METHODIST RETIREMENT COMMUNITIES G… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2016

Legal Domicile

Principal Officer

DON STEPHENS

Phone

2813632600

Tax Period

2023-01-01 to 2023-12-31

METHODIST RETIREMENT COMMUNITIES GROUP RETURN, founded in 2016, is a major nonprofit that reported $107.3M in total revenue in fiscal year 2023. Revenue grew 15% year-over-year, indicating healthy expansion. Expenses of $125.6M exceeded revenue, resulting in a 17% operating deficit.

Mission

THE ORGANIZATION IS COMMITTED TO QUALITY LIVING FOR SENIOR ADULTS IN A FAITH-BASED ENVIRONMENT.

Program Service Accomplishments

Program 1

Expenses: $25,380,016 Revenue: $36,475,425

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. MRC TOWNCREEK HAS 66 HEALTH CARE BEDS LOCATED IN HUNTSVILLE, TEXAS, MRC CORNERSTONE HAS 40 HEALTH CARE BEDS LOCATED IN TEXARKANA, TEXAS, MRC CRESTVIEW HAS 48 HEALTH CARE BEDS LOCATED IN BRYAN, TEXAS, MRC PINECREST HAS 51 HEALTH CARE BEDS LOCATED IN LUFKIN, TEXAS, HAPPY HARBOR METHODIST HOME, INC. HAS 48 HEALTH CARE BEDS LOCATED IN LEAGUE CITY, TEXAS, AND MRC SENIOR LIVING CORPUS CHRISTI HAS 41 HEALTH CARE BEDS LOCATED IN CORPUS CHRISTI, TEXAS.

Program 2

Expenses: $45,374,452 Revenue: $35,766,504

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 HOUSING. FIVE OF THE INDEPENDENT LIVING PROPERTIES ARE FINANCED BY HUD WHICH INCLUDE BAYVIEW SENIOR HOUSING, MRC CRESTVIEW PLACE, MRC CRESTVIEW TERRACE, CRESTVIEW UNITY, AND HAPPY HARBOR SENIOR HOUSING. MRC CORNERSTONE HAS 108 INDEPENDENT LIVING UNITS LOCATED IN TEXARKANA, TEXAS, MRC CRESTVIEW HAS 91 INDEPENDENT LIVING UNITS LOCATED IN BRYAN, TEXAS, MRC PINECREST HAS 119 INDEPENDENT LIVING UNITS LOCATED IN LUFKIN, TEXAS, HAPPY HARBOR METHODIST HOME, INC. HAS 116 INDEPENDENT LIVING UNITS LOCATED IN LEAGUE CITY, TEXAS, MRC SENIOR LIVING AT CLEARLAKE HAS 72 INDEPENDENT LIVING UNITS LOCATED IN COLLEGE STATION, TEXAS, MRC SENIOR LIVING CORPUS CHRISTI HAS 125 INDEPENDENT LIVING UNITS LOCATED IN CORPUS CHRISTI, TEXAS, BAYVIEW SENIOR HOUSING HAS 61 INDEPENDENT LIVING UNITS LOCATED IN LAPORTE, TEXAS, MRC CRESTVIEW PLACE HAS 44 INDEPENDENT LIVING UNITS LOCATED IN BRYAN, TEXAS, MRC CRESTVIEW TERRACE HAS 100 INDEPENDENT LIVING UNITS LOCATED IN BRYAN, TEXAS, CRESTVIEW UNITY HAS 63 INDEPENDENT LIVING UNITS LOCATED IN BRYAN, TEXAS, AND HAPPY HARBOR SENIOR HOUSING HAS 51 INDEPENDENT LIVING UNITS LOCATED IN LAPORTE, TEXAS.

