Craigside Retirement Residence FY2020 filing

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15 Craigside provides senior living excellence in a gracious, compassionate and dynamic environment. The primary purpose is to further the health and general welfare of the elderly by providing housing, healthcare, and financial security with a superior continuum of assured lifetime care to meet the spiritual, physical and social needs of every resident.

501(c)(3) charity; gifts are tax-deductible.
78¢ of each $1 spent went to programs.
$585K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
0 of 5
filings with a surplus
Average deficit $1.6M a year · 7% of revenue · last 5 filings
Concern: a surplus in 0 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
78%
of spending
Looks good: 78% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$585K
to officers and key staff · 2% of spending
Looks good: pay to officers and key staff is 2% of spending; 15% or less.
Pt VII · Sec A
2 mo
of spending, in cash
Plus $4.2M in investments, Pt X · Ln 11–13
Fine: 1.7 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $480K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$113.0M
182% of total assets
Concern: liabilities are 182% of assets; over 80%.
Pt X · Ln 26
Independent board members
8
of 10 voting members
Looks good: 8 of 10 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$23.1M
Spent
$23.9M
To programs
78%
Net assets
−$50.9M
By yearFY2020–FY2024
Revenue
$23.1M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$23.1M
FY2021$22.0M
FY2022$23.5M
FY2023$24.0M
FY2024$27.5M
Expenses
$23.9M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$23.9M
FY2021$24.5M
FY2022$25.1M
FY2023$26.3M
FY2024$28.5M
Net assets
−$50.9M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020−$50.9M
FY2021−$51.9M
FY2022−$48.7M
FY2023−$51.0M
FY2024−$50.9M

From the FY2020 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Oct 2007.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

78 cents of each dollar spent went to programs.

Program services 78% · $18.7M Management & general 22% · $5.1M

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

16 people listed on the 990; $585K paid to officers and key staff.

Part VII, Section A · reportable compensation
Registered Nurse
$144,893Pt VII · Sec A
Certified Mds Coordinator
$112,836Pt VII · Sec A
Director of Nursing
$111,737Pt VII · Sec A
Clinic Manager
$109,322Pt VII · Sec A
Healthcare Administrator
$105,938Pt VII · Sec A
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

May Rieta’s $180K as Registered Nurse is at the 34th percentile of top reported officer pay among 3122 $10–100M human services nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
May Rieta$180,109$186,113$176,765$130,426$144,893
Keleka Ho'okano—$143,755$123,172——
Jo Ann Erice$131,599$141,425$140,307——
Angelica Rances$141,080————
Zandra Padayao$137,054————
Rosalie D'Sanson$132,841$132,289—$116,651$111,737
Elaine Velasco—$132,300———
Maria Carina Fernandez——$124,374$102,511—

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Craigside Retirement Residence executive salaries →

Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Offers seniors housing, healthcare, and financial security for a superior, assured lifetime of care.

Questions for Craigside Retirement Residence

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3 programs · $18.7M · in their own filed words · FY2020
01

Monthly Service Charge

Craigside provides room, board and other services for 180 residents. The average monthly fee charged to each resident is $4,242 in 2020. Craigside pays for all EXPENSES.ENTRANCE fee amortization - new residents pay for a lifetime interest in their apartment.

$9.3Mprogram expense
02

Medical Center

Craigside has a licensed skilled nursing, intermediate care and special care facility with 41 nursing facility beds available for use by residents. All 41 beds are medicare certified. The average census was 38 in 2020 with a per diem rate of $390 for semi-private rooms for long-term residents in 2020.

$7.1Mprogram expense
03

Assisted Living Services

Program to provide help to residents who are not clinically restricted to beds and are not physically or mentally able to live independently. Residents enrolled can have an independent lifestyle with help provided by craigside. This can include services from medication management to assistance with many of the activities of daily living.

