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Nonprofiteer
← COVENANT LIVING AT SHANNONDALE

Form 990 for tax year 2022

Filed by COVENANT LIVING AT SHANNONDALE.

Totals

Total revenue
$31,846,714
Total expenses
$40,569,436
Contributions and grants received
$7,032,518
Grants paid
$0
Program service revenue
$24,726,035
Investment income
$2,584
Other revenue
$85,577
Total assets, end of year
$97,078,876
Total liabilities, end of year
$112,532,058
Net assets or fund balances, end of year
-$15,453,182
Program services expenses (Part IX)
$34,196,736
Management and general expenses
$6,371,971
Fundraising expenses
$729
Program service expenses (Part III)
$34,196,736

Program services were 84.3% 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.

  • 1e · Government grants (contributions)

    $7,032,518

  • 2a · Program service revenue: GENERAL SERVICE FEES

    total $20,543,550 · related or exempt $20,543,550

  • 2b · Program service revenue: OTHER PATIENT SERVICES

    total $4,182,485 · related or exempt $4,182,485

  • 3 · Investment income

    total $14,484 · excluded $14,484

  • 7a · Gross sales of assets other than inventory

    securities $16

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

    securities $0 · other assets $11,916

  • 7c · Gain or loss

    securities $16 · other assets -$11,916

  • 7d · Net gain or loss

    total -$11,900 · excluded -$11,900

  • 11a · Other revenue: MEALS - GUESTS AND EMPLOYEES

    total $15,509 · related or exempt $15,509

  • 11d · All other revenue

    total $70,068 · related or exempt $70,068

  • 11e · Other revenue, total

    $85,577

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $784,249 · management and general $784,249

  • 7 · Other salaries and wages

    total $15,944,037 · program services $14,728,760 · management and general $1,215,277

  • 8 · Pension plan contributions

    total $721,544 · program services $721,544

  • 9 · Other employee benefits

    total $2,346,898 · program services $2,313,439 · management and general $33,459

  • 10 · Payroll taxes

    total $1,272,628 · program services $1,120,511 · management and general $152,117

  • 11b · Fees: legal

    total $103,364 · management and general $103,364

  • 11c · Fees: accounting

    total $172,454 · management and general $172,454

  • 11f · Fees: investment management

    total $4,188 · management and general $4,188

  • 11g · Fees: other

    total $1,344,728 · program services $948,001 · management and general $396,727

  • 12 · Advertising and promotion

    total $85,767 · program services $85,767

  • 13 · Office expenses

    total $195,616 · program services $55,349 · management and general $140,267

  • 14 · Information technology

    total $426,966 · program services $7,508 · management and general $419,458

  • 16 · Occupancy

    total $3,858,781 · program services $3,858,781

  • 17 · Travel

    total $36,109 · program services $36,109

  • 19 · Conferences, conventions and meetings

    total $14,735 · program services $14,735

  • 20 · Interest

    total $2,060,600 · program services $1,813,326 · management and general $247,274

  • 22 · Depreciation, depletion and amortization

    total $3,722,813 · program services $3,276,076 · management and general $446,737

  • 23 · Insurance

    total $739,998 · management and general $739,998

  • 24a · Other expenses: HOUSEKEEPING

    total $2,247,480 · program services $1,850,094 · management and general $397,386

  • 24b · Other expenses: MEDICATIONS

    total $2,098,764 · program services $2,098,764

  • 24c · Other expenses: DIETARY/FOOD SERVICE

    total $1,416,169 · program services $1,416,169

  • 24d · Other expenses: LICENSES & DUES

    total $663,594 · management and general $663,594

  • 24e · All other expenses

    total $307,954 · program services -$148,197 · management and general $455,422 · fundraising $729

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $5,219,945 · end of year $3,519,269

