Westminster Ingleside Presbyterian Foundation
- Assets
- $26.4m
- Revenue
- $4.6m
- Investments
- $0.0
- Employees
- 4
- Location
- Rockville, MD
- Founding
- 10/1999
- Data as of
- 12/2021
- EIN
- 54-1949766
Organization Overview
Westminster Ingleside Presbyterian Foundation, operating under the name Westminster Ingleside Foundation, is located in Rockville, MD. The organization was established in 1999. 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 12/2021, Westminster Ingleside Foundation employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Westminster Ingleside Foundation 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, Westminster Ingleside Foundation generated $4.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.4% each year. All expenses for the organization totaled $1.8m during the year ending 12/2021. While expenses have increased by 13.7% 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.
Since 2014, Westminster Ingleside Foundation has awarded 24 individual grants totaling $3,710,034. 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT THE MISSION OF THE INGLESIDE, WESTMINSTER, AND KING FARM RETIREMENT COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WESTMINSTER/INGLESIDE/KING FARM RESIDENT SUPPORTING FUND PROGRAM:SINCE THE OPENING OF THE PRESBYTERIAN HOME OF THE DISTRICT OF COLUMBIA IN 1906, NOW NAMED INGLESIDE PRESBYTERIAN RETIREMENT COMMUNITY, INC., AND ITS SISTER COMMUNITIES, WESTMINSTER PRESBYTERIAN RETIREMENT COMMUNITY, INC. AND KING FARM PRESBYTERIAN RETIREMENT COMMUNITY, INC., NO RESIDENT HAS EVER BEEN ASKED TO LEAVE DUE TO LACK OF FINANCIAL RESOURCES. THE WESTMINSTER INGLESIDE PRESBYTERIAN FOUNDATION (WIF) CONTINUES THIS ESSENTIAL TRADITION BY RAISING CHARITABLE FUNDS FOR THE INGLESIDE/WESTMINSTER/KING FARM RESIDENT SUPPORTING FUNDS (RSF). THROUGH THE RSF, CONFIDENTIAL SUBSIDIES TO RESIDENTS IN INDEPENDENT AND ASSISTED LIVING, WHO THROUGH NO FAULT OF THEIR OWN, FIND THEMSELVES NO LONGER ABLE TO AFFORD THEIR MONTHLY FINANCIAL OBLIGATIONS, ARE ABLE TO STAY IN THE COMFORTABLE AND FAMILIAR PLACE THEY CALL HOME. IN 2021 WIF GRANTED $145,030 TO RESIDENTS TO PAY FOR HOUSING, MEALS AND CARE.
QUALITY OF LIFE SUPPORT PROGRAM:THE WESTMINSTER INGLESIDE PRESBYTERIAN FOUNDATION SUPPORTS THE INGLESIDE PRESBYTERIAN RETIREMENT COMMUNITY, INC. (IRC), WESTMINSTER PRESBYTERIAN RETIREMENT COMMUNITY, INC. (WLR), AND KING FARM PRESBYTERIAN RETIREMENT COMMUNITY, INC. (IKF) CONTINUING CARE RETIREMENT COMMUNITIES BY PROVIDING FUNDS TO ENSURE THE HIGHEST QUALITY OF CARE AND SOCIAL ENRICHMENT IN ALL THREE LEVELS OF RESIDENTIAL LIVING: INDEPENDENT, ASSISTED AND SKILLED NURSING. GENERAL OPERATIONAL SUPPORT IS PROVIDED TO THE COMMUNITIES AS WELL AS DESIGNATED GIFTS FOR CAPITAL IMPROVEMENTS FOR THE PURCHASE OF NEW EQUIPMENT AND THE RENOVATION OF FACILITIES. FUNDS TO ENHANCE THE QUALITY OF LIFE OF OUR RESIDENTS ARE PROVIDED TO SUPPORT THE WIDE VARIETY OF CULTURAL, SPIRITUAL, SOCIAL, AND EDUCATIONAL PROGRAMS THAT OCCUR THROUGHOUT THE THREE COMMUNITIES. IN 2021, WIF GRANTED $708,845 TO THE COMMUNITIES FOR OPERATIONAL AND QUALITY OF LIFE SUPPORT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Douglas Myers Wif President & CEO | OfficerTrustee | 40 | $311,998 |
Robert Bremner Vice-Chairman | OfficerTrustee | 1.3 | $0 |
Janet Kelley Chairman | OfficerTrustee | 1 | $0 |
Peggy Cecchine Secretary | OfficerTrustee | 1 | $0 |
Tim Myers CFO (until 10/23/21) | Officer | 5 | $0 |
Salvatore J Albanese SVP Human Resources | Officer | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $207,213 |
| Related organizations | $563,370 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,904,487 |
| Noncash contributions included in lines 1a–1f | $226,495 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,675,070 |
