Civic Intelligence

Laurel Crest Retirement Community

990 • Fiscal year 2018 • EIN 82-2636406

Jan 01, 2018 to Dec 31, 2018 • Filed on Nov 14, 2019

Organization ProfileN/A
2817 Ashland RoadColumbia, SC 29210-5009

(803) 772-5885

Siviq Scores

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

Liabilities / Assets

88th percentile

0.87x

Higher debt load relative to assets than 88% of similar nonprofits.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2018

Liabilities / Revenue

88th percentile

2.47x

Higher debt load relative to revenue than 88% of similar nonprofits.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2018

Net Margin

87th percentile

38%

Higher net margin than 87% of similar nonprofits.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2018

Top Officer Pay

66th percentile

$320,454

Higher top officer pay than 66% of similar nonprofits.

Top officer pay equals 2.8% of source-year revenue.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2018

Asset Growth

96th percentile

71%

Faster asset growth than 96% of similar nonprofits.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2017 to 2018

Revenue Growth

Score unavailable

No value available

A valid growth rate could not be computed from the available filing history.

Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets88th percentile

Assets

Up

$32,362,163

Up $13,450,126 (+71%) from 2017

Net Assets

Up

$4,305,343

Up $4,311,691 (+67922%) from 2017

Liabilities

Up

$28,056,820

Up $9,138,435 (+48%) from 2017

Revenue And Expenses
Liabilities / Revenue88th percentileNet Margin87th percentile

Revenue

Up

$11,357,269

Up $11,357,269 from 2017

Expenses

Up

$7,045,578

Up $7,039,230 (+110889%) from 2017

Net Income

Up

$4,311,691

Up $4,318,039 (+68022%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth96th percentile

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

$40M$30M$20M$10M$0-$10MAssets 2017: $18,912,037Liabilities 2017: $18,918,385Net Assets 2017: -$6,3482017Assets 2018: $32,362,163Liabilities 2018: $28,056,820Net Assets 2018: $4,305,3432018Assets 2019: $32,141,501Liabilities 2019: $28,131,746Net Assets 2019: $4,009,7552019Assets 2020: $30,032,378Liabilities 2020: $26,293,796Net Assets 2020: $3,738,5822020Assets 2021: $30,245,637Liabilities 2021: $26,960,858Net Assets 2021: $3,284,7792021Assets 2022: $0Liabilities 2022: $0Net Assets 2022: $02022

Highlighted filing

2018

Assets$32,362,163
Liabilities$28,056,820
Net Assets$4,305,343
Open 2018 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$15M$10M$5.0M$0-$5.0MRevenue 2017: $0Expenses 2017: $6,348Net Income 2017: -$6,3482017Revenue 2018: $11,357,269Expenses 2018: $7,045,578Net Income 2018: $4,311,6912018Revenue 2019: $6,955,288Expenses 2019: $7,250,876Net Income 2019: -$295,5882019Revenue 2020: $7,310,400Expenses 2020: $7,581,573Net Income 2020: -$271,1732020Revenue 2021: $7,008,293Expenses 2021: $7,462,096Net Income 2021: -$453,8032021Revenue 2022: $7,351,578Expenses 2022: $7,950,263Net Income 2022: -$598,6852022

Highlighted filing

2018

Revenue$11,357,269
Expenses$7,045,578
Net Income$4,311,691
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Nov 14, 2019
Return Version
2018v3.1
Gross Receipts
$11,357,269
Mission and Program Overview

Mission

Laurel crest retirement community is a not-for-profit life plan community that offers a variety of lifestyle choices to meet the diverse and changing needs of today's seniors. 2017 was the year of formation of the organization; operations will commence in 2018.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$0$24,609,623▲ $24,609,623
Cash and Non-Interest-Bearing Accounts$0$2,280,474▲ $2,280,474
Accounts Receivable$0$129,074▲ $129,074
Prepaid Expenses and Deferred Charges$664$0▼ $664
Total Assets$18,912,037$32,362,163▲ $13,450,126
Other Assets Total$18,911,373$5,342,992▼ $13,568,381
Liabilities
Mortgage Notes Payable Secured by Investment Property$12,390,000$12,270,000▼ $120,000
Tax Exempt Bond Liabilities$6,118,060$7,450,732▲ $1,332,672
Deferred Revenue$0$5,907,758▲ $5,907,758
Accounts Payable and Accrued Expenses$410,325$1,262,101▲ $851,776
Other Liabilities$0$1,166,229▲ $1,166,229
Total Liabilities$18,918,385$28,056,820▲ $9,138,435
Net Assets / Fund Balance
Unrestricted Net Assets$-6,348$4,305,343▲ $4,311,691
Total Net Assets Fund Balance$-6,348$4,305,343▲ $4,311,691
Total Liabilities and Net Assets / Fund Balance$18,912,037$32,362,163▲ $13,450,126

