CYPRESS OF CHARLOTTE CLUB INC: Form 990, tax year 2015
View the entire original 990 at ProPublica ↗
- Organization
- CYPRESS OF CHARLOTTE CLUB INC (EIN 56-2103741)
- Tax period
- 2015-01-01 to 2015-12-31
- Filed
- 2016-11-15
- IRS object ID
- 201643209349312524
- Schema version
- 2015v2.1
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2016-11-15T15:22:23-06:00 | ReturnTs |
| Tax Period End | 2015-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 420714325 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RSM US LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 230 N ELM ST STE 1100 | AddressLine1Txt |
| City | GREENSBORO | CityNm |
| State Abbreviation | NC | StateAbbreviationCd |
| ZIP | 27401 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2015-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 562103741 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | THE CYPRESS OF CHARLOTTE CLUB INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | CYPR | BusinessNameControlTxt |
| Phone | 7047145500 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 3442 CYPRESS CLUB DR | AddressLine1Txt |
| City | CHARLOTTE | CityNm |
| State Abbreviation | NC | StateAbbreviationCd |
| ZIP | 28210 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | SARAH ELLIOTT-BURTON | PersonNm |
| Person Title | DIRECTOR OF FINANCE | PersonTitleTxt |
| Phone | 7047145500 | PhoneNum |
| Signature | 2016-11-15 | SignatureDt |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | ADRIENNE MCKINNEY | PreparerPersonNm |
| PTIN | P00819656 | PTIN |
| Phone | 3362724551 | PhoneNum |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2015 | TaxYr |
| Build TS | 2017-02-10 21:41:12Z | BuildTS |
Form 990 IRS990
Doing Business As Name DoingBusinessAsName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | THE CYPRESS OF CHARLOTTE | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | JAMES COLEMAN | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 3442 CYPRESS CLUB DR | AddressLine1Txt |
| City | CHARLOTTE | CityNm |
| State Abbreviation | NC | StateAbbreviationCd |
| ZIP | 28210 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $15,874,386 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.THECYPRESS.COM | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1998 | FormationYr |
| Legal Domicile State | NC | LegalDomicileStateCd |
| Activity Or Mission | THE CYPRESS OF CHARLOTTE CLUB, INC. WAS ESTABLISHED AS A NON-PROPIETARY, NON-SHAREHOLDER, NOT-FOR-PROFIT MUTUAL BENEFIT CORPORATION UNDER THE LAWS OF NC, EXCLUSIVELY TO MAINTAIN HOUSING FOR THE ELDERLY, TO DIRECTLY PROVIDE HEALTHCARE FOR THE PHYSICAL AND MENTAL WELL-BEING OF ITS RESIDENTS, TO PROVIDE FINANCIAL SECURITY FOR ITS RESIDENTS WITH POLICIES PERMITTING RESIDENTS TO REMAIN AT THE CYPRESS EVEN THOUGH THEY MAY RUN OUT OF FUNDS, AND TO OPERATE THE FACILITY AT ITS LOWEST FEASIBLE AND ACCEPTABLE COST. | ActivityOrMissionDesc |
| Voting Members Governing Body | 5 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 3 | VotingMembersIndependentCnt |
| Total Employee | 0 | TotalEmployeeCnt |
| Total Volunteers | 120 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $14,082,628 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $15,615,495 | CYProgramServiceRevenueAmt |
| PY Investment Income | $19,700 | PYInvestmentIncomeAmt |
| CY Investment Income | $8,167 | CYInvestmentIncomeAmt |
| PY Other Revenue | $0 | PYOtherRevenueAmt |
| CY Other Revenue | $0 | CYOtherRevenueAmt |
| PY Total Revenue | $14,102,328 | PYTotalRevenueAmt |
| CY Total Revenue | $15,623,662 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $8,938,098 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $9,753,850 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $6,248,141 | PYOtherExpensesAmt |
| CY Other Expenses | $6,193,863 | CYOtherExpensesAmt |
| PY Total Expenses | $15,186,239 | PYTotalExpensesAmt |
| CY Total Expenses | $15,947,713 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | -$1,083,911 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | -$324,051 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $4,815,623 | TotalAssetsBOYAmt |
