Cypress Of Raleigh Club Inc
- Assets
- $8.6m
- Revenue
- $17.8m
- Investments
- $0.0
- Employees
- 510
- Location
- Raleigh, NC
- Founding
- 06/2008
- Data as of
- 12/2021
- EIN
- 20-2818389
Organization Overview
Cypress Of Raleigh Club Inc is located in Raleigh, NC. The organization was established in 2008. According to its NTEE Classification (N99) the organization is classified as: Recreation & Sports N.E.C., under the broad grouping of Recreation & Sports and related organizations. As of 12/2021, Cypress Of Raleigh Club Inc employed 510 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cypress Of Raleigh Club Inc is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2021, Cypress Of Raleigh Club Inc generated $17.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.5% each year. All expenses for the organization totaled $17.7m during the year ending 12/2021. While expenses have increased by 8.2% 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
THE CYPRESS OF RALEIGH CLUB WAS FORMED TO SERVE AS THE MANAGEMENT ENTITY WHICH CARRIES OUT THE CONTRACTUAL AGREEMENT WITH MEMBERS OF THE CONTINUING CARE RETIREMENT COMMUNITY. THE CLUB MANAGES THE COMMONLY OWNED PROPERTY OF THE CYPRESS, INCLUDING THE CLUBHOUSE AND HEALTH CENTER, AS WELL AS THE SERVICES PROVIDED AT THE CLUBHOUSE AND HEALTH CENTER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CYPRESS OF RALEIGH CLUB IS A CONTINUING CARE RETIREMENT COMMUNITY THAT INCLUDES 319 INDEPENDENT LIVING UNITS AND A 61 BED NURSING FACILITY. SERVICES AVAILABLE TO THOSE MEMBERS IN INDEPENDENT LIVING AS A PART OF THE MONTHLY PAYMENT INCLUDE CLUB ACTIVITIES, URGENT CALL SYSTEM, MONTHLY FOOD SERVICE ALLOWANCE, PRIVATE DINING ROOM, WEEKLY FLAT LAUNDRY, WEEKLY HOUSEKEEPING, SCHEDULED MAINTENANCE OF COTTAGE OR VILLA AND COMMON AREA, GROUNDS CARE AND GARDENING, CERTAIN UTILITIES, SCHEDULED TRANSPORTATION, CAMPUS SECURITY, MAIL DELIVERY, ABSENCE CREDIT, MEMBER COMMITTEES, MONTHLY BILLING SERVICE, UNCOVERED SURFACE PARKING FOR MEMBERS AND GUESTS. ADDITIONAL SERVICES NOT INCLUDED IN MONTHLY PAYMENT ARE BEAUTY AND BARBERSHOP, COVERED AND GARAGE PARKING AND ON SITE HOME CARE AGENCY.
THE HOME CARE AGENCY PROVIDES PERSONAL SERVICES TO MEMBERS TO CONTINUE LIVING IN THEIR COTTAGE OR VILLAS. THESE SERVICES ARE PROVIDED BY NURSING STAFF AND OTHER STAFF MEMBERS. SERVICES SUCH AS BATHING, DRESSING, SHOPPING, PERSONAL LAUNDRY, ADDITIONAL HOUSEKEEPING, IN HOME CARE, MEDICATION MANAGEMENT AND SPECIAL TRANSPORTATION WILL BE AVAILABLE TO THE MEMBERS ON A FEE FOR SERVICE BASIS.
THE CYPRESS OF RALEIGH CLUB INCLUDES THE ROSEWOOD HEALTH CENTER WHICH IS A COMBINATION FACILITY OF 57 SKILLED NURSING BEDS AND 4 ADULT CARE HOME BEDS. THE ROSEWOOD HAS PRIVATE AND SEMIPRIVATE ROOMS, A PHYSICAL THERAPY ROOM, AN ARTS AND CRAFTS THERAPY AREA, DINING ROOMS AND LOUNGES. FOR MEMBERS WHO ARE ABLE TO DO SO THE ROSEWOOD EMPHASIZES RESTORATIVE CARE AND WELLNESS FOR PURPOSES OF RETURNING THESE MEMBERS TO THEIR COTTAGES OR VILLAS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sarah Frelich Dir Of Resid | 40 | $135,744 | |
Lesley Olsen Director Of | 40 | $134,629 | |
Jerry Hurt Dir Of Facil | 40 | $120,552 | |
Garcia Sawyer Dir Of Nursi | 40 | $120,007 | |
Pauline Sardo Dir Of Finan | 40 | $103,635 | |
Dan Cuthriell Secretary/tr | Officer | 40 | $29,849 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cypress Of Raleigh Llc Management Serv | 12/30/21 | $1,361,354 |
Life Care Services Llc Management Comp | 12/30/21 | $583,345 |
Lechase Construction Services Construction | 12/30/21 | $1,234,564 |
Davis Landscape Ltd Landscaping | 12/30/21 | $531,471 |
Healthpro-heritage Llc Therapy Service | 12/30/21 | $463,515 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $570,420 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $570,420 |
| Total Program Service Revenue | $16,637,279 |
| Investment income | $131,483 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $409,813 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $17,789,795 |
| 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. | $31,189 |
| Compensation of current officers, directors, key employees. | $31,189 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $8,652,308 |
| Pension plan accruals and contributions | $77,438 |
| Other employee benefits | $1,564,530 |
| Payroll taxes | $655,568 |
| Fees for services: Management | $2,184,060 |
| Fees for services: Legal | $38,013 |
| Fees for services: Accounting | $9,448 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $36,757 |
| Fees for services: Other | $259,894 |
| Advertising and promotion | $1,713 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $10,890 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $5,506 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $237,648 |
| Insurance | $85,616 |
| All other expenses | $901,286 |
| Total functional expenses | $17,730,072 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $433,006 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $789,723 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $136,183 |
| Prepaid expenses and deferred charges | $250,353 |
| Net Land, buildings, and equipment | $1,422,248 |
| Investments—publicly traded securities | $10,138,592 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | -$4,538,666 |
| Total assets | $8,631,439 |
| Accounts payable and accrued expenses | $705,887 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $201,728 |
| Other liabilities | $1,024,465 |
| Total liabilities | $1,932,080 |
| Net assets without donor restrictions | $2,738,359 |
| Net assets with donor restrictions | $3,961,000 |
| 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 | $8,631,439 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Cypress Of Raleigh Club Inc Raleigh, NC | $8,631,439 | $17,789,795 |
Path Foundation Inc Atlanta, GA | $7,941,143 | $9,456,940 |
Southeastern Virginia Areawide Model Program Inc Norfolk, VA | $2,843,692 | $8,738,729 |
Metropolitan Richmond Sports Backers Inc Richmond, VA | $2,872,546 | $6,713,495 |
Big South Conference Inc Charlotte, NC | $10,241,548 | $8,654,912 |
Cleveland County Family Ymca Inc Shelby, NC | $16,549,563 | $5,509,175 |
Charlotte City Club Inc Charlotte, NC | $14,589,819 | $3,286,480 |
Marlins Of Raleigh Raleigh, NC | $1,167,559 | $2,085,324 |
A H R M A Elora, TN | $355,476 | $1,651,108 |
Vysa For Land Preservation Fredericksburg, VA | $6,332,662 | $617,000 |
Commanderie De Bordeaux Inc Brentwood, TN | $1,195,478 | $1,296,061 |
Atlanta Hawks Foundation Inc Atlanta, GA | $602,957 | $362,500 |