Methodist Retirement Communities: Nonprofit Profile, Financials & Form 990 (EIN 38-4022302)

Revenue by fiscal year
FY2020	$83.5M
FY2021	$84.4M
FY2022	$93.6M
FY2023	$107.3M
FY2024	$114.6M

Expenses by fiscal year
FY2020	$96.5M
FY2021	$113.9M
FY2022	$110.0M
FY2023	$125.6M
FY2024	$128.1M

Net assets by fiscal year
FY2020	−$65.8M
FY2021	−$94.4M
FY2022	−$95.9M
FY2023	−$111.4M
FY2024	−$122.7M

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Nov 2016.

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

Where the money goes

80 cents of each dollar spent went to programs.

80%

20%

Program services 80% · $101.9M Management & general 20% · $26.2M

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

21 people listed on the 990.

Part VII, Section A · reportable compensation

Mrs Alyce Anne Baggett

Chair

$0Pt VII · Sec A

Rev Preston Morgan

Vice Chair

$0Pt VII · Sec A

Mrs Alicia Besser

Director

$0Pt VII · Sec A

Mr Jim Bunch

Director

$0Pt VII · Sec A

Mr Dale Conger

Director

$0Pt VII · Sec A

Rev Kip Gilts

Director

$0Pt VII · Sec A

Mr Wayne D Haglund

Director

$0Pt VII · Sec A

Mr Bill King

Director

$0Pt VII · Sec A

See Methodist Retirement Communities executive salaries →

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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 15aNo

Programs and updates

Provides assisted living and memory support services for seniors in multiple Texas communities.

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Provided by the organization

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3 programs · $100.4M · in their own filed words · FY2024

01

The organization provides independent living services for its residents at MRC cornerstone, MRC crestview, MRC pinecrest, happy harbor methodist home inc., MRC senior living at clearklake, MRC senior living corpus christi, bayview senior housing, MRC crestview place, MRC crestview terrace, crestview unity, and happy harbor senior…

$47.0Mprogram expense

02

The organization provides assisted living and memory support services for its residents at MRC towncreek, MRC cornerstone, MRC crestview, MRC pinecrest, happy harbor methodist home inc., MRC senior living at clearlake, and MRC senior living corpus christi.

$28.0Mprogram expense

03

The organization provides skilled nursing services for its residents at its CCRC locations at MRC towncreek, MRC cornerstone, MRC crestview, MRC pinecrest, happy harbor methodist home inc., and MRC senior living corpus christi.

$25.4Mprogram expense

By the numbers

The FY2024 990, line by line.