$2.3Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
Total grants receivedfrom 1 funder$480K

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$23.1M
Ln 12
Fees for servicesLn 2g$22.0M
Gifts and grantsLn 1h$863K
Investment incomeLn 3$135K
Money outPt IX
$23.9M
Ln 25
Programscol B$18.7M
Managementcol C$5.1M
Owns and owesPt X
−$50.9M
net assets · Ln 32
Cash and savingsLn 1–2$3.3M
Total assetsLn 16$62.1M
LiabilitiesLn 26$113.0M
PeoplePt VI, VII
16
listed · VII A
PaidVII A5
Voting boardVI 1a10
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$863K
Government grantsLn 1e$796K
Noncash giftsLn 1g$2K
Fees for servicesLn 2g$22.0M
Investment incomeLn 3$135K
Other incomeLn 4–11$65K
Gains on assetsLn 7−$2K
Total revenueLn 12$23.1M
Assets in detailPt X, end of year
CashLn 1$3.3M
Cash and savings togetherLn 1–2$3.3M
InvestmentsLn 11–13$4.2M
Land, buildings, equipmentLn 10c$51.6M
Other assetsLn 15$792K
Total assetsLn 16$62.1M
LiabilitiesLn 26$113.0M
Net assetsLn 32−$50.9M
OperationsPt I, VI
EmployeesI 50
VolunteersI 68
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3More from this return
BondsSch K, Pt X
Tax-exempt bond debt owedX 20$54.4M
Bond issues listedSch K Pt I1
Raised by those issuesSch K Pt I$54.4M
4Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$3.7M$3.3M
InvestmentsLn 11–13$3.6M$4.2M
Land, buildings, equipmentLn 10c$53.3M$51.6M
Total assetsLn 16$63.9M$62.1M
LiabilitiesLn 26$111.5M$113.0M
Net assetsLn 32−$47.6M−$50.9M
5Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$9.4M$9.0M$336K
Pension plan contributionsLn 8$622K$601K$21K
Other employee benefitsLn 9$1.3M$1.2M$59K
Payroll taxesLn 10$665K$642K$23K
Management feesLn 11a$912K$461K$451K
Legal feesLn 11b$17K$17K
Accounting feesLn 11c$13K$13K
Other fees for servicesLn 11g$386K$368K$18K
Advertising and promotionLn 12$243K$243K
Office expensesLn 13$1.0M$674K$362K
Information technologyLn 14$169K$86K$83K
OccupancyLn 16$923K$899K$24K
Conferences, conventions and meetingsLn 19$8K$8K$50
InterestLn 20$2.7M$2.7M
Depreciation, depletion and amortizationLn 22$2.2M$2.2M
InsuranceLn 23$171K$59K$112K
Other expenses (24a–d)Ln 24$2.6M$1.9M$734K
All other expensesLn 24e$569K$393K$176K
Total functional expensesLn 25$23.9M$18.7M$5.1M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 LatestFiled with the IRS Oct 1, 2025 $27.5M$28.5M−$939K−$50.9M 990 PDF
FY2023Filed with the IRS Nov 12, 2024 $24.0M$26.3M−$2.3M−$51.0M 990 PDF
FY2022Filed with the IRS Nov 14, 2023 $23.5M$25.1M−$1.6M−$48.7M 990 PDF
FY2021Filed with the IRS Nov 15, 2022 $22.0M$24.5M−$2.5M−$51.9M 990 PDF
FY2020 ViewingFiled with the IRS Oct 22, 2021 $23.1M$23.9M−$812K−$50.9M 990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $23,066,258 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $64,749$862,911
I-9 Program service revenuePrior year $21,346,707$22,003,298
I-10 Investment incomePrior year $127,072$135,332
I-11 Other revenuePrior year $68,160$64,717
I-12 Total revenuePrior year $21,606,688$23,066,258
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $10,691,689$11,916,891
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $13,036,322$11,961,018
I-18 Total expensesPrior year $23,728,011$23,877,909
I-19 Revenue less expensesPrior year −$2,121,323−$811,651
Part VI · Governance 8 of 10 board members independent, 1 to look at
VI-1a Voting members of the governing body10
VI-1b Independent voting members8
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $23,066,258 across 9 lines filed
Lines not itemized here account for $219 of total revenue; see the IRS return.
VIII-1e Government grants$795,981
