Westminster Ingleside Presbyterian Foundation
- Assets
- $29.5m
- Revenue
- $3.6m
- Investments
- $0.0
- Employees
- 4
- Location
- Rockville, MD
- Founding
- 10/1999
- Data as of
- 12/2023
- 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 12/2023, 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 12/2023, Westminster Ingleside Foundation generated $3.6m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 2.7% each year. All expenses for the organization totaled $2.6m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Westminster Ingleside Foundation has awarded 30 individual grants totaling $6,620,409. 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
2023
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. (INGLESIDE AT ROCK CREEK), AND ITS SISTER COMMUNITIES, WESTMINSTER PRESBYTERIAN RETIREMENT COMMUNITY, INC. (WESTMINSTER AT LAKE RIDGE) AND KING FARM PRESBYTERIAN RETIREMENT COMMUNITY, INC. (INGLESIDE AT KING FARM), 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 RESIDENT SUPPORTING FUNDS (RSF). THROUGH THE RSF, CONFIDENTIAL SUBSIDIES TO RESIDENTS IN INDEPENDENT, MEMORY SUPPORTED ASSISTED LIVING, 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 2023 WIF GRANTED $194,062 TO RESIDENTS TO PAY FOR HOUSING, MEALS AND CARE. OVER THE PAST 5 YEARS, WIF HAS PROVIDED $1,039,441 OF ASSISTANCE TO RESIDENTS IN NEED.
WESTMINSTER INGLESIDE FOUNDATION HAS THREE ENDOWMENT FUNDS AS WELL AS ANNUAL CAMPAIGNS TO SUPPORT A COMPREHENSIVE EMPLOYEE PROFESSIONAL DEVELOPMENT PROGRAM. ADDITIONALLY, THIS PROGRAM PROVIDES FINANCIAL AID AND GUIDANCE FOR EMPLOYEES APPLYING FOR U.S. CITIZENSHIP. IN 2023, 84 SCHOLARSHIPS WERE AWARDED TO INGLESIDE EMPLOYEES TOTALING $197,804. SINCE INCEPTION, 350 SCHOLARSHIPS HAVE BEEN AWARDED TOTALING $850,000. WESTMINSTER INGLESIDE FOUNDATION PROVIDES SUPPORT FOR CAPITAL IMPROVEMENTS AND PROGRAM ENHANCEMENTS THAT BENEFIT INGLESIDE COMMUNITIES. PROGRAMS SUPPORTED INCLUDE SKILLED NURSING, ASSISTED LIVING, MEMORY SUPPORT SERVICES, MUSIC AND CULTURAL PROGRAMMING, INNOVATION IN ROBOTICS, OPERATIONS, AND MISSION EXPANSION. THE TOTAL OF FUNDS TRANSFERRED TO THE COMMUNITIES IN SUPPORT OF THESE EFFORTS WAS $1,731,437.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Douglas Myers Wif President & CEO | OfficerTrustee | 40 | $0 |
Peggy Cecchine Director | Trustee | 1 | $0 |
Janet Kelley Chair | OfficerTrustee | 1 | $0 |
Daniel Rubinfeld Vice-Chairman | OfficerTrustee | 1 | $0 |
Cathy Wright Secretary | OfficerTrustee | 1 | $0 |
Don Boardman Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $356,463 |
| Related organizations | $322,567 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,982,591 |
| Noncash contributions included in lines 1a–1f | $78,287 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,661,621 |
| Total Program Service Revenue | $0 |
| Investment income | $632,915 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$729,729 |
| Net Income from Fundraising Events | -$5,753 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,559,054 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,925,499 |
| Grants and other assistance to domestic individuals. | $197,804 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $172,082 |
| Fees for services: Legal | $1,518 |
| Fees for services: Accounting | $16,499 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $96,131 |
| Fees for services: Other | $33,575 |
| Advertising and promotion | $0 |
| Office expenses | $2,476 |
| 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 | $135,943 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $2,645,099 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,001,667 |
| Pledges and grants receivable | $451,179 |
| 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 | $10,861 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $27,993,262 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $26,605 |
| Total assets | $29,483,574 |
| Accounts payable and accrued expenses | $60,044 |
| 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 | $6,446,718 |
| Total liabilities | $6,506,762 |
| Net assets without donor restrictions | $353,101 |
| Net assets with donor restrictions | $22,623,711 |
| 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 | $29,483,574 |
Grants Awarded
Over the last fiscal year, Westminster Ingleside Presbyterian Foundation has awarded $1,925,499 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
INGLESIDE PRESBYTERIAN RETIREMENT COMMUNITY INC PURPOSE: TO SUPPORT THE CHARITABLE ACTIVITIES OF THE RELATED ORGANIZATION. | $1,168,594 |
WESTMINSTER PRESBYTERIAN RETIREMENT COMMUNITY PURPOSE: TO SUPPORT THE CHARITABLE ACTIVITIES OF THE RELATED ORGANIZATION. | $289,183 |
KING FARM PRESBYTERIAN RETIREMENT COMMUNITY INC PURPOSE: TO SUPPORT THE CHARITABLE ACTIVITIES OF THE RELATED ORGANIZATION. | $467,722 |