Wake Robin Corp
- Assets
- $137.4m
- Revenue
- $35.4m
- Investments
- $0.0
- Employees
- 317
- Location
- Shelburne, VT
- Founding
- 08/1985
- Data as of
- 12/2023
- EIN
- 22-2535376
Organization Overview
Wake Robin Corp is located in Shelburne, VT. The organization was established in 1985. 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, Wake Robin Corp employed 317 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wake Robin Corp 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, Wake Robin Corp generated $35.4m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 6.1% each year. All expenses for the organization totaled $33.1m during the year ending 12/2023. While expenses have increased by 5.9% 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 ESTABLISH, OWN, AND MAINTAIN CHARITABLE CONTINUING CARE RETIREMENT COMMUNITIES FOR THE ELDERLY
Describe the Organization's Program Activity:
Part 3 - Line 4a
WAKE ROBIN HAS ONE PRIMARY PROGRAM SERVICE, TO ESTABLISH AND OWN A SUSTAINABLE AND DYNAMIC LIFE PLAN COMMUNITY (ALSO KNOWN AS A CONTINUING CARE RETIREMENT COMMUNITY) FOR OLDER ADULTS THAT HONORS BOTH MUTUAL SUPPORT AND INDEPENDENCE AND ADDRESSES THE HEALTH AND WELLNESS OF EACH RESIDENT. WAKE ROBIN EMBODIES A "RESIDENT DRIVEN" COMMUNITY LIFE, IN WHICH RESIDNTS CAN BE AS ENGAGED AS THEY WANT TO BE BOTH WITHIN AND OUTSIDE OF WAKE ROBIN. WAKE ROBIN PROVIDES RESIDENTS WITH HOUSING, HEALTH CARE SERVICES, FOOD SERVICES, SECURITY AND OTHER ANCILLARY SERVICES. WAKE ROBIN IS COMMITTED TO LIVING OUR CORE VALUES OF COMMUNITY, BALANCE, DIFFERENCE, ENVIRONMENTAL STEWARDSHIP, AND HUMOR. CONTINUED ON SCHEDULE O.THE SINGLE SITE COMMUNITY OFFERS 250 INDEPENDENT LIVING HOMES AND 98 HOMES IN THE LINDEN HEALTH CENTER (41 RESIDENTIAL CARE HOMES, 39 SKILLED NURSING HOMES AND 18 MEMORY CARE). AT DECEMBER 31, 2023, THE COMMUNITY HOUSED APPROXIMATELY 331 RESIDENTS IN INDEPENDENT HOMES AND 73 RESIDENTS IN THE HEALTH CENTER. WAKE ROBIN ALSO PROVIDES BENEVOLENCE ASSISTANCE FOR ITS RESIDENTS WHO, THROUGH NO FAULT OF THEIR OWN, HAVE EXHAUSTED THEIR FINANCIAL RESOURCES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Maitland Chair | OfficerTrustee | 1 | $0 |
Arthur Wright Vice-Chair | OfficerTrustee | 1 | $0 |
Brigette White Board Member | Trustee | 1 | $0 |
Chris Chase Board Member | Trustee | 1 | $0 |
Dolly Fleming Board Member | Trustee | 1 | $0 |
Jean Lenes Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Performance Foods Catering/food | 12/30/23 | $808,053 |
Mountain Air Systems Hvac System Services | 12/30/23 | $620,768 |
Network Performance Inc It Consulting & Installation | 12/30/23 | $609,689 |
The Royal Group Hardware/alarm Services | 12/30/23 | $571,833 |
Able Paint And Glass Construction Services | 12/30/23 | $541,165 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $70,865 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $70,865 |
| Total Program Service Revenue | $34,083,884 |
| Investment income | $1,088,897 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $150,165 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $35,393,811 |
| 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. | $480,948 |
| Compensation of current officers, directors, key employees. | $275,744 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,840,618 |
| Pension plan accruals and contributions | $166,096 |
| Other employee benefits | $7,194,401 |
| Payroll taxes | $880,350 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $42,333 |
| Fees for services: Accounting | $56,498 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $177,261 |
| Fees for services: Other | $467,533 |
| Advertising and promotion | $40,472 |
| Office expenses | $1,138,441 |
| Information technology | $131,538 |
| Royalties | $0 |
| Occupancy | $4,380,435 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,932,770 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,947,497 |
| Insurance | $473,726 |
| All other expenses | $0 |
| Total functional expenses | $33,069,285 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,700 |
| Savings and temporary cash investments | $9,045,713 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $588,665 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $25,586 |
| Prepaid expenses and deferred charges | $355,849 |
| Net Land, buildings, and equipment | $86,489,041 |
| Investments—publicly traded securities | $40,873,414 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $137,379,968 |
| Accounts payable and accrued expenses | $3,244,361 |
| Grants payable | $0 |
| Deferred revenue | $68,373,106 |
| Tax-exempt bond liabilities | $78,542,988 |
| 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 | $5,273,092 |
| Total liabilities | $155,433,547 |
| Net assets without donor restrictions | -$23,400,549 |
| Net assets with donor restrictions | $5,346,970 |
| 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 | $137,379,968 |