Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $83,727

• 1e · Government grants (contributions)

  $7,235

• 1f · All other contributions, gifts and grants

  $848,860

• 1g · Noncash contributions included above

  $10,699

• 2a · Program service revenue: NET RESIDENT SERVICE REVENUE

  total $51,097,465 · related or exempt $51,097,465

• 3 · Investment income

  total $1,445,284 · excluded $1,445,284

• 6a · Gross rents

  real property $1,558,115

• 6b · Less rental expenses

  real property $617,807

• 6c · Rental income or loss

  real property $940,308

• 6d · Net rental income or loss

  total $940,308 · excluded $940,308

• 7a · Gross sales of assets other than inventory

  securities $6,172,749 · other assets $118,706

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

  securities $5,910,083 · other assets $678,754

• 7c · Gain or loss

  securities $262,666 · other assets -$560,048

• 7d · Net gain or loss

  total -$297,382 · excluded -$297,382

• 8a · Fundraising events: gross income

  $110,739

• 8a · Fundraising events: contributions included on line 1c

  $83,727

• 8b · Fundraising events: direct expenses

  $110,891

• 8c · Net income from fundraising events

  total -$152 · excluded -$152

• 10a · Gross sales of inventory

  $170,814

• 10b · Cost of goods sold

  $52,059

• 10c · Net income from sales of inventory

  total $118,755 · excluded $118,755

• 11a · Other revenue: MEALS

  total $267,890 · excluded $267,890

• 11b · Other revenue: ADVERTISING

  total $46,281 · unrelated business $46,281

• 11c · Other revenue: GUEST ROOM

  total $41,907 · excluded $41,907

• 11d · All other revenue

  total $100,222 · excluded $100,222

• 11e · Other revenue, total

  $456,300

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $1,301,271 · program services $1,301,271

• 7 · Other salaries and wages

  total $16,072,884 · program services $15,782,149 · management and general $50,776 · fundraising $239,959

• 8 · Pension plan contributions

  total $488,693 · program services $477,032 · management and general $2,993 · fundraising $8,668

• 9 · Other employee benefits

  total $1,965,061 · program services $1,934,113 · fundraising $30,948

• 10 · Payroll taxes

  total $1,194,305 · program services $1,165,036 · management and general $11,562 · fundraising $17,707

• 11a · Fees: management

  total $3,553,140 · program services $2,487 · management and general $3,550,653

• 11b · Fees: legal

  total $37,803 · program services $25,828 · management and general $11,975

• 11c · Fees: accounting

  total $6,750 · management and general $6,750

• 11d · Fees: lobbying

  total $36,826 · management and general $36,826

• 11f · Fees: investment management

  total $63,113 · management and general $63,113

• 11g · Fees: other

  total $3,011,885 · program services $2,930,941 · management and general $80,944

• 12 · Advertising and promotion

  total $501,892 · program services $480,754 · management and general $21,138

• 13 · Office expenses

  total $532,776 · program services $260,830 · management and general $261,924 · fundraising $10,022

• 14 · Information technology

  total $1,851,106 · program services $147,184 · management and general $1,694,597 · fundraising $9,325

• 16 · Occupancy

  total $2,915,366 · program services $2,872,508 · management and general $42,858

• 17 · Travel

  total $88,136 · program services $30,395 · management and general $57,741

• 20 · Interest

  total $2,644,579 · program services $2,644,579

• 22 · Depreciation, depletion and amortization

  total $8,259,508 · program services $8,259,508

• 23 · Insurance

  total $543,147 · management and general $543,147

• 24a · Other expenses: FOOD

  total $2,282,114 · program services $2,269,473 · management and general $12,626 · fundraising $15

• 24b · Other expenses: MEDICAL EXPENSES

  total $1,447,196 · program services $1,434,554 · management and general $12,642

• 24c · Other expenses: MAINTENANCE & REPAIRS

  total $477,209 · program services $477,209

• 24d · Other expenses: EMPLOYEE EXPENSES

  total $465,088 · program services $64,354 · management and general $400,734

• 24e · All other expenses

  total $1,323,655 · program services $851,232 · management and general $467,228 · fundraising $5,195

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $2,683,939 · end of year $3,048,105

• 2 · Savings and temporary cash investments

  beginning of year $7,607,599 · end of year $8,539,215

• 4 · Accounts receivable

  beginning of year $1,514,850 · end of year $1,460,738

• 8 · Inventories for sale or use

  beginning of year $141,593 · end of year $144,369

• 9 · Prepaid expenses and deferred charges

  beginning of year $899,490 · end of year $2,369,408

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

  $243,004,278

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

  $116,072,324

• 10c · Land, buildings and equipment, net

  beginning of year $123,754,788 · end of year $126,931,954

• 11 · Investments: publicly traded securities

  beginning of year $36,101,817 · end of year $50,963,688

• 15 · Other assets

  beginning of year $11,482,412 · end of year $9,052,522

• 17 · Accounts payable and accrued expenses

  beginning of year $4,160,108 · end of year $5,601,645

• 19 · Deferred revenue

  beginning of year $77,058,331 · end of year $77,296,751

• 20 · Tax-exempt bond liabilities

  beginning of year $54,796,761 · end of year $67,606,826

• 21 · Escrow or custodial account liability

  beginning of year $2,600,872 · end of year $1,893,287

• 23 · Secured mortgages and notes payable

  beginning of year $889,420 · end of year $0

• 25 · Other liabilities

  beginning of year $7,751,801 · end of year $8,857,289

• 27 · Net assets without donor restrictions

  beginning of year $36,540,894 · end of year $41,119,789

• 28 · Net assets with donor restrictions

  beginning of year $388,301 · end of year $134,412

The filer's explanations (Part III)

PART I, LINE 3

THE EXECUTIVE COMMITTEE OF THE RELATED ENTITY GARDEN SPOT COMMUNITIES APPROVES ALL SALARIES FOR OFFICERS AND TOP MANAGEMENT. SALARIES ARE DETERMINED BASED ON REVIEW OF AN ANNUAL SURVEY PROVIDED BY A TRADE ASSOCIATION, TO ENSURE COMPENSATION DOES NOT EXCEED FAIR MARKET VALUE. COMPENSATION REVIEW IS DOCUMENTED IN THE MINUTES OF THE EXECUTIVE COMMITTEE MEETING.

Disregarded entities

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

• GSV LLC

  LEASE A BUILDING FOR USE AS MEDICAL OFFICES · PA · income $1,516,615 · assets $17,024,064

  Directly controlled by GARDEN SPOT VILLAGE