Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1d · Related organizations

  $327,674

• 1f · All other contributions, gifts and grants

  $88,807

• 2a · Program service revenue: RESIDENT SERVICE FEES

  total $65,015,690 · related or exempt $65,015,690

• 2b · Program service revenue: EARNED ENTRANCE FEES

  total $32,847,183 · related or exempt $32,847,183

• 2c · Program service revenue: HEALTH SERVICES REVENUE

  total $25,522,464 · related or exempt $25,522,464

• 3 · Investment income

  total $8,566,067 · excluded $8,566,067

• 6a · Gross rents

  real property $80,459

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $80,459

• 6d · Net rental income or loss

  total $80,459 · excluded $80,459

• 7a · Gross sales of assets other than inventory

  securities $503,253,064 · other assets $11,026

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

  securities $502,900,201 · other assets $474,207

• 7c · Gain or loss

  securities $352,863 · other assets -$463,181

• 7d · Net gain or loss

  total -$110,318 · excluded -$110,318

• 11a · Other revenue: ANCILLARY SERVICES

  total $515,751 · related or exempt $515,751

• 11e · Other revenue, total

  $515,751

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $2,867,300 · program services $2,867,300

• 7 · Other salaries and wages

  total $23,543,837 · program services $23,543,837

• 8 · Pension plan contributions

  total $880,877 · program services $880,877

• 9 · Other employee benefits

  total $3,007,744 · program services $3,007,744

• 10 · Payroll taxes

  total $1,728,215 · program services $1,728,215

• 11b · Fees: legal

  total $24,598 · management and general $24,598

• 11f · Fees: investment management

  total $828,708 · management and general $828,708

• 11g · Fees: other

  total $14,983,428 · program services $14,965,746 · management and general $17,682

• 12 · Advertising and promotion

  total $483,051 · program services $483,051

• 13 · Office expenses

  total $53,636 · program services $53,636

• 14 · Information technology

  total $855,432 · program services $855,432

• 17 · Travel

  total $51,597 · program services $51,597

• 19 · Conferences, conventions and meetings

  total $49,329 · program services $49,329

• 20 · Interest

  total $9,915,951 · program services $9,915,951

• 21 · Payments to affiliates

  total $10,089,725 · program services $10,089,725

• 22 · Depreciation, depletion and amortization

  total $36,505,764 · program services $36,505,764

• 23 · Insurance

  total $4,578,479 · management and general $4,578,479

• 24a · Other expenses: FOOD SERVICES

  total $5,724,159 · program services $5,724,159

• 24b · Other expenses: UTILITIES

  total $4,095,626 · program services $4,095,626

• 24c · Other expenses: EQUIPMENT RENTAL & MAIN

  total $4,000,915 · program services $4,000,915

• 24d · Other expenses: SUPPLIES

  total $3,368,770 · program services $3,368,770

• 24e · All other expenses

  total $7,055,093 · program services $7,055,093

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $11,950,083 · end of year $30,678,847

• 4 · Accounts receivable

  beginning of year $8,864,973 · end of year $6,957,469

• 8 · Inventories for sale or use

  beginning of year $468,151 · end of year $535,399

• 9 · Prepaid expenses and deferred charges

  beginning of year $706,641 · end of year $926,066

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

  $1,040,376,393

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

  $308,574,246

• 10c · Land, buildings and equipment, net

  beginning of year $677,251,830 · end of year $731,802,147

• 11 · Investments: publicly traded securities

  beginning of year $288,293,708 · end of year $301,945,581

• 15 · Other assets

  beginning of year $3,045,530 · end of year $2,838,323

• 17 · Accounts payable and accrued expenses

  beginning of year $14,920,014 · end of year $11,381,943

• 19 · Deferred revenue

  beginning of year $618,676,118 · end of year $712,860,403

• 20 · Tax-exempt bond liabilities

  beginning of year $235,828,829 · end of year $230,271,036

• 25 · Other liabilities

  beginning of year $90,948,064 · end of year $67,990,852

• 27 · Net assets without donor restrictions

  beginning of year $29,792,293 · end of year $52,721,314

• 28 · Net assets with donor restrictions

  beginning of year $415,598 · end of year $458,284

The filer's explanations (Part III)

PART I, LINE 4B

THE ORGANIZATION MAINTAINS A NONQUALIFIED DEFERRED COMPENSATION PLAN ESTABLISHED UNDER SECTION 457(F) OF THE INTERNAL REVENUE CODE FOR ITS CHIEF EXECUTIVE OFFICER, TO WHICH THE ORGANIZATION MAKES CONTRIBUTIONS. DURING THE YEAR ENDED DECEMBER 31, 2023, THE ORGANIZATION CONTRIBUTED $100,000 TO THE PLAN.

PART I, LINE 3

THE ORGANIZATION MAINTAINS A WRITTEN COMPENSATION PHILOSOPHY FOR ALL EMPLOYEES, INCLUDING TOP MANAGEMENT OFFICIALS, THAT ADDRESSES ALL ELEMENTS OF COMPENSATION, INCLUDING MERIT BONUSES. THE MANAGEMENT DEVELOPMENT & COMPENSATION COMMITTEE, WHICH IS INDEPENDENT WITH RESPECT TO ALL COMPENSATION DECISIONS, IS CHARGED WITH MANAGING THE PROCESS AND REPORTING TO THE BOARD. THE CHAIR OF THE BOARD IS RESPONSIBLE FOR CONDUCTING THE ANNUAL PERFORMANCE REVIEW OF THE CEO AND THE CEO IS RESPONSIBLE FOR CONDUCTING THE ANNUAL PERFORMANCE REVIEWS OF ALL OTHER TOP MANAGEMENT OFFICIALS. A MERIT BONUS FOR CERTAIN MANAGEMENT MAY BE APPROVED BASED ON PERFORMANCE CRITERIA AND GOALS. THE COMPENSATION OF EACH OF THE TOP MANAGEMENT OFFICIALS IS REVIEWED BY THE MANAGEMENT DEVELOPMENT & COMPENSATION COMMITTEE USING COMPARATIVE DATA. IN ADDITION, DURING 2023, THE MANAGEMENT DEVELOPMENT & COMPENSATION COMMITTEE RECEIVED A REPORT FROM AN INDEPENDENT COMPENSATION CONSULTANT REGARDING EXECUTIVE COMPENSATION.

PART II, (B)(III):

INCLUDES VESTED AMOUNTS OF CONTRIBUTIONS PREVIOUSLY MADE TO A 457(B) PLAN.