Nonprofit · EIN 31-1644805
SAMARITAN HOUSING FOUNDATION INC
Tax-exempt · CARY, NC 27513
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $27,836,580 | $32,815,986 | -$4,979,406 | $325,212,213 | $425,575,075 | -$100,362,862 |
| December 31, 2023 | 990 | $18,465,739 | $22,582,981 | -$4,117,242 | $317,862,620 | $412,649,958 | -$94,787,338 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $105,418
- Program service revenue
- $23,696,911
- Investment income
- $4,026,151
- Net rental income
- $8,100
- Net gain from sales of assets
- $827,129
- Other revenue
- $8,100
Expenses
- Grants and similar amounts paid
- $1,198,155
- Compensation of officers, directors and key employees
- $825,518
- Other salaries and wages
- $5,355,393
- Salaries, compensation and benefits (total)
- $7,482,485
- Professional fundraising fees
- $0
- Legal fees
- $961,234
- Accounting fees
- $97,575
- Occupancy
- $1,221,242
- Travel
- $168,326
- Depreciation
- $6,292,123
- Program services (functional)
- $28,462,784
- Management and general (functional)
- $4,353,202
Balance sheet and other
- Total assets, start of year
- $317,862,620
- Total assets, end of year
- $325,212,213
- Total liabilities, end of year
- $425,575,075
- Net assets, end of year
- -$100,362,862
- Land, buildings and equipment
- $253,076,732
- Publicly traded securities
- $62,489,540
- Net assets without donor restrictions
- -$100,943,202
- Net assets with donor restrictions
- $580,340
- Gross receipts
- $47,450,232
- Employees
- 346
- Volunteers
- 20
- State of legal domicile
- NC
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| W DERRICK MOORE | FORMER EXECUTIVE DIRECTOR Officer | 40 | $288,987 | $9,208 |
| STANLEY G BRADING | PRESIDENT Trustee or director, Officer | 25 | $286,072 | $2,472 |
| KENNETH L BULLOCK | CFO Officer | 40 | $206,573 | $25,650 |
| ALLIE LIGAY | DIRECTOR OF MARKETING Highest-paid employee | 40 | $212,284 | $10,266 |
| SUE COTTON | SALES MANAGER Highest-paid employee | 40 | $153,159 | $10,099 |
| SIVAPRASAD PARNAM | NURSING HOME ADMINISTRATOR Highest-paid employee | 40 | $123,490 | $8,256 |
| SCOTT EVANS | ENVIRONMENTAL SERVICE DIRECTOR Highest-paid employee | 40 | $101,928 | $19,116 |
| MATTHEW T TOWLER | EXECUTIVE DIRECTOR Officer | 40 | $43,886 | $3,067 |
| JAMES PIERCE | DIRECTOR Trustee or director | 2 | $10,334 | $0 |
| TOM BEEBE | DIRECTOR Trustee or director | 2 | $10,000 | $0 |
| LINDA COLEMAN | DIRECTOR Trustee or director | 2 | $9,300 | $0 |
| MACK LEATH | DIRECTOR Trustee or director | 2 | $9,000 | $0 |
| CHARLES NORMAN | DIRECTOR Trustee or director | 2 | $8,000 | $0 |
| DARRYL MILLS | SPECIAL ADVISOR Trustee or director | 2 | $5,950 | $0 |
| MARK HEWITT | DIRECTOR Trustee or director | 2 | $0 | $0 |
1 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| ROGER HEISER | SPECIAL ADVISOR Trustee or director | 2 | $0 |
990 for the year ended December 31, 2023: 14 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Stanley G Brading | President Officer | 25 | $285,224 | $24,401 |
| W Derrick Moore | Executive Director Officer | 40 | $192,197 | $3,592 |
| Kenneth L Bullock | CFO Officer | 40 | $167,392 | $13,963 |
| Allie Ligay | Director of Marketing Highest-paid employee | 40 | $154,435 | $9,185 |
| Siva Parnam | Administrator Highest-paid employee | 40 | $114,591 | $7,191 |
| Paula Williams | Director of Nursing Highest-paid employee | 40 | $101,863 | $0 |
| Darryl Mills | Special Advisor Trustee or director | 2 | $10,200 | $0 |
| James Pierce | Director Trustee or director | 4 | $10,000 | $0 |
| Tom Beebe | Director Trustee or director | 2 | $9,050 | $0 |
| Mack Leath | Director Trustee or director | 2 | $8,950 | $0 |
| Charles Norman | Director Trustee or director | 2 | $8,000 | $0 |
