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Nonprofiteer
← HEALTH SYSTEMS REAL ESTATE INC

Form 990 for tax year 2023

Filed by HEALTH SYSTEMS REAL ESTATE INC.

Totals

Total revenue
$25,502,896
Total expenses
$13,666,078
Contributions and grants received
$8,518,492
Grants paid
$1,033,665
Program service revenue
$16,443,448
Investment income
$540,956
Other revenue
$0
Total assets, end of year
$156,752,808
Total liabilities, end of year
$25,615,864
Net assets or fund balances, end of year
$131,136,944
Program services expenses (Part IX)
$13,666,078
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$13,666,078

Program services were 100.0% 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.

  • 1d · Related organizations

    $8,488,790

  • 1e · Government grants (contributions)

    $29,702

  • 1g · Noncash contributions included above

    $8,488,790

  • 2a · Program service revenue: LEASE INCOME

    total $15,183,317 · related or exempt $15,183,317

  • 2b · Program service revenue: FACILITY DEVELOPMENT FEES

    total $1,235,100 · related or exempt $1,235,100

  • 2c · Program service revenue: OTHER

    total $25,031 · related or exempt $25,031

  • 3 · Investment income

    total $2,117 · excluded $2,117

  • 7a · Gross sales of assets other than inventory

    other assets $1,250,000

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

    other assets $711,161

  • 7c · Gain or loss

    other assets $538,839

  • 7d · Net gain or loss

    total $538,839 · related or exempt $538,839

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,033,665 · program services $1,033,665

  • 5 · Compensation of officers, directors and key employees

    total $584,290 · program services $584,290

  • 7 · Other salaries and wages

    total $944,060 · program services $944,060

  • 8 · Pension plan contributions

    total $52,673 · program services $52,673

  • 9 · Other employee benefits

    total $149,672 · program services $149,672

  • 10 · Payroll taxes

    total $108,796 · program services $108,796

  • 11b · Fees: legal

    total $74,049 · program services $74,049

  • 11c · Fees: accounting

    total $22,000 · program services $22,000

  • 16 · Occupancy

    total $37,171 · program services $37,171

  • 20 · Interest

    total $1,766,507 · program services $1,766,507

  • 22 · Depreciation, depletion and amortization

    total $7,715,917 · program services $7,715,917

  • 23 · Insurance

    total $33,700 · program services $33,700

  • 24a · Other expenses: SUPPORT SERVICE FEES

    total $426,046 · program services $426,046

  • 24b · Other expenses: TRAVEL

    total $315,239 · program services $315,239

  • 24c · Other expenses: CONTRACTED SERVICES

    total $165,547 · program services $165,547

  • 24d · Other expenses: OTHER ADMINISTRATIVE

    total $84,731 · program services $84,731

  • 24e · All other expenses

    total $152,015 · program services $152,015

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $539,643

  • 4 · Accounts receivable

    beginning of year $320,910 · end of year $42,763

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

    $197,894,518

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

    $55,451,649

  • 10c · Land, buildings and equipment, net

    beginning of year $132,403,268 · end of year $142,442,869

  • 14 · Intangible assets

    beginning of year $13,898,078 · end of year $10,972,356

  • 15 · Other assets

    beginning of year $3,321,890 · end of year $3,294,820

  • 17 · Accounts payable and accrued expenses

    beginning of year $220,001 · end of year $163,779

  • 20 · Tax-exempt bond liabilities

    beginning of year $6,808,000 · end of year $6,184,000

  • 23 · Secured mortgages and notes payable

    beginning of year $24,155,662 · end of year $19,268,085

  • 27 · Net assets without donor restrictions

    beginning of year $119,300,126 · end of year $131,136,944

Mission and programs · 2023

Mission

THE ORGANIZATION IS ORGANIZED TO PROVIDE FOR (I) THE ACQUISITION, FINANCING, LEASING, MAINTENANCE AND OWNERSHIP OF SKILLED NURSING FACILITIES, PERSONAL CARE HOMES, ASSISTED LIVING FACILITIES, CONGREGATE CARE FACILITIES, OTHER TYPES OF SENIOR LIVING AND HOUSING FACILITIES AND OTHER TYPES OF INPATIENT OR OUTPATIENT FACILITIES TO PROVIDE THE FACILITIES THROUGH WHICH HEALTHCARE SERVICES AND RELATED SERVICES MAY BE CONDUCTED BY MEMBERS OF THE COMMUNITY HEALTH SYSTEMS, INC. (CHSI) INTEGRATED HEALTHCARE DELIVERY SYSTEM (IHDS); (II) TO THE EXTENT DETERMINED APPROPRIATE OR NECESSARY, THE LEASING AND SUBLEASING OF SUCH FACILITIES TO ONE OR MORE MEMBERS OF THE CHSI IHDS, BUT NOT TO THIRD PARTIES, AND (III) THE USE OF THE ORGANIZATION'S LEASED OR OWNED UNIMPROVED REAL ESTATE OR IMPROVED REAL ESTATE IN LIMITED LIABILITY COMPANY, GROUND LEASE, PARNTERSHIP OR OTHER ARRANGEMENTS TO PROVIDE TEH CHSI IHDS (BUT NO THIRD PARTIES) WITH TEH USE OF EITHER THE APPLICABLE UNIMPROVED REAL ESTATE AND/OR REAL EST

Activities or mission (Part I)

TO FINANCE, ACQUIRE, LEASE, MAINTAIN AND OWN SKILLED NURSING FACILITIES AND OTHER REAL ESTATE AS PART OF AN INTEGRATED HEALTH CARE DELIVERY SYSTEM.

