Fahrney-Keedy Memorial Home Inc
- Assets
- $38.9m
- Revenue
- $22.1m
- Investments
- $0.0
- Employees
- 359
- Location
- Boonsboro, MD
- Founding
- 07/1960
- Data as of
- 12/2021
- EIN
- 52-0610464
Organization Overview
Fahrney-Keedy Memorial Home Inc is located in Boonsboro, MD. The organization was established in 1960. 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 12/2021, Fahrney-Keedy Memorial Home Inc employed 359 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fahrney-Keedy Memorial Home 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 12/2021, Fahrney-Keedy Memorial Home Inc generated $22.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.1% each year. All expenses for the organization totaled $20.8m during the year ending 12/2021. While expenses have increased by 6.8% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
WE ARE COMMITTED TO ENHANCING THE LIVES OF SENIORS THROUGH CARING QUALITY SERVICES. WE ARE A CONTINUING CARE RETIREMENT COMMUNITY (CCRC) WITH INDEPENDENT LIVING SERVICES, ASSISTED LIVING SERVICES, AND NURSING SERVICES. THE ORGANIZATION HAS 36 INDEPENDENT LIVING COTTAGES, 26 INDEPENDENT LIVING APARTMENTS, 32 ASSISTED LIVING BEDS, AND A 101 BED SKILLED NURSING FACILITY LOCATED IN BOONSBORO, MARYLAND.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NURSING SERVICES TO PRIVATE PAY, MEDICARE, AND MEDICAID RESIDENTS.
ASSISTED LIVING SERVICES.
INDEPENDENT LIVING SERVICES.
ALL OTHER SERVICES INCLUDE EXECUTIVE MANAGEMENT SERVICES, BUSINESS SUPPORT SERVICES, OTHER PATIENT CARE EXPENSES, DIETARY SERVICES, ADULT DAY CARE, AND PROPERTY SERVICES. EXPENSES BY PROGRAM ARE AS FOLLOWS: ROUTINE SERVICES - 3,413,709 CAPITAL AND PROPERTY SERVICES - 1,310,817 OTHER PATIENT CARE - 1,168,235 ADULT DAY CARE - 333,567 STAFF DEVELOPMENT - 137,138 GRANTS TO ORGANIZATIONS - 2,350
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stephen Coetzee President/ce | Officer | 40 | $199,047 |
Julia Mcglaughlin Executive Di | 40 | $127,444 | |
Christopher Stockslager Cfo/treasure | Officer | 40 | $113,953 |
Barbara A Foster Director Of | 40 | $106,902 | |
John Miller Chair | OfficerTrustee | 2 | $0 |
William Mitchell Vice Chair | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Major League Builders Construction | 12/30/21 | $342,770 |
Colby Bachtell Llc Construction | 12/30/21 | $132,325 |
Division 9 Design & Construction Construction | 12/30/21 | $1,351,100 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $17,200 |
| Related organizations | $0 |
| Government grants | $4,958,630 |
| All other contributions, gifts, grants, and similar amounts not included above | $267,682 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,243,512 |
| Total Program Service Revenue | $16,853,121 |
| Investment income | $1,909 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$7,026 |
| Net Income from Fundraising Events | $19,420 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $22,110,936 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,350 |
| 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. | $331,437 |
| Compensation of current officers, directors, key employees. | $308,043 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $11,358,045 |
| Pension plan accruals and contributions | $92,824 |
| Other employee benefits | $1,587,854 |
| Payroll taxes | $814,774 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $16,863 |
| Fees for services: Accounting | $67,360 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $751,267 |
| Advertising and promotion | $70,974 |
| Office expenses | $1,015,288 |
| Information technology | $200,130 |
| Royalties | $0 |
| Occupancy | $903,351 |
| Travel | $12,330 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $23,799 |
| Interest | $462,281 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,455,223 |
| Insurance | $239,318 |
| All other expenses | $137,876 |
| Total functional expenses | $20,789,173 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $13,912 |
| Savings and temporary cash investments | $821,309 |
| Pledges and grants receivable | $49,608 |
| Accounts receivable, net | $3,537,593 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $7,933 |
| Prepaid expenses and deferred charges | $94,220 |
| Net Land, buildings, and equipment | $24,425,492 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $9,952,084 |
| Total assets | $38,902,151 |
| Accounts payable and accrued expenses | $1,388,716 |
| Grants payable | $0 |
| Deferred revenue | $4,405,489 |
| 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 | $16,455,835 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $137,573 |
| Total liabilities | $22,387,613 |
| Net assets without donor restrictions | $8,714,930 |
| Net assets with donor restrictions | $7,799,608 |
| 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 | $38,902,151 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Fahrney-Keedy Memorial Home Inc has recieved totaling $46,089.
| Awarding Organization | Amount |
|---|---|
Jone L Bowman Foundation Inc Williamsport, MD PURPOSE: SUPPORT OF EXEMPT PURPOSES | $30,000 |
Nora Roberts Family Foundation Inc Glenn Dale, MD PURPOSE: ENHANCING THE LIVES OF SENIORS THROUGH CARING QUALITY SERVICE | $10,000 |
Community Foundation Of Washington County Maryland Incorporated Hagerstown, MD PURPOSE: PROGRAM SUPPORT | $6,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $89 |
Endowment Analysis
| Beg. Balance | $419,608 |
| Earnings | $57,291 |
| Ending Balance | $476,899 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Messiah Home Mechanicsburg, PA | $178,549,269 | $51,412,413 |
Brethren Home Community New Oxford, PA | $203,107,620 | $47,521,434 |
The Mennonite Home Lancaster, PA | $196,485,253 | $48,109,566 |
Sunnyside Presbyterian Home Harrisonburg, VA | $146,625,946 | $50,868,403 |
The Village At Rockville Inc Frederick, MD | $175,992,547 | $34,000,172 |
Landis Homes Retirement Community Lititz, PA | $172,325,737 | $44,637,724 |
Asbury Inc Frederick, MD | $80,704,465 | $39,927,876 |
Meadowood Corporation Worcester, PA | $160,208,688 | $42,941,264 |
Williamsburg Landing Inc Williamsburg, VA | $188,766,508 | $45,342,775 |
Lakewood Manor Baptist Retirement Community Inc Glen Allen, VA | $206,811,940 | $42,484,506 |
Garden Spot Village New Holland, PA | $169,543,574 | $40,104,692 |
Ingleside At Rock Creek Inc Rockville, MD | $276,585,073 | $30,835,509 |