| Linda Coleman | Director Trustee or director | 2 | $6,850 | $0 |
| Charles Henderson | Director Trustee or director | 2 | $2,250 | $0 |
| Marc Hewitt | Director Trustee or director | 2 | $2,250 | $0 |
Address and contacts
- Address (IRS master file)
- 17001 SEARSTONE DR, CARY, NC 27513-8378
- Principal officer (990 for 2024)
- Stanley Brading, 17001 Searstone Drive, Cary, NC 27513
- Signed the 990
- Stanley Brading, President
- Phone
- (866) 261-1814
- Website
- www.searstone.com
- Return prepared by
- Forvis Mazars LLP
Mission
LIFE CARE FOR RESIDENTS OF SIXTY-TWO PLUS (62+) YEARS OF AGE, WHILE EMPHASIZING AN ACTIVE LIFESTYLE, INDIVIDUAL INDEPENDENCE, PERSONAL DIGNITY, DESIGNED TO MEET THEIR SPECIAL NEEDS FOR HOUSING, HEALTHCARE, AND FINANCIAL SECURITY.
Program accomplishments
- Searstone Retirement Community is made up of 318 living units for 489 people and 49 beds of skilled nursing care, 29 for assisted living and 14 for memory care. Services such as meals, housekeeping, maintenance, activities, transportation, and nursing services are available. We offer physical, occupational and speech therapy for those residents who can benefit from these programs. We have a food service program which provides meals to residents, their guests and our staff. Activities are offered in each level of care depending on the level of activities suitable for that level of care, from going out to public programs such as theater productions to symphonies, or having in-house events comprised of theme parties and games. Our nursing services cover the entire campus and range from emergency nursing services to 24-hour nursing services.Expenses $28,462,784 · grants $1,198,155 · revenue $23,696,911
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Check at the IRS |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 31-1644805
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (509(a)(2))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2020
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Human services (P75)
- Assets (IRS master file)
- $317,340,111
- Income (IRS master file)
- $41,194,811
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $27,836,580 | $32,815,986 | $325,212,213 | XML |
| 990 | December 2023 | $18,465,739 | $22,582,981 | $317,862,620 | XML |
| 990 | December 2022 | $14,492,637 | $20,325,311 | $316,589,034 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 31-1644805).
Questions about SAMARITAN HOUSING FOUNDATION INC
- What is the EIN of SAMARITAN HOUSING FOUNDATION INC?
- The employer identification number (EIN) of SAMARITAN HOUSING FOUNDATION INC is 31-1644805.
- Is SAMARITAN HOUSING FOUNDATION INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2020.
- Are donations to SAMARITAN HOUSING FOUNDATION INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does SAMARITAN HOUSING FOUNDATION INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of SAMARITAN HOUSING FOUNDATION INC due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did SAMARITAN HOUSING FOUNDATION INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of SAMARITAN HOUSING FOUNDATION INC?
- The 990 for the year ended December 31, 2024 names Stanley Brading.
- Who are the officers and directors of SAMARITAN HOUSING FOUNDATION INC?
- The 990 for the year ended December 31, 2024 lists 16 people; 14 received compensation from the organization, the highest $288,987 (W DERRICK MOORE, FORMER EXECUTIVE DIRECTOR).
- How much revenue does SAMARITAN HOUSING FOUNDATION INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $27,836,580, expenses of $32,815,986 and total assets of $325,212,213 at year end.
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