Evangelical Retirement Homes Of Greater Chicago Inc
- Assets
- $109.9m
- Revenue
- $50.4m
- Investments
- $0.0
- Employees
- 0
- Location
- Schaumburg, IL
- Founding
- 08/1975
- Data as of
- 03/2023
- EIN
- 36-2815382
Organization Overview
Evangelical Retirement Homes Of Greater Chicago Inc, operating under the name Friendship Village Of Schaumburg, is located in Schaumburg, IL. The organization was established in 1975. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Friendship Village Of Schaumburg 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 03/2023, Friendship Village Of Schaumburg generated $50.4m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.5%) each year. All expenses for the organization totaled $64.3m during the year ending 03/2023. 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 MATURE ADULTS WITH EXCEPTIONAL LIVING CHOICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EVANGELICAL RETIREMENT HOMES OF GREATER CHICAGO DBA: FRIENDSHIP VILLAGE OF SCHAUMBURG IS A LIFE PLAN COMMUNITY PROVIDING LIVING ARRANGEMENTS AND SERVICES TO SENIORS. CAMPUS WIDE SERVICES INCLUDE DINING, ACTIVITIES, MAINTENANCE, HOUSEKEEPING, WELLNESS PROGRAMS, SUPPORTIVE SERVICES, AND 24 HOUR SECURITY. THE INDEPENDENT LIVING AREA (527 RESIDENCES) OFFERS A VARIETY OF PRIVATE LIVING ARRANGEMENTS, A FITNESS CENTER, AND OTHER AMENITIES. THE CAMPUS ALSO HAS 28 GARDEN HOMES, 85 ASSISTED LIVING APARTMENTS, 24 MEMORY SUPPORT UNITS, AND A 199 BED SKILLED HEALTH CARE FACILITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mary Sheahen Chair & Secretary | OfficerTrustee | 0.2 | $750 |
Loren Trimble Treasure | OfficerTrustee | 0.2 | $0 |
Catherine Tardy Director | OfficerTrustee | 0.2 | $750 |
Jean Schlinkmann Director | OfficerTrustee | 0.2 | $750 |
Kathleen Rivera Director & Chair | OfficerTrustee | 0.2 | $900 |
Michael Flynn CEO | Officer | 16 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Riehle Development Contractor | 3/30/23 | $3,097,780 |
Morrison Management Specialists Dining Service | 3/30/23 | $8,137,164 |
Davis Harrison Dion Advertising Agency | 3/30/23 | $1,196,661 |
Friendship Senior Options Nfp Management | 3/30/23 | $6,270,000 |
Symbria Rehab Inc Health Consultant | 3/30/23 | $2,450,850 |
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 | $50,745,584 |
| Investment income | $208,330 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$572,805 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $50,389,165 |
| 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. | $1,800 |
| Compensation of current officers, directors, key employees. | $1,800 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $17,444,536 |
| Pension plan accruals and contributions | -$709 |
| Other employee benefits | $2,813,789 |
| Payroll taxes | $0 |
| Fees for services: Management | $6,270,000 |
| Fees for services: Legal | $841,658 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $89,712 |
| Fees for services: Other | $11,041,150 |
| Advertising and promotion | $2,117,321 |
| Office expenses | $412,213 |
| Information technology | $110,966 |
| Royalties | $0 |
| Occupancy | $3,038,790 |
| Travel | $50,542 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,047 |
| Interest | $5,961,706 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,689,358 |
| Insurance | $1,522,113 |
| All other expenses | $103,569 |
| Total functional expenses | $64,254,635 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,664 |
| Savings and temporary cash investments | $934,919 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,025,213 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $116,714 |
| Prepaid expenses and deferred charges | $938,161 |
| Net Land, buildings, and equipment | $89,762,015 |
| Investments—publicly traded securities | $7,196,890 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $8,891,455 |
| Total assets | $109,870,031 |
| Accounts payable and accrued expenses | $9,587,000 |
| Grants payable | $0 |
| Deferred revenue | $6,637,529 |
| Tax-exempt bond liabilities | $112,871,960 |
| 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 | $106,229,883 |
| Total liabilities | $235,326,372 |
| Net assets without donor restrictions | -$125,456,341 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $109,870,031 |