| Total Assets EOY | $4,602,069 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $3,710,526 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $3,824,457 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $1,105,097 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $777,612 | NetAssetsOrFundBalancesEOYAmt |
| Mission | THE CYPRESS OF CHARLOTTE, CHARLOTTE'S PREMIER CONTINUING CARE RETIREMENT COMMUNITY, IS COMMITTED TO ENHANCING THE LIVES OF OUR MEMBERS BY PROVIDING EXCEPTIONAL SERVICE AND PEACE OF MIND IN AN UPSCALE ENVIRONMENT. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $12,820,550 | ExpenseAmt |
| Grant | $0 | GrantAmt |
| Revenue | $15,615,495 | RevenueAmt |
| Desc | THE CYPRESS OF CHARLOTTE CLUB PROVIDES SERVICES TO ELDERLY RESIDENTS LIVING IN 310 PRIVATELY OWNED RESIDENTIAL UNITS. RESIDENTS RECEIVED ASSISTED LIVING, INCLUDING HEALTHCARE, FOR PHYSICAL AND MENTAL WELL BEING. | Desc |
| Total Program Service Expenses | $12,820,550 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | 0 | DescribedInSection501c3Ind |
| Schedule B Required | 0 | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Temp Or Permanent Endowments | 0 | TempOrPermanentEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | Yes (1) | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (1) | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | 0 | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | 0 | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | 0 | PYExcessBenefitTransInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With Officer Ent | Yes (1) | BusinessRlnWithOfficerEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 0 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Employee | 0 | EmployeeCnt |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 5 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 3 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | Yes (1) | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (1) | MembersOrStockholdersInd |
| Election Of Board Members | 0 | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | 0 | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | 0 | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | 0 | CompensationProcessCEOInd |
| Compensation Process Other | 0 | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SARAH ELLIOTT-BURTON | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 7047145500 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 3442 CYPRESS CLUB DR | AddressLine1Txt |
| City | CHARLOTTE | CityNm |
| State Abbreviation | NC | StateAbbreviationCd |
| ZIP | 28210 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part VII | Yes (X) | InfoInScheduleOPartVIIInd |
Form990 Part VII Section A Form990PartVIISectionAGrp (6 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|
| JAMES P COLEMAN | |||||||
| PRESIDENT | 5.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| STEVEN KERLEY | |||||||
| SEC/TREAS/EXEC DIR | 40.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| MICHELLE FISH | |||||||
| DIRECTOR | 0.30 | Yes (X) | $0 | $0 | $0 | ||
| MICHAEL J HARRISON | |||||||
| DIRECTOR | 0.30 | Yes (X) | $0 | $0 | $0 | ||
| DR ROBERT HIGGINS | |||||||
| DIRECTOR | 0.30 | Yes (X) | $0 | $0 | $0 | ||
| SONDRA C KEY | |||||||
| SALES DIRECTOR | 40.00 | $132,331 | $0 | $9,329 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $132,331 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $9,329 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 1 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | 0 | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| THE CYPRESS OF CHARLOTTE LLC | |||||
| 20 LADY SLIPPER LANE | HILTON HEAD ISLAND | SC | 29926 | CONTRACTUAL OVERHEAD-SEE STMT O | $1,061,478 |
| LIFE CARE COMPANIES LLC | |||||
| CAPITAL SQUARE | DES MOINES | IA | 503092334 | MANAGEMENT SERVICES | $788,845 |
| GEORGIA CARPET WAREHOUSE | |||||
| 8514 MONROE ROAD | CHARLOTTE | NC | 28212 | RENOVATION SERVICES | $428,669 |
| LANDMARK LANDSCAPE INC | |||||
| 7319 IVY HILL LANE | WAXHAW | NC | 28173 | LANDSCAPING SERVICES | $384,082 |
