Homestead Village Inc
- Assets
- $90.2m
- Revenue
- $26.1m
- Investments
- $0.0
- Employees
- 291
- Location
- Lancaster, PA
- Founding
- 03/1980
- Data as of
- 06/2021
- EIN
- 23-2010104
Organization Overview
Homestead Village Inc is located in Lancaster, PA. The organization was established in 1980. 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 06/2021, Homestead Village Inc employed 291 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Homestead Village 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 06/2021, Homestead Village Inc generated $26.1m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 8.2% each year. All expenses for the organization totaled $22.2m during the year ending 06/2021. While expenses have increased by 5.3% per year over the past 6 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
CONTINUING CARE RETIREMENT COMMUNITY
Describe the Organization's Program Activity:
Part 3 - Line 4a
INDEPENDENT LIVING - HOMESTEAD VILLAGE PROVIDED RESIDENTIAL LIVING ACCOMMODATIONS TO 497 RESIDENTS ON 6/30/2021 IN 28 SINGLE FAMILY HOMES, 135 DUPLEX AND TRIPLEX VILLAS, 111 APARTMENTS AND 91 FARMSTEAD HOMES, AN INCREASE OF 18 HOMES AT THE FARMSTEAD FROM THE PRIOR YEAR. RESIDENTIAL LIVING IS THE FIRST STAGE IN THE QUALITY RESIDENT-FOCUSES CONTINUUM OF CARE PROVIDED FOR THE SENIOR ADULTS SERVED BY HOMESTEAD VILLAGE. RESIDENTS ENJOY ACTIVE LIVING THROUGH A VARIETY OF ACTIVITIES, LIFE-LONG LEARNING OPPORTUNITIES, WORRY FREE HOME MAINTENANCE AND PEACE OF MIND WITH THE SUPERIOR CARE AVAILABLE TO THEM THROUGH OUR "THRIVE WHERE YOU ARE" PHILOSOPHY. HOME CARE SERVICES CONTINUES TO GROW AND FILL A VERY IMPORTANT ROLE IN THE "THRIVE WHERE YOU ARE" PHILOSOPHY.
PERSONAL CARE SERVICES - HOMESTEAD VILLAGE OFFERS 26 MEMORY SUPPORT PERSONAL CARE ROOMS IN THE GELHARD HOUSE AND HARVEST HOUSE (NAMED TOGETHER AS WESTVUE). PERSONAL CARE IS ALSO OFFERED IN OUR APARTMENT BUILDING THROUGH OUR INNOVATIVE SUPPORTIVE SERVICES PROGRAM WHICH PROVIDES PERSONAL CARE SERVICES IN UP TO 74 OF OUR APARTMENT HOMES. THIS PART OF THE PROGRAM ALLOWS RESIDENTS TO REMAIN IN THEIR HOMES FOR A LONGER PERIOD OF TIME BEFORE TRANSFERRING TO A HIGHER LEVEL OF CARE. IN PAST FISCAL YEAR, WE SERVED AN AVERAGE OF 25.0 RESIDENTS IN WESTVUE AND AN AVERAGE OF 28.5 RESIDENTS THROUGH THE SUPPORTIVE SERVICES PROGRAM IN THE APARTMENTS.
NURSING SERVICES - HOMESTEAD VILLAGE PROVIDES A HIGH LEVEL OF NURSING CARE TO OUR RESIDENTS AND MEMBERS OF THE SURROUNDING COMMUNITY WHO REQUIRE SKILLED NURSING CARE. WE HAVE A 60 BED NURSING FACILITY LICENSED FOR BOTH MEDICARE AND MEDICAID WHICH SERVED AN AVERAGE OF 44.1 RESIDENTS PER MONTH DURING THE FISCAL YEAR.
