Civic Intelligence

Life Care Ponte Vedra Inc

EIN 59-2555812 • 501(c)3 • Ponte Vedra Beach, FL

Profile

To provide for the housing, physical, emotional, recreational, social, religious, health care and financial security needs of the residents of vicar's landing.

1000 Vicars Landing WayPonte Vedra Beach, FL 32082

www.vicarslanding.com

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

95th percentile

1.12x

Higher debt load relative to assets than 95% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Source year 2024

Liabilities / Revenue

93rd percentile

5.39x

Higher debt load relative to revenue than 93% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Source year 2024

Net Margin

42nd percentile

1.9%

Higher net margin than 42% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Source year 2024

Top Officer Pay

23rd percentile

$454,933

Higher top officer pay than 23% of similar nonprofits.

Top officer pay equals 0.9% of source-year revenue.

501(c)3 • $250M-$1B nonprofits • Source year 2024

Asset Growth

20th percentile

-0.9%

Faster asset growth than 20% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Annualized from 2023 to 2024

Revenue Growth

61st percentile

12%

Faster revenue growth than 61% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Annualized from 2023 to 2024

Assets

Down

$254,213,464

Down $2,280,104 (-0.9%) from 2023

Liabilities

Down

$284,988,046

Down $3,134,738 (-1.1%) from 2023

Net Assets

Up

-$30,774,582

Up $854,634 (+2.7%) from 2023

Revenue

Up

$52,910,509

Up $5,755,581 (+12%) from 2023

Expenses

Up

$51,902,286

Up $9,065,654 (+21%) from 2023

Net Income

Down

$1,008,223

Down $3,310,073 (-77%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$300M$200M$100M$0-$100MAssets 2010: $63,194,003Liabilities 2010: $73,393,770Net Assets 2010: -$10,199,7672010Assets 2011: $61,274,741Liabilities 2011: $74,008,290Net Assets 2011: -$12,733,5492011Assets 2012: $59,322,419Liabilities 2012: $72,057,485Net Assets 2012: -$12,735,0662012Assets 2013: $59,188,098Liabilities 2013: $93,220,957Net Assets 2013: -$34,032,8592013Assets 2014: $74,863,872Liabilities 2014: $110,754,170Net Assets 2014: -$35,890,2982014Assets 2015: $71,324,119Liabilities 2015: $107,595,519Net Assets 2015: -$36,271,4002015Assets 2016: $68,848,657Liabilities 2016: $105,861,651Net Assets 2016: -$37,012,9942016Assets 2017: $73,959,897Liabilities 2017: $108,331,870Net Assets 2017: -$34,371,9732017Assets 2018: $70,568,009Liabilities 2018: $107,508,271Net Assets 2018: -$36,940,2622018Assets 2019: $71,347,884Liabilities 2019: $105,654,944Net Assets 2019: -$34,307,0602019Assets 2020: $123,942,658Liabilities 2020: $155,907,542Net Assets 2020: -$31,964,8842020Assets 2021: $208,113,765Liabilities 2021: $239,827,662Net Assets 2021: -$31,713,8972021Assets 2022: $243,553,471Liabilities 2022: $281,806,761Net Assets 2022: -$38,253,2902022Assets 2023: $256,493,568Liabilities 2023: $288,122,784Net Assets 2023: -$31,629,2162023Assets 2024: $254,213,464Liabilities 2024: $284,988,046Net Assets 2024: -$30,774,5822024

Highlighted filing

2024

Assets$254,213,464
Liabilities$284,988,046
Net Assets-$30,774,582

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$60M$40M$20M$0-$20MExpenses 2010: $17,681,3412010Expenses 2011: $23,185,4942011Revenue 2012: $21,972,274Expenses 2012: $23,242,415Net Income 2012: -$1,270,1412012Revenue 2013: $20,282,292Expenses 2013: $20,700,638Net Income 2013: -$418,3462013Revenue 2014: $17,576,860Expenses 2014: $18,855,964Net Income 2014: -$1,279,1042014Revenue 2015: $20,891,925Expenses 2015: $20,339,736Net Income 2015: $552,1892015Revenue 2016: $20,708,660Expenses 2016: $22,336,117Net Income 2016: -$1,627,4572016Revenue 2017: $24,629,377Expenses 2017: $23,206,009Net Income 2017: $1,423,3682017Revenue 2018: $22,540,957Expenses 2018: $23,166,689Net Income 2018: -$625,7322018Revenue 2019: $23,888,073Expenses 2019: $23,382,943Net Income 2019: $505,1302019Revenue 2020: $26,399,318Expenses 2020: $25,408,887Net Income 2020: $990,4312020Revenue 2021: $26,996,268Expenses 2021: $26,145,594Net Income 2021: $850,6742021Revenue 2022: $27,165,811Expenses 2022: $29,343,102Net Income 2022: -$2,177,2912022Revenue 2023: $47,154,928Expenses 2023: $42,836,632Net Income 2023: $4,318,2962023Revenue 2024: $52,910,509Expenses 2024: $51,902,286Net Income 2024: $1,008,2232024

