Civic Intelligence

Springmoor Inc.

990 • Fiscal year 2023 • EIN 56-1368256

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 13, 2024

Organization ProfileWWW.SPRINGMOOR.ORG
1500 Sawmill RoadRaleigh, NC 27615

(919) 848-7000

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

96th percentile

1.22x

Higher debt load relative to assets than 96% of similar nonprofits.

2023 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2023

Liabilities / Revenue

87th percentile

3.22x

Higher debt load relative to revenue than 87% of similar nonprofits.

2023 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2023

Net Margin

24th percentile

-5.1%

Higher net margin than 24% of similar nonprofits.

2023 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2023

Top Officer Pay

5th percentile

$450

Higher top officer pay than 5% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2023 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2023

Asset Growth

18th percentile

-2.4%

Faster asset growth than 18% of similar nonprofits.

2023 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2022 to 2023

Revenue Growth

50th percentile

4.3%

Faster revenue growth than 50% of similar nonprofits.

2023 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets96th percentile

Assets

Down

$111,795,876

Down $2,717,747 (-2.4%) from 2022

Net Assets

Down

-$25,015,524

Down $180,257 (-0.7%) from 2022

Liabilities

Down

$136,811,400

Down $2,537,490 (-1.8%) from 2022

Revenue And Expenses
Liabilities / Revenue87th percentileNet Margin24th percentile

Revenue

Up

$42,539,253

Up $1,738,421 (+4.3%) from 2022

Expenses

Up

$44,719,921

Up $4,016,873 (+9.9%) from 2022

Net Income

Down

-$2,180,668

Down $2,278,452 (-2330%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth18th percentile

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

$150M$100M$50M$0-$50MAssets 2011: $54,962,343Liabilities 2011: $36,694,927Net Assets 2011: $18,267,4162011Assets 2012: $55,460,292Liabilities 2012: $36,813,415Net Assets 2012: $18,646,8772012Assets 2013: $57,732,602Liabilities 2013: $38,783,724Net Assets 2013: $18,948,8782013Assets 2014: $57,871,632Liabilities 2014: $68,280,887Net Assets 2014: -$10,409,2552014Assets 2015: $59,203,023Liabilities 2015: $70,749,333Net Assets 2015: -$11,546,3102015Assets 2016: $57,683,959Liabilities 2016: $73,457,646Net Assets 2016: -$15,773,6872016Assets 2017: $58,716,030Liabilities 2017: $75,339,431Net Assets 2017: -$16,623,4012017Assets 2018: $58,013,105Liabilities 2018: $76,468,604Net Assets 2018: -$18,455,4992018Assets 2019: $58,513,591Liabilities 2019: $77,096,553Net Assets 2019: -$18,582,9622019Assets 2020: $58,547,954Liabilities 2020: $75,692,383Net Assets 2020: -$17,144,4292020Assets 2021: $57,744,266Liabilities 2021: $76,959,914Net Assets 2021: -$19,215,6482021Assets 2022: $114,513,623Liabilities 2022: $139,348,890Net Assets 2022: -$24,835,2672022Assets 2023: $111,795,876Liabilities 2023: $136,811,400Net Assets 2023: -$25,015,5242023Assets 2024: $111,805,869Liabilities 2024: $137,055,911Net Assets 2024: -$25,250,0422024

Highlighted filing

2023

Assets$111,795,876
Liabilities$136,811,400
Net Assets-$25,015,524
Open 2023 Filing

Operations Trend

Revenue Growth50th percentile

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

$60M$40M$20M$0-$20MRevenue 2011: $35,055,613Expenses 2011: $31,694,641Net Income 2011: $3,360,9722011Revenue 2012: $33,140,587Expenses 2012: $32,761,126Net Income 2012: $379,4612012Revenue 2013: $34,563,917Expenses 2013: $34,261,916Net Income 2013: $302,0012013Revenue 2014: $34,541,453Expenses 2014: $36,232,591Net Income 2014: -$1,691,1382014Revenue 2015: $35,978,308Expenses 2015: $37,115,363Net Income 2015: -$1,137,0552015Revenue 2016: $33,625,691Expenses 2016: $37,853,068Net Income 2016: -$4,227,3772016Revenue 2017: $36,082,815Expenses 2017: $36,932,529Net Income 2017: -$849,7142017Revenue 2018: $38,503,859Expenses 2018: $37,404,507Net Income 2018: $1,099,3522018Revenue 2019: $38,535,108Expenses 2019: $38,662,571Net Income 2019: -$127,4632019Revenue 2020: $38,045,737Expenses 2020: $36,607,204Net Income 2020: $1,438,5332020Revenue 2021: $37,768,204Expenses 2021: $39,842,573Net Income 2021: -$2,074,3692021Revenue 2022: $40,800,832Expenses 2022: $40,703,048Net Income 2022: $97,7842022Revenue 2023: $42,539,253Expenses 2023: $44,719,921Net Income 2023: -$2,180,6682023Revenue 2024: $44,919,208Expenses 2024: $45,153,726Net Income 2024: -$234,5182024