HOMESTEAD PROVIDES SERVICES TO RESIDENTS WHO MEET CERTAIN CRITERIA AT AMOUNTS LESS THAN ITS COST OF PROVIDING CARE. HOMESTEAD MAINTAINS RECORDS TO IDENTIFY AND MONITOR THE LEVEL OF BENEVOLENT CARE IT PROVIDES. THE COSTS ASSOCIATED WITH THE BENEVOLENT CARE SERVICES PROVIDED TO RESIDENTS INCLUDE BOTH DIRECT COSTS AND ESTIMATED INDIRECT COSTS, AS REPORTED BY MANAGEMENT ON HOMESTEAD'S INTERNAL CONSOLIDATED FINANCIAL STATEMENTS. THE LEVEL OF BENEVOLENT CARE PROVIDED BY HOMESTEAD, WHICH REPRESENTS THE DIFFERENCE BETWEEN THE ESTIMATED COST OF PROVIDING CARE AND THE PAYMENTS RECEIVED FOR SERVICES RENDERED, INCLUDING MEDICAL ASSISTANCE PROGRAM BENEFICIARIES, WAS APPROXIMATELY $726,000 AND $1,245,000 IN THE YEARS ENDED JUNE 30, 2021 AND 2020, RESPECTIVELY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Douglas Motter President | Officer | 50 | $194,495 |
Joel Clausen VP Of Resident Services | Officer | 50 | $151,435 |
Laura Tallarico VP Of Hr | 50 | $124,939 | |
James Tesche Facilities Manager | 40 | $121,037 | |
Florence Simala Director Of Nursing | 50 | $101,471 | |
Matthew Scarpato VP Of Operations & CFO | Officer | 50 | $81,103 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cura Hospitality Food Services | 6/29/21 | $2,034,511 |
Eg Stoltzfus Contractor | 6/29/21 | $3,348,488 |
Genesis Eldercare Rehabilitation Service Medical | 6/29/21 | $781,442 |
Big Wireless Llc It Services | 6/29/21 | $288,010 |
Cor Construction Services Inc Contractor | 6/29/21 | $709,731 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $94,744 |
| Related organizations | $0 |
| Government grants | $1,519,357 |
| All other contributions, gifts, grants, and similar amounts not included above | $280,280 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,894,381 |
| Total Program Service Revenue | $23,420,256 |
| Investment income | $162,759 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $141,030 |
| Net Gain/Loss on Asset Sales | $244,460 |
| Net Income from Fundraising Events | -$8,602 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $26,089,008 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,307 |
| 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. | $463,316 |
| Compensation of current officers, directors, key employees. | $457,816 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,158,401 |
| Pension plan accruals and contributions | $64,844 |
| Other employee benefits | $1,437,834 |
| Payroll taxes | $647,891 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $7,672 |
| Fees for services: Accounting | $182,491 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $48,050 |
| Fees for services: Other | $3,921,593 |
| Advertising and promotion | $180,411 |
| Office expenses | $81,926 |
| Information technology | $153,724 |
| Royalties | $0 |
| Occupancy | $2,046,613 |
| Travel | $853 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,408 |
| Interest | $363,623 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,326,994 |
| Insurance | $227,100 |
| All other expenses | $486,777 |
| Total functional expenses | $22,182,475 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,805 |
| Savings and temporary cash investments | $14,737,670 |
| Pledges and grants receivable | $89 |
| Accounts receivable, net | $645,197 |
| 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 | $394,219 |
| Net Land, buildings, and equipment | $67,408,351 |
| Investments—publicly traded securities | $6,735,648 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $92,513 |
| Other assets | $186,449 |
| Total assets | $90,201,941 |
| Accounts payable and accrued expenses | $1,714,380 |
| Grants payable | $0 |
| Deferred revenue | $67,518,053 |
| Tax-exempt bond liabilities | $3,675,795 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $11,635,510 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,469,820 |
| Total liabilities | $86,013,558 |
| Net assets without donor restrictions | $1,624,569 |
| Net assets with donor restrictions | $2,563,814 |
| 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 | $90,201,941 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Homestead Village Inc has recieved totaling $8,689.
| Awarding Organization | Amount |
|---|---|
Christian Community Foundation Inc Colorado Springs, CO PURPOSE: GENERAL SUPPORT | $8,689 |
Endowment Analysis
| Beg. Balance | $808,552 |
| Earnings | $1,373,389 |
| Ending Balance | $2,181,941 |
Peer Organizations
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|---|---|---|
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Messiah Home Mechanicsburg, PA | $178,549,269 | $51,412,413 |
Fellowship Senior Living Inc Basking Ridge, NJ | $187,391,253 | $47,338,549 |
Brethren Home Community New Oxford, PA | $203,107,620 | $47,521,434 |
Maple Knoll Communities Inc Cincinnati, OH | $123,123,326 | $44,611,272 |
The Mennonite Home Lancaster, PA | $196,485,253 | $48,109,566 |
The Village At Rockville Inc Frederick, MD | $175,992,547 | $34,000,172 |
Landis Homes Retirement Community Lititz, PA | $172,325,737 | $44,637,724 |
Asbury Inc Frederick, MD | $80,704,465 | $39,927,876 |
Otterbein Lebanon Lebanon, OH | $186,378,501 | $44,867,411 |
United Methodist Homes Of New Jersey Neptune, NJ | $66,409,487 | $39,329,714 |
Meadowood Corporation Worcester, PA | $160,208,688 | $42,941,264 |