Aldersgate United Methodist Retirement Community Inc

Organization Overview

Aldersgate United Methodist Retirement Community Inc is located in Charlotte, NC. The organization was established in 1946. 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 12/2021, Aldersgate United Methodist Retirement Community Inc employed 675 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Aldersgate United Methodist Retirement Community 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 12/2021, Aldersgate United Methodist Retirement Community Inc generated $44.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.1% each year. All expenses for the organization totaled $48.2m during the year ending 12/2021. While expenses have increased by 6.4% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

PROVISION OF EXCELLENT CONTINUING CARE SERVICES FOR OLDER ADULTS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

ALDERSGATE PROVIDES HOUSING, MEALS, SECURITY, ASSISTANCE WITH ESSENTIAL ACTIVITIES OF DAILY LIVING, SKILLED NURSING CARE, AND RELATED SERVICES DESIGNED SPECIFICALLY FOR SENIOR ADULTS WHILE OFFERING RELIGIOUS, CULTURAL, RECREATIONAL AND OTHER ACTIVITIES INCLUDING OPPORTUNITIES FOR COMMUNITY VOLUNTEERING AND TRANSPORTATION TO EVENTS AND APPOINTMENTS. SERVICES ARE PROVIDED 24 HOURS PER DAY. ALDERSGATE MAKES EVERY EFFORT TO CONTINUE PROVIDING SERVICES TO RESIDENTS WHO NEED SUPPLEMENTAL FINANCIAL ASSISTANCE.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Select Rehabilitation
Rehabilitation Services
$1,879,148
The Mack-martin Co Llc
Construction
$715,007
Us Foods
Food Service
$1,207,539
Labcorp
Covid Testing
$500,000
Reliable Restorations
Construction
$801,210
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $3,578,383
All other contributions, gifts, grants, and similar amounts not included above$142,363
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$3,720,746
Total Program Service Revenue$40,696,925
Investment income $307,991
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 $44,725,662

Grants Recieved

Over the last fiscal year, we have identified 1 grants that Aldersgate United Methodist Retirement Community Inc has recieved totaling $20,722.

Awarding OrganizationAmount
Foundation For The Carolinas

Charlotte, NC

PURPOSE: CHARITABLE GIFT

$20,722
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$1,876,106
Earnings$158,428
Ending Balance$2,034,534

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