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Nonprofiteer
← KENDAL AT HANOVER I

Form 990 for tax year 2024

Filed by KENDAL AT HANOVER I.

Totals

Total revenue
$42,098,589
Total expenses
$37,615,106
Contributions and grants received
$653,013
Grants paid
$134,967
Program service revenue
$38,137,369
Investment income
$2,361,982
Other revenue
$946,225
Total assets, end of year
$212,186,782
Total liabilities, end of year
$136,625,966
Net assets or fund balances, end of year
$75,560,816
Program services expenses (Part IX)
$32,214,359
Management and general expenses
$5,400,747
Fundraising expenses
$0
Program service expenses (Part III)
$32,214,359

Program services were 85.6% 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.

  • 1a · Federated campaigns

    $0

  • 1b · Membership dues

    $0

  • 1c · Fundraising events

    $0

  • 1d · Related organizations

    $0

  • 1e · Government grants (contributions)

    $0

  • 1f · All other contributions, gifts and grants

    $653,013

  • 1g · Noncash contributions included above

    $0

  • 2a · Program service revenue: Resident Fees - Apartments

    total $19,769,562 · related or exempt $19,769,562 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: Resident Fees - Healthcare

    total $7,322,656 · related or exempt $7,322,656 · unrelated business $0 · excluded $0

  • 2c · Program service revenue: Amortization of Entry Fees

    total $11,045,151 · related or exempt $11,045,151 · unrelated business $0 · excluded $0

  • 2f · All other program service revenue

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

  • 3 · Investment income

    total $2,353,353 · related or exempt $2,353,353 · unrelated business $0 · excluded $0

  • 4 · Income from investment of tax-exempt bond proceeds

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

  • 5 · Royalties

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

  • 6a · Gross rents

    real property $47,196 · personal property $0

  • 6b · Less rental expenses

    real property $0 · personal property $0

  • 6c · Rental income or loss

    real property $47,196 · personal property $0

  • 6d · Net rental income or loss

    total $47,196 · related or exempt $0 · unrelated business $0 · excluded $47,196

  • 7a · Gross sales of assets other than inventory

    securities $28,773 · other assets $7,970

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

    securities $18,677 · other assets $9,437

  • 7c · Gain or loss

    securities $10,096 · other assets -$1,467

  • 7d · Net gain or loss

    total $8,629 · related or exempt $0 · unrelated business $0 · excluded $8,629

  • 8a · Fundraising events: gross income

    $0

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

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0 · unrelated business $0 · excluded $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

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

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

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

  • 11a · Other revenue: Child Day Care Income

    total $384,660 · related or exempt $384,660 · unrelated business $0 · excluded $0

  • 11b · Other revenue: Net Assets released from Restriction

    total $190,431 · related or exempt $190,431 · unrelated business $0 · excluded $0

  • 11c · Other revenue: Pension Settlement

    total $78,327 · related or exempt $78,327 · unrelated business $0 · excluded $0

  • 11d · All other revenue

    total $245,611 · related or exempt $245,611 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $899,029

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $0 · program services $0

  • 2 · Grants to domestic individuals

    total $134,967 · program services $134,967

  • 3 · Grants to foreign organizations and individuals

    total $0 · program services $0

  • 4 · Benefits paid to or for members

    total $0 · program services $0

  • 5 · Compensation of officers, directors and key employees

    total $723,818 · program services $0 · management and general $723,818 · fundraising $0

  • 6 · Compensation of disqualified persons

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 7 · Other salaries and wages

    total $14,178,590 · program services $12,388,621 · management and general $1,789,969 · fundraising $0

  • 8 · Pension plan contributions

    total $556,347 · program services $0 · management and general $556,347 · fundraising $0

  • 9 · Other employee benefits

    total $2,494,658 · program services $2,494,658 · management and general $0 · fundraising $0

  • 10 · Payroll taxes

    total $984,114 · program services $815,404 · management and general $168,710 · fundraising $0

  • 11a · Fees: management

    total $73,754 · program services $28,636 · management and general $45,118 · fundraising $0

  • 11b · Fees: legal

    total $44,257 · program services $0 · management and general $44,257 · fundraising $0

