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Nonprofiteer
← MATHER INVESTMENTS NFP

Form 990 for tax year 2024

Filed by MATHER INVESTMENTS NFP.

Totals

Total revenue
$74,364,366
Total expenses
$113,855,175
Contributions and grants received
$0
Grants paid
$18,168,255
Program service revenue
$69,003,597
Investment income
$5,360,769
Other revenue
$0
Total assets, end of year
$80,748,510
Total liabilities, end of year
$115,236,006
Net assets or fund balances, end of year
-$34,487,496
Program services expenses (Part IX)
$103,531,374
Management and general expenses
$10,323,801
Fundraising expenses
$0
Program service expenses (Part III)
$103,531,374

Program services were 90.9% 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.

  • 2a · Program service revenue: J.V. PROGRAM RECEIPTS

    total $37,664,922 · related or exempt $37,664,922

  • 2b · Program service revenue: CONTRACTED SERVICES

    total $20,449,437 · related or exempt $20,449,437

  • 2c · Program service revenue: MARKETING FEE INCOME

    total $3,519,153 · related or exempt $3,519,153

  • 2d · Program service revenue: DEVELOPMENT FEE INCOME

    total $3,493,267 · related or exempt $3,493,267

  • 2e · Program service revenue: MANAGEMENT FEE

    total $2,579,817 · related or exempt $2,579,817

  • 2f · All other program service revenue

    total $1,297,001 · related or exempt $1,297,001

  • 3 · Investment income

    total $360,769 · excluded $360,769

  • 7a · Gross sales of assets other than inventory

    other assets $5,000,000

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

    other assets $0

  • 7c · Gain or loss

    other assets $5,000,000

  • 7d · Net gain or loss

    total $5,000,000 · related or exempt $5,000,000

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $18,168,255 · program services $18,168,255

  • 7 · Other salaries and wages

    total $15,775,404 · program services $14,961,475 · management and general $813,929

  • 8 · Pension plan contributions

    total $941,103 · program services $892,547 · management and general $48,556

  • 9 · Other employee benefits

    total $2,526,111 · program services $2,414,976 · management and general $111,135

  • 10 · Payroll taxes

    total $1,206,819 · program services $1,144,553 · management and general $62,266

  • 11c · Fees: accounting

    total $15,756 · management and general $15,756

  • 13 · Office expenses

    total $3,757 · management and general $3,757

  • 24a · Other expenses: JOINT VENTURE EXPENSES

    total $63,089,444 · program services $63,089,444 · management and general $0

  • 24b · Other expenses: CORPORATE SERVICES

    total $11,881,003 · program services $2,613,821 · management and general $9,267,182

  • 24c · Other expenses: DESIGN FEES

    total $236,860 · program services $236,860

  • 24d · Other expenses: PARTNERSHIP LOSS

    total $9,443 · program services $9,443

  • 24e · All other expenses

    total $1,220 · management and general $1,220

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $807 · end of year $2,546

  • 4 · Accounts receivable

    beginning of year $20,828,878 · end of year $11,993,365

  • 7 · Other notes and loans receivable

    beginning of year $82,090,301 · end of year $41,106,963

  • 9 · Prepaid expenses and deferred charges

    beginning of year $0 · end of year $177,995

  • 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

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $36,452,036 · end of year $27,467,641

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $14,411,512 · end of year $23,624,699

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $131,047,738 · end of year $91,611,307

  • 27 · Net assets without donor restrictions

    beginning of year -$6,087,228 · end of year -$34,487,496

Mission and programs · 2024

Mission

MATHER INVESTMENTS, NFP ENHANCES THE LIVES OF OLDER ADULTS BY CREATING AND OPERATING SENIOR LIVING COMMUNITIES.

Activities or mission (Part I)

MATHER INVESTMENTS, NFP ENHANCES THE LIVES OF OLDER ADULTS BY CREATING AND (CONTINUED ON SCHEDULE O) OPERATING SENIOR LIVING COMMUNITIES.

  • MATHER INVESTMENTS, NFP FACILITATES THE OWNERSHIP AND OPERATIONS OF LIFE PLAN COMMUNITIES. WE ENHANCE THE LIVES OF OLDER ADULTS BY CREATING WAYS TO AGE WELL. WE ARE DEDICATED TO PROVIDING A CONTINUUM OF LIVING AND CARE.

    Expenses $40,441,930 · Grants $18,168,255 · Revenue $31,338,675

  • MATHER INVESTMENTS, NFP CONTINUES ITS MISSION THROUGH ITS PARTICIPATION IN JOINT VENTURE OPERATIONS. THE JOINT VENTURES OPERATE LIFE PLAN COMMUNITIES.