Program 3

Expenses: $26,440,031 Revenue: $28,208,373

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. MRC TOWNCREEK HAS 32 ASSISTED LIVING UNITS AND 18 MEMORY SUPPORT UNITS LOCATED IN HUNTSVILLE, TEXAS, MRC CORNERSTONE HAS 51 ASSISTED LIVING UNITS INCLUDING 36 CERTIFIED UNITS FOR ALZHEIMER'S CARE LOCATED IN TEXARKANA, TEXAS, MRC CRESTVIEW HAS 48 ASSISTED LIVING UNITS AND 18 MEMORY SUPPORT UNITS LOCATED IN BRYAN, TEXAS, MRC PINECREST HAS 40 MEMORY SUPPORT UNITS LOCATED IN LUFKIN, TEXAS, HAPPY HARBOR METHODIST HOME, INC. HAS 36 ASSISTED LIVING UNITS AND 24 MEMORY SUPPORT UNITS LOCATED IN LEAGUE CITY, TEXAS., MRC SENIOR LIVING AT CLEARLAKE HAS 24 ASSISTED LIVING UNITS AND 18 MEMORY SUPPORT UNITS LOCATED IN COLLEGE STATION, TEXAS, AND MRC SENIOR LIVING CORPUS CHRISTI HAS 44 ASSISTED LIVING UNITS AND 18 MEMORY SUPPORT UNITS LOCATED IN CORPUS CHRISTI, TEXAS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $2,060,437

Program Service Revenue $100,194,932

Investment Income $2,329,474

Other Revenue $2,666,538

TOTAL REVENUE $107,251,381

Expense Breakdown

Grants Paid $0

Salaries & Benefits $43,025,604

Fundraising Expenses $0

Program Expenses $98,602,148

Other Expenses $82,525,009

TOTAL EXPENSES $125,550,613

Year-over-Year Comparison

	2023	2022	Change
Revenue	$107,251,381	$93,551,771	+0.1%
Expenses	$125,550,613	$109,968,279	+0.1%
Net Income	$-18,299,232	$-16,416,508	+0.1%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

1493

Volunteers

713

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$891,975

Total Directors

$509,144

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MR ALAN BROWN	PRESIDENT AND CEO	40.00	Officer Director	$0	$38,745	$509,144
MR DON STEPHENS	CHIEF FINANCIAL OFFICER	38.00	Officer	$0	$27,827	$382,831
MS AMY THOMAS	VP & EXECUTIVE DIRECTOR	40.00	Highest	$0	$36,685	$224,249
MS JILL JANES	VP OF SALES & MARKETING	40.00	Highest	$0	$36,092	$222,374
MR MATTHEW CURRIE	VP & EXECUTIVE DIRECTOR	40.00	Highest	$0	$3,993	$205,037
MS DEBORAH NUGENT	EXECUTIVE DIRECTOR	40.00	Highest	$0	$11,645	$194,985
MS FRANCES BELTRAN	VP OF HUMAN RESOURCES	40.00	Highest	$0	$23,961	$190,398
MRS ALYCE ANNE BAGGETT	CHAIR	9.00	Officer Director	$0	$0	$0
REV PRESTON MORGAN	VICE CHAIR	9.00	Officer Director	$0	$0	$0
MR JIM BUNCH	DIRECTOR	1.00	Director	$0	$0	$0
MR DALE CONGER	DIRECTOR	1.00	Director	$0	$0	$0
REV KIP GILTS	DIRECTOR	1.00	Director	$0	$0	$0
MR WAYNE D HAGLUND	DIRECTOR	1.00	Director	$0	$0	$0
MR BILL KING	DIRECTOR	1.00	Director	$0	$0	$0
MR BILL KOERNER	DIRECTOR	1.00	Director	$0	$0	$0
REV ROMONICA MALONE-WARDLEY	DIRECTOR	1.00	Director	$0	$0	$0
REV ED SIMMONS	DIRECTOR	1.00	Director	$0	$0	$0
MR LARRY ST MARTIN	DIRECTOR (TERM END 6/23)	1.00	Director	$0	$0	$0
MR FRANKIE WATSON	DIRECTOR	1.00	Director	$0	$0	$0
REV BILLY T WILLIAMSON	DIRECTOR	1.00	Director	$0	$0	$0
MR THOMAS R WUSSOW	DIRECTOR (TERM END 6/23)	1.00	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$107,251,381	$125,550,613	$400,169,927	$-18,299,232
2022	$93,551,771	$109,968,279	$420,110,632	$-16,416,508
2021	$84,432,559	$113,894,926	$418,152,845	$-29,462,367
2020	$83,548,971	$96,548,292	$427,980,872	$-12,999,321
2019	$78,233,565	$91,302,794	$326,609,504	$-13,069,229
2018	$68,022,387	$75,030,549	$290,135,151	$-7,008,162

METHODIST RETIREMENT COMMUNITIES GROUP RETURN