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from philanthropy.org

1The main four

Money inPt VIII

$114.6M

Ln 12

Fees for servicesLn 2g$107.3M

Investment incomeLn 3$3.3M

Other incomeLn 4–11$2.7M

Money outPt IX

$128.1M

Ln 25

Programscol B$101.9M

Managementcol C$26.2M

Owns and owesPt X

−$122.7M

net assets · Ln 32

Cash and savingsLn 1–2$38.0M

Total assetsLn 16$384.2M

LiabilitiesLn 26$506.9M

PeoplePt VI, VII

21

listed · VII A

PaidVII A0

Voting boardVI 1a14

IndependentVI 1b14

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$1.4M

Fees for servicesLn 2g$107.3M

Investment incomeLn 3$3.3M

Other incomeLn 4–11$2.7M

Gains on assetsLn 7−$11K

Total revenueLn 12$114.6M

Assets in detailPt X, end of year

CashLn 1$6.5M

SavingsLn 2$31.5M

Cash and savings togetherLn 1–2$38.0M

InvestmentsLn 11–13$36.4M

Land, buildings, equipmentLn 10c$277.2M

Other assetsLn 15$6.3M

Total assetsLn 16$384.2M

LiabilitiesLn 26$506.9M

Net assetsLn 32−$122.7M

OperationsPt I, VI

EmployeesI 51,447

VolunteersI 6474

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

Line	Start FY24	End FY24
Cash and savingsLn 1–2	$43.2M	$38.0M
InvestmentsLn 11–13	$37.5M	$36.4M
Land, buildings, equipmentLn 10c	$288.4M	$277.2M
Total assetsLn 16	$400.2M	$384.2M
LiabilitiesLn 26	$511.6M	$506.9M
Net assetsLn 32	−$111.4M	−$122.7M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Other salaries and wagesLn 7	$38.0M	$28.0M	$10.0M
Pension plan contributionsLn 8	$509K	$338K	$172K
Other employee benefitsLn 9	$3.5M	$2.3M	$1.2M
Payroll taxesLn 10	$2.8M	$1.9M	$959K
Management feesLn 11a	$5.2M		$5.2M
Legal feesLn 11b	$270K		$270K
Accounting feesLn 11c	$338K		$338K
Other fees for servicesLn 11g	$18.1M	$17.1M	$1.0M
Advertising and promotionLn 12	$1.6M		$1.6M
Office expensesLn 13	$2.6M	$1.5M	$1.0M
Information technologyLn 14	$1.5M	$93K	$1.5M
OccupancyLn 16	$8.1M	$7.8M	$387K
TravelLn 17	$281K	$33K	$248K
Conferences, conventions and meetingsLn 19	$23K	$1K	$21K
InterestLn 20	$14.7M	$14.2M	$513K
Depreciation, depletion and amortizationLn 22	$17.0M	$16.4M	$591K
InsuranceLn 23	$4.1M	$4.0M	$142K
Other expenses (24a–d)Ln 24	$8.5M	$8.0M	$445K
All other expensesLn 24e	$843K	$248K	$594K
Total functional expensesLn 25	$128.1M	$101.9M	$26.2M	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2024 Latest Viewing	$114.6M	$128.1M	−$13.5M	−$122.7M	990 PDF
FY2023	$107.3M	$125.6M	−$18.3M	−$111.4M	990 PDF
FY2022	$93.6M	$110.0M	−$16.4M	−$95.9M	990 PDF
FY2021	$84.4M	$113.9M	−$29.5M	−$94.4M	990 PDF
FY2020	$83.5M	$96.5M	−$13.0M	−$65.8M	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 (6 parts)

Part I · Summary $114,567,701 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $2,060,437$1,354,125

I-9 Program service revenuePrior year $100,194,932$107,295,954

I-10 Investment incomePrior year $2,329,474$3,252,430

I-11 Other revenuePrior year $2,666,538$2,665,192

I-12 Total revenuePrior year $107,251,381$114,567,701

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 $43,025,604$44,885,084

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $82,525,009$83,226,358

I-18 Total expensesPrior year $125,550,613$128,111,442

I-19 Revenue less expensesPrior year −$18,299,232−$13,543,741

Part VI · Governance 14 of 14 board members independent, 1 to look at

VI-1a Voting members of the governing body14

VI-1b Independent voting members14

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 $114,567,701 across 8 lines filed

Lines not itemized here account for $1,358,578 of total revenue; see the IRS return.

VIII-1d Related organizations$1,255,145

VIII-1f All other contributions, gifts and grants$98,980

VIII-1h Total contributions, gifts and grants$1,354,125

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $107,295,954$107,295,954

VIII-3 Investment incomeExcluded from tax $2,098,541$2,098,541

VIII-7 Net gain or loss on sales of assetsExcluded from tax −$10,722−$10,722

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $1,244,387 · Excluded from tax $1,226,838$2,471,225

VIII-12 Total revenueRelated to mission $108,540,341 · Unrelated business $0 · Excluded from tax $4,673,235$114,567,701

Part IX · Statement of functional expenses $128,111,442 across 19 lines filed

IX-7 Other salaries and wagesPrograms $27,967,496 · Management $10,026,622$37,994,118

IX-8 Pension plan contributionsPrograms $337,526 · Management $171,529$509,055

IX-9 Other employee benefitsPrograms $2,345,340 · Management $1,191,895$3,537,235

