Meadowood Corporation
- Assets
- $161.5m
- Revenue
- $45.5m
- Investments
- $0.0
- Employees
- 548
- Location
- Worcester, PA
- Founding
- 10/1984
- Data as of
- 12/2023
- EIN
- 22-2229486
Organization Overview
Meadowood Corporation is located in Worcester, PA. The organization was established in 1984. 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 12/2023, Meadowood Corporation employed 548 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Meadowood Corporation 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, Meadowood Corporation generated $45.5m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 5.1% each year. All expenses for the organization totaled $49.3m during the year ending 12/2023. While expenses have increased by 6.6% 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 PROVIDE THE HIGHEST QUALITY OF LIFE FOR ALL WHO EXPERIENCE THE MEADOWOOD COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEADOWOOD CORPORATION OPERATES A CONTINUING CARE RETIREMENT COMMUNITY WHICH PROVIDES HOUSING, HEALTHCARE, AND OTHER RELATED SERVICES TO SENIORS THROUGH THE OPERATION OF A 59-BED NURSING FACILITY, A 56-BED PERSONAL CARE FACILITY, 298 RESIDENTIAL APARTMENTS, 42 CARRIAGE HOMES AND A HOME HEALTH AGENCY. THE CORPORATION'S COMMUNITY IS LOCATED IN WORCESTER TOWNSHIP, PA. TOTAL RESIDENT DAYS AT THE FACILITY WERE AS FOLLOWS: SKILLED DAYS OF 19,456, PERSONAL CARE DAYS OF 13,542, MEMORY CARE DAYS OF 7,09S AND INDEPENDENT LIVING DAYS OF 156,414. ALSO, THE HOME HEALTH AGENCY PERFORMED 166 VISITS DURING 2023. THE HEALTHCARE SERVICES PROVIDE RESIDENTS WITH PHYSICIAN CARE, PHYSICAL THERAPY, SPEECH THERAPY, OCCUPATIONAL THERAPY, SKILLED NURSING, PERSONAL CARE, ACTIVITIES, HOME HEALTH AND OTHER RELATED SERVICES. MAINTENANCE AND OTHER SERVICES PROVIDE GENERAL MAINTENANCE AND SERVICE REPAIRS TO THE CENTER, INCLUDING DEPRECIATION AND INTEREST EXPENSE, SECURITY, TRANSPORTATION, AND OTHER SERVICES AS NEEDED. DINING SERVICES PROVIDE DAILY MEALS TO RESIDENTS, INCLUDING SPECIAL DIETARY NEEDS OF RESIDENTS AND SPECIAL FUNCTIONS AS REQUESTED BY RESIDENTS. THERE IS ALSO A COFFEE SHOP FOR RESIDENTS, STAFF AND GUESTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Chair | OfficerTrustee | 2 | $0 |
Name Not Listed Vice-Chair | OfficerTrustee | 2 | $0 |
Name Not Listed Secretary | OfficerTrustee | 2 | $0 |
Name Not Listed Treasurer | OfficerTrustee | 2 | $0 |
Name Not Listed President/ceo | OfficerTrustee | 40 | $435,629 |
Name Not Listed Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Moss Rehab Therapy Services | 12/30/23 | $665,000 |
Unidine Corporation Dining Services | 12/30/23 | $612,000 |
Promark Painting | 12/30/23 | $397,363 |
Williams Electric Electrician | 12/30/23 | $360,000 |
Tj's Outdoor Maintenance Landscaping | 12/30/23 | $350,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $34,000 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $827,166 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $861,166 |
| Total Program Service Revenue | $43,418,362 |
| Investment income | $863,915 |
| Tax Exempt Bond Proceeds | $199,547 |
| Royalties | $0 |
| Net Rental Income | -$32,878 |
| Net Gain/Loss on Asset Sales | -$223,147 |
| Net Income from Fundraising Events | -$2,597 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $45,498,154 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $177,782 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $727,822 |
| Compensation of current officers, directors, key employees. | $727,822 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $15,368,587 |
| Pension plan accruals and contributions | $364,925 |
| Other employee benefits | $2,268,136 |
| Payroll taxes | $1,175,416 |
| Fees for services: Management | $47,916 |
| Fees for services: Legal | $50,668 |
| Fees for services: Accounting | $88,555 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $131,409 |
| Fees for services: Other | $2,760,735 |
| Advertising and promotion | $93,708 |
| Office expenses | $1,381,650 |
| Information technology | $509,021 |
| Royalties | $0 |
| Occupancy | $3,197,401 |
| Travel | $70,218 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $61,130 |
| Interest | $3,250,913 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $12,136,218 |
| Insurance | $499,089 |
| All other expenses | $691,864 |
| Total functional expenses | $49,266,171 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,887,624 |
| Savings and temporary cash investments | $301,226 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,718,631 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $183,810 |
| Prepaid expenses and deferred charges | $1,170,472 |
| Net Land, buildings, and equipment | $107,928,596 |
| Investments—publicly traded securities | $43,202,070 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $110,982 |
| Total assets | $161,503,411 |
| Accounts payable and accrued expenses | $4,538,653 |
| Grants payable | $0 |
| Deferred revenue | $75,532,277 |
| Tax-exempt bond liabilities | $69,908,466 |
| 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 | $27,574,920 |
| Total liabilities | $177,554,316 |
| Net assets without donor restrictions | -$16,819,893 |
| Net assets with donor restrictions | $768,988 |
| 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 | $161,503,411 |