Fairhaven Residents Association Inc
- Assets
- $446.9k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Sykesville, MD
- Founding
- 08/2002
- Data as of
- 12/2023
- EIN
- 01-0608536
Organization Overview
Fairhaven Residents Association Inc is located in Sykesville, MD. The organization was established in 2002. According to its NTEE Classification (P99) the organization is classified as: Human Services N.E.C., under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fairhaven Residents Association Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Fairhaven Residents Association Inc generated $175.2k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 22.0% each year . All expenses for the organization totaled $183.5k during the year ending 12/2023. While expenses have increased by 7.1% per year over the past 5 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTE CHARITABLE, EDUCATIONAL, SPIRITUAL, AND RECREATIONAL ACTIVITIES FOR THE RESIDENTS OF FAIRHAVEN, A MARYLAND CONTINUING CARE RETIREMENT COMMUNITY (CCRC).
Describe the Organization's Program Activity:
Part 3
THE ASSOCIATION MANAGES THE EMPLOYEE APPRECIATION FUND (EAF). FAIRHAVEN ALLOWS NO TIPPING TO ITS EMPLOYEES. INSTEAD THE EAF IS DESIGNED TO PROVIDE GRATUITIES ON A SEMI-ANNUAL BASIS. FUNDS FOR THE EAF ARE DERIVED SOLELY FROM RESIDENT CONTRIBUTIONS. IN 2021 THE RESIDENTS CONTRIBUTED $117,115 AND A TOTAL OF $116,740 WAS DISTRIBUTED TO MORE THAN 200 EMPLOYEES IN JUNE AND DECEMBER. THE EXCESS CONTRIBUTIONS HAVE BEEN HELD FOR DISTRIBUTION IN 2022.
THESE ARE DONATIONS PROVIDED TO LOCAL ORGANIZATIONS OUTSIDE OF FAIRHAVEN WHICH ARE IDENTIFIED AS SUPPORTING THE ASSOCIATION'S MISSION. THE SOURCE OF THESE FUNDS WAS A BEQUEST TO THE ASSOCIATION FOR THIS SPECIFIC PURPOSE. THE DONATIONS FOR 2022 WERE:1) FREEDOM DISTRICT FIRE DEPARTMENT - $10,0002) WEST FRIENDSHIP VOLUNTEER FIRE DEPARTMENT - $5,0003) E.S.C.A.P.E MINISTRIES - $10,0004) CARROLL COUNTY FOOD SUNDAY - $10,0005) CHESAPEAKE BAY FOUNDATION - $10,0006) ST. PAUL UNITED METHODIST CHURH - $10,000THESE DONATIONS WERE ALL MADE IN JUNE OF 2021
THESE WERE THE EXPENSES THAT THE ASSOCIATION DISPENSED IN SUPPORT OF IS MISSION OBJECTIVES. THESE ITEMS INCLUDED EDUCATION, ENTERTAINMENT, RECREATION, SOCIAL SERVICES, SPIRITUAL GROWTH AND ADMINISTRATIVE SUPPLIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Arlene Desmarais President | 12 | $0 | |
John Ramsden Vice President | 10 | $0 | |
John Cournoyer Treasurer | 20 | $0 | |
Gwen Grubb Secretary | 15 | $0 | |
Grorge Drake Director | 1 | $0 | |
Kathleen Debenham Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $106,462 |
| Total Program Service Revenue | $30,112 |
| Membership dues | $18,595 |
| Investment income | $7 |
| Gain or Loss | $20,025 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $175,201 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $0 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $57,010 |
| Total expenses | $183,472 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $446,915 |
| Other assets | $0 |
| Total assets | $446,915 |
| Total liabilities | $0 |
| Net assets or fund balances | $446,915 |
Grants Awarded
Over the last fiscal year, Fairhaven Residents Association Inc has awarded $50,000 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
FREEDOM DISTRICT FD PURPOSE: DONATION | $10,000 |
ESCAPE PURPOSE: DONATION | $10,000 |
CARROLL COUNTY FOOD SUNDAY PURPOSE: DONATION | $10,000 |
CHESAPEAKE BAY FOUNDATION PURPOSE: DONATION | $10,000 |
STPAUL'S UM CHURCH PURPOSE: DONATION | $10,000 |