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Nonprofiteer
← SANTAFE SENIOR LIVING INC

Form 990 for tax year 2023

Filed by SANTAFE SENIOR LIVING INC.

Totals

Total revenue
$6,824,848
Total expenses
$4,072,257
Contributions and grants received
$1,450,000
Grants paid
$0
Program service revenue
$5,136,701
Investment income
$238,147
Other revenue
$0
Total assets, end of year
$10,980,268
Total liabilities, end of year
$11,606,209
Net assets or fund balances, end of year
-$625,941
Program services expenses (Part IX)
$15,774
Management and general expenses
$4,056,483
Fundraising expenses
$0
Program service expenses (Part III)
$15,774

Program services were 0.4% 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.

  • 1d · Related organizations

    $1,450,000

  • 2a · Program service revenue: MANAGEMENT FEES

    total $5,136,701 · related or exempt $5,136,701

  • 3 · Investment income

    total $238,147 · excluded $238,147

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $1,594,470 · management and general $1,594,470

  • 8 · Pension plan contributions

    total $59,290 · management and general $59,290

  • 9 · Other employee benefits

    total $116,632 · management and general $116,632

  • 10 · Payroll taxes

    total $117,061 · program services $307 · management and general $116,754

  • 11a · Fees: management

    total $1,786,822 · management and general $1,786,822

  • 11c · Fees: accounting

    total $15,403 · management and general $15,403

  • 11g · Fees: other

    total $249,135 · management and general $249,135

  • 13 · Office expenses

    total $20,121 · management and general $20,121

  • 16 · Occupancy

    total $2,132 · management and general $2,132

  • 17 · Travel

    total $39,146 · program services $15,467 · management and general $23,679

  • 19 · Conferences, conventions and meetings

    total $517 · management and general $517

  • 22 · Depreciation, depletion and amortization

    total $5,591 · management and general $5,591

  • 23 · Insurance

    total $6,630 · management and general $6,630

  • 24a · Other expenses: DUES AND ASSESSMENTS

    total $56,398 · management and general $56,398

  • 24b · Other expenses: LICENSES AND FEES

    total $2,909 · management and general $2,909

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $679,024 · end of year $2,647,905

  • 7 · Other notes and loans receivable

    beginning of year $5,469,846 · end of year $6,975,193

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

    $44,205

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

    $36,285

  • 10c · Land, buildings and equipment, net

    beginning of year $13,511 · end of year $7,920

  • 12 · Investments: other securities

    beginning of year $119,573 · end of year $147,918

  • 15 · Other assets

    beginning of year $357,915 · end of year $1,201,332

  • 17 · Accounts payable and accrued expenses

    beginning of year $209,856 · end of year $366,253

  • 25 · Other liabilities

    beginning of year $9,801,239 · end of year $11,239,956

  • 27 · Net assets without donor restrictions

    beginning of year -$3,375,941 · end of year -$632,581

  • 28 · Net assets with donor restrictions

    beginning of year $4,715 · end of year $6,640

Mission and programs · 2023

Mission

TO CREATE AND SUSTAIN PREEMINENT SENIOR LIVING COMMUNITIES THAT PROVIDE A CONTINUUM OF SERVICES IN HOUSING, HEALTH CARE AND OTHER PROGRAMS TO ENHANCE THE QUALITY AND DIGNITY OF LIFE.

Activities or mission (Part I)

SANTAFE SENIOR LIVING, INC. CREATES AND SUSTAINS PREEMINENT SENIOR LIVING COMMUNITIES. THE PRIMARY EXEMPT PURPOSE OF SANTAFE SENIOR LIVING, INC. IS TO GOVERN AND CARRY OUT THE PURPOSES OF A SYSTEM OF TAX-EXEMPT CHARITABLE ORGANIZATIONS THAT ACQUIRE, OWN, OPERATE, AND MAINTAIN FACILITIES AND SERVICES DESIGNED TO MEET THE PHYSICAL, SOCIAL, EMOTIONAL AND SPIRITUAL NEEDS OF SENIOR INDIVIDUALS.

