Colony Retirement Homes Inc
- Assets
- $12.9m
- Revenue
- $7.1m
- Investments
- $76.3k
- Employees
- 65
- Location
- Worcester, MA
- Founding
- 06/1964
- Data as of
- 12/2021
- EIN
- 04-2323137
Organization Overview
Colony Retirement Homes Inc is located in Worcester, MA. The organization was established in 1964. 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 12/2021, Colony Retirement Homes Inc employed 65 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Colony Retirement Homes 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 12/2021, Colony Retirement Homes Inc generated $7.1m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 26.8% each year . All expenses for the organization totaled $1.5m during the year ending 12/2021. While expenses have increased by 3.0% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
DEDICATED TO PROVIDING AFFORDABLE HOUSING FOR SENIORS OF LOW AND MODERATE INCOME.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DEVELOP AND PROVIDE SUBSIDIZED HOUSING FOR LOW AND MODERATE INCOME ELDERLY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Marianne Delorey Executive Director | Officer | 10 | $140,290 |
Hua Xu Controller | Officer | 9.38 | $99,945 |
Michael Mills President | OfficerTrustee | 0.25 | $0 |
Matthew Dufault Treasurer | OfficerTrustee | 0.25 | $0 |
Jane Wangari Vice President | OfficerTrustee | 0.25 | $0 |
Jared Otte Clerk | OfficerTrustee | 0.25 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Elder Services Of Worcester Health Coordinator | 12/30/21 | $355,477 |
Servpro Inc Restoration Services | 12/30/21 | $130,763 |
Lindgren Electric Electrician | 12/30/21 | $137,054 |
Lauring Construction Co Inc Construction Contractor | 12/30/21 | $167,755 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,134 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,235,158 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,238,292 |
| Total Program Service Revenue | $1,805,324 |
| Investment income | $24,335 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$3,537 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,072,126 |
| 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. | $107,724 |
| Compensation of current officers, directors, key employees. | $107,724 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $288,159 |
| Pension plan accruals and contributions | $15,921 |
| Other employee benefits | $77,739 |
| Payroll taxes | $45,653 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,677 |
| Fees for services: Accounting | $21,900 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $9,508 |
| Office expenses | $47,898 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $445,246 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $116,847 |
| Insurance | $33,055 |
| All other expenses | $0 |
| Total functional expenses | $1,544,908 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $223,228 |
| Savings and temporary cash investments | $12,014,763 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,872 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $41,183 |
| Net Land, buildings, and equipment | $493,845 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $76,343 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $12,853,234 |
| Accounts payable and accrued expenses | $91,125 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| 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 | $0 |
| Total liabilities | $91,125 |
| Net assets without donor restrictions | $12,762,109 |
| Net assets with donor restrictions | $0 |
| 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 | $12,853,234 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Colony Retirement Homes Inc has recieved totaling $5,000.
| Awarding Organization | Amount |
|---|---|
Greater Worcester Community Foundation Inc Worcester, MA PURPOSE: MEALS PROGRAM FOR FRAIL ELDERS | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Colgate Palmolive Post Retirement Veba Tr New York, NY | $1,964,886 | $6,599,849 |
Orchard Park Ccrc Inc Orchard Park, NY | $79,217,375 | $18,334,727 |
Christopher House Inc Worcester, MA | $11,659,464 | $17,133,392 |
Firemens Association Of The State Of New York Albany, NY | $46,544,668 | $18,019,275 |
Ascentria Care Alliance Inc West Brookfield, MA | $28,862,438 | $18,232,969 |
Good Shepherd Village At Endwellinc Endwell, NY | $76,298,914 | $15,180,205 |
Gurwin Jewish-Fay J Lindner Residences Inc Commack, NY | $18,352,784 | $14,495,214 |
Island Rehabilitation And Nursing Center Inc Holtsville, NY | $20,545,926 | $27,917,787 |
Overlook Communities Inc Charlton, MA | $31,731,503 | $14,000,337 |
Alliance Health Of Massachusetts Inc Southborough, MA | $12,196,543 | $13,916,904 |
Beverwyck Inc Slingerlands, NY | $81,150,953 | $18,557,714 |
Metro Health Foundation Of New Hampshire Inc Meredith, NH | $23,007,411 | $13,396,555 |