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Nonprofiteer
← SPRINGHOUSE INC

Form 990 for tax year 2022

Filed by SPRINGHOUSE INC.

Totals

Total revenue
$10,693,230
Total expenses
$7,898,423
Contributions and grants received
$1,000
Grants paid
$0
Program service revenue
$8,100,380
Investment income
$2,591,850
Other revenue
$0
Total assets, end of year
$35,790,682
Total liabilities, end of year
$21,152,290
Net assets or fund balances, end of year
$14,638,392
Program services expenses (Part IX)
$7,718,340
Management and general expenses
$180,083
Fundraising expenses
$0
Program service expenses (Part III)
$7,718,340

Program services were 97.7% 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

    $1,000

  • 2a · Program service revenue: RENTAL INCOME

    total $7,688,240 · related or exempt $7,688,240

  • 2b · Program service revenue: RESIDENT SERVICES

    total $188,508 · related or exempt $188,508

  • 2c · Program service revenue: AMORTIZATION OF NON-REFUNDABLE EN

    total $166,965 · related or exempt $166,965

  • 2d · Program service revenue: COMMUNITY FEES

    total $56,667 · related or exempt $56,667

  • 3 · Investment income

    total $369,655 · excluded $369,655

  • 7a · Gross sales of assets other than inventory

    securities $4,850,869

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

    securities $2,628,674

  • 7c · Gain or loss

    securities $2,222,195

  • 7d · Net gain or loss

    total $2,222,195 · excluded $2,222,195

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $3,233,582 · program services $3,159,856 · management and general $73,726

  • 9 · Other employee benefits

    total $322,482 · program services $315,129 · management and general $7,353

  • 10 · Payroll taxes

    total $201,226 · program services $196,638 · management and general $4,588

  • 11a · Fees: management

    total $368,993 · program services $360,581 · management and general $8,412

  • 11b · Fees: legal

    total $7,798 · program services $7,620 · management and general $178

  • 11c · Fees: accounting

    total $30,055 · program services $29,368 · management and general $687

  • 11g · Fees: other

    total $8,750 · program services $8,551 · management and general $199

  • 12 · Advertising and promotion

    total $107,828 · program services $105,370 · management and general $2,458

  • 13 · Office expenses

    total $265,966 · program services $259,902 · management and general $6,064

  • 16 · Occupancy

    total $383,552 · program services $374,808 · management and general $8,744

  • 17 · Travel

    total $4,509 · program services $4,406 · management and general $103

  • 20 · Interest

    total $345,642 · program services $337,760 · management and general $7,882

  • 22 · Depreciation, depletion and amortization

    total $888,667 · program services $868,405 · management and general $20,262

  • 23 · Insurance

    total $133,886 · program services $130,833 · management and general $3,053

  • 24a · Other expenses: RENTAL EXPENSES

    total $683,217 · program services $667,640 · management and general $15,577

  • 24b · Other expenses: REPAIR AND MAINTENANCE

    total $599,117 · program services $585,459 · management and general $13,658

  • 24c · Other expenses: REAL ESTATE TAXES

    total $164,645 · program services $160,891 · management and general $3,754

  • 24d · Other expenses: SECURITY EXPENSES

    total $130,444 · program services $127,470 · management and general $2,974

  • 24e · All other expenses

    total $18,064 · program services $17,653 · management and general $411

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,317,461 · end of year $2,263,781

  • 2 · Savings and temporary cash investments

    beginning of year $2,052,777 · end of year $2,057,562

  • 4 · Accounts receivable

    beginning of year $65,861 · end of year $99,785

  • 9 · Prepaid expenses and deferred charges

    beginning of year $25,846 · end of year $37,643

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

    $26,720,076

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

    $16,180,993

  • 10c · Land, buildings and equipment, net

    beginning of year $10,922,299 · end of year $10,539,083

  • 11 · Investments: publicly traded securities

    beginning of year $17,045,003 · end of year $15,812,125

  • 14 · Intangible assets

    beginning of year $39,067 · end of year $28,433

  • 15 · Other assets

    beginning of year $4,268,618 · end of year $4,952,270

  • 17 · Accounts payable and accrued expenses

    beginning of year $12,918 · end of year $43,912

  • 19 · Deferred revenue

    beginning of year $531,904 · end of year $471,034

  • 23 · Secured mortgages and notes payable

    beginning of year $8,508,180 · end of year $7,684,847

  • 25 · Other liabilities

    beginning of year $13,643,633 · end of year $12,952,497

  • 27 · Net assets without donor restrictions

    beginning of year $14,881,997 · end of year $14,479,092

  • 28 · Net assets with donor restrictions

    beginning of year $158,300 · end of year $159,300

Mission and programs · 2022

Mission

TO OPERATE A RETIREMENT COMMUNITY CONSISTING OF 52 INDEPENDENT LIVING UNITS, 61 ASSISTED LIVING, UNITS AND 22 DEMENTIA ASSISTED LIVING UNITS.

Activities or mission (Part I)

TO OPERATE A RETIREMENT COMMUNITY CONSISTING OF 52 INDEPENDENT LIVING UNITS, 61 ASSISTED LIVING UNITS, AND 22 DEMENTIA ASSISTED LIVING UNITS.

  • PROVIDING SERVICES TO RESIDENTS INCLUDING ASSISTED LIVING, INDEPENDENT LIVING, CLINICAL SERVICES, MEALS, SOCIAL & CULTURAL ACTIVITIES, HOUSEKEEPING, AND OTHER SERVICES, ALL OF WHICH FURTHER THEIR EXEMPT PURPOSE. LOCATED IN BOSTON, MA THE ORGANIZATION HAS 52 INDEPENDENT LIVING UNITS, 61 ASSISTED LIVING, UNITS AND 22 DEMENTIA ASSISTED LIVING UNITS.

    Expenses $7,718,340 · Revenue $8,100,380

As filed on the 2022 return.

Listed in Part VII

  • Georgia Buck

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Julie Taberman

    CLERK

    Total calculated
    $0
    Hours/week
    2

  • Kenneth Brooks

    PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • Mindy Spitz

    TREASURER/VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • Thelma Hilton Pierce

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Yan Lin

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

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.

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.

Provenance

Return type
form_990
Tax year
2022
Filed
9 November 2023
IRS schema version
2022v5.0
Source object
202323199349310897

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