2022-11-15T12:51:36-06:00 2021-12-31 946214841 ARMANINO LLP 15950 N DALLAS PKWY 600 DALLAS TX 75248 990 2021-01-01 900475369 PRESERVATION FREEHOLD COMPANY PRES 2147252837 1500 WATERS RIDGE DRIVE 100 LEWISVILLE TX 75057 JAMES M CHANCE PRESIDENT/CEO 4052090291 2022-11-15 1 JAMES CHANCE 999009999 MATTHEW PETROSKI P00853132 9726611843 2022-11-15 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z JAMES M CHANCE 1500 WATERS RIDGE DRIVE 100 LEWISVILLE TX 75057 99735351 0 X N/A X 2009 TX PRESERVATION FREEHOLD COMPANY IS A PUBLIC CHARITY ORGANIZED FOR THE PURPOSE OF RELIEVING THE DISTRESSED THROUGH THE PROVISION OF HOUSING DESIGNED SPECIFICALLY TO ACCOMMODATE AND ADDRESS CERTAIN PHYSICAL, SOCIAL, AND CIVIC NEEDS OF THE ELDERLY, WHILE PROMOTING THE CONTINUED DIGNITY AND WELL-BEING OF ITS RESIDENTS. THE CORPORATION IS ORGANIZED AND SHALL BE OPERATED EXCLUSIVELY FOR CHARITABLE AND EDUCATIONAL PURPOSES WITHIN THE MEANING OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. WITHIN THE SCOPE OF THE FOREGOING PURPOSES, BUT NOT BY WAY OF LIMITATION THEREOF, THE CORPORATION SHALL CARRY OUT THESE PURPOSES PRIMARILY BY OWNING AND OPERATING, EITHER DIRECTLY OR THROUGH AFFILIATED ENTITIES, NONPROFIT HEALTH CARE FACILITIES AND SENIOR LIVING COMMUNITIES. 4 3 3859 3 0 0 208379 6771272 11442750 92723245 0 3764 55392 237070 11706521 99735351 0 0 0 0 4420053 45748661 0 0 0 8399691 57348359 12819744 103097020 -1113223 -3361669 35490463 599345935 39109123 606326264 -3618660 -6980329 X PRESERVATION FREEHOLD COMPANY IS A PUBLIC CHARITY ORGANIZED FOR THE PURPOSE OF RELIEVING THE DISTRESSED THROUGH THE PROVISION OF HOUSING DESIGNED SPECIFICALLY TO ACCOMMODATE AND ADDRESS CERTAIN PHYSICAL, SOCIAL, AND CIVIC NEEDS OF THE ELDERLY, WHILE PROMOTING THE CONTINUED DIGNITY AND WELL-BEING OF ITS RESIDENTS. THE CORPORATION IS ORGANIZED AND SHALL BE OPERATED EXCLUSIVELY FOR CHARITABLE AND EDUCATIONAL PURPOSES WITHIN THE MEANING OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. WITHIN THE SCOPE OF THE FOREGOING PURPOSES, BUT NOT BY WAY OF LIMITATION THEREOF, THE CORPORATION SHALL CARRY OUT THESE PURPOSES PRIMARILY BY OWNING AND OPERATING, EITHER DIRECTLY OR THROUGH AFFILIATED ENTITIES, NONPROFIT HEALTH CARE FACILITIES AND SENIOR LIVING COMMUNITIES. 1 0 86546582 92960315 PRESERVATION FREEHOLD COMPANY IS A PUBLIC CHARITY ORGANIZED FOR THE PURPOSE OF RELIEVING THE DISTRESSED THROUGH THE PROVISION OF HOUSING SPECIFICALLY TO ACCOMMODATE AND ADDRESS CERTAIN PHYSICAL, SOCIAL, AND DESIGNED SPECIFICALLY TO ACCOMMODATE AND ADDRESS CERTAIN PHYSICAL, SOCIAL, AND CIVIC NEEDS OF THE ELDERLY, WHILE PROMOTING THE CONTINUED RELIEVING THE DISTRESSED THROUGH THE PROVISION OF HOUSING DESIGNED CIVIC NEEDS OF THE ELDERLY, WHILE PROMOTING THE CONTINUED DIGNITY AND WELL-BEING OF ITS RESIDENTS. THE ORGANIZATION CARRIES OUT THESE PURPOSES BY OWNING AND OPERATING, EITHER DIRECTLY OR THROUGH AFFILIATED ENTITIES, NONPROFIT HEALTH CARE FACILITIES AND SENIOR LIVING COMMUNITIES. 