  • 11c · Fees: accounting

    total $69,660 · program services $0 · management and general $69,660 · fundraising $0

  • 11d · Fees: lobbying

    total $0 · management and general $0 · fundraising $0

  • 11e · Fees: professional fundraising services

    total $0 · fundraising $0

  • 11f · Fees: investment management

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11g · Fees: other

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 12 · Advertising and promotion

    total $10,518 · program services $0 · management and general $10,518 · fundraising $0

  • 13 · Office expenses

    total $362,775 · program services $45,516 · management and general $317,259 · fundraising $0

  • 14 · Information technology

    total $478,965 · program services $0 · management and general $478,965 · fundraising $0

  • 15 · Royalties

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 16 · Occupancy

    total $5,063,414 · program services $5,063,414 · management and general $0 · fundraising $0

  • 17 · Travel

    total $182,952 · program services $99,797 · management and general $83,155 · fundraising $0

  • 18 · Travel or entertainment for public officials

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 19 · Conferences, conventions and meetings

    total $115,806 · program services $26,862 · management and general $88,944 · fundraising $0

  • 20 · Interest

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 21 · Payments to affiliates

    total $992,496 · program services $0 · management and general $992,496 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $6,856,024 · program services $6,856,024 · management and general $0 · fundraising $0

  • 23 · Insurance

    total $667,920 · program services $667,920 · management and general $0 · fundraising $0

  • 24a · Other expenses: Repairs & Maintenance

    total $835,152 · program services $803,621 · management and general $31,531 · fundraising $0

  • 24b · Other expenses: Food Costs

    total $1,597,921 · program services $1,597,921 · management and general $0 · fundraising $0

  • 24c · Other expenses: Staff Recruitment

    total $75,041 · program services $75,041 · management and general $0 · fundraising $0

  • 24d · Other expenses: Health Center Related Costs & Other

    total $1,115,957 · program services $1,115,957 · management and general $0 · fundraising $0

  • 24e · All other expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,639 · end of year $1,639

  • 2 · Savings and temporary cash investments

    beginning of year $3,757,857 · end of year $7,589,185

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $2,862,565 · end of year $4,249,716

  • 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

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $185,975 · end of year $167,541

  • 9 · Prepaid expenses and deferred charges

    beginning of year $524,873 · end of year $505,132

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

    $211,118,885

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

    $94,526,385

  • 10c · Land, buildings and equipment, net

    beginning of year $117,075,929 · end of year $116,592,500

  • 11 · Investments: publicly traded securities

    beginning of year $73,058,938 · end of year $81,428,159

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $1,492,703 · end of year $1,652,910

  • 17 · Accounts payable and accrued expenses

    beginning of year $4,685,702 · end of year $5,267,842

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $77,504,559 · end of year $81,162,396

  • 20 · Tax-exempt bond liabilities

    beginning of year $50,647,828 · end of year $49,003,924

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    end of year $0

  • 24 · Unsecured notes and loans payable

    end of year $0

  • 25 · Other liabilities

    beginning of year $1,176,524 · end of year $1,191,804

  • 27 · Net assets without donor restrictions

    beginning of year $52,660,110 · end of year $61,639,356

  • 28 · Net assets with donor restrictions

    beginning of year $12,285,756 · end of year $13,921,460

Mission and programs · 2024

Mission

Kendal at Hanover is a not-for-profit continuing care retirement community characterized by mutual respect, integrity and a concern for each other's welfare that fosters the independence, vitality, health and security of older persons and in which residents and staff may exercise their talents in a supportive environment. Specifically, our mission states: "Together, transforming the experience of aging."

  • Operation of a Continuing Care Retirement Community for 412 older adults consisting of 250 independent living residences, a community center, a health center and 107 licensed supported residential health care beds. On-site clinic provided primary care to 412 of our residents and the health center provided 31,638 days of care at various levels. Maintained an independent living occupancy rate of 95.21%.

    Expenses $32,172,977 · Grants $134,967 · Revenue $38,382,980

  • Education reimbursement given to 19 employees over the year for continuing education.

