2025-01-23T14:49:32+00:00 2023-12-31 440160260 Forvis Mazars LLP 500 Ridgefield Court Asheville NC 28806 990 2023-01-01 311644805 Samaritan Housing Foundation Inc SAMA 8662611814 17001 Searstone Drive Cary NC 27513 Stanley Brading President 8662611814 2025-01-23 true true Amy Bibby P00445891 8282542254 2025-01-23 2023 2024-10-15 13:58:12Z 19691531 false X www.searstone.com X NC LIFE CARE FOR RESIDENTS OF SIXTY-TWO PLUS (62+) YEARS OF AGE, WHILE EMPHASIZING AN ACTIVE LIFESTYLE, INDIVIDUAL INDEPENDENCE, PERSONAL DIGNITY, DESIGNED TO MEET THEIR SPECIAL NEEDS FOR HOUSING, HEALTHCARE, AND FINANCIAL SECURITY. 8 8 290 0 0 0 74004 78881 14723456 16114075 -304823 2272783 0 0 14492637 18465739 742029 803363 0 0 5573215 5906535 0 0 0 14010067 15873083 20325311 22582981 -5832674 -4117242 316589034 317862620 403094478 412649958 -86505444 -94787338 LIFE CARE FOR RESIDENTS OF SIXTY-TWO PLUS (62+) YEARS OF AGE, WHILE EMPHASIZING AN ACTIVE LIFESTYLE, INDIVIDUAL INDEPENDENCE, PERSONAL DIGNITY, DESIGNED TO MEET THEIR SPECIAL NEEDS FOR HOUSING, HEALTHCARE, AND FINANCIAL SECURITY. false false 18950384 803363 16114075 Searstone Retirement Community is made up of 169 living units for 245 people and 39 beds of nursing care, 14 for assisted living and 25 for nursing care. Services such as meals, housekeeping, maintenance, activities, transportation, and nursing services are available. We offer physical, occupational and speech therapy for those residents who can benefit from these programs. We have a food service program which provides meals to residents, their guests and our staff. Activities are offered in each level of care depending on the level of activities suitable for that level of care, from going out to public programs such as theater productions to symphonies, or having in-house events comprised of theme parties and games. Our nursing services cover the entire campus and range from emergency nursing services to 24-hour nursing services. 18950384 true true false false false false false false false true false false false true true true false false false false false false false false false false true false true true false false false false false false false false false false false false false false false false false false false true 58 0 true 290 true false false false false false false false false false false false false X 8 8 false true false false false false false true true false false true true true true true true true true false GA NC X Ken Bullock 9192340408 17001 SEARSTONE DR Cary NC 27513 Charles Henderson Director 2.0 X 2250 0 0 Charles Norman Director 2.0 X 8000 0 0 Darryl Mills Special Advisor 2.0 X 10200 0 0 James Pierce Director 4.0 X 10000 0 0 Linda Coleman Director 2.0 X 6850 0 0 Mack Leath Director 2.0 X 8950 0 0 Marc Hewitt Director 2.0 X 2250 0 0 Tom Beebe Director 2.0 X 9050 0 0 Kenneth L Bullock CFO 40.0 X 167392 0 13963 Stanley G Brading President 25.0 X 285224 0 24401 W Derrick Moore Executive Director 40.0 X 192197 0 3592 Allie Ligay Director of Marketing 40.0 X 154435 0 9185 Paula Williams Director of Nursing 40.0 X 101863 0 0 Siva Parnam Administrator 40.0 X 114591 0 7191 1073252 0 58332 6 false true false Clancy & Theys Construction Company 516 W Cabarrus St Raleigh NC 27603 Construction Contractor 57469125 Bridget Bohacz & Associates 1743 Dorsey Road Hanover MD 21076 Interior Design 1693713 Sodexo Inc & Affilates PO Box 360170 Pittsburgh PA 15251 Food Service 1380063 K&L Gates LLP PO Box 830304 Philadelphia PA 19182 Legal Services 930647 Grreenbrier Development LLC 3232 McKinney Avenue Dallas TX 75204 Project Management 861541 5 78881 78881 RESIDENT FEES 623990 12921299 12921299 AMORTIZATION OF ENTRANCE FEE 623990 1737367 1737367 RESIDENT MEALS 623990 1041883 1041883 RESIDENT SERVICES 623990 413526 413526 0 0 0 0 16114075 2355322 2355322 0 0 1143253 1225792 -82539 0 -82539 -82539 0 0 0 0 0 18465739 16114075 0 2272783 803363 803363 644813 0 644813 0 4272469 4272469 9091 7273 1818 570033 456026 114007 410129 328103 82026 466267 466267 1075935 1075935 119097 119097 1291950 1033560 258390 0 417688 417688 886493 709194 177299 209461 167569 41892 815735 652588 163147 77405 61924 15481 18718 14974 3744 5661334 5661334 3593757 3593757 292239 292239 Food and Beverage 692037 692037 Other Costs 254967 203974 50993 0 0 0 0 22582981 18950384 3632597 0 3067145 809979 378917 541330 0 0 281472 236526 269905332 31216554 171746896 238688778 135408062 71279232 0 0 5706542 6306775 316589034 317862620 10217116 15063896 12228673 12265678 260217496 265148738 0 120431193 120171646 403094478 412649958 X -86912485 -95268260 407041 480922 -86505444 -94787338 316589034 317862620 X -4117242 526640 -4691292 X false true X true false X 59304 39955 934323 74004 78881 1186467 11625887 12449134 13248385 13691399 15072192 66086997 925221 966575 978052 1032057 1041883 4943788 0 0 