2025-09-30T13:48:24+00:00 2024-12-31 440160260 Forvis Mazars LLP 500 Ridgefield Court Asheville NC 28806 990 2024-01-01 510553716 Upstate Senior Living Inc UPST 8643713100 1500 Trailhead Court Greenville SC 29617 William D Falls CFO 8643713100 2025-09-30 true true Amy Bibby P00445891 8282542254 2025-09-04 2024 2025-03-06 01:10:19Z The Woodlands at Furman William D Falls 1500 Trailhead Court Greenville SC 29617 26691633 false X www.thewoodlandsatfurman.org X 2003 SC To be the retirement community of choice by nurturing a distinctive culture of enrichment. 10 10 458 107 0 228072 251048 23419588 24023029 1087826 1626894 548774 645245 25284260 26546216 0 0 9503103 10778517 0 0 16152408 16383816 25655511 27162333 -371251 -616117 130609282 136047103 179307553 182955721 -48698271 -46908618 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 25457314 24668274 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. 25457314 true true false 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 false false false false false false false false false false true 84 0 true 458 true false false false false false false false false false false false false false false X 10 10 false false false false false false false true true false false false true true true true true true true true false 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 Beth J Crigler Director 1.0 X 0 0 0 David Johnson Director 1.0 X 0 0 0 Francie Heller Director 1.0 X 0 0 0 Tad Melton Director 1.0 X 0 0 0 Walter Goldsmith Director 1.0 X 0 0 0 Bill Falls CFO 40.0 X 194911 0 35888 James Rick Brackett CEO 40.0 X 258136 0 40853 Donald Lilly Executive VP of Operations 40.0 X 214487 0 20498 Angela Hecker Director of Marketing 40.0 X 167953 0 27493 Becky Vuksta Sr. Director of Operations 40.0 X 130577 0 25211 Christopher Pagliaro Health Services Administrator 40.0 X 101936 0 4600 Elcainey Baker Senior Director of Facilities 40.0 X 101734 0 31993 Kathy Young Controller 40.0 X 109348 0 18151 1279082 0 204687 8 false true false THW Design 2100 River Edge Parkway Suite 900 Atlanta GA 30328 Architectural Services 948134 Cheney Brothers 195 Business Park Dr Statesville NC 28677 Food Vendor 842274 JD Lane Construction PO Box 38 Tigerville SC 29688 Construction Services 607889 Alan Dickerson 10 Milford Church Rd Taylors SC 29687 Painting Services 380786 Envirocare Landscape Management PO Box 80394 Simpsonville SC 29680 Landscape Services 366472 8 251048 21633 251048 Independent Living Fees 623000 12294539 12294539 Skilled Nursing Fees 623000 4621228 4621228 Assisted Living Fees 623000 3738761 3738761 Earned Entrance Fees 623000 2739860 2739860 Companion Service Revenue 623000 628641 628641 0 0 0 0 24023029 1325894 1325894 0 0 446417 145417 446417 -145417 301000 301000 0 Other Resident Revenue 623000 645245 645245 0 0 0 0 645245 26546216 24668274 0 1626894 762927 419610 343317 9150719 8809830 340889 864871 783202 81669 54493 54493 73215 73215 48000 48000 98678 98678 2071865 1981214 90651 0 280565 196816 83749 552202 461846 90356 70169 4918 65251 2994627 2936093 58534 92435 23854 68581 3510944 3490703 20241 4387451 4362157 25294 354099 352058 2041 Resident Care 750067 750067 Repairs & Maintenance 373366 360466 12900 Miscellaneous 274362 176842 97520 Supplies 239284 239284 157994 108354 49640 0 27162333 25457314 1705019 0 3053696 2350257 1189967 982610 0 0 0 0 25930 34060 143703 203237 126659030 37793707 88650292 88865323 37172981 43274857 0 320152 297581 52561 39178 130609282 136047103 2709397 2882625 85632817 88846416 70334809 69109171 0 0 20630530 22117509 179307553 182955721 X -48825161 -47199992 126890 291374 -48698271 -46908618 130609282 136047103 -616117 2405770 0 X false true true false X 1875681 854885 228072 251048 3209686 16300223 17584469 21082784 23419588 24023029 102410093 0 0 0 18175904 18439354 21082784 23647660 24274077 105619779 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 105619779 241465 239526 399952 1018953 1325894 3225790 0 241465 239526 399952 1018953 1325894 3225790 0 127545 788901 527992 548774 645245 2638457 18544914 19467781 22010728 25215387 26245216 111484026 0.94740 0.95706 0.03 0.02 X Schedule A, Part III, Line 12 Other Income DESCRIPTION - OTHER RESIDENT INCOME, COLUMN A - 127545.0, COLUMN B - 788901.0, COLUMN C - 527992.0, COLUMN D - 548774.0, COLUMN E - 645245.0, COLUMN F - 2638457.0; RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 107149796 31422744 75727052 7315092 4457846 2857246 12194142 1913117 10281025 88865323 Closely-held equity interests Financial derivatives Cash & Cash Equivalents 3646163 F Fixed Income 29199166 F Equities 10429528 F 43274857 Federal Income Taxes APPLICANT DEPOSITS 1708706 Right-of-Use Operating Lease Obligations 20367262 REFUNDS DUE 41541 22117509 X 28853308 2405770 0 2405770 26447538 98678 0 98678 26546216 27063655 0 0 27063655 98678 0 98678 27162333 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, 2024, the organization is no longer subject to income tax examination for its federal income tax returns prior to 2021. X false false false false false false false false false Bill Falls CFO 193711 0 1200 0 0 0 5705 0 30183 0 230799 0 0 0 James Rick Brackett CEO 256636 0 1500 0 0 0 10345 0 30508 0 298989 0 0 0 Donald Lilly Executive VP of Operations 213287 0 1200 0 0 0 8703 0 11795 0 234985 0 0 0 Angela Hecker Director of Marketing 67253 0 77700 0 23000 0 6994 0 20499 0 195446 0 0 0 Becky Vuksta Sr. Director of Operations 129377 0 1200 0 0 0 5514 0 19697 0 155788 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 5825000 0 58611008 3655498 0 0 1172220 0 0 4157073 49758540 0 2017 true true true true B 17519260 0 37609953 1230355 0 0 640547 0 0 35784406 0 0 2021 false false true true A false false false false false false 0.0 0.0 0.0 false false 0 false true B false false false false false false 0.0 0.0 0.0 false false 0 false true A false false false true false false 0 false false false 0 false false true B false false false true false false 0 false false false 0 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 Schedule K, Part IV, Line 2c COLUMN B Issuer name: South Carolina Jobs - Economic Development Authority The calculation for computing no rebate due was performed on 01/23/2025 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.