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$23,709,860$799,532$24,509,392
Leasehold Improvements$827,482$27,904$855,386
Other Land Buildings$72,281$2,437$74,718
Other Assets Org$2,074,914--
Compensation and Service Providers
Top Officer Pay66th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
James F DeelExecutive DirectorFT$138,825$7,611$146,436

Board Members and Trustees

NameTitle
Dr Stacey V BrennanBoard Chair
Rev Dr Eric SkidmoreBoard Chair
Katherine R LigonCEO/president
Mr Julian J NexsenBoard Vice Chair
Dr Richard MccainBoard Member
Mr Allen F MccutchenBoard Member
Mr Joel D LedbetterBoard Member
Mr Mark ClaryBoard Member
Mr Wally GravesBoard Member
Mr William F HalliganBoard Member
Mr William HancockBoard Member
Mrs Robin L GormanBoard Member
Rev Dr Gordon W G RaynalBoard Member
Rev Dr Mike SheltonBoard Member
Rev Dr R Dan HollowayBoard Member
Ashley C Taylor CPACFO/treasurer
Tony G FountainCOO

Highest Paid Contractors

ContractorServicesLocationCompensation
Mclaurin's Painting LLCPainting & Construction Contracting244 MERCHANTS DRIVE, Columbia, SC 29212$154,381
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$7,081,984
Investment Income
$4,264,817
Other Revenue
$10,468
Change in Net Assets
$4,311,691
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$4,246,455
Salaries, Compensation, and Employee Benefits$2,799,123
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,813,745$397,926-$2,211,671
Interest$1,036,420--$1,036,420
Fees for Services Other$947,868--$947,868
Depreciation Depletion$945,258--$945,258
Other Employee Benefits$334,332$47,485-$381,817
Occupancy$334,158--$334,158
Payroll Taxes$123,942$27,356-$151,298
Insurance$69,119--$69,119
Pension Plan Contributions-$54,337-$54,337
Other Expenses$40,637--$40,637
Total Functional Expenses$6,518,474$527,104$0$7,045,578
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
Refundable Resident Entrance Fees$721,788
Accrued Interest$298,851
Resident Deposits and Refunds$110,098
Asset Retirement Obligation$35,492

Bond Issues

BondIssuerIssuedIssue PricePurpose
ASouth Carolina Jobs-economic Development Authority2017-12-28$8,870,000Refund and capital project - series 2017a, b, and c

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$8,910,230$1,803,038-$157,516

Bond Financing Compliance

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

Governance Explanations

Form 990, Part VI, Section A, Line 6

“The organization's sole member is the presbyterian home of south carolina.”

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

“An election of all directors by the presbyterian home of south carolina shall be held at each annual meeting.”

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

“The full board reviews the form 990 with management prior to filing. A copy o f the return is provided to the entire board.”

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

“Written conflict of interest is placed on the agenda at each board meeting and trustees are required to declare conflict of any issue that arises. Should a conflict of interest exist, the board member is required to recuse him/herself from voting.”

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

“A conflict-free board relying on comparable salary information from similar organizations in the same geographic location votes on compensation adjustments for the ceo, cfo, and coo.”

Form 990, Part VI, Section C, Line 18

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

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 from the administrative office.”