Highlighted filing

2024

Revenue$52,910,509
Expenses$51,902,286
Net Income$1,008,223

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$254$285$30.8$52.9$51.9$1.01
2023Summary only. Only limited summary data is available for this year.$256$288$31.6$47.2$42.8$4.32
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$244$282$38.3$27.2$29.3$2.18
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$208$240$31.7$27.0$26.1$0.85
2020Summary only. Only limited summary data is available for this year.$124$156$32.0$26.4$25.4$0.99
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$71.3$106$34.3$23.9$23.4$0.51
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$70.6$108$36.9$22.5$23.2$0.63
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$74.0$108$34.4$24.6$23.2$1.42
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$68.8$106$37.0$20.7$22.3$1.63
2015Summary only. Only limited summary data is available for this year.$71.3$108$36.3$20.9$20.3$0.55
2014Detailed filing. Detailed filing data is available for this year.$74.9$111$35.9$17.6$18.9$1.28
2013Detailed filing. Detailed filing data is available for this year.$59.2$93.2$34.0$20.3$20.7$0.42
2012Summary only. Only limited summary data is available for this year.$59.3$72.1$12.7$22.0$23.2$1.27
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$61.3$74.0$12.7$23.2
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$63.2$73.4$10.2$17.7
Latest Detailed Filing

The latest 2024 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2022 below.

Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Sep 11, 2023
Return Version
2022v5.0
Gross Receipts
$27,261,886
Mission and Program Overview

Mission

The mission of life care ponte vedra, inc. Is to provide for the housing, physical, emotional, recreational, social, religious, health care and financial security needs of the elderly through the operation of a continuing care retirement community known as vicar's landing.

Operation of a continuing care retirement community to provide housing and services to residents.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$79,128,340$143,293,860▲ $64,165,520
Investments Other Securities$84,214,781$56,343,856▼ $27,870,925
Cash and Non-Interest-Bearing Accounts$3,268,859$3,911,658▲ $642,799
Accounts Receivable$361,352$754,316▲ $392,964
Prepaid Expenses and Deferred Charges$610,081$616,515▲ $6,434
Savings and Temporary Cash Investments$755,882$424,967▼ $330,915
Inventories for Sale or Use$113,249$112,907▼ $342
Intangible Assets$111,864$55,987▼ $55,877
Total Assets$208,113,765$243,553,471▲ $35,439,706
Other Assets Total$39,549,357$38,039,405▼ $1,509,952
Liabilities
Tax Exempt Bond Liabilities$96,324,823$119,027,574▲ $22,702,751
Deferred Revenue$67,528,945$86,345,589▲ $18,816,644
Other Liabilities$51,676,039$56,044,581▲ $4,368,542
Unsecured Notes Loans Payable$18,834,989$14,412,771▼ $4,422,218
Accounts Payable and Accrued Expenses$5,462,866$5,976,246▲ $513,380
Total Liabilities$239,827,662$281,806,761▲ $41,979,099
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-31,713,897$-38,253,290▼ $6,539,393
Total Net Assets Fund Balance$-31,713,897$-38,253,290▼ $6,539,393
Total Liabilities and Net Assets / Fund Balance$208,113,765$243,553,471▲ $35,439,706

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$99,225,505$934,342$100,159,847
Buildings$28,300,282$47,617,839$75,918,121
Equipment$8,691,835$11,376,584$20,068,419
Land$7,076,238-$7,076,238
Other Assets Org$38,038,782--
Other Securities$450--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Theresa M CrosbyDirector of Sales and MarketingFT$157,448$10,621$168,069
Kimberly BrownPrograms ManagerFT-$138,227$138,227
Abby BacolorDirector of Dining ServicesFT$120,415$10,621$131,036
Debra NeitzelDirector of Human ResourcesFT-$121,061$121,061

Board Members and Trustees

NameTitle
Mark BonnerChair
Steve CrosbyFinance Chair
Christine NgVice Chair
Kent NewBoard Member
Missy DekayBoard Member
Rob StursbergBoard Member
Tom ReederBoard Member
Kendall BryanDirector of Health Service
D Bruce JonesChief Executive Officer
Darren RoyChief Financial Officer
Dale PirkleChief Operating Officer

