Springpoint Senior Living Inc
- Assets
- $51.1m
- Revenue
- $14.7m
- Investments
- $0.0
- Employees
- 307
- Location
- Cherry Hill, NJ
- Founding
- 01/1997
- Data as of
- 03/2017
- EIN
- 22-3681799
Organization Overview
Springpoint Senior Living Inc is located in Cherry Hill, NJ. The organization was established in 1997. According to its NTEE Classification (L80) the organization is classified as: Housing Support, under the broad grouping of Housing & Shelter and related organizations. As of 03/2017, Springpoint Senior Living Inc employed 307 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 03/2017, Springpoint Senior Living Inc generated $14.7m in total revenue. The organization has seen a slow decline revenue. Over the past 2 years, revenues have fallen by an average of (0.4%) each year. All expenses for the organization totaled $15.8m during the year ending 03/2017. 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
2017
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE EXCELLENT, COMPREHENSIVE SERVICES TO OLDER ADULTS IN RESIDENTIAL AND HEALTHCARE SETTINGS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CADBURY AT LEWES, INC. IS A CONTINUING CARE RETIREMENT COMMUNITY LOCATED IN LEWES, DE THAT PROVIDES RESIDENTIAL, ASSISTED LIVING AND MEDICAL CARE TO ITS RESIDENTS. THE RESIDENTIAL FACILITY CONSISTS OF 130 INDEPENDENT LIVING UNITS, 45 LICENSED ASSISTED LIVING BEDS, AND A HEALTHCARE CENTER CONSISTING OF 40 LICENSED NURSING BEDS. ITS PHILOSOPHY IS TO EQUIP ITSELF TO MEET THE PHYSICAL, EMOTIONAL, RECREATIONAL, SOCIAL AND SPIRITUAL NEEDS OF ITS RESIDENTS.FOR FISCAL YEAR 2017, THE OCCUPANCY PERCENTAGE WAS 90.7% FOR THE INDEPENDENT LIVING, 88% FOR ASSISTED LIVING AND 93% FOR SKILLED BEDS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Grier-Reynolds Chair | OfficerTrustee | 1 | $0 |
William C Probsting Vice Chair | OfficerTrustee | 1 | $0 |
Barbara White Assistant Secretary | OfficerTrustee | 1 | $0 |
Allison Richards Board Member | Trustee | 1 | $0 |
Lance Billingsley Board Member | Trustee | 1 | $0 |
Curt Christensen Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Genesis Rehabilitation Rehabilitation Services | 3/30/17 | $687,401 |
New Castle Rx Pharmacy Supplier | 3/30/17 | $232,713 |
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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $14,426,394 |
| Investment income | $273,894 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $6,169 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $14,747,303 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,647,236 |
| Pension plan accruals and contributions | $58,743 |
| Other employee benefits | $1,603,441 |
| Payroll taxes | $410,676 |
| Fees for services: Management | $781,323 |
| Fees for services: Legal | $22,149 |
| Fees for services: Accounting | $3,498 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $925,407 |
| Advertising and promotion | $247,525 |
| Office expenses | $289,706 |
| Information technology | $47,886 |
| Royalties | $0 |
| Occupancy | $828,740 |
| Travel | $26,423 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $13,511 |
| Interest | $1,034,009 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,773,212 |
| Insurance | $142,719 |
| All other expenses | $272,194 |
| Total functional expenses | $15,781,035 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,805 |
| Savings and temporary cash investments | $656,738 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $429,735 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $25,361 |
| Prepaid expenses and deferred charges | $424,672 |
| Net Land, buildings, and equipment | $37,065,609 |
| Investments—publicly traded securities | $11,949,032 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $537,947 |
| Total assets | $51,092,899 |
| Accounts payable and accrued expenses | $1,284,933 |
| Grants payable | $0 |
| Deferred revenue | $49,324,106 |
| Tax-exempt bond liabilities | $18,630,008 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $132,071 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $336,710 |
| Total liabilities | $69,707,828 |
| Unrestricted restricted net Assets | -$18,637,648 |
| Temporarily restricted net Assets | $22,719 |
| Permanently restricted net Assets or current funds | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total net assets or fund balances | -$18,614,929 |