| HERITAGE HEALTHCARE | |||||
| 536 OLD HOWELL ROAD | GREENVILLE | SC | 29615 | REHABILITATION SERVICES | $379,360 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 8 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp (4 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| MEMBER DUES | 623000 | $7,363,315 | $7,363,315 |
| HOME HEALTH SERVICE | 621610 | $4,010,933 | $4,010,933 |
| HEALTH SERVICE | 623000 | $3,711,607 | $3,711,607 |
| OTHER MEMBER FEES | 623000 | $529,640 | $529,640 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $15,615,495 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $11,891 | TotalRevenueColumnAmt |
| Exclusion | $11,891 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $247,000 | SecuritiesAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $250,724 | SecuritiesAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | -$3,724 | SecuritiesAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -$3,724 | TotalRevenueColumnAmt |
| Exclusion | -$3,724 | ExclusionAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $15,623,662 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $15,615,495 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $8,167 | ExclusionAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $8,056,557 | TotalAmt |
| Program Services | $7,529,385 | ProgramServicesAmt |
| Management And General | $527,172 | ManagementAndGeneralAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $30,531 | TotalAmt |
| Program Services | $58,932 | ProgramServicesAmt |
| Management And General | -$28,401 | ManagementAndGeneralAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $840,634 | TotalAmt |
| Program Services | $745,689 | ProgramServicesAmt |
| Management And General | $94,945 | ManagementAndGeneralAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $826,128 | TotalAmt |
| Program Services | $796,696 | ProgramServicesAmt |
| Management And General | $29,432 | ManagementAndGeneralAmt |
Fees For Services Management FeesForServicesManagementGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,564,511 | TotalAmt |
| Management And General | $1,564,511 | ManagementAndGeneralAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $13,213 | TotalAmt |
| Management And General | $13,213 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $81,415 | TotalAmt |
| Management And General | $81,415 | ManagementAndGeneralAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $11,716 | TotalAmt |
| Management And General | $11,716 | ManagementAndGeneralAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $134,377 | TotalAmt |
| Program Services | $71,862 | ProgramServicesAmt |
| Management And General | $62,515 | ManagementAndGeneralAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $8,410 | TotalAmt |
| Management And General | $8,410 | ManagementAndGeneralAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,940 | TotalAmt |
| Management And General | $2,940 | ManagementAndGeneralAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $689,553 | TotalAmt |
| Program Services | $582,393 | ProgramServicesAmt |
| Management And General | $107,160 | ManagementAndGeneralAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $94,339 | TotalAmt |
| Program Services | $55,917 | ProgramServicesAmt |
| Management And General | $38,422 | ManagementAndGeneralAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $185,601 | TotalAmt |
| Program Services | $185,601 | ProgramServicesAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $239,329 | TotalAmt |
| Management And General | $239,329 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt |
|---|---|---|---|
| FOOD COST | $1,576,391 | $1,576,391 | $0 |
| MEDICAL EXPENSES | $663,080 | $663,080 | |
| SUPPLIES | $358,652 | $347,206 | $11,446 |
| ACTIVITIES | $140,105 | $140,105 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $430,231 | TotalAmt |
| Program Services | $67,293 | ProgramServicesAmt |
| Management And General | $362,938 | ManagementAndGeneralAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $15,947,713 | TotalAmt |
| Program Services | $12,820,550 | ProgramServicesAmt |