Highlighted filing

2023

Revenue$42,539,253
Expenses$44,719,921
Net Income-$2,180,668
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 13, 2024
Return Version
2023v5.0
Gross Receipts
$42,539,253
Mission and Program Overview

Mission

Springmoor is a nationally accredited full service life care retirement community designed to emphasize independent living, dignity, security, and peace of mind. It offers a wide range of residences, services, amenities and comprehensive health care. Springmoor is designed to provide active, independent retirement living while providing for existing and future health and personal care needs. Springmoor's health care program gives each resident a strong sense of security, life with dignity, lifetime care, personal safety and financial security, as well as interaction and companionship with many fine neighbors who have common interests.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$35,320,296$35,320,296→ $0
Land, Buildings, and Equipment, Net$17,771,558$19,870,339▲ $2,098,781
Savings and Temporary Cash Investments$8,286,180$7,594,508▼ $691,672
Accounts Receivable$371,305$330,134▼ $41,171
Prepaid Expenses and Deferred Charges$186,747$213,519▲ $26,772
Inventories for Sale or Use$5,930$5,883▼ $47
Total Assets$114,513,623$111,795,876▼ $2,717,747
Other Assets Total$52,571,607$48,461,197▼ $4,110,410
Liabilities
Other Liabilities$108,367,041$105,873,390▼ $2,493,651
Deferred Revenue$29,469,254$29,863,259▲ $394,005
Accounts Payable and Accrued Expenses$1,512,595$1,074,751▼ $437,844
Total Liabilities$139,348,890$136,811,400▼ $2,537,490
Net Assets / Fund Balance
Net Assets With Donor Restrictions$3,041$2,741▼ $300
Net Assets Without Donor Restrictions$-24,838,308$-25,018,265▼ $179,957
Total Net Assets Fund Balance$-24,835,267$-25,015,524▼ $180,257
Total Liabilities and Net Assets / Fund Balance$114,513,623$111,795,876▼ $2,717,747

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$19,118,537$8,895,033$28,013,570
Equipment$751,802$5,920,763$6,672,565
Other Assets Org$15,315--
Compensation and Service Providers
Top Officer Pay5th percentile

Employees

NameTitleBaseTotal
Charles B BallardPresident$450$450
Ernest CarrawayVice Preside$450$450
Judy HillSecretary$450$450
Mary Ann FreemanDirector$450$450
Nina ColeDirector$450$450
William BaxleyDirector$450$450

Board Members and Trustees

NameTitle
Susan WaltonDirector

Highest Paid Contractors

ContractorServicesLocationCompensation
Ammons Springmoor Associates INCManagement2304 WESVILL COURT SUITE 100, Raleigh, NC 27607$750,000
Revenue and Support

Revenue Composition

Contributions and Grants
$58,070
Program Service Revenue
$38,874,448
Investment Income
$3,606,735
Other Revenue
$0
All Other Contributions
$58,070
Change in Net Assets
$-2,180,668

Audited Revenue Reconciliation

Revenue per Audited Statements
$42,539,253
Total Revenue per Audited Statements
$42,539,253
Total Revenue per Form 990
$42,539,253
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$44,310,578
Grants and Similar Amounts Paid$406,643
Salaries, Compensation, and Employee Benefits$2,700
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
All Other Expenses$3,997,072$271,384-$4,268,456
Other Expenses$1,677,723$13,126-$1,690,849
Occupancy$1,424,243--$1,424,243
Depreciation Depletion$856,407--$856,407
Fees for Services Management-$750,000-$750,000
Grants to Domestic Individuals$406,643--$406,643
Insurance$377,264--$377,264
Office Expenses$39,025$275,815-$314,840
Advertising-$272,592-$272,592
Fees for Services Accounting-$149,223-$149,223
Interest$107,334--$107,334
Fees for Services Other-$13,200-$13,200
Fees for Services Legal-$11,450-$11,450
Travel$6,828$3,160-$9,988
Current Officers, Directors, Trustees, and Key Employees-$2,700-$2,700
Total Functional Expenses$41,302,182$3,417,739$0$44,719,921

