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Nonprofiteer
← LEXINGTON RETIREMENT COMMUNITY INC

Form 990 for tax year 2023

Filed by LEXINGTON RETIREMENT COMMUNITY INC.

Totals

Total revenue
$21,656,710
Total expenses
$19,827,750
Contributions and grants received
$211,050
Grants paid
$53,300
Program service revenue
$19,458,690
Investment income
$1,627,233
Other revenue
$359,737
Total assets, end of year
$113,718,505
Total liabilities, end of year
$94,323,003
Net assets or fund balances, end of year
$19,395,502
Program services expenses (Part IX)
$14,008,017
Management and general expenses
$5,813,277
Fundraising expenses
$6,456
Program service expenses (Part III)
$14,008,017

Program services were 70.6% 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

    $211,050

  • 1g · Noncash contributions included above

    $15,826

  • 2a · Program service revenue: RESIDENTIAL SERVICES REVENUE

    total $9,622,584 · related or exempt $9,622,584

  • 2b · Program service revenue: HEALTH CENTER FEES

    total $5,065,097 · related or exempt $5,065,097

  • 2c · Program service revenue: AMORTIZATION OF DEFERRED ENTRY FE

    total $4,771,009 · related or exempt $4,771,009

  • 3 · Investment income

    total $1,639,294 · excluded $1,639,294

  • 6a · Gross rents

    real property $86,114

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $86,114

  • 6d · Net rental income or loss

    total $86,114 · excluded $86,114

  • 7a · Gross sales of assets other than inventory

    securities $2,261,363 · other assets $51,545

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

    securities $2,263,122 · other assets $61,847

  • 7c · Gain or loss

    securities -$1,759 · other assets -$10,302

  • 7d · Net gain or loss

    total -$12,061 · excluded -$12,061

  • 11a · Other revenue: FOOD SERVICES

    total $175,380 · related or exempt $175,380

  • 11b · Other revenue: ANCILLARY SERVICES

    total $79,278 · related or exempt $79,278

  • 11d · All other revenue

    total $18,965 · excluded $18,965

  • 11e · Other revenue, total

    $273,623

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $5,000 · program services $5,000

  • 2 · Grants to domestic individuals

    total $48,300 · program services $48,300

  • 5 · Compensation of officers, directors and key employees

    total $449,687 · management and general $449,687

  • 7 · Other salaries and wages

    total $6,261,329 · program services $5,630,676 · management and general $626,276 · fundraising $4,377

  • 8 · Pension plan contributions

    total $297,887 · program services $271,376 · management and general $26,511

  • 9 · Other employee benefits

    total $1,102,864 · program services $955,784 · management and general $147,080

  • 10 · Payroll taxes

    total $480,502 · program services $406,445 · management and general $74,057

  • 11a · Fees: management

    total $594,612 · management and general $594,612

  • 11b · Fees: legal

    total $14,928 · management and general $14,928

  • 11c · Fees: accounting

    total $130,072 · management and general $130,072

  • 11g · Fees: other

    total $1,664,665 · program services $1,223,045 · management and general $441,620

  • 12 · Advertising and promotion

    total $106,163 · program services $89,801 · management and general $16,362

  • 13 · Office expenses

    total $1,698,524 · program services $1,436,570 · management and general $261,754 · fundraising $200

  • 14 · Information technology

    total $346,446 · program services $500 · management and general $344,267 · fundraising $1,679

  • 16 · Occupancy

    total $1,040,070 · program services $879,769 · management and general $160,301

  • 17 · Travel

    total $21,769 · program services $18,414 · management and general $3,355

  • 19 · Conferences, conventions and meetings

    total $22,880 · program services $19,354 · management and general $3,526

  • 20 · Interest

    total $1,559,896 · management and general $1,559,896

  • 22 · Depreciation, depletion and amortization

    total $3,468,034 · program services $2,933,522 · management and general $534,512

  • 23 · Insurance

    total $346,408 · management and general $346,408

  • 24a · Other expenses: BAD DEBT EXPENSE

    total $61,748 · management and general $61,748

  • 24b · Other expenses: REPAIRS AND MAINTENANCE

    total $49,123 · program services $41,552 · management and general $7,571

  • 24c · Other expenses: PRINTING, BOOKS, & PERI

    total $27,731 · program services $23,457 · management and general $4,274

  • 24d · Other expenses: DUES, LICENSES & FEES

    total $20,717 · program services $17,355 · management and general $3,162 · fundraising $200

  • 24e · All other expenses

    total $8,395 · program services $7,097 · management and general $1,298

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $472,213 · end of year $329,176

