Health Systems Real Estate Inc
- Assets
- $129.2m
- Revenue
- $22.7m
- Investments
- $0.0
- Employees
- 22
- Location
- Gray, GA
- Founding
- 07/2003
- Data as of
- 06/2022
- EIN
- 43-2007488
Organization Overview
Health Systems Real Estate Inc is located in Gray, GA. The organization was established in 2003. According to its NTEE Classification (E90) the organization is classified as: Nursing, under the broad grouping of Health Care and related organizations. As of 06/2022, Health Systems Real Estate Inc employed 22 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Health Systems Real Estate Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Health Systems Real Estate Inc generated $22.7m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.2% each year. All expenses for the organization totaled $8.1m during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO FINANCE, ACQUIRE, LEASE, MAINTAIN AND OWN SKILLED NURSING FACILITIES AND OTHER REAL ESTATE AS PART OF AN INTEGRATED HEALTH CARE DELIVERY SYSTEM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FINANCED, ACQUIRED, LEASED, MAINTAINED, DEVELOPED AND OWNED SKILLED NURSING FACILITIES AND OTHER REAL ESTATE AS A MEMBER OF AN INTEGRATED HEALTH CARE DELIVERY SYSTEM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ronnie Rollins President, D | OfficerTrustee | 4 | $0 |
Lorraine T Taylor Secretary | Officer | 4 | $0 |
Angela Hammack Corporate Se | 0 | $0 | |
Edward S Nelson Senior VP | Officer | 40 | $233,970 |
Teresa Moody President | 0 | $0 | |
Randy Coody Chairman | Trustee | 4 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Jonathan William Bennett Interest | 6/29/18 | $361,858 |
Starr Leigh Thomas Interest | 6/29/18 | $422,168 |
Joseph R Bennett Sr Interest | 6/29/18 | $186,187 |
Joseph Richard Bennett Ii Interest | 6/29/18 | $140,898 |
Dawn Ellen Howard Interest | 6/29/18 | $100,642 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $20,419,187 |
| Investment income | $2,303,424 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $22,722,611 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $548,311 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $814,910 |
| Pension plan accruals and contributions | $50,937 |
| Other employee benefits | $143,451 |
| Payroll taxes | $94,117 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $82,128 |
| Fees for services: Accounting | $21,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $69,737 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $837,909 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,064,193 |
| Insurance | $32,302 |
| All other expenses | $51,521 |
| Total functional expenses | $8,146,212 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $497,678 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $127,148,791 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,560,688 |
| Total assets | $129,207,157 |
| Accounts payable and accrued expenses | $239,387 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $7,397,000 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $8,581,463 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $16,217,850 |
| Net assets without donor restrictions | $112,989,307 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $129,207,157 |