  • FINANCE, ACQUIRE, LEASE, MAINTAIN AND OWN REAL ESTATE TO BE USED BY MEMBERS OF THE CHSI INTEGRATED HEALTHCARE DELIVERY SYSTEM TO CARRY OUT THEIR RESPECTIVE CHARITABLE PURPOSES.

    Expenses $13,666,078 · Grants $1,033,665 · Revenue $16,443,448

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

Listed in Part VII

  • Ronnie Rollins

    PRESIDENT, D

    Total calculated
    $865,772
    From this org
    $0
    From related orgs
    $838,426
    Other
    $27,346
    Hours/week
    4 + 40 related

    Schedule J breakdown matched by us

    Base
    not reported + $827,226 related
    Bonus
    not reported
    Other
    not reported + $11,200 related
    Deferred
    not reported
    Nontaxable benefits
    not reported + $27,346 related
    Filer's total
    not reported + $865,772 related

  • Lorraine T Taylor

    SECRETARY

    Total calculated
    $772,066
    From this org
    $0
    From related orgs
    $746,111
    Other
    $25,955
    Hours/week
    4 + 40 related

    Schedule J breakdown matched by us

    Base
    not reported + $731,339 related
    Bonus
    not reported
    Other
    not reported + $14,772 related
    Deferred
    not reported
    Nontaxable benefits
    not reported + $25,955 related
    Filer's total
    not reported + $772,066 related

  • Edward S Nelson

    SENIOR VP

    Total calculated
    $271,750
    From this org
    $250,655
    From related orgs
    $0
    Other
    $21,095
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $236,906
    Bonus
    not reported
    Other
    $13,749
    Deferred
    not reported
    Nontaxable benefits
    $21,095
    Filer's total
    $271,750

  • Teresa Moody

    PRESIDENT

    Total calculated
    $239,629
    From this org
    $0
    From related orgs
    $218,787
    Other
    $20,842
    Hours/week
    0 + 40 related

    Schedule J breakdown matched by us

    Base
    not reported + $206,686 related
    Bonus
    not reported
    Other
    not reported + $12,101 related
    Deferred
    not reported
    Nontaxable benefits
    not reported + $20,842 related
    Filer's total
    not reported + $239,629 related

  • Stephen Bush

    VP- ENGINEER

    Total calculated
    $178,756
    From this org
    $162,131
    From related orgs
    $0
    Other
    $16,625
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $148,829
    Bonus
    not reported
    Other
    $13,302
    Deferred
    not reported
    Nontaxable benefits
    $16,625
    Filer's total
    $178,756

  • Laura Kennedy

    VICEPRESIDEN

    Total calculated
    $133,783
    From this org
    $116,930
    From related orgs
    $0
    Other
    $16,853
    Hours/week
    40

  • Paul A Cable

    DIRECTOR

    Total calculated
    $24,000
    From this org
    $0
    From related orgs
    $24,000
    Other
    $0
    Hours/week
    4 + 1 related

  • Joseph A Wall

    CHAIRMAN

    Total calculated
    $24,000
    From this org
    $0
    From related orgs
    $24,000
    Other
    $0
    Hours/week
    4 + 1 related

  • Kathryn Dennis

    DIRECTOR

    Total calculated
    $24,000
    From this org
    $0
    From related orgs
    $24,000
    Other
    $0
    Hours/week
    0 + 4 related

    Schedule J breakdown matched by us

    Base
    not reported + $24,000 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    not reported + $24,000 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

  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

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
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

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

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • BARTOW COUNTY HOLDINGS LLC

