Montgomery Place

Tax-deductible

Chicago, IL501(c)(3)Since 1987EIN 36-3582046

The mission of montgomery place is to enhance the quality of life for senior adults by providing retirement housing and health services in a nurturing environment that supports each resident.

501(c)(3) charity; gifts are tax-deductible.
76¢ of each $1 spent went to programs.
Run by 10 volunteers and 119 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · 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 $2.0M a year · 11% of revenue · last 5 filings
Concern: a surplus in 0 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
76%
of spending
Looks good: 76% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$1.0M
to officers and key staff · 5% of spending
Looks good: pay to officers and key staff is 5% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.6 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $143
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$60.0M
224% of total assets
Concern: liabilities are 224% of assets; over 80%.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$20.0M
+4% vs prior year
Spent
$21.2M
To programs
76%
Net assets
−$33.3M
By yearFY2020–FY2024
Revenue
$20.0M
FY2024▲ +4%
Revenue by fiscal year
FY2020$19.1M
FY2021$16.1M
FY2022$17.9M
FY2023$19.4M
FY2024$19.2M
FY2024$20.0M
Expenses
$21.2M
FY2024-0.4%
Expenses by fiscal year
FY2020$19.2M
FY2021$19.9M
FY2022$20.7M
FY2023$20.6M
FY2024$21.3M
FY2024$21.2M
Net assets
−$33.3M
FY2024▼ -2%
Net assets by fiscal year
FY2020−$23.9M
FY2021−$27.6M
FY2022−$30.4M
FY2023−$31.1M
FY2024−$32.5M
FY2024−$33.3M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Dec 1988.

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

Where the money goes

76 cents of each dollar spent went to programs.

Program services 76% · $16.2M Management & general 24% · $5.0M

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

Who runs it and what they're paid

17 people listed on the 990; $1.0M paid to officers and key staff.

Part VII, Section A · reportable compensation
Chief Financial Officer
$256,472Pt VII · Sec A
Chief Operating Officer
$187,163Pt VII · Sec A
Former President & CEO
$179,620Pt VII · Sec A
Director of Nursing
$148,990Pt VII · Sec A
Nursing Adminstration
$137,049Pt VII · Sec A
$132,929Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

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

NameFY2024FY2024FY2023FY2022FY2021FY2020
Michael M McGarry$179,620$224,070$265,005$30,791——
Michael Clark$256,472$183,425$172,402$161,916$127,790—
Deborah Hart———$239,623$244,435$245,184
Ann Mikso$187,163$157,412$130,502———
Paul Zappoli—$82,501$169,172$165,556$160,020$122,933
Melody Chase$148,990—————
Stefanie Dziedzic———$106,843$146,342—
Leatrice Rogers$137,049—————

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.

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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 15aYes

Programs and updates

Provides senior housing and health services to improve quality of life.

Provided by the organization

This section is blank until Montgomery Place claims this page.

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3 program services account for $16.2M of program spending, described in the organization's own filed words · FY2024.
01

Montgomery place is a life plan continuing care retirement community. Residents are offered multiple options in independent living apartment selection (views and prices), varying meal plans, resident-driven daily activities and outings. Apartments include full kitchens and appliances, including in-unit WASHER/DRYERS.

$8.5Mprogram expense
02

The montgomery place CCRC campus includes a 40-BED, medicare-certified skilled nursing facility that offers short-term rehabilitation, long-term care with memory care options. It is rated a 5-STAR facility by the centers for medicare and medicaid services (CMS) and recognized as one of the top performing facilities in the nation.

$4.3Mprogram expense
03

Life care at home, LLC is a private-duty home care and home nursing agency providing services to private-pay, fee-for-service clients in their homes in the chicago area. It is a non-taxable LLC, managed by its sole member montgomery place. Flexibly designed service plans meet the individual needs and preferences of clients.

$3.4Mprogram expense

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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 · FY2023
Total grants receivedfrom 2 funders$143