IX-10 Payroll taxesPrograms $1,886,144 · Management $958,532$2,844,676

IX-11a Management feesManagement $5,218,556$5,218,556

IX-11b Legal feesManagement $270,191$270,191

IX-11c Accounting feesManagement $338,136$338,136

IX-11g Other fees for servicesPrograms $17,080,073 · Management $1,038,840$18,118,913

IX-12 Advertising and promotionManagement $1,566,152$1,566,152

IX-13 Office expensesPrograms $1,535,302 · Management $1,047,766$2,583,068

IX-14 Information technologyPrograms $92,737 · Management $1,451,947$1,544,684

IX-16 OccupancyPrograms $7,762,083 · Management $386,958$8,149,041

IX-17 TravelPrograms $32,890 · Management $247,918$280,808

IX-19 Conferences, conventions and meetingsPrograms $1,352 · Management $21,174$22,526

IX-20 InterestPrograms $14,209,129 · Management $512,538$14,721,667

IX-22 Depreciation, depletion and amortizationPrograms $16,378,361 · Management $590,785$16,969,146

IX-23 InsurancePrograms $3,978,389 · Management $141,598$4,119,987

IX-24 Other expenses (24a–d)Programs $8,035,520 · Management $445,160$8,480,680

IX-24e All other expensesPrograms $248,330 · Management $594,473$842,803

IX-25 Total functional expensesPrograms $101,890,672 · Management $26,220,770 · Fundraising $0$128,111,442

Part X · Balance sheet $384,177,784 assets, 20 lines filed

Asset lines not itemized here account for $6,203,636; see the IRS return.

X-1 Cash, non-interest-bearingStart of year $8,506,070$6,542,344

X-2 Savings and temporary cash investmentsStart of year $34,717,256$31,472,503

X-4 Accounts receivableStart of year $10,139,249$4,200,865

X-8 Inventories for sale or useStart of year $350,725$373,820

X-9 Prepaid expenses and deferred chargesStart of year $1,118,525$1,238,700

X-10c Land, buildings and equipment, netStart of year $288,355,442$277,219,363

X-11 Publicly traded securitiesStart of year $37,532,691$36,386,751

X-14 Intangible assetsStart of year $12,900,019$14,213,669

X-15 Other assetsStart of year $4,164,838$6,326,133

X-16 Total assetsStart of year $400,169,927$384,177,784

X-17 Accounts payable and accrued expensesStart of year $7,705,693$7,598,519

X-19 Deferred revenueStart of year $22,359,301$25,867,413

X-20 Tax-exempt bond liabilitiesStart of year $273,164,567$258,201,177

X-24 Unsecured notes and loans payableStart of year $11,772,364$11,516,638

X-25 Other liabilitiesStart of year $184,983,123$193,236,260

X-26 Total liabilitiesStart of year $511,605,704$506,900,929

X-27 Net assets without donor restrictionsStart of year −$122,624,238−$127,026,345

X-28 Net assets with donor restrictionsStart of year $11,188,461$4,303,200

X-32 Total net assets or fund balancesStart of year −$111,435,777−$122,723,145

X-33 Total liabilities and net assetsStart of year $400,169,927$384,177,784

Part XI · Reconciliation of net assets −$122,723,145 net assets at year end

XI-1 Total revenue$114,567,701

XI-2 Total expenses$128,111,442

XI-3 Revenue less expenses−$13,543,741

XI-4 Net assets at start of year−$111,435,777

XI-5 Net unrealized gains (losses) on investments$942,723

XI-9 Other changes in net assets$1,313,650

XI-10 Net assets at end of year−$122,723,145

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

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Methodist Retirement Communities

Before you give

Is it real?

Where the money goes

Who runs it and what they're paid

Questions the 990 asks

Programs and updates

Questions for Methodist Retirement Communities

By the numbers

Filing history

Schedules filed Part IV