Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: MONTHLY FEES

  total $9,317,977 · related or exempt $9,317,977

• 2b · Program service revenue: HEALTH CARE SERVICES

  total $3,444,946 · related or exempt $3,444,946

• 2c · Program service revenue: RESIDENT AND OTHER SERVICES

  total $530,530 · excluded $530,530

Functional expenses

Part IX, the statement of functional expenses.

• 7 · Other salaries and wages

  total $6,486,134 · program services $6,486,134

• 8 · Pension plan contributions

  total $341,501 · program services $341,501

• 9 · Other employee benefits

  total $417,777 · program services $417,777

• 10 · Payroll taxes

  total $483,661 · program services $483,661

• 11b · Fees: legal

  total $10,428 · program services $10,428

• 11g · Fees: other

  total $458,183 · program services $458,183

• 12 · Advertising and promotion

  total $37,111 · program services $37,111

• 13 · Office expenses

  total $1,145,917 · program services $1,145,917

• 16 · Occupancy

  total $540,189 · program services $540,189

• 17 · Travel

  total $1,097 · program services $1,097

• 19 · Conferences, conventions and meetings

  total $3,057 · program services $3,057

• 20 · Interest

  total $834,830 · program services $834,830

• 22 · Depreciation, depletion and amortization

  total $1,578,683 · program services $1,578,683

• 23 · Insurance

  total $16,175 · program services $16,175

• 24a · Other expenses: FOOD SERVICE EXPENSE

  total $943,045 · program services $943,045

• 24b · Other expenses: EQUIPMENT RENTAL & MAIN

  total $355,367 · program services $355,367

• 24c · Other expenses: DRUGS AND MEDICAL SUPPL

  total $99,137 · program services $99,137

• 24d · Other expenses: BAD DEBTS

  total $55,000 · program services $55,000

• 24e · All other expenses

  total $86,202 · program services $86,202

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $964,175 · end of year $781,621

• 4 · Accounts receivable

  beginning of year $342,179 · end of year $277,879

• 9 · Prepaid expenses and deferred charges

  beginning of year $4,988

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

  $28,675,027

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

  $2,598,349

• 10c · Land, buildings and equipment, net

  beginning of year $25,426,675 · end of year $26,076,678

• 12 · Investments: other securities

  beginning of year $1,227,288 · end of year $414,675

• 15 · Other assets

  beginning of year $0 · end of year $95,366

• 17 · Accounts payable and accrued expenses

  beginning of year $63,694 · end of year $64,378

• 20 · Tax-exempt bond liabilities

  beginning of year $17,348,205 · end of year $17,364,012

• 25 · Other liabilities

  beginning of year $2,797,705 · end of year $3,874,782

• 29 · Capital stock, trust principal or current funds

  beginning of year $0 · end of year $0

• 30 · Paid-in or capital surplus, or land, building or equipment fund

  beginning of year $0 · end of year $0

• 31 · Retained earnings, endowment or other funds

  beginning of year $7,755,701 · end of year $6,343,047

The filer's explanations (Part III)

PART I, LINE 3

THE OFFICERS AND KEY EMPLOYEES OF THE ORGANIZATION ARE PAID BY GOODWIN HOUSE INCORPORATED, A RELATED ORGANIZATION. GOODWIN HOUSE INCORPORATED SETS THE COMPENSATION FOR THE PRESIDENT/CEO USING AN INDEPENDENT COMPENSATION CONSULTANT, COMPARATIVE COMPENSATION STUDIES, AND THE FORM 990 OF OTHER ORGANIZATIONS TO ESTABLISH COMPENSATION FOR OFFICERS AND KEY EMPLOYEES. THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES CONDUCTS AN ANNUAL REVIEW OF THE PERFORMANCE AND COMPENSATION OF THE PRESIDENT AND CEO; RESULTS OF THE PERFORMANCE REVIEW AND WAGE ANALYSIS ARE SHARED WITH THE FULL BOARD, AND THE BOARD OF TRUSTEES ESTABLISHES THE COMPENSATION OF THE PRESIDENT AND CEO BASED ON THE DATA PRESENTED. ANNUALLY, THE CEO ENGAGES AN OUTSIDE CONSULTANT TO EVALUATE THE WAGES OF THE CFO, EXECUTIVE DIRECTORS, CORPORATE DIRECTOR OF HUMAN RESOURCES AND VP OF MARKETING AND MISSION EXPANSION. THE EXECUTIVE COMMITTEE APPROVES SIGNIFICANT CHANGES IN EXECUTIVE COMPENSATION. THIS PROCESS WAS LAST COMPLETED IN 2023.

PART I, LINE 4B

THE ORGANIZATION SPONSORS ELIGIBLE DEFERRED COMPENSATION PLANS UNDER SECTIONS 457(B) AND 457(F). THESE PLANS ARE INTENDED TO BE TOP HAT PLANS UNDER SECTION 201(2) OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974. THE ORGANIZATION CONTRIBUTED $128,333 AND $117,867 TO THE SECTION 457 PLANS FOR THE YEARS ENDED SEPTEMBER 30, 2024 AND 2023, RESPECTIVELY. THE ORGANIZATION MAINTAINED A 457(F) NONQUALIFIED RETIREMENT PLAN. DURING THE FISCAL YEAR, NO DISTRIBUTIONS WERE MADE TO ANY INDIVIDUALS PARTICIPATING IN THE PLAN. DURING THE FISCAL YEAR, THE FOLLOWING INDIVIDUALS MADE CONTRIBUTIONS TO THE PLAN: ROBERT LIEBREICH: $4,320 TIMOTHY SMITH: $15,000 CHANDARA KUMAR: $8,750

PART I, LINE 6

MEETING BUDGETED OUTCOMES IS INCLUDED IN THE GOALS AND IMPACT THE BONUS AMOUNT AWARDED.

Related corporations and trusts

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

• GOODWIN HOUSE COMMUNITY SERVICES

  C · MGMT SERVICES TO NON-PROFIT RETIREMENT COMMUNITIES · VA

  Directly controlled by GHI