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$20.0M
Ln 12
Fees for servicesLn 2g$19.5M
Investment incomeLn 3$333K
Gifts and grantsLn 1h$116K
Money outPt IX
$21.2M
Ln 25
Programscol B$16.2M
Managementcol C$5.0M
Owns and owesPt X
−$33.3M
net assets · Ln 32
Cash and savingsLn 1–2$1.1M
Total assetsLn 16$26.8M
LiabilitiesLn 26$60.0M
PeoplePt VI, VII
17
listed · VII A
PaidVII A6
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$116K
Fees for servicesLn 2g$19.5M
Investment incomeLn 3$333K
Other incomeLn 4–11$73K
Gains on assetsLn 7$102K
Total revenueLn 12$20.0M
Assets in detailPt X, end of year
CashLn 1$1.1M
Cash and savings togetherLn 1–2$1.1M
InvestmentsLn 11–13$8.6M
Land, buildings, equipmentLn 10c$15.5M
Other assetsLn 15$253K
Total assetsLn 16$26.8M
LiabilitiesLn 26$60.0M
Net assetsLn 32−$33.3M
OperationsPt I, VI
EmployeesI 5119
VolunteersI 610
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$830K$1.1M
InvestmentsLn 11–13$9.5M$8.6M
Land, buildings, equipmentLn 10c$16.7M$15.5M
Total assetsLn 16$29.4M$26.8M
LiabilitiesLn 26$61.9M$60.0M
Net assetsLn 32−$32.5M−$33.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$471K$471K
Other salaries and wagesLn 7$7.4M$6.0M$1.4M
Pension plan contributionsLn 8$47K$19K$28K
Other employee benefitsLn 9$577K$534K$43K
Payroll taxesLn 10$829K$536K$294K
Legal feesLn 11b$227K$227K
Accounting feesLn 11c$101K$101K
Investment management feesLn 11f$26K$26K
Other fees for servicesLn 11g$3.0M$2.4M$607K$0
Advertising and promotionLn 12$659K$659K
Information technologyLn 14$302K$269K$33K
OccupancyLn 16$445K$405K$41K
InterestLn 20$1.5M$1.3M$149K
Depreciation, depletion and amortizationLn 22$1.7M$1.5M$159K
InsuranceLn 23$615K$542K$74K
Other expenses (24a–d)Ln 24$3.3M$2.7M$659K
All other expensesLn 24e$0$0$0$0
Total functional expensesLn 25$21.2M$16.2M$5.0M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $19.2M$21.3M−$2.0M−$32.5M 990 PDF
FY2023 $19.4M$20.6M−$1.2M−$31.1M 990 PDF
FY2022 $17.9M$20.7M−$2.8M−$30.4M 990 PDF
FY2021 $16.1M$19.9M−$3.8M−$27.6M 990 PDF
FY2020 $19.1M$19.2M−$75K−$23.9M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (4 parts)
Part VIII · Statement of revenue $19,975,781 across 8 lines filed
Lines not itemized here account for −$194,128 of total revenue; see the IRS return.
VIII-1f All other contributions, gifts and grants$115,665
VIII-1h Total contributions, gifts and grants$115,665
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $19,454,556$19,454,556
VIII-3 Investment incomeExcluded from tax $230,545$230,545
VIII-6 Net rental income or lossExcluded from tax $9,494$9,494
VIII-7 Net gain or loss on sales of assetsExcluded from tax $102,136$102,136
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Unrelated business $192,659 · Excluded from tax $64,854$257,513
VIII-12 Total revenueRelated to mission $19,454,556 · Unrelated business $192,659 · Excluded from tax $212,901$19,975,781
Part IX · Statement of functional expenses $21,174,624 across 17 lines filed
IX-5 Pay of current officers, directors and key staffManagement $471,340$471,340
IX-7 Other salaries and wagesPrograms $6,001,867 · Management $1,409,019$7,410,886
IX-8 Pension plan contributionsPrograms $18,820 · Management $28,360$47,180
IX-9 Other employee benefitsPrograms $533,540 · Management $43,026$576,566
IX-10 Payroll taxesPrograms $535,531 · Management $293,551$829,082
IX-11b Legal feesManagement $227,175$227,175
IX-11c Accounting feesManagement $100,650$100,650
IX-11f Investment management feesManagement $26,249$26,249
IX-11g Other fees for servicesPrograms $2,383,636 · Management $607,332 · Fundraising $0$2,990,968
IX-12 Advertising and promotionManagement $658,853$658,853
IX-14 Information technologyPrograms $269,305 · Management $32,517$301,822
IX-16 OccupancyPrograms $404,756 · Management $40,737$445,493
IX-20 InterestPrograms $1,345,091 · Management $149,455$1,494,546
IX-22 Depreciation, depletion and amortizationPrograms $1,505,160 · Management $159,135$1,664,295
IX-23 InsurancePrograms $541,574 · Management $73,695$615,269
IX-24 Other expenses (24a–d)Programs $2,655,160 · Management $659,090$3,314,250
IX-24e All other expensesPrograms $0 · Management $0 · Fundraising $0$0
IX-25 Total functional expensesPrograms $16,194,440 · Management $4,980,184 · Fundraising $0$21,174,624
Part X · Balance sheet $26,753,201 assets, 17 lines filed
X-1 Cash, non-interest-bearingStart of year $830,121$1,110,399
X-4 Accounts receivableStart of year $987,500$1,071,633
X-9 Prepaid expenses and deferred chargesStart of year $161,376$244,541
X-10c Land, buildings and equipment, netStart of year $16,664,849$15,481,589
X-11 Publicly traded securitiesStart of year $7,138,244$6,028,991
X-12 Other securitiesStart of year $106,402$147,115
X-13 Program-related investmentsStart of year $2,292,850$2,416,396
X-15 Other assetsStart of year $1,264,667$252,537
X-16 Total assetsStart of year $29,446,009$26,753,201
X-17 Accounts payable and accrued expensesStart of year $2,303,104$1,848,574
X-19 Deferred revenueStart of year $1,633,295$2,144,112
X-20 Tax-exempt bond liabilitiesStart of year $26,814,645$26,264,653
X-25 Other liabilitiesStart of year $31,195,864$29,790,515
X-26 Total liabilitiesStart of year $61,946,908$60,047,854
X-27 Net assets without donor restrictionsStart of year −$32,500,899−$33,294,653
X-32 Total net assets or fund balancesStart of year −$32,500,899−$33,294,653
X-33 Total liabilities and net assetsStart of year $29,446,009$26,753,201
Part XI · Reconciliation of net assets −$33,294,653 net assets at year end
XI-1 Total revenue$19,975,781
XI-2 Total expenses$21,174,624
XI-3 Revenue less expenses−$1,198,843
XI-4 Net assets at start of year−$32,500,899
XI-5 Net unrealized gains (losses) on investments$405,089
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$33,294,653

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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