  • DURING THE YEAR, SANTAFE SENIOR LIVING, INC. PROVIDED OVERSIGHT GOVERNANCE AND DEVELOPMENT PLANNING SERVICES TO BONITA SPRINGS RETIREMENT VILLAGE, INC. (DBA THE TERRACES AT BONITA SPRINGS). THE TERRACES AT BONITA SPRINGS SERVED AN AVERAGE PER DAY OF 245 SENIOR CITIZEN RESIDENTS WITH HOUSING, HEALTH CARE AND RELATED SERVICES DURING 2023.DURING THE YEAR, SANTAFE SENIOR LIVING, INC. PROVIDED OVERSIGHT GOVERNANCE AND DEVELOPMENT PLANNING SERVICES TO NORTH FLORIDA RETIREMENT VILLAGE, INC. (DBA THE VILLAGE). THE VILLAGE SERVED AN AVERAGE PER DAY OF 633 SENIOR CITIZEN RESIDENTS WITH AROUND THE CLOCK HOUSING, ASSISTED LIVING AND RELATED SERVICES DURING 2023.DURING THE YEAR, SANTAFE SENIOR LIVING, INC. PROVIDED OVERSIGHT GOVERNANCE AND DEVELOPMENT PLANNING SERVICES TO EAST RIDGE RETIREMENT VILLAGE, INC. EAST RIDGE RETIREMENT VILLAGE, INC. SERVED AN AVERAGE PER DAY OF 348 SENIOR CITIZEN RESIDENTS WITH HOUSING, HEALTH CARE AND RELATED SERVICES DURING 2023.

    Expenses $15,774 · Revenue $5,136,701

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

Listed in Part VII

  • LAWRENCE G SCHREIBER

    PRESIDENT & CEO

    Total calculated
    $6,103,583
    From this org
    $0
    From related orgs
    $6,073,583
    Other
    $30,000
    Hours/week
    1 + 46 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,045,673 related
    Bonus
    $0
    Other
    $0 + $5,027,910 related
    Deferred
    $0 + $30,000 related
    Nontaxable benefits
    $0
    Filer's total
    $0 + $6,103,583 related

  • STEVEN ZIEGLER

    PRESIDENT AND CLO

    Total calculated
    $1,343,162
    From this org
    $0
    From related orgs
    $1,314,158
    Other
    $29,004
    Hours/week
    1 + 46 related

    Schedule J breakdown matched by us

    Base
    $0 + $472,501 related
    Bonus
    $0
    Other
    $0 + $841,657 related
    Deferred
    $0 + $29,004 related
    Nontaxable benefits
    $0
    Filer's total
    $0 + $1,343,162 related

  • CHRISTINA L WHITE

    DIRECTOR, FINANCE AND REP

    Total calculated
    $178,210
    From this org
    $177,322
    From related orgs
    $0
    Other
    $888
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $165,926
    Bonus
    $11,396
    Other
    $0
    Deferred
    $888
    Nontaxable benefits
    $0
    Filer's total
    $178,210

  • KARL F GOEDERT

    CONTROLLER

    Total calculated
    $198,563
    From this org
    $168,563
    From related orgs
    $0
    Other
    $30,000
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $163,260
    Bonus
    $4,823
    Other
    $480
    Deferred
    $30,000
    Nontaxable benefits
    $0
    Filer's total
    $198,563

  • KIM Y KING

    DIR., COMPLIANCE & ASSUR

    Total calculated
    $171,931
    From this org
    $165,816
    From related orgs
    $0
    Other
    $6,115
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $165,816
    Bonus
    $0
    Other
    $0
    Deferred
    $6,115
    Nontaxable benefits
    $0
    Filer's total
    $171,931

  • ZACHARY A RADKE

    CORPORATE IT DIRECTOR

    Total calculated
    $177,352
    From this org
    $154,852
    From related orgs
    $0
    Other
    $22,500
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $150,272
    Bonus
    $4,100
    Other
    $480
    Deferred
    $22,500
    Nontaxable benefits
    $0
    Filer's total
    $177,352

  • LORETTA L NEAL

    HR BUSINESS PARTNER

    Total calculated
    $136,622
    From this org
    $125,487
    From related orgs
    $0
    Other
    $11,135
    Hours/week
    40

  • GLENDA EVANS HOOD

    CHAIR

    Total calculated
    $0
    Hours/week
    1 + 7 related

  • JACKSON NORMAN SASSER PHD

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1 + 7 related

  • BENJAMIN IRVING DOERR JR

    TREASURER

    Total calculated
    $0
    Hours/week
    1 + 7 related

  • KEVIN R MADDRON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 7 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

