The Army Retirement Residence Foundation-Potomac
- Assets
- $4.6m
- Revenue
- $419.5k
- Investments
- $3.8m
- Employees
- 0
- Location
- Fort Belvoir, VA
- Founding
- 08/2000
- Data as of
- 12/2021
- EIN
- 54-1252635
Organization Overview
The Army Retirement Residence Foundation-Potomac is located in Fort Belvoir, VA. The organization was established in 2000. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Army Retirement Residence Foundation-Potomac 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, Army Retirement Residence Foundation-Potomac generated $419.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (5.3%) each year. All expenses for the organization totaled $228.2k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (13.5%) per year over the past 3 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Army Retirement Residence Foundation-Potomac has awarded 19 individual grants totaling $402,647. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
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Board, Officers & Key Employees
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $74,598 |
| Interest on Savings | $0 |
| Dividends & Interest | $66,940 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $239,955 |
| Capital Gain Net Income | $239,955 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $38,000 |
| Total Revenue | $419,493 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $91,260 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,439 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $75,793 |
| Total operating and administrative expenses | $185,382 |
| Contributions, gifts, grants paid | $42,842 |
| Total expenses and disbursements | $228,224 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1 |
| Savings and temporary cash investments | $131,584 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $1,926,893 |
| Net Land, buildings, and equipment | $675,206 |
| Other assets | $0 |
| Total assets | $4,606,611 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $235,817 |
| Total liabilities | $235,817 |
Grants Awarded
Over the last fiscal year, The Army Retirement Residence Foundation-Potomac has awarded $42,842 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
GRANTEE 009 PURPOSE: FINANCIAL ASSISTANCE TO NEEDY RETIREES | $22,497 |
FAIRFAX RESIDENCE ASSOCIATION PURPOSE: "RAGEF" PROGRAM SUPPORT | $11,000 |
GRANTEE 012 PURPOSE: FINANCIAL ASSISTANCE TO NEEDY RETIREES | $9,345 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that The Army Retirement Residence Foundation-Potomac has recieved totaling $250.
| Awarding Organization | Amount |
|---|---|
Richard And Sandra Toye Charitable Tr Fort Belvoir, VA PURPOSE: CHARITY FUND | $250 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
King Farm Presbyterian Retirement Rockville, MD | $301,432,870 | $34,783,503 |
Arbor Acres United Methodist Retirement Community Inc Winstonsalem, NC | $155,220,604 | $40,394,713 |
Chapel Hill Residential Retirement Center Inc Chapel Hill, NC | $120,640,930 | $31,949,437 |
Stoddard Baptist Global Care Washington, DC | $21,239,255 | $34,652,539 |
Carolina Village Inc Hendersonville, NC | $124,169,436 | $34,185,742 |
Galloway Ridge Inc Pittsboro, NC | $130,866,786 | $36,150,184 |
Kenton Housing Inc Latonia, KY | $68,380,829 | $31,745,821 |
Village At Orchard Ridge Inc Frederick, MD | $155,766,299 | $22,895,299 |
Virginia Lutheran Homes Inc Roanoke, VA | $83,707,371 | $28,580,430 |
The Lutheran Village At Millers Grant Inc Westminster, MD | $146,336,066 | $23,586,793 |
Mercy Ridge Inc Timonium, MD | $148,105,442 | $23,349,399 |
Maryland Masonic Homes Ltd Cockeysville, MD | $7,522,127 | $24,357,243 |