Gilbert Residence Inc
- Assets
- $20.3m
- Revenue
- $6.8m
- Investments
- $259.2k
- Employees
- 196
- Location
- Ypsilanti, MI
- Founding
- 02/1955
- Data as of
- 12/2022
- EIN
- 38-1615660
Organization Overview
Gilbert Residence Inc is located in Ypsilanti, MI. The organization was established in 1955. 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 12/2022, Gilbert Residence Inc employed 196 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Gilbert Residence 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, Gilbert Residence Inc generated $6.8m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.8% each year. All expenses for the organization totaled $6.8m during the year ending 12/2022. While expenses have increased by 2.2% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
OUR MISSION IS TO CONTINUE A TRADITION OF EXCELLENCE BY PROVIDING COMPASSIONATE AND DIGNIFIED CARE THAT BEST MEETS YOUR NEEDS AND PREFERENCES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE GILBERT RESIDENCE OFFERS HOUSING, HEALTH CARE AND RELATED SERVICES TO RESIDENTS THROUGH THE OPERATION OF A RETIREMENT, ASSISTED LIVING AND MEMORY CARE HOME.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Derek Mcgill CEO | OfficerTrustee | 40 | $172,872 |
Ted Schork President | OfficerTrustee | 1 | $0 |
Barbara Robb Vice Preside | OfficerTrustee | 1 | $0 |
Richard Timmons Treasurer | OfficerTrustee | 1 | $0 |
Thomas Harrison Trustee | Trustee | 1 | $0 |
Fred Davis Trustee | Trustee | 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 | $31,832 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $31,832 |
| Total Program Service Revenue | $6,413,501 |
| Investment income | $140,542 |
| 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 | $6,754,255 |
| 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. | $326,901 |
| Compensation of current officers, directors, key employees. | $326,901 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,347,913 |
| Pension plan accruals and contributions | $144,370 |
| Other employee benefits | $291,050 |
| Payroll taxes | $283,050 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,326 |
| Fees for services: Accounting | $33,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $39,259 |
| Fees for services: Other | $105,595 |
| Advertising and promotion | $26,347 |
| Office expenses | $21,433 |
| Information technology | $34,760 |
| Royalties | $0 |
| Occupancy | $415,924 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $46,297 |
| Interest | $203,586 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $429,761 |
| Insurance | $0 |
| All other expenses | $37,954 |
| Total functional expenses | $6,794,117 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $684,510 |
| Savings and temporary cash investments | $2,863,548 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $210,648 |
| 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 | $68,709 |
| Net Land, buildings, and equipment | $8,908,521 |
| Investments—publicly traded securities | $7,250,539 |
| Investments—other securities | $259,194 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $41,272 |
| Total assets | $20,286,941 |
| Accounts payable and accrued expenses | $650,274 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $5,987,158 |
| 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 | $6,637,432 |
| Net assets without donor restrictions | $13,493,640 |
| Net assets with donor restrictions | $155,869 |
| 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 | $20,286,941 |