2025-11-10T07:54:47+00:00 2024-12-31 440160260 Forvis Mazars LLP 500 Ridgefield Court Asheville NC 28806 990 2024-01-01 311644805 Samaritan Housing Foundation Inc SAMA 8662611814 17001 Searstone Drive Cary NC 27513 Stanley Brading President 8662611814 2025-11-10 true Amy Bibby P00445891 8282542254 2025-10-28 2024 2025-03-06 01:10:19Z Stanley Brading 17001 Searstone Drive Cary NC 27513 47450232 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. 7 7 346 20 0 78881 105418 16114075 23696911 2272783 4026151 0 8100 18465739 27836580 803363 1198155 0 0 5906535 7482485 0 0 0 15873083 24135346 22582981 32815986 -4117242 -4979406 317862620 325212213 412649958 425575075 -94787338 -100362862 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 28462784 1198155 23696911 Searstone Retirement Community is made up of 318 living units for 489 people and 49 beds of skilled nursing care, 29 for assisted living and 14 for memory 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. 28462784 true true false 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 false true 65 0 true 346 true false false false false false false false false false false false false X 7 7 false true false false false false false true true false false false true true true true true true true true false false GA NC X Ken Bullock 9192340408 17001 SEARSTONE DR Cary NC 27513 STANLEY G BRADING PRESIDENT 25.0 X X 286072 0 2472 CHARLES NORMAN DIRECTOR 2.0 X 8000 0 0 DARRYL MILLS SPECIAL ADVISOR 2.0 X 5950 0 0 JAMES PIERCE DIRECTOR 2.0 X 10334 0 0 LINDA COLEMAN DIRECTOR 2.0 X 9300 0 0 MACK LEATH DIRECTOR 2.0 X 9000 0 0 MARK HEWITT DIRECTOR 2.0 X 0 0 0 ROGER HEISER SPECIAL ADVISOR 2.0 X 0 0 0 TOM BEEBE DIRECTOR 2.0 X 10000 0 0 KENNETH L BULLOCK CFO 40.0 X 206573 0 25650 MATTHEW T TOWLER EXECUTIVE DIRECTOR 40.0 X 43886 0 3067 W DERRICK MOORE FORMER EXECUTIVE DIRECTOR 40.0 X 288987 0 9208 ALLIE LIGAY DIRECTOR OF MARKETING 40.0 X 212284 0 10266 SCOTT EVANS ENVIRONMENTAL SERVICE DIRECTOR 40.0 X 101928 0 19116 SIVAPRASAD PARNAM NURSING HOME ADMINISTRATOR 40.0 X 123490 0 8256 SUE COTTON SALES MANAGER 40.0 X 153159 0 10099 1468963 0 88134 7 false true false Clancy & Theys Construction Company 516 W Cabarrus St Raleigh NC 27603 Construction Contractor 18970970 Morrison Living PO Box 102289 Atlanta GA 30368 Food Services 2124728 Bridget Bohacz & Associates 1743 Dorsey Road Hanover MD 21076 Interior Design 1176847 Grreenbrier Development LLC 3232 McKinney Avenue Dallas TX 75204 Project Management 766827 K&L Gates LLP PO Box 830304 Philadelphia PA 19182 Legal Services 731619 21 105418 105418 Resident Fees 623990 19024099 19024099 Amortization of Entrance Fee 623990 2847592 2847592 Resident Meals 623990 1514193 1514193 Resident Services 623990 311027 311027 0 0 0 0 23696911 3199022 3199022 8100 8100 0 8100 8100 20440781 19613652 827129 0 827129 827129 0 0 0 0 0 0 27836580 23696911 0 4034251 1198155 1198155 825518 825518 5355393 5355393 68212 54570 13642 718732 574986 143746 514630 411704 102926 615858 615858 961234 961234 97575 97575 42286 42286 1848700 1478960 369740 0 541769 541769 1187935 950348 237587 286414 229131 57283 1221242 976994 244248 168326 134661 33665 36544 29235 7309 8895049 8895049 6292123 6292123 511622 511622 Food and Beverage 1134590 1134590 Other Costs 294079 235263 58816 0 0 0 0 32815986 28462784 4353202 0 809979 3051140 541330 271436 0 0 0 0 236526 291002 290346486 37269754 238688778 253076732 71279232 62489540 0 0 6306775 6032363 317862620 325212213 15063896 13566528 12265678 31874942 265148738 189777271 0 0 120171646 190356334 412649958 425575075 X -95268260 -100943202 480922 580340 -94787338 -100362862 317862620 325212213 -4979406 -596118 0 X false true true false X 39955 934323 74004 78881 105418 1232581 12449134 13248385 13691399 15072192 22182718 76643828 966575 978052 1032057 1041883 1514193 5532760 0 0 13455664 15160760 14797460 16192956 23802329 83409169 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 83409169 200248 150289 1152366 2355322 3207122 7065347 0 200248 150289 1152366 2355322 3207122 7065347 0 0 0 0 0 0 0 13655912 15311049 15949826 18548278 27009451 90474516 0.92191 0.94490 0.08 0.06 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 21257868 21257868 215200595 29806066 185394529 45275348 6270801 39004547 7400323 1024972 6375351 1212352 167915 1044437 253076732 Federal Income Taxes RESIDENT DEPOSITS SUBORDINATE OBLIGATIONS REFUNDABLE ADVANCE FEES RESIDENT DEPOSITS 2535325 SUBORDINATE OBLIGATIONS 16105475 REFUNDABLE ADVANCE FEES 171715534 190356334 X 27240462 -596118 0 -596118 27836580 0 0 27836580 32815986 0 0 32815986 0 0 32815986 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 2024 or 2023. true LUTHERAN SERVICES CAROLINAS PO BOX 947 Salisbury NC 28145 201457236 501(C)(3) 1198155 ASSISTANCE TO OTHER NOT FOR PROFITS THAT MEET OUR CHARITABLE PURPOSE 1 0 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 X false false false false false false false false false STANLEY G BRADING PRESIDENT 286072 0 0 0 0 0 0 0 2472 0 288544 0 0 0 W DERRICK MOORE FORMER EXECUTIVE DIRECTOR 248987 0 40000 0 0 0 6165 0 3043 0 298195 0 0 0 KENNETH L BULLOCK CFO 181573 0 25000 0 0 0 8910 0 16740 0 232223 0 0 0 ALLIE LIGAY DIRECTOR OF MARKETING 83134 0 129150 0 0 0 7412 0 2854 0 222550 0 0 0 SUE COTTON SALES MANAGER 50309 0 102850 0 0 0 6254 0 3845 0 163258 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 73875000 172635237 7598714 5037944 144378285 15620294 false false false true B 50000 8499510 8499510 true true true false C 1315000 77797207 135187 77797207 true false false true A false false true true false false 0.0 0.0 0.0 false false 0 false true B false false true true false false 0.0 0.0 0.0 false false 0 false true C false false true true false false 0.0 0.0 0.0 false false 0 false true A false true false false false false 0 false false true TD Bank 5.0 false false true B false true false false false false 0 false false false 0 false false true C false true false false false false 0 false false false 0 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 $ 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 XII, Line 2c THE PROCESS HAS NOT CHANGED SINCE THE PRIOR YEAR.