2025-11-12T11:20:09-06:00 2024-12-31 420714325 RSM US LLP 6 S Patterson Blvd Dayton OH 45402 990 2024-10-01 043604839 Bethany Methodist Corporation BETH 8479981118 2601 Chestnut Avenue 3310 Glenview IL 60026 Vera Lampe CEO 8479981118 2025-11-07 1 1 Karen O Crim P00368385 9372980201 2025-11-07 2024 2025-03-06 01:10:19Z Chestnut Square at the Glen Vera Lampe 2601 Chestnut Avenue 3310 Glenview IL 60026 561551 0 X www.chestnutsquare.info X 2000 IL Bethany Methodist Corporation provides exceptional senior community living and health care that promotes holistic well-being for residents and clients through: Chestnut Square at The Glen and Partners in Health Care. Bethany Methodist Corporation is a faith-based organization affiliated with the United Methodist Church. The organization is guided by the values of compassion, advocacy, trust, teamwork and transparency. 9 8 161 8 0 0 280947 333679 8106922 215647 160168 12225 596562 0 9144599 561551 0 0 0 0 4304967 100662 0 0 0 4220590 226310 8525557 326972 619042 234579 25583153 22510639 42017084 37634385 -16433931 -15123746 X Bethany Methodist Corporation provides exceptional senior community living and health care that promotes holistic well-being for residents and clients through: Chestnut Square at The Glen and Partners in Health Care. Bethany Methodist Corporation is a faith-based organization affiliated with the United Methodist Church. The organization is guided by the values of compassion, advocacy, trust, teamwork and transparency. 0 0 254515 215647 Independent Seniors Residential Mission: BMC is faithful to its non-profit, faith-based foundation and its continuing commitment as a provider of quality residential, hospitality, and ancillary programs for independent older adults. BMC's full-service, maintenance-free apartments are designed for active seniors, and are complemented by a broad range of amenities, including a library, inter-faith chapel, fellowship areas, and media room. Along with housing services, professional staff ensure that other residents' interests and needs are met, including: opportunities for social interaction with peers, transportation, inter-generational exchanges, expression of religious beliefs, and occasions to contribute their time and talents as volunteers. 254515 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 0 1 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 0 0 0 1 21 0 1 161 1 0 0 0 0 0 0 0 0 0 0 0 0 X 9 8 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X Vera Lampe 8479981118 2601 Chestnut Avenue 3310 Glenview IL 60026 Vera Lampe President/CEO 39.00 1.00 X X 195287 0 3166 Jennifer Christy Chair 1.00 1.00 X X 0 0 0 Bruce Balfe Secretary/Treasurer 1.00 1.00 X X 0 0 0 Scort Christy Director 1.00 1.00 X 0 0 0 Maureen Farrell Director 1.00 1.00 X 0 0 0 Janice Maloney Director 1.00 1.00 X 0 0 0 Jerry Marx Director 1.00 1.00 X 0 0 0 Keith Reed Director 1.00 1.00 X 0 0 0 Jane Wuellner Director 1.00 1.00 X 0 0 0 Renee Bellew Dir. of Sales and Marketing 40.00 0.00 X 197455 0 28163 Jackie Nieves Director of Human Resources 40.00 0.00 X 109225 0 13977 Sunny Lopez Former President/CEO 0.00 0.00 X 44108 0 4899 546075 0 50205 3 1 1 0 Core Exteriors LLC 2000 Center Drive Suite D219 Hoffman Estates IL 60192 Construction services 843833 Gordon Food Service PO Box 88029 Chicago IL 60680 Catering 561039 Toms Price Co Inc 725 Milwaukee Avenue Lincolnshire IL 60069 Furnishing services 388943 Grubbs Mechanical PO Box 310 Bristol WI 53104 Maintenance services 290059 Trend Painting & Decorating Inc 1210 Remington Rd Schaumburg IL 60173 Maintenance services 194564 5 333679 333679 Resident Services 900099 94155 94155 Resident Fees 900099 74974 74974 Patient Service Revenu 900099 46518 46518 215647 12225 12225 561551 215647 0 12225 48823 36617 12206 46087 34565 11522 5752 4314 1438 19534 19534 16929 12697 4232 13751 10313 3438 5821 4366 1455 35368 26526 8842 17631 17631 20296 12178 8118 Food 93738 93738 Dues and Subscriptions 2051 1538 513 Licenses and Taxes 43 32 11 1148 1148 326972 254515 72457 0 1046254 864337 3814116 3975003 192520 165565 104506 152052 43493892 26157432 16745783 17336460 3679974 17222 25583153 22510639 