Shady Rest Foundation Inc
- Assets
- $8.2m
- Revenue
- $1.3m
- Investments
- $7.6m
- Employees
- 0
- Location
- Fort Myers, FL
- Founding
- 03/2005
- Data as of
- 09/2021
- EIN
- 30-0274280
Organization Overview
Shady Rest Foundation Inc is located in Fort Myers, FL. The organization was established in 2005. According to its NTEE Classification (E91) the organization is classified as: Nursing Facilities, under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Shady Rest Foundation 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 09/2021, Shady Rest Foundation Inc generated $1.3m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 15.6% each year . All expenses for the organization totaled $3.9m during the year ending 09/2021. 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
SINCE SHADY REST CARE PAVILION, INC., A SKILLED NURSING FACILITY WHICH THIS ENTITY PREVIOUSLY PROVIDED SUBSTANTIAL SUPPORT HAS BEEN SOLD, THE ORGANIZATION IS CONTRIBUTING REMAINING ASSETS TO CHARITABLE ORGANIZATIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SINCE SHADY REST CARE PAVILION, INC., A SKILLED NURSING FACILITY WHICH THIS ENTITY PREVIOUSLY PROVIDED SUBSTANTIAL SUPPORT HAS BEEN SOLD, THE ORGANIZATION IS CONTRIBUTING REMAINING ASSETS TO CHARITABLE ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sandra Wharton Secretary | OfficerTrustee | 2 | $0 |
Jo Stecher Vice Chair | OfficerTrustee | 2 | $0 |
Sheila Carlson Treasurer | OfficerTrustee | 2 | $0 |
Robert L Murray President & Chair | OfficerTrustee | 2 | $0 |
Arie J Vanduijn 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 | $0 |
| Investment income | $212,650 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,035,320 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,289,773 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,880,000 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,934 |
| Fees for services: Accounting | $1,137 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $51,511 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $90 |
| 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 | $3,404 |
| All other expenses | $0 |
| Total functional expenses | $3,947,566 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $24,519 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $7,583,593 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $635,251 |
| Total assets | $8,243,363 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $0 |
| 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 | $8,243,363 |
| Total liabilities and net assets/fund balances | $8,243,363 |
Grants Awarded
Over the last fiscal year, Shady Rest Foundation Inc has awarded $3,880,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
Fort Myers, FL PURPOSE: SCHOLARSHIPS | $3,850,000 |
Fort Myers, FL PURPOSE: DEMENTIA PROGRAMS | $20,000 |
Fort Myers, FL PURPOSE: COMMUNITY OUTREACH | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Sunbelt Health Care Centers Inc Maitland, FL | $22,749,086 | $16,508,709 |
Presbyterian Home Quitman Inc Quitman, GA | $7,771,902 | $17,669,514 |
Riverview Health And Rehabiliation Center Inc Savannah, GA | $21,070,283 | $18,616,274 |
A G Rhodes Home Inc At Wesley Woods Atlanta, GA | $10,164,617 | $18,274,811 |
Health Care Authority Of The City Of Enterprise Inc Enterprise, AL | $47,734,510 | $17,693,129 |
The William Breman Jewish Home Inc Atlanta, GA | $18,781,291 | $14,662,040 |
Atlanta Association For Convalescent Aged Persons Inc Atlanta, GA | $8,854,728 | $17,049,205 |
A G Rhodes Home Inc Atlanta, GA | $7,637,141 | $15,215,050 |
Morselife Health System Inc West Palm Beach, FL | $10,528,927 | $13,921,488 |
A G Rhodes Home-Cobb Inc Marietta, GA | $8,151,086 | $14,701,269 |
Aldersgate Healthcare Inc Hialeah, FL | $6,986,890 | $12,802,083 |
Sunnyside Health Services Inc Sarasota, FL | $5,348,422 | $10,880,001 |