Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: ROUTINE SERVICES

  total $7,035,697 · related or exempt $7,035,697

• 2b · Program service revenue: OTHER SERVICE

  total $11,371 · related or exempt $11,371

• 2c · Program service revenue: BEAUTY SHOP SERVICES

  total $9,292 · related or exempt $9,292

• 3 · Investment income

  total $44,366 · excluded $44,366

Functional expenses

Part IX, the statement of functional expenses.

• 7 · Other salaries and wages

  total $2,413,675 · program services $2,273,511 · management and general $140,164

• 9 · Other employee benefits

  total $517,758 · management and general $517,758

• 10 · Payroll taxes

  total $181,009 · program services $170,922 · management and general $10,087

• 11a · Fees: management

  total $423,847 · management and general $423,847

• 11c · Fees: accounting

  total $8,612 · management and general $8,612

• 11g · Fees: other

  total $1,132,997 · program services $1,079,569 · management and general $53,428

• 12 · Advertising and promotion

  total $14,177 · program services $7,091 · management and general $7,086

• 13 · Office expenses

  total $134,951 · program services $119,381 · management and general $15,570

• 14 · Information technology

  total $58,965 · management and general $58,965

• 16 · Occupancy

  total $194,506 · program services $166,454 · management and general $28,052

• 17 · Travel

  total $19,602 · management and general $19,602

• 19 · Conferences, conventions and meetings

  total $430 · management and general $430

• 20 · Interest

  total $61,740 · program services $61,740

• 22 · Depreciation, depletion and amortization

  total $162,855 · program services $162,855

• 23 · Insurance

  total $121,014 · program services $5,693 · management and general $115,321

• 24a · Other expenses: THERAPY CHARGES

  total $462,422 · program services $462,422

• 24b · Other expenses: CARE RELATED SUPPLIES A

  total $328,654 · program services $328,654

• 24c · Other expenses: MEDICAID ASSESSMENT

  total $301,386 · program services $301,386

• 24d · Other expenses: BAD DEBT EXPENSE

  total $255,772 · program services $255,772

• 24e · All other expenses

  total $367,702 · program services $297,554 · management and general $70,148

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $500 · end of year $501

• 2 · Savings and temporary cash investments

  beginning of year $20,369 · end of year $21,942

• 4 · Accounts receivable

  beginning of year $481,506 · end of year $565,558

• 8 · Inventories for sale or use

  beginning of year $10,817 · end of year $10,817

• 9 · Prepaid expenses and deferred charges

  beginning of year $10,178 · end of year $8,925

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

  $5,508,753

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

  $3,981,502

• 10c · Land, buildings and equipment, net

  beginning of year $1,644,910 · end of year $1,527,251

• 15 · Other assets

  beginning of year $1,729,552 · end of year $1,551,836

• 17 · Accounts payable and accrued expenses

  beginning of year $270,084 · end of year $256,227

• 20 · Tax-exempt bond liabilities

  beginning of year $1,434,394 · end of year $1,341,947

• 23 · Secured mortgages and notes payable

  beginning of year $26,525 · end of year $19,297

• 25 · Other liabilities

  beginning of year $109,791 · end of year $72,112

• 27 · Net assets without donor restrictions

  beginning of year $2,057,038 · end of year $1,997,247

The filer's explanations (Part III)

PART I, LINE 3

RELATED ORG METHODS USED FOR COMPENSATION EXPLANATION: THE ORGANIZATION DOES NOT COMPENSATE ANY OFFICERS OR EMPLOYEES. ALL COMPENSATION IS PAID BY THE ORGANIZATION'S PARENT, MISSISSIPPI METHODIST SENIOR SERVICES, INC. (MMSS). THE EXECUTIVE COMMITTEE OF MMSS' BOARD OF DIRECTORS SERVES AS A COMPENSATION COMMITTEE. THEY REVIEW COMPENSATION STUDIES AVAILABLE FOR SIMILAR ORGANIZATIONS THROUGH LEADING AGE AND CEMO. THE COMPENSATION COMMITTEE WORKS WITH A CONSULTANT TO UPDATE COMPENSATION AT LEAST ONCE EVERY 3 YEARS. THE COMMITTEE USES THE LEADING AGE AND CEMO COMPENSATION STUDIES ANNUALLY. THE COMPENSATION COMMITTEE WORKS TO MAINTAIN COMPENSATION IN THE 60TH PERCENTILE OF THE MARKET. THIS COMMITTEE APPROVES ANY CHANGE MADE TO THE CEO SALARY PACKAGE BASED ON THIS PHILOSOPHY.

PART I, LINE 4B

THE PLAN WAS PUT IN PLACE MAY OF 2020. AT THAT TIME, WE RECOGNIZED 27 YEARS OF SERVICE AS EXPENSE/LIABILITY FOR THE CEO. IF HE IS EMPLOYED UNTIL MARCH 1, 2025, HE IS ENTITLED TO START RECEIVING THE BENEFITS. IF HE WERE TO BECOME DISABLED AND REMAINED LIVING AS OF APRIL 1, 2025, HE IS ENTITLED TO THE BENEFITS BASED ON NUMBER OF YEARS SERVED. IF DECEASED, HIS BENEFICIARIES WOULD BENEFIT BASED ON THE NUMBER OF YEARS SERVED. IF TERMINATED FOR CAUSE PRIOR TO MARCH 1, 2025, HE IS NOT ENTITLED TO ANY BENEFITS. THE DEFERRED COMPENSATION IS LISTED ON BOTH PART VII AND SCHEDULE J UNDER DEFERRED COMPENSATION.