Methodist Retirement Communities
- Assets
- $420.1m
- Revenue
- $93.6m
- Investments
- $0.0
- Employees
- 1,375
- Location
- The Woodlands, TX
- Founding
- 11/2016
- Data as of
- 12/2022
- EIN
- 38-4022302
Organization Overview
Methodist Retirement Communities is located in The Woodlands, TX. The organization was established in 2016. As of 12/2022, Methodist Retirement Communities employed 1,375 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Methodist Retirement Communities 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, Methodist Retirement Communities generated $93.6m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 7.0% each year. All expenses for the organization totaled $110.0m during the year ending 12/2022. While expenses have increased by 4.7% per year over the past 6 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
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PROVIDES SKILLED NURSING SERVICES FOR ITS RESIDENTS AT ITS CCRC LOCATIONS AT MRC TOWNCREEK, MRC CORNERSTONE, MRC CRESTVIEW, MRC PINECREST, HAPPY HARBOR METHODIST HOME INC., AND MRC SENIOR LIVING CORPUS CHRISTI. MRC TOWNCREEK HAS 66 HEALTH CARE BEDS LOCATED IN HUNTSVILLE, TEXAS, MRC CORNERSTONE HAS 40 HEALTH CARE BEDS LOCATED IN TEXARKANA, TEXAS, MRC CRESTVIEW HAS 48 HEALTH CARE BEDS LOCATED IN BRYAN, TEXAS, MRC PINECREST HAS 51 HEALTH CARE BEDS LOCATED IN LUFKIN, TEXAS, HAPPY HARBOR METHODIST HOME, INC. HAS 48 HEALTH CARE BEDS LOCATED IN LEAGUE CITY, TEXAS, AND MRC SENIOR LIVING CORPUS CHRISTI HAS 41 HEALTH CARE BEDS LOCATED IN CORPUS CHRISTI, TEXAS.
THE ORGANIZATION PROVIDES HOME HEALTH SERVICES FOR ITS RESIDENTS AT MRC PINECREST AND MRC CORNERSTONE.
THE ORGANIZATION PROVIDES INDEPENDENT LIVING SERVICES FOR ITS RESIDENTS AT MRC CORNERSTONE, MRC CRESTVIEW, MRC PINECREST, HAPPY HARBOR METHODIST HOME INC., MRC SENIOR LIVING AT CLEARKLAKE, MRC SENIOR LIVING CORPUS CHRISTI, BAYVIEW SENIOR HOUSING, MRC CRESTVIEW PLACE, MRC CRESTVIEW TERRACE, CRESTVIEW UNITY, AND HAPPY HARBOR SENIOR HOUSING. FIVE OF THE INDEPENDENT LIVING PROPERTIES ARE FINANCED BY HUD WHICH INCLUDE BAYVIEW SENIOR HOUSING, MRC CRESTVIEW PLACE, MRC CRESTVIEW TERRACE, CRESTVIEW UNITY, AND HAPPY HARBOR SENIOR HOUSING. MRC CORNERSTONE HAS 108 INDEPENDENT LIVING UNITS LOCATED IN TEXARKANA, TEXAS, MRC CRESTVIEW HAS 91 INDEPENDENT LIVING UNITS LOCATED IN BRYAN, TEXAS, MRC PINECREST HAS 119 INDEPENDENT LIVING UNITS LOCATED IN LUFKIN, TEXAS, HAPPY HARBOR METHODIST HOME, INC. HAS 116 INDEPENDENT LIVING UNITS LOCATED IN LEAGUE CITY, TEXAS, MRC SENIOR LIVING AT CLEARLAKE HAS 72 INDEPENDENT LIVING UNITS LOCATED IN COLLEGE STATION, TEXAS, MRC SENIOR LIVING CORPUS CHRISTI HAS 125 INDEPENDENT LIVING UNITS LOCATED IN CORPUS CHRISTI, TEXAS, BAYVIEW SENIOR HOUSING HAS 61 INDEPENDENT LIVING UNITS LOCATED IN LAPORTE, TEXAS, MRC CRESTVIEW PLACE HAS 44 INDEPENDENT LIVING UNITS LOCATED IN BRYAN, TEXAS, MRC CRESTVIEW TERRACE HAS 100 INDEPENDENT LIVING UNITS LOCATED IN BRYAN, TEXAS, CRESTVIEW UNITY HAS 63 INDEPENDENT LIVING UNITS LOCATED IN BRYAN, TEXAS, AND HAPPY HARBOR SENIOR HOUSING HAS 51 INDEPENDENT LIVING UNITS LOCATED IN LAPORTE, TEXAS.
