2023-11-13T09:15:02-06:00 2022-12-31 410746749 CLIFTONLARSONALLEN LLP 227 WEST TRADE STREET SUITE 800 CHARLOTTE NC 28202 990 2022-01-01 520607932 PRESBYTERIAN HOME OF MARYLAND INC PRES 4435622523 PO BOX 159 FOREST HILL MD 210500159 ERIK STULLER CHIEF FINANCIAL OFFICER 4108234622 2023-11-10 1 ERIK STULLER 999009999 0 JOHN NORMAN P01506766 7049985200 2023-11-08 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z ERIK STULLER PO BOX 159 FOREST HILL MD 210500159 13808201 0 X N/A X 1883 MD THE PRESBYTERIAN HOME OF MARYLAND, INC, PROVIDES RETIREMENT LIVING AND HEALTH CARE SERVICES. 13 9 12 0 0 0 253430 30140 0 0 3116644 5182597 24689 27067 3394763 5239804 0 0 0 0 1119540 1000676 0 0 0 1462282 734125 2581822 1734801 812941 3505003 44305439 31031953 11950738 9317765 32354701 21714188 X THE PRESBYTERIAN HOME OF MARYLAND, INC, IS A NONPROFIT 501(C)(3) ORGANIZATION LOCATED IN HARFORD COUNTY, MARYLAND. THE ORGANIZATION PROVIDES RETIREMENT LIVING AND HEALTH CARE THROUGH THE CONTINUUM OF LIFE, DEDICATED TO SUPERB SERVICE WITH THE VALUES OF DIGNITY, TRUST AND INDEPENDENCE. 0 0 SEE SCHEDULE O. 1 1 0 1 0 0 0 0 0 1 1 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 9 0 12 1 0 0 0 0 0 0 0 0 0 0 0 0 X 13 9 1 0 0 0 0 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 MD X ERIK STULLER 4104040839 301 N FOUNTAIN GREEN RD BEL AIR MD 21015 SUSAN F SHEA PRESIDENT & CEO 40.00 X X 183915 0 17101 ERIK STULLER CFO 40.00 X X 167591 0 2125 JOSEPH SNEE JR ESQ BOARD MEMBER 0.30 X 155936 0 0 PAUL THOMPSON BOARD MEMBER 0.20 X 0 0 0 CAROL LIENHARD BOARD MEMBER 0.20 X 0 0 0 PATTI DRESHER BOARD MEMBER 0.20 X 0 0 0 TOM FIDLER BOARD MEMBER 0.20 X 0 0 0 REV RAYMOND R MEUTE JR BOARD MEMBER 0.20 X 0 0 0 WILLIAM SECCURO SECRETARY 0.20 X X 0 0 0 SCOTT ELLIOTT BOARD MEMBER 0.20 X 0 0 0 JOSEPH SLOVICK CHAIRMAN 1.00 X X 0 0 0 JIM HARKINS VICE CHAIRMAN 0.30 X X 0 0 0 JOHN KRAUS BOARD MEMBER 0.20 X 0 0 0 507442 0 19226 3 0 1 0 WHITING-TURNER CONTRACTING CO PO BOX 17596 BALTIMORE MD 21297 CONSTRUCTION SERVICES 2851162 1 30140 30140 182551 182551 7039 7039 16301 0 16301 16301 16301 13568443 8564424 3973 5004019 -3973 5000046 5000046 MISCELLANEOUS REVENUE 623000 3727 3727 3727 5239804 0 0 5209664 442102 442102 439700 439700 2465 2465 52525 52525 63884 63884 38953 38953 43288 43288 73719 73719 16066 16066 39208 39208 32237 32237 24498 24498 117299 117299 16519 16519 262062 262062 16650 16650 42807 42807 MISCELLANEOUS 10819 10819 1734801 0 1734801 0 211839 155632 2097880 4017235 16164 12441 81798 63689 131752 114236 13953533 17516 17796790 8735016 10147435 18030424 