Waverly Heights Ltd
- Assets
- $173.2m
- Revenue
- $38.3m
- Investments
- $1.9m
- Employees
- 399
- Location
- Gladwyne, PA
- Founding
- 11/1992
- Data as of
- 12/2021
- EIN
- 23-2212842
Organization Overview
Waverly Heights Ltd is located in Gladwyne, PA. The organization was established in 1992. 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, Waverly Heights Ltd employed 399 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Waverly Heights Ltd 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, Waverly Heights Ltd generated $38.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.4% each year. All expenses for the organization totaled $35.8m during the year ending 12/2021. While expenses have increased by 3.2% 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE SENIORS AN EXCEPTIONAL LIFESTYLE WITHIN A COMPASSIONATE & RESPECTFUL COMMUNITY
Describe the Organization's Program Activity:
A LIFE PLAN COMMUNITY PROVIDING QUALITY LIFECARE SERVICES TO ITS RESIDENTS WHILE SERVING THEIR PHYSICAL, EMOTIONAL, RECREATIONAL, SOCIAL, SPIRITUAL AND HEALTH NEEDS. THESE SERVICES ARE PROVIDED TO RESIDENTS THROUGH THE OPERATION OF 220 INDEPENDENT LIVING UNITS, A 31 PRIVATE ROOMS SKILLED NURSING FACILITY AND A 49 PRIVATE ROOMS PERSONAL CARE FACILITY. OF THE 49 PRIVATE PERSONAL CARE ROOMS, 16 ARE PRIVATE MEMORY SUPPORT ROOMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas P Garvin President & CEO | Officer | 45 | $596,178 |
Robert L Supper Senior VP & CFO | Officer | 45 | $332,639 |
Meredith Feher Senior VP Of Health Care Svcs | Officer | 45 | $265,208 |
Patricia Rodgers VP & Director Of Wca Operations | 45 | $241,367 | |
Janet Thompson VP Of Marketing | 45 | $200,965 | |
Jacqueline Donnelly Director Of Nursing | 45 | $172,221 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
C Raymond Davis & Sons Inc Construction Services | 12/30/21 | $1,427,766 |
Unidine Corporation Food Service | 12/30/21 | $2,081,161 |
Liberty Builders Pa Inc Construction Services | 12/30/21 | $1,271,080 |
Select Rehabilitation Llc Therapy Services | 12/30/21 | $769,478 |
Parkway Clinical Laboratories Inc Health Services | 12/30/21 | $341,445 |
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 | $767,024 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $767,024 |
| Total Program Service Revenue | $30,219,446 |
| Investment income | $3,638,405 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $74,689 |
| Net Gain/Loss on Asset Sales | $2,648,368 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $38,333,500 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,500 |
| Grants and other assistance to domestic individuals. | $4,794 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,274,320 |
| Compensation of current officers, directors, key employees. | $1,274,320 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $11,835,050 |
| Pension plan accruals and contributions | $1,006,787 |
| Other employee benefits | $2,153,014 |
| Payroll taxes | $953,559 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $23,826 |
| Fees for services: Accounting | $89,445 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $92,572 |
| Fees for services: Other | $1,724,068 |
| Advertising and promotion | $99,312 |
| Office expenses | $368,332 |
| Information technology | $258,262 |
| Royalties | $0 |
| Occupancy | $2,939,477 |
| Travel | $49,746 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $40,380 |
| Interest | $1,804,076 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,082,824 |
| Insurance | $411,668 |
| All other expenses | $0 |
| Total functional expenses | $35,763,651 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,369,340 |
| Savings and temporary cash investments | $3,635,833 |
| Pledges and grants receivable | $1,121,901 |
| Accounts receivable, net | $8,435,587 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $70,021 |
| Prepaid expenses and deferred charges | $876,036 |
| Net Land, buildings, and equipment | $90,918,675 |
| Investments—publicly traded securities | $63,707,650 |
| Investments—other securities | $1,894,000 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $175,810 |
| Total assets | $173,204,853 |
| Accounts payable and accrued expenses | $5,780,791 |
| Grants payable | $0 |
| Deferred revenue | $130,054,421 |
| Tax-exempt bond liabilities | $46,096,544 |
| 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 | $1,129,695 |
| Total liabilities | $183,061,451 |
| Net assets without donor restrictions | -$11,913,240 |
| Net assets with donor restrictions | $2,056,642 |
| 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 | $173,204,853 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Waverly Heights Ltd has recieved totaling $6,000.
| Awarding Organization | Amount |
|---|---|
Le Vine Family Foundation Bryn Mawr, PA PURPOSE: WAVERLY HEIGHTS ANNUAL FUND | $5,000 |
Louis And Bessie Stein Foundation Villanova, PA PURPOSE: GENERAL SUPPORT. | $1,000 |
Endowment Analysis
| Beg. Balance | $1,863,529 |
| Net Contributions | $767,024 |
| Other Expense | $573,911 |
| Ending Balance | $2,056,642 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Willow Valley Communities Lancaster, PA | $552,338,395 | $126,609,439 |
Isabella Geriatric Center Inc Brooklyn, NY | $130,669,713 | $93,043,151 |
Oak Crest Village Inc Parkville, MD | $495,556,334 | $90,971,954 |
United Church Homes Inc Marion, OH | $230,951,491 | $117,776,158 |
Menorah Park Center For Senior Living Beachwood, OH | $96,877,128 | $72,312,185 |
Seabrook Village Inc Tinton Falls, NJ | $317,428,948 | $63,950,386 |
Spiritrust Lutheran York, PA | $151,346,375 | $71,838,005 |
Otterbein Homes Lebanon, OH | $197,247,651 | $73,479,652 |
Humangood Pennsylvania Lafayette Hill, PA | $322,351,436 | $66,729,303 |
Albright Care Services Frederick, MD | $96,340,327 | $64,491,895 |
Menno-Haven Inc Chambersburg, PA | $224,712,119 | $60,604,024 |
Kendal-Crosslands Communities Kennett Square, PA | $254,475,918 | $64,274,930 |