Lima Convalescent Home Foundation Inc
- Assets
- $14.7m
- Revenue
- $13.6m
- Investments
- $0.0
- Employees
- 293
- Location
- Lima, OH
- Founding
- 04/1959
- Data as of
- 09/2023
- EIN
- 34-4473976
Organization Overview
Lima Convalescent Home Foundation Inc is located in Lima, OH. The organization was established in 1959. According to its NTEE Classification (E91) the organization is classified as: Nursing Facilities, under the broad grouping of Health Care and related organizations. As of 09/2023, Lima Convalescent Home Foundation Inc employed 293 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lima Convalescent Home 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 09/2023, Lima Convalescent Home Foundation Inc generated $13.6m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.8% each year. All expenses for the organization totaled $11.5m during the year ending 09/2023. While expenses have increased by 4.7% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE HIGH QUALITY SERVICES AT AN AFFORDABLE COST FOR BOTH AN ASSISTED LIVING COMPLEX AND A NURSING HOME FACILITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SKILLED NURSING CARE - NURSING HOME FACILITY WITH HIGHLY TRAINED STAFF TO PROVIDE SKILLED CARE FOR THE ELDERLY AND CHRONICALLY ILL.
INDEPENDENT & ASSISTED LIVING - HOME FOR RESIDENTS WHO WISH TO MAINTAIN A LEVEL OF INDEPENDENCE IN A SAFE, ASSISSTED LIVING ENVIRONMENT. AN INTERMEDIATE STEP FOR SENIORS THAT ALLOWS THEM TO MAINTAIN THEIR INDEPENDENCE, KNOWING THAT HELP IS AVAILABLE IF NEEDED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Margaret Whitlatch Vice President | Officer | 0 | $18,000 |
Warner Kugler Board Member | Trustee | 0 | $0 |
Linda Hovest-Bloomfield Board Member | Trustee | 0 | $0 |
Donald Fischer Board Member | Trustee | 0 | $0 |
James Eaton Board Member | Trustee | 0 | $0 |
Robert Komminsk Board Member | Trustee | 0 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Amea Healthcare Temporary Staffing | 9/29/23 | $136,756 |
Ha Dorsten General Contractor | 9/29/23 | $226,357 |
Healthpro Therapy Services Llc Therapy Services | 9/29/23 | $247,449 |
Aramark - Vestis Uniforms/linens/supplies | 9/29/23 | $287,818 |
Gordon Foodservice Foodservice | 9/29/23 | $151,562 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,182,470 |
| All other contributions, gifts, grants, and similar amounts not included above | $581,373 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,763,843 |
| Total Program Service Revenue | $9,753,514 |
| Investment income | $47,456 |
| 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 | $13,577,418 |
| 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. | $128,328 |
| Compensation of current officers, directors, key employees. | $64,164 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,119,508 |
| Pension plan accruals and contributions | $12,778 |
| Other employee benefits | $457,216 |
| Payroll taxes | $466,723 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $10,201 |
| Fees for services: Accounting | $44,794 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $468,990 |
| Advertising and promotion | $70,411 |
| Office expenses | $135,730 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $574,819 |
| Travel | $1,374 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,668 |
| Interest | $241,104 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $720,344 |
| Insurance | $148,361 |
| All other expenses | $437,094 |
| Total functional expenses | $11,481,100 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,149,456 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $765,566 |
| 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 | $76,935 |
| Net Land, buildings, and equipment | $8,808,891 |
| Investments—publicly traded securities | $3,864,392 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $30,005 |
| Total assets | $14,695,245 |
| Accounts payable and accrued expenses | $782,186 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $5,423,576 |
| 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 | -$188,452 |
| Total liabilities | $6,017,310 |
| Net assets without donor restrictions | $8,406,009 |
| Net assets with donor restrictions | $271,926 |
| 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 | $14,695,245 |