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Nonprofiteer
← SAMARITAN HOUSING FOUNDATION INC

Form 990 for tax year 2024

Filed by SAMARITAN HOUSING FOUNDATION INC.

Totals

Total revenue
$27,836,580
Total expenses
$32,815,986
Contributions and grants received
$105,418
Grants paid
$1,198,155
Program service revenue
$23,696,911
Investment income
$4,026,151
Other revenue
$8,100
Total assets, end of year
$325,212,213
Total liabilities, end of year
$425,575,075
Net assets or fund balances, end of year
-$100,362,862
Program services expenses (Part IX)
$28,462,784
Management and general expenses
$4,353,202
Fundraising expenses
$0
Program service expenses (Part III)
$28,462,784

Program services were 86.7% 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

    $105,418

  • 2a · Program service revenue: Resident Fees

    total $19,024,099 · related or exempt $19,024,099

  • 2b · Program service revenue: Amortization of Entrance Fee

    total $2,847,592 · related or exempt $2,847,592

  • 2c · Program service revenue: Resident Meals

    total $1,514,193 · related or exempt $1,514,193

  • 2d · Program service revenue: Resident Services

    total $311,027 · related or exempt $311,027

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $3,199,022 · excluded $3,199,022

  • 6a · Gross rents

    real property $8,100

  • 6c · Rental income or loss

    real property $8,100 · personal property $0

  • 6d · Net rental income or loss

    total $8,100 · excluded $8,100

  • 7a · Gross sales of assets other than inventory

    securities $20,440,781

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

    securities $19,613,652

  • 7c · Gain or loss

    securities $827,129 · other assets $0

  • 7d · Net gain or loss

    total $827,129 · excluded $827,129

  • 8c · Net income from fundraising events

    total $0

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,198,155 · program services $1,198,155

  • 5 · Compensation of officers, directors and key employees

    total $825,518 · management and general $825,518

  • 7 · Other salaries and wages

    total $5,355,393 · program services $5,355,393

  • 8 · Pension plan contributions

    total $68,212 · program services $54,570 · management and general $13,642

  • 9 · Other employee benefits

    total $718,732 · program services $574,986 · management and general $143,746

  • 10 · Payroll taxes

    total $514,630 · program services $411,704 · management and general $102,926

  • 11a · Fees: management

    total $615,858 · management and general $615,858

  • 11b · Fees: legal

    total $961,234 · management and general $961,234

  • 11c · Fees: accounting

    total $97,575 · management and general $97,575

  • 11f · Fees: investment management

    total $42,286 · management and general $42,286

  • 11g · Fees: other

    total $1,848,700 · program services $1,478,960 · management and general $369,740 · fundraising $0

  • 12 · Advertising and promotion

    total $541,769 · management and general $541,769

  • 13 · Office expenses

    total $1,187,935 · program services $950,348 · management and general $237,587

  • 14 · Information technology

    total $286,414 · program services $229,131 · management and general $57,283

  • 16 · Occupancy

    total $1,221,242 · program services $976,994 · management and general $244,248

  • 17 · Travel

    total $168,326 · program services $134,661 · management and general $33,665

  • 19 · Conferences, conventions and meetings

    total $36,544 · program services $29,235 · management and general $7,309

  • 20 · Interest

    total $8,895,049 · program services $8,895,049

  • 22 · Depreciation, depletion and amortization

    total $6,292,123 · program services $6,292,123

  • 23 · Insurance

    total $511,622 · program services $511,622

  • 24a · Other expenses: Food and Beverage

    total $1,134,590 · program services $1,134,590

  • 24b · Other expenses: Other Costs

    total $294,079 · program services $235,263 · management and general $58,816

  • 24e · All other expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $809,979 · end of year $3,051,140

  • 4 · Accounts receivable

    beginning of year $541,330 · end of year $271,436

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $236,526 · end of year $291,002

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

    $290,346,486

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

    $37,269,754

  • 10c · Land, buildings and equipment, net

    beginning of year $238,688,778 · end of year $253,076,732

  • 11 · Investments: publicly traded securities

    beginning of year $71,279,232 · end of year $62,489,540

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $6,306,775 · end of year $6,032,363

  • 17 · Accounts payable and accrued expenses

    beginning of year $15,063,896 · end of year $13,566,528

  • 19 · Deferred revenue

    beginning of year $12,265,678 · end of year $31,874,942

  • 20 · Tax-exempt bond liabilities

    beginning of year $265,148,738 · end of year $189,777,271

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $120,171,646 · end of year $190,356,334

  • 27 · Net assets without donor restrictions

    beginning of year -$95,268,260 · end of year -$100,943,202

  • 28 · Net assets with donor restrictions

    beginning of year $480,922 · end of year $580,340

Mission and programs · 2024

Mission

LIFE CARE FOR RESIDENTS OF SIXTY-TWO PLUS (62+) YEARS OF AGE, WHILE EMPHASIZING AN ACTIVE LIFESTYLE, INDIVIDUAL INDEPENDENCE, PERSONAL DIGNITY, DESIGNED TO MEET THEIR SPECIAL NEEDS FOR HOUSING, HEALTHCARE, AND FINANCIAL SECURITY.