| Management And General | $3,127,163 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $500 | BOYAmt |
| EOY | $300 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $331,455 | BOYAmt |
| EOY | $78,587 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,122,573 | BOYAmt |
| EOY | $1,230,655 | EOYAmt |
Inventories For Sale Or Use InventoriesForSaleOrUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $75,130 | BOYAmt |
| EOY | $79,144 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $308,731 | BOYAmt |
| EOY | $261,634 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $2,613,367 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $2,004,857 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $617,143 | BOYAmt |
| EOY | $608,510 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $250,788 | BOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,109,303 | BOYAmt |
| EOY | $2,343,239 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,815,623 | BOYAmt |
| EOY | $4,602,069 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,726,604 | BOYAmt |
| EOY | $1,943,746 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $31,426 | BOYAmt |
| EOY | $14,151 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,952,496 | BOYAmt |
| EOY | $1,866,560 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,710,526 | BOYAmt |
| EOY | $3,824,457 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows SFAS117 | Yes (X) | OrganizationFollowsSFAS117Ind |
Unrestricted Net Assets UnrestrictedNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,105,097 | BOYAmt |
| EOY | $777,612 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,105,097 | BOYAmt |
| EOY | $777,612 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,815,623 | BOYAmt |
| EOY | $4,602,069 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | -$324,051 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | -$3,434 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $0 | OtherChangesInNetAssetsAmt |
| Info In Schedule O Part XII | Yes (X) | InfoInScheduleOPartXIIInd |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Consol And Sep Basis Fincl Stmt | Yes (X) | ConsolAndSepBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule D IRS990ScheduleD
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $2,613,367 | OtherCostOrOtherBasisAmt |
| Depreciation | $2,004,857 | DepreciationAmt |
| Book Value | $608,510 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $608,510 | TotalBookValueLandBuildingsAmt |
Other Securities OtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | INSURANCE RESERVES - MONEY MKT | Desc |
| Book Value | $2,343,239 | BookValueAmt |
| Method Valuation | F | MethodValuationCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Securities | $2,343,239 | TotalBookValueSecuritiesAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (2 entries)
| DescDesc | AmtAmt |
|---|---|
| DUE TO AFFILIATES | $1,854,844 |
| DUE TO HOMEOWNERS | $11,716 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $1,866,560 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $15,620,228 | TotalRevEtcAuditedFinclStmtAmt |
| Net Unrealized Gains Invst | -$3,434 | NetUnrealizedGainsInvstAmt |
| Revenue Not Reported | -$3,434 | RevenueNotReportedAmt |
| Revenue Subtotal | $15,623,662 | RevenueSubtotalAmt |
| Revenue Not Reported Fincl Stmt | $0 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $15,623,662 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $15,947,713 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $15,947,713 | ExpensesSubtotalAmt |
| Expenses Not Rpt Fincl Stmt | $0 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $15,947,713 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART X, LINE 2: | FormAndLineReferenceDesc |