86546582 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 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 1 1 1 1 0 0 1 339 0 1 3859 1 0 0 0 0 0 0 0 0 0 0 0 0 X 4 3 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 OK X JAMES M CHANCE 2147252837 1500 WATERS RIDGE DRIVE 100 LEWISVILLE TX 75057 AMY JAMESON FACILITY EMPLOYEE 52.58 X 147045 0 5324 JUDY GETTINGS FACILITY EMPLOYEE 61.76 X 131398 0 438 LEEANN R BOONE FACILITY EMPLOYEE 74.94 X 130820 0 0 KELLIE R WHITEFIELD FACILITY EMPLOYEE 53.71 X 121228 0 0 VICKIE KING FACILITY EMPLOYEE 47.06 X 118133 0 438 JAMES CHANCE PRESIDENT/CEO 30.00 X X 95144 0 4476 THOMAS E LANGDON SECRETARY/TREASURER 1.00 X X 0 0 0 DANA ARNETTE DIRECTOR 1.00 X 0 0 0 DARRELL MCGEHEE DIRECTOR 1.00 X 0 0 0 743768 0 10676 8 0 1 0 STONEGATE SENIOR LIVING LLC 1500 WATERS RIDGE DRIVE STE 200 LEWISVILLE TX 75057 MANAGEMENT COMPANY 6902216 REHAB PRO 17521 US HWY 69 SOUTH STE 120 TYLER TX 75703 THERAPY SERIVCES 4238150 HEALTHCARE SERVICES GROUP P O BOX 829677 PHILDELPHIA PA 19182 LAUNDRY & HOUSEKEEPING SERVICES 568478 SHIFTKEY LLC 14800 FRY ROAD 2ND FLOOR FORT WORTH TX 76155 NURSE STAFFING SERVICE 488853 FIRST CALL OF OKLAHOMA CITY PO BOX 1857 OWASSO OK 74055 NURSE STAFFING SERVICE 366393 16 6769851 1421 6771272 ROOM & BOARD 624200 65207985 65207985 MEDICAL SERVICES 624100 16064902 16064902 RENTAL INCOME 531110 8632493 8632493 MANAGEMENT FEES 561000 2646080 2646080 COVID TESTING 621500 171785 171785 92723245 3764 3764 MISCELLANEOUS INCOME 900099 237070 237070 237070 99735351 92960315 0 3764 X 103219 103219 40238185 37534709 2703476 1930464 1740344 190120 3476793 3337698 139095 7291501 7291501 136843 136843 388799 388799 12659306 12659306 83487 83487 882352 756474 125878 780883 780883 9880557 9245274 635283 38902 35033 3869 39058 39058 10144166 10144166 4915261 4915261 2450552 2450552 MISCELLANEOUS EXPENSES 3867041 3867041 DIETARY 1772762 1772762 BAD DEBT EXPENSE 1018670 1018670 NURSING 595177 595177 403042 403042 103097020 86546582 16550438 0 24048 22937628 77850 65725882 3821521 13634553 1082843 1862022 493932997 10765677 24486143 483167320 5998058 12018530 35490463 599345935 7390918 25276585 1330350 707911 90000 27910000 574083045 2387855 6258723 39109123 606326264 X 0 0 0 0 -3618660 -6980329 -3618660 -6980329 35490463 599345935 -3361669 0 X 0 0 0 X 66667 208379 6771272 7046318 46594 -82091 2581312 11442750 92723245 106711810 46594 -82091 2647979 11651129 99494517 113758128 0 0 0 113758128 91 3764 3855 91 3764 3855 55392 237070 292462 46594 -82091 2648070 11706521 99735351 114054445 0.99740 0.99520 0.00000 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 29045784 29045784 448295755 8644909 439650846 3862989 3754 3859235 12361919 2117014 10244905 366550 366550 483167320 DUE TO OWNER 68602 CAPITAL LEASES 4678702 INSURANCE 1270357 COST REPORT & PIP PAYMENTS 241062 6258723 X X X 0 0 0 0 0 0 0 0 0 AMY JAMESON FACILITY EMPLOYEE 147045 0 0 0 0 0 0 0 5324 0 152369 0 0 0 FORM 990, PART III, LINE 2 SANCTUARY LTC, LLC (THE "COMPANY"), A TEXAS LIMITED LIABILITY COMPANY FORMED ON SEPTEMBER 23, 2019 AS A WHOLLY OWNED SUBSIDIARY OF PRESERVATION FREEHOLD COMPANY (THE "PARENT"), A DELAWARE NONPROFIT CORPORATION. THE COMPANY WAS ORGANIZED TO BE EXCLUSIVELY