Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $251,199

• 1d · Related organizations

  $0

• 1e · Government grants (contributions)

  $0

• 1f · All other contributions, gifts and grants

  $2,656,356

• 1g · Noncash contributions included above

  $30,766

• 2f · All other program service revenue

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

• 3 · Investment income

  total $5,440,955 · excluded $5,440,955

• 6c · Rental income or loss

  real property $0 · personal property $0

• 7a · Gross sales of assets other than inventory

  securities $18,749,000

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

  securities $18,085,674

• 7c · Gain or loss

  securities $663,326 · other assets $0

• 7d · Net gain or loss

  total $663,326 · excluded $663,326

• 8a · Fundraising events: gross income

  $71,440

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

  $251,199

• 8b · Fundraising events: direct expenses

  $71,438

• 8c · Net income from fundraising events

  total $2 · excluded $2

• 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 $4,043,458 · program services $4,043,458

• 11a · Fees: management

  total $202,368 · management and general $202,368

• 11f · Fees: investment management

  total $121,854 · management and general $121,854

• 11g · Fees: other

  total $72,795 · program services $0 · management and general $0 · fundraising $72,795

• 13 · Office expenses

  total $4,741 · fundraising $4,741

• 17 · Travel

  total $1,332 · fundraising $1,332

• 24a · Other expenses: Leased Employees

  total $516,503 · fundraising $516,503

• 24b · Other expenses: Donor Cultivation

  total $58,694 · fundraising $58,694

• 24c · Other expenses: Annual Report

  total $35,662 · fundraising $35,662

• 24e · All other expenses

  total $17,526 · program services $0 · management and general $0 · fundraising $17,526

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $2,057,684 · end of year $1,963,740

• 3 · Pledges and grants receivable

  beginning of year $0

• 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

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

  $0

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

  $0

• 10c · Land, buildings and equipment, net

  beginning of year $0 · end of year $0

• 11 · Investments: publicly traded securities

  beginning of year $128,662,451 · end of year $136,281,753

• 12 · Investments: other securities

  beginning of year $0

• 13 · Investments: program-related

  beginning of year $0

• 15 · Other assets

  beginning of year $41,440,966 · end of year $41,632,619

• 17 · Accounts payable and accrued expenses

  beginning of year $104,970 · end of year $121,826

• 22 · Loans and payables to officers and key people

  beginning of year $0 · end of year $0

• 25 · Other liabilities

  beginning of year $508,464 · end of year $677,736

• 27 · Net assets without donor restrictions

  beginning of year $109,024,204 · end of year $118,054,076

• 28 · Net assets with donor restrictions

  beginning of year $62,523,463 · end of year $61,024,474

The filer's explanations (Part III)

Schedule J, Part I, Line 3 Arrangement used to establish the top management official's compensation

THE COMPENSATION COMMITTEE OF PRESBYTERIAN LIVING IS RESPONSIBLE FOR ALL COMPENSATION AND BENEFIT MATTERS FOR SENIOR MANAGEMENT AND KEY EMPLOYEES. PRESBYTERIAN LIVING ANNUALLY PARTICIPATES IN AN INDUSTRY SPECIFIC EXECUTIVE COMPENSATION SURVEY. THE RESULTS OF THIS SURVEY IS REVIEWED BY MANAGEMENT AND SHARED WITH THE COMMITTEE AS NECESSARY. IN ADDITION, THE COMMITTEE REGULARLY ENGAGES AN EXTERNAL COMPENSATION CONSULTING FIRM TO ASSIST IN ITS REVIEW OF THE LEVEL OF COMPENSATION, INCENTIVES AND BENEFITS FOR SENIOR EXECUTIVES AND KEY EMPLOYEES EVERY THREE YEARS. THE COMPENSATION CONSULTANTS ACCUMULATE AND PRESENT TO THE COMPENSATION COMMITTEE MARKET INFORMATION FOR EACH SENIOR EXECUTIVE POSITION, SUMMARIZE INDIVIDUAL EXECUTIVE COMPENSATION, INCENTIVE AND BENEFITS PACKAGES AND BENCHMARK THAT INFORMATION TO THE INDUSTRY DATA THEY HAVE ACCUMULATED. ANNUALLY, THE ORGANIZATION'S STAFF AND/OR THE BOARD OF DIRECTORS PREPARES PERFORMANCE REVIEWS FOR ALL SENIOR MANAGERS AND KEY EMPLOYEES AND MAKES A RECOMMENDATION TO THE COMPENSATION COMMITTEE REGARDING COMPENSATION, INCENTIVES AND BENEFITS ADJUSTMENTS. THE COMPENSATION COMMITTEE CONSIDERS THE PERFORMANCE RECOMMENDATION, COMPARISONS OF TOTAL COMPENSATION BY EXECUTIVE TO MARKET COMPENSATION PERCENTILE FOR INDUSTRY EXECUTIVES WITH SIMILAR JOB TITLES AND/OR SKILL SETS, AND ORGANIZATIONAL NEEDS IN TERMS OF MEETING THE CHALLENGES OF THE UNIQUE BUSINESS OF PROVIDING SENIOR CARE SERVICES. THE COMPENSATION COMMITTEE MAKES A RECOMMENDATION REGARDING COMPENSATION AND BENEFITS CHANGES FOR SENIOR MANAGEMENT WHICH IS APPROVED ANNUALLY BY THE FULL BOARD OF DIRECTORS WITHIN THE BUDGET PROCESS. THE COMPENSATION COMMITTEE PROCEEDINGS ARE CONTEMPORANEOUSLY DOCUMENTED AND MINUTES ARE MAINTAINED AND ON FILE AT THE CORPORATE OFFICE.

Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan

PRESBYTERIAN LIVING (SOLE MEMBER OF GENEVA FOUNDATION) HAS ESTABLISHED A NON-QUALIFIED SECTION 457(F) DEFERRED COMPENSATION PLAN. THE ORGANIZATION'S ACCRUALS INTO THE PLAN ARE RECORDED ON THE 990 AS DEFERRED COMPENSATION. HOWEVER, THESE MONIES VEST OVER A FIVE-YEAR PERIOD AND ARE ONLY ELIGIBLE TO BE RECEIVED BASED UPON THE ACHIEVEMENT OR SATISFACTION OF SOME FUTURE EVENT. THE PLAN CONTRIBUTIONS ARE NOT UNDER THE CONTROL OF THE EXECUTIVE, THEY REMAIN THE ASSET OF THE ORGANIZATION, AND THE ENTIRE PLAN IS SUBJECT TO A FULL RISK OF FORFEITURE BY THE INDIVIDUAL. DURING THE YEAR THE FOLLOWING INDIVIDUALS PARTICIPATED IN A NON-QUALIFIED SECTION 457(F) DEFERRED COMPENSATION PLAN: TODD SWORTZEL, NADIM ABI-ANTOUN AND MARK HAVRILKA. DURING THE YEAR TODD SWORTZEL RECEIVED PAYMENTS TOTALING $173,622 FROM A NON-QUALIFIED SECTION 457(F) DEFERRED COMPENSATION PLAN. DURING THE YEAR NADIM ABI-ANTOUN RECEIVED PAYMENTS TOTALING $54,812 FROM A NON-QUALIFIED SECTION 457(F) DEFERRED COMPENSATION PLAN. DURING THE YEAR MARK HAVRILKA RECEIVED PAYMENTS TOTALING $47,985 FROM A NON-QUALIFIED SECTION 457(F) DEFERRED COMPENSATION PLAN. EFFECTIVE APRIL 1, 2021, PRESBYTERIAN LIVING (SOLE MEMBER OF GENEVA FOUNDATION) HAS ESTABLISHED AN EXECUTIVE RETENTION BONUS PROGRAM, A NON-QUALIFIED SECTION 457(F) DEFERRED COMPENSATION AGREEMENT. THE ORGANIZATION'S ACCRUALS INTO THE AGREEMENT ARE RECORDED ON THE 990 AS DEFERRED COMPENSATION. THESE COMPENSATIONS ARE VESTED OVER A THREE-YEAR PERIOD FOR THE CEO AND COO, AND A FOUR-YEAR PERIOD FOR THE CFO, AND ARE SUBJECT TO EXECUTIVE'S SATISFACTION OF THE TERMS AND CONDITIONS OF THE AGREEMENT. THE CONTRIBUTIONS OF THIS AGREEMENT ARE NOT UNDER THE CONTROL OF THE EXECUTIVE, AND THEY REMAIN THE ASSET OF THE ORGANIZATION. THE ENTIRE AGREEMENT IS SUBJECT TO A FULL RISK OF FORFEITURE BY THE INDIVIDUAL. DURING THE YEAR THE FOLLOWING INDIVIDUALS PARTICIPATED IN THIS RETENTION BONUS PROGRAM: TODD SWORTZEL, NADIM ABI-ANTOUN, AND MARK HAVRILKA. DURING THE YEAR TODD SWORTZEL RECEIVED PAYMENTS TOTALING $257,906 FROM THE EXECUTIVE RETENTION BONUS PROGRAM. DURING THE YEAR NADIM ABI-ANTOUN RECEIVED PAYMENTS TOTALING $213,727 FROM THE EXECUTIVE RETENTION BONUS PROGRAM. DURING THE YEAR MARK HAVRILKA RECEIVED PAYMENTS TOTALING $144,360 FROM THE EXECUTIVE RETENTION BONUS PROGRAM.

Schedule J, Part I, Line 7 Non-fixed payments

AS INDICATED IN SCHEDULE J, PART II, THE OFFICERS AND KEY EMPLOYEES OF THE ORGANIZATION RECEIVED A BONUS BASED ON PERFORMANCE, CENSUS METRICS AND THE FINANCIAL RESULTS OF THE ORGANIZATION. THIS BONUS WAS APPROVED BY BOARD OF DIRECTORS UPON THE RECOMMENDATION OF THE COMPENSATION COMMITTEE.