Ring House Corporation
- Assets
- $28.3m
- Revenue
- $8.6m
- Investments
- $0.0
- Employees
- 21
- Location
- Rockville, MD
- Founding
- 06/1987
- Data as of
- 12/2022
- EIN
- 52-1491121
Organization Overview
Ring House Corporation is located in Rockville, MD. The organization was established in 1987. According to its NTEE Classification (L22) the organization is classified as: Senior Citizens Housing & Retirement Communities, under the broad grouping of Housing & Shelter and related organizations. As of 12/2022, Ring House Corporation employed 21 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ring House Corporation 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 12/2022, Ring House Corporation generated $8.6m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (2.1%) each year. All expenses for the organization totaled $8.6m during the year ending 12/2022. 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
THE MISSION OF RING HOUSE CORPORATION IS TO PROVIDE TO A BROAD SPECTRUM OF INCOME LEVELS ACROSS OUR COMMUNITY HIGH QUALITY INDEPENDENT RESIDENTIAL LIVING, THAT ENRICHES RESIDENTS' LIVES AND REFLECTS JEWISH VALUES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE INDEPENDENT LIVING TO SENIORS, INCLUDING BREAKFAST AND EVENING MEALS, ON SITE MEDICAL AND REHABILITATIVE SERVICES, BUS TRANSPORTATION TO SHOPPING AND AREA CULTURAL EVENTS, ALONG WITH ON SITE ACTIVITIES THAT FOCUS ON THE MIND AND BODY, SUCH AS ART, MUSIC AND DANCE, BOOK CLUBS, ETC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bruce J Lederman President/ceo | Officer | 3 | $0 |
Terri Tanner-Hill Exec VP Fin/cfo | Officer | 3 | $0 |
Warren Slavin CEO Emeritus/sr Advisor | 3 | $0 | |
Simone Brock Exec Dir, Ring | 40 | $112,566 | |
Aaron M Rulnick Chairman | OfficerTrustee | 1 | $0 |
Ian Joseph Secretary | OfficerTrustee | 0.4 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Unidine Corp Food Services | 12/30/22 | $1,304,442 |
Manders Decorating Company Painting | 12/30/22 | $105,760 |
Sage Age Strategies Marketing | 12/30/22 | $108,068 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $76,192 |
| Government grants | $0 |
| 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 | $76,192 |
| Total Program Service Revenue | $8,202,527 |
| Investment income | $225,141 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,604,190 |
| 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 | $641,564 |
| Pension plan accruals and contributions | $9,777 |
| Other employee benefits | $50,643 |
| Payroll taxes | $49,806 |
| Fees for services: Management | $408,703 |
| Fees for services: Legal | $5,013 |
| Fees for services: Accounting | $74,040 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $63,384 |
| Advertising and promotion | $266,415 |
| Office expenses | $47,425 |
| Information technology | $12,634 |
| Royalties | $0 |
| Occupancy | $457,852 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $501 |
| Interest | $441,861 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,378,833 |
| Insurance | $190,709 |
| All other expenses | $184,443 |
| Total functional expenses | $8,643,805 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,227,103 |
| Savings and temporary cash investments | $1,595,574 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $71,722 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $21,112 |
| Prepaid expenses and deferred charges | $226,822 |
| Net Land, buildings, and equipment | $8,414,226 |
| Investments—publicly traded securities | $10,993,312 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $424,024 |
| Other assets | $2,309,998 |
| Total assets | $28,283,893 |
| Accounts payable and accrued expenses | $224,079 |
| Grants payable | $0 |
| Deferred revenue | $46,820 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $741,410 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $11,235,647 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $542,932 |
| Total liabilities | $12,790,888 |
| Net assets without donor restrictions | $15,493,005 |
| 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 | $28,283,893 |