Clark Retirement Community Inc
- Assets
- $96.4m
- Revenue
- $20.5m
- Investments
- $7.7m
- Employees
- 288
- Location
- Grand Rapids, MI
- Founding
- 08/1939
- Data as of
- 04/2022
- 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 04/2022, Clark Retirement Community Inc employed 288 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 04/2022, Clark Retirement Community Inc generated $20.5m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (4.6%) each year. All expenses for the organization totaled $26.0m during the year ending 04/2022. As we would expect to see with falling revenues, expenses have declined by (1.4%) per year over the past 7 years. 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 $859,000 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. CLARK WAS VOTED AS ONE OF THE BEST AND BRIGHTEST TO WORK FOR IN 2021.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brian Pangle CEO | OfficerTrustee | 40 | $302,763 |
Nicole Swart VP Of Operations | Officer | 40 | $162,846 |
Joann Abraham VP Development/foundation Executive | 40 | $113,494 | |
Lauann Shawver VP Sales, Marketing & Communications | 40 | $111,397 | |
Brian Morrill Director Of Information Technology | 40 | $111,351 | |
Samantha Bull Director Of Human Resources | 40 | $101,316 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Unidine Corporation Dining Services | 4/29/22 | $3,081,618 |
Elizinga & Volkers Inc Construction | 4/29/22 | $9,026,173 |
Plante & Moran Living Forward Consulting Services | 4/29/22 | $273,886 |
Century Floorspace Construction Services | 4/29/22 | $262,938 |
Mnemonix Technology Consulting It Services | 4/29/22 | $548,274 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $1,044,696 |
| Government grants | $2,747,142 |
| 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 | $3,791,838 |
| Total Program Service Revenue | $15,867,368 |
| Investment income | $114,320 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $19,309 |
| 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 | $20,508,927 |
| 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. | $594,635 |
| Compensation of current officers, directors, key employees. | $594,635 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,518,185 |
| Pension plan accruals and contributions | $76,922 |
| Other employee benefits | $840,551 |
| Payroll taxes | $618,924 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $271,191 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $33,861 |
| Fees for services: Other | $5,564,883 |
| Advertising and promotion | $372,757 |
| Office expenses | $67,141 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $960,131 |
| Travel | $8,105 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,543,904 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,727,578 |
| Insurance | $310,771 |
| All other expenses | $139,673 |
| Total functional expenses | $26,024,523 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,668,815 |
| Savings and temporary cash investments | $13,917 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,632,208 |
| 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 | $510,373 |
| Net Land, buildings, and equipment | $71,248,448 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $7,681,745 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $12,507,077 |
| Total assets | $96,381,064 |
| Accounts payable and accrued expenses | $1,903,875 |
| Grants payable | $0 |
| Deferred revenue | $27,763,808 |
| Tax-exempt bond liabilities | $59,127,317 |
| 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 | $1,991,860 |
| Total liabilities | $90,786,860 |
| Net assets without donor restrictions | $5,594,204 |
| 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 | $96,381,064 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Clark Retirement Community Inc has recieved totaling $156.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $156 |
Endowment Analysis
| Beg. Balance | $1,720,903 |
| Net Contributions | $74,582 |
| Ending Balance | $1,795,485 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Fox Run Village Inc Novi, MI | $460,113,194 | $70,545,249 |
Csi-Derby Street Nonprofit Housing Corporation Warren, MI | $670,695 | $62,509,360 |
Blanchard Valley Continuing Care Services Findlay, OH | $61,929,671 | $35,904,527 |
American Senior Communities Group Health Plan Indianapolis, IN | $8,703,398 | $37,045,158 |
Twin Lakes Cincinnati, OH | $221,116,873 | $30,548,357 |
St Leonard Centerville, OH | $96,777,617 | $31,237,067 |
Colonial Senior Services Inc Hamilton, OH | $79,845,037 | $27,642,805 |
Clark Retirement Community Inc Grand Rapids, MI | $96,381,064 | $20,508,927 |
First Community Village Columbus, OH | $122,549,081 | $19,045,598 |
Resthaven Holland, MI | $35,879,779 | $29,087,420 |
Willow Brook Christian Services Delaware, OH | $3,018,622 | $23,582,237 |
Covenant Retirement Communities Of The Great Lakes Conference Grand Rapids, MI | $46,465,743 | $18,284,551 |