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Lexmed INC FY2024 filing

Tax-deductible

Lexington, SC501(c)(3)Since 2021Health CareEIN 57-0874078Revenue $36.5M in FY2024

On file with the IRS815 Old Cherokee Rd, 29072-9041 · Lexington, SCTax-exempt since Jul 2021Supporting org, Type I — 509(a)(3)

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To promote and facilitate the provision of congregate care, nursing, and operate health care related facilities for the aged.

501(c)(3) charity; gifts are tax-deductible.
46¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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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
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
0 of 5
filings with a surplus
Average deficit $4.0M a year · 12% of revenue · last 5 filings
Concern: a surplus in 0 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
46%
of spending
Concern: 46% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Concern: 0.0 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$22.7M
107% of total assets
Concern: liabilities are 107% of assets; over 80%.
Pt X · Ln 26
Independent board members
4
of 6 voting members
Looks good: 4 of 6 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$36.5M
+4% vs prior year
Spent
$41.0M
To programs
46%
Net assets
−$1.6M
By yearFY2021–FY2025
Revenue
$36.5M
FY2024▲ +4%
Tap a bar for its year
Revenue by fiscal year
FY2021$22.7M
FY2022$34.8M
FY2023$35.2M
FY2024$36.5M
FY2025$36.2M
Expenses
$41.0M
FY2024▲ +8%
Tap a bar for its year
Expenses by fiscal year
FY2021$25.9M
FY2022$37.1M
FY2023$38.1M
FY2024$41.0M
FY2025$43.2M
Net assets
−$1.6M
FY2024▼ -153%
Tap a bar for its year
Net assets by fiscal year
FY2021$8.2M
FY2022$5.8M
FY2023$3.0M
FY2024−$1.6M
FY2025−$8.6M

From the FY2024 Form 990 (year ending September 2024) · figures checked against the IRS filing · see the original

990 PDF Claim
You’re viewing the FY2024 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 Jul 2021.

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

Where the money goes

46 cents of each dollar spent went to programs.

Program services 46% · $19.0M Management & general 54% · $22.0M

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

14 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Larry Stroud
Board Member
$0Pt VII · Sec A
Mickey Layden
President/CEO
$0Pt VII · Sec A
Frank Shumpert
Board Member
$0Pt VII · Sec A
David Lamb
Vice Chairman
$0Pt VII · Sec A
Dr Gilbert L Rogers
Medical Director
$0Pt VII · Sec A
Tod a Augsburger
President/CEO
$0Pt VII · Sec A
Jeffrey Brillhart
SR Vice President/CFO
$0Pt VII · Sec A
Kathryn Diane Gill
VP for Extended Care
$0Pt VII · Sec A
See Lexmed INC 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 healthcare and housing for seniors in community settings.

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Provided by the organization

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1 program · $19.0M · in their own filed words · FY2023
01

To promote and facilitate the provision of congregate care, nursing, and operate health care related facilities for the aged in lexington county, south carolina and the surrounding areas.