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$44,719,921
Total Expenses per Audited Statements$44,719,921
Total Expenses per Form 990$44,719,921
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
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
See Explanation Below--No-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Lease Liablility-right of Use Assets$54,041,845
Refundable Advance Fees$35,427,791
Deferred Lease Expense Payable$7,720,712
Notes Payable$4,550,560
Waiting List Deposits$4,132,482
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
Yes
Business relationship with family members
Yes
Business relationship with organization members
Yes
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Page 6, Part VI, Line 3

“The board of directors is fully responsible for all aspects of providing services and amenities contracted with the residents and they contract with a management company to provide the day to day services associated with staffing, licensing and overseeing operations while maintaining control per the management agreement.”

Form 990, Page 6, Part VI, Line 11B

“This form 990 is reviewed by the organization's accounting staff and executive director prior to filing and is provided to the board prior to filing.”

Form 990, Page 6, Part VI, Line 12C

“Each member of the board signs a conflict of interest statement annually and it is kept on file. Management relies on the board to remedy any conflict of interest.”

Form 990, Page 6, Part VI, Line 15A

“The board negotiates the contract with the management company.”

Form 990, Page 6, Part VI, Line 15B

“The compensation of other key employees is determined by independent parties using comparable data.”

Form 990, Page 6, Part VI, Line 19

“Governing documents are made available to public upon request.”

Filing and Contact Details

Filer

Filer Name
Springmoor Inc
EIN
56-1368256
Phone
9198487000
Address
1500 SAWMILL ROAD, RALEIGH, NC 27615

Signing Officer

Name
Charles B Ballard
Title
President
Phone
9198487000
Signed
2024-11-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Charles B Ballard
Formed
1983
Legal Domicile
Nc
Voting Board Members
7
Independent Board Members
7
Employees
0

Preparer

Firm
James a Lucas and Company Llp
Address
4909 WESTERN BLVD STE 200, RALEIGH, NC 27606
Preparer
Joellen H Wilkes
Phone
9198514696
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“Springmoor is a nationally accredited full service life care retirement community designed to emphasize independent living, dignity, security, and peace of mind. It offers a wide range of residences, services, amenities and comprehensive health care. Springmoor is designed to provide active, independent retirement living while providing for existing and future health and personal care needs. Springmoor's health care program gives each resident a strong sense of security, life with dignity, lifetime care, personal safety and financial security, as well as interaction and companionship with many fine neighbors who have common interests.”

