Grace Adult Homes
- Assets
- $3.4m
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 89
- Location
- Nashville, TN
- Founding
- 10/2007
- Data as of
- 12/2020
- EIN
- 26-0497909
Organization Overview
Grace Adult Homes is located in Nashville, TN. The organization was established in 2007. 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 12/2020, Grace Adult Homes employed 89 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Grace Adult Homes 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 12/2020, Grace Adult Homes generated $1.6m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 0.4% each year. All expenses for the organization totaled $2.0m during the year ending 12/2020. While expenses have increased by 1.8% 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
TO BETTER THE ELDERLY THROUGH THE DEVELOPMENT OF LIVING COMMUNITIES WHICH PROVIDE LONG-TERM CARE SERVICE AND MEET THE PSYCHOLOGICAL NEEDS THROUGH RECREATION AND SOCIAL ACTIVITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO DEVELOP, ACQUIRE, CONSTRUCT, AND MAINTAIN BUILDINGS AND PROPERTY FOR PROVIDING LONG-TERM CARE SERVICE INCLUDING QUALITY ASSISTED LIVING CONTAINING FACILITIES FOR RECREATION, INSTRUCTION, EDUCATION; AND TO MINISTER TO THE INDIVIDUAL PHYSICAL, SOCIAL, AND PSYCHOLOGICAL NEEDS OF THE ELDERLY RESIDENTS OF THE FACILITIES.
TO DEVELOP, ACQUIRE, CONSTRUCT, AND MAINTAIN BUILDINGS AND PROPERTY FOR PROVIDING LONG-TERM CARE SERVICE INCLUDING QUALITY ASSISTED LIVING CONTAINING FACILITIES FOR RECREATION, INSTRUCTION, EDUCATION; AND TO MINISTER TO THE INDIVIDUAL PHYSICAL, SOCIAL, AND PSYCHOLOGICAL NEEDS OF THE ELDERLY RESIDENTS OF THE FACILITIES.
TO DEVELOP, ACQUIRE, CONSTRUCT, AND MAINTAIN BUILDINGS AND PROPERTY FOR PROVIDING LONG-TERM CARE SERVICE INCLUDING QUALITY ASSISTED LIVING CONTAINING FACILITIES FOR RECREATION, INSTRUCTION, EDUCATION; AND TO MINISTER TO THE INDIVIDUAL PHYSICAL, SOCIAL, AND PSYCHOLOGICAL NEEDS OF THE ELDERLY RESIDENTS OF THE FACILITIES.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joe N Steakley Treasurer | OfficerTrustee | 4 | $0 |
T Greer Carr President | OfficerTrustee | 4 | $0 |
Joe Wall Vice President | OfficerTrustee | 4 | $0 |
Bill Brewer Secretary | OfficerTrustee | 4 | $0 |
Shane Berry Board Member | Trustee | 2 | $0 |
Brock Brewer Board Member | Trustee | 2 | $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 | $1,500 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,500 |
| Total Program Service Revenue | $1,635,197 |
| Investment income | $61 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $1,636,758 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $327 |
| Payroll taxes | $0 |
| Fees for services: Management | $64,793 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $14,325 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $66,375 |
| Office expenses | $62,215 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $116,701 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $228,973 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $170,511 |
| Insurance | $174,552 |
| All other expenses | $147,572 |
| Total functional expenses | $1,958,772 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $184,846 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $956 |
| 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 | $3,063 |
| Net Land, buildings, and equipment | $2,925,789 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $236,545 |
| Total assets | $3,351,199 |
| Accounts payable and accrued expenses | $530,617 |
| Grants payable | $0 |
| Deferred revenue | $30,043 |
| 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 | $4,490,517 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $5,051,177 |
| Net assets without donor restrictions | -$1,699,978 |
| 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 | $3,351,199 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Grace Adult Homes has recieved totaling $25,000.
| Awarding Organization | Amount |
|---|---|
Memorial Foundation Inc Hendersonville, TN PURPOSE: TO FURTHER EXEMPT PURPOSES | $25,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Masonic Home Independent Living Ii Inc Masonic Home, KY | $142,516,912 | $16,410,935 |
The Glebe Inc Glen Allen, VA | $79,347,451 | $20,057,701 |
Cypress Of Charlotte Club Inc Charlotte, NC | $4,602,507 | $19,033,502 |
Lavender Mountain Senior Living Inc Mount Berry, GA | $141,195,331 | $5,176,789 |
Lewis Memorial Christian Village St Louis, MO | $48,381,888 | $18,539,239 |
Alliance Foundation Of Florida Inc Fairfax, VA | $3,980,019 | $2,209,632 |
Skidaway Health And Living Services Inc Savannah, GA | $89,340,251 | $17,567,308 |
Lake Prince Center Inc Newton, NC | $22,105,583 | $13,762,352 |
Bethesda Senior Living Inc St Louis, MO | $51,618,462 | $21,887,696 |
St George Village-Catholic Community Retirement Center Roswell, GA | $71,436,640 | $13,654,810 |
Wesley Homes Inc Atlanta, GA | $20,385,914 | $13,715,520 |
Ascension Living St Josephs Place St Louis, MO | $4,321,699 | $10,048,522 |