Edgewood Summit Inc is located in Charleston, WV. The organization was established in 1991. 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 06/2021, Edgewood Summit Inc employed 254 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Edgewood Summit 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 06/2021, Edgewood Summit Inc generated $14.6m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.1% each year. All expenses for the organization totaled $12.4m during the year ending 06/2021. While expenses have increased by 0.7% 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
THE ORGANIZATION'S PRIMARY EXEMPT FUNCTION IS TO PROVIDE, ON A NON-PROFIT BASIS, LONG-TERM CARE FACILITIES IN THE STATE OF WEST VIRGINIA SPECIFICALLY DESIGNED TO MEET THE PHYSICAL, SOCIAL AND PSYCHOLOGICAL NEEDS OF ELDERLY AND INFIRM PERSONS, INCLUDING BUT NOT LIMITED TO HOUSING, BUILDINGS, STRUCTURES, EQUIPMENT, FURNISHINGS, PROGRAMS AND RELATED HEALTH AND OTHER SERVICES CONTRIBUTING TO THEIR HEALTH, SECURITY, HAPPINESS AND PHYSICAL AND MENTAL WELL-BEING.THE MISSION OF EDGEWOOD SUMMIT IS TO PROVIDE AN ATTRACTIVE, CARING, COMFORTABLE SENIOR LIVING COMMUNITY. A SECURE ENVIRONMENT AND QUALITY SERVICE THAT WILL BE THE HALLMARK OF THIS COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PROVIDED, ON A NON-PROFIT BASIS, HOUSING, DINING, HOUSEKEEPING, LAUNDRY, TRANSPORTATION, ACTIVITIES, NURSING AND ASSISTED LIVING CARE, MEMORY SUPPORT CARE, AND SKILLED NURSING CARE THROUGH THE OPERATION OF A CCRC - CONTINUUM CARE RETIREMENT COMMUNITY - THAT SERVED 202 RESIDENTS IN 127 INDEPENDENT AND 40 ASSISTED LIVING, 18 MEMORY SUPPORT AND 20 SKILLED NURSING UNITS.
1. EDGEWOOD SUMMIT, INC. HAS BEEN OPEN FOR 26 YEARS. APARTMENTS ARE UPGRADED WHEN TURNOVER OCCURS; THIS INCLUDES FRESH PAID, NEW CARPET. AN ENHANCED UPGRADE TO EACH UNIT INCLUDES - NEW KITCHEN AND BATH CABINET WITH SOLID SURFACE COUNTERTOPS, NEW LIGHTING, NEW KITCHEN APPLIANCES INCLUDING WASHER AND DRYER. ALL ITEMS WITH A USEFUL LIFE REMAINING ARE DONATED TO HABITAT FOR HUMANITY RESTORE. THESE ITEMS INCLUDE: RANGES, REFRIGERATORS, DISHWASHERS, WASHER/DRYER COMBOS, KITCHEN AND BATH CABINETS AND LIGHT FIXTURES. EDGEWOOD SUMMIT TURNED OVER APPROXIMATELY 15 UNITS AND 11 UNITS WERE TOUCHED UP.TOTAL EXPENSES INCURRED: $3,500.002. ANNUALLY EDGEWOOD SUMMIT, INC. PARTICIPATED IN THE FOLLOWING CHARITABLE ACTIVITIES:CEREAL DRIVE FOR MANNA MEALFOOD DRIVE FOR UNION MISSIONREAD-A-LOUD LABELINGBOOK/VHS/DVD DONATIONS TO HABITAT FOR HUMANITY RESTORECLOTHING/BOOKS/PUZZLES DONATED TO WEST VIRGINIA VETERAN'S HOMETOTAL EXPENSES INCURRED: $2,508.003. THROUGHOUT THE FISCAL YEAR EDGEWOOD SUMMIT, INC. MADE MEMORIAL CONTRIBUTIONS TO CHARITABLE ORGANIZATIONS IN MEMORY OF FORMER RESIDENTS, RESIDENT'S FAMILY MEMBERS AND EMPLOYEE FAMILY MEMBERS.TOTAL EXPENSES INCURRED: $525.004. IN THE FALL OF 2013 EDGEWOOD SUMMIT, INC. OPENED THE ARTHUR B. HODGES CENTER WITH 20 SKILLED NURSING AND 18 MEMORY SUPPORT UNITS TO COMPLETE THE FULL CONTINUUM OF CARE ON OUR CAMPUS. ALONG WITH THIS ADDITION ALL NEW RESIDENTS MOVING INTO INDEPENDENT LIVING WILL GET A 20% DISCOUNT FROM FULL CONTRACTUAL RATES AS THEY MOVE THROUGH THE CONTINUUM. EDGEWOOD SUMMIT, INC. HAD APPROXIMATELY 21 RESIDENTS TO TAKE THIS OFFER. DURING THE FISCAL YEAR ENDING JUNE 30, 2021 EDGEWOOD SUMMIT HAD 29 RESIDENTS WITH A HEALTH CARE BENEFIT DISCOUNT IN HIGHER LEVELS OF CARE THAT UTILIZED THE 20% DISCOUNT - AL 10, MS 6 AND SN 13.TOTAL EXPENSES INCURRED: $323,340.00 ANNUAL TOTAL EXPENSE FOR COMMUNITY SERVICES $329,873.00
