Cloverwood Senior Living Inc
- Assets
- $45.3m
- Revenue
- $14.2m
- Investments
- $0.0
- Employees
- 244
- Location
- Pittsford, NY
- Founding
- 04/2001
- Data as of
- 12/2021
- EIN
- 16-1597251
Organization Overview
Cloverwood Senior Living Inc is located in Pittsford, NY. The organization was established in 2001. 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, Cloverwood Senior Living Inc employed 244 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cloverwood Senior Living 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, Cloverwood Senior Living Inc generated $14.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.0% each year. All expenses for the organization totaled $12.1m during the year ending 12/2021. While expenses have increased by 0.8% 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
CLOVERWOOD IS AN EXCEPTIONAL SENIOR LIVING COMMUNITY THAT ENABLES RESIDENTS TO ENJOY AN ACTIVE AND INDEPENDENT LIFESTYLE WITH COMPANIONSHIP AND PEACE OF MIND IN A STIMULATING AND SECURE ENVIRONMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATED A SENIOR LIVING COMMUNITY CONSISTING OF 150 INDEPENDENT LIVING UNITS (64 PATIO HOMES AND 86 APARTMENTS) AND 57 ENRICHED LIVING UNITS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Finn Executive Director | 37.5 | $138,823 | |
Tamara Stout Marketing Director | 37.5 | $112,474 | |
Tracy Slaven Vice Chairperson | OfficerTrustee | 1 | $0 |
Jean Maess Chairperson | OfficerTrustee | 1 | $0 |
Stanley Peck Immediate Past Chairperson | OfficerTrustee | 1 | $0 |
Kevin Phelps Treasurer | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Lecesse Construction Services Construction Services | 12/30/17 | $227,821 |
North Coast Painting Painting | 12/30/17 | $226,096 |
Lakeview Lawn And Landscaping Landscaping | 12/30/17 | $153,443 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $34,143 |
| Government grants | $722,200 |
| All other contributions, gifts, grants, and similar amounts not included above | $156,469 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $912,812 |
| Total Program Service Revenue | $11,199,880 |
| Investment income | $315,974 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,142,175 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $4,375 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $14,152,806 |
| 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. | $251,297 |
| Compensation of current officers, directors, key employees. | $251,297 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,379,456 |
| Pension plan accruals and contributions | $183,375 |
| Other employee benefits | $400,066 |
| Payroll taxes | $447,203 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $14,807 |
| Fees for services: Accounting | $31,900 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $77,885 |
| Fees for services: Other | $361,900 |
| Advertising and promotion | $377,847 |
| Office expenses | $9,302 |
| Information technology | $273,230 |
| Royalties | $0 |
| Occupancy | $1,609,125 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $224 |
| Interest | $746,933 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,745,915 |
| Insurance | $0 |
| All other expenses | $99,648 |
| Total functional expenses | $12,055,831 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $721,378 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $365,100 |
| Accounts receivable, net | $45,896 |
| 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 | $520,520 |
| Net Land, buildings, and equipment | $27,666,869 |
| Investments—publicly traded securities | $15,119,763 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $873,794 |
| Total assets | $45,313,320 |
| Accounts payable and accrued expenses | $1,455,143 |
| Grants payable | $0 |
| Deferred revenue | $44,482,366 |
| Tax-exempt bond liabilities | $17,534,943 |
| 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 | $784,428 |
| Total liabilities | $64,256,880 |
| Net assets without donor restrictions | -$19,557,485 |
| Net assets with donor restrictions | $613,925 |
| 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 | $45,313,320 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Cloverwood Senior Living Inc has recieved totaling $35,643.
| Awarding Organization | Amount |
|---|---|
Rochester Friendly Senior Services Rochester, NY PURPOSE: ASSISTANCE PROVIDED TO CLOVERWOOD FOR EMPLOYEE BONUES | $34,143 |
Cheryl And Paul Speranza Foundation Inc Pittsford, NY PURPOSE: UNRESTRICED - GENERAL CHARITABLE | $1,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Whitemarsh Continuing Care Retirement Community Lafayette Hill, PA | $237,675,792 | $39,315,037 |
New York Foundation For Senior Citizens Home Attendant Services I New York, NY | $24,976,445 | $43,263,283 |
Caringhouse Projects Incorporated Pleasantville, NJ | $35,651,045 | $47,839,367 |
Concordia Lutheran Ministries Of Pittsburgh Pittsburgh, PA | $101,461,859 | $42,844,424 |
Sjf Ccrc Inc Voorhees, NJ | $105,324,676 | $30,989,570 |
Hudson Lutheran Housing Corporation Secaucus, NJ | $0 | $195,483 |
Active Retirement Community Inc South Setauket, NY | $204,676,750 | $34,139,621 |
Lutheran Home For The Aged Erie, PA | $0 | $39,821,403 |
Mclean Affiliates Inc Simsbury, CT | $119,028,138 | $28,380,962 |
Israel Senior Citizens Housing Development Fund Corp New York, NY | $56,551,856 | $8,736,330 |
Allied Services Personal Care Inc Clarks Summit, PA | $28,269,893 | $25,176,548 |
Woodland Pond Inc New Paltz, NY | $75,307,773 | $23,806,053 |