    REAL ESTAT · GA · income $630,924 · assets $2,318,752

    Directly controlled by NA

  • BIBB COUNTY HOLDINGS II LLC

    REAL ESTAT · GA · assets $6,752,634

    Directly controlled by NA

  • BIBB COUNTY LTC LLC

    REAL ESTAT · GA · assets $2,804,459

    Directly controlled by NA

  • BULLOCH COUNTY HOLDINGS LLC

    REAL ESTAT · GA · income $271,668 · assets $4,311,177

    Directly controlled by NA

  • COWETA COUNTY HOLDINGS LLC

    REAL ESTAT · GA · income $349,848 · assets $2,582,977

    Directly controlled by NA

  • COWETA COUNTY LTC LLC

    REAL ESTAT · GA · income $869,412 · assets $11,538,036

    Directly controlled by NA

  • DEKALB COUNTY HOLDINGS LLC

    REAL ESTAT · GA

    Directly controlled by NA

  • DISTRIBUTION WAREHOUSE

    REAL ESTAT · GA · income $174,612 · assets $280,672

    Directly controlled by NA

  • DOUGHERTY COUNTY HOLDINGS II LLC

    REAL ESTAT · GA

    Directly controlled by NA

  • DOUGHERTY COUNTY HOLDINGS LLC

    REAL ESTAT · GA · income $1,593,384 · assets $11,376,127

    Directly controlled by NA

  • FLOYD COUNTY HOLDINGS LLC

    REAL ESTAT · GA · income $426,324 · assets $2,860,748

    Directly controlled by NA

  • FRANKLIN COUNTY HOLDINGS LLC

    REAL ESTAT · GA · income $654,816 · assets $3,624,606

    Directly controlled by NA

  • GREENE COUNTY LTC LLC

    REAL ESTAT · GA · income $219,552 · assets $3,266,292

    Directly controlled by NA

  • HANCOCK COUNTY HOLDINGS LLC

    REAL ESTAT · GA · income $275,256 · assets $497,045

    Directly controlled by NA

  • HART COUNTY HOLDINGS II LLC

    REAL ESTAT · GA · assets $2,278,998

    Directly controlled by NA

  • HART COUNTY HOLDINGS LLC

    REAL ESTAT · GA · income $310,620 · assets $3,030,066

    Directly controlled by NA

  • HEALTH CARE RE HOLDINGS LLC

    REAL ESTAT · GA · income $768,252 · assets $7,376,331

    Directly controlled by NA

  • HEALTH SYSTEMS DEVELOPMENT

    REAL ESTAT · GA · income $1,264,833 · assets $45,441

    Directly controlled by NA

  • JACKSON COUNTY HC HOLDINGS LLC

    REAL ESTAT · GA · income $969,180 · assets $8,003,731

    Directly controlled by NA

  • LEE COUNTY HOLDINGS LLC

    REAL ESTAT · GA · income $297,408 · assets $6,069,719

    Directly controlled by NA

  • LUMPKIN COUNTY HOLDINGS LLC

    REAL ESTAT · GA · income $25,000 · assets $2,459,701

    Directly controlled by NA

  • MACON COUNTY PROPERTIES LLC

    REAL ESTAT · GA · income $379,236 · assets $2,101,887

    Directly controlled by NA

  • MADISON COUNTY HOLDINGS LLC

    REAL ESTAT · GA · income $392,916 · assets $2,955,963

    Directly controlled by NA

  • NEWNAN LTC LLC

    REAL ESTAT · GA · income $505,632 · assets $4,016,963

    Directly controlled by NA

  • OCONEE COUNTY HOLDINGS II LLC

    REAL ESTAT · GA · assets $227,650

    Directly controlled by NA

  • OCONEE COUNTY HOLDINGS LLC

    REAL ESTAT · GA · income $596,040 · assets $4,580,033

    Directly controlled by NA

  • PUTNAM COUNTY HOLDINGS LLC

    REAL ESTAT · GA · income $366,696 · assets $5,331,500

    Directly controlled by NA

  • RICHMOND COUNTY HOLDINGS II LLC

    REAL ESTAT · GA · income $755,340 · assets $9,366,900

    Directly controlled by NA

  • RICHMOND COUNTY HOLDINGS LLC

    REAL ESTAT · GA · income $7,500 · assets $1,207,627

    Directly controlled by NA

  • RICHMOND COUNTY LTC LLC

    REAL ESTAT · GA · income $473,544 · assets $3,580,815

    Directly controlled by NA

  • TERRELL COUNTY HOLDINGS LLC

    REAL ESTAT · GA · income $275,508 · assets $3,880,609

    Directly controlled by NA

  • TOOMBS COUNTY HOLDINGS LLC

    REAL ESTAT · GA · income $570,540 · assets $8,650,165

    Directly controlled by NA

  • TOOMBS COUNTY LTC LLC

    REAL ESTAT · GA · income $795,516 · assets $8,444,013

    Directly controlled by NA

  • UPSON PROPERTIES LLC

    REAL ESTAT · GA · income $276,576 · assets $1,397,155

    Directly controlled by NA

  • ZEBULON ROAD HOLDINGS LLC

    REAL ESTAT · GA · assets $1,119,447

    Directly controlled by NA

  • ZEBULON ROAD PROPERTIES LLC

    REAL ESTAT · GA · income $761,724 · assets $9,040,215

    Directly controlled by NA

Related corporations and trusts

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

  • COMMUNITY HEALTH VENTURES INC

    RISK MGMT. · GA

Provenance

Return type
form_990
Tax year
2023
Filed
13 May 2025
IRS schema version
2023v6.0
Source object
202541349349307089

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