  • Searstone Retirement Community is made up of 318 living units for 489 people and 49 beds of skilled nursing care, 29 for assisted living and 14 for memory care. Services such as meals, housekeeping, maintenance, activities, transportation, and nursing services are available. We offer physical, occupational and speech therapy for those residents who can benefit from these programs. We have a food service program which provides meals to residents, their guests and our staff. Activities are offered in each level of care depending on the level of activities suitable for that level of care, from going out to public programs such as theater productions to symphonies, or having in-house events comprised of theme parties and games. Our nursing services cover the entire campus and range from emergency nursing services to 24-hour nursing services.

    Expenses $28,462,784 · Grants $1,198,155 · Revenue $23,696,911

As filed on the 2024 return.

Listed in Part VII

  • STANLEY G BRADING

    PRESIDENT

    Total calculated
    $288,544
    From this org
    $286,072
    From related orgs
    $0
    Other
    $2,472
    Hours/week
    25

    Schedule J breakdown matched by us

    Base
    $286,072
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $2,472
    Filer's total
    $288,544

  • CHARLES NORMAN

    DIRECTOR

    Total calculated
    $8,000
    From this org
    $8,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • DARRYL MILLS

    SPECIAL ADVISOR

    Total calculated
    $5,950
    From this org
    $5,950
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • JAMES PIERCE

    DIRECTOR

    Total calculated
    $10,334
    From this org
    $10,334
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • LINDA COLEMAN

    DIRECTOR

    Total calculated
    $9,300
    From this org
    $9,300
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • MACK LEATH

    DIRECTOR

    Total calculated
    $9,000
    From this org
    $9,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • MARK HEWITT

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • ROGER HEISER

    SPECIAL ADVISOR

    Total calculated
    $0
    Hours/week
    2

  • TOM BEEBE

    DIRECTOR

    Total calculated
    $10,000
    From this org
    $10,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • KENNETH L BULLOCK

    CFO

    Total calculated
    $232,223
    From this org
    $206,573
    From related orgs
    $0
    Other
    $25,650
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $181,573
    Bonus
    $25,000
    Other
    $0
    Deferred
    $8,910
    Nontaxable benefits
    $16,740
    Filer's total
    $232,223

  • MATTHEW T TOWLER

    EXECUTIVE DIRECTOR

    Total calculated
    $46,953
    From this org
    $43,886
    From related orgs
    $0
    Other
    $3,067
    Hours/week
    40

  • W DERRICK MOORE

    FORMER EXECUTIVE DIRECTOR

    Total calculated
    $298,195
    From this org
    $288,987
    From related orgs
    $0
    Other
    $9,208
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $248,987
    Bonus
    $40,000
    Other
    $0
    Deferred
    $6,165
    Nontaxable benefits
    $3,043
    Filer's total
    $298,195

  • ALLIE LIGAY

    DIRECTOR OF MARKETING

    Total calculated
    $222,550
    From this org
    $212,284
    From related orgs
    $0
    Other
    $10,266
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $83,134
    Bonus
    $129,150
    Other
    $0
    Deferred
    $7,412
    Nontaxable benefits
    $2,854
    Filer's total
    $222,550

  • SCOTT EVANS

    ENVIRONMENTAL SERVICE DIRECTOR

    Total calculated
    $121,044
    From this org
    $101,928
    From related orgs
    $0
    Other
    $19,116
    Hours/week
    40

  • SIVAPRASAD PARNAM

    NURSING HOME ADMINISTRATOR

    Total calculated
    $131,746
    From this org
    $123,490
    From related orgs
    $0
    Other
    $8,256
    Hours/week
    40

  • SUE COTTON

    SALES MANAGER

    Total calculated
    $163,258
    From this org
    $153,159
    From related orgs
    $0
    Other
    $10,099
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $50,309
    Bonus
    $102,850
    Other
    $0
    Deferred
    $6,254
    Nontaxable benefits
    $3,845
    Filer's total
    $163,258

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 · Written employment contract
  • 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

Provenance

Return type
form_990
Tax year
2024
Filed
10 November 2025
IRS schema version
2024v5.1
Source object
202523149349300232

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