2024-08-23T08:25:38+00:00 2023-12-31 440160260 Forvis Mazars LLP 500 Ridgefield Court Asheville NC 28806 990 2023-01-01 510553716 Upstate Senior Living Inc UPST 8643713100 1500 Trailhead Court Greenville SC 29617 William D Falls CFO 8643713100 2024-08-23 true true Amy Bibby P00445891 8282542254 2024-08-23 2023 2024-08-08 14:25:15Z The Woodlands at Furman William D Falls 1500 Trailhead Court Greenville SC 29617 25351248 false X www.thewoodlandsatfurman.org X 2003 SC To be the retirement community of choice by nurturing a distinctive culture of enrichment. 9 9 376 75 0 0 0 228072 21082784 23419588 281775 1087826 527992 548774 21892551 25284260 0 0 0 0 6942292 9503103 0 0 0 17168185 16152408 24110477 25655511 -2217926 -371251 126972389 130609282 177583986 179307553 -50611597 -48698271 The mission of Upstate Senior Living, Inc. is to be the retirement community of choice by nurturing a distinctive culture of enrichment for its residents. false false 23981569 23968362 The woodlands at Furman has a unique affiliation with Furman University which helps residents stay healthy, connected, and involved. The organization does everything possible to make retirement one of the most rewarding and enriching parts of life by offering a lifestyle that encourages physical, mental, and social growth. The Woodlands has 174 independent living apartments ranging in size from 700 to 2,060 square feet. The woodlands' villas consist of 28 single family homes. for those who need increased care, the woodlands' skilled nursing unit has 30 beds. the community also has 48 assisted living units. 23981569 true true false false false false false false false true true false false true true true false false false false false false false false false false false false true true false false false false false false false false false false true false false false false false false false false true 79 0 true 376 true false false false false false false false false false false false false false false X 9 9 false false false false false false false true true false false true true true true true true true true false SC X William D Falls Chief Financial Officer 8643713100 1500 Trailhead Court Greenville SC 29617 Dr Bruce Brown Director 1.0 X X 0 0 0 Dr Landy McCarrell Secretary 1.0 X X 0 0 0 Mary Lou Merkt Chair 1.0 X X 0 0 0 Susan Bichel Treasurer 1.0 X X 0 0 0 Todd Malo Vice Chair 1.0 X X 0 0 0 David Johnson Director 1.0 X 0 0 0 Francie Heller Director 1.0 X 0 0 0 Kathleen McKinney Director 1.0 X 0 0 0 Walter Goldsmith Director 1.0 X 0 0 0 Bill Falls CFO 40.0 X 189901 0 27047 James (Rick) Brackett CEO 40.0 X 245435 0 38052 Donald Lilly Executive VP of Operations 40.0 X 209263 0 18243 Angela Hecker Director of Marketing 40.0 X 153329 0 24984 Becky Vuksta Sr. Director of Operations 40.0 X 128897 0 18150 Kathy Young Controller 40.0 X 106346 0 16721 1033171 0 143197 6 false true false Bon Appetit Management Company PO Box 417632 Boston MA 022417632 Dining Services 1163790 JD Lane Construction PO Box 38 Tigerville SC 29688 Construction Services 545632 Envirocare Landscape Management PO Box 80394 Simpsonville SC 29680 Landscape Services 300454 TSA Choice PO Box 1612 Candler NC 28715 information technology solutions 264146 Alan Dickerson 10 Milford Church Rd Taylors SC 29687 Construction Services 261850 8 228072 107000 228072 Independent Living Fees 623000 11961891 11961891 Skilled Nursing Fees 623000 4170357 4170357 Assisted Living Fees 623000 3748572 3748572 Earned Entrance Fees 623000 2934473 2934473 Companion Service Revenue 623000 604295 604295 0 0 0 0 23419588 1018953 1018953 0 0 135861 66988 135861 -66988 68873 68873 Other Resident Revenue 623000 548774 548774 0 0 0 0 548774 25284260 23968362 0 1087826 X 726095 399352 326743 7981097 7636928 344169 795911 704261 91650 82193 82193 39402 39402 44500 44500 90441 90441 2609741 2516074 93667 0 253533 177473 76060 78382 135 78247 2883060 2817088 65972 68221 22671 45550 3555211 3534715 20496 4132209 4108386 23823 334061 332135 1926 Supplies 777025 673773 103252 Resident Care 546350 546350 Repairs & Maintenance 336354 336354 Miscellaneous 215067 109597 105470 106658 66277 40381 0 25655511 23981569 1673942 0 7637075 3053696 484192 1189967 0 0 0 765 25930 251852 143703 122365834 33715542 89921827 88650292 28264561 37172981 0 354339 320152 57778 52561 126972389 130609282 1741393 2709397 84797588 85632817 72630739 70334809 0 18414266 20630530 177583986 179307553 X -50689675 -48825161 78078 126890 -50611597 -48698271 126972389 130609282 -371251 2284577 0 X false true X true false X 1875681 854885 228072 2958638 14706448 16300223 17584469 21082784 23419588 93093512 0 0 0 14706448 18175904 18439354 21082784 23647660 96052150 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 96052150 256511 241465 239526 399952 1018953 2156407 0 256511 241465 239526 399952 1018953 2156407 0 159838 127545 788901 527992 548774 2153050 15122797 18544914 19467781 22010728 25215387 100361607 0.9571 0.9633 0.02 0.015 X Schedule A, Part III, Line 12 Other Income DESCRIPTION - OTHER RESIDENT INCOME, COLUMN A - 159838.0, COLUMN B - 127545.0, COLUMN C - 788901.0, COLUMN D - 527992.0, COLUMN E - 548774.0, COLUMN F - 2153050.0; RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 105747856 28473272 77274584 6675268 3879879 2795389 9942710 1362391 8580319 88650292 Cash & Cash Equivalents 2728524 F Fixed Income 24312220 F