Riverwoods Durham FY2023 filing

Tax-deductible

Durham, NH501(c)(3)Since 2017HousingEIN 82-0719418

To establish, own, and maintain a charitable continuing care retirement community for the elderly

501(c)(3) charity; gifts are tax-deductible.
76¢ of each $1 spent went to programs.
$659K 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

FY2023 · 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 5
filings with a surplus
Average deficit $2.4M a year · 12% of revenue · last 5 filings
Concern: a surplus in 1 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
$659K
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
Cash reserves
3 mo
of spending, in cash
Fine: 2.8 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $10K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$149.7M
119% of total assets
Concern: liabilities are 119% of assets; over 80%.
Pt X · Ln 26
Independent board members
17
of 18 voting members
Looks good: 17 of 18 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$20.2M
+14% vs prior year
Spent
$22.9M
To programs
76%
Net assets
−$24.1M
By yearFY2021–FY2025
Revenue
$20.2M
FY2023▲ +14%
Revenue by fiscal year
FY2021$14.1M
FY2022$17.7M
FY2023$20.2M
FY2024$22.8M
FY2025$25.2M
Expenses
$22.9M
FY2023▲ +9%
Expenses by fiscal year
FY2021$19.4M
FY2022$20.9M
FY2023$22.9M
FY2024$24.6M
FY2025$24.5M
Net assets
−$24.1M
FY2023▼ -9%
Net assets by fiscal year
FY2021−$14.3M
FY2022−$22.2M
FY2023−$24.1M
FY2024−$24.2M
FY2025−$22.6M

From the FY2023 Form 990 (year ending June 2023) · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 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 2017.

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% · $17.4M Management & general 24% · $5.5M

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

Who runs it and what they're paid

27 people listed on the 990; $659K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
Director of Nursing
$121,333Pt VII · Sec A
Director of Dining Services
$120,593Pt VII · Sec A
Executive Director
$113,157Pt VII · Sec A
Nurse Practitioner
$105,732Pt VII · Sec A
Senior Living Counselor
$102,155Pt VII · Sec A
Executive Director - Left Jul 2022
$96,383Pt VII · Sec A
Resident Trustee
$0Pt VII · Sec A
Resident Trustee
$0Pt VII · Sec A

Natalee Belanger’s $183K as Executive Director is at the 35th percentile of top reported officer pay among 676 $10–100M housing 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

NameFY2025FY2024FY2023FY2022FY2021
Kimberly O'Keefe————$201,309
Natalee Belanger$182,685$171,055———
Kim O'Keefe Gaskell——$96,383$175,274—
Shari Young-Woody————$169,791
Kaitlin Knapp$151,049$118,024———
Holly Moon$138,553$118,087———
Natalee D'Antoni——$113,157—$134,040
Carolyn Watkins O'Driscoll——$121,333$123,634$132,117

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 housing and care for seniors in a retirement community.

Provided by the organization

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1 program service account for $17.4M of program spending, described in the organization's own filed words · FY2022.
01

Riverwoods durham (RWD) has one primary program service, to establish, manage and maintain a continuing care retirement community which provides housing, health care services, food services, security, and other ancillary services to older adults over age 62.

$17.4Mprogram 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 · received and paid
Grants received · FY2024
Total grants receivedfrom 1 funder$10K
Grants paid · 4 grants · $121K · 2022–2024
Unitemized GrantFY2024$54,110
Unitemized GrantFY2024$25,500
Unitemized GrantFY2023$21,500
Unitemized GrantFY2022$20,000

