Southminster INC FY2021 filing

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To provide continuing care to residents of Southminster, INC.

501(c)(3) charity; gifts are tax-deductible.
88¢ of each $1 spent went to programs.
$1.5M 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

FY2021 · 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 6
filings with a surplus
Average deficit $1.2M a year · 3% of revenue · last 6 filings
Concern: a surplus in 1 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
88%
of spending
Looks good: 88% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$1.5M
to officers and key staff · 3% of spending
Looks good: pay to officers and key staff is 3% of spending; 15% or less.
Pt VII · Sec A
2 mo
of spending, in cash
Plus $43.8M in investments, Pt X · Ln 11–13
Fine: 1.5 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
9
named funders · $174K
Looks good: 9 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$253.3M
104% of total assets
Concern: liabilities are 104% of assets; over 80%.
Pt X · Ln 26
Independent board members
13
of 13 voting members
Looks good: 13 of 13 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$38.7M
+14% vs prior year
Spent
$42.1M
To programs
88%
Net assets
−$9.5M
By yearFY2020–FY2025
Revenue
$38.7M
FY2021▲ +14%
Tap a bar for its year
Revenue by fiscal year
FY2020$33.8M
FY2021$38.7M
FY2022$46.6M
FY2023$51.2M
FY2024$48.9M
FY2025$54.4M
Expenses
$42.1M
FY2021▲ +28%
Tap a bar for its year
Expenses by fiscal year
FY2020$32.8M
FY2021$42.1M
FY2022$46.6M
FY2023$51.3M
FY2024$53.8M
FY2025$54.6M
Net assets
−$9.5M
FY2021▼ -22%
Tap a bar for its year
Net assets by fiscal year
FY2020−$7.8M
FY2021−$9.5M
FY2022−$17.9M
FY2023−$16.1M
FY2024−$17.1M
FY2025−$16.0M

From the FY2021 Form 990 (year ending September 2021) · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Nov 1984.

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

Where the money goes

88 cents of each dollar spent went to programs.

Program services 88% · $36.9M Management & general 12% · $5.1M Fundraising 0% · $103K

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

25 people listed on the 990; $1.5M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
President & CEO
$374,054Pt VII · Sec A
CFO/Asst Treasurer
$212,212Pt VII · Sec A
COO/Asst Secretary
$211,483Pt VII · Sec A
Marketing Director
$159,290Pt VII · Sec A
IT Director
$138,646Pt VII · Sec A
Culinary Services Director
$128,935Pt VII · Sec A
Marketing Counselor
$114,918Pt VII · Sec A
Registered Nurse
$110,750Pt VII · Sec A

Ben Gilchrist’s $510K as President & CEO is at the 95th 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

NameFY2025FY2024FY2023FY2022FY2021FY2020
Ben Gilchrist$509,808$477,426$437,979$363,848$374,054$178,478
David Lacy—————$392,133
Kenda Laughey$297,736$279,069$264,500$244,609$212,212$208,708
Arnoldo Marquez$236,857$207,942$166,390$154,603$138,646$122,396
Mary Cooper Former Cooasst Sec——$235,695———
Mary Cooper———$228,034$211,483$190,669
Stewart Wiley$185,379$178,472$178,336$178,682$159,290$181,362
Teresa Lewis$152,514$145,407$135,752$127,332——

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 Southminster INC 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 15aYes

Programs and updates

Offers ongoing support and care for residents of Southminster.

Questions for Southminster INC

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1 program · $36.9M · in their own filed words · FY2020
01

Continuing care retirement communityprovide a continuum of services (independent living, assisted living, nursing) to older adults that allows them to live independently and as actively as their faculties and strength permit.

$36.9Mprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · received and paid
Grants received · FY2024
See all 9 funders →
Grants paid · 108 grants · $8.1M · 2019–2024
Unitemized GrantFY2024$819,225
The IveyNC · FY2024$175,000
Unc CharlotteFY2024$46,705
The Echo FoundationNC · FY2024$40,000
ArtsNC · FY2024$15,000
Feeding Charlotte INCNC · FY2024$13,067
Charlotte Writers Club INCNC · FY2024$6,250
Unitemized GrantFY2023$935,542
The IveyNC · FY2023$100,000
Potions & Pixels NonprofitNC · FY2023$83,000
Sustain Charlotte INCNC · FY2023$70,000
See all 108 grants →