Name (title) | Role | Hours | Compensation |
---|---|---|---|
George Barker Administrator | 40 | $142,170 | |
Amy Condaras President | OfficerTrustee | 2 | $0 |
Reed Spangler Vice President | OfficerTrustee | 2 | $0 |
Steve Rubin Secretary | OfficerTrustee | 2 | $0 |
John Derito Director | Trustee | 2 | $0 |
Diane Gouhin Executive Director | Officer | 40 | $0 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Glynndevins Ad Agency | 6/29/21 | $357,778 |
Gmsc West Virginia Llc Management Services | 6/29/21 | $461,917 |
Ag Architecture Construction | 6/29/21 | $253,967 |
Agsten Construction Co Construction | 6/29/21 | $195,773 |
Brewer & Co Inc Construction | 6/29/21 | $150,187 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
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 | $0 |
Total Program Service Revenue | $10,719,916 |
Investment income | $270,894 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $3,300 |
Net Gain/Loss on Asset Sales | $3,348,561 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $14,638,696 |
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 | $4,625,932 |
Pension plan accruals and contributions | $35,323 |
Other employee benefits | $751,267 |
Payroll taxes | $375,593 |
Fees for services: Management | $461,917 |
Fees for services: Legal | $35,731 |
Fees for services: Accounting | $45,301 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $96,022 |
Fees for services: Other | $699,091 |
Advertising and promotion | $159,034 |
Office expenses | $1,461,972 |
Information technology | $213,206 |
Royalties | $0 |
Occupancy | $1,302,107 |
Travel | $22,576 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $6,626 |
Interest | $10,533 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $1,528,900 |
Insurance | $350,674 |
All other expenses | $44,686 |
Total functional expenses | $12,429,625 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $18,078 |
Savings and temporary cash investments | $340,307 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $380,287 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $0 |
Inventories for sale or use | $30,124 |
Prepaid expenses and deferred charges | $193,375 |
Net Land, buildings, and equipment | $22,178,023 |
Investments—publicly traded securities | $20,120,688 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $43,260,882 |
Accounts payable and accrued expenses | $858,260 |
Grants payable | $0 |
Deferred revenue | $21,563,178 |
Tax-exempt bond liabilities | $5,037,019 |
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 | $10,299,948 |
Total liabilities | $37,758,405 |
Net assets without donor restrictions | $5,502,477 |
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 | $43,260,882 |
Beg. Balance | $1,557,995 |
Earnings | $334,399 |
Ending Balance | $1,892,394 |
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