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
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3
LAWRENCE G SCHREIBER IS THE CHIEF EXECUTIVE OFFICER (CEO) OF SANTAFE SENIOR LIVING, INC. MR. SCHREIBER IS COMPENSATED BY SANTAFE HEALTHCARE, INC., A RELATED SUPPORTING ORGANIZATION. SANTAFE HEALTHCARE, INC. UTILIZES THE FOLLOWING PROCESS TO ESTABLISH THE CEO'S COMPENSATION AND BENEFITS: THE SANTAFE HEALTHCARE, INC. BOARD OF DIRECTORS ANNUALLY RETAINS AN INDEPENDENT THIRD PARTY COMPENSATION AND BENEFITS CONSULTING FIRM (FIRM) TO CONDUCT A MARKET COMPETITIVENESS REVIEW OF THE CEO'S TOTAL DIRECT COMPENSATION (BASE SALARY, ANNUAL INCENTIVES, AND LONG TERM INCENTIVES) AND BENEFITS. THE COMPETITIVE ANALYSIS INCLUDES COMPARISON TO SIMILAR POSITIONS IN COMPANIES OF SIMILAR SIZE WITHIN THE SAME OR SIMILAR INDUSTRY. THE FIRM MAKES RECOMMENDATIONS, IF ANY, DIRECTLY TO THE BOARD OF DIRECTORS. THE BOARD OF DIRECTORS ESTABLISHES THE FINAL COMPENSATION AND BENEFIT PACKAGE FOR THE CEO TAKING INTO CONSIDERATION THE MARKET COMPETITIVENESS REVIEW AND FINAL RECOMMENDATION OF THE FIRM. THE FIRM PROVIDES AN OPINION LETTER REGARDING THE REASONABLENESS OF THE CEO'S FINAL COMPENSATION AND BENEFITS PACKAGE. THE ACTIONS OF THE BOARD ARE DOCUMENTED IN THE MINUTES OF THE BOARD MEETING.
PART I, LINE 4B
(RELATES TO PART I, LINE 4A): LISTED PERSONS ARE EMPLOYEES OF SANTAFE SENIOR LIVING, INC. OR RELATED ORGANIZATIONS AND ARE COVERED UNDER A SEVERANCE POLICY FOR THEIR RESPECTIVE ORGANIZATION. THE SEVERANCE POLICY INCLUDES MONTHLY PAYMENTS UP TO A MAXIMUM OF 12 - 36 MONTHS UNDER QUALIFYING CIRCUMSTANCES DEPENDING ON POSITION. NO ONE LISTED RECEIVED SEVERANCE OR CHANGE OF CONTROL PAYMENTS DURING 2023. (RELATES TO PART I, LINE 4B): LISTED PERSONS PARTICIPATING IN A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN IN THE YEAR: LAWRENCE G SCHREIBER, PHILIP G BOWLING, STEVEN M ZIEGLER, AND RONALD E JENNETTE ARE EMPLOYEES OF SANTAFE HEALTHCARE, INC., A RELATED SUPPORTING ORGANIZATION. THEY PARTICIPATE IN TWO NONQUALIFIED DEFERRED COMPENSATION RETIREMENT PLANS SPONSORED BY SANTAFE HEALTHCARE, INC. FOR A CERTAIN GROUP OF EXECUTIVES. ONE PLAN RESTORES RETIREMENT BENEFITS EQUIVALENT TO QUALIFIED 401(K) BENEFITS ON INCOME EARNED IN EXCESS OF THE INTERNAL REVENUE SERVICE CODE SECTION 401(A)(17) RECOGNIZABLE PAY LIMITS (A DEFINED CONTRIBUTION RESTORATION PLAN). VESTING FOR THIS PLAN IS ACHIEVED AT AGE 55 AND 10 YEARS OF SERVICE OR AT AGE 65 AND 5 YEARS OF SERVICE. THE SECOND SUPPLEMENTAL DEFINED CONTRIBUTION PLAN PROVIDES ADDITIONAL RETIREMENT INCOME BASED ON A PERCENTAGE OF BASE SALARY AND VESTS AT THREE AND FIVE YEARS OF SERVICE.
SCHEDULE J, PART II:
CERTAIN SENIOR EXECUTIVES ARE ACCOUNTABLE FOR AND PERFORM SERVICES FOR SANTAFE HEALTHCARE, INC. AND EACH OF ITS AFFILIATES. SANTAFE HEALTHCARE, INC. AND AFFILIATES REPRESENT A DIVERSIFIED FAMILY OF NOT-FOR-PROFIT ORGANIZATIONS. THESE SENIOR EXECUTIVES ARE PAID DIRECTLY BY SANTAFE HEALTHCARE, INC. AND THEIR COMPENSATION AND BENEFITS ARE APPORTIONED AND CHARGED TO THE RESPECTIVE AFFILIATES BASED ON THE ESTIMATED AMOUNT OF TIME SPENT ON EACH AFFILIATE'S ACTIVITIES.

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.

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.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

Provenance

Return type
form_990
Tax year
2023
Filed
15 November 2024
IRS schema version
2023v5.1
Source object
202403209349324115

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