Civic Intelligence

Transforming Age

990 • Fiscal year 2023 • EIN 32-0672552

Oct 01, 2022 to Sep 30, 2023 • Filed on Aug 13, 2024

Refreshing map…

1980 112th Avenue 210Bellevue, WA 98004

(425) 559-6301

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Down

-$103,544,076

Down $103,544,076 from 2022

Net Assets

Down

-$104,415,676

Down $104,415,676 from 2022

Liabilities

Up

$871,600

Up $871,600 from 2022

Revenue And Expenses

Revenue

Up

$10,513,034

Up $10,513,034 from 2022

Expenses

Up

$115,771,543

Up $115,771,543 from 2022

Net Income

Down

-$105,258,509

Down $105,258,509 from 2022

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$50M$0-$50M-$100M-$150MAssets 2022: $0Liabilities 2022: $0Net Assets 2022: $02022Assets 2023: -$103,544,076Liabilities 2023: $871,600Net Assets 2023: -$104,415,6762023Assets 2023: -$98,147,019Liabilities 2023: $4,368,249Net Assets 2023: -$102,515,2682023Assets 2024: $28,714,675Liabilities 2024: $6,768,545Net Assets 2024: $21,946,1302024

Highlighted filing

2023

Assets-$103,544,076
Liabilities$871,600
Net Assets-$104,415,676

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$200M$100M$0-$100M-$200MRevenue 2022: $0Expenses 2022: $0Net Income 2022: $02022Revenue 2023: $10,513,034Expenses 2023: $115,771,543Net Income 2023: -$105,258,5092023Revenue 2023: $12,324,048Expenses 2023: $115,682,149Net Income 2023: -$103,358,1012023Revenue 2024: $12,566,071Expenses 2024: $16,207,724Net Income 2024: -$3,641,6532024

Highlighted filing

2023

Revenue$10,513,034
Expenses$115,771,543
Net Income-$105,258,509
Jump To
Filing Snapshot
Filing Period
Oct 1, 2022 to Sep 30, 2023
Signed
Aug 13, 2024
Return Version
2022v5.0
Gross Receipts
$13,119,001
Mission and Program Overview

Mission

To develop and provide strategic direction to, manage the employees of, and otherwise engage in activities to support presbyterian retirement communities northwest ("prcn") and those organizations described in section 501(c)(3) that are related to prcn through common control.

Provide support to subsidiary organizations.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities-$5,042,287-
Other Notes and Loans Receivable, Net-$4,876,498-
Accounts Receivable-$4,125,676-
Cash and Non-Interest-Bearing Accounts-$707,921-
Land, Buildings, and Equipment, Net$0$562,478▲ $562,478
Prepaid Expenses and Deferred Charges-$114,414-
Inventories for Sale or Use-$6,972-
Investments Program Related-$-128,098,622-
Other Assets Total$0$9,118,300▲ $9,118,300
Total Assets$0$-103,544,076▼ $103,544,076
Liabilities
Accounts Payable and Accrued Expenses-$620,447-
Mortgage Notes Payable Secured by Investment Property-$251,153-
Total Liabilities$0$871,600▲ $871,600
Net Assets / Fund Balance
Net Assets Without Donor Restrictions-$-104,415,676-
Total Net Assets Fund Balance$0$-104,415,676▼ $104,415,676
Total Liabilities and Net Assets / Fund Balance$0$-103,544,076▼ $103,544,076

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$251,299$93,896$345,195
Other Land Buildings$251,670-$251,670
Equipment$59,509$15,179$74,688
Other Assets Org$9,118,300--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeOtherTotal
Michelle LukeSecretaryPT$105,450$105,450

Board Members and Trustees

NameTitle
Scott LumsdenChair & Director
Torsten HirchePresident & CEO
Jesse BondDirector & Vice Chair
Mary WagnerVice Chair & Chair
Barb BennettDirector
Cathy DanigelisDirector
Greg RussellDirector
Jim MelhornDirector
Karin MillerDirector
Lisa NelsonDirector
John IwanskiDirector (through October 2022)
Michael ConnellTreasurer & CFO
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$10,270,220
Investment Income
$44,990
Other Revenue
$197,824
Change in Net Assets
$-105,258,509
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$59,453,722
Other Expenses$45,617,442
Salaries, Compensation, and Employee Benefits$10,700,379
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$59,453,722--$59,453,722
Other Salaries and Wages$8,109,392--$8,109,392
Current Officers, Directors, Trustees, and Key Employees$1,409,684--$1,409,684
Fees for Services Other$1,113,265--$1,113,265
Office Expenses$810,440--$810,440
Payroll Taxes$729,565--$729,565
Interest$341,775--$341,775
Fees for Services Legal$253,139--$253,139
Pension Plan Contributions$253,067--$253,067
Other Employee Benefits$198,671--$198,671
Other Expenses$189,189--$189,189
All Other Expenses$142,418--$142,418
Occupancy$109,949--$109,949
Depreciation Depletion$109,075--$109,075
Fees for Services Accounting$108,680--$108,680
Insurance$94,689--$94,689
Fees for Service Investment Mgmnt Fees$21,880--$21,880
Advertising$647--$647
Total Functional Expenses$115,771,543$0$0$115,771,543
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Presbyterian Retirement Communities NorthwestBellevue, WA501(c)(3)General Operating Support$58,932,084
Vashon Island Community CareBellevue, WA501(c)(3)General Operating Support$521,638
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

All management functions are provided by employees of presbyterian retirement communities northwest.