    Expenses $41,382 · Grants $41,382

  • n/a

As filed on the 2024 return.

Listed in Part VII

  • Beth Vettori

    Chief Executive Officer

    Total calculated
    $325,741
    From this org
    $307,033
    From related orgs
    $0
    Other
    $18,708
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $288,325
    Bonus
    $0
    Other
    $0
    Deferred
    $18,708
    Nontaxable benefits
    $5,579
    Filer's total
    $312,612

  • Brent B Edgerton

    Chief Financial Officer

    Total calculated
    $272,247
    From this org
    $229,080
    From related orgs
    $0
    Other
    $43,167
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $185,913
    Bonus
    $0
    Other
    $0
    Deferred
    $43,167
    Nontaxable benefits
    $12,712
    Filer's total
    $241,792

  • David Urso

    Chief Operating Officer

    Total calculated
    $187,853
    From this org
    $168,806
    From related orgs
    $0
    Other
    $19,047
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $149,760
    Bonus
    $0
    Other
    $0
    Deferred
    $19,047
    Nontaxable benefits
    $13,434
    Filer's total
    $182,241

  • Rebecca Daniels

    Director of Healthcare Operations

    Total calculated
    $175,243
    From this org
    $166,306
    From related orgs
    $0
    Other
    $8,937
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $157,369
    Bonus
    $0
    Other
    $0
    Deferred
    $8,937
    Nontaxable benefits
    $12,934
    Filer's total
    $179,240

  • Robert B Jones

    Information Technology Director

    Total calculated
    $162,478
    From this org
    $146,962
    From related orgs
    $0
    Other
    $15,516
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $131,446
    Bonus
    $0
    Other
    $0
    Deferred
    $15,516
    Nontaxable benefits
    $12,834
    Filer's total
    $159,796

  • Jeffrey Roosevelt

    Director of Community Relations & Marketing

    Total calculated
    $160,187
    From this org
    $145,527
    From related orgs
    $0
    Other
    $14,660
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $130,868
    Bonus
    $0
    Other
    $0
    Deferred
    $14,660
    Nontaxable benefits
    $1,510
    Filer's total
    $147,038

  • Yan Song

    Registered Nurse

    Total calculated
    $158,124
    From this org
    $149,001
    From related orgs
    $0
    Other
    $9,123
    Hours/week
    56.3

    Schedule J breakdown matched by us

    Base
    $139,878
    Bonus
    $0
    Other
    $0
    Deferred
    $9,123
    Nontaxable benefits
    $3,299
    Filer's total
    $152,300

  • Melissa M Perreault

    Licensed Practical Nurse

    Total calculated
    $139,082
    From this org
    $133,613
    From related orgs
    $0
    Other
    $5,469
    Hours/week
    54.1

  • Riann Chrimes

    Controller/Incoming CFO

    Total calculated
    $123,280
    From this org
    $117,971
    From related orgs
    $0
    Other
    $5,309
    Hours/week
    50

  • Nancy K Carroll

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Robert Kline-Schoder

    Vice Chair

    Total calculated
    $0
    Hours/week
    1

  • Tom Corindia

    Treasurer

    Total calculated
    $0
    Hours/week
    1

  • Judy Csatari

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Suzanne Elusorr

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Sean Gorman

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Ruth Lappin

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Lisabeth Maloney

    Chair

    Total calculated
    $0
    Hours/week
    1

  • Nancy Marion

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Bridget Mudge

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Eric Shirley

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Margaret Rightmire

    Secretary

    Total calculated
    $0
    Hours/week
    1

  • Anant Sundaram

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • George Rupp

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Lisa Celone

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Robert Hansen

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Mike Parisi

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Jay Pierson

    Secretary (Left in June 2024)

    Total calculated
    $0
    Hours/week
    1

  • Jennifer Casey

    Board Member (Left in June 2024)

    Total calculated
    $0
    Hours/week
    1

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

  • 3 · Form 990 of other organizations
  • 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.

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.

Provenance

Return type
form_990
Tax year
2024
Filed
12 May 2025
IRS schema version
2024v5.0
Source object
202541329349301824

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