2023-11-15T09:57:51-06:00 2022-12-31 721396621 CARR RIGGS & INGRAM LLC 4004 SUMMIT BLVD NE SUITE 800 ATLANTA GA 30319 990 2022-01-01 580969850 BAPTIST RETIREMENT COMMUNITIES OF GEORGIA INC BAPT 7625002021 89 HIAWASSEE PARK DRIVE HIAWASSEE GA 30546 SHANNON WATSON PRESIDENT/CEO 7625002021 2023-07-03 1 SHANNON WATSON 999009999 1 X STANLEY M SMITH II P00319916 7703948000 2023-07-03 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z SHANNON WATSON 89 HIAWASSEE PARK DRIVE HIAWASSEE GA 30546 78361190 0 X WWW.BRCGA.ORG X 1966 GA TO ENRICH THE LIVES OF SENIOR ADULTS BY EMPOWERING EACH INDIVIDUAL TO FLOURISH WHILE AGING IN PLACE WITHIN A CHRISTIAN ENVIRONMENT. PART OF THAT MISSION IS TO PROVIDE AFFORDABLE HOUSING FOR SENIORS, AGE 50 AND UP, IN A CHRISTIAN ENVIRONMENT. THE ORGANIZATION PROVIDES BELOW MARKET INDEPENDENT LIVING AT OUR TWO LOCATIONS: HIAWASSEE PARK IN THE MOUNTAINS OF NORTH GEORGIA; AND PALMETTO PARK IN PALMETTO, GEORGIA. 14 14 40 15 0 0 713702 33680697 3368809 4194811 213336 -3322934 36543 0 4332390 34552574 0 0 0 0 1786528 1621933 0 0 76648 4146274 5539526 5932802 7161459 -1600412 27391115 39841511 35869264 35378789 4858957 4462722 31010307 TO ENRICH THE LIVES OF SENIOR ADULTS BY EMPOWERING EACH INDIVIDUAL TO FLOURISH WHILE AGING IN PLACE WITHIN A CHRISTIAN ENVIRONMENT. 0 0 5782991 4194811 PROVIDING SENIOR ADULTS COMFORTABLE, ATTRACTIVE HOMES AND SERVICES AT AN AFFORDABLE PRICE. 5782991 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 19 0 1 40 1 0 0 0 0 0 0 0 0 0 0 X 14 14 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 GA X X SHANNON WATSON 7625002021 89 HIAWASSEE PARK DRIVE HIAWASSEE GA 30546 REV STEPHEN AWTREY TRUSTEE 0.00 X 0 0 0 CRYSTAL BICE TRUSTEE 0.00 X 0 0 0 MARK CAMP TRUSTEE 0.00 X 0 0 0 THOMAS HAMMOND JR TRUSTEE 0.00 X 0 0 0 JUDY HAYES TRUSTEE 0.00 X 0 0 0 REV DARREN HUGHES TRUSTEE 0.00 X 0 0 0 CHARLES HUNNICUTT TRUSTEE 0.00 X 0 0 0 REV TOM JONES SR TRUSTEE 0.00 X 0 0 0 JEFF KEMPER TRUSTEE 0.00 X 0 0 0 JIMMY KIMSEY TRUSTEE 0.00 X 0 0 0 JOHN MOORE TRUSTEE 0.00 X 0 0 0 CHIP THOMPSON TRUSTEE 0.00 X 0 0 0 RUTH UDAIKAR TRUSTEE 0.00 X 0 0 0 SHANNON WATSON PRESIDENT/CEO 38.00 2.00 X X 197979 0 21592 SHARALENE ROPER VICE PRESIDENT/COO 38.00 2.00 X 168033 0 10352 366012 0 31944 2 0 1 0 SODEXO INC 9801 WASHINGTON BOULEVARD GAITHERSBURG MD 20878 FACILITY SERVICES PROVIDER 1369757 1 120837 33559860 707 33680697 RESIDENT RENTS 623990 3070336 3070336 DINING REVENUE 623990 1026000 1026000 OTHER PROGRAM REVENUE 900099 50301 50301 RESIDENT FEES 623990 48174 48174 4194811 213962 213962 33537720 6734000 37235105 6573511 -3697385 160489 -3536896 -3536896 34552574 4194811 0 -3322934 397956 153417 244539 993988 383193 610795 41362 15945 25417 101666 39193 62473 86961 33524 53437 119905 119905 76648 76648 143865 143865 318127 314409 3718 1548304 1544898 3406 1218530 1206345 12185 135374 128129 7245 PROGRAM EXPENSE - FOOD 1160864 