Mccready Foundation Inc
- Assets
- $12.4m
- Revenue
- $10.2m
- Investments
- $0.0
- Employees
- 0
- Location
- Crisfield, MD
- Founding
- 10/1948
- Data as of
- 06/2022
- EIN
- 52-0607921
Organization Overview
Mccready Foundation Inc is located in Crisfield, MD. The organization was established in 1948. According to its NTEE Classification (E22) the organization is classified as: General Hospitals, under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mccready Foundation Inc 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, Mccready Foundation Inc generated $10.2m 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 (10.6%) each year. All expenses for the organization totaled $14.2m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (6.9%) 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 HOME AND ASSISTED LIVING FACILITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ALICE BYRD TAWES NURSING AND REHABILITATION CENTER ALICE B TAWES NURSING AND REHABILITATION CENTER IN CRISFIELD, MARYLAND OFFERS INPATIENT SKILLED NURSING SERVICES FOR PATIENTS WHO ARE RECOVERING FROM ILLNESS OR INJURY AND AREN'T READY FOR HOME RECOVERY. THEY ALSO OFFER LONG-TERM AND RESPITE CARE OPTIONS FOR RESIDENTS THAT ARE UNABLE TO LIVE INDEPENDENTLY AT HOME. THE FACILITY HAS 76 LICENSED BEDS WITH RESIDENTS LIVING IN PRIVATE OR SEMI-PRIVATE ROOMS.
CHESAPEAKE COVE ASSISTED LIVINGCHESAPEAKE COVE ASSISTED LIVING IS LOCATED IN CRISFIELD, MARYLAND AND OFFERS RESIDENTS FULL-TIME NON-MEDICAL CARE WHILE ENJOYING ARRANGED TRANSPORTATION AND ASSISTANCE WITH THEIR ACTIVITIES OF DAILY LIVING. RESIDENTS CAN PARTICIPATE IN COMMUNITY EVENTS AND ACTIVITIES, SUCH AS GROUP OUTINGS, EXERCISE CLASSES AND MOVIE NIGHTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bruce I Ritchie Board Member | OfficerTrustee | 1 | $0 |
Lura Lunsford Board Member | Trustee | 1 | $0 |
James Trumble MD Board Member | Trustee | 1 | $0 |
Sarah Arnett Secretary To 04/22 | OfficerTrustee | 1 | $0 |
Kathryn Fiddler Chairperson | OfficerTrustee | 1 | $0 |
Kathleen Harrison President To 01/22 | OfficerTrustee | 40 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Focusone Solutions Temp Labor Services | 6/29/21 | $408,815 |
Metx Culinary Management Food Services | 6/29/21 | $245,295 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,388,654 |
| 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 | $1,388,654 |
| Total Program Service Revenue | $8,484,669 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $528,866 |
| Net Gain/Loss on Asset Sales | -$31,546 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,209,335 |
| 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. | $427,812 |
| Compensation of current officers, directors, key employees. | $41,968 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,776,587 |
| Pension plan accruals and contributions | $171,007 |
| Other employee benefits | $1,101,644 |
| Payroll taxes | $452,769 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $3,666 |
| Fees for services: Other | $502,334 |
| Advertising and promotion | $0 |
| Office expenses | $117,533 |
| Information technology | $36,239 |
| Royalties | $0 |
| Occupancy | $593,628 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $200,212 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $844,808 |
| Insurance | $272,340 |
| All other expenses | $0 |
| Total functional expenses | $14,232,601 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $539,655 |
| Savings and temporary cash investments | $285,925 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $732,253 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $39,157 |
| Prepaid expenses and deferred charges | $23,909 |
| Net Land, buildings, and equipment | $10,815,080 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $12,435,979 |
| Accounts payable and accrued expenses | $1,170,033 |
| Grants payable | $0 |
| Deferred revenue | $58,215 |
| 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 | $8,117,683 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $9,345,931 |
| Net assets without donor restrictions | $3,090,048 |
| 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 | $12,435,979 |