Upstate Senior Living Inc
- Assets
- $130.6m
- Revenue
- $25.3m
- Investments
- $37.2m
- Employees
- 376
- Location
- Greenville, SC
- Founding
- 03/2007
- Data as of
- 12/2023
- EIN
- 51-0553716
Organization Overview
Upstate Senior Living Inc, operating under the name The Woodlands at Furman, is located in Greenville, SC. The organization was established in 2007. According to its NTEE Classification (P75) the organization is classified as: Supportive Housing for Older Adults, under the broad grouping of Human Services and related organizations. As of 12/2023, Woodlands at Furman employed 376 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Woodlands at Furman 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 12/2023, Woodlands at Furman generated $25.3m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 9.0% each year. All expenses for the organization totaled $25.7m during the year ending 12/2023. While expenses have increased by 5.8% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO BE THE RETIREMENT COMMUNITY OF CHOICE BY NURTURING A DISTINCTIVE CULTURE OF ENRICHMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE WOODLANDS AT FURMAN HAS A UNIQUE AFFILIATION WITH FURMAN UNIVERSITY WHICH HELPS RESIDENTS STAY HEALTHY, CONNECTED, AND INVOLVED. THE ORGANIZATION DOES EVERYTHING POSSIBLE TO MAKE RETIREMENT ONE OF THE MOST REWARDING AND ENRICHING PARTS OF LIFE BY OFFERING A LIFESTYLE THAT ENCOURAGES PHYSICAL, MENTAL, AND SOCIAL GROWTH. THE WOODLANDS HAS 174 INDEPENDENT LIVING APARTMENTS RANGING IN SIZE FROM 700 TO 2,060 SQUARE FEET. THE WOODLANDS' VILLAS CONSIST OF 28 SINGLE FAMILY HOMES. FOR THOSE WHO NEED INCREASED CARE, THE WOODLANDS' SKILLED NURSING UNIT HAS 30 BEDS. THE COMMUNITY ALSO HAS 48 ASSISTED LIVING UNITS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Director | OfficerTrustee | 1 | $0 |
Name Not Listed Secretary | OfficerTrustee | 1 | $0 |
Name Not Listed Chair | OfficerTrustee | 1 | $0 |
Name Not Listed Treasurer | OfficerTrustee | 1 | $0 |
Name Not Listed Vice Chair | OfficerTrustee | 1 | $0 |
Name Not Listed Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Bon Appetit Management Company Dining Services | 12/30/23 | $1,163,790 |
Jd Lane Construction Construction Services | 12/30/23 | $545,632 |
Envirocare Landscape Management Landscape Services | 12/30/23 | $300,454 |
Alan Dickerson Construction Services | 12/30/23 | $261,850 |
Tsa Choice Information Technology Solutions | 12/30/23 | $264,146 |
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 | $228,072 |
| Noncash contributions included in lines 1a–1f | $107,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $228,072 |
| Total Program Service Revenue | $23,419,588 |
| Investment income | $1,018,953 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $68,873 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $25,284,260 |
| 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. | $726,095 |
| Compensation of current officers, directors, key employees. | $326,743 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,981,097 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $795,911 |
| Fees for services: Management | $82,193 |
| Fees for services: Legal | $39,402 |
| Fees for services: Accounting | $44,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $90,441 |
| Fees for services: Other | $2,609,741 |
| Advertising and promotion | $253,533 |
| Office expenses | $0 |
| Information technology | $78,382 |
| Royalties | $0 |
| Occupancy | $2,883,060 |
| Travel | $68,221 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $3,555,211 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,132,209 |
| Insurance | $334,061 |
| All other expenses | $106,658 |
| Total functional expenses | $25,655,511 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,053,696 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,189,967 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $25,930 |
| Prepaid expenses and deferred charges | $143,703 |
| Net Land, buildings, and equipment | $88,650,292 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $37,172,981 |
| Investments—program-related | $0 |
| Intangible assets | $320,152 |
| Other assets | $52,561 |
| Total assets | $130,609,282 |
| Accounts payable and accrued expenses | $2,709,397 |
| Grants payable | $0 |
| Deferred revenue | $85,632,817 |
| Tax-exempt bond liabilities | $70,334,809 |
| 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 | $20,630,530 |
| Total liabilities | $179,307,553 |
| Net assets without donor restrictions | -$48,825,161 |
| Net assets with donor restrictions | $126,890 |
| 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 | $130,609,282 |