VIII-1f All other contributions, gifts and grants$66,930
VIII-1g Noncash contributions (included above)$2,363
VIII-1h Total contributions, gifts and grants$862,911
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $22,003,298$22,003,298
VIII-3 Investment incomeExcluded from tax $137,036$137,036
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$1,704−$1,704
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $64,498$64,498
VIII-12 Total revenueRelated to mission $22,067,796 · Unrelated business $0 · Excluded from tax $135,551$23,066,258
Part IX · Statement of functional expenses $23,877,909 across 18 lines filed
IX-7 Other salaries and wagesPrograms $9,034,579 · Management $335,788$9,370,367
IX-8 Pension plan contributionsPrograms $600,822 · Management $20,696$621,518
IX-9 Other employee benefitsPrograms $1,200,530 · Management $59,296$1,259,826
IX-10 Payroll taxesPrograms $642,470 · Management $22,710$665,180
IX-11a Management feesPrograms $461,222 · Management $450,885$912,107
IX-11b Legal feesManagement $17,148$17,148
IX-11c Accounting feesManagement $12,795$12,795
IX-11g Other fees for servicesPrograms $368,204 · Management $17,914$386,118
IX-12 Advertising and promotionPrograms $242,672$242,672
IX-13 Office expensesPrograms $674,278 · Management $362,044$1,036,322
IX-14 Information technologyPrograms $86,138 · Management $82,553$168,691
IX-16 OccupancyPrograms $898,747 · Management $24,000$922,747
IX-19 Conferences, conventions and meetingsPrograms $7,585 · Management $50$7,635
IX-20 InterestManagement $2,714,416$2,714,416
IX-22 Depreciation, depletion and amortizationPrograms $2,186,297$2,186,297
IX-23 InsurancePrograms $58,857 · Management $111,732$170,589
IX-24 Other expenses (24a–d)Programs $1,881,171 · Management $733,549$2,614,720
IX-24e All other expensesPrograms $393,060 · Management $175,701$568,761
IX-25 Total functional expensesPrograms $18,736,632 · Management $5,141,277 · Fundraising $0$23,877,909
Part X · Balance sheet $62,090,714 assets, 17 lines filed
X-1 Cash, non-interest-bearingStart of year $3,722,999$3,284,450
X-4 Accounts receivableStart of year $2,276,831$1,804,395
X-8 Inventories for sale or useStart of year $136,737$322,631
X-9 Prepaid expenses and deferred chargesStart of year $47,719$44,798
X-10c Land, buildings and equipment, netStart of year $53,271,535$51,633,395
X-11 Publicly traded securitiesStart of year $2,346,313$2,769,380
X-12 Other securitiesStart of year $1,228,777$1,439,644
X-15 Other assetsStart of year $858,594$792,021
X-16 Total assetsStart of year $63,889,505$62,090,714
X-17 Accounts payable and accrued expensesStart of year $3,944,299$6,692,346
X-19 Deferred revenueStart of year $30,251,337$26,490,106
X-20 Tax-exempt bond liabilitiesStart of year $54,376,599$54,376,599
X-25 Other liabilitiesStart of year $19,022,992$21,485,789
X-26 Total liabilitiesStart of year $111,530,474$112,980,087
X-27 Net assets without donor restrictionsStart of year −$47,640,969−$50,889,373
X-32 Total net assets or fund balancesStart of year −$47,640,969−$50,889,373
X-33 Total liabilities and net assetsStart of year $63,889,505$62,090,714
Part XI · Reconciliation of net assets −$50,889,373 net assets at year end
XI-1 Total revenue$23,066,258
XI-2 Total expenses$23,877,909
XI-3 Revenue less expenses−$811,651
XI-4 Net assets at start of year−$47,640,969
XI-5 Net unrealized gains (losses) on investments$500,145
XI-9 Other changes in net assets−$2,936,898
XI-10 Net assets at end of year−$50,889,373

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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