Providence Rest
- Assets
- $31.0m
- Revenue
- $34.4m
- Investments
- $0.0
- Employees
- 258
- Location
- Bronx, NY
- Founding
- 03/1946
- Data as of
- 12/2023
- EIN
- 13-1740301
Organization Overview
Providence Rest, operating under the name Archcare At Providence Rest, is located in Bronx, NY. The organization was established in 1946. According to its NTEE Classification (E91) the organization is classified as: Nursing Facilities, under the broad grouping of Health Care and related organizations. As of 12/2023, Archcare At Providence Rest employed 258 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Archcare At Providence Rest 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 12/2023, Archcare At Providence Rest generated $34.4m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 0.4% each year. All expenses for the organization totaled $35.7m during the year ending 12/2023. While expenses have increased by 1.8% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO RENDER INPATIENT MEDICAL CARE TO THE AGED.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OUR SNF OFFERS SHORT TERM REHABILITATION, SUBACUTE SERVICES, LONG TERM CARE AND RESPITE CARE. IN ADDITION, WE HAVE A COMPREHENSIVE PALLIATIVE CARE PROGRAM AND PROVIDE IN-PATIENT HOME HOSPICE CARE. OUR SERVICES FOCUS ON THE OLDER ADULTS IN OUR COMMUNITY. WE HAVE A PERSON-CENTERED PHILOSOPHY, FOCUSING ON ALL THE NEEDS OF EACH INDIVIDUAL ENTRUSTED TO US PHYSICAL, SPIRITUAL, PSYCHOLOGICAL AND SOCIAL. WE HAD 576 ADMISSIONS TO PROVIDENCE REST IN 2023, DISCHARGED 390 RESIDENTS BACK TO THEIR HOMES. WE RENDERED 71,588 DAYS OF RESIDENT CARE AND 23 DAYS OF RESPITE CARE. PROVIDENCE REST CONTINUED TO EXTEND THE BOUNDARIES OF THE HOME TO THE COMMUNITY AT LARGE, SHARING EXPERTISE, PROGRAMS AND RESOURCES, THROUGH INTERNSHIP PROGRAMS, COMMUNITY INFORMATION PROGRAMS, HEALTH FAIR PARTICIPATION AND OTHER OUTREACH EFFORTS INCLUDING PROVIDING THE BOARD OF ELECTIONS WITH PROVIDENCE AS A NEW, HANDICAPPED ACCESSIBLE POLLING SITE.
OUR OUTPATIENT PROGRAM PROVIDES PHYSICAL, OCCUPATIONAL AND SPEECH THERAPY SERVICES TO THE ADULTS OF OUR COMMUNITY, SPECIALIZING IN REHABILITATION FOR THE SENIOR POPULATION. THE PROGRAM ALSO PROVIDES CONTINUITY FOR OUR DISCHARGED SHORT-TERM REHAB CLIENTS WHO CHOOSE TO REMAIN WITH OUR THERAPISTS FOR THEIR REHABILITATION ONCE THEY RETURN HOME
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Francis J Serbaroli ESQ Chairman | OfficerTrustee | 0.1 | $0 |
Thomas M O'brien Vice-Chair | Trustee | 0.1 | $0 |
Dr Tara A Cortes Secretary | Trustee | 0.1 | $0 |
Thomas E Alberto Board Member | Trustee | 0.1 | $0 |
Steve Bujno Board Member | Trustee | 0.1 | $0 |
John Cahill Board Member | Trustee | 0.1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Morrison Management Specialist Nutrition Mgmt Services | 12/30/23 | $1,755,898 |
Catholic Health Care System Administrative Services | 12/30/23 | $1,602,669 |
Rcm Technologies Staffing Services | 12/30/23 | $1,539,889 |
Theradynamics Rehab Llc Rehab Services | 12/30/23 | $1,021,277 |
Aequor Healthcare Services Staffing Services | 12/30/23 | $457,698 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $89,470 |
| Related organizations | $0 |
| Government grants | $1,043,464 |
| All other contributions, gifts, grants, and similar amounts not included above | $350,013 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,482,947 |
| Total Program Service Revenue | $32,474,620 |
| Investment income | $223,907 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $531 |
| Net Gain/Loss on Asset Sales | $166,393 |
| Net Income from Fundraising Events | -$45,434 |
| Net Income from Gaming Activities | $7,330 |
| Net Income from Sales of Inventory | $22,212 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $34,354,575 |
| 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. | $321,732 |
| Compensation of current officers, directors, key employees. | $321,732 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $10,838,602 |
| Pension plan accruals and contributions | $1,066,193 |
| Other employee benefits | $2,274,777 |
| Payroll taxes | $1,675,550 |
| Fees for services: Management | $1,748,366 |
| Fees for services: Legal | $96,059 |
| Fees for services: Accounting | $78,500 |
| Fees for services: Lobbying | $19,775 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $24,847 |
| Fees for services: Other | $8,201,387 |
| Advertising and promotion | $56 |
| Office expenses | $1,146,670 |
| Information technology | $285,088 |
| Royalties | $0 |
| Occupancy | $1,288,952 |
| Travel | $7,003 |
| 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 | $2,340,338 |
| Insurance | $462,697 |
| All other expenses | $487,714 |
| Total functional expenses | $35,717,083 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $656,326 |
| Savings and temporary cash investments | $5,203,479 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,181,526 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $100,937 |
| Prepaid expenses and deferred charges | $214,758 |
| Net Land, buildings, and equipment | $10,252,030 |
| Investments—publicly traded securities | $7,272,904 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,146,954 |
| Total assets | $31,028,914 |
| Accounts payable and accrued expenses | $7,420,214 |
| Grants payable | $0 |
| Deferred revenue | $68,306 |
| Tax-exempt bond liabilities | $15,506,946 |
| Escrow or custodial account liability | $363,786 |
| 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 | $3,787,177 |
| Total liabilities | $27,146,429 |
| Net assets without donor restrictions | $3,882,485 |
| 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 | $31,028,914 |