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Nonprofiteer
← GREENCASTLE OF PALATINE INC

Form 990 for tax year 2024

Filed by GREENCASTLE OF PALATINE INC.

Totals

Total revenue
$1,051,134
Total expenses
$1,070,008
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$1,044,097
Investment income
$3,912
Other revenue
$3,125
Total assets, end of year
$2,751,048
Total liabilities, end of year
$74,923
Net assets or fund balances, end of year
$2,676,125
Program services expenses (Part IX)
$970,094
Management and general expenses
$99,914
Fundraising expenses
$0
Program service expenses (Part III)
$970,094

Program services were 90.7% 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: TENANT ASSISTANCE PAYM

    total $812,154 · related or exempt $812,154

  • 2b · Program service revenue: RENTAL REVENUE

    total $231,943 · related or exempt $231,943

  • 3 · Investment income

    total $3,912 · related or exempt $3,912

  • 11a · Other revenue: LAUNDRY & VENDING

    total $2,622 · related or exempt $2,622

  • 11b · Other revenue: TENANT CHARGES

    total $65 · related or exempt $65

  • 11d · All other revenue

    total $438 · related or exempt $438

  • 11e · Other revenue, total

    $3,125

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $279,062 · program services $279,062

  • 9 · Other employee benefits

    total $88,578 · program services $88,578

  • 10 · Payroll taxes

    total $24,508 · program services $24,508

  • 11a · Fees: management

    total $80,318 · management and general $80,318

  • 11c · Fees: accounting

    total $19,451 · management and general $19,451

  • 12 · Advertising and promotion

    total $168 · program services $168

  • 13 · Office expenses

    total $18,156 · program services $18,156

  • 14 · Information technology

    total $6,248 · program services $6,248

  • 16 · Occupancy

    total $124,664 · program services $124,664

  • 17 · Travel

    total $297 · program services $297

  • 19 · Conferences, conventions and meetings

    total $7,967 · program services $7,967

  • 22 · Depreciation, depletion and amortization

    total $200,716 · program services $200,716

  • 23 · Insurance

    total $63,480 · program services $63,480

  • 24a · Other expenses: REPAIRS & MAINTENANCE

    total $132,342 · program services $132,342

  • 24b · Other expenses: SUPPORTING SERVICES

    total $14,148 · program services $14,148

  • 24c · Other expenses: LEASING EXPENSE

    total $4,799 · program services $4,799

  • 24d · Other expenses: DUES & SUBSCRIPTIONS

    total $2,783 · program services $2,783

  • 24e · All other expenses

    total $2,323 · program services $2,178 · management and general $145

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,585 · end of year $14,521

  • 4 · Accounts receivable

    beginning of year $69,836 · end of year $5,393

  • 9 · Prepaid expenses and deferred charges

    beginning of year $24,177 · end of year $39,304

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

    $6,375,325

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

    $4,436,258

  • 10c · Land, buildings and equipment, net

    beginning of year $2,124,863 · end of year $1,939,067

  • 15 · Other assets

    beginning of year $519,760 · end of year $752,763

  • 17 · Accounts payable and accrued expenses

    beginning of year $19,128 · end of year $46,570

  • 25 · Other liabilities

    beginning of year $26,094 · end of year $28,353

  • 27 · Net assets without donor restrictions

    beginning of year -$2,513,901 · end of year -$2,532,775

  • 28 · Net assets with donor restrictions

    beginning of year $5,208,900 · end of year $5,208,900

Mission and programs · 2024

Mission

GREENCASTLE OF PALATINE WAS INCORPORATED AS A NOT-FOR-PROFIT CORPORATION IN THE STATE OF ILLINOIS IN 1989_ IT WAS FORMED TO ACQUIRE LAND AND CONSTRUCT BUILDINGS TO HOUSE LOW- INCOME ELDERLY AND HANDICAPPED PERSONS AS DEFINED BY THE NATIONAL HOUSING ACT OF 1959. OUR MISSION IS TO PROVIDE ACTIVELY-AGING ADULTS AFFORDABLE, WELCOMING HOMES IN COMMUNITIES THAT EMBRACE LIVING.

Activities or mission (Part I)

TO PROVIDE ACTIVELY AGING ADULTS AFFORDABLE WELCOMING HOMES IN COMMUNITIES THAT EMBRACE LIVING.