44305439 31031953 907370 306603 9008665 9011162 2034703 0 11950738 9317765 X 29671643 19686158 2683058 2028030 32354701 21714188 44305439 31031953 X 3505003 -7619616 -6525900 X 0 1 X 1 0 X 35170 4890 65595 253430 30140 389225 35170 4890 65595 253430 30140 389225 389225 388394 404052 243286 193128 205891 1434751 4176 9773 3841 3727 21517 1845493 8215 0.21090 0.19460 X THE ORGANIZATION HAS BEEN IN A PERIOD OF TRANSITION AS IT BUILDS NEW FACILITIES. AS SUCH, THE ORGANIZATION HAS DETERMINED THAT TO MAINTAIN STATUS AS A PUBLIC CHARITY, THE ORGANIZATION MUST COMPLETE THE PART II SUPPORT TEST. THE ORGANIZATION, WHILE FALLING BELOW THE 33 1/3 SUPPORT TEST, BELIEVES THAT IT MEETS THE FACTS AND CIRCUMSTANCES FOR THE FOLLOWING REASONS:1. THE ORGANIZATION, DESPITE COVID, IS SHOWING AN UPWARD TREND IN THE AMOUNT OF CONTRIBUTIONS IT IS RECEIVING YEAR OVER YEAR FOR THE PAST THREE YEARS AND SHOWED A SIGNIFICANT JUMP FROM 2020 TO 2022. AS A RESULT, THE ORGANIZATION CONTINUES TO INCREASE ITS PUBLIC SUPPORT PERCENTAGE UNDER THE 170(B)(1)(A)(VI). 2. THE ORGANIZATION'S BOARD IS COMPRISED OF INDEPENDENTT BOARD MEMBERS THAT REPRESENT A BROAD SPECTRUM OF THE COMMUNITY.3. CURRENTLY THE BOARD OF DIRECTORS IS EVALUATING ITS OPTIONS AND THE ORGANIZATION IS NOT IN OPERATION (OTHER THAN TENDING TO ADMINISTRATIVE MATTERS) OR PROVIDING ANY SERVICES. THE BOARD BELIEVES IT HAS FOUND A PATH THAT, IN THE NEAR FUTURE, WILL ALLOW THE ORGANIZATION TO MOVE BACK TOWARD BEING OPERATIONAL. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 273365 259584 532949 799424 68341 64896 133237 199856 2654198 140 -491173 147229 10635 2005301 2292788 4935 496680 127770 12435 2654198 2026437 4495 387374 109415 16103 2292788 1593661 3340 499732 55800 14496 2026437 1633498 3870 -30052 13655 1593661 0.45930 0.54070 0 0 131752 114236 17516 17516 ACCRUED INVESTMENT INCOME 14057 ASSETS AVAILABLE FOR SALE 17990238 BENEFICIAL INTEREST IN REMAINDER TRUSTS 22729 OTHER ASSETS LONG TERM 3400 18030424 X PART V, LINE 4: TO PROVIDE SUPPORT FOR THE ORGANIZATION'S MISSION. PART X, LINE 2: THE ORGANIZATION FOLLOWS THE INCOME TAX STANDARD FOR UNCERTAIN TAX POSITIONS. THIS STANDARD CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN AN ORGANIZATION'S CONSOLIDATED FINANCIAL STATEMENTS IN ACCORDANCE WITH THE INCOME TAX STANDARD. THIS STANDARD PRESCRIBES RECOGNITION AND MEASUREMENT OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN THAT ARE NOT CERTAIN TO BE REALIZED. THE APPLICATION OF THIS STANDARD HAD NO IMPACT ON THE ORGANIZATION'S CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 