Annapolis Life Care Inc
- Assets
- $106.1m
- Revenue
- $25.0m
- Investments
- $6.8m
- Employees
- 339
- Location
- Annapolis, MD
- Founding
- 04/1985
- Data as of
- 06/2022
- EIN
- 52-1381348
Organization Overview
Annapolis Life Care Inc, operating under the name Ginger Cove, is located in Annapolis, MD. The organization was established in 1985. 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 06/2022, Ginger Cove employed 339 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ginger Cove 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, Ginger Cove generated $25.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.3% each year. All expenses for the organization totaled $25.5m during the year ending 06/2022. While expenses have increased by 0.7% 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO OWN AND OPERATE A CONTINUING CARE COMMUNITY FOR CONTRACT HOLDERS OF THE AGE OF 60 AND OLDER
Describe the Organization's Program Activity:
ANNAPOLIS LIFE CARE, INC. OPERATES A LIFE-CARE COMMUNITY WHICH OFFERS THREE LEVELS OF CARE. THESE CONSIST OF INDEPENDENT LIVING, ASSISTED LIVING, AND NURSING.INDEPENDENT LIVING - THE ORGANIZATION PROVIDES HOUSING FOR CERTAIN CONTRACT HOLDERS, HEALTH CARE, AND RECREATIONAL ACTIVITIES FOR SENIOR CITIZENS WHO ARE STILL ABLE TO MAINTAIN AN ACTIVE LIFESTYLE. THERE WERE 231 INDEPENDENT LIVING UNITS AVAILABLE WITH AN AVERAGE OCCUPANCY RATE OF 83.9%.
SKILLED NURSING - THE ORGANIZATION HAS A 55-BED COMPREHENSIVE CARE COMMUNITY HEALTH CENTER FOR RESIDENTS WHO REQUIRE A HIGH LEVEL OF SKILLED NURSING ASSISTANCE. TEMPORARY AND PERMANENT CARE DAYS TOTALED 12,381.
ASSISTED LIVING - THIS PROGRAM IS FOR SENIOR CITIZENS WHO MAY NEED ADDITIONAL HELP TO MAINTAIN A HEALTHY LIFESTYLE BUT WHO DO NOT REQUIRE SKILLED NURSING. THE ORGANIZATION HAS 50 UNITS FOR ASSISTED LIVING, 15 MEMORY CARE UNITS, AND 6 BEDS IN THE HEALTH CENTER WHICH PROVIDED A TOTAL OF 17,850 LIFE CARE DAYS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William M Holman CEO To Dec 2021 | Officer | 40 | $290,553 |
Phyllis Boulden Administrator | Officer | 40 | $176,037 |
Vicky Miranda Sr. Dir. Human Resources | 40 | $152,250 | |
Mary Beth Holly Finance Director | Officer | 40 | $134,198 |
Maseray Bayoh-Sensie Director Of Nursing | 40 | $142,299 | |
Marie O'shea Marketing Director | 40 | $138,340 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Flik Lifestyles Llc Dining Services | 6/29/22 | $2,045,962 |
Waverly Construction & Management Inc Construction | 6/29/22 | $1,560,671 |
Wf Haislip Jr Construction Construction | 6/29/22 | $407,683 |
Select Rehabilitation Inc Therapy Services | 6/29/22 | $1,387,043 |
Brightview Landscapes Llc Landscaping | 6/29/22 | $290,328 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $67,962 |
| Government grants | $2,072,300 |
| All other contributions, gifts, grants, and similar amounts not included above | $27,954 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,168,216 |
| Total Program Service Revenue | $21,341,994 |
| Investment income | $600,716 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $33,283 |
| Net Gain/Loss on Asset Sales | $753,024 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$4,224 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $25,048,971 |
| 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. | $694,298 |
| Compensation of current officers, directors, key employees. | $694,298 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,133,290 |
| Pension plan accruals and contributions | $118,399 |
| Other employee benefits | $1,984,017 |
| Payroll taxes | $645,173 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $115,466 |
| Fees for services: Accounting | $80,768 |
| Fees for services: Lobbying | $2,427 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $105,029 |
| Fees for services: Other | $2,282,371 |
| Advertising and promotion | $403,340 |
| Office expenses | $442,721 |
| Information technology | $11,124 |
| Royalties | $0 |
| Occupancy | $2,165,861 |
| Travel | $11,301 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,873,865 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,969,456 |
| Insurance | $262,631 |
| All other expenses | $486,863 |
| Total functional expenses | $25,486,452 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,973,245 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,996,069 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $708,043 |
| Inventories for sale or use | $231,805 |
| Prepaid expenses and deferred charges | $297,858 |
| Net Land, buildings, and equipment | $67,483,986 |
| Investments—publicly traded securities | $19,157,427 |
| Investments—other securities | $6,815,035 |
| Investments—program-related | $2,029,278 |
| Intangible assets | $0 |
| Other assets | $451,719 |
| Total assets | $106,144,465 |
| Accounts payable and accrued expenses | $3,215,381 |
| Grants payable | $0 |
| Deferred revenue | $101,120,141 |
| Tax-exempt bond liabilities | $45,721,030 |
| 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 | $15,927,285 |
| Total liabilities | $165,983,837 |
| Net assets without donor restrictions | -$61,483,941 |
| Net assets with donor restrictions | $1,644,569 |
| 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 | $106,144,465 |