Kendal At Hanover I
- Assets
- $195.7m
- Revenue
- $33.9m
- Investments
- $0.0
- Employees
- 388
- Location
- Hanover, NH
- Founding
- 10/2000
- Data as of
- 12/2022
- EIN
- 02-0519490
Organization Overview
Kendal At Hanover I is located in Hanover, NH. The organization was established in 2000. According to its NTEE Classification (L22) the organization is classified as: Senior Citizens Housing & Retirement Communities, under the broad grouping of Housing & Shelter and related organizations. As of 12/2022, Kendal At Hanover I employed 388 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kendal At Hanover I 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 12/2022, Kendal At Hanover I generated $33.9m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.2% each year. All expenses for the organization totaled $32.8m during the year ending 12/2022. While expenses have increased by 3.4% per year over the past 8 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
KENDAL AT HANOVER IS A NOT-FOR-PROFIT CONTINUING CARE RETIREMENT COMMUNITY CHARACTERIZED BY MUTUAL RESPECT, INTEGRITY AND A CONCERN FOR EACH OTHER'S WELFARE THAT FOSTERS THE INDEPENDENCE, VITALITY, HEALTH AND SECURITY OF OLDER PERSONS AND IN WHICH RESIDENTS AND STAFF MAY EXERCISE THEIR TALENTS IN A SUPPORTIVE ENVIRONMENT. SPECIFICALLY, OUR MISSION STATES: "TOGETHER, TRANSFORMING THE EXPERIENCE OF AGING."
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATION OF A CONTINUING CARE RETIREMENT COMMUNITY FOR 409 OLDER ADULTS CONSISTING OF 250 INDEPENDENT LIVING RESIDENCES, A COMMUNITY CENTER, A HEALTH CENTER AND 107 LICENSED SUPPORTED RESIDENTIAL HEALTH CARE BEDS. ON-SITE CLINIC PROVIDED PRIMARY CARE TO 409 OF OUR RESIDENTS AND THE HEALTH CENTER PROVIDED 27,399 DAYS OF CARE AT VARIOUS LEVELS. COMPLETED A MULTI-YEAR HEALTH CENTER RENOVATION AND ADDITION THAT WILL SIGNIFICANTLY ENHANCE THE ENVIRONMENT IN WHICH CARE IS PROVIDED. MAINTAINED AN INDEPENDENT LIVING OCCUPANCY RATE OF 93.34%.
EDUCATION REIMBURSEMENT GIVEN TO 27 EMPLOYEES OVER THE YEAR FOR CONTINUING EDUCATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Beth Vettori CEO | Officer | 50 | $282,452 |
Brent B Edgerton Chief Financial Officer | Officer | 50 | $212,197 |
David Urso Chief Operating Officer | Officer | 50 | $157,946 |
Rebecca Daniels Assisted Living Administrator | 50 | $138,846 | |
Jeffrey Roosevelt Director Of Public Relations & Marketing | 50 | $129,827 | |
Robert B Jones Information Technology Director | 50 | $113,800 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Engelberth Construction Inc Construction | 12/30/22 | $5,453,317 |
Interstate Electrical Services Electrical | 12/30/22 | $560,221 |
Tlc Nursing Associates Nursing Services | 12/30/22 | $459,476 |
Shaker Hill Granite Counter Top & Construction | 12/30/22 | $455,036 |
Alliance Mechanical Mechanical | 12/30/22 | $359,595 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $307,832 |
| All other contributions, gifts, grants, and similar amounts not included above | $439,528 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $747,360 |
| Total Program Service Revenue | $31,232,837 |
| Investment income | $1,100,059 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $46,346 |
| Net Gain/Loss on Asset Sales | -$95,889 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $33,925,739 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $60,864 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $665,783 |
| Compensation of current officers, directors, key employees. | $665,783 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $12,056,018 |
| Pension plan accruals and contributions | $980,392 |
| Other employee benefits | $2,067,930 |
| Payroll taxes | $858,443 |
| Fees for services: Management | $50,877 |
| Fees for services: Legal | $38,982 |
| Fees for services: Accounting | $46,232 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $10,025 |
| Office expenses | $302,323 |
| Information technology | $491,084 |
| Royalties | $0 |
| Occupancy | $4,390,407 |
| Travel | $104,704 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $54,033 |
| Interest | $0 |
| Payments to affiliates | $933,144 |
| Depreciation, depletion, and amortization | $5,914,325 |
| Insurance | $208,821 |
| All other expenses | $0 |
| Total functional expenses | $32,830,836 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,639 |
| Savings and temporary cash investments | $2,615,119 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,621,154 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $170,606 |
| Prepaid expenses and deferred charges | $422,218 |
| Net Land, buildings, and equipment | $119,661,460 |
| Investments—publicly traded securities | $64,570,256 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,617,964 |
| Total assets | $195,680,416 |
| Accounts payable and accrued expenses | $4,813,649 |
| Grants payable | $0 |
| Deferred revenue | $76,558,192 |
| Tax-exempt bond liabilities | $56,734,138 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,116,912 |
| Total liabilities | $139,222,891 |
| Net assets without donor restrictions | $45,567,375 |
| Net assets with donor restrictions | $10,890,150 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $195,680,416 |