  • 4 · Accounts receivable

    beginning of year $4,375,226 · end of year $894,843

  • 8 · Inventories for sale or use

    beginning of year $316,364 · end of year $275,751

  • 9 · Prepaid expenses and deferred charges

    beginning of year $134,487 · end of year $42,277

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

    $154,334,286

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

    $62,368,044

  • 10c · Land, buildings and equipment, net

    beginning of year $95,609,093 · end of year $91,966,242

  • 12 · Investments: other securities

    beginning of year $658,635 · end of year $323,430

  • 15 · Other assets

    beginning of year $3,006,840 · end of year $57,064

  • 17 · Accounts payable and accrued expenses

    beginning of year $5,057,886 · end of year $2,676,061

  • 19 · Deferred revenue

    beginning of year $50,978,884 · end of year $53,957,915

  • 20 · Tax-exempt bond liabilities

    beginning of year $52,589,757 · end of year $53,847,911

  • 25 · Other liabilities

    beginning of year $5,984,676 · end of year $2,050,171

  • 27 · Net assets without donor restrictions

    beginning of year -$5,561,861 · end of year -$15,724,430

  • 28 · Net assets with donor restrictions

    beginning of year $271,248 · end of year $271,248

Mission and programs · 2022

Mission

THE ORGANIZATION IS AN EXEMPT ORGANIZATION RELATED TO THE PRESBYTERIAN CHURCH OF TN. THE ORGANIZATION OWNS AND OPERATES TWO CONTINUING CARE RETIREMENT COMMUNITIES CONSISTING OF RESIDENTIAL RETIREMENT COMPLEXES, ASSISTED LIVING FACILITIES, AND SKILLED NURSING FACILITIES.

  • OUR HEALTH CARE CENTER COMMUNITIES IN KNOXVILLE AND MARYVILLE PROVIDE A SAFE AND LOVING ENVIRONMENT FOR SENIORS IN NEED OF MEDICAL ASSISTANCE AND MONITORING IN THE COMFORT OF A PRIVATE ROOM. WITH CONVENIENCES LIKE AN ON-SITE PHARMACY, BARBER/BEAUTY SALON AND REHABILITATION SERVICES TO ENHANCE WELL-BEING AND RECOVERY, SENIORS FEEL MORE AT HOME.(CONTINUED ON SCHEDULE O)FEATURES AND AMENITIES:- EMERGENCY CALL SYSTEM IN EVERY ROOM- A WIDE VARIETY OF SOCIAL ACTIVITIES- PHYSICAL, OCCUPATIONAL AND SPEECH THERAPY- BEAUTY AND BARBER SALON WITH PROFESSIONAL STYLISTS (KNOXVILLE LOCATION)- ON-SITE PHARMACY- DENTAL AND PODIATRY SERVICES

    Expenses $34,196,736 · Revenue $24,811,612

  • AT SHANNONDALE, WE OFFER INDEPENDENT LIVING OPTIONS NESTLED IN THE FOOTHILLS OF THE GREAT SMOKY MOUNTAINS IN BOTH KNOXVILLE AND MARYVILLE. HERE, RESIDENTS RETAIN THE INDEPENDENCE OF LIVING IN THEIR OWN PRIVATE HOME WITHOUT THE WORRIES OF MAINTAINING A HOME. OUR RESIDENCY AGREEMENT OFFERS LIFETIME USE OF THE RESIDENCE WITH ASSURED MAINTENANCE AND SECURITY WITH USE OF HIGHER LEVELS OF CARE, IF NEEDED. RESIDENTS CAN MOVE EASILY BETWEEN THE LEVEL OF CARE THEY MAY NEED AT THE TIME, FROM SHORT-TERM REHAB TO ASSISTED OR SKILLED NURSING.(CONTINUED ON SCHEDULE O)FEATURES AND AMENITIES:- HOME MAINTENANCE- TRANSPORTATION- COMMUNITY CLUBHOUSE- FULL SLATE OF SOCIAL EVENTS- FITNESS PROGRAMS- MEDICAL ASSISTANCE- DINING OPTIONS- EMERGENCY CALL SYSTEM- INDOOR POOL ON CAMPUS