1160864 REPAIRS AND MAINTENANCE 718695 712375 6320 SUPPLIES AND OTHER 99214 90699 8515 7161459 5782991 1301820 76648 X 9282 502179 512923 1105884 100000 0 55818 65004 3848 3848 36500 0 39414167 10065063 30331158 29349104 17854 28979 5250971 4396316 3523157 417950 39841511 35869264 1024252 405806 299557 477056 27625841 0 0 3287190 6429139 688905 35378789 4858957 X -983606 26600168 5446328 4410139 4462722 31010307 39841511 35869264 27391115 -843530 0 X X 0 1 X 1 0 X X 1 GEORGIA BAPTIST CONVENTION 580566245 1 1 120837 0 1 120837 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 5246328 -840500 13010 4392818 4946271 313986 13929 5246328 4718610 25 243491 15855 4946271 4167233 57051 506960 12634 4718610 4529221 -349469 12520 4167232 0.99929 0.00071 0 1 1 1587277 1587277 31361351 6476661 24884690 5253715 2634475 2619240 922189 708061 214128 289635 245866 43769 29349104 GEORGIA BAPTIST FOUNDATION ENDOWMENT FUND 4396316 F 4396316 OPERATING LEASE RIGHT-OF-USE 17260 FINANCING LEASE RIGHT-OF-USE 171645 REFUNDABLE ADVANCE 500000 688905 X 33709044 -843530 -843530 34552574 0 34552574 7161459 0 7161459 0 7161459 PART V, LINE 4: ENDOWMENT FUNDS ARE INTENDED TO PROVIDE VARIOUS SUPPORT, THROUGH ANNUAL GRANTS AND DISTRIBUTIONS, TO MINISTRIES, AND RESIDENTS IN ACCORDANCE WITH THE DONOR'S INTENTIONS. PART X, LINE 2: UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, THE COMMUNITIES ARE EXEMPT FROM TAXES ON INCOME OTHER THAN UNRELATED BUSINESS INCOME. THE COMMUNITIES HAD NO UNRELATED BUSINESS INCOME DURING THE YEAR ENDED DECEMBER 31, 2022. THE COMMUNITIES UTILIZE THE ACCOUNTING REQUIREMENTS ASSOCIATED WITH UNCERTAINTY IN INCOME TAXES USING THE PROVISIONS OF FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) ASC 740, INCOME TAXES. USING THAT GUIDANCE, TAX POSITIONS INITIALLY NEED TO BE RECOGNIZED IN THE FINANCIAL STATEMENTS WHEN IT IS MORE-LIKELY-THAN-NOT THE POSITIONS WILL BE SUSTAINED UPON EXAMINATION BY THE TAX AUTHORITIES. IT ALSO PROVIDES GUIDANCE FOR DERECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, ACCOUNTING IN INTERIM PERIODS, DISCLOSURE AND TRANSITION. AS OF DECEMBER 31, 2022, THE COMMUNITIES HAVE NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. X X X 0 0 0 0 0 0 0 0 0 SHANNON WATSON PRESIDENT/CEO 197979 0 0 0 0 0 9886 0 11706 0 219571 0 0 0 SHARALENE ROPER VICE PRESIDENT/COO 168033 0 0 0 0 0 8402 0 1950 0 178385 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B A COPY OF THE 990 IS PROVIDED TO THE CEO, THE COO, AND THE OUTSOURCED CPA FOR REVIEW AND COMMENT BEFORE THE FORM IS FILED. THE BOARD RECEIVES A COPY AFTER THE FILING. FORM 990, PART VI, SECTION B, LINE 12C ANNUAL REVIEWS ARE NOT SPECIFICALLY REQUIRED BY THE POLICY, BUT PERIODIC REVIEWS ARE REQUIRED. THE PRESIDENT DETERMINES BEFOREHAND IF POTENTIAL BOARD MEMBERS WOULD HAVE A CONFLICT OF INTEREST AND THEY ARE ELIMINATED FROM CONSIDERATION. FROM TIME TO TIME, SHOULD