Sunset Retirement Communities Inc
- Assets
- $108.2m
- Revenue
- $24.6m
- Investments
- $41.4m
- Employees
- 501
- Location
- Toledo, OH
- Founding
- 10/1938
- Data as of
- 12/2021
- EIN
- 34-4428230
Organization Overview
Sunset Retirement Communities Inc is located in Toledo, OH. The organization was established in 1938. According to its NTEE Classification (P75) the organization is classified as: Supportive Housing for Older Adults, under the broad grouping of Human Services and related organizations. As of 12/2021, Sunset Retirement Communities Inc employed 501 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sunset Retirement Communities 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 12/2021, Sunset Retirement Communities Inc generated $24.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.2% each year. All expenses for the organization totaled $19.8m during the year ending 12/2021. While expenses have increased by 2.9% 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
SUNSET RETIREMENT PROVIDES DESIRABLE SENIOR CARE FACILITIES TO APPROXIMATELY 300 RESIDENTS.
Describe the Organization's Program Activity:
SUNSET RETIREMENT COMMUNITIES IS LICENSED TO PARTICIPATE IN THE OHIO MEDICAID PROGRAMS FOR BOTH SKILLED NURSING CARE AND ASSISTED LIVING WAIVER. THESE PROGRAMS PROVIDE COVERAGE TO INDIVIDUALS WHO MEET CERTAIN REQUIREMENTS SUCH AS LEVELS OF CARE AND INCOME/ASSET BASED RESTRICTIONS. THE REIMBURSEMENT RATE SUNSET RETIREMENT COMMUNITIES RECEIVES FROM THESE MEDICAID PROGRAMS IS LESS THAN THE MARKET RATE AS WELL AS THE COST TO PROVIDE THESE SERVICES. DURING 2021, THE REIMBURSEMENT SRC RECEIVED FROM MEDICAID WAS $2,875,861 LESS THAN THE COST TO PROVIDE THE CARE TO THOSE RESIDENTS.
SUNSET RETIREMENT COMMUNITIES PROVIDES PERSONAL CARE AND LONG-TERM RESIDENCY TO ELDERLY MEN AND WOMEN. CARE INCLUDES BUT IS NOT LIMITED TO BATHING, DRESSING, GROOMING, MOBILITY AND ADMINISTRATION OF MEDICATION. ACCOMODATIONS INCLUDE ASSISTED LIVING AND CONGREGATE CARE APARTMENTS AND SKILLED OR LONG-TERM CARE NURSING ROOMS. THE ORGANIZATION PROVIDES CHARITABLE CARE TO RESIDENTS WITH LIMITED FINANCIAL MEANS AND WHO HAVE NO FAMILY OR FRIENDS TO CARE FOR THEM. IN ADDITION, THE ORGANIZATION FINANCIALLY SUPPORTS THOSE WHO HAVE OUTLIVED THEIR FINANCIAL ASSETS DURING THEIR RESIDENCY AT SRC, BUT WHO DO NOT MEET MEDICAID REQUIREMENTS. DURING 2021, $60,402 OF COST WAS SUBSIDIZED BY SRC ON BEHALF OF THOSE RESIDENTS WITHOUT THE FINANCIAL MEANS TO PAY OR HAD OUTLIVED THEIR FINANCIAL ASSETS.
