Redbanks Colonial Terrace
- Assets
- $5.9m
- Revenue
- $4.2m
- Investments
- $0.0
- Employees
- 106
- Location
- Sebree, KY
- Founding
- 04/2012
- Data as of
- 06/2022
- EIN
- 45-2631630
Organization Overview
Redbanks Colonial Terrace is located in Sebree, KY. The organization was established in 2012. 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 06/2022, Redbanks Colonial Terrace employed 106 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Redbanks Colonial Terrace 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 06/2022, Redbanks Colonial Terrace generated $4.2m 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 (5.1%) each year. All expenses for the organization totaled $4.4m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (4.0%) 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
NURSING FACILITY FOR THE AGED
Describe the Organization's Program Activity:
Part 3 - Line 4a
HOME-LIKE NURSING FACILITY PROVIDING SHORT TERM REHABILITATION, DAILY ACTIVITIES, PHYSICAL THERAPY, OCCUPATIONAL THERAPY AND SPEECH THERAPY TO THEIR RESIDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Long Director | Trustee | 2 | $3,000 |
Eric Brown Director | Trustee | 2 | $3,000 |
Tim Williams Chairman/director | Trustee | 2 | $3,000 |
Frank Chamberlain Director | Trustee | 2 | $3,000 |
Maurice Forker Director | Trustee | 2 | $3,000 |
John Denton Director | Trustee | 2 | $2,750 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Progressivehealth Of Indiana Llc Therapy Expense | 6/29/22 | $152,659 |
Select Rehabilitation Therapy Expense | 6/29/22 | $132,179 |
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 | $4,152,220 |
| Investment income | $1,020 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$6,800 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,150,814 |
| 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. | $17,750 |
| Compensation of current officers, directors, key employees. | $17,750 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,086,248 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $250,157 |
| Payroll taxes | $155,110 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $7,175 |
| Fees for services: Accounting | $49,310 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $104,074 |
| Advertising and promotion | $3,286 |
| Office expenses | $358,014 |
| Information technology | $49,749 |
| Royalties | $0 |
| Occupancy | $342,577 |
| Travel | $4,200 |
| 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 | $205,591 |
| Insurance | $0 |
| All other expenses | $323,417 |
| Total functional expenses | $4,429,356 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $738,208 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $505,330 |
| 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 | $55,868 |
| Net Land, buildings, and equipment | $4,578,727 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $26,667 |
| Other assets | $17,422 |
| Total assets | $5,922,222 |
| Accounts payable and accrued expenses | $1,609,691 |
| 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 | $6,016,423 |
| Total liabilities | $7,626,114 |
| 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 | -$1,703,892 |
| Total liabilities and net assets/fund balances | $5,922,222 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Virginia Mennonite Home Inc Harrisonburg, VA | $28,962,463 | $20,540,544 |
Virginia Home Richmond, VA | $132,722,142 | $34,605,321 |
American Health Foundation Inc Dublin, OH | $18,460,178 | $15,917,114 |
Seniortrust Of Florida Inc Nashville, TN | $0 | $3,809 |
West Side Deutscher Frauen Verein Strongsville, OH | $52,788,164 | $24,260,766 |
Brethren Care Inc Ashland, OH | $33,039,248 | $18,821,544 |
St Patrick Residence Naperville, IL | $29,023,475 | $20,568,774 |
Visiting Nurse And Hospice Home Inc Fort Wayne, IN | $27,656,641 | $21,519,999 |
Holy Family Villa Palos Park, IL | $17,637,306 | $12,934,325 |
Mcv Health Care Facilities Inc Cincinnati, OH | $23,364,153 | $19,035,852 |
Assumption Village North Lima, OH | $8,870,048 | $14,570,063 |
St Clair Darden Health System Inc South Bend, IN | $21,453,139 | $17,018,170 |