American Seniors Foundation Inc
- Assets
- $422.2k
- Revenue
- $53.6k
- Investments
- $394.9k
- Employees
- 0
- Location
- Brentwood, TN
- Founding
- 02/1991
- Data as of
- 12/2023
- EIN
- 31-1214434
Organization Overview
American Seniors Foundation Inc is located in Brentwood, TN. The organization was established in 1991. 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. American Seniors 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 12/2023, American Seniors Foundation Inc generated $53.6k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 13.8% each year . All expenses for the organization totaled $95.4k during the year ending 12/2023. While expenses have increased by 0.7% per year over the past 8 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
OWNED AND LEASED A RETIREMENT COMMUNITY FOR MODERATE INCOME SENIORS IN OKLAHOMA UNTIL JUNE, 2014. PROVIDED SCHOLARSHIPS TO INDIVIDUALS WHO WANTED TO BECOME NURSES IN THE LONG-TERM CARE FIELD.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN 2005 THE ORGANIZATION ACQUIRED A 235-UNIT CONTINUING CARE RETIREMENT FACILITY CONSISTING OF 78 INDEPENDENT-LIVING, 44 ASSISTED-LIVING AND 113 NURSING UNITS LOCATED IN EDMOND, OK.ALTHOUGH THE DOWN ECONOMY GREATLY AFFECTED THE FINANCIAL PERFORMANCE OF THE ORGANIZATION'S OKLAHOMA RETIREMENT COMMUNITY, CHARITABLE ASSISTANCE WAS PROVIDED TO RESIDENTS AND PATIENTS. ALSO, APPROXIMATELY $250,000 WAS SPENT ON REFURBISHMENTS OF THE COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
R Murray Hatcher Jr Secretary/tr | 0 | $25,500 | |
R Murray Hatcher Sr President/ce | 0 | $39,900 | |
John Simmonds Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $50 |
| Dividends & Interest | $49,083 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $4,450 |
| Capital Gain Net Income | $4,455 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $53,583 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $65,400 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,281 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $12,450 |
| Total operating and administrative expenses | $82,388 |
| Contributions, gifts, grants paid | $13,000 |
| Total expenses and disbursements | $95,388 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $27,264 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $394,933 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $422,197 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, American Seniors Foundation Inc has awarded $13,000 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
TENNESSEE GOLF FOUNDATION PURPOSE: UNRESTRICTED GIFT | $2,500 |
FRIENDS OF WARNER PARKS PURPOSE: UNRESTRICTED GIFT | $4,500 |
ST JUDE CHILDRENS HOSPITAL PURPOSE: UNRESTRICTED GIFT | $4,500 |
TUNNEL TO TOWERS FOUNDATION PURPOSE: UNRESTRICTED GIFT | $1,500 |