Covenant Living Of Cromwell Inc
- Assets
- $101.3m
- Revenue
- $23.5m
- Investments
- $6.4m
- Employees
- 329
- Location
- Cromwell, CT
- Founding
- 07/1975
- Data as of
- 09/2021
- EIN
- 13-1740015
Organization Overview
Covenant Living Of Cromwell Inc is located in Cromwell, CT. The organization was established in 1975. 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 09/2021, Covenant Living Of Cromwell Inc employed 329 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Covenant Living Of Cromwell 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 09/2021, Covenant Living Of Cromwell Inc generated $23.5m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.8% each year. All expenses for the organization totaled $24.6m during the year ending 09/2021. While expenses have increased by 3.4% 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
CARE FOR SENIOR ADULTS
Describe the Organization's Program Activity:
Part 3 - Line 4a
RESIDENTIAL LIVING: THE NUMBER OF PERSONS WHO BENEFITED FROM THE SERVICES WE PROVIDED FOR THE YEAR ENDED SEPTEMBER 30, 2021 WERE AS FOLLOWS:THERE WERE A TOTAL OF 273 RESIDENTS, OCCUPYING 209 APARTMENTS AT 09/30/2021. RESIDENCY FOR THE FISCAL YEAR TOTALED 89,418 RESIDENT DAYS.
ASSISTED LIVING: THE NUMBER OF PERSONS WHO BENEFITED FROM THE SERVICES WE PROVIDED FOR THE YEAR ENDED SEPTEMBER 30, 2021 WERE AS FOLLOWS:THERE WERE A TOTAL OF 50 ASSISTED LIVING RESIDENTS AT 09/30/2021. ASSISTED LIVING RESIDENCY FOR THE FISCAL YEAR TOTALED 16,225 RESIDENT DAYS.
SKILLED NURSING: THE NUMBER OF PERSONS WHO BENEFITED FROM THE SERVICES WE PROVIDED FOR THE YEAR ENDED SEPTEMBER 30, 2021 WERE AS FOLLOWS:THERE WERE A TOTAL OF 46 SKILLED CARE RESIDENTS AT 09/30/2021. SKILLED CARE RESIDENCY FOR THE FISCAL YEAR TOTALED 18,208 RESIDENT DAYS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Daniel Stegbauer Executive Director | Officer | 40 | $199,363 |
Maria Christoforo Associate Executive Director | 40 | $134,669 | |
Gail Ghidini Director Of Nursing | 40 | $134,504 | |
Michael Hamel Director Of Facilities Mgmt | 40 | $122,964 | |
Maryann Trocchio Director Of Assisted Living | 40 | $118,919 | |
Kimberley Fiore Director Of Sales | 40 | $115,438 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sodexo Inc & Affiliates Dining Services | 9/29/21 | $508,430 |
Healthpro Therapy Services Llc Therapy | 9/29/21 | $381,660 |
Link Mechanical Services Inc Mechanical Services | 9/29/21 | $261,366 |
Karl E Lindroth Carpenter-contractor | 9/29/21 | $169,331 |
Orlando's Ornamentals & Landscape Ground Maintenance | 9/29/21 | $162,982 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $81,955 |
| Related organizations | $0 |
| Government grants | $1,719,669 |
| All other contributions, gifts, grants, and similar amounts not included above | $329,139 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,130,763 |
| Total Program Service Revenue | $20,257,878 |
| Investment income | $472,653 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$34,032 |
| Net Gain/Loss on Asset Sales | -$397,941 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $23,506,223 |
| 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. | $243,188 |
| Compensation of current officers, directors, key employees. | $243,188 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $8,153,550 |
| Pension plan accruals and contributions | $262,347 |
| Other employee benefits | $1,265,924 |
| Payroll taxes | $687,122 |
| Fees for services: Management | $108,906 |
| Fees for services: Legal | $58,649 |
| Fees for services: Accounting | $9,161 |
| Fees for services: Lobbying | $1,571 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,228,359 |
| Advertising and promotion | $223,316 |
| Office expenses | $829,187 |
| Information technology | $538,691 |
| Royalties | $0 |
| Occupancy | $2,118,635 |
| Travel | $6,950 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $53,804 |
| Interest | $919,867 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,069,165 |
| Insurance | $303,765 |
| All other expenses | $533,963 |
| Total functional expenses | $24,626,108 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,902 |
| Savings and temporary cash investments | $692,896 |
| Pledges and grants receivable | $211,531 |
| Accounts receivable, net | $1,570,937 |
| 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 | $347,665 |
| Net Land, buildings, and equipment | $74,418,750 |
| Investments—publicly traded securities | $16,607,272 |
| Investments—other securities | $6,427,038 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $993,812 |
| Total assets | $101,272,803 |
| Accounts payable and accrued expenses | $2,142,455 |
| Grants payable | $0 |
| Deferred revenue | $11,276,523 |
| Tax-exempt bond liabilities | $48,501,982 |
| Escrow or custodial account liability | $236,196 |
| 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 | $36,017,850 |
| Total liabilities | $98,175,006 |
| Net assets without donor restrictions | $2,886,924 |
| Net assets with donor restrictions | $210,873 |
| 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 | $101,272,803 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Covenant Living Of Cromwell Inc has recieved totaling $111.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $111 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
New York Armenian Home Inc Forest Hills, NY | $920,237 | $91,924 |
North Hill Needham Inc Needham, MA | $218,215,357 | $46,801,004 |
Church Home Of Hartford Bloomfield, CT | $129,665,157 | $38,203,395 |
Church Homes Inc Congregational Hartford, CT | $66,814,716 | $47,094,677 |
Carleton Willard Homes Inc Bedford, MA | $84,483,009 | $38,647,048 |
The Gerry Homes Gerry, NY | $84,710,797 | $32,122,668 |
Fallon Health Weinberg Inc Getzville, NY | $39,412,564 | $35,899,883 |
Peconic Landing At Southold Inc Greenport, NY | $144,140,145 | $36,575,086 |
Michigan Automobile Insurance Placement Facility Johnston, RI | $95,743,135 | $26,699,927 |
Symmes Life Care Inc Lexington, MA | $195,262,615 | $31,035,434 |
Whitney Center Inc Hamden, CT | $108,082,028 | $31,737,893 |
Duncaster Incorporated Bloomfield, CT | $74,918,312 | $31,476,846 |