Nonprofit · EIN 62-1106224
PSALMS INC
Tax-exempt · MEMPHIS, TN 38115
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $28,714,864 | $28,249,788 | $465,076 | $66,748,555 | $90,731,187 | -$23,982,632 |
| December 31, 2023 | 990 | $25,994,892 | $30,654,281 | -$4,659,389 | $71,757,299 | $96,047,518 | -$24,290,219 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $3,040,552
- of which government grants
- $3,040,552
- Program service revenue
- $24,873,720
- Investment income
- $746,638
- Net rental income
- $45,840
- Net gain from sales of assets
- $30,984
- Net income from sales of inventory
- $8,114
- Other revenue
- $53,954
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $52,632
- Other salaries and wages
- $8,803,985
- Salaries, compensation and benefits (total)
- $9,950,910
- Professional fundraising fees
- $0
- Legal fees
- $97,456
- Accounting fees
- $143,968
- Occupancy
- $1,515,340
- Travel
- $51,376
- Depreciation
- $3,888,949
- Program services (functional)
- $22,792,761
- Management and general (functional)
- $5,457,027
Balance sheet and other
- Total assets, start of year
- $71,757,299
- Total assets, end of year
- $66,748,555
- Total liabilities, end of year
- $90,731,187
- Net assets, end of year
- -$23,982,632
- Land, buildings and equipment
- $42,805,273
- Publicly traded securities
- $361,821
- Net assets without donor restrictions
- -$23,982,632
- Gross unrelated business income
- $590
- Gross receipts
- $29,220,550
- Employees
- 391
- Volunteers
- 76
- Year formed
- 1983
- State of legal domicile
- TN
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 |
|---|---|---|---|
| Anna R Bradford | Nursing Home/Assisted Living Highest-paid employee | 40 | $117,314 |
| Audie Marlar | Director of Medical Services Highest-paid employee | 40 | $108,404 |
| Trudy Schenkenberger | Director of Human Resources Highest-paid employee | 40 | $106,768 |
| Michael A Rayder | Director of Grounds & Landscaping Highest-paid employee | 40 | $102,647 |
| Barry N Rossell | Licensed Practical Nurse Highest-paid employee | 40 | $102,113 |
| Rudolf W Herzke | President Trustee or director, Officer | 22 | $52,632 |
| Dr James Latimer | Chairman Trustee or director, Officer | 1 | $18,030 |
| Larry Braughton | Secretary/Treasurer (Beg 04/2024) Trustee or director, Officer | 22 | $0 |
| Berry Terry | Secretary/Treasurer (Until 04/2024) Trustee or director, Officer | 22 | $0 |
| Jim Ethridge | Director Trustee or director | 1 | $0 |
| Linda Harrington | Director Trustee or director | 1 | $0 |
| Mary Ann Hodges | Director Trustee or director | 1 | $0 |
| Rusty E Linkous | Director Trustee or director | 1 | $0 |
| Boyd Rhodes Jr | Director Trustee or director | 1 | $0 |
| Michael J Brown Jr | Executive Director Officer | 40 | $0 |
990 for the year ended December 31, 2023: 14 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| SHAPELL L GATES | REGISTERED NURSE Highest-paid employee | 40 | $119,059 | $2,756 |
| BARRY N ROSSELL | LICENSED PRACTICAL NURSE Highest-paid employee | 40 | $115,548 | $5,690 |
| MICHAEL A RAYDER | DIRECTOR OF GROUNDS Highest-paid employee | 40 | $111,189 | $1,180 |
| ANNA R BRADFORD | NURSING HOME ADMINISTRATOR Highest-paid employee | 40 | $109,444 | $671 |
| MARK SIMPSON | DIRECTOR OF CULINARY Highest-paid employee | 40 | $105,975 | $408 |
| RUDOLF W HERZKE | PRESIDENT Trustee or director, Officer | 22 | $52,811 | $0 |
| BERRY E TERRY | SECRETARY/TREASURER Officer | 1 | $27,570 | $0 |
| BOYD RHODES JR | DIRECTOR Trustee or director | 1 | $18,045 | $0 |
| DR JAMES LATIMER | CHAIRMAN Trustee or director, Officer | 1 | $17,265 | $0 |
| LARRY BRAUGHTON | SECRETARY/TREASURER Trustee or director, Officer | 22 | $0 | $0 |
| JIM ETHRIDGE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| LINDA HARRINGTON | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MARY ANN HODGES | DIRECTOR Trustee or director | 1 | $0 | $0 |
| RUSTY E LINKUS | DIRECTOR Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 3535 KIRBY PARKWAY, MEMPHIS, TN 38115-3721
- Principal officer (990 for 2024)
- Rudolf Herzke, 3535 Kirby Parkway, Memphis, TN 38115
- Signed the 990
- Rudolf Herzke, President
- Phone
- (901) 365-3665
- Website
- www.kirbypines.com
- Return prepared by
- Eide Bailly LLP
Mission
To faithfully serve our residents by offering them security for life, excellence in all we do, respect for individual differences and a vibrant lifestyle in an enriching environment.
Program accomplishments
- In 2024 PSALMS, Inc. provided independent living services to residents in their apartments and garden homes.Expenses $14,079,828 · revenue $19,507,628
- In 2024 PSALMS, Inc. provided assisted living care to residents.Expenses $1,657,822 · revenue $1,413,153
- In 2024 PSALMS, Inc. provided long term care to residents.Expenses $7,055,111 · revenue $3,952,939
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 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 62-1106224
- 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
- 1982
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Human services (P750)
- Assets (IRS master file)
- $66,748,555
- Income (IRS master file)
- $29,220,550
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $28,714,864 | $28,249,788 | $66,748,555 | XML |
| 990 | December 2023 | $25,994,892 | $30,654,281 | $71,757,299 | XML |
| 990 | December 2022 | $26,304,402 | $30,249,437 | $74,159,973 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | 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 62-1106224).
Questions about PSALMS INC
- What is the EIN of PSALMS INC?
- The employer identification number (EIN) of PSALMS INC is 62-1106224.
- Is PSALMS INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1982.
- Are donations to PSALMS INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does PSALMS 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 PSALMS INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did PSALMS 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 PSALMS INC?
- The 990 for the year ended December 31, 2024 names Rudolf Herzke.
- Who are the officers and directors of PSALMS INC?
- The 990 for the year ended December 31, 2024 lists 15 people; 7 received compensation from the organization, the highest $117,314 (Anna R Bradford, Nursing Home/Assisted Living).
- How much revenue does PSALMS INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $28,714,864, expenses of $28,249,788 and total assets of $66,748,555 at year end.
Other nonprofits in MEMPHIS
- MEMPHIS GOODWILL INC EIN 26-3445007 · last filed 990 for 2025
- TREZEVANT EPISCOPAL HOME EIN 23-7363212 · last filed 990 for 2025
- SHELBY RESIDENTIAL AND VOCATIONAL SERVICES INC EIN 62-0854890 · last filed 990 for 2025
- METHODIST LE BONHEUR COMMUNITY OUTREACH EIN 62-1251288 · last filed 990 for 2024
- MERITAN INC EIN 62-0674655 · last filed 990 for 2025
- WORKFORCE MIDSOUTH INC EIN 85-0869795 · last filed 990 for 2023
- METROPOLITAN INTER-FAITH ASSOC EIN 62-0803601 · last filed 990 for 2025
- FRIENDS FOR LIFE CORPORATION EIN 62-1511959 · last filed 990 for 2025