566527 777082 303628 610300 41146929 36247003 42017084 37634385 X -16452511 -16266623 18580 1142877 -16433931 -15123746 25583153 22510639 X 234579 -127550 1203156 X 0 1 X 1 0 X 533894 32782 36244 280947 333679 1217546 7142660 6627742 7097129 8106922 215647 29190100 7676554 6660524 7133373 8387869 549326 30407646 5000 7500 12500 0 5000 7500 12500 30395146 32023 33795 57123 160168 12225 295334 32023 33795 57123 160168 12225 295334 83 596562 596645 7708577 6694402 7190496 9144599 561551 31299625 0.97110 0.97520 0.00940 0.00910 X Schedule A, Part III, Line 12, Explanation of Other Income: Other Income - 2021 Amount: $ 83. Insurance Proceeds - 2023 Amount: $ 596,562. Schedule A, Part III, Short Year Explanation: Bethany Methodist Corporation changed from a September 30 fiscal year end to a calendar year end during 2024. Therefore, the fiscal year end of 9/30/2021 has been presented in Column (A) 2020, the fiscal year end of 9/30/2022 has been presented in Column (B) 2021, the fiscal year end of 9/30/2023 has been presented in Column (C) 2022, the fiscal year end of 9/30/2024 has been presented in Column (D) 2023, and the short year period of 10/1/2024 to 12/31/2024 has been presented in Column (E) 2024. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 184487 111 184598 175702 8785 184487 167336 8366 175702 159368 7968 167336 151779 7589 159368 0.00000 0.50610 0.49390 0 0 4333682 4333682 35444386 24706725 10737661 1684620 1450707 233913 2031204 2031204 17336460 Refundable Entrance Fees 36244036 Workers' Compensation Reserve 2967 36247003 X Part V, Line 4: To provide stipends to seminary students learning at Bethany about ministry with older adults. Part X, Line 2: The Corporation is exempt from income taxes on income from related activities under Section 501(c)(3) of the Internal Revenue Code (the Code) and corresponding state tax law. Income earned in furtherance of the Corporation's tax-exempt purpose is exempt from federal and state income taxes. The Code provides for taxation of unrelated business income under certain circumstances. The Corporation has no material unrelated business income; however, such status is subject to final determination upon examination of the related income tax returns by the appropriate taxing authority. Accordingly, no provision has been made for federal or state income taxes. Under FASB ASC Subtopic 740, Income Taxes, the Corporation must recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the applicable taxing authorities based on the technical merits of the position. The tax benefits recognized in the consolidated financial statements from such a position are measured based on the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement. ASC Subtopic 740-10 also provides guidance of derecognition, classification, interest and penalties on income taxes and accounting in interim periods and requires increased disclosure. There were no uncertain tax positions identified as of December 31, 2024. The Corporation does not expect the total amount of unrecognized tax benefits to significantly change in the next 12 months. Tax returns filed by the Corporation are subject to examination by the Internal Revenue Service (IRS) up to three years from the date the return was filed. The returns no longer subject to examination are for tax years ended before December 31, 2021. The Corporation recognizes interest and/or penalties, if any, related to income tax matters in income tax expense. The Corporation did not have any amounts accrued for interest and penalties at December 31, 2024. X 1 1 X X X 0 0 0 0 0 0 0 0 0 Renee Bellew Dir. of Sales and Marketing 197455 0 0 0 0 0 2534 0 25629 0 225618 0 0 0 Vera Lampe President/CEO 195287 0 0 0 0 0 0 0 3166 0 198453 0 0 0 Sunny Lopez Former President/CEO 44108 0 0 0 0 0 719 0 4180 0 49007 0 0 0 Part I, Line 1a Sunny Lopez, Former President, received a housing allowance during the year. The item was treated as nontaxable compensation. Form 990, Part VI, Section A, line 1a The Executive Committee shall include the officers of the Corporation and the Chief Executive Officer. The Executive Committee shall have the authority of the Board