Center For Aging Inc
- Assets
- $81.4m
- Revenue
- $25.6m
- Investments
- $0.0
- Employees
- 257
- Location
- Freehold, NJ
- Founding
- 11/1985
- Data as of
- 12/2022
- EIN
- 22-2575377
Organization Overview
Center For Aging Inc, operating under the name Applewood, is located in Freehold, NJ. 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 12/2022, Applewood employed 257 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Applewood 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 12/2022, Applewood generated $25.6m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.0% each year. All expenses for the organization totaled $28.7m during the year ending 12/2022. While expenses have increased by 4.8% per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE SENIORS WITH ACCESSIBLE, COST- EFFECTIVE INDEPENDENT LIVING AND COMPREHENSIVE HEALTHCARE SERVICES, FOSTERING RESIDENT PEACE OF MIND.
Describe the Organization's Program Activity:
Part 3 - Line 4a
APPLEWOOD CONSISTS OF 281 INDEPENDENT APARTMENTS, 20 COTTAGES, 40 RESIDENTIAL HEALTH CARE UNITS, AND A 60-BED SKILLED NURSING FACILITY. THE ORGANIZATION PROVIDES FOR THE CARE OF THE ELDERLY. APPLEWOOD ALSO GOES OUT TO THE COMMUNITY THROUGH SENIOR'S FIRST, WHICH IS A COMPLIMENTARY COMMUNITY OUTREACH AND HEALTHCARE EDUCATION PROGRAM FOR THOSE 60 YEARS AND OLDER IN A 25-MILE RADIUS OF FREEHOLD, NJ. THE CENTER'S PROGRAMS INCLUDE HEALTH FAIRS, BLOOD PRESSURE SCREENINGS, AND HEALTH EDUCATION AND PRESENTATIONS ON PREVENTION AND TREATMENT. IN ADDITION, THERE IS ALSO A SUPPORT GROUP FOR PARKINSON'S DISEASE AS WELL AS COMMUNITY SERVICE REFERRALS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas W Scott Vc-Trst/csmc Pres/ceo(eff.4/9) | OfficerTrustee | 55 | $0 |
John T Gribbin Vc-Trst/csmc Pres/ceo(ret.4/8) | OfficerTrustee | 55 | $0 |
John A Dellocono Trustee - Csmc Svp/cfo | Trustee | 55 | $0 |
Keith Grady Trustee - Executive Director | OfficerTrustee | 55 | $234,333 |
Jennifer Kohan Dir. Marketing/sales | 40 | $198,049 | |
Mary Sommers Assist. Dir. Marketing/sales | 40 | $173,191 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
High Energy Electric Construction | 12/30/22 | $751,856 |
Powerback Rehabilitation Rehabilitation | 12/30/22 | $163,955 |
Mdf Prof Llc Staffing | 12/30/22 | $593,658 |
Lm Heating And Cooling Painting/construct. | 12/30/22 | $227,745 |
Zadlock Outdoor Services Landscaping | 12/30/22 | $159,907 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $189,443 |
| Government grants | $0 |
| 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 | $189,443 |
| Total Program Service Revenue | $24,273,447 |
| Investment income | $683,462 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $490,066 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $25,636,418 |
| 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. | $258,165 |
| Compensation of current officers, directors, key employees. | $25,817 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $9,689,291 |
| Pension plan accruals and contributions | $335,853 |
| Other employee benefits | $1,463,299 |
| Payroll taxes | $874,188 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $162,406 |
| Fees for services: Accounting | $54,204 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,765,761 |
| Advertising and promotion | $462,309 |
| Office expenses | $828,626 |
| Information technology | $84,887 |
| Royalties | $0 |
| Occupancy | $2,080,827 |
| Travel | $57,473 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $466,634 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,497,688 |
| Insurance | $193,380 |
| All other expenses | $0 |
| Total functional expenses | $28,685,935 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $700 |
| Savings and temporary cash investments | $4,694,241 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $821,394 |
| 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 | $188,253 |
| Net Land, buildings, and equipment | $47,008,038 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $25,987,957 |
| Intangible assets | $0 |
| Other assets | $2,735,979 |
| Total assets | $81,436,562 |
| Accounts payable and accrued expenses | $2,506,508 |
| Grants payable | $0 |
| Deferred revenue | $52,785,281 |
| 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 | $0 |
| Other liabilities | $22,326,610 |
| Total liabilities | $77,618,399 |
| Net assets without donor restrictions | $1,094,070 |
| Net assets with donor restrictions | $2,724,093 |
| 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 | $81,436,562 |