Clark Retirement Community Foundation
- Assets
- $12.6m
- Revenue
- $4.5m
- Investments
- $5.6m
- Employees
- 0
- Location
- Grand Rapids, MI
- Founding
- 08/1995
- Data as of
- 12/2022
- EIN
- 38-3236052
Organization Overview
Clark Retirement Community Foundation is located in Grand Rapids, MI. The organization was established in 1995. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Clark Retirement Community Foundation 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 Foundation generated $4.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 23.5% each year . All expenses for the organization totaled $816.2k 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 RECEIVE AND ADMINISTER FUNDS TO FURTHER THE MISSION OF CLARK RETIREMENT COMMUNITY, INC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RECEIVED AND ADMINISTERED FUNDS FOR THE SUPPORT OF CLARK RETIREMENT COMMUNITY, INC. RESIDENTS REPRESENTING A TOTAL OF $852,000 IN BENEVOLENCE CARE BROKEN DOWN AS FOLLOWS: (1) MEDICAID $620,000 (2) ASSISTED LIVING $232,000.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brian Ellis Chair | OfficerTrustee | 1 | $0 |
John Wert Board Trustee | Trustee | 1 | $0 |
Bonnie Miller Board Trustee | Trustee | 1 | $0 |
William Millard Vice Chair | OfficerTrustee | 1 | $0 |
John Abbott Board Trustee | Trustee | 1 | $0 |
Dr Priscilla Kimboko Chair Secretary | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $128,457 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $669,072 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $797,529 |
| Total Program Service Revenue | $0 |
| Investment income | $68,258 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $3,650,154 |
| Net Income from Fundraising Events | -$13,073 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,502,868 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $325,524 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $26,017 |
| Fees for services: Other | $184,987 |
| Advertising and promotion | $24,607 |
| Office expenses | $12,057 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $119 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $829 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $69,416 |
| Total functional expenses | $816,154 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $171,572 |
| Pledges and grants receivable | $391,966 |
| Accounts receivable, net | $264 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $6,439,517 |
| Investments—other securities | $5,629,944 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $12,633,263 |
| Accounts payable and accrued expenses | $48,206 |
| 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 | $275,391 |
| Total liabilities | $323,597 |
| Net assets without donor restrictions | $4,635,959 |
| Net assets with donor restrictions | $7,673,707 |
| 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 | $12,633,263 |