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IRS990/MissionDesc0SPRINGMOOR IS A NATIONALLY ACCREDITED FULL SERVICE LIFE CARE RETIREMENT COMMUNITY DESIGNED TO EMPHASIZE INDEPENDENT LIVING, DIGNITY, SECURITY, AND PEACE OF MIND. IT OFFERS A WIDE RANGE OF RESIDENCES, SERVICES, AMENITIES AND COMPREHENSIVE HEALTH CARE. SPRINGMOOR IS DESIGNED TO PROVIDE ACTIVE, INDEPENDENT RETIREMENT LIVING WHILE PROVIDING FOR EXISTING AND FUTURE HEALTH AND PERSONAL CARE NEEDS. SPRINGMOOR'S HEALTH CARE PROGRAM GIVES EACH RESIDENT A STRONG SENSE OF SECURITY, LIFE WITH DIGNITY, LIFETIME CARE, PERSONAL SAFETY AND FINANCIAL SECURITY, AS WELL AS INTERACTION AND COMPANIONSHIP WITH MANY FINE NEIGHBORS WHO HAVE COMMON INTERESTS.
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IRS990/PrincipalOfficerNm0CHARLES B BALLARD
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IRS990/ProgramServiceRevenueGrp/Desc2REIMBURSEMENTS
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IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus4YearsAmt060535
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IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt01100
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt0124031
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt03606735
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IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt03501948
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt017616905
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt038874448
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt037200138
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt034289277
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt034552275
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt032705900
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt0177622038
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt03606735
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt03538508
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IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt03492412
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt03501948
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt017616905
IRS990ScheduleA/InvestmentIncomeCYPct00.09000
IRS990ScheduleA/InvestmentIncomePYPct00.09000
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.90830
IRS990ScheduleA/PublicSupportPY509Pct00.90590
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IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus2YearsAmt065043
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus3YearsAmt062135
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus4YearsAmt060535
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt0291727
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IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt038932518
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt037262324
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt034290902
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt034553325
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt032707000
IRS990ScheduleA/Total509Grp/TotalAmt0177746069
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt042539253
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt040800832
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt037768204
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt038045737
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt036208948
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt0195362974
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt019118537
IRS990ScheduleD/BuildingsGrp/DepreciationAmt08895033
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt028013570
IRS990ScheduleD/EquipmentGrp/BookValueAmt0751802
IRS990ScheduleD/EquipmentGrp/DepreciationAmt05920763
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt06672565
IRS990ScheduleD/ExpensesSubtotalAmt044719921
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt048335370
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt1110512
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt215315
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0RIGHT OF USE ASSETS NET OF AMORT
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1UMIC SUBSCRIBERS SAVINGS ACCT
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2INVESTMENT-UNITY SENIOR CARE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt054041845
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt135427791
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt27720712
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt34550560
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt44132482
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0LEASE LIABLILITY-RIGHT OF USE ASSETS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1REFUNDABLE ADVANCE FEES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2DEFERRED LEASE EXPENSE PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3NOTES PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc4WAITING LIST DEPOSITS
IRS990ScheduleD/RevenueSubtotalAmt042539253
IRS990ScheduleD/TotalBookValueLandBuildingsAmt019870339
IRS990ScheduleD/TotalBookValueOtherAssetsAmt048461197
IRS990ScheduleD/TotalExpensesPerForm990Amt044719921
IRS990ScheduleD/TotalLiabilityAmt0105873390
IRS990ScheduleD/TotalRevenuePerForm990Amt042539253
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt042539253
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt044719921
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IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt0406643
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0SUBSIDIES
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt011
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0RESIDENTS REQUESTING ASSISTANCE APPLY AND A COMMITTEE ANALYZES THEIR REQUEST ALONG WITH THEIR FINANCIAL INFORMATION AND DETERMINES ELIGIBILITY. THE COMMITTEE BRINGS THE ELIGIBLE REQUESTS TO THE BOARD FOR APPROVAL.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE I, PAGE 1, PART I, LINE 2
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm0SEE EXPLANATION BELOW
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd0false
IRS990ScheduleL/SupplementalInformationDetail/ExplanationTxt0SPRINGMOOR, INC. LEASES IT'S FACILITIES FROM AMMONS-SPRINGMOOR ASSOC, LLC (ASA) AND AMMONS, INC. IN 2023 SPRINGMOOR, INC. PAID ASA RENT OF 10,260,834 AND AMMONS, INC RENT OF 2,035,519. AMMONS SPRINGMOOR ASSOCIATES, INC (ASAI)IS A CLOSELY HELD CORPORATION WHOSE MAJORITY SHAREHOLDER IS DAVID AMMONS. ASAI PROVIDES MANAGEMENT SERVICES FOR SPRINGMOOR, INC. IN 2023, SPRINGMOOR, INC. PAID ASAI 750,000 IN MANAGEMENT FEES. SPRINGMOOR, INC. HAS LOANED MONEY TO ASA AND AMMONS INC. AS OF DECEMBER 31, 2023, ASA OWED SPRINGMOOR, INC. 27,243,119 AND AMMONS INC. OWED SPRINGMOOR, INC. 8,077,177. THE LEASING AND BORROWING TRANSACTIONS BETWEEN AMMONS, INC. AND AMMONS- SPRINGMOOR ASSOC, LLC WERE REVIEWED BY THE INTERNAL REVENUE SERVICE NATIONAL OFFICE IN 1991 AND THE NATIONAL OFFICE RULED THESE TRANSACTIONS DID NOT THREATEN SPRINGMOOR, INC.'S TAX EXEMPT STATUS IN ANY WAY. SUBSEQUENTLY, THE TRANSACTIONS WERE REVIEWED IN THE AUDIT OF THE 2012 FORM 990 AND THE AUDITOR AGREED WITH THE PREVIOUS FINDINGS FROM 1991.
IRS990ScheduleL/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE L, PART V
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0SPRINGMOOR IS A NATIONALLY ACCREDITED FULL SERVICE LIFE CARE RETIREMENT COMMUNITY DESIGNED TO EMPHASIZE INDEPENDENT LIVING, DIGNITY, SECURITY, AND PEACE OF MIND. IT OFFERS A WIDE RANGE OF RESIDENCES, SERVICES, AMENITIES AND COMPREHENSIVE HEALTH CARE. SPRINGMOOR IS DESIGNED TO PROVIDE ACTIVE, INDEPENDENT RETIREMENT LIVING WHILE PROVIDING FOR EXISTING AND FUTURE HEALTH AND PERSONAL CARE NEEDS. SPRINGMOOR'S HEALTH CARE PROGRAM GIVES EACH RESIDENT A STRONG SENSE OF SECURITY, LIFE WITH DIGNITY, LIFETIME CARE, PERSONAL SAFETY AND FINANCIAL SECURITY, AS WELL AS INTERACTION AND COMPANIONSHIP WITH MANY FINE NEIGHBORS WHO HAVE COMMON INTERESTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD OF DIRECTORS IS FULLY RESPONSIBLE FOR ALL ASPECTS OF PROVIDING SERVICES AND AMENITIES CONTRACTED WITH THE RESIDENTS AND THEY CONTRACT WITH A MANAGEMENT COMPANY TO PROVIDE THE DAY TO DAY SERVICES ASSOCIATED WITH STAFFING, LICENSING AND OVERSEEING OPERATIONS WHILE MAINTAINING CONTROL PER THE MANAGEMENT AGREEMENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THIS FORM 990 IS REVIEWED BY THE ORGANIZATION'S ACCOUNTING STAFF AND EXECUTIVE DIRECTOR PRIOR TO FILING AND IS PROVIDED TO THE BOARD PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3EACH MEMBER OF THE BOARD SIGNS A CONFLICT OF INTEREST STATEMENT ANNUALLY AND IT IS KEPT ON FILE. MANAGEMENT RELIES ON THE BOARD TO REMEDY ANY CONFLICT OF INTEREST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE BOARD NEGOTIATES THE CONTRACT WITH THE MANAGEMENT COMPANY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE COMPENSATION OF OTHER KEY EMPLOYEES IS DETERMINED BY INDEPENDENT PARTIES USING COMPARABLE DATA.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6GOVERNING DOCUMENTS ARE MADE AVAILABLE TO PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0false
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IRS990/StatesWhereCopyOfReturnIsFldCd0NC
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IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0114513623
IRS990/TotalAssetsEOYAmt0111795876
IRS990/TotalAssetsGrp/BOYAmt0114513623
IRS990/TotalAssetsGrp/EOYAmt0111795876