2022 AND 2021. X X X X 0 0 0 0 0 0 0 0 0 SUSAN F SHEA PRESIDENT & CEO 183915 0 0 0 0 0 0 0 17101 0 201016 0 0 0 ERIK STULLER CFO 167591 0 0 0 0 0 0 0 2125 0 169716 0 0 0 JOSEPH SNEE JR ESQ BOARD MEMBER 155936 0 0 0 0 0 0 0 0 0 155936 0 0 0 PART I, LINE 3 THE PERSONNEL COMMITTEE RECOMMENDS THE ANNUAL SALARY AMOUNT OF THE CEO AND CFO TO THE BOARD OF DIRECTORS ANNUALLY. PUBLISHED INDUSTRY COMPENSATION GUIDES ARE USED AS A GUIDE BY THE COMMITTEE. THE REVIEW TAKES PLACE ANNUALLY, AND THE INFORMATION IS PRESENTED BY THE COMMITTEE TO THE BOARD OF DIRECTORS IN DECEMBER FOR APPROVAL. FORM 990, PART III, LINE 4A HISTORY: ON JANUARY 24, 1884, THE PRESBYTERIAN HOME OF BALTIMORE, AS IT WAS KNOWN, FIRST OPENED ITS DOORS ON CALVERT STREET IN DOWNTOWN BALTIMORE. IN 1920 THE NAME OF THE ORGANIZATION WAS CHANGED TO THE PRESBYTERIAN HOME OF MARYLAND, AND IN 1929, THE ORGANIZATION MOVED TO THE OFFUTT ESTATE, A LARGE AND GRACIOUS HOME IN TOWSON, MARYLAND. DURING THE PERIOD BETWEEN 1950 AND 1990 THE ORGANIZATION EXPANDED THE BUILDING ON ITS CAMPUS TO ACCOMODATE MORE SENIORS AND OFFER MORE SERVICES. BY THE LATE 1990S THE ORGANIZATION BEGAN TO REALIZE A DECLINE IN CENSUS AND MODIFIED ITS MISSION FROM AN INSTITUTION SERVING THE NEEDS OF PRESBYTERIAN CHURCH MEMBERS TO AN ORGANIZATION THAT WELCOMED RESIDENTS OF ALL FAITHS AND DENOMINATIONS. IN 2001 THE ORGANIZATION REALIZED THE NEED TO RELOCATE OPERATIONS TO A NEW FACILITY. THE FACILITY LOCATED IN TOWSON, BALTIMORE COUNTY, MARYLAND, WAS BECOMING OBSOLETE AND DIFFICULT TO MARKET TO A NEW GENERATION OF SENIORS. THE TOWSON FACILITY, LOCATED IN A RESIDENTIAL NEIGHBORHOOD, FACED VARIOUS ZONING RESTRICTIONS WHICH SIGNIFICANTLY DIMINISHED ANY POSSIBILITY FOR RENOVATION ON THE SITE. DURING THE PERIOD BETWEEN 2001 AND 2016 THE ORGANIZATION EXPERIENCED A SUBSTANTIAL DECREASE IN AVERAGE RESIDENT CENSUS AND MOUNTING ANNUAL OPERATING LOSSES. IN 2004 THE ORGANIZATION ACQUIRED 138 ACRES OF LAND IN ABERDEEN, HARFORD COUNTY, MARYLAND, FOR THE PURPOSE OF CONSTRUCTING A CONTINUING CARE RETIREMENT COMMUNITY TO BE KNOWN AS THE VILLAGE AT CARSINS RUN. DUE TO VARIOUS FINANCIAL ISSUES, THE PROJECT AS PLANNED WAS DEEMED UNFEASIBLE AND THE PROJECT WAS ABANDONED IN 2011. THE PROPERTY IS AVAILABLE FOR SALE. IN 2015 THE ORGANIZATION ACQUIRED 47 ACRES OF LAND LOCATED IN BEL AIR, HARFORD COUNTY, MARYLAND, FOR THE PURPOSE OF CONSTRUCTING A CONTINUING CARE RETIREMENT COMMUNITY TO BE KNOWN AS CARSINS RUN AT EVA MAR ("THE PROJECT") AND PLANS TO OPERATE THE PROJECT. THE FIRST PHASE OF THE PROJECT IS PLANNED TO BE