    Expenses $63,089,444 · Revenue $42,664,922

As filed on the 2024 return.

Listed in Part VII

  • Mary G Leary

    PRESIDENT & CEO

    Total calculated
    $2,061,920
    From this org
    $0
    From related orgs
    $1,875,195
    Other
    $186,725
    Hours/week
    0.1 + 60.3 related

    Schedule J breakdown matched by us

    Base
    $0 + $808,633 related
    Bonus
    $0 + $682,539 related
    Other
    $0 + $384,023 related
    Deferred
    $0 + $150,150 related
    Nontaxable benefits
    $0 + $36,575 related
    Filer's total
    $0 + $2,061,920 related

  • John R Phillips

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    0.1 + 4.4 related

  • Jenny Chan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1 + 2.1 related

  • Julie Riggs

    SECRETARY

    Total calculated
    $260,048
    From this org
    $0
    From related orgs
    $211,471
    Other
    $48,577
    Hours/week
    0.1 + 49.9 related

    Schedule J breakdown matched by us

    Base
    $0 + $174,054 related
    Bonus
    $0 + $27,086 related
    Other
    $0 + $10,331 related
    Deferred
    $0 + $15,417 related
    Nontaxable benefits
    $0 + $33,160 related
    Filer's total
    $0 + $260,048 related

  • Mary Schoeggl

    CFO

    Total calculated
    $461,731
    From this org
    $0
    From related orgs
    $409,108
    Other
    $52,623
    Hours/week
    0.1 + 50.3 related

    Schedule J breakdown matched by us

    Base
    $0 + $403,357 related
    Bonus
    $0
    Other
    $0 + $5,751 related
    Deferred
    $0 + $24,150 related
    Nontaxable benefits
    $0 + $28,473 related
    Filer's total
    $0 + $461,731 related

  • Christopher Manella

    SVP FINANCE & TREASURER

    Total calculated
    $569,035
    From this org
    $0
    From related orgs
    $511,159
    Other
    $57,876
    Hours/week
    0.1 + 50.3 related

    Schedule J breakdown matched by us

    Base
    $0 + $269,407 related
    Bonus
    $0 + $147,000 related
    Other
    $0 + $94,752 related
    Deferred
    $0 + $24,150 related
    Nontaxable benefits
    $0 + $33,726 related
    Filer's total
    $0 + $569,035 related

  • Kristina Pare

    DIRECTOR OF SALES

    Total calculated
    $329,026
    From this org
    $279,888
    From related orgs
    $0
    Other
    $49,138
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $151,939
    Bonus
    $126,413
    Other
    $1,536
    Deferred
    $20,232
    Nontaxable benefits
    $28,906
    Filer's total
    $329,026

  • Maria Parham

    CARE CENTER ADMINISTRATOR

    Total calculated
    $186,783
    From this org
    $159,199
    From related orgs
    $0
    Other
    $27,584
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $145,935
    Bonus
    $11,224
    Other
    $2,040
    Deferred
    $11,377
    Nontaxable benefits
    $16,207
    Filer's total
    $186,783

  • Peter Muhlbach

    GENERAL MANAGER

    Total calculated
    $308,076
    From this org
    $259,698
    From related orgs
    $0
    Other
    $48,378
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $243,430
    Bonus
    $10,000
    Other
    $6,268
    Deferred
    $18,393
    Nontaxable benefits
    $29,985
    Filer's total
    $308,076

  • Beth Benswanger

    DESIGN & MOVE-IN COORDINATOR

    Total calculated
    $187,443
    From this org
    $161,933
    From related orgs
    $0
    Other
    $25,510
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $116,564
    Bonus
    $44,900
    Other
    $469
    Deferred
    $11,543
    Nontaxable benefits
    $13,967
    Filer's total
    $187,443

  • Rajesh Radke

    GENERAL MANAGER

    Total calculated
    $390,871
    From this org
    $341,252
    From related orgs
    $0
    Other
    $49,619
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $296,964
    Bonus
    $34,200
    Other
    $10,088
    Deferred
    $21,279
    Nontaxable benefits
    $28,340
    Filer's total
    $390,871

  • Carol L Sussenbach

    FORMER CFO & TREASURER

    Total calculated
    $195,895
    From this org
    $0
    From related orgs
    $195,895
    Other
    $0
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $0
    Bonus
    $0 + $72,134 related
    Other
    $0 + $123,761 related
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $195,895 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