| Explanation | THE CLUB IS A NONPROFIT ORGANIZATION EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(4) OF THE INTERNAL REVENUE CODE. MANAGEMENT HAS EVALUATED THAT THE CLUB'S TAX POSITIONS AND CONCLUDED THAT THE CLUB HAS TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS. THE CLUB FILES AS A TAX-EXEMPT ORGANIZATION. BECAUSE MANAGEMENT HAS NOT IDENTIFIED UNRELATED BUSINESS INCOME IN PAST YEARS, THE CLUB HAS NOT FILED FORM 990-T, EXEMPT ORGANIZATION BUSINESS INCOME TAX RETURNS. MANAGEMENT IS NOT AWARE OF ANY ACTIVITIES THAT WOULD JEOPARDIZE THE TAX-EXEMPT STATUS OF THE CLUB. MANAGEMENT IS NOT AWARE OF ANY SIGNIFICANT ACTIVITIES THAT ARE SUBJECT TO TAX ON UNRELATED BUSINESS INCOME OR EXCISE OR OTHER TAXES FOR THE CLUB. | ExplanationTxt |
Schedule L IRS990ScheduleL
Bus Tr Involve Interested Prsn BusTrInvolveInterestedPrsnGrp
Name Of Interested NameOfInterested
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CYPRESS OF CHARLOTTE LLC JAMES COLEMAN BOARD PRESIDENT | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Relationship Description | BOARD PRES/LLC OWNER - JAMES COLEMAN INDIRECTLY OWNS 25% OF THE LLC | RelationshipDescriptionTxt |
| Transaction | $1,061,478 | TransactionAmt |
| Transaction | MGMT FEE/OVERHEAD FEETHE CYPRESS OF CHARLOTTE, LLC PLANNED, DESIGNED, AND BUILT THE CYPRESS OF CHARLOTTE COMMUNITY. THE BUSINESS MODEL ALLOWED THE COMMUNITY TO BE BUILT AND OPERATED WITHOUT DEBT BY ALLOWING FOR AN OVERHEAD PAYMENT EQUAL TO 10% OF THE OPERATING EXPENSES TO BE PAID TO THE LLC. THIS STRUCTURE ALLOWS THE CYPRESS OF CHARLOTTE CLUB MEMBER FEES TO BE LOWER THAN 95% OF COMPARABLE COMMUNITIES, WHILE AT THE SAME TIME PROVIDING A HIGHER LEVEL OF FINANCIAL SECURITY FOR THE MEMBERS OF THE COMMUNITY. THE AMOUNTS PAID TO THE CYPRESS OF CHARLOTTE, LLC ARE SET AS FIXED PERCENTAGES ESTABLISHED WHEN THE COMMUNITY WAS STARTED. THE SAME PAYMENTS WOULD BE MADE TO THE LLC REGARDLESS OF MR. COLEMAN'S PRESENCE ON THE BOARD, NOR ARE THEY TIED TO THE REVENUE OF THE CLUB. | TransactionDesc |
| Sharing Of Revenues | 0 | SharingOfRevenuesInd |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (11 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 3 | THE CYPRESS OF CHARLOTTE CLUB ("CLUB")HAS CONTRACTED WITH LIFE CARE SERVICES, LLC TO PROVIDE SERVICES, INCLUDING MANAGEMENT SERVICES AND EMPLOYEES, TO THE CLUB. THE CLUB HAS AN AGREEMENT WITH THE CYPRESS OF CHARLOTTE, LLC ("COMPANY") TO PROVIDE SUPERVISION AND OVERSIGHT OF THOSE CONTRACTED ACTIVITIES AND EMPLOYEES. THE BOARD IS STILL ULTIMATELY RESPONSIBLE FOR THE CLUB AND MAY TERMINATE THE MANAGEMENT AGREEMENT WITH THE COMPANY SHOULD THE COMPANY BE IN DEFAULT. |
| FORM 990, PART VI, SECTION A, LINE 6 | ONE CLASS OF MEMBERS |
| FORM 990, PART VI, SECTION B, LINE 11 | NO REVIEW WILL BE CONDUCTED |
| FORM 990, PART VI, SECTION B, LINE 12C | THE CLUB REGULARLY AND CONSISTENTLY MONITORS AND ENFORCES COMPLIANCY WITH THE POLICY THROUGH THEIR CORPORATE COMPLIANCE PROGRAM. |
| FORM 990, PART VI, SECTION C, LINE 19 | THESE DOCUMENTS ARE MADE AVAILABLE THROUGH THE ORGANIZATION'S ANNUAL DISCLOSURE STATEMENT, WHICH IS REQUIRED BY THE NC DEPARTMENT OF INSURANCE, WHICH REGULATES ALL CONTINUING CARE RETIREMENT COMMUNITIES IN THE STATE OF NORTH CAROLINA. ALL CYPRESS MEMBERS, ALL POTENTIAL CYPRESS MEMBERS, AND ANY OTHER INTERESTED PARTIES CAN RECEIVE A COPY OF THE DISCLOSURE STATEMENT UPON REQUEST. |
| FORM 990, PART VII, SECTION A, COLUMN F | THE ORGANIZATION, IN A FULL TRANSPARENCY POSTURE TO REPORTING, IS REPORTING ALL BENEFITS IN FULL IN COLUMN F, PART VII AND IS NOT APPLYING THE $10,000 PER ITEM EXCEPTION FOR CERTAIN BENEFITS. |
| FORM 990, PART XII, LINE 2C, AUDIT COMMITTEE:: | THE BOARD ITSELF SERVES AS THE COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF THE FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT AUDITOR. THE BOARD IS MADE UP, IN THE MAJORITY, OF INDEPENDENT DIRECTORS WITH NO OTHER AFFILIATION WITH ANY OF THE CYPRESS ENTITIES. THE AUDIT COMMITTEE'S PROCESS OF EVALUATION HAS NOT CHANGED SINCE PRIOR YEAR. |
| FORM 990, PART I, LINE 6: | WE HAVE MEMBERS (RESIDENTS) WHO ARE ELECTED TO SERVE ON ADVISORY COMMITTEES AND OTHER MEMBERS WHO VOLUNTEER THEIR TIME AT OUR NURSING FACILITY READING TO AND VISITING THE SICK. |
| FORM 990, PAGE 6, LINE 3 | STEVEN KERLEY'S COMPENSATION IS 122,347.81. |
