Bridgewater Home Inc
- Assets
- $58.1m
- Revenue
- $26.9m
- Investments
- $6.6m
- Employees
- 503
- Location
- Bridgewater, VA
- Founding
- 05/1966
- Data as of
- 09/2021
- EIN
- 54-6043653
Organization Overview
Bridgewater Home Inc is located in Bridgewater, VA. The organization was established in 1966. 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 09/2021, Bridgewater Home Inc employed 503 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bridgewater Home Inc 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 09/2021, Bridgewater Home Inc generated $26.9m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 4.7% each year. All expenses for the organization totaled $22.1m during the year ending 09/2021. While expenses have increased by 2.9% per year over the past 6 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
ASSISTED LIVING AND NURSING CARE
Describe the Organization's Program Activity:
Part 3 - Line 4a
COMPLETE RESIDENTIAL AND NURSING CARE (MEDICAL, FOOD, LAUNDRY & HOUSEKEEPING) - APPROXIMATELY 200 RESIDENTS/PATIENTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeffrey Lambert VP Of Health Serv. | 40 | $116,623 | |
Barbara Frye Director Of Nurs. | 40 | $108,130 | |
Cindy Morris Rn / Instructor | 40 | $84,312 | |
John Neff Vice Chairman | OfficerTrustee | 0 | $0 |
Claire Martindale Chairman | OfficerTrustee | 0 | $0 |
Rodney Alderfer President | Officer | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,175,559 |
| All other contributions, gifts, grants, and similar amounts not included above | $953,160 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,128,719 |
| Total Program Service Revenue | $20,643,500 |
| Investment income | $2,175,457 |
| 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 | $26,947,676 |
| 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 | $10,592,853 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,526,054 |
| Payroll taxes | $653,829 |
| Fees for services: Management | $1,655,545 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $127,889 |
| Advertising and promotion | $0 |
| Office expenses | $814,954 |
| Information technology | $148,089 |
| Royalties | $0 |
| Occupancy | $900,473 |
| Travel | $78,913 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $22,975 |
| Interest | $475,469 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,483,340 |
| Insurance | $420,433 |
| All other expenses | $241,754 |
| Total functional expenses | $22,074,859 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $319,626 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,241,589 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $9,463,272 |
| Inventories for sale or use | $118,340 |
| Prepaid expenses and deferred charges | $337,382 |
| Net Land, buildings, and equipment | $40,028,964 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $6,568,389 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $58,077,562 |
| Accounts payable and accrued expenses | $2,622,022 |
| 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 | $28,166,708 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,113,246 |
| Total liabilities | $33,901,976 |
| Net assets without donor restrictions | $24,175,586 |
| 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 | $58,077,562 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Bridgewater Home Inc has recieved totaling $2,280,307.
| Awarding Organization | Amount |
|---|---|
The Community Foundation Of Harrisonburg And Rockingham County Harrisonburg, VA PURPOSE: ELDERLY | $2,280,307 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Presbyterian Homes Inc Colfax, NC | $256,348,828 | $62,438,008 |
Aldersgate United Methodist Retirement Community Inc Charlotte, NC | $165,248,151 | $44,725,662 |
Everyage Newton, NC | $158,969,277 | $58,100,743 |
Southminster Inc Charlotte, NC | $251,267,272 | $46,562,509 |
Sunnyside Presbyterian Home Harrisonburg, VA | $146,625,946 | $50,868,403 |
Masonic Homes Of Kentucky Inc Masonic Home, KY | $92,700,057 | $43,584,418 |
The Village At Rockville Inc Frederick, MD | $175,992,547 | $34,000,172 |
Asbury Inc Frederick, MD | $80,704,465 | $39,927,876 |
Carolina Meadows Inc Chapel Hill, NC | $159,623,308 | $43,472,709 |
Springmoor Inc Raleigh, NC | $57,744,266 | $37,768,204 |
Williamsburg Landing Inc Williamsburg, VA | $188,766,508 | $45,342,775 |
Moravian Home Incorporated Winstonsalem, NC | $135,166,146 | $36,716,865 |