Sterling Co
- Assets
- $10.9m
- Revenue
- $28.9m
- Investments
- $0.0
- Employees
- 49
- Location
- Gadsden, AL
- Founding
- 06/2014
- Data as of
- 09/2023
- EIN
- 46-2455801
Organization Overview
Sterling Co is located in Gadsden, AL. The organization was established in 2014. According to its NTEE Classification (Z99) the organization is classified as: Unknown, under the broad grouping of Unknown and related organizations. As of 09/2023, Sterling Co employed 49 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sterling Co 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 09/2023, Sterling Co generated $28.9m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 39.1% each year . All expenses for the organization totaled $27.9m during the year ending 09/2023. While expenses have increased by 40.8% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE HEALTHCARE AND MANAGEMENT SERVICES PRIMARILY TO THOSE ORGANIZATIONS SERVING MENTALLY DISABLED CITIZENS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVISION OF HEALTHCARE AND MANAGEMENT SERVICES TO THOSE ORGANIZATIONS SERVING MENTALLY DISABLED ADULTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mike Self Chair | Trustee | 1 | $0 |
Tony Snow Secretary | Trustee | 1 | $0 |
Scott Mayo Member | Trustee | 1 | $0 |
Kathy West Chief Executive Officer | Officer | 40 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Haymon Homes Inc Contract Management | 9/29/23 | $8,528,248 |
Tri County Group Homes Contract Management | 9/29/23 | $4,718,635 |
North Alabama Family Services Contract Management | 9/29/23 | $2,630,274 |
Omega Residential Contract Management | 9/29/23 | $2,082,172 |
Genesis Residential Contract Management | 9/29/23 | $1,656,335 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $511,639 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,159 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $513,798 |
| Total Program Service Revenue | $28,227,999 |
| Investment income | $7,171 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $156,620 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $6,711 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $28,912,299 |
| 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 | $1,823,797 |
| Pension plan accruals and contributions | $20,236 |
| Other employee benefits | $246,883 |
| Payroll taxes | $153,119 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $40,426 |
| Fees for services: Accounting | $12,563 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $182,895 |
| Advertising and promotion | $4,378 |
| Office expenses | $9,912 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $190,667 |
| Travel | $23,822 |
| 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 | $26,739 |
| Insurance | $9,158 |
| All other expenses | $6,640 |
| Total functional expenses | $27,926,677 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,854,623 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,590,268 |
| 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 | $14,786 |
| Net Land, buildings, and equipment | $1,843,553 |
| Investments—publicly traded securities | $4,587,140 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $10,890,370 |
| Accounts payable and accrued expenses | $3,486,279 |
| 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 | $3,486,279 |
| Net assets without donor restrictions | $7,404,091 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $10,890,370 |