Resident Advancement Inc
- Assets
- $3.0m
- Revenue
- $7.7m
- Investments
- $0.0
- Employees
- 239
- Location
- Fenton, MI
- Founding
- 12/1988
- Data as of
- 09/2022
- EIN
- 38-2716661
Organization Overview
Resident Advancement Inc is located in Fenton, MI. The organization was established in 1988. According to its NTEE Classification (P73) the organization is classified as: Group Homes, under the broad grouping of Human Services and related organizations. As of 09/2022, Resident Advancement Inc employed 239 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Resident Advancement 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 09/2022, Resident Advancement Inc generated $7.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.7% each year. All expenses for the organization totaled $7.6m during the year ending 09/2022. While expenses have increased by 5.3% per year over the past 7 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
TO PROVIDE AND/OR FACILITATE THE PROVISION OF SERVICES AND/OR PROGRAMS FOR PHYSICALLY AND/OR MENTALLY CHALLENGED OR DISABLED PERSONS AND THE ELDERLY IN A CORPORATE FACILITY OR PERSONAL HOME.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE AND/OR FACILITATE THE PROVISION OF SERVICES AND/OR PROGRAMS FOR PHYSICALLY AND/OR MENTALLY CHALLENGED OR DISABLED PERSONS AND THE ELDERLY IN A CORPORATE FACILITY OR PERSONAL HOME.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rochelle Molyneaux Board Mber/p | Trustee | 2 | $165,742 |
Beth Mays Exec Directo | OfficerTrustee | 40 | $122,556 |
Barbara Eltringham Sec Treas | OfficerTrustee | $0 | |
Karen Hazzard Board Member | Trustee | $0 | |
Nancy Forystek Board Member | Trustee | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $7,635,392 |
| Investment income | $26,635 |
| 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 | $7,662,027 |
| 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 | $5,656,218 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $214,801 |
| Payroll taxes | $466,550 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $24,540 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $17,388 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $399,330 |
| Travel | $122,378 |
| 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 | $33,145 |
| Insurance | $61,734 |
| All other expenses | $13,138 |
| Total functional expenses | $7,596,937 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,387,111 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $652,823 |
| 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 | $7,626 |
| Net Land, buildings, and equipment | $622,032 |
| Investments—publicly traded securities | $315,962 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,985,554 |
| Accounts payable and accrued expenses | $340,282 |
| 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 | $340,282 |
| Net assets without donor restrictions | $0 |
| 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 | $2,645,272 |
| Total liabilities and net assets/fund balances | $2,985,554 |
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