OPERATED FOR CHARITABLE PURPOSES WITHIN THE LONG-TERM CARE COMMUNITY. THE COMPANY BEGAN OPERATIONS IN 2020, ASSISTING WITH THE OPERATION OF SIX SKILLED NURSING FACILITIES IN ANTICIPATION OF A PURCHASE OPTION. ON SEPTEMBER 24, 2021 THE COMPANY CLOSED AN ASSET PURCHASE ASSOCIATED WITH TWENTY-FOUR SKILLED NURSING FACILITIES ("SNFS") AND TWO ASSISTED LIVING FACILITIES ("ALFS") (THE "PROJECT") LOCATED IN TEXAS AND OKLAHOMA. EACH FACILITY'S OPERATIONS WERE PLACED IN ITS OWN WHOLLY OWNED LIMITED LIABILITY COMPANY WITH ALL TWENTY-SIX REAL ESTATE FACILITIES HELD IN THE COMPANY. THE PROJECT WAS FINANCED BY THE ISSUANCE OF FOUR SERIES 2021 SENIOR LIVING REVENUE BONDS ISSUED BY NEW HOPE CULTURAL EDUCATION FACILITIES FINANCE CORPORATION ("NEW HOPE"). THE PROCEEDS FROM THE SALE OF THREE OF THE SERIES WERE LOANED TO THE COMPANY TO FUND THE CASH PORTION OF THE PURCHASE, THE FOURTH SERIES WAS ACCOUNTED FOR AS SELLER FINANCING. AT APPROXIMATELY THE SAME TIME, THE COMPANY BEGAN OPERATING AN ADDITIONAL ALF. THE ALF IS OWNED BY A SUBSIDIARY OF THE PARENT COMPANY. THE COMPANY PROVIDES INPATIENT HEALTH CARE, THERAPY, REHABILITATION AND OTHER SENIOR LIVING SERVICES TO PATIENTS OF THE FACILITIES. BECAUSE OF THESE NEW OPERATIONS, PRESERVATION FREEHOLD COMPANY'S REVENUE AND ASSETS INCREASED SIGNIFICANTLY IN TAX YEAR 2021. FORM 990, PART VI, SECTION B, LINE 11B THE ORGANIZATION PROVIDES A COMPLETE COPY OF THE FORM 990 TO ALL MEMBERS OF ITS GOVERNING BODY BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 12C THE PRESIDENT, AFFECTED DIRECTOR, OR PERSON WITH KNOWLEDGE DISCLOSES TO THE BOARD THE POTENTIAL CONFLICTS, DESCRIBES THEM THOROUGHLY, EXPLAINS PERTINENT CONTEXT AND SITUATION DISINTERESTED DIRECTORS THEN CONSIDER AND VOTE ON WHETHER TO PROCEED DESPITE THE CONFLICT. FORM 990, PART VI, SECTION B, LINE 15 ON MARCH 13, 2020, THE BOARD APPROVED FORMATION OF AN EXECUTIVE EVALUATION AND COMPENSATION COMMITTEE TO EVALUATE PERFORMANCE, OBTAIN RESEARCH AND INFORMATION, AND MAKE RECOMMENDATIONS CONCERNING COMPENSATION OF DIRECTORS, OFFICERS AND OTHER HIGHLY COMPENSATED EMPLOYEES OR CONSULTANTS ACCORDING TO THE APPROVED CORPORATION COMPENSATION POLICY. FORM 990, PART VI, SECTION C, LINE 19 THE CEO MAKES THEM AVAILABLE UPON REQUEST THEY ARE STORED ELECTRONICALLY IN THE CLOUD AND AVAILABLE FOR IMMEDIATE DOWNLOAD AND PRINTING THEY ARE ALSO AVAILABLE IN HARD COPY AT THE COMPANY'S COUNSEL'S OFFICE. FORM 990, PART IX, LINE 11G ANCILLARY SERVICES: PROGRAM SERVICE EXPENSES 8,020,259. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 8,020,259. DIETARY CONSULTING: PROGRAM SERVICE EXPENSES 243,571. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 243,571. NURSING CONTRACT LABOR: PROGRAM SERVICE EXPENSES 3,524,474. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 3,524,474. LAUNDRY SERVICES: PROGRAM SERVICE EXPENSES 233,462. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 233,462. TRANSPORTATION & ACTIVITIES CONTRACTORS: PROGRAM SERVICE EXPENSES 637,540. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 637,540. 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