Cortland Acres Association Inc
- Assets
- $14.4m
- Revenue
- $14.4m
- Investments
- $0.0
- Employees
- 166
- Location
- Thomas, WV
- Founding
- 11/1970
- Data as of
- 12/2023
- EIN
- 23-7040648
Organization Overview
Cortland Acres Association Inc is located in Thomas, WV. The organization was established in 1970. 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 12/2023, Cortland Acres Association Inc employed 166 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cortland Acres Association 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 12/2023, Cortland Acres Association Inc generated $14.4m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 4.0% each year. All expenses for the organization totaled $15.2m during the year ending 12/2023. While expenses have increased by 5.6% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
HELPING PEOPLE AGE IN HEALTHY, AFFORDABLE, AND MEANINGFUL WAYS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CORTLAND ACRES HAS A 94 BED SKILLED NURSING FACILITY, A 24 UNIT APARTMENT COMPLEX, AND NINE INDEPENDENT LIVING HOMES CONSISTING OF 25 UNITS. THE NURSING HOME HAS 30,708 PATIENT DAYS IN 2023. APPROXIMATELY 73% OF THOSE SERVED QUALIFY FOR THE MEDICAID PROGRAM WHICH IS DESIGNED TO HELP PAY FOR HEALTH CARE SERVICES FOR THOSE WHO CANNOT AFFORD SERVICES WITH THEIR OWN FINANCIAL RESOURCES. CORTLAND INCURRED $158,965 OF CHARITY CARE DURING 2023. THE NURSING HOME HAD A 89.5% AND 78% OCCUPANCY RATE IN 2023 AND 2022 RESPECTIVELY. THE APARTMENT COMPLEX IS DESIGNED TO HOUSE THE ELDERLY AND/OR HANDICAPPED. RENTS ARE SUBSIDIZED THROUGH HOUSING AND URBAN DEVELOPMENT ENABLING LOW-INCOME RESIDENTS TO BE SERVED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dewey Rice Treasurer | OfficerTrustee | 1 | $0 |
James Snyder Board Member | Trustee | 1 | $0 |
Margaret Debolt Board Member | Trustee | 1 | $0 |
Mark Teets Board Member | Trustee | 1 | $0 |
Sam Goughnour Vice President | OfficerTrustee | 1 | $0 |
Pat A Nichols President | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Fusion Medical Staffing Llc Employee Contracting | 12/30/23 | $1,753,045 |
Odyssey Rehabilitation Employee Contracting | 12/30/23 | $1,172,112 |
Mlk Staffing Llc Employee Contracting | 12/30/23 | $871,854 |
Onestaff Medical Llc Employee Contracting | 12/30/23 | $608,085 |
24hournurse Employee Contracting | 12/30/23 | $559,524 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $15,458 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,939 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $19,397 |
| Total Program Service Revenue | $14,173,973 |
| Investment income | $71,991 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $61,490 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $14,418,221 |
| 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. | $614,608 |
| Compensation of current officers, directors, key employees. | $414,363 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,430,309 |
| Pension plan accruals and contributions | $179,837 |
| Other employee benefits | $656,513 |
| Payroll taxes | $459,667 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $32,452 |
| Fees for services: Accounting | $67,873 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $11,642 |
| Fees for services: Other | $5,184,556 |
| Advertising and promotion | $32,380 |
| Office expenses | $1,305,940 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $442,269 |
| Travel | $19,622 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,810 |
| Interest | $69,583 |
| Payments to affiliates | $16,675 |
| Depreciation, depletion, and amortization | $601,651 |
| Insurance | $388,102 |
| All other expenses | $695,400 |
| Total functional expenses | $15,212,889 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $20,647 |
| Savings and temporary cash investments | $3,420,775 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,321,950 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $34,430 |
| Prepaid expenses and deferred charges | $212,078 |
| Net Land, buildings, and equipment | $8,190,045 |
| Investments—publicly traded securities | $1,207,516 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $25,556 |
| Total assets | $14,432,997 |
| Accounts payable and accrued expenses | $1,047,864 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $25,994 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $2,103,941 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,194,445 |
| Total liabilities | $6,372,244 |
| Net assets without donor restrictions | $8,060,753 |
| Net assets with donor restrictions | $0 |
| 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 | $14,432,997 |