Tamarisk Inc
- Assets
- $7.8m
- Revenue
- $4.5m
- Investments
- $0.0
- Employees
- 108
- Location
- Warwick, RI
- Founding
- 05/2003
- Data as of
- 06/2021
- EIN
- 03-0475508
Organization Overview
Tamarisk Inc is located in Warwick, RI. The organization was established in 2003. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. As of 06/2021, Tamarisk Inc employed 108 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tamarisk 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 06/2021, Tamarisk Inc generated $4.5m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (1.9%) each year. All expenses for the organization totaled $4.8m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (1.6%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE OPERATION OF AN ASSISTED LIVING FACILITY
Describe the Organization's Program Activity:
THE ORGANIZATION'S OPERATIONS CONSIST OF OWNING AND OPERATING A 73-UNIT ASSISTED LIVING COMMUNITY, WITH 49 TRADITIONAL ASSISTED LIVING APARTMENTS AND 24 DEMENTIA CARE RESIDENCES, LOCATED IN WARWICK, RHODE ISLAND.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Roberta Ragge Executive Director | Officer | 40 | $128,339 |
Marisa Garber President | OfficerTrustee | 1 | $0 |
Mindy Stone Vice President | OfficerTrustee | 1 | $0 |
Minna Ellison Secretary | OfficerTrustee | 1 | $0 |
Richard Licht Treasurer | OfficerTrustee | 1 | $0 |
Erin Gisherman Minior President And CEO | Officer | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $697,094 |
| All other contributions, gifts, grants, and similar amounts not included above | $22,874 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $719,968 |
| Total Program Service Revenue | $3,732,975 |
| Investment income | $3,024 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,476,052 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $135,485 |
| Compensation of current officers, directors, key employees. | $54,194 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,049,001 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $239,012 |
| Payroll taxes | $190,224 |
| Fees for services: Management | $160,764 |
| Fees for services: Legal | $3,606 |
| Fees for services: Accounting | $24,150 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $276,215 |
| Advertising and promotion | $52,086 |
| Office expenses | $91,621 |
| Information technology | $19,670 |
| Royalties | $0 |
| Occupancy | $528,471 |
| Travel | $26,902 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $290,497 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $342,997 |
| Insurance | $116,191 |
| All other expenses | $0 |
| Total functional expenses | $4,839,690 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $382,985 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $144,048 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $87,000 |
| Inventories for sale or use | $26,426 |
| Prepaid expenses and deferred charges | $70,286 |
| Net Land, buildings, and equipment | $6,182,324 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $911,840 |
| Total assets | $7,804,909 |
| Accounts payable and accrued expenses | $356,122 |
| Grants payable | $0 |
| Deferred revenue | $270,544 |
| Tax-exempt bond liabilities | $7,835,778 |
| 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 | $553,795 |
| Other liabilities | $4,177,252 |
| Total liabilities | $13,193,491 |
| Net assets without donor restrictions | -$5,408,247 |
| Net assets with donor restrictions | $19,665 |
| 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 | $7,804,909 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Tamarisk Inc has recieved totaling $25,000.
| Awarding Organization | Amount |
|---|---|
The Rhode Island Community Foundation Providence, RI PURPOSE: COVID-19 RESPONSE REQUEST | $25,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Neville Communities Home Inc Cambridge, MA | $11,055,368 | $17,412,264 |
Affordable Housing And Services Collaborative Inc Braintree, MA | $170,389,416 | $17,704,653 |
Fairhaven Healthcare Center Inc Lowell, MA | $23,711,383 | $11,897,110 |
National Affordable Housing Foundation Schenectady Inc Waltham, MA | $11,290,760 | $3,782,521 |
Neighborhood Of Affordable Housing Inc East Boston, MA | $27,971,204 | $13,300,567 |
Inquilinos Boricuas En Accion Inc Boston, MA | $173,108,948 | $16,934,744 |
Milton-Fuller Housing Corporation Milton, MA | $76,615,525 | $9,254,138 |
Owl Tallahassee Housing Inc Boston, MA | $28,680,052 | $6,023,225 |
Hearth Inc Boston, MA | $12,790,165 | $7,949,326 |
Springhouse Inc Boston, MA | $37,736,932 | $9,492,146 |
The Neighborhood Developers Inc Chelsea, MA | $68,146,151 | $7,961,454 |
Caritas Communities Inc Braintree, MA | $16,422,870 | $5,716,151 |