Highest Paid Contractors

ContractorServicesLocationCompensation
Obdp LLCProperty Lease Services830-13 A1A HWY, Ponte Vedra Beach, FL 32082$1,907,327
Marvin Mckenzie RossConstruction Services2505 SAINT LEGER DRIVE, Jacksonville, FL 32208$1,324,610
Smart Solutions Construction GroupConstruction Services3038 PESCARA DRIVE, Jacksonville, FL 32246$1,034,010
Umbrella It Solutions LLCIt Support Services880 SAILFISH DRIVE EAST, Atlantic Beach, FL 32233$678,999
Rlps LLCArchitectural Services250 VALLEYBROOK DRIVE, Lancaster, PA 17601$563,441
Revenue and Support

Revenue Composition

Contributions and Grants
$18,146
Program Service Revenue
$26,148,472
Investment Income
$878,981
Other Revenue
$120,212
All Other Contributions
$18,146
Change in Net Assets
$-2,177,291

Audited Revenue Reconciliation

Revenue per Audited Statements
$27,026,381
Revenue Not Reported on Financial Statements
$139,430
Revenue Not Reported on Form 990
$-4,456,041
Total Revenue per Audited Statements
$22,570,340
Total Revenue per Form 990
$27,165,811
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$18,347,537
Salaries, Compensation, and Employee Benefits$10,870,185
Grants and Similar Amounts Paid$125,380
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$8,101,916$468,008-$8,569,924
Depreciation Depletion$5,703,898$94,528-$5,798,426
Interest$3,337,515$22,616-$3,360,131
Occupancy$2,814,259$341,779-$3,156,038
Other Employee Benefits$1,204,378$85,001-$1,289,379
Fees for Services Management$372,817$712,611-$1,085,428
Fees for Services Other$723,792$41,652-$765,444
Payroll Taxes$613,859$62,037-$675,896
Information Technology-$599,403-$599,403
Insurance$128,570$317,730-$446,300
Current Officers, Directors, Trustees, and Key Employees$162,817$5,252-$168,069
Pension Plan Contributions$155,847$11,070-$166,917
Advertising$16,459$113,956-$130,415
Fees for Service Investment Mgmnt Fees-$112,490-$112,490
Grants to Domestic Individuals$93,939--$93,939
Fees for Services Legal-$83,955-$83,955
Fees for Services Accounting-$64,392-$64,392
Other Expenses$12,391$41,910-$54,301
Office Expenses$1,863$46,617-$48,480
Travel$3,252$30,736-$33,988
Grants to Domestic Orgs$31,441--$31,441
All Other Expenses-$27,095-$27,095
Conferences and Meetings$23,627--$23,627
Total Functional Expenses$25,862,585$3,480,517$0$29,343,102

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$29,343,102
Expenses per Audited Statements$29,203,672
Total Expenses per Audited Statements$29,109,733
Expenses Not Reported on Financial Statements$139,430
Expenses Not Reported on Form 990$-93,939
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
VICAR'S LANDING FOUNDATION INCPonte Vedra, FL501(c)(3)General Support$31,441
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Captial Lease Liability$42,381,768
Entrance Fee and Wait List Deposits$7,314,707
Current Portion of Retainage Payable$4,770,537
Entrance Fee Refund Payable$1,435,312
Construction Retainage Payable$142,257

Bond Issues

BondIssuerIssuedIssue PricePurpose
ASt Johns County Industrial Development Authority Series 2021a2021-07-01$84,430,000See supplemental information
BSt Johns County Industrial Development Authority Series 2021b2021-07-01$31,200,000See supplemental information
CSt Johns County Industrial Development Authority Series 2022a2022-09-01$29,750,000See supplemental information
DSt Johns County Industrial Development Authority Series 2022b2022-09-01$250,000See supplemental information

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$84,430,000-$2,020,000$3,944,563
B$31,200,000---
C$29,750,000---
D$250,000---

Bond Financing Compliance

No rebate due
Yes
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

The sole member of the corporation is life care pastoral services, inc.

Form 990, Part VI, Section A, Line 7A

The corporation's sole member, life care pastoral services, inc., has the power to elect all board members.

Form 990, Part VI, Section A, Line 7B

The approval of the sole member, life care pastoral services, inc., shall be required for a number of actions by the board, as written within the organization's bylaws.

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

Copy of form 990 is provided to the governing body for review before it is filed.

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

There is a yearly review at the board level where each board member signs a conflict of interest policy and declares any conflict. Additionally, there is a conflict of interest policy in the employee handbook, and it is reviewed with the department heads annually.

Form 990, Part VI, Section B, Line 15

The officers of life care ponte vedra, inc. Are compensated by lcps management, inc., a related 501(c)(3) organization. The compensation committee of the lcps management, inc. Board of directors reviews accomplishments against objectives and determines the compensation of the top management official and other officers of the filing organization.