12610412 13455664 15160760 14797460 16192956 72217252 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 72217252 352677 200248 150289 1152366 2355322 4210902 0 352677 200248 150289 1152366 2355322 4210902 0 0 0 0 0 0 0 12963089 13655912 15311049 15949826 18548278 76428154 0.9449 0.9696 0.06 0.0304 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 21257868 21257868 200537684 25176591 175361093 44239637 5554084 38685553 2657791 333674 2324117 1212352 152205 1060147 238688778 RESIDENT DEPOSITS 12957410 SUBORDINATE OBLIGATIONS 15554075 REFUNDABLE ADVANCE FEES 91660161 120171646 X 14301087 526640 -4691292 -4164652 18465739 0 0 18465739 22582981 0 0 22582981 0 0 22582981 Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote THE CORPORATION IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE; ACCORDINGLY, THE ACCOMPANYING FINANCIAL STATEMENTS DO NOT REFLECT A PROVISION OR LIABILITY FOR FEDERAL AND STATE INCOME TAXES. THE CORPORATION HAS DETERMINED THAT IT DOES NOT HAVE ANY MATERIAL UNRECOGNIZED TAX BENEFITS OR OBLIGATIONS AS OF 2023 OR 2022. Schedule D, Part XI, Line 2(d) Other revenues in audited financial statements not in form 990 Loss on early extinguishment of bonds - -4691292 true LUTHERAN SERVICES CAROLINAS PO Box 947 Salisbury NC 28145 201457236 501(c)(3) 803363 Assistance to other not for profits that meet our charitable purpose 1 0 Schedule I, Part I, Line 2 THE ORGANIZATION MAINTAINS A RELATIONSHIP WITH THE RECIPIENT ORGANIZATION TO ENSURE FUNDS ARE SPENT FOR INTENDED PURPOSES. Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds. THE ORGANIZATION MAINTAINS A RELATIONSHIP WITH THE RECIPIENT ORGANIZATION TO ENSURE FUNDS ARE SPENT FOR INTENDED PURPOSES. X X X false false false false false false false false false Stanley G Brading President 285224 0 0 0 0 0 0 0 24401 0 309625 0 0 0 Kenneth L Bullock CFO 167392 0 0 0 0 0 2673 0 11290 0 181355 0 0 0 W Derrick Moore Executive Director 192197 0 0 0 0 0 2383 0 1209 0 195789 0 0 0 Allie Ligay Director of Marketing 154435 0 0 0 0 0 1579 0 7606 0 163620 0 0 0 A PUBLIC FINANCE AUTHORITY 273866124 74442PTL9 2021-11-10 172635237 REVENUE BONDS (SEARSTONE CCRC PROJECT) SERIES 2021 A-B AND REFUNDING false false false B PUBLIC FINANCE AUTHORITY 273866124 74442PTM7 2022-03-03 8499510 REVENUE BONDS (SEARSTONE CCRC PROJECT) SERIES 2022A false false false C PUBLIC FINANCE AUTHORITY 273866124 74442PTL9 2023-03-03 77797207 Revenue Bonds (SearStone CCRC Project) Series 2017 false false false A 172635237 7598714 5037944 144378285 15620294 false false false true B 25000 8499510 8499510 true true true false C 77797207 135187 77797207 true false false true A false false true true false 0.0 0.0 0.0 false false true B false false true true false 0.0 0.0 0.0 false false true C false false true true false 0.0 0.0 0.0 false false true A false true false false false false true TD Bank 3.0 false true B false true false false false false false false true C false true false false false false false false true A true B true C true Form 990, Part VI, Line 3 Delegation of management duties SAMARITAN HOUSING FOUNDATION DELEGATED ITS USUAL MANAGEMENT DUTIES TO SEARSTONE-RLA THE TAX YEAR. THE TOTAL AMOUNT OF THE TRANSACTION IS $396,000 Form 990, Part VI, Line 11b Review of form 990 by governing body THE 990-PREPARATION FILE IS COMPLETED BY THE CFO. THE CFO REVIEWS IT AND PROVIDES IT TO THE BOARD, SSRLA, MANAGEMENT AND THE CORPORATE ATTORNEY FOR COMMENT. THE FINAL 990 IS DISTRIBUTED TO THE BOARD AND FILED WITH THE IRS. Form 990, Part VI, Line 12c Conflict of interest policy YEARLY, THE POLICY IS ISSUED TO THE BOARD AT A REGULAR BOARD MEETING. THE MEMBERS ARE ASKED TO REVIEW AND THEN COMPLETE THE YEARLY STATEMENT. THE STATEMENTS ARE KEPT BY THE ADMINISTRATIVE ASSISTANT. Form 990, Part VI, Line 15a Process to establish compensation of top management official The President and Chief Executive Officer's Compensation is fixed pursuant to an Employment Agreement approved by the Compensation Committee of the organization's Board of Directors, which is comprised of independent members of the organization's Board of Directors. Form 990, Part VI, Line 15b Process to establish compensation of other employees THE HR MANAGER OBTAINS PAY INFORMATION FOR ALL POSITIONS INCLUDING TOP PERSONNEL. SHE REVIEWS OUR SALARIES AND MAKES RECOMMENDATIONS TO SEARSTONE-RLA AND SENIOR MANAGEMENT FOR ADJUSTMENTS TO THE PAY BAND. SEARSTONE-RLA AND MANAGEMENT REVIEWS THE RECOMMENDATIONS AND MAKE APPROPRIATE CHANGES. THE CHANGES ARE MADE IN THE NEXT FISCAL YEAR BUDGET. Form 990, Part VI, Line 19 Required documents available to the public THE ORGANIZATION PROVIDES COPIES OF ITS FINANCIAL STATEMENTS AND GOVERNING DOCUMENTS UPON REQUEST AT ITS OFFICES. Form 990, Part XI, Line 9 Other changes in net assets or fund balances Loss on early extinguishment of bonds - -4691292;