A POTENTIAL CONFLICT OF INTEREST ARISE AND EITHER BE BROUGHT TO THE ATTENTION OF THE BOARD BY A BOARD MEMBER OR THE PRESIDENT, THE BOARD SHALL CONSIDER THE MATTER AND VOTE TO EXCUSE THE MEMBER FROM VOTING ON THE TOPIC. FORM 990, PART VI, SECTION B, LINE 15 PREVAILING/COMPARATIVE MARKET COMPENSATION AMOUNTS ARE USED IN DETERMINING COMPENSATION. THE FULL BOARD VOTES ON THE COMPENSATION OF THE PRESIDENT/CEO. THE PRESIDENT/CEO RECOMMENDS COMPENSATION AMOUNTS FOR OTHER STAFF WHICH IS REVIEWED BY THE BOARD. FORM 990, PART VI, SECTION C, LINE 19 DOCUMENTS ARE AVAILABLE UPON REQUEST IN THE CORPORATE OFFICE. FORM 990, PART X, LINE 20, TAX-EXEMPT BONDS: EARLY REDEMPTION OF BONDS PAYABLE AND SALE OF CLAIRMONT CREST, INC. BEGINNING IN MARCH 2020, THE COMMUNITIES WERE ADVERSELY IMPACTED BY THE COVID-19 PANDEMIC, WHICH AFFECTED THE OVERALL ECONOMY. AS A RESULT, THE COMMUNITIES INCURRED A SIGNIFICANT LOSS DURING THE YEAR ENDED DECEMBER 31, 2021. AS THE COMMUNITIES WERE AT RISK OF BEING IN DEFAULT ON THEIR BONDS, THE BOARD OF TRUSTEES OF BOTH THE COMMUNITIES AND CLAIRMONT CREST, INC. LOCATION SOUGHT OUT AND OBTAINED A DONATION FROM A THIRD-PARTY, WHO SUBSEQUENT TO THE DONATION NAMED A NEW BOARD OF TRUSTEES OF CLAIRMONT CREST, INC.. THIS NEW GOVERNING BOARD IS INDEPENDENT OF THE COMMUNITIES AND THE GEORGIA BAPTIST CONVENTION, AND THE ASSETS OF EACH ORGANIZATION ARE NO LONGER JOINTLY ENCUMBERED BY ANY THIRD PARTY OBLIGATIONS. IN ORDER TO FACILITATE THIS TRANSFER ON NOVEMBER 25, 2022, THE BOND HOLDERS AGREED TO AN EARLY PAY OFF OF THE BONDS AT A 2% PREMIUM FUNDED IN LARGE PART TO THE AFOREMENTIONED DONATION. AS A RESULT OF THE BOARD TRANSFER, THE COMMUNITIES OBTAINED A CONTRIBUTION FROM THE THIRD-PARTY INVESTOR TO REDEEM THE BONDS PAYABLE. OVER THE YEARS, AN INTERCOMPANY DUE TO/FROM BALANCE ACCUMULATED BETWEEN BAPTIST RETIREMENT COMMUNITIES AND CLAIRMONT CREST. DURING THE CLOSING PROCESS, CLAIRMONT CREST FORGAVE THE INTERCOMPANY BALANCE OWED FROM BAPTIST RETIREMENT COMMUNITIES, IN EXCHANGE FOR BAPTIST RETIREMENT COMMUNITIES ASSUMING THE BONDS PAYABLE BALANCE FROM CLAIRMONT CREST. DURING THE EARLY REDEMPTION OF THE BONDS PAYABLE, THE COMMUNITIES INCURRED A LOSS ON DEBT EXTINGUISHMENT, AS DENOTED IN TRANSACTIONS LISTED IN PART VIII, STATEMENT OF REVENUE. FORM 990, PART XII, LINE 2C: THE PROCESS THE ORGANIZATION USES FOR THE OVERSIGHT OF THE AUDIT AND SELECTION OF AN INDEPENDENT ACCOUNTANT HAS NOT CHANGED FROM THE PRIOR YEAR. GEORGIA BAPTIST CONVENTION 6405 SUGARLOAF PARKWAY DULUTH GA 30097 580566245 CONVENTION OF CHURCHES GA 501(C)(3) LINE 1 N/A 0 GEORGIA BAPTIST FOUNDATION 6405 SUGARLOAF PARKWAY DULUTH GA 30097 586030046 CONVENTION OF CHURCHES GA 501(C)(3) LINE 1 N/A 0 0 0 1 1 0 0 0 0 0 0 0 1 1 1 0 1 1 1 1 GEORGIA BAPTIST CONVENTION C 120837 ACTUAL AMOUNT GEORGIA BAPTIST FOUNDATION N 4327859 ACTUAL AMOUNT GEORGIA BAPTIST FOUNDATION N 841205 ACTUAL AMOUNT