Form 990, Part VI, Section C, Line 19

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

Filing and Contact Details

Filer

Filer Name
Life Care Ponte Vedra Inc
EIN
59-2555812
Phone
9042731701
Address
1000 VICARS LANDING WAY, PONTE VEDRA BEACH, FL 32082
Doing Business As
VICAR'S LANDING

Signing Officer

Name
D Bruce Jones
Title
CEO
Phone
9042731701
Signed
2023-09-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
D Bruce Jones
Formed
1983
Legal Domicile
Fl
Voting Board Members
7
Independent Board Members
7
Employees
449
Volunteers
21

Preparer

Firm
Msl Pa
Address
255 S ORANGE AVENUE SUITE 600, ORLANDO, FL 32801
Preparer
Harry E Harp CPA
Phone
4077405400
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Net asset transfer 6,464.

Form 990, Part XII, Line 2C

Oversight of audit: the audit committee of the board of directors has responsibility for oversight of the audit and selection of an independent accountant. The process has not changed from the prior year.

Financial Statement Notes

PART X, LINE 2:

Lcpv and the foundation have been recognized by the internal revenue service as tax-exempt organizations under section 501(c)(3) of the internal revenue code. Vlob was a disregarded entity for federal income tax purposes. Accordingly, income earned in furtherance of the organization's tax-exempt purpose is exempt from federal and state income taxes, and, therefore, these consolidated financial statements include no provision or liability for income taxes.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Contribution expense -93,939. Transfer of net assets 6,464.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Contribution expense -93,939.

Raw XML AppendixShowing 400 of 966 raw XML fields

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

Path#Value
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IRS990/ActivitiesConductedPrtshpInd00
IRS990/ActivityOrMissionDesc0OPERATION OF A CONTINUING CARE RETIREMENT COMMUNITY TO PROVIDE HOUSING AND SERVICES TO RESIDENTS.
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IRS990/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt3UMBRELLA IT SOLUTIONS LLC
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IRS990/ContractorCompensationGrp/ServicesDesc2CONSTRUCTION SERVICES
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IRS990/Desc0LIFE CARE PONTE VEDRA, INC. ("LCPV") IS A NOT-FOR-PROFIT CORPORATION, WHICH PROVIDES HOUSING, HEALTHCARE, AND OTHER RELATED SERVICES TO SENIOR ADULTS THROUGH THE OPERATION OF TWO RETIREMENT COMMUNITIES KNOWN AS VICAR'S LANDING LOCATED PONTE VEDRA BEACH, FLORIDA. THE VICAR'S LANDING AT SAWGRASS RETIREMENT COMMUNITY ("SAWGRASS") OPENED IN 1987 AND CONSISTS OF 227 INDEPENDENT RESIDENTIAL UNITS, 38 ASSISTED LIVING UNITS, AND A 60-BED SKILLED NURSING CENTER. SEE ADDITIONAL INFORMATION ON SCHEDULE O.THE VICAR'S LANDING AT OAK BRIDGE RETIREMENT COMMUNITY ("OAK BRIDGE") OPENED IN AUGUST 2022 AND WHEN PHASE I OF THE EXPANSION IS COMPLETED WILL INCLUDE 109 INDEPENDENT LIVING UNITS. PHASE II OF THE OAK BRIDGE CAMPUS HAS STARTED AND INCLUDES AN ADDITIONAL 33 INDEPENDENT UNITS ANTICIPATED TO BE COMPLETED IN THE SPRING OF 2024, AND REMAINING PHASES WILL INCLUDE INDEPENDENT LIVING UNITS AND ASSISTED LIVING/MEMORY CARE UNITS AND RELATED COMMON AREAS ON AN APPROXIMATELY 42-ACRE PARCEL OF LAND LOCATED LESS THAN ONE MILE FROM THE SAWGRASS CAMPUS.THE SOLE CORPORATE MEMBER OF LCPV IS LIFE CARE PASTORAL SERVICES, INC. (LCPS). LCPS IS ALSO THE SOLE CORPORATE MEMBER OF LCPS MANAGEMENT, INC. LCPS MANAGEMENT PROVIDES MANAGEMENT, OPERATIONAL, AND ADMINISTRATIVE SERVICES FOR THE ORGANIZATION AND OTHER LCPS ENTITIES.
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IRS990/MissionDesc0THE MISSION OF LIFE CARE PONTE VEDRA, INC. IS TO PROVIDE FOR THE HOUSING, PHYSICAL, EMOTIONAL, RECREATIONAL, SOCIAL, RELIGIOUS, HEALTH CARE AND FINANCIAL SECURITY NEEDS OF THE ELDERLY THROUGH THE OPERATION OF A CONTINUING CARE RETIREMENT COMMUNITY KNOWN AS VICAR'S LANDING.
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