  • 4b · Supplemental nonqualified retirement plan
  • 7 · Other non-fixed payments

Answered no

  • 4a · Severance or change-of-control payment
  • 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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3:
TOP MANAGEMENT'S COMPENSATION MATHER INVESTMENTS, NFP'S TOP MANAGEMENT'S COMPENSATION IS ESTABLISHED BY MATHER, AS THE COMPENSATION IS PAID BY MATHER (A RELATED ORGANIZATION). MATHER FOLLOWS PROCEDURES TO ESTABLISH THE "REBUTTABLE" PRESUMPTION OF REASONABLENESS DESCRIBED IN THE INCOME TAX REGULATIONS IN DETERMINING EXECUTIVE COMPENSATION. COMPENSATION IS REVIEWED ANNUALLY BY THE BOARD'S COMPENSATION COMMITTEE, WHICH CONSISTS OF INDEPENDENT DIRECTORS WHO OBTAIN AND RELY ON APPROPRIATE DATA AS TO COMPARABILITY. OBJECTIVE EVIDENCE OF REASONABLENESS AND COMPARABILITY IS OBTAINED FROM INFORMATION PROVIDED BY AN INDEPENDENT, THIRD PARTY COMPENSATION CONSULTANT. DETERMINATION OF EXECUTIVE COMPENSATION INVOLVES BENCHMARKING WITH COMPARATIVE MARKET COMPENSATION DATA TO ENSURE THAT COMPENSATION IS FAIR, EQUITABLE, AND WITHIN THE STANDARDS OF COMPENSATION UTILIZED WITHIN THE INDUSTRY. COMPENSATION DECISIONS ARE DOCUMENTED AND REVIEWED WITH THE FULL BOARD. PART I, LINE 4B: SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN MARY G. LEARY IS THE ONLY PARTICIPANT IN MATHER'S 457(F) PLAN. AS OF 2021, THE PLAN IS FROZEN AND NO LONGER ACCEPTING CONTRIBUTIONS. MATHER OFFERS A LONG-TERM INCENTIVE PLAN (LTIP) TO CERTAIN MEMBERS OF THE EXECUTIVE MANAGEMENT TEAM, WHICH IS BASED ON OVERLAPPING THREE-YEAR CYCLES, AND PROVIDES FOR INCENTIVE PAYMENTS BASED UPON ACHIEVEMENT OF SPECIFIC THREE-YEAR PERFORMANCE OBJECTIVES. DISTRIBUTIONS WERE PAID OUT IN 2024 TO MARY G. LEARY OF $347,180, CAROL L. SUSSENBACH OF $123,761, AND CHRISTOPHER MANELLA OF $90,546. THE AMOUNTS WERE INCLUDED AS TAXABLE COMPENSATION IN EACH INDIVIDUAL'S W-2. PART I, LINE 7: NON-FIXED PAYMENTS BONUS PROGRAM BASED ON GOAL ACHIEVEMENT AND INCLUDES A DISCRETIONARY NONFIXED PAYMENTS PORTION.

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.

  • TUCSON MATHER LLC

    HOLDING COMPANY · IL · income $5,000,000 · assets $0

    Directly controlled by MATHER INVESTMENTS NFP

  • TUCSON MATHER MANAGEMENT LLC

    MANAGEMENT SERVICES · IL · income $18,187,253 · assets $3,670,909

    Directly controlled by MATHER INVESTMENTS NFP

  • VIRGINIA MATHER MANAGEMENT LLC

    MANAGEMENT SERVICES · IL · income $9,658,155 · assets $5,835,180

    Directly controlled by MATHER INVESTMENTS NFP

  • VIRGINIA MATHER LPC LLC

    HOLDING COMPANY · IL · income $0 · assets $16,965,342

    Directly controlled by MATHER INVESTMENTS NFP

  • VIRGINIA MATHER DEVELOPMENT LLC

    DEVELOPMENT · IL · income $2,498,371 · assets $2,665,271

    Directly controlled by MATHER INVESTMENTS NFP

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • TUCSON MATHER PLAZA LLC -

    RELATED · SENIOR LIVING · AZ · 50% owned · share of income $1,268,583 · share of assets $59,982,074 · general or managing partner

    Directly controlled by MATHER INV

  • TYSONS HOLDINGS LPC LLC

    RELATED · HOLDING CO · IL · 50% owned · share of income -$26,693,105 · share of assets $238,871,488 · general or managing partner

    Directly controlled by MATHER INV

Provenance

Return type
form_990
Tax year
2024
Filed
11 November 2025
IRS schema version
2024v5.2
Source object
202543159349306574

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