Filing and Contact Details

Filer

Filer Name
Laurel Crest Retirement Community
EIN
82-2636406
Phone
8037725885
Address
2817 ASHLAND ROAD, COLUMBIA, SC 29210-5009

Signing Officer

Name
W Chad Melven
Title
CFO
Phone
8037725885
Signed
2019-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Katherine R Ligon
Formed
2017
Legal Domicile
Sc
Voting Board Members
14
Independent Board Members
14
Employees
137
Volunteers
20

Preparer

Firm
Dixon Hughes Goodman Llp
Address
500 RIDGEFIELD COURT, ASHEVILLE, NC 28806
Preparer
Amy Bibby
Phone
8282542254
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Dining services: program service expenses 503,228. Management and general expenses 0. Fundraising expenses 0. Total expenses 503,228. Building and maintenance services: program service expenses 280,567. Management and general expenses 0. Fundraising expenses 0. Total expenses 280,567. Contract therapy services: program service expenses 164,073. Management and general expenses 0. Fundraising expenses 0. Total expenses 164,073.”

FORM 990, PART XII, LINE 2C:

“The process has not changed from the prior year.”

Financial Statement Notes

PART X, LINE 2:

“Presbyterian communities of south carolina, pcsc foundation, laurel crest retirement community, and laurel crest foundation are tax-exempt under internal revenue code section 501(c)(3) and, accordingly, no provision for income tax is recorded in the accompanying consolidated financial statements. Presbyterian properties, llc's taxable income or loss is allocated to the members in accordance with the operating agreement and is reflected in their income taxes; accordingly, the accompanying consolidated financial statements do not reflect a provision or liability for federal and state income taxes. The organization has determined that it does not have any material unrecognized tax benefits or obligations as of december 31, 2018.”

