of year $4,877,957 · end of year $5,346,970

Mission and programs · 2023

Mission

ESTABLISH A SUSTAINABLE DYNAMIC COMMUNITY OF SENIORS THAT HONORS BOTH MUTUAL SUPPORT AND INDEPENDENCE AND ADDRESSES THE HEALTH AND WELLNESS OF EACH RESIDENT.

Activities or mission (Part I)

TO ESTABLISH, OWN, AND MAINTAIN CHARITABLE CONTINUING CARE RETIREMENT COMMUNITIES FOR THE ELDERLY

  • WAKE ROBIN HAS ONE PRIMARY PROGRAM SERVICE, TO ESTABLISH AND OWN A SUSTAINABLE AND DYNAMIC LIFE PLAN COMMUNITY (ALSO KNOWN AS A CONTINUING CARE RETIREMENT COMMUNITY) FOR OLDER ADULTS THAT HONORS BOTH MUTUAL SUPPORT AND INDEPENDENCE AND ADDRESSES THE HEALTH AND WELLNESS OF EACH RESIDENT. WAKE ROBIN EMBODIES A "RESIDENT DRIVEN" COMMUNITY LIFE, IN WHICH RESIDNTS CAN BE AS ENGAGED AS THEY WANT TO BE BOTH WITHIN AND OUTSIDE OF WAKE ROBIN. WAKE ROBIN PROVIDES RESIDENTS WITH HOUSING, HEALTH CARE SERVICES, FOOD SERVICES, SECURITY AND OTHER ANCILLARY SERVICES. WAKE ROBIN IS COMMITTED TO LIVING OUR CORE VALUES OF COMMUNITY, BALANCE, DIFFERENCE, ENVIRONMENTAL STEWARDSHIP, AND HUMOR. CONTINUED ON SCHEDULE O.THE SINGLE SITE COMMUNITY OFFERS 250 INDEPENDENT LIVING HOMES AND 98 HOMES IN THE LINDEN HEALTH CENTER (41 RESIDENTIAL CARE HOMES, 39 SKILLED NURSING HOMES AND 18 MEMORY CARE). AT DECEMBER 31, 2023, THE COMMUNITY HOUSED APPROXIMATELY 331 RESIDENTS IN INDEPENDENT HOMES AND 73 RESIDENTS IN THE HEALTH CENTER. WAKE ROBIN ALSO PROVIDES BENEVOLENCE ASSISTANCE FOR ITS RESIDENTS WHO, THROUGH NO FAULT OF THEIR OWN, HAVE EXHAUSTED THEIR FINANCIAL RESOURCES.

    Expenses $30,881,275 · Revenue $34,083,884

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

Listed in Part VII

  • John Maitland

    CHAIR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Arthur Wright

    VICE-CHAIR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Brigette White

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Chris Chase

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Dolly Fleming

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Jean Lenes

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Meredith Jones

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Rosalyn Graham

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Sarah Billings-Berg

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Sarah Tischler

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Sarah Webster

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Steve Schonberg

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Tania Bertsch

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Tara Banks

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Katie Hawley

    BOARD MEMBER - LEFT MAY 2023

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Meagan Buckley

    CEO & PRESIDENT

    Total calculated
    $255,356
    From this org
    $246,293
    From related orgs
    $0
    Other
    $9,063
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $211,604
    Bonus
    $34,369
    Other
    $320
    Deferred
    $2,000
    Nontaxable benefits
    $7,063
    Filer's total
    $255,356

  • Martha Maksym

    CEO & PRESIDENT - LEFT JAN 2023

    Total calculated
    $20,388
    From this org
    $18,847
    From related orgs
    $0
    Other
    $1,541
    Hours/week
    40

  • Marysue Kelsen

    CFO, SECRETARY & TREASURER

    Total calculated
    $205,204
    From this org
    $165,833
    From related orgs
    $0
    Other
    $39,371
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $159,056
    Bonus
    $6,500
    Other
    $277
    Deferred
    $2,000
    Nontaxable benefits
    $37,371
    Filer's total
    $205,204

  • Leslie Parker

    DIRECTOR OF ENVIRONMENTAL SERVICES

    Total calculated
    $165,383
    From this org
    $150,364
    From related orgs
    $0
    Other
    $15,019
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $143,072
    Bonus
    $6,500
    Other
    $792
    Deferred
    $2,000
    Nontaxable benefits
    $13,019
    Filer's total
    $165,383

  • Heather Filonow

    DIRECTOR OF HEALTH SERVICES

    Total calculated
    $154,450
    From this org
    $139,431
    From related orgs
    $0
    Other
    $15,019
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $132,930
    Bonus
    $6,500
    Other
    $1
    Deferred
    $2,000
    Nontaxable benefits
    $13,019
    Filer's total
    $154,450

  • Marybeth Dudley

    DIRECTOR OF MARKETING

    Total calculated
    $153,569
    From this org
    $138,051
    From related orgs
    $0
    Other
    $15,518
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $130,733
    Bonus
    $6,500
    Other
    $818
    Deferred
    $2,000
    Nontaxable benefits
    $13,518
    Filer's total
    $153,569

  • Kate Hays

    DIRECTOR OF DINING

    Total calculated
    $147,577
    From this org
    $132,558
    From related orgs
    $0
    Other
    $15,019
    Hours/week
    40

  • Tenzin Tsephal

    STAFF NURSE - RN

    Total calculated
    $149,553
    From this org
    $124,660
    From related orgs
    $0
    Other
    $24,893
    Hours/week
    40

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

  • 3 · Compensation committee
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 7 · Other non-fixed payments

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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 7
DIRECTOR LEVEL BONUSES ARE DISCRETIONARY NON-FIXED PAYMENTS. THE BONUS IS INCLUDED IN EACH EMPLOYEE'S W-2 COMPENSATION. BONUSES ARE DETERMINED BY THE CEO AND APPROVED BY THE BOARD OF DIRECTORS. THE CEO BONUS IS DETERMINED IN LINE WITH THE OTHER DISCRETIONARY BONUSES, BUT IS DETERMINED AND APPROVED BY THE BOARD OF DIRECTORS. THE FOLLOWING EMPLOYEES LISTED ON FORM 990, PART VII, SECTION A RECEIVED A BONUS IN 2023: MEAGAN BUCKLEY, CEO & PRESIDENT - $34,369 BRENDA CHEESEMAN, DIRECTOR OF HUMAN RESOURCES - $6,500 HEATHER FILONOW, DIRECTOR OF HEALTH SERVICES - $6,500 KATE HAYS, DIRECTOR OF DINING - $6,500 LESLIE PARKER, DIRECTOR OF ENVIRONMENTAL SERVICES - $6,500 MARYBETH DUDLEY, DIRECTOR OF MARKETING - $6,500 MARYSUE KELSEN, CFO, SECRETARY & TREASURER - $6,500

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.

  • THE WAKE ROBIN GROUP INC

    501(C)(3) · SUPPORT THE CHARITABLE PURPOSES AND ACTIVITIES OF WAKE ROBIN CORPORATION · VT · controlled entity

    Directly controlled by WAKE ROBIN CORPORATION

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.

  • WAKE ROBIN MANAGEMENT LLC

    MANAGEMENT SERVICES TO SENIOR LIVING FACILITY · VT · income $0 · assets $0

    Directly controlled by WAKE ROBIN CORPORATION

Provenance

Return type
form_990
Tax year
2023
Filed
27 August 2024
IRS schema version
2023v5.1
Source object
202422429349300322

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