Form 990, Part VI, Section B, Line 11B

The form was reviewed by the controller and the cfo. It was then provided to the board for review before filing.

Form 990, Part VI, Section B, Line 12C

The conflict of interest policy applies to all board members, officers and employees. Annually, a conflict of interest form is distributed to the board of directors and officers. The president & ceo reviews the completed forms and identifies whether any conflicts exist. Any actual or perceived conflict of interest of any governing board member or officer is disclosed to the other board members or highest level of management (president & ceo) and made a matter of record at the soonest possible time. Any governing board member having a possible conflict of interest may not vote or use personal influence on the matter, and is not counted in determining the quorum for the meeting, even where permitted by law. The minutes of the meeting reflect that disclosure was made, the abstention from voting, and the quorum.

Form 990, Part VI, Section B, Line 15A

The board uses an independent compensation consultant and compensation survey to annually determine the ceo's compensation. The ceo is responsible for conducting the review of other officers' compensation. Compensation was last reviewed in 2022.

Form 990, Part VI, Section C, Line 19

The governing documents, conflict of interest policy, and financial statements are available to the public upon request.

FORM 990, PART VII, SECTION A:

The officers that have compensation presented in part vii, section a of the form 990 provide executive management support and overall guidance to transforming age and its related and supported affiliates. The entire transforming age system serves approximately 14,000 people in senior and affordable housing and community-based services, employs 2,100 employees, generates $155 million in total annual revenue and has $718 million in total assets.

Filing and Contact Details

Filer

Filer Name
Transforming Age
EIN
32-0672552
Phone
4255596301
Address
1980 112TH AVENUE 210, BELLEVUE, WA 98004

Signing Officer

Name
Michael Connell
Title
Treasurer & CFO
Phone
4255596301
Signed
2024-08-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Torsten Hirche
Formed
2019
Legal Domicile
Wa
Voting Board Members
10
Independent Board Members
9
Employees
0
Volunteers
10

Preparer

Firm
Cliftonlarsonallen Llp
Address
10700 NORTHUP WAY SUITE 200, BELLEVUE, WA 98004
Preparer
Kurt Bennion CPA
Phone
4252506100
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

Transforming age has been notified by the internal revenue service (irs) that it is exempt from federal income taxes under section 501(c)(3) of the internal revenue code. Income from activities not directly related to the organization's tax-exempt purpose is subject to taxation as unrelated business income. There were no taxes paid on unrelated business income for the years ended sepetember 30, 2023 and 2022.

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT & CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt1TREASURER & CFO
IRS990/Form990PartVIISectionAGrp/TitleTxt2SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt3CHAIR & DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4VICE CHAIR & CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR & VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
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IRS990/OtherExpensesGrp/ProgramServicesAmt2267598
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IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ProgramServicesAmt0729565
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IRS990/PensionPlanContributionsGrp/ProgramServicesAmt0253067
IRS990/PensionPlanContributionsGrp/TotalAmt0253067
IRS990/PoliciesReferenceChaptersInd01
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0114414
IRS990/PrincipalOfficerNm0TORSTEN HIRCHE
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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0THE ORGANIZATION'S ARTICLES OF INCORPORATION STATE THAT TRANSFORMING AGE'S PURPOSE IS "TO DEVELOP AND PROVIDE STRATEGIC DIRECTION TO, MANAGE THE OFFICERS AND EMPLOYEES OF, AND OTHERWISE ENGAGE IN ACTIVITIES TO SUPPORT PRESBYTERIAN RETIREMENT COMMUNITIES NORTHWEST ("PRCN")... AND THOSE ORGANIZATIONS DESCRIBED IN SECTION 501(C)(3) OF THE CODE THAT ARE RELATED TO PRCN THROUGH COMMON CONTROL." THE ORGANIZATIONS LISTED IN PART I, LINE 12G ARE ALL CONTROLLED BY PRCN THROUGH OVERLAPPING BOARD MEMBERS AND/OR POWER TO APPOINT THE ORGANIZATION'S BOARD MEMBERS.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART IV, SECTION A, LINE 1:
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IRS990ScheduleA/SupportedOrgInformationGrp/OtherSupportAmt30
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IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt37122034
IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt42838902
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