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IRS990/Form990PartVIISectionAGrp/TitleTxt10BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt11BOARD VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt12BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt13BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt14CEO/PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt15CFO/TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt16COO
IRS990/Form990PartVIISectionAGrp/TitleTxt17EXECUTIVE DIRECTOR
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/FormationYr02017
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IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GainOrLossGrp/SecuritiesAmt04237220
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt014
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossAmountSalesAssetsGrp/SecuritiesAmt04237220
IRS990/GrossReceiptsAmt011357269
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd00
IRS990/IndependentVotingMemberCnt014
IRS990/IndivRcvdGreaterThan100KCnt01
IRS990/IndoorTanningServicesInd00
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IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InsuranceGrp/ProgramServicesAmt069119
IRS990/InsuranceGrp/TotalAmt069119
IRS990/InterestGrp/ProgramServicesAmt01036420
IRS990/InterestGrp/TotalAmt01036420
IRS990/InvestmentIncomeGrp/ExclusionAmt027597
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt027597
IRS990/InvestmentInJointVentureInd00
IRS990/InvestTaxExemptBondsInd00
IRS990/IRPDocumentCnt020
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IRS990/LandBldgEquipBasisNetGrp/BOYAmt00
IRS990/LandBldgEquipBasisNetGrp/EOYAmt024609623
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IRS990/LegalDomicileStateCd0SC
IRS990/LessCostOthBasisSalesExpnssGrp/SecuritiesAmt00
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd01
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0LAUREL CREST RETIREMENT COMMUNITY IS A NOT-FOR-PROFIT LIFE PLAN COMMUNITY THAT OFFERS A VARIETY OF LIFESTYLE CHOICES TO MEET THE DIVERSE AND CHANGING NEEDS OF TODAY'S SENIORS. 2017 WAS THE YEAR OF FORMATION OF THE ORGANIZATION; OPERATIONS WILL COMMENCE IN 2018.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt012390000
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt012270000
IRS990/NetAssetsOrFundBalancesBOYAmt0-6348
IRS990/NetAssetsOrFundBalancesEOYAmt04305343
IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt04237220
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt04237220
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ProgramServicesAmt0334158
IRS990/OccupancyGrp/TotalAmt0334158
IRS990/OfficerMailingAddressInd00
IRS990/OnBehalfOfIssuerInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt018911373
IRS990/OtherAssetsTotalGrp/EOYAmt05342992
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt047485
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0334332
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0381817
IRS990/OtherExpensesGrp/Desc0OTHER OPERATING EXPENSE
IRS990/OtherExpensesGrp/Desc1PROFESSIONAL FEES
IRS990/OtherExpensesGrp/Desc2MEDICAL SUPPLIES
IRS990/OtherExpensesGrp/ProgramServicesAmt0822824
IRS990/OtherExpensesGrp/ProgramServicesAmt150171
IRS990/OtherExpensesGrp/ProgramServicesAmt240637
IRS990/OtherExpensesGrp/TotalAmt0822824
IRS990/OtherExpensesGrp/TotalAmt150171
IRS990/OtherExpensesGrp/TotalAmt240637
IRS990/OtherLiabilitiesGrp/BOYAmt00
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IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/Desc0OTHER INCOME
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IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt010468
IRS990/OtherRevenueTotalAmt010468
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0397926
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt01813745
IRS990/OtherSalariesAndWagesGrp/TotalAmt02211671
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt027356
IRS990/PayrollTaxesGrp/ProgramServicesAmt0123942
IRS990/PayrollTaxesGrp/TotalAmt0151298
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt054337
IRS990/PensionPlanContributionsGrp/TotalAmt054337
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0664
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/PrincipalOfficerNm0KATHERINE R LIGON
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0623000
IRS990/ProgramServiceRevenueGrp/BusinessCd1623000
IRS990/ProgramServiceRevenueGrp/Desc0RSIDENT SERVICE REVENUE
IRS990/ProgramServiceRevenueGrp/Desc1AMORTIZATION OF FEES
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt11433632
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt00
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IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt0-6348
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt06348
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt00
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt04311691
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt07092452
IRS990ScheduleA/InvestmentIncomeCYPct00.00000
IRS990ScheduleA/PrivateFoundation509Ind0X
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.00000
IRS990ScheduleA/PublicSupportTotal509Amt00
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt00
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt023709860
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0799532
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt024509392
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0827482
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt027904
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0855386
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt01720219
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt1145172
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt218072
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt31384615
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt42074914
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0ASSETS LIMITED AS TO USE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1OTHER RECEIVABLES
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2SUPPLIES
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3INTANGIBLE ASSETS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc4DUE TO/FROM RELATED ORGANIZATION
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt072281
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt02437
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt074718
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0298851
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1110098
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt2721788
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt335492
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0ACCRUED INTEREST
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1RESIDENT DEPOSITS AND REFUNDS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2REFUNDABLE RESIDENT ENTRANCE FEES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3ASSET RETIREMENT OBLIGATION
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0PRESBYTERIAN COMMUNITIES OF SOUTH CAROLINA, PCSC FOUNDATION, LAUREL CREST RETIREMENT COMMUNITY, AND LAUREL CREST FOUNDATION ARE TAX-EXEMPT UNDER INTERNAL REVENUE CODE SECTION 501(C)(3) AND, ACCORDINGLY, NO PROVISION FOR INCOME TAX IS RECORDED IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS. PRESBYTERIAN PROPERTIES, LLC'S TAXABLE INCOME OR LOSS IS ALLOCATED TO THE MEMBERS IN ACCORDANCE WITH THE OPERATING AGREEMENT AND IS REFLECTED IN THEIR INCOME TAXES; ACCORDINGLY, THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS DO NOT REFLECT A PROVISION OR LIABILITY FOR FEDERAL AND STATE INCOME TAXES. THE ORGANIZATION HAS DETERMINED THAT IT DOES NOT HAVE ANY MATERIAL UNRECOGNIZED TAX BENEFITS OR OBLIGATIONS AS OF DECEMBER 31, 2018.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt024609623
IRS990ScheduleD/TotalBookValueOtherAssetsAmt05342992
IRS990ScheduleD/TotalLiabilityAmt01166229
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$32,362,163
Liabilities
$28,056,820
Net assets
$4,305,343
Revenue
$11,357,269
Expenses
$7,045,578
Net income
$4,311,691
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$7.35$7.95$0.60
2021Detailed filing. Detailed filing data is available for this year.$30.2$27.0$3.28$7.01$7.46$0.45
2020Detailed filing. Detailed filing data is available for this year.$30.0$26.3$3.74$7.31$7.58$0.27
2019Detailed filing. Detailed filing data is available for this year.$32.1$28.1$4.01$6.96$7.25$0.30
2018Detailed filing. Detailed filing data is available for this year.$32.4$28.1$4.31$11.4$7.05$4.31
2017Detailed filing. Detailed filing data is available for this year.$18.9$18.9$0.01$0.00$0.01$0.01