Edgewood Retirement Community Inc

Organization Overview

Edgewood Retirement Community Inc is located in North Andover, MA. The organization was established in 1994. According to its NTEE Classification (P75) the organization is classified as: Supportive Housing for Older Adults, under the broad grouping of Human Services and related organizations. As of 12/2021, Edgewood Retirement Community Inc employed 384 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Edgewood Retirement Community 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, Edgewood Retirement Community Inc generated $28.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.2% each year. All expenses for the organization totaled $28.0m during the year ending 12/2021. While expenses have increased by 2.5% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

CONTINUING CARE RETIREMENT COMMUNITY.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE COMMUNITY CONSISTS OF 217 RESIDENTIAL UNITS, 24 COTTAGES, COMMON SPACE, 59 NURSING CARE BEDS AND 40 ASSISTED LIVING BEDS. THE COMMUNITY OPERATES UNDER THE "LIFE CARE" CONCEPT IN WHICH RESIDENTS ENTER INTO A RESIDENCY AGREEMENT WHICH REQUIRES PAYMENT OF A ONE-TIME ENTRANCE FEE AND MONTHLY SERVICE FEES. THESE PAYMENTS ENTITLE RESIDENTS TO THE USE AND PRIVILEGES OF THE COMMUNITY FOR LIFE.


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Board, Officers & Key Employees

Name (title)Compensation
Marlene Rotering
President/ceo
$487,205
Jane Sullivan
CFO
$242,011
Robert Coppola
Project Manager
$184,524
Melissa Kampersal
Executive Director
$181,696
Roza Khan
House Manager
$168,517
David Botte
Administrator
$159,120

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Pimintel Construction
Construction
$1,124,260
Illumia Llc
Marketing Services
$1,012,664
Dynamic Inc
Contract Kitchen Services
$435,127
Jeremy Hiltz Excavating
Construction/ Sitework Services
$784,161
Functional Pathways
Contract Therapy/rehab Staff
$405,295
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $45,860
All other contributions, gifts, grants, and similar amounts not included above$316,164
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$362,024
Total Program Service Revenue$26,443,146
Investment income $645,925
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $660,773
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $28,111,868

Grants Recieved

Over the last fiscal year, we have identified 2 grants that Edgewood Retirement Community Inc has recieved totaling $18,000.

Awarding OrganizationAmount
Fidelity Investments Charitable Gift Fund

Boston, MA

PURPOSE: For grant recipient's exempt purposes

$9,000
Fidelity Investments Charitable Gift Fund

Boston, MA

PURPOSE: For grant recipient's exempt purposes

$9,000
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$2,650
Ending Balance$2,650

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