THE ORGANIZATION PROVIDES VARIOUS SERVICES TO THE COMMUNITY FREE OF CHARGE. THESE SERVICES INCLUDE COMMUNITY HEALTH SCREENINGS, HEALTH AND WELLNESS EDUCATION PROGRAMS, HANDS-ON-TRAINING TO MEDICAL STUDENTS, FOOD AND CLOTHING DRIVES, USE OF MEETING SPACE WITHIN OUR FACILITIES, STAFF TIME DEVOTED TO PARTICIPATING IN VARIOUS SERVICE ORGANIZATIONS AND ASSISTING FAMILY MEMBERS WITH UNDERSTANDING INSURANCE AND BENEFITS. THE ORGANIZATION'S COST RELATED TO THESE COMMUNITY SERVICES WAS $27,585.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Minard Former CFO | 1 | $200,455 | |
Judith Bishop-Pierce Former COO | 1 | $194,811 | |
Vicky Bartlett Trustee | Trustee | 1 | $73,089 |
Mary Beth Knake Secretary | OfficerTrustee | 1 | $0 |
Kathleen Ryan Vice Chair | OfficerTrustee | 1 | $0 |
Jill Wilson President/ceo | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Adaptive Rehab Services Llc Rehab Services | 12/30/21 | $776,522 |
Hoffman & Harpst Hvac Contractor | 12/30/21 | $250,818 |
Medical Staffing Network Staffing | 12/30/21 | $202,904 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,115,015 |
| All other contributions, gifts, grants, and similar amounts not included above | $137,489 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,252,504 |
| Total Program Service Revenue | $18,779,911 |
| Investment income | $2,409,507 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $695,774 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $24,563,176 |
| 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. | $484,834 |
| Compensation of current officers, directors, key employees. | $85,333 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $8,700,162 |
| Pension plan accruals and contributions | $204,892 |
| Other employee benefits | $891,302 |
| Payroll taxes | $750,335 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $32,730 |
| Fees for services: Accounting | $48,721 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $140,902 |
| Fees for services: Other | $1,082,007 |
| Advertising and promotion | $139,508 |
| Office expenses | $84,509 |
| Information technology | $92,973 |
| Royalties | $0 |
| Occupancy | $1,121,360 |
| Travel | $35,417 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,614 |
| Interest | $626,262 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,930,242 |
| Insurance | $0 |
| All other expenses | $968,768 |
| Total functional expenses | $19,754,036 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $549 |
| Savings and temporary cash investments | $3,973,820 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,743,053 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $77,450 |
| Prepaid expenses and deferred charges | $68,574 |
| Net Land, buildings, and equipment | $38,752,670 |
| Investments—publicly traded securities | $8,728,286 |
| Investments—other securities | $41,355,449 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $13,490,722 |
| Total assets | $108,190,573 |
| Accounts payable and accrued expenses | $5,112,807 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $17,922,352 |
| 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 | $23,035,159 |
| Net assets without donor restrictions | $82,045,160 |
| Net assets with donor restrictions | $3,110,254 |
| 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 | $108,190,573 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Sunset Retirement Communities Inc has recieved totaling $11,026.
| Awarding Organization | Amount |
|---|---|
Catherine B Shoemaker Fund Brooklyn, OH PURPOSE: FUNDS TO BE USED FOR ORG'S | $6,752 |
Webster H Sturdivant Tr 27-6251-00-6 Brooklyn, OH PURPOSE: FUNDS TO BE USED FOR ORG'S | $2,224 |
Morgan Stanley Foundation Inc New York, NY PURPOSE: VOLUNTEER INCENTIVE PROGRAM | $2,000 |
Emma L Boice Hays 3-2031-0 Pittsburgh, PA PURPOSE: GENERAL SUPPORT | $50 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Messiah Home Mechanicsburg, PA | $178,549,269 | $51,412,413 |
Brethren Home Community New Oxford, PA | $203,107,620 | $47,521,434 |
Maple Knoll Communities Inc Cincinnati, OH | $123,123,326 | $44,611,272 |
The Mennonite Home Lancaster, PA | $196,485,253 | $48,109,566 |
Masonic Homes Of Kentucky Inc Masonic Home, KY | $92,700,057 | $43,584,418 |
United Methodist Retirement Communities Inc Chelsea, MI | $156,901,085 | $36,318,347 |
Michigan Masonic Home Alma, MI | $52,789,973 | $43,622,202 |
Henry Ford Village Inc Dearborn, MI | $17,115,339 | $84,991,852 |
Landis Homes Retirement Community Lititz, PA | $172,325,737 | $44,637,724 |
Otterbein Lebanon Lebanon, OH | $186,378,501 | $44,867,411 |
Meadowood Corporation Worcester, PA | $160,208,688 | $42,941,264 |
Garden Spot Village New Holland, PA | $169,543,574 | $40,104,692 |