The Methodist Retirement Center Of Central Ohio
- Assets
- $98.3m
- Revenue
- $19.1m
- Investments
- $0.0
- Employees
- 327
- Location
- Columbus, OH
- Founding
- 12/1965
- Data as of
- 12/2021
- EIN
- 31-0711146
Organization Overview
The Methodist Retirement Center Of Central Ohio, operating under the name The Wesley Communities, is located in Columbus, OH. The organization was established in 1965. According to its NTEE Classification (P19) the organization is classified as: Support N.E.C., under the broad grouping of Human Services and related organizations. As of 12/2022, Wesley Communities employed 327 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wesley Communities 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, Wesley Communities generated $19.1m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 36.0% each year . All expenses for the organization totaled $19.4m during the year ending 12/2021. While expenses have increased by 29.5% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE SUPPORTING SERVICES TO RELATED ORGANIZATIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
METHODIST RETIREMENT CENTER OF CENTRAL OHIO MANAGES AND OVERSEES TO OPERATIONS OF ITS SIX OPERATIONS IN CENTRAL OHIO. PLEASE SEE DISCLOSURE IN SCH O FOR EXPLANATION FOR DECREASE IN PROGRAM SERVICE EXPENSES AND REVENUE.
WESLEY WOODS AT NEW ALBANY, LLC PROVIDES ITS RESIDENTS WITH NURSING CARE BEDS (16) OR ASSISTED LIVING UNITS (35) IF THEY ARE NOT ABLE TO LIVE INDEPENDENTLY, OR APARTMENTS OR VILLAS (72) IF THEY ARE ABLE TO LIVE INDEPENDENTLY. ADDITIONAL SERVICES AVAILABLE INCLUDE SOCIAL, RECREATIONAL, THERAPY, TRANSPORTATION, CONCIERGE, HOUSEKEEPING AND MAINTENANCE.
WESLEY GLEN RETIREMENT COMMUNITY, LLC PROVIDES ITS RESIDENTS WITH APARTMENTS OR PATIO HOMES (148). ADDITIONAL SERVICES AVAILABLE INCLUDE SOCIAL, RECREATIONAL, THERAPY, TRANSPORTATION, CONCIERGE, DINING, HOUSEKEEPING AND MAINTENANCE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark J Palmer Trustee President | Trustee | 1 | $0 |
Mark E Storer Trustee Vice President (part Year) | Trustee | 0.15 | $0 |
R Thomas Slack Trustee Treasurer (part Year) | Trustee | 0.15 | $0 |
Rev H Eugene Folden Jr Trustee Secretary (part Year) | Trustee | 0.15 | $0 |
Mary Ann Short Trustee | Trustee | 1 | $0 |
Celia Conlon Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Kmm Builders Construction Services | 12/30/21 | $935,799 |
B7 Construction Construction Services | 12/30/21 | $980,976 |
Wsb Rehabilitation Services Inc Therapy Services | 12/30/21 | $218,725 |
Dinsmore And Shohl Llp Legal Services | 12/30/21 | $142,815 |
Landscape Design Solutions Landscape Services | 12/30/21 | $114,005 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $35,134 |
| All other contributions, gifts, grants, and similar amounts not included above | $172,284 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $207,418 |
| Total Program Service Revenue | $16,124,864 |
| Investment income | $719,365 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,829,673 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$5,931 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $19,081,791 |
| 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. | $675,897 |
| Compensation of current officers, directors, key employees. | $675,897 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,832,500 |
| Pension plan accruals and contributions | $43,271 |
| Other employee benefits | $1,956,760 |
| Payroll taxes | $618,023 |
| Fees for services: Management | $1,000,630 |
| Fees for services: Legal | $30,070 |
| Fees for services: Accounting | $155,989 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $644,682 |
| Advertising and promotion | $268,045 |
| Office expenses | $720,897 |
| Information technology | $286,124 |
| Royalties | $0 |
| Occupancy | $1,133,197 |
| Travel | $83,600 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,528 |
| Interest | $2,241,272 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,046,288 |
| Insurance | $264,941 |
| All other expenses | $153,745 |
| Total functional expenses | $19,374,328 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | -$687,221 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $672,388 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $91,726 |
| Prepaid expenses and deferred charges | $126,303 |
| Net Land, buildings, and equipment | $52,816,680 |
| Investments—publicly traded securities | $6,909,149 |
| Investments—other securities | $0 |
| Investments—program-related | $215,303 |
| Intangible assets | $80,000 |
| Other assets | $38,117,503 |
| Total assets | $98,341,831 |
| Accounts payable and accrued expenses | $2,552,441 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $45,428,197 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $96,101 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $34,841,047 |
| Total liabilities | $82,917,786 |
| Net assets without donor restrictions | $14,952,004 |
| Net assets with donor restrictions | $472,041 |
| 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 | $98,341,831 |