  • SENIORS IN ASSISTED LIVING HAVE THIER OWN PRIVATE ROOMS WITH A CARING STAFF WITHIN A BUTTON'S REACH AWAY. ASSISTED LIVING IS BEST FOR SENIORS WHO MAY NEED A PARTNER TO HELP WITH DAILY TASKS OF LIVING, FROM SIMPLE HOUSEKEEPING AND NUTRITIOUS MEALS TO HYGIENE, HEALTH CARE, AND MEDICATION MANAGEMENT. (CONTINUED ON SCHEDULE O) THE KNOXVILLE AND MARYVILLE CAMPUSES ARE BOTH LOCATED NEAR PARKS, SHOPPING CENTERS, HOSPITALS, CHURCHES AND MORE, WITH TRANSPORTATION ASSISTANCE AVAILABLE WHEN NEEDED. THE COMMUNITIES PROVIDE QUIET, PEACEFUL, PRIVATE ENVIRONMENTS, WHERE RESIDENTS CAN RECEIVE THE PERSONAL AND MEDICAL ASSISTANCE THEY MAY NEED, WHILE STILL MAINTAINING A PLEASANT AND SOCIALLY ENGAGING LIFESTYLE. LICENSED NURSES AND NURSING ASSISTANTS ARE AVAILABLE ANY TIME OF DAY OR NIGHT TO PROVIDE PERSONAL, MEDICAL AND EMERGENCY CARE. AN EMERGENCY CALL SYSTEM IS IN EACH BEDROOM AND BATHROOM, SHOULD A MEDICAL NEED ARISE. RESIDENTS CAN ALSO EASILY TRANSITION BETWEEN THE SHANNONDALE HEALTH CARE CENTER AND ASSISTED LIVING CENTER WHEN AN INCREASED LEVEL OF MEDICAL CARE IS NEEDED. RESIDENTS LIVE AN INDEPENDENT LIFESTYLE WITH ALL THE AMENITIES NEEDED TO MAKE LIFE AS EASY AND CAREFREE AS POSSIBLE. THREE DELICIOUS MEALS ARE SERVED EACH DAY IN THE BEAUTIFUL DINING ROOM AND WEEKLY HOUSEKEEPING IS OFFERED SO RESIDENTS CAN SPEND TIME PURSUING HOBBIES OR VISITING WITH FRIENDS. A FULL CALENDAR OF WELLNESS AND SOCIAL ACTIVITIES ARE PROVIDED BY THE CARING AND EXPERIENCED STAFF SO RESIDENTS CAN DESIGN THEIR OWN DAY.

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Melinda Booker

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Rebecca Criswell

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Joe Colquitt

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Roy Michael Dalton

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Stuart Craig Jarvis

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Deborah Jones

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Dale Keasling

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Sandra Martin

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Michael Miller

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Susan Seagraves

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Charles West

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Todd Taylor

    PRESIDENT/CEO (FORMER)

    Total calculated
    $249,210
    From this org
    $249,210
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $247,824
    Bonus
    $0
    Other
    $1,386
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $249,210

  • Keith McCord

    VICE PRESIDENT

    Total calculated
    $179,339
    From this org
    $166,039
    From related orgs
    $0
    Other
    $13,300
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $165,556
    Bonus
    $0
    Other
    $483
    Deferred
    $0
    Nontaxable benefits
    $13,300
    Filer's total
    $179,339

  • Erik Hockman

    CHIEF FINANCIAL OFFICER

    Total calculated
    $138,758
    From this org
    $126,688
    From related orgs
    $0
    Other
    $12,070
    Hours/week
    40

  • Wynn Shelton

    DIRECTOR OF PHARMACY

    Total calculated
    $143,506
    From this org
    $135,263
    From related orgs
    $0
    Other
    $8,243
    Hours/week
    40

  • Clay Fiegle

    DIRECTOR OF REHAB

    Total calculated
    $130,719
    From this org
    $116,766
    From related orgs
    $0
    Other
    $13,953
    Hours/week
    40

  • Sandra Franklin

    DIRECTOR OF NURSING

    Total calculated
    $124,435
    From this org
    $116,192
    From related orgs
    $0
    Other
    $8,243
    Hours/week
    40

  • Deanna Evans

    OCCUPATIONAL THERAPIST

    Total calculated
    $104,093
    From this org
    $104,093
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Melissa Stuart

    RN

    Total calculated
    $117,266
    From this org
    $102,008
    From related orgs
    $0
    Other
    $15,258
    Hours/week
    40

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 · Independent compensation consultant
  • 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.

Provenance

Return type
form_990
Tax year
2022
Filed
13 November 2023
IRS schema version
2022v5.0
Source object
202323179349309012

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