Culpepper Garden I Incorporated
- Assets
- $22.5m
- Revenue
- $245.4k
- Investments
- $0.0
- Employees
- 5
- Location
- Arlington, VA
- Founding
- 12/1972
- Data as of
- 06/2022
- EIN
- 23-7125063
Organization Overview
Culpepper Garden I Incorporated is located in Arlington, VA. The organization was established in 1972. According to its NTEE Classification (L22) the organization is classified as: Senior Citizens Housing & Retirement Communities, under the broad grouping of Housing & Shelter and related organizations. As of 06/2022, Culpepper Garden I Incorporated employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Culpepper Garden I Incorporated 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 06/2022, Culpepper Garden I Incorporated generated $245.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (30.8%) each year. All expenses for the organization totaled $233.3k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (30.7%) per year over the past 7 years. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE LOW INCOME HOUSING AND SUPPORTIVE SERVICES FOR ELDERLY TENANTS OVER THE AGE OF 62.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE SUPPORT SERVICES FOR LOW INCOME HOUSING UNITS FOR ELDERLY TENANTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kelly Eichorn Treasurer | OfficerTrustee | 1 | $0 |
Mary Susan Philp Vice Chair | OfficerTrustee | 1 | $0 |
Brent Baxter Secretary | OfficerTrustee | 1 | $0 |
Peter Kant Chair | OfficerTrustee | 1 | $0 |
Dr J Kenneth Marshall MD Director | Trustee | 1 | $0 |
Barbara Favola Director | Trustee | 1 | $0 |
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 | $80,486 |
| Investment income | $125,612 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $39,348 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $245,446 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $90,000 |
| 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 | $72,363 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $17,038 |
| Payroll taxes | $2,747 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $25 |
| Fees for services: Accounting | $15,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $28,740 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $7,362 |
| Total functional expenses | $233,275 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $385,710 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $40,355 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $16,966,350 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $5,142,699 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $22,535,114 |
| Accounts payable and accrued expenses | $9,743 |
| Grants payable | $0 |
| Deferred revenue | $19,052,016 |
| Tax-exempt bond liabilities | $0 |
| 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 | $0 |
| Total liabilities | $19,061,759 |
| Net assets without donor restrictions | $3,473,355 |
| 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 | $22,535,114 |
Grants Awarded
Over the last fiscal year, Culpepper Garden I Incorporated has awarded $253,600 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Arlington, VA PURPOSE: FUND OPERATIONS | $200,000 |
Arlington, VA PURPOSE: FUND OPERATIONS | $53,600 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Culpepper Garden I Incorporated has recieved totaling $6,400.
| Awarding Organization | Amount |
|---|---|
Fidelity Investments Charitable Gift Fund Boston, MA PURPOSE: For grant recipient's exempt purposes | $6,400 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
King Farm Presbyterian Retirement Rockville, MD | $301,432,870 | $34,783,503 |
Arbor Acres United Methodist Retirement Community Inc Winstonsalem, NC | $155,220,604 | $40,394,713 |
Chapel Hill Residential Retirement Center Inc Chapel Hill, NC | $120,640,930 | $31,949,437 |
Stoddard Baptist Global Care Washington, DC | $21,239,255 | $34,652,539 |
Carolina Village Inc Hendersonville, NC | $124,169,436 | $34,185,742 |
Galloway Ridge Inc Pittsboro, NC | $130,866,786 | $36,150,184 |
Kenton Housing Inc Latonia, KY | $68,380,829 | $31,745,821 |
Village At Orchard Ridge Inc Frederick, MD | $155,766,299 | $22,895,299 |
Virginia Lutheran Homes Inc Roanoke, VA | $83,707,371 | $28,580,430 |
The Lutheran Village At Millers Grant Inc Westminster, MD | $146,336,066 | $23,586,793 |
Mercy Ridge Inc Timonium, MD | $148,105,442 | $23,349,399 |
Maryland Masonic Homes Ltd Cockeysville, MD | $7,522,127 | $24,357,243 |