| FORM 990, PART VI, LINES 15A & B: | THE PROCESS OF DETERMINING COMPENSATION FOR THE EXECUTIVE DIRECTOR AND HEALTHCARE ADMINISTRATION IS CONDUCTED BY THE ORGANIZATION'S MANAGEMENT COMPANY, LIFE CARE SERVICES, LLC OF DES MOINES, IOWA, SUBJECT TO THE APPROVAL OF THE BOARD. THE EXECUTIVE DIRECTOR AND HEALTHCARE ADMINISTRATOR ARE LIFE CARE SERVICES, LLC EMPLOYEES (I.E. THEY ARE NOT EMPLOYEES OF THE CYPRESS OF CHARLOTTE). |
| FORM 990, SCHEDULE R, PART III AND PART IV: | THE NORTH CAROLINA DEPARTMENT OF INSURANCE ISSUED THE LICENSE TO OPERATE A CONTINUING CARE RETIREMENT COMMUNITY COLLECTIVELY TO THE CYPRESS OF CHARLOTTE CLUB ("CLUB"), THE CYPRESS OF CHARLOTTE OWNERS' ASSOCIATION ("OA"), AND THE CYPRESS OF CHARLOTTE, LLC ("COMPANY"). THE DEPARTMENT OF INSURANCE REQUIRES THESE THREE LEGAL ENTITIES WORK TOGETHER TO FULFILL THE MISSION OF THE CYPRESS OF CHARLOTTE. THIS STRUCTURE ALLOWS THE COMPANY TO CONTRIBUTE REAL AND PERSONAL PROPERTY TO THE PROJECT WITHOUT DEBT TO EITHER THE CLUB OR THE OA, ALLOWING FOR MUCH GREATER FINANCIAL SECURITY AND LOWER MEMBER FEES THAN ANY COMPARABLE COMMUNITIES. IN RETURN, THE COMPANY RECOVERS ITS INVESTMENT THROUGH THE OVERHEAD FEES PAID BY THE COMMUNITY. THE TERMS OF AND DETAILS OF THE OVERHEAD PAYMENT ARE PROVIDED TO AND ACKNOWLEDGED BY MEMBERS WHEN THEY JOIN THE COMMUNITY. THIS MODEL ALIGNS THE INTERESTS OF THE CLUB, OA, COMPANY AND MEMBERS TO ENSURE THE COMMUNITY CONTINUES TO GROW AND THRIVE. THE SUCCESS OF THIS STRUCTURE CAN BE SEEN IN A 95% MEMBER SATISFACTION RATE AND SIGNIFICANT INCREASES IN THE VALUE OF THE RESIDENCES UPON RESALE. |
Schedule R IRS990ScheduleR
Id Related Org Txbl Partnership IdRelatedOrgTxblPartnershipGrp
Related Organization Name RelatedOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | THE CYPRESS OF CHARLOTTE LLC | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 3442 CYPRESS CLUB DR | AddressLine1Txt |
| City | CHARLOTTE | CityNm |
| State Abbreviation | NC | StateAbbreviationCd |
| ZIP | 28210 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Primary Activities | MGT SERVICES & CO-LICENSEE OF CYPRESS OF CHARLOTTE. | PrimaryActivitiesTxt |
| Legal Domicile State | NC | LegalDomicileStateCd |
| Disproportionate Allocations | 0 | DisproportionateAllocationsInd |
| General Or Managing Partner | 0 | GeneralOrManagingPartnerInd |
Id Related Org Txbl Corp Tr IdRelatedOrgTxblCorpTrGrp
Related Organization Name RelatedOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | THE CYPRESS OF CHARLOTTE OWNERS' ASSOCIATION | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 3442 CYPRESS CLUB DRIVE | AddressLine1Txt |
| City | CHARLOTTE | CityNm |
| State Abbreviation | NC | StateAbbreviationCd |
| ZIP | 28210 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 562205827 | EIN |
| Primary Activities | HOME OWNERS ASSOC AND CO-LICENSEE OF THE CYPRESS OF CHARLOTTE. | PrimaryActivitiesTxt |
| Legal Domicile State | NC | LegalDomicileStateCd |
| Entity Type | C | EntityTypeTxt |
| Controlled Organization | 0 | ControlledOrganizationInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | 0 | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | 0 | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | 0 | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | Yes (1) | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | 0 | DivRelatedOrganizationInd |
| Asset Sale To Other Org | 0 | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | 0 | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | 0 | AssetExchangeInd |
| Rental Of Facilities To Oth Org | 0 | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | 0 | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | Yes (1) | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | Yes (1) | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | Yes (1) | SharingOfFacilitiesInd |
| Paid Employees Sharing | Yes (1) | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | Yes (1) | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | 0 | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |
Transactions Related Org TransactionsRelatedOrgGrp (2 entries)
| Transaction TypeTransactionTypeTxt | InvolvedInvolvedAmt |
|---|---|
| THE CYPRESS OF CHARLOTTE LLC | |
| P | $1,061,478 |
| THE CYPRESS OF CHARLOTTE OWNERS' ASSOCIATION | |
| E | $1,854,844 |