Equities 10132237 F 37172981 APPLICANT DEPOSITS 1312446 Right-of-Use Operating Lease Obligations 18947323 REFUNDS DUE 370761 20630530 X 27478396 2284577 0 2284577 25193819 90441 0 90441 25284260 25565070 0 0 25565070 90441 0 90441 25655511 Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote The organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code and under similar state statutes. Accordingly, no income tax liability or provision for income taxes is reflected in these financial statements. As of December 31, 2023, the organization is no longer subject to income tax examination for its federal income tax returns prior to 2020. X false false false false false false false false false Bill Falls CFO 189901 0 0 0 0 0 0 0 27047 0 216948 0 0 0 James (Rick) Brackett CEO 245435 0 0 0 0 0 10290 0 27762 0 283487 0 0 0 Donald Lilly Executive VP of Operations 209263 0 0 0 0 0 8440 0 9803 0 227506 0 0 0 Angela Hecker Director of Marketing 65329 0 65500 0 22500 0 6386 0 18598 0 178313 0 0 0 A South Carolina Jobs - Economic Development Authority 570960018 837036DA7 2017-06-29 58611008 See Part IV false false false B South Carolina Jobs - Economic Development Authority 570960018 837031ZL0 2020-01-23 37609953 See Part VI false false false A 4930000 0 58611008 3571159 0 0 1172220 0 0 4157073 49758540 0 2017 true true true true B 17254260 0 37609953 1200361 0 0 640547 0 0 35784406 0 0 2021 false false true true A false false false false 0.0 0.0 0.0 false false true B false false false false 0.0 0.0 0.0 false false true A false false false true false false false false true B false true false false false false false false true A true B false Schedule K, Part I, Column (f) In June 2017, The South Carolina Jobs Economic Development Authority issued economic development refunding and revenue bonds (the "series 2017 bonds") in the amount of $57,455,000 for the organization. The proceeds of the series 2017 bonds were used to refund all of the previously issued bond debt and notes payable, to fund capital additions including pre-development costs of the community's expansion, to fund a debt service reserve fund, and to pay costs of issuance. The series 2017 bonds are due in varying installments through November 2052 and accrue interest at fixed rates ranging from 4.0% to 5.25%. The series 2017 bonds are collateralized by all gross revenues of the organization, assignment of leases, rents and profits, funds and accounts held by the bond trustee, and property and equipment held by the organization. Schedule K, Part I, Column (f) In January 2020, the authority issued economic development revenue bonds of (A) $18,695,000 of series a (the "series 2020a bonds") and (B) up to $17,000,000 of series b (The "series 2020B bonds"). The proceeds of the series 2020 bonds were used to (a) fund a project fund for the community's expansion and renovations (b) fund a debt service and interest reserve, and (c) to pay costs of issuance. The series 2020a bonds are due in varying installments through November 2054 and accrue interest at fixed rates ranging from 4.0% to 5.0%. During 2021, the initial entrance fee proceeds received on the sale of the 44 independent living expansion units was used to pay off the balance on the series 2020b bonds. Schedule K, Part IV, Line 2c COLUMN A Issuer name: South Carolina Jobs - Economic Development Authority The calculation for computing no rebate due was performed on 06/29/2022 X Steinway & Sons Model B Piano 1 107000 Cost 0 false false false Schedule M, Part I Explanations of reporting method for number of contributions Other - Steinway & Sons Model B Piano The organization is reporting both the number of contributions and the number of items received (one). Form 990, Part VI, Line 11b Review of form 990 by governing body The Form 990 is reviewed and approved by the organization's finance committee. the return is made available to all voting board members before it is filed with the IRS. Form 990, Part VI, Line 12c Conflict of interest policy The board of directors is required to sign a conflict of interest policy annually. Individuals realize their fiduciary duty to disclose any potential conflicts of interest so that the board can determine the appropriate course of action should a conflict arise. Form 990, Part VI, Line 15a Process to establish compensation of top management official The board approves the salaries of top management officials by utilizing comparability data. the ceo determines salary for key employees by utilizing comparability data and industry salary surveys. Form 990, Part VI, Line 15b Process to establish compensation of other employees The board approves the salaries of top management officials by utilizing comparability data. the ceo determines salary for key employees by utilizing comparability data and industry salary surveys. Form 990, Part VI, Line 19 Required documents available to the public The organization makes its governing documents, conflicts of interest policy, and financial statements available to the public upon request. Form 990, Part IX, Line 11g Other Fees Dining Services & Supplies - Total Expense: 2150682, Program Service Expense: 2150682, Management and General Expenses: , Fundraising Expenses: ; Contract Labor & Services - Total Expense: 459059, Program Service Expense: 365392, Management and General Expenses: 93667, Fundraising Expenses: ;