  • 3 · Pledges and grants receivable

    beginning of year $38,541 · end of year $10,000

  • 4 · Accounts receivable

    beginning of year $1,206,089 · end of year $1,304,312

  • 9 · Prepaid expenses and deferred charges

    beginning of year $541,641 · end of year $442,753

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

    $100,262,693

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

    $39,109,297

  • 10c · Land, buildings and equipment, net

    beginning of year $62,941,313 · end of year $61,153,396

  • 11 · Investments: publicly traded securities

    beginning of year $30,143,928 · end of year $35,795,270

  • 15 · Other assets

    beginning of year $11,731,644 · end of year $14,683,598

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,716,415 · end of year $1,971,350

  • 19 · Deferred revenue

    beginning of year $46,548,830 · end of year $48,394,233

  • 20 · Tax-exempt bond liabilities

    beginning of year $43,115,997 · end of year $41,781,931

  • 21 · Escrow or custodial account liability

    beginning of year $631,657 · end of year $620,060

  • 25 · Other liabilities

    beginning of year $1,258,414 · end of year $1,555,429

  • 27 · Net assets without donor restrictions

    beginning of year $11,965,387 · end of year $17,286,096

  • 28 · Net assets with donor restrictions

    beginning of year $1,838,669 · end of year $2,109,406

Mission and programs · 2023

Mission

KENDAL AT LEXINGTON, A NOT-FOR-PROFIT LIFE PLAN COMMUNITY, GROUNDED IN QUAKER VALUES, PROVIDES OPPORTUNITIES FOR A DIVERSE POPULATION OF OLDER ADULTS FROM THE LEXINGTON, BUENA VISTA, AND ROCKBRIDGE COUNTY, VIRGINIA AREAS AND BEYOND, TO LIVE IN A (CONTINUED ON SCHEDULE O) VIBRANT, CARING COMMUNITY THAT PROMOTES HEALTHFUL AND MEANINGFUL AGING.

Activities or mission (Part I)

PROVIDE SERVICES FOR OLDER PEOPLE LIVING RESIDENTIALLY, IN ASSISTED LIVING & SKILLED NURSING.

  • LEXINGTON RETIREMENT COMMUNITY, INC. OWNS AND OPERATES A LIFE PLAN COMMUNITY WHICH CURRENTLY CONSISTS OF 150 INDEPENDENT LIVING RESIDENCES IN COTTAGES AND APARTMENTS, 19 ASSISTED LIVING APARTMENTS WITH CAPACITY OF 20 RESIDENTS AND A 60 BED SKILLED NURSING FACILITY.

    Expenses $14,008,017 · Grants $53,300 · Revenue $19,458,690

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

Listed in Part VII

  • PAMELA LUECKE

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    10

  • LINDA WILDER

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • BENNETT ROSS

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • KAREN RUSSELL

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • PRISCILLA BAKER

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • HARLAN BECKLEY

    BOARD MEMBER (LEFT MAY 2023)

    Total calculated
    $0
    Hours/week
    1

  • CHRISTOPHER RUSSELL

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • DREWRY SACKETT

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • BRUCE SUMMERS

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • NATASHA WALSH

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • DAVID GRIZZLE

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • RANDOLPH HARE

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • SUSAN WHITSITT

    BOARD MEMBER (LEFT JULY 2023)

    Total calculated
    $0
    Hours/week
    1

  • ELIZABETH BRANNER

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • MARK KEELEY

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • JAMES ADAMS

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • ROBERT HUCH

    BOARD MEMBER (UNTIL 08/23)

    Total calculated
    $0
    Hours/week
    1

  • DAVID ELLINGTON

    BOARD MEMBER (UNTIL 01/23)

    Total calculated
    $0
    Hours/week
    1

  • JAN BIGELOW

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $276,520
    From this org
    $246,723
    From related orgs
    $0
    Other
    $29,797
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $231,723
    Bonus
    $15,000
    Other
    $0
    Deferred
    $14,430
    Nontaxable benefits
    $15,367
    Filer's total
    $276,520

  • FELICIA DIPRONIO BUSH

    CHIEF FINANCIAL OFFICER

    Total calculated
    $173,167
    From this org
    $152,956
    From related orgs
    $0
    Other
    $20,211
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $150,956
    Bonus
    $2,000
    Other
    $0
    Deferred
    $8,506
    Nontaxable benefits
    $11,705
    Filer's total
    $173,167

  • BRANDY HOSTETTER

    DIR. OF NURSING

    Total calculated
    $131,386
    From this org
    $110,427
    From related orgs
    $0
    Other
    $20,959
    Hours/week
    50

  • MEGAN WHORLEY

    HUMAN RESOURCES DIRECTOR

    Total calculated
    $123,118
    From this org
    $103,082
    From related orgs
    $0
    Other
    $20,036
    Hours/week
    50

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

  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 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

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.

Provenance

Return type
form_990
Tax year
2023
Filed
31 May 2024
IRS schema version
2023v5.0
Source object
202401589349300435

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