  • TO PROVIDE ACTIVELY AGING ADULTS AFFORDABLE WELCOMING HOMES IN COMMUNITIES THAT EMBRACE LIVING

    Expenses $970,094 · Revenue $1,047,222

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Scott Meyer

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2

  • Ruth Carlson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2

  • Karen Latimer-Horstheake

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2

  • Tonya Pitts

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2

  • Irv Woods

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2

  • Robert Gamrath

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2

  • J Paul Bertsche

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2

  • Ralph Gaines

    PRESIDENT & CEO

    Total calculated
    $422,211
    From this org
    $0
    From related orgs
    $371,596
    Other
    $50,615
    Hours/week
    0.2 + 39.8 related

    Schedule J breakdown matched by us

    Base
    $0 + $371,596 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $13,800 related
    Nontaxable benefits
    $0 + $36,815 related
    Filer's total
    $0 + $422,211 related

  • Anne M Oliva

    EXECUTIVE VICE PRESIDENT &

    Total calculated
    $236,913
    From this org
    $0
    From related orgs
    $214,166
    Other
    $22,747
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $214,166 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $8,513 related
    Nontaxable benefits
    $0 + $14,234 related
    Filer's total
    $0 + $236,913 related

  • Gary Adams

    DIRECTOR OF OPERATIONS

    Total calculated
    $145,325
    From this org
    $0
    From related orgs
    $116,071
    Other
    $29,254
    Hours/week
    0.2 + 39.8 related

  • Alina Serban

    CHIEF OF STAFF

    Total calculated
    $139,821
    From this org
    $0
    From related orgs
    $101,464
    Other
    $38,357
    Hours/week
    1 + 40 related

  • Jennifer Truppa

    DIRECTOR OF SOCIAL SERVICE

    Total calculated
    $160,134
    From this org
    $0
    From related orgs
    $119,654
    Other
    $40,480
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $119,654 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $4,895 related
    Nontaxable benefits
    $0 + $35,585 related
    Filer's total
    $0 + $160,134 related

  • Dawn Zenkner

    CONTROLLER

    Total calculated
    $155,445
    From this org
    $0
    From related orgs
    $112,421
    Other
    $43,024
    Hours/week
    0.2 + 39.8 related

    Schedule J breakdown matched by us

    Base
    $0 + $112,421 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $4,526 related
    Nontaxable benefits
    $0 + $38,498 related
    Filer's total
    $0 + $155,445 related

  • Ed Havlovic

    DIRECTOR OF PLANT OPERATIO

    Total calculated
    $134,566
    From this org
    $0
    From related orgs
    $106,816
    Other
    $27,750
    Hours/week
    1 + 40 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

  • 3 · Written employment contract
  • 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

The filer's explanations (Part III)

SCHEDULE J, PART I, LINE 3
THE BOARD OF DIRECTORS OF EMBRACE LIVING COMMUNITIES AND AFFILIATES APPOINTS THE PRESIDENT & CEO AND THE CFO AND DETERMINES THEIR COMPENSATION. THE METHOD USED TO ESTABLISH THE COMPENSATION FOR THE PRESIDENT & CEO AND THE CFO, RECEIVED FROM RELATED ORGANIZATIONS, INCLUDE A COMPENSATION COMMITTEE, INDEPENDENT COMPENSATION CONSULTANT, FORM 990 OF OTHER SIMILAR ORGANIZATIONS. THE PROCESS INCLUDES A WRITTEN EMPLOYMENT CONTRACT, COMPENSATION SURVEY AND/OR STUDY AND APPROVAL BY THE COMPENSATION COMMITTEE AND THE BOARD.

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 partnerships

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

  • ANCHOR SENIOR LIVING 2021 LP

    RENTAL SENIOR · IL

  • GREENWOOD SENIOR LIVING 2021 LP

    RENTAL SENIOR · IL

  • GROVE SENIOR LIVING 2021 LP

    RENTAL SENIOR · IL

  • OASIS SENIOR LIVING 2021 LP

    RENTAL SENIOR · IL

Related corporations and trusts

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

  • ANCHOR SENIOR LIVING 2021 GP LLC

    C · RENTAL SENIOR · IL

  • GREENWOOD SENIOR LIVING 2021 GP LLC

    C · RENTAL SENIOR · IL

  • GROVE SENIOR LIVING 2021 GP LLC

    C · RENTAL SENIOR · IL

  • OASIS SENIOR LIVING 2021 GP LLC

    C · RENTAL SENIOR · IL

Provenance

Return type
form_990
Tax year
2024
Filed
28 July 2025
IRS schema version
2024v5.2
Source object
202522119349300872

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