COMPRISED OF 137 INDEPENDENT LIVING UNITS, 32 ASSISTED LIVING UNITS, 12 MEMORY CARE UNITS AND 12 COMPREHENSIVE CARE UNITS. IN APRIL 2016, THE MARYLAND DEPARTMENT OF AGING APPROVED THE FEASIBILITY STUDY FOR THE PROJECT WHICH ALLOWS FOR THE INITIAL MARKETING AND ACCEPTANCE OF DEPOSITS FROM PROSPECTIVE RESIDENTS. IT IS ANTICIPATED THAT THE FINANCING THRESHOLD FOR THE NUMBER OF REQUIRED PROSPECTIVE RESIDENT DEPOSITS WILL BE MET DURING THE SPRING OF 2022, ALLOWING FOR THE ACQUISITION OF FINANCING AND THE BEGINNING OF CONSTRUCTION OF THE PROJECT. THE PROJECT IS EXPECTED TO BE COMPLETED AND OPEN FOR OCCUPANCY IN THE FALL OF 2023. IN APRIL 2016, THE BOARD APPROVED THE CESSATION OF RESIDENT CARE OPERATIONS AT THE TOWSON FACILITY AND AUTHORIZED MANAGEMENT TO MAKE THE PUBLIC ANNOUNCEMENT ON MAY 2, 2016 OF THE FACILITY CLOSURE BY NOVEMBER, 2016. THE BOARD ALSO AUTHORIZED MANAGEMENT TO LIST THE TOWSON FACILITY AS AVAILABLE FOR SALE AFTER THE ANNOUNCEMENT. THE ORDERLY CLOSING OF THE TOWSON FACILITY AND OPERATIONS WAS COMPLETED IN AUGUST 2016. THE FACILITY WAS VACATED AND THE ORGANIZATION'S MANAGEMENT OFFICES WERE MOVED TO FOREST HILL, MARYLAND. THE CLOSING OF THE TOWSON FACILITY WAS DEEMED NECESSARY IN ORDER TO RETAIN FINANCIAL RESOURCES NECESSARY TO DEVELOP THE PROJECT. IN JULY, 2016 THE BOARD ESTABLISHED A BENEVOLENCE FUND FOR THE PURPOSE OF SUPPORTING THE FUTURE RESIDENTS OF THE PROJECT WHO MIGHT RUN OUT OF FUNDS. THE BENEVOLENCE FUND WAS INITIALLY FUNDED THROUGH THE PROCEEDS FROM THE SALE OF FURNITURE AND EQUIPMENT OF THE TOWSON FACILITY. FUNDRAISING EFFORTS FOR THIS PURPOSE ARE EXPECTED TO CONTINUE THROUGHOUT THE MARKETING AND CONSTRUCTION PERIOD OF THE PROJECT. DURING 2021 THE ORGANIZATION CONTINUED WITH SITE DEVELOPMENT, ARCHITECTURAL PLANNING AND MARKETING OF THE PROJECT. ON JUNE 16, 2021 THE BOARD VOTED TO SELF-FINANCE AND BEGIN CONSTRUCTION ON ONE OF THE PROJECT'S 10-UNIT INDEPENDENT LIVING MANOR HOME (THE MANOR HOME). CONSTRUCTION OF THE MANOR HOME BEGAN IN OCTOBER, 2021. IN JANUARY, 2022 THE BOARD OF DIRECTORS VOTED TO ABANDON THE CONTINUING CARE RETIREMENT COMMUNITY PROJECT. THIS DECISION WAS BASED ON THE TREMENDOUS INCREASE IN CONSTRUCTION COSTS WHICH RENDERED THE PROJECT FINANCIALLY UNFEASIBLE. THE BOARD ALSO DECIDED THAT EIGHT OF THE TWELVE EMPLOYEES OF THE ORGANIZATION WOULD BE LAID-OFF AND CORPORATE OFFICE LOCATIONS WOULD BE CONSOLIDATED INTO ONE WHICH IS ON THE PROPOSED PROJECT SITE. IN JULY, 2022 THE BOARD OF DIRECTORS VOTED TO ABANDON THE CONSTRUCTION OF THE MANOR HOME DUE TO SIGNIFICANT DELAYS IN THE RE-PERMITTING