Springpoint Senior Living Inc
- Assets
- $810.9m
- Revenue
- $204.8m
- Investments
- $28.0
- Employees
- 2,421
- Location
- Wall, NJ
- Founding
- 01/1997
- Data as of
- 12/2021
- EIN
- 22-3498690
Organization Overview
Springpoint Senior Living Inc is located in Wall, NJ. The organization was established in 1997. 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 12/2021, Springpoint Senior Living Inc employed 2,421 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Springpoint 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, Springpoint Senior Living Inc generated $204.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.2% each year. All expenses for the organization totaled $229.2m during the year ending 12/2021. While expenses have increased by 6.5% 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
TO INSPIRE OUR FAMILY WITH ENDLESS OPPORTUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EXPENSES INCURRED IN PROVIDING SENIOR HOUSING AND SERVICES, AFFORDABLE HOUSING, ASSISTED LIVING, SKILLED NURSING CARE, REHABILITATION, AND ALZHEIMER'S CARE. PLEASE REFER TO SCHEDULE O FOR THE ORGANIZATION'S COMMUNITY BENEFIT STATEMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Oakes Sr. VP Foundation | Officer | 50 | $290,060 |
Maureen A Schneider Ph D Chair - Trustee | OfficerTrustee | 1 | $0 |
Edgard M Coster Vice Chair - Trustee | OfficerTrustee | 1 | $0 |
Anthony Argondizza Trustee; Ex-Officio-President & CEO | OfficerTrustee | 50 | $0 |
Garrett I Midgett Senior Vp/cfo, Treasurer | Officer | 50 | $0 |
David Woodward Senior Vp/coo, Assistant Treasurer | Officer | 50 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ac Drywall And Painting Llc Dba Ac Const Construction | 12/30/21 | $5,103,904 |
Yes We Do Llc Construction | 12/30/21 | $2,885,861 |
Eric Weinrich Dba First Class Plumbing A Plumbing | 12/30/21 | $1,538,865 |
Brightview Acquisition Holdings Inc Landscaping | 12/30/21 | $1,107,807 |
Premier Custom Homes Construction | 12/30/21 | $937,194 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $248,740 |
| Related organizations | $0 |
| Government grants | $11,607,334 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,099,292 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $14,955,366 |
| Total Program Service Revenue | $182,245,919 |
| Investment income | $3,178,632 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $295,826 |
| Net Gain/Loss on Asset Sales | $3,103,202 |
| Net Income from Fundraising Events | -$59,485 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $204,804,520 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $275,924 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $313,960 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $74,420,131 |
| Pension plan accruals and contributions | $907,839 |
| Other employee benefits | $14,686,400 |
| Payroll taxes | $5,665,756 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,067,659 |
| Fees for services: Accounting | $708,240 |
| Fees for services: Lobbying | $196,421 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $60,822 |
| Fees for services: Other | $17,819,816 |
| Advertising and promotion | $4,994,567 |
| Office expenses | $3,872,545 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $17,530,411 |
| Travel | $131,666 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $222,330 |
| Interest | $9,376,799 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $35,517,051 |
| Insurance | $3,915,277 |
| All other expenses | $12,309,606 |
| Total functional expenses | $229,171,707 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $18,220 |
| Savings and temporary cash investments | $54,399,323 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $14,772,563 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $6,095,792 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $5,112,810 |
| Net Land, buildings, and equipment | $471,869,575 |
| Investments—publicly traded securities | $177,946,524 |
| Investments—other securities | $28 |
| Investments—program-related | $0 |
| Intangible assets | $67,348,203 |
| Other assets | $13,323,655 |
| Total assets | $810,886,693 |
| Accounts payable and accrued expenses | $17,179,059 |
| Grants payable | $0 |
| Deferred revenue | $119,497,718 |
| Tax-exempt bond liabilities | $175,489,468 |
| Escrow or custodial account liability | $44,545 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $128,872,993 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $466,655,765 |
| Total liabilities | $907,739,548 |
| Net assets without donor restrictions | -$110,643,702 |
| Net assets with donor restrictions | $13,790,847 |
| 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 | $810,886,693 |
Grants Awarded
Over the last fiscal year, Springpoint Senior Living Inc has awarded $20,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
TWO RIVER THEATER PURPOSE: GENERAL PURPOSE | $15,000 |
Hamilton, NJ PURPOSE: GENERAL PURPOSE | $5,000 |
Endowment Analysis
| Beg. Balance | $11,793,485 |
| Earnings | $1,419,570 |
| Net Contributions | $1,773,106 |
| Other Expense | $1,195,314 |
| Ending Balance | $13,790,847 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Acts Retirement-Life Communities Inc Fort Washington, PA | $1,794,608,174 | $465,695,033 |
Springpoint Senior Living Inc Wall, NJ | $810,886,693 | $204,804,520 |
Willow Valley Communities Lancaster, PA | $552,338,395 | $126,609,439 |
Isabella Geriatric Center Inc Brooklyn, NY | $130,669,713 | $93,043,151 |
Seabrook Village Inc Tinton Falls, NJ | $317,428,948 | $63,950,386 |
Spiritrust Lutheran York, PA | $151,346,375 | $71,838,005 |
Humangood Pennsylvania Lafayette Hill, PA | $322,351,436 | $66,729,303 |
Menno-Haven Inc Chambersburg, PA | $224,712,119 | $60,604,024 |
Kendal-Crosslands Communities Kennett Square, PA | $254,475,918 | $64,274,930 |
United Church Of Christ Homes Camp Hill, PA | $133,046,183 | $59,846,484 |
Trustees Of The Masonic Hall And Asylum Fund New York, NY | $379,711,052 | $51,080,560 |
Concordia Lutheran Health And Human Care Cabot, PA | $105,474,184 | $66,315,819 |