Rachel Sovereign Memorial Home
- Assets
- $969.8k
- Revenue
- $648.7k
- Investments
- $826.0k
- Employees
- 30
- Location
- Bay City, MI
- Founding
- 01/1973
- Data as of
- 10/2021
- EIN
- 38-1360591
Organization Overview
Rachel Sovereign Memorial Home is located in Bay City, MI. The organization was established in 1973. 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 10/2021, Rachel Sovereign Memorial Home employed 30 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rachel Sovereign Memorial Home 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 10/2021, Rachel Sovereign Memorial Home generated $648.7k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 4.2% each year. All expenses for the organization totaled $665.5k during the year ending 10/2021. While expenses have increased by 3.8% per year over the past 6 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 A FACILITY FOR HOUSING, FEEDING, AND CARING OF ELDERLY WOMEN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE ROOM AND BOARD FOR ELDERLY WOMEN
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michelle Martin Treasurer | OfficerTrustee | 1 | $0 |
Denise Mcquillan Recording Secretary | OfficerTrustee | 1 | $0 |
Karen Neill Asst. Recording Secretary | OfficerTrustee | 1 | $0 |
Elizabeth Martin Corresponding Secretary | OfficerTrustee | 1 | $0 |
Sue David Asst. Corresponding Secret | OfficerTrustee | 1 | $0 |
Barbara Bierlein Vice President | OfficerTrustee | 1 | $0 |
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 | $13,929 |
| Noncash contributions included in lines 1a–1f | $6,500 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $13,929 |
| Total Program Service Revenue | $557,995 |
| Investment income | $18,500 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $56,198 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $648,692 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $414,410 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $34,680 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,070 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $9,320 |
| Advertising and promotion | $0 |
| Office expenses | $7,323 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $63,605 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $11,398 |
| Insurance | $22,127 |
| All other expenses | $24,187 |
| Total functional expenses | $665,494 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,318 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $9,081 |
| 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 | $2,996 |
| Net Land, buildings, and equipment | $127,344 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $826,045 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $969,784 |
| Accounts payable and accrued expenses | $27,005 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| 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 | $27,005 |
| Net assets without donor restrictions | $615,413 |
| Net assets with donor restrictions | $327,366 |
| 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 | $969,784 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Rachel Sovereign Memorial Home has recieved totaling $29,252.
| Awarding Organization | Amount |
|---|---|
Joseph And Karen Krantz Family Charitable Tr Bay City, MI PURPOSE: GEN'L FUND | $18,252 |
Nickless Family Charitable Foundation Saginaw, MI PURPOSE: UNRESTRICTED PURPOSES | $11,000 |
Endowment Analysis
| Beg. Balance | $707,606 |
| Earnings | $157,740 |
| Other Expense | $39,301 |
| Ending Balance | $826,045 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
United Church Homes Inc Marion, OH | $230,951,491 | $117,776,158 |
Menorah Park Center For Senior Living Beachwood, OH | $96,877,128 | $72,312,185 |
Otterbein Homes Lebanon, OH | $197,247,651 | $73,479,652 |
Bhi Senior Living Inc Indianapolis, IN | $339,336,234 | $58,133,040 |
Mcgregor Pace Cleveland, OH | $22,344,459 | $56,283,069 |
Maple Knoll Communities Inc Cincinnati, OH | $123,123,326 | $44,611,272 |
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 |
Otterbein Lebanon Lebanon, OH | $186,378,501 | $44,867,411 |
Lindengrove Inc Brookfield, WI | $53,159,981 | $37,652,858 |
Benevolent Corporation Cedar Community West Bend, WI | $115,395,812 | $41,115,280 |