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$38.7M
Ln 12
Fees for servicesLn 2g$34.4M
Investment incomeLn 3$2.5M
Gifts and grantsLn 1h$1.6M
Money outPt IX
$42.1M
Ln 25
Programscol B$36.9M
Managementcol C$5.1M
Fundraisingcol D$103K
Owns and owesPt X
−$9.5M
net assets · Ln 32
Cash and savingsLn 1–2$5.1M
Total assetsLn 16$243.8M
LiabilitiesLn 26$253.3M
PeoplePt VI, VII
25
listed · VII A
PaidVII A8
Voting boardVI 1a13
IndependentVI 1b13
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.6M
Noncash giftsLn 1g$579K
Fees for servicesLn 2g$34.4M
Investment incomeLn 3$2.5M
Other incomeLn 4–11$257K
Gains on assetsLn 7$840K
Total revenueLn 12$38.7M
Assets in detailPt X, end of year
CashLn 1$1.7M
SavingsLn 2$3.4M
Cash and savings togetherLn 1–2$5.1M
InvestmentsLn 11–13$43.8M
Land, buildings, equipmentLn 10c$192.5M
Other assetsLn 15$207K
Total assetsLn 16$243.8M
LiabilitiesLn 26$253.3M
Net assetsLn 32−$9.5M
OperationsPt I, VI
EmployeesI 5543
VolunteersI 680
Fiscal year endsHeaderSeptember
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$160.0M
Bond issues listedSch K Pt I2
Raised by those issuesSch K Pt I$155.5M
Abroad and in kindSch F, M
Noncash gifts receivedSch M Pt I$579K
4Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$5.3M$5.1M
InvestmentsLn 11–13$42.4M$43.8M
Land, buildings, equipmentLn 10c$192.2M$192.5M
Total assetsLn 16$242.7M$243.8M
LiabilitiesLn 26$250.5M$253.3M
Net assetsLn 32−$7.8M−$9.5M
5Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$681K$681K
Grants to domestic individualsLn 2$589K$589K
Pay of current officers, directors and key staffLn 5$951K$259K$692K
Other salaries and wagesLn 7$12.3M$10.8M$1.5M$62K
Pension plan contributionsLn 8$422K$342K$76K$3K
Other employee benefitsLn 9$2.6M$2.2M$424K$13K
Payroll taxesLn 10$937K$796K$135K$5K
Legal feesLn 11b$24K$24K
Accounting feesLn 11c$60K$60K
Professional fundraising feesLn 11e$2K$2K
Investment management feesLn 11f$138K$138K
Other fees for servicesLn 11g$256K$92K$164K
Advertising and promotionLn 12$280K$44K$236K
Office expensesLn 13$176K$73K$104K
Information technologyLn 14$375K$9K$366K
OccupancyLn 16$1.3M$1.3M
TravelLn 17$179$179
Conferences, conventions and meetingsLn 19$23K$11K$12K
InterestLn 20$6.4M$6.3M$82K
Depreciation, depletion and amortizationLn 22$9.8M$9.6M$142K
InsuranceLn 23$340K$340K
Other expenses (24a–d)Ln 24$4.4M$3.9M$560K$19K
Total functional expensesLn 25$42.1M$36.9M$5.1M$103K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 LatestFiled with the IRS Feb 13, 2026 $54.4M$54.6M−$188K−$16.0M 990 PDF
FY2024Filed with the IRS Feb 13, 2025 $48.9M$53.8M−$4.8M−$17.1M 990 PDF
FY2023Filed with the IRS Feb 15, 2024 $51.2M$51.3M−$30K−$16.1M 990 PDF
FY2022Filed with the IRS Feb 15, 2023 $46.6M$46.6M−$54K−$17.9M 990 PDF
FY2021 ViewingFiled with the IRS Feb 15, 2022 $38.7M$42.1M−$3.3M−$9.5M 990 PDF
FY2020Filed with the IRS Feb 15, 2021 $33.8M$32.8M$1.0M−$7.8M 990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support M · Noncash J · Pay O · Explanations
See the full FY2021 990 (6 parts)
Part I · Summary $38,734,490 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $788,991$1,620,058
I-9 Program service revenuePrior year $31,800,030$34,381,967
I-10 Investment incomePrior year $1,177,025$2,474,986
I-11 Other revenuePrior year $69,143$257,479
I-12 Total revenuePrior year $33,835,189$38,734,490
I-13 Grants and similar amounts paidPrior year $1,159,820$1,270,113
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $16,258,390$17,244,416
I-16a Professional fundraising feesPrior year $0$1,525
I-17 Other expensesPrior year $15,416,471$23,562,203
I-18 Total expensesPrior year $32,834,681$42,078,257
I-19 Revenue less expensesPrior year $1,000,508−$3,343,767
Part VI · Governance 13 of 13 board members independent, no flags
VI-1a Voting members of the governing body13
VI-1b Independent voting members13
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
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $38,734,490 across 8 lines filed
Lines not itemized here account for $241,290 of total revenue; see the IRS return.