$19.0Mprogram expense

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$36.5M
Ln 12
Fees for servicesLn 2g$36.5M
Investment incomeLn 3$43
Money outPt IX
$41.0M
Ln 25
Programscol B$19.0M
Managementcol C$22.0M
Owns and owesPt X
−$1.6M
net assets · Ln 32
Cash and savingsLn 1–2$145K
Total assetsLn 16$21.2M
LiabilitiesLn 26$22.7M
PeoplePt VI, VII
14
listed · VII A
PaidVII A0
Voting boardVI 1a6
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$36.5M
Investment incomeLn 3$43
Total revenueLn 12$36.5M
Assets in detailPt X, end of year
CashLn 1$2K
SavingsLn 2$143K
Cash and savings togetherLn 1–2$145K
Land, buildings, equipmentLn 10c$17.1M
Total assetsLn 16$21.2M
LiabilitiesLn 26$22.7M
Net assetsLn 32−$1.6M
OperationsPt I, VI
EmployeesI 50
VolunteersI 660
Fiscal year endsHeaderSeptember
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$167K$145K
Land, buildings, equipmentLn 10c$15.6M$17.1M
Total assetsLn 16$19.7M$21.2M
LiabilitiesLn 26$16.7M$22.7M
Net assetsLn 32$3.0M−$1.6M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$22.8M$16.8M$6.0M
Other employee benefitsLn 9$7.6M$7.6M
Other fees for servicesLn 11g$247K$21K$227K
OccupancyLn 16$123K$64K$59K
InterestLn 20$19K$19K
Depreciation, depletion and amortizationLn 22$1.6M$103K$1.5M
InsuranceLn 23$34K$34K
Other expenses (24a–d)Ln 24$8.2M$1.9M$6.2M
All other expensesLn 24e$392K$43K$349K
Total functional expensesLn 25$41.0M$19.0M$22.0M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $36.2M$43.2M−$7.1M−$8.6M 990 PDF
FY2024 Viewing $36.5M$41.0M−$4.5M−$1.6M 990 PDF
FY2023 $35.2M$38.1M−$2.9M$3.0M 990 PDF
FY2022 $34.8M$37.1M−$2.4M$5.8M 990 PDF
FY2021 $22.7M$25.9M−$3.2M$8.2M 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 $36,501,284 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,532,000$0
I-9 Program service revenuePrior year $33,877,952$36,501,241
I-10 Investment incomePrior year −$174,545$43
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $35,235,407$36,501,284
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 $27,755,727$30,397,607
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $10,351,493$10,611,986
I-18 Total expensesPrior year $38,107,220$41,009,593
I-19 Revenue less expensesPrior year −$2,871,813−$4,508,309
Part VI · Governance 4 of 6 board members independent, 1 to look at
VI-1a Voting members of the governing body6
VI-1b Independent voting members4
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 $36,501,284 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $36,501,241$36,501,241
VIII-3 Investment incomeRelated to mission $43$43
VIII-12 Total revenueRelated to mission $36,501,284 · Unrelated business $0 · Excluded from tax $0$36,501,284
Part IX · Statement of functional expenses $41,009,593 across 9 lines filed
IX-7 Other salaries and wagesPrograms $16,818,302 · Management $6,024,785$22,843,087
IX-9 Other employee benefitsManagement $7,554,520$7,554,520
IX-11g Other fees for servicesPrograms $20,672 · Management $226,702$247,374
IX-16 OccupancyPrograms $64,148 · Management $59,170$123,318
IX-20 InterestManagement $19,046$19,046
IX-22 Depreciation, depletion and amortizationPrograms $103,368 · Management $1,531,894$1,635,262
IX-23 InsuranceManagement $33,724$33,724
IX-24 Other expenses (24a–d)Programs $1,915,286 · Management $6,245,974$8,161,260
IX-24e All other expensesPrograms $42,702 · Management $349,300$392,002
IX-25 Total functional expensesPrograms $18,964,478 · Management $22,045,115 · Fundraising $0$41,009,593
Part X · Balance sheet $21,166,901 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $1,625$1,741
X-2 Savings and temporary cash investmentsStart of year $165,476$143,396
X-4 Accounts receivableStart of year $3,636,224$3,693,531
X-8 Inventories for sale or useStart of year $185,808$178,086
X-9 Prepaid expenses and deferred chargesStart of year $39,066$34,755
X-10c Land, buildings and equipment, netStart of year $15,639,418$17,115,392
X-16 Total assetsStart of year $19,667,617$21,166,901
X-17 Accounts payable and accrued expensesStart of year $2,770,620$3,689,322
X-25 Other liabilitiesStart of year $13,943,380$19,032,271
X-26 Total liabilitiesStart of year $16,714,000$22,721,593
X-32 Total net assets or fund balancesStart of year $2,953,617−$1,554,692
X-33 Total liabilities and net assetsStart of year $19,667,617$21,166,901
Part XI · Reconciliation of net assets −$1,554,692 net assets at year end
XI-1 Total revenue$36,501,284
XI-2 Total expenses$41,009,593
XI-3 Revenue less expenses−$4,508,309
XI-4 Net assets at start of year$2,953,617
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$1,554,692

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

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