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$111,795,876
Liabilities
$136,811,400
Net assets
-$25,015,524
Revenue
$42,539,253
Expenses
$44,719,921
Net income
-$2,180,668
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$112$137$25.3$44.9$45.2$0.23
2023Detailed filing. Detailed filing data is available for this year.$112$137$25.0$42.5$44.7$2.18
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$115$139$24.8$40.8$40.7$0.10
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$57.7$77.0$19.2$37.8$39.8$2.07
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$58.5$75.7$17.1$38.0$36.6$1.44
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$58.5$77.1$18.6$38.5$38.7$0.13
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$58.0$76.5$18.5$38.5$37.4$1.10
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$58.7$75.3$16.6$36.1$36.9$0.85
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$57.7$73.5$15.8$33.6$37.9$4.23
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$59.2$70.7$11.5$36.0$37.1$1.14
2014Detailed filing. Detailed filing data is available for this year.$57.9$68.3$10.4$34.5$36.2$1.69
2013Summary only. Only limited summary data is available for this year.$57.7$38.8$18.9$34.6$34.3$0.30
2012Summary only. Only limited summary data is available for this year.$55.5$36.8$18.6$33.1$32.8$0.38
2011Summary only. Only limited summary data is available for this year.$55.0$36.7$18.3$35.1$31.7$3.36