VIII-1f All other contributions, gifts and grants$1,620,058
VIII-1g Noncash contributions (included above)$578,537
VIII-1h Total contributions, gifts and grants$1,620,058
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $34,140,677$34,140,677
VIII-3 Investment incomeExcluded from tax $1,634,602$1,634,602
VIII-6 Net rental income or lossExcluded from tax $257,479$257,479
VIII-7 Net gain or loss on sales of assetsExcluded from tax $840,384$840,384
VIII-12 Total revenueRelated to mission $34,381,967 · Unrelated business $0 · Excluded from tax $2,732,465$38,734,490
Part IX · Statement of functional expenses $42,078,257 across 22 lines filed
IX-1 Grants to domestic organizationsPrograms $680,622$680,622
IX-2 Grants to domestic individualsPrograms $589,491$589,491
IX-5 Pay of current officers, directors and key staffPrograms $258,625 · Management $692,433$951,058
IX-7 Other salaries and wagesPrograms $10,765,435 · Management $1,512,772 · Fundraising $61,756$12,339,963
IX-8 Pension plan contributionsPrograms $342,244 · Management $76,283 · Fundraising $3,397$421,924
IX-9 Other employee benefitsPrograms $2,158,609 · Management $423,573 · Fundraising $12,753$2,594,935
IX-10 Payroll taxesPrograms $796,377 · Management $135,478 · Fundraising $4,681$936,536
IX-11b Legal feesManagement $24,005$24,005
IX-11c Accounting feesManagement $59,765$59,765
IX-11e Professional fundraising feesFundraising $1,525$1,525
IX-11f Investment management feesManagement $137,526$137,526
IX-11g Other fees for servicesPrograms $91,852 · Management $163,759$255,611
IX-12 Advertising and promotionPrograms $44,100 · Management $235,950$280,050
IX-13 Office expensesPrograms $72,802 · Management $103,684$176,486
IX-14 Information technologyPrograms $8,835 · Management $366,243$375,078
IX-16 OccupancyPrograms $1,309,066$1,309,066
IX-17 TravelPrograms $179$179
IX-19 Conferences, conventions and meetingsPrograms $11,146 · Management $12,261$23,407
IX-20 InterestPrograms $6,300,413 · Management $81,749$6,382,162
IX-22 Depreciation, depletion and amortizationPrograms $9,616,027 · Management $141,631$9,757,658
IX-23 InsuranceManagement $339,775$339,775
IX-24 Other expenses (24a–d)Programs $3,862,399 · Management $559,859 · Fundraising $19,177$4,441,435
IX-25 Total functional expensesPrograms $36,908,222 · Management $5,066,746 · Fundraising $103,289$42,078,257
Part X · Balance sheet $243,805,102 assets, 18 lines filed
X-1 Cash, non-interest-bearingStart of year $2,395,537$1,718,482
X-2 Savings and temporary cash investmentsStart of year $2,927,988$3,387,512
X-3 Pledges and grants receivableStart of year $773,142$594,755
X-4 Accounts receivableStart of year $231,847$222,464
X-8 Inventories for sale or useStart of year $70,241$90,434
X-9 Prepaid expenses and deferred chargesStart of year $1,533,377$1,290,856
X-10c Land, buildings and equipment, netStart of year $192,152,674$192,477,167
X-11 Publicly traded securitiesStart of year $42,447,677$43,816,410
X-15 Other assetsStart of year $187,223$207,022
X-16 Total assetsStart of year $242,719,706$243,805,102
X-17 Accounts payable and accrued expensesStart of year $10,657,874$4,572,706
X-19 Deferred revenueStart of year $77,740,811$88,695,913
X-20 Tax-exempt bond liabilitiesStart of year $152,114,624$160,039,659
X-26 Total liabilitiesStart of year $250,539,492$253,308,278
X-27 Net assets without donor restrictionsStart of year −$9,431,830−$11,384,877
X-28 Net assets with donor restrictionsStart of year $1,612,044$1,881,701
X-32 Total net assets or fund balancesStart of year −$7,819,786−$9,503,176
X-33 Total liabilities and net assetsStart of year $242,719,706$243,805,102
Part XI · Reconciliation of net assets −$9,503,176 net assets at year end
XI-1 Total revenue$38,734,490
XI-2 Total expenses$42,078,257
XI-3 Revenue less expenses−$3,343,767
XI-4 Net assets at start of year−$7,819,786
XI-5 Net unrealized gains (losses) on investments$1,660,377
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$9,503,176

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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