Clark Retirement Community Inc
- Assets
- $96.8m
- Revenue
- $24.8m
- Investments
- $0.0
- Employees
- 274
- Location
- Grand Rapids, MI
- Founding
- 08/1939
- Data as of
- 12/2022
- EIN
- 38-1366932
Organization Overview
Clark Retirement Community Inc is located in Grand Rapids, MI. The organization was established in 1939. According to its NTEE Classification (L22) the organization is classified as: Senior Citizens Housing & Retirement Communities, under the broad grouping of Housing & Shelter and related organizations. As of 12/2022, Clark Retirement Community Inc employed 274 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Clark Retirement Community 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 12/2022, Clark Retirement Community Inc generated $24.8m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (1.7%) each year. All expenses for the organization totaled $33.0m during the year ending 12/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE RETIREMENT HOUSING, HEALTHCARE, AND RELATED SERVICES TO RESIDENTS AND CLIENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CLARK RETIREMENT COMMUNITY IS THE FIRST ORGANIZATION IN THE UNITED STATES TO RECEIVE ACCREDITATION FOR DEMENTIA SERVICES BY THE COMMISSION ON ACCREDITATION OF REHABILITATION FACILITIES - CONTINUING CARE ACCREDITATION COMMITTEE (CARF-CCAC).IN FISCAL YEAR 2022, CLARK PROVIDED OVER $852,000 IN BENEVOLENT CARE GRANTS TO RESIDENTS WHO HAVE OUTLIVED THEIR PERSONAL FINANCIAL RESOURCES.DURING FISCAL YEAR 2022, CLARK RECEIVED SEVERAL NOTABLE AWARDS AND RECOGNITION FOR ITS PROGRAM SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Dattilo Director & CEO | OfficerTrustee | 2 | $0 |
Roger Weideman II Director & CFO | OfficerTrustee | 2 | $0 |
Brian Pangle Director & President | OfficerTrustee | 40 | $0 |
Jay Rumbach Director & Secretary | OfficerTrustee | 41 | $0 |
Forrest Hoppe Director | Trustee | 2 | $0 |
Mark Miller Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Unidine Corporation Dining Services | 12/30/22 | $1,847,280 |
Morrison Management Specialists Dining Services | 12/30/22 | $880,821 |
Elzinga & Volkers Inc Construction | 12/30/22 | $266,803 |
Premier Roofing Exteriors Construction | 12/30/22 | $259,112 |
Mnemonix Technology Consulting It Services | 12/30/22 | $210,839 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $325,524 |
| Government grants | $1,711,953 |
| 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 | $2,037,477 |
| Total Program Service Revenue | $21,219,350 |
| Investment income | $60,166 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $40,214 |
| 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 | $24,769,741 |
| 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. | $164,219 |
| Compensation of current officers, directors, key employees. | $164,219 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $8,257,173 |
| Pension plan accruals and contributions | $116,582 |
| Other employee benefits | $1,372,347 |
| Payroll taxes | $958,395 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $271,039 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $33,835 |
| Fees for services: Other | $8,905,157 |
| Advertising and promotion | $479,660 |
| Office expenses | $493,469 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,081,458 |
| Travel | $15,486 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $8,408 |
| Interest | $3,907,915 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,980,750 |
| Insurance | $519,543 |
| All other expenses | $343,908 |
| Total functional expenses | $33,029,875 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,094,795 |
| Savings and temporary cash investments | $13,918 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,145,244 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $118,481 |
| Prepaid expenses and deferred charges | $621,423 |
| Net Land, buildings, and equipment | $85,491,249 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,302,118 |
| Total assets | $96,787,228 |
| Accounts payable and accrued expenses | $4,493,991 |
| Grants payable | $0 |
| Deferred revenue | $27,711,678 |
| Tax-exempt bond liabilities | $57,960,000 |
| 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 | $2,094,571 |
| Total liabilities | $92,260,240 |
| Net assets without donor restrictions | $4,526,988 |
| 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 | $96,787,228 |