Rms Development Inc
- Assets
- $11.1m
- Revenue
- $30.4m
- Investments
- $0.0
- Employees
- 661
- Location
- Kensington, CT
- Founding
- 11/1992
- Data as of
- 06/2021
- EIN
- 06-1241289
Organization Overview
Rms Development Inc is located in Kensington, CT. The organization was established in 1992. According to its NTEE Classification (P80) the organization is classified as: Centers to Support the Independence of Specific Populations, under the broad grouping of Human Services and related organizations. As of 06/2021, Rms Development Inc employed 661 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rms Development 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, Rms Development Inc generated $30.4m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 8.9% each year. All expenses for the organization totaled $30.6m during the year ending 06/2021. While expenses have increased by 8.9% per year over the past 6 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
ASSIST IN THE MANAGEMENT, OPERATION, ADMINISTRATION AND OWNERSHIP OF NON-INSTITUTIONAL INDEPENDENT LIVING FACILITIES FOR HANDICAPPED AND DEVELOPMENTALLY DISABLED PERSONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATION OF NON-INSTITUTIONAL INDEPENDENT LIVING FACILITIES FOR HANDICAPPED AND DEVELOPMENTALLY DISABLED PERSONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joseph Milardo Treasurer | OfficerTrustee | 0.5 | $0 |
Steven Wollman President | OfficerTrustee | 0.5 | $0 |
Chris Gonzalez Secretary | OfficerTrustee | 0.5 | $0 |
Donna Marlow Business Man | Officer | 0 | $0 |
Joseph Drexler Executive Di | Officer | 0 | $0 |
Diana Serra Business Dir | Officer | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $27,891,372 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,943 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $27,898,315 |
| Total Program Service Revenue | $2,443,446 |
| Investment income | $49,076 |
| 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 | $30,398,939 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $17,231,110 |
| Pension plan accruals and contributions | $1,285,000 |
| Other employee benefits | $1,378,772 |
| Payroll taxes | $1,416,023 |
| Fees for services: Management | $2,702,093 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $9,652 |
| Fees for services: Other | $2,423,323 |
| Advertising and promotion | $8,205 |
| Office expenses | $57,486 |
| Information technology | $138,592 |
| Royalties | $0 |
| Occupancy | $1,086,777 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $96,139 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $202,317 |
| Insurance | $119,525 |
| All other expenses | $262,829 |
| Total functional expenses | $30,589,663 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,247,309 |
| Savings and temporary cash investments | $55,770 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,444,276 |
| 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 | $24,208 |
| Net Land, buildings, and equipment | $3,451,494 |
| Investments—publicly traded securities | $960,359 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,931,851 |
| Total assets | $11,115,267 |
| Accounts payable and accrued expenses | $4,899,233 |
| 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 | $1,657,276 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $642,795 |
| Total liabilities | $7,199,304 |
| Net assets without donor restrictions | $3,908,460 |
| Net assets with donor restrictions | $7,503 |
| 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 | $11,115,267 |
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