PROCESS RESULTING FROM THE TERMINATION OF THE PROJECT. IN AUGUST, 2022 THE BOARD OF DIRECTORS VOTED TO SELL THE BEL AIR PROPERTY TO AN UNRELATED PARTY. CURRENTLY THE BOARD OF DIRECTORS IS EVALUATING ITS OPTIONS AND THE ORGANIZATION IS NOT IN OPERATION (OTHER THAN TENDING TO ADMINISTRATIVE MATTERS) OR PROVIDING ANY SERVICES. PROGRAM SERVICES: PRIOR TO AUGUST, 2016, THE ORGANIZATION OPERATED A CONTINUING CARE RETIREMENT COMMUNITY LOCATED IN TOWSON, MARYLAND. THE TOWSON FACILITY WAS LICENSED FOR 78 ASSISTED LIVING UNITS AND 22 COMPREHENSIVE CARE UNITS. SERVICES WERE DESIGNED TO PROVIDE THE FINEST QUALITY OF CARE AS WELL AS THE FINEST QUALITY OF LIFE POSSIBLE. THESE SERVICES INCLUDED: NURSING, MEDICAL CARE, HOUSEKEEPING AND MAINTENANCE, DIETARY SERVICE AND RESIDENT ACTIVITIES. THE ORGANIZATION IS DETERMINED TO CONTINUE ITS LEGACY OF PROVIDING SUPERIOR QUALITY CARE TO THE RESIDENTS OF CARSINS RUN AT EVA MAR ONCE THE PROJECT IS COMPLETED AND OPERATING. FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE CONSISTS OF ACTIVE BOARD MEMBERS AND ACTS ON BEHALF OF THE GOVERNING BOARD OCCASIONALLY WHEN DELEGATED TO DO SO BY THE GOVERNING BOARD. FORM 990, PART VI, SECTION A, LINE 2 JOSEPH SNEE, PATTI DRESHER, PAUL THOMPSON, TOM FIDLER, AND SCOTT ELLIOTT HAVE BUSINESS RELATIONSHIPS OR SERVE ON OTHER BOARDS TOGETHER. FORM 990, PART VI, SECTION A, LINE 7A MARYLAND LAW REQUIRES THAT A RESIDENT OF THE FACILITY, ELECTED BY THE RESIDENT POPULATION, SERVE AS A MEMBER OF THE BOARD. THE BOARD IS SELF PERPETUATING. ALL NEW MEMBERS HAVE THE SAME RIGHTS AS EXISTING MEMBERS. FORM 990, PART VI, SECTION A, LINE 7B DECISIONS MAY REQUIRE THE APPROVAL OF THE MARYLAND DEPARTMENT OF AGING AS A MATTER OF LAW. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS REVIEWED BY THE CFO AND THE TREASURER. A COPY IS PROVIDED TO THE ENTIRE GOVERNING BODY PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION MONITORS THIS ANNUALLY. FORM 990, PART VI, SECTION B, LINE 15 THE PERSONNEL COMMITTEE RECOMMENDS THE ANNUAL SALARY AMOUNT OF THE CEO AND CFO TO THE BOARD OF DIRECTORS ANNUALLY. PUBLISHED INDUSTRY COMPENSATION GUIDES ARE USED AS A GUIDE BY THE COMMITTEE. THE REVIEW TAKES PLACE ANNUALLY, AND THE INFORMATION IS PRESENTED BY THE COMMITTEE TO THE BOARD OF DIRECTORS IN DECEMBER FOR APPROVAL. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, THE CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE ALL AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS -6,131. LOSS ON IMPAIRMENT OF ASSETS -1,444,610. LOSS ON DISCONTINUANCE OF PROJECT -5,075,159.