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$20.2M
Ln 12
Fees for servicesLn 2g$18.8M
Investment incomeLn 3$1.3M
Gifts and grantsLn 1h$138K
Money outPt IX
$22.9M
Ln 25
Programscol B$17.4M
Managementcol C$5.5M
Owns and owesPt X
−$24.1M
net assets · Ln 32
Cash and savingsLn 1–2$5.3M
Total assetsLn 16$125.6M
LiabilitiesLn 26$149.7M
PeoplePt VI, VII
27
listed · VII A
PaidVII A6
Voting boardVI 1a18
IndependentVI 1b17
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$138K
Fees for servicesLn 2g$18.8M
Investment incomeLn 3$1.3M
Gains on assetsLn 7$135K
Total revenueLn 12$20.2M
Assets in detailPt X, end of year
CashLn 1$4.4M
SavingsLn 2$984K
Cash and savings togetherLn 1–2$5.3M
InvestmentsLn 11–13$27.2M
Land, buildings, equipmentLn 10c$91.1M
Other assetsLn 15$940K
Total assetsLn 16$125.6M
LiabilitiesLn 26$149.7M
Net assetsLn 32−$24.1M
OperationsPt I, VI
EmployeesI 5306
VolunteersI 635
Fiscal year endsHeaderJune
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 FY23End FY23
Cash and savingsLn 1–2$9.5M$5.3M
InvestmentsLn 11–13$21.5M$27.2M
Land, buildings, equipmentLn 10c$94.2M$91.1M
Total assetsLn 16$126.6M$125.6M
LiabilitiesLn 26$148.8M$149.7M
Net assetsLn 32−$22.2M−$24.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$20K$20K
Pay of current officers, directors and key staffLn 5$140K$140K
Other salaries and wagesLn 7$8.3M$7.4M$966K
Pension plan contributionsLn 8$63K$54K$10K
Other employee benefitsLn 9$782K$635K$147K
Payroll taxesLn 10$630K$504K$126K
Management feesLn 11a$846K$846K
Legal feesLn 11b$46K$46K
Accounting feesLn 11c$35K$35K
Investment management feesLn 11f$109K$109K
Other fees for servicesLn 11g$1.2M$461K$763K
Advertising and promotionLn 12$319K$181K$137K
Office expensesLn 13$1.4M$1.1M$230K
Information technologyLn 14$747K$435K$312K
OccupancyLn 16$1.6M$1.4M$238K
TravelLn 17$34K$4K$31K
InterestLn 20$1.2M$1.0M$183K
Depreciation, depletion and amortizationLn 22$4.1M$3.1M$999K
InsuranceLn 23$265K$225K$40K
Other expenses (24a–d)Ln 24$939K$816K$122K
All other expensesLn 24e$65K$49K$16K
Total functional expensesLn 25$22.9M$17.4M$5.5M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $25.2M$24.5M$676K−$22.6M 990 PDF
FY2024 $22.8M$24.6M−$1.8M−$24.2M 990 PDF
FY2023 Viewing $20.2M$22.9M−$2.7M−$24.1M 990 PDF
FY2022 $17.7M$20.9M−$3.2M−$22.2M 990 PDF
FY2021 $14.1M$19.4M−$5.3M−$14.3M 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 FY2023 990 (4 parts)
Part VIII · Statement of revenue $20,212,521 across 8 lines filed
VIII-1f All other contributions, gifts and grants$138,127
VIII-1h Total contributions, gifts and grants$138,127
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $18,843,533$18,843,533
VIII-3 Investment incomeExcluded from tax $1,163,908$1,163,908
VIII-6 Net rental income or lossExcluded from tax $12,915$12,915
VIII-7 Net gain or loss on sales of assetsExcluded from tax $135,203$135,203
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax −$81,165−$81,165
VIII-12 Total revenueRelated to mission $18,843,533 · Unrelated business $0 · Excluded from tax $1,230,861$20,212,521
Part IX · Statement of functional expenses $22,863,067 across 21 lines filed
IX-2 Grants to domestic individualsPrograms $20,000$20,000
IX-5 Pay of current officers, directors and key staffManagement $140,419$140,419
IX-7 Other salaries and wagesPrograms $7,379,474 · Management $965,755$8,345,229
IX-8 Pension plan contributionsPrograms $53,652 · Management $9,597$63,249
IX-9 Other employee benefitsPrograms $634,837 · Management $147,135$781,972
IX-10 Payroll taxesPrograms $503,925 · Management $125,981$629,906
IX-11a Management feesManagement $845,968$845,968
IX-11b Legal feesManagement $46,285$46,285
IX-11c Accounting feesManagement $35,326$35,326
IX-11f Investment management feesManagement $109,221$109,221
IX-11g Other fees for servicesPrograms $460,828 · Management $763,302$1,224,130
IX-12 Advertising and promotionPrograms $181,363 · Management $137,178$318,541
IX-13 Office expensesPrograms $1,120,718 · Management $230,186$1,350,904
IX-14 Information technologyPrograms $434,835 · Management $311,932$746,767
IX-16 OccupancyPrograms $1,350,181 · Management $238,267$1,588,448
IX-17 TravelPrograms $3,704 · Management $30,787$34,491
IX-20 InterestPrograms $1,025,397 · Management $183,455$1,208,852
IX-22 Depreciation, depletion and amortizationPrograms $3,106,719 · Management $998,678$4,105,397
IX-23 InsurancePrograms $225,114 · Management $39,726$264,840
IX-24 Other expenses (24a–d)Programs $816,489 · Management $122,103$938,592
IX-24e All other expensesPrograms $48,958 · Management $15,572$64,530
IX-25 Total functional expensesPrograms $17,366,194 · Management $5,496,873 · Fundraising $0$22,863,067
Part X · Balance sheet $125,584,505 assets, 18 lines filed
X-1 Cash, non-interest-bearingStart of year $1,622,442$4,359,693
X-2 Savings and temporary cash investmentsStart of year $7,897,361$983,756
X-4 Accounts receivableStart of year $176,053$770,836
X-8 Inventories for sale or useStart of year $50,237$64,792
X-9 Prepaid expenses and deferred chargesStart of year $124,434$176,185
X-10c Land, buildings and equipment, netStart of year $94,246,057$91,124,875
X-11 Publicly traded securitiesStart of year $21,460,566$27,164,648
X-15 Other assetsStart of year $1,048,835$939,720
X-16 Total assetsStart of year $126,625,985$125,584,505
X-17 Accounts payable and accrued expensesStart of year $1,253,683$1,416,084
X-19 Deferred revenueStart of year $11,226,770$11,005,288
X-20 Tax-exempt bond liabilitiesStart of year $52,980,000$52,980,000
X-25 Other liabilitiesStart of year $78,575,392$81,291,762
X-26 Total liabilitiesStart of year $148,802,845$149,698,100
X-27 Net assets without donor restrictionsStart of year −$22,314,257−$24,200,473
X-28 Net assets with donor restrictionsStart of year $137,397$86,878
X-32 Total net assets or fund balancesStart of year −$22,176,860−$24,113,595
X-33 Total liabilities and net assetsStart of year $126,625,985$125,584,505
Part XI · Reconciliation of net assets −$24,113,595 net assets at year end
XI-1 Total revenue$20,212,521
XI-2 Total expenses$22,863,067
XI-3 Revenue less expenses−$2,650,546
XI-4 Net assets at start of year−$22,176,860
XI-5 Net unrealized gains (losses) on investments$713,811
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$24,113,595

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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