| Total Program Service Revenue | $0 |
| Investment income | $474,890 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $485,957 |
| Net Income from Fundraising Events | $2,049 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,637,966 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $853,875 |
| 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. | $324,662 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $289,940 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $31,471 |
| Payroll taxes | $29,923 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,161 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $106,436 |
| Fees for services: Other | $41,980 |
| Advertising and promotion | $0 |
| Office expenses | $16,283 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $58,138 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $421 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,810,264 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $393,957 |
| Pledges and grants receivable | $380,052 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $11,150 |
| Net Land, buildings, and equipment | $266 |
| Investments—publicly traded securities | $25,598,699 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $26,605 |
| Total assets | $26,410,729 |
| Accounts payable and accrued expenses | $12,246 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $4,628,257 |
| Total liabilities | $4,640,503 |
| Net assets without donor restrictions | $678,225 |
| Net assets with donor restrictions | $21,092,001 |
| 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 | $26,410,729 |
Grants Awarded
Over the last fiscal year, Westminster Ingleside Presbyterian Foundation has awarded $853,875 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
Rockville, MD PURPOSE: TO SUPPORT THE CHARITABLE ACTIVITIES OF THE RELATED ORGANIZATION. | $620,841 |
Rockville, MD PURPOSE: TO SUPPORT THE CHARITABLE ACTIVITIES OF THE RELATED ORGANIZATION. | $164,710 |
Rockville, MD PURPOSE: TO SUPPORT THE CHARITABLE ACTIVITIES OF THE RELATED ORGANIZATION. | $68,324 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Westminster Ingleside Presbyterian Foundation has recieved totaling $29,010.
| Awarding Organization | Amount |
|---|---|
Bny Mellon Charitable Gift Fund Boston, MA PURPOSE: TO FURTHER THE ORGANIZATION'S EXEMPT PURPOSE | $15,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: HUMAN SERVICES | $8,000 |
The Phase Foundation Germantown, MD PURPOSE: TO GO TOWARD THE RESIDENT SUPPORTING FUND OF INGLESIDE AT KING FARM. | $5,000 |
S F Foundation Inc Landover, MD PURPOSE: FOR THE EXEMPT FUNCTION OF THE ORGANIZATION | $1,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $10 |
Endowment Analysis
| Beg. Balance | $2,483,679 |
| Earnings | $302,065 |
| Net Contributions | $550,737 |
| Grants | $94,892 |
| Ending Balance | $3,241,589 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Moravian Village Of Bethlehem Bethlehem, PA | $74,343,954 | $19,911,429 |
The Glebe Inc Glen Allen, VA | $79,347,451 | $20,057,701 |
The Washington Center For Internships And Academic Seminars Washington, DC | $44,342,830 | $20,060,220 |
Homewood At Williamsport Md Inc Williamsport, MD | $33,819,654 | $18,842,651 |
Sarah A Reed Home Erie, PA | $16,706,184 | $19,190,049 |
Williamsport Home Williamsport, PA | $21,816,206 | $17,908,824 |
Alliance Foundation Of Florida Inc Fairfax, VA | $3,980,019 | $2,209,632 |
Holy Family Senior Living Bethlehem, PA | $8,945,725 | $16,667,938 |
G D L Farms Corporation Warrington, PA | $47,389,646 | $9,746,862 |
Lecom At Presque Isle Inc Erie, PA | $21,458,135 | $11,034,929 |
The Shook Home Chambersburg, PA | $25,432,316 | $13,913,472 |
Lifespire Of Virginia Glen Allen, VA | $66,161,909 | $8,820,978 |