THE ORGANIZATION PROVIDES ASSISTED LIVING AND MEMORY SUPPORT SERVICES FOR ITS RESIDENTS AT MRC TOWNCREEK, MRC CORNERSTONE, MRC CRESTVIEW, MRC PINECREST, HAPPY HARBOR METHODIST HOME INC., MRC SENIOR LIVING AT CLEARLAKE, AND MRC SENIOR LIVING CORPUS CHRISTI. MRC TOWNCREEK HAS 32 ASSISTED LIVING UNITS AND 18 MEMORY SUPPORT UNITS LOCATED IN HUNTSVILLE, TEXAS, MRC CORNERSTONE HAS 51 ASSISTED LIVING UNITS INCLUDING 36 CERTIFIED UNITS FOR ALZHEIMER'S CARE LOCATED IN TEXARKANA, TEXAS, MRC CRESTVIEW HAS 48 ASSISTED LIVING UNITS AND 18 MEMORY SUPPORT UNITS LOCATED IN BRYAN, TEXAS, MRC PINECREST HAS 40 MEMORY SUPPORT UNITS LOCATED IN LUFKIN, TEXAS, HAPPY HARBOR METHODIST HOME, INC. HAS 36 ASSISTED LIVING UNITS AND 24 MEMORY SUPPORT UNITS LOCATED IN LEAGUE CITY, TEXAS., MRC SENIOR LIVING AT CLEARLAKE HAS 24 ASSISTED LIVING UNITS AND 18 MEMORY SUPPORT UNITS LOCATED IN COLLEGE STATION, TEXAS, AND MRC SENIOR LIVING CORPUS CHRISTI HAS 44 ASSISTED LIVING UNITS AND 18 MEMORY SUPPORT UNITS LOCATED IN CORPUS CHRISTI, TEXAS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mr Alan Brown President | OfficerTrustee | 40 | $0 |
Mr Wayne D Haglund Director | Trustee | 1 | $0 |
Mr Thomas R Wussow Director | Trustee | 1 | $0 |
Mrs Alyce Anne Baggett Chair | OfficerTrustee | 9 | $0 |
Rev Billy T Williamson Director | Trustee | 1 | $0 |
Mr Larry St Martin Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Unidine Corporation Food Services | 12/30/22 | $12,830,446 |
Quality Care Rehab Medical Services | 12/30/22 | $3,739,197 |
Greystone Development Professional Services | 12/30/22 | $1,177,478 |
Shiftkey Llc Healthcare Nursing Staff | 12/30/22 | $909,954 |
Du-west Construction Inc Construction | 12/30/22 | $816,073 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $1,210,055 |
| Government grants | $178,128 |
| 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 | $1,388,183 |
| Total Program Service Revenue | $89,543,452 |
| Investment income | $1,359,171 |
| Tax Exempt Bond Proceeds | $440,131 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$595,699 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $93,551,771 |
| 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 | $32,368,410 |
| Pension plan accruals and contributions | $299,465 |
| Other employee benefits | $3,049,232 |
| Payroll taxes | $2,500,633 |
| Fees for services: Management | $4,491,240 |
| Fees for services: Legal | $189,873 |
| Fees for services: Accounting | $251,743 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,365 |
| Fees for services: Other | $1,892,763 |
| Advertising and promotion | $2,195,823 |
| Office expenses | $1,216,264 |
| Information technology | $1,307,003 |
| Royalties | $0 |
| Occupancy | $2,868,489 |
| Travel | $326,922 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $38,000 |
| Interest | $11,677,998 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $15,151,787 |
| Insurance | $2,491,572 |
| All other expenses | $3,463,258 |
| Total functional expenses | $109,968,279 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10,695,915 |
| Savings and temporary cash investments | $45,260,223 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,685,419 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $3,004,415 |
| Inventories for sale or use | $364,213 |
| Prepaid expenses and deferred charges | $691,148 |
| Net Land, buildings, and equipment | $300,709,961 |
| Investments—publicly traded securities | $35,549,042 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $13,365,923 |
| Other assets | $5,784,373 |
| Total assets | $420,110,632 |
| Accounts payable and accrued expenses | $12,344,318 |
| Grants payable | $0 |
| Deferred revenue | $19,782,035 |
| Tax-exempt bond liabilities | $287,205,818 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $7,627,572 |
| Unsecured mortgages and notes payable | $12,003,866 |
| Other liabilities | $177,063,707 |
| Total liabilities | $516,027,316 |
| Net assets without donor restrictions | -$107,105,145 |
| Net assets with donor restrictions | $11,188,461 |
| 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 | $420,110,632 |