of Directors between meetings of the Board of Directors. The minutes of the Executive Committee shall become a part of the official record of the Board of Directors. It shall be the duty of the Executive Committee to see that all rules and regulations adopted by the Board of Directors are faithfully executed by committees and administrative officers of the Corporation. The Executive Committee may recommend policies and new rules and regulations to the Board of Directors for their review and acceptance. The Executive Committee shall recommend to the Board of Directors the salary and benefits of the Chief Executive Officer, provided however, the Chief Executive Officer shall not participate in any such deliberations or vote. The Executive Committee, in consultation with the Chief Executive Officer, shall recommend to the Board of Directors the reimbursement for expenses, if any, to be provided to the officers of the Corporation. Form 990, Part VI, Section B, line 11b The completed Form 990 is reviewed by management and a copy of the Form 990 is provided to the governing body prior to filing the return with the IRS. Form 990, Part VI, Section B, line 12c Members of the Board of Directors, Corporate Officers and employees are required to avoid all situations that may, in fact or appearance, present as a conflict of interest. Corporate bylaws require that all actual, potential, direct, apparent, and indirect conflicts be disclosed in full and in writing. An annual, formal, and written disclosure statement is completed by all members of the board, corporate officers, and key employees. Board members who believe they may be involved in a conflict of interest related to a given issue are required to abstain from voting or taking other official action related to that issue. Corporate officers and key employees who believe they may be involved in a conflict of interest related to a particular issue will recuse themselves from taking any official action related to that issue. The Board of Directors retains responsibility for establishing any additional guidelines necessary to resolve a conflict of interest. Policies regarding potential conflicts of interest are included in the regularly-scheduled, formal review conducted by the Executive Committee and Leadership Team. Form 990, Part VI, Section B, line 15 The Executive Committee of the Board of Directors, led by the Chair of the Board of Directors reviews and approves annual objectives established by the Chief Executive Officer and Leadership Team. These objectives are presented to the Board on an annual basis for their approval. The Chief Executive Officer's salary was determined after examination of comparability data and ensuring that compensation was granted in compliance with regulatory and ethical standards as well as industry norms. Recommendations for compensation are reviewed on an annual basis and adjusted in accordance with job expectations and successful completion of agreed upon goals and objectives. Led by the Chief Executive Officer, key employees establish annual line-of-site goals and objectives aligned with the goals and objectives approved on an annual basis for the Chief Executive Officer by the Board of Directors. The Human Resources Department is responsible for examining comparability data and ensuring that compensation is granted in compliance with regulatory and ethical standards as well as industry norms. Salary ranges are established and approved by the Board of Directors through the budget process. Recommendations for compensation are reviewed on an annual basis and adjusted in accordance with job expectations and successful completion of agreed upon goals and objectives. Form 990, Part VI, Section C, line 19 These documents are available to the general public upon request for the period of time in accordance with internal revenue code section 6104(d). Form 990, Part XI, line 9: Transfer from Bethany Homes and Methodist Hospital 1,203,156. Bethany Homes and Methodist Hospital 2601 Chestnut Avenue Suite 3310 Glenview IL 60026 362012788 Health Care Provider IL 501(c)(3) Line 10 N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1