Redbanks Colonial Terrace
- Assets
- $6.8m
- Revenue
- $6.9m
- Investments
- $0.0
- Employees
- 124
- Location
- Sebree, KY
- Founding
- 04/2012
- Data as of
- 06/2024
- 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 06/2024, Redbanks Colonial Terrace employed 124 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 06/2024, Redbanks Colonial Terrace generated $6.9m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 1.6% each year. All expenses for the organization totaled $6.1m during the year ending 06/2024. While expenses have increased by 0.4% per year over the past 9 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
2024
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 | $1,000 |
Frank Chamberlain Director | Trustee | 2 | $3,000 |
Tim Williams Chairman/director | Trustee | 2 | $3,000 |
Maurice Forker Director | Trustee | 2 | $3,000 |
Eric Brown Director | Trustee | 2 | $2,750 |
Leon Poindexter Director | Trustee | 2 | $2,250 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Progressivehealth Of Indiana Llc Therapy Expense | 6/29/24 | $286,622 |
Medline Industries Inc Medical Supplies | 6/29/24 | $112,724 |
Pca Pharmacy Louisville Pharmacy Expense | 6/29/24 | $110,611 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,035,815 |
| 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 | $1,035,815 |
| Total Program Service Revenue | $5,861,551 |
| Investment income | $7,246 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$749 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,906,664 |
| 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. | $17,250 |
| Compensation of current officers, directors, key employees. | $17,250 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,003,892 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $418,016 |
| Payroll taxes | $226,199 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,904 |
| Fees for services: Accounting | $56,015 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $312,446 |
| Advertising and promotion | $6,840 |
| Office expenses | $482,056 |
| Information technology | $44,448 |
| Royalties | $0 |
| Occupancy | $349,760 |
| Travel | $6,382 |
| 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 | $207,100 |
| Insurance | $0 |
| All other expenses | $504,986 |
| Total functional expenses | $6,115,581 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $640,521 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,816,241 |
| 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 | $50,569 |
| Net Land, buildings, and equipment | $4,297,501 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $13,333 |
| Other assets | $16,519 |
| Total assets | $6,834,684 |
| Accounts payable and accrued expenses | $1,882,147 |
| 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 | $13,578 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $6,015,519 |
| Total liabilities | $7,911,244 |
| 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 | -$1,076,560 |
| Total liabilities and net assets/fund balances | $6,834,684 |