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← SENIOR OPTIONS COMMUNITY

Form 990 for tax year 2022

Filed by SENIOR OPTIONS COMMUNITY.

Totals

Total revenue
$4,836,201
Total expenses
$5,494,315
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$4,836,051
Investment income
$0
Other revenue
$150
Total assets, end of year
$68,611,456
Total liabilities, end of year
$69,474,316
Net assets or fund balances, end of year
-$862,860
Program services expenses (Part IX)
$4,285,461
Management and general expenses
$1,208,854
Fundraising expenses
$0
Program service expenses (Part III)
$4,285,461

Program services were 78.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • RICHARD C BURROUGHS

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • LISA B SMITH

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • RON RIPLEY

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • J BENJAMIN UNKLE JR

    PRESIDENT/CEO

    Total calculated
    $675,350
    From this org
    $0
    From related orgs
    $642,844
    Other
    $32,506
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $407,914 related
    Bonus
    $0 + $169,250 related
    Other
    $0 + $65,680 related
    Deferred
    $0 + $11,267 related
    Nontaxable benefits
    $0 + $21,239 related
    Filer's total
    $0 + $675,350 related

  • DAVID MYERS

    CFO/ASSISTNANT TREASURER

    Total calculated
    $284,835
    From this org
    $0
    From related orgs
    $268,580
    Other
    $16,255
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $229,367 related
    Bonus
    $0 + $36,071 related
    Other
    $0 + $3,142 related
    Deferred
    $0 + $10,618 related
    Nontaxable benefits
    $0 + $5,637 related
    Filer's total
    $0 + $284,835 related

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

  • 4b · Supplemental nonqualified retirement plan
  • 5b · Pay contingent on a related organization's revenues
  • 6b · Pay contingent on a related organization's net earnings

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 1B
APPROVED EXPENSE REPORT ALONG WITH SUPPORTING RECEIPTS MUST BE SUBMITTED PRIOR TO REIMBURSEMENT.
PART I, LINE 3
THE POLICY OF THE ORGANIZATION IS TO SET COMPENSATION AT MARKET PAY FOR ALL EMPLOYEES WHO ARE FULLY COMPETENT IN THEIR POSITIONS. MARKET PAY IS DETERMINED BY INDEPENDENT, OUTSIDE EXPERTS. ADDITIONALLY, A SUBSTANTIAL PORTION OF THE PRESIDENT AND CEO'S COMPENSATION IS AT-RISK PAY LINKED TO SPECIFIC GOALS AND RESULTS. ADDITIONALLY, THE BOARD PROVIDES A SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN (SERP) FOR THE CEO CONTINGENT IN PART UPON LONGEVITY OF EMPLOYMENT TO ENCOURAGE RETENTION. TO DETERMINE COMPENSATION FOR THE PRESIDENT AND CEO, THE BOARD'S EXECUTIVE COMMITTEE, ACTING AS A PERSONNEL COMMITTEE, ENGAGES AN INDEPENDENT CONSULTANT WHO SPECIALIZES IN EXECUTIVE COMPENSATION. THE INDEPENDENT CONSULTANT PROVIDES THE EXECUTIVE COMMITTEE COMPENSATION DATA REPRESENTING COMPARABLE POSITIONS IN ORGANIZATIONS OF SIMILAR INDUSTRIES WITH SIMILAR REVENUE AND BUDGET SIZE. THE EXECUTIVE COMMITTEE USES THIS INFORMATION AND THE RECOMMENDATIONS OF THE INDEPENDENT CONSULTANT AS THE BASIS FOR SETTING COMPENSATION.
PART I, LINE 4B
INCLUDED IN THE COMPENSATION OF J. BENJAMIN UNKLE, JR. IS $68,169 FROM A SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN (SERP). FOR DETAILS OF HOW THE ORGANIZATION SETS COMPENSATION, PLEASE SEE THE DESCRIPTION IN THE NOTE FOR PART I, LINE 3.
PART I, LINE 5
SOME OF THE MANAGEMENT STAFF'S BONUSES ARE CONTINGENT ON HITTING CERTAIN TARGETED REVENUE AMOUNTS.
PART I, LINE 6
SOME OF THE MANAGEMENT STAFF'S COMPENSATION IS AT-RISK PAY DRIVEN BY A BALANCED SCORECARD TO INCLUDE FINANCIAL PERFORMANCE, QUALITY METRICS, AND SATISFACTION OF CONSTITUENTS SERVED IN ACHIEVING OUR MISSION.

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.

Related corporations and trusts

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

Provenance

Return type
form_990
Tax year
2022
Filed
13 August 2024
IRS schema version
2022v5.0
Source object
202442279349303669

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