Penick Village Inc
- Assets
- $72.2m
- Revenue
- $19.5m
- Investments
- $0.0
- Employees
- 379
- Location
- Southern Pines, NC
- Founding
- 07/1964
- Data as of
- 09/2021
- EIN
- 56-0729010
Organization Overview
Penick Village Inc, operating under the name Penick Village, is located in Southern Pines, NC. The organization was established in 1964. 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, Penick Village employed 379 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Penick Village 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, Penick Village generated $19.5m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.4% each year. All expenses for the organization totaled $18.1m during the year ending 09/2021. While expenses have increased by 2.1% 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
OPERATES A LIFE PLANNING COMMUNITY, SEE ALSO PART III, LINE 1.
Describe the Organization's Program Activity:
PENICK VILLAGE PROVIDES HOUSING, SERVICES, AND LONG-TERM CARE TO OVER 230 RESIDENTS. THE SERVICES AND CARE ARE PROVIDED IN INDEPENDENT LIVING, ASSISTED LIVING, AND SKILLED NURSING AREAS. PENICK VILLAGE ALSO CONTRIBUTES TO THE GREATER SOUTHERN PINES COMMUNITY AND MOORE COUNTY IN WHICH IT IS LOCATED BY DONATING TIME AND RESOURCES TO, AMONG OTHERS, THE MOORE COUNTY CHAMBER OF COMMERCE, FIRSTHEALTH HOSPITAL, LEADINGAGE NC, EPISCOPAL DAY SCHOOL, RED CROSS, HABITAT FOR HUMANITY, FRIEND TO FRIEND, AND THE SOUTHERN PINES FIRE AND POLICE DEPARTMENTS. THE PENICK VILLAGE COMMUNITY ALSO PROVIDES FINANCIAL ASSISTANCE TO THOSE RESIDENTS IN NEED.NURSING IS KEY TO THE CONTINUUM OF CARE FOR THE RESIDENTS AT PENICK VILLAGE. SKILLED NURSING SERVICES ARE PROVIDED PER PHYSICIAN ORDERS THAT MAY INCLUDE BUT ARE NOT LIMITED TO ASSISTANCE WITH ACTIVITIES OF DAILY LIVING, MEDICATION ADMINISTRATION, PHYSICAL, OCCUPATIONAL AND SPEECH THERAPY, SPECIALIZED DIETS AND OTHER NEEDS PER ORDERS. THE QUALITY NURSING IS KEY TO ACHIEVING THIS AND IN MAXIMIZING THE QUALITY OF LIFE FOR EACH OF THE RESIDENTS. THE CARE IS PERSONALIZED, AND A STRONG PARTNERSHIP IS DEVELOPED AMONG THE RESIDENT, HIS OR HER FAMILY, AND THE STAFF AT PENICK VILLAGE IN ORDER TO HAVE THE RESIDENT'S NEEDS DRIVE HIS OR HER PLAN OF CARE. PENICK VILLAGE ALSO OFFERS A BROAD RANGE OF IN-HOME SERVICES TO THOSE SENIORS THAT PREFER TO AGE IN HOME. PENICK TAILORS CARE PLANS INDIVIDUALLY, FOLLOWING A FREE IN-HOME CONSULTATION AND ASSESSMENT. POTENTIAL HOME CARE SERVICES INCLUDE COMPANION/SITTER/RESPITE CARE (INCLUDING TRANSPORTATION, LIGHT HOUSEKEEPING, ERRANDS, PET CARE, DAILY CHECK-INS, AND MEDICATION REMINDERS), CARE MANAGEMENT TO ENSURE PROPER TREATMENT, AND POST HOSPITAL DISCHARGE FOLLOW UPS (INCLUDING MEDICARE/LONG-TERM CARE INSURANCE REVIEWS, HOME ORGANIZING/DOWNSIZING, SUPPORT THROUGH DIFFERENT LEVELS OF CARE, HOME SAFETY ASSESSMENTS/MODIFICATIONS, AND REFERRALS TO COMMUMINITY PARTNERS).INDIVIDUALS WHO MOVE INTO PENICK FOR ASSISTED LIVING ARE PROVIDED A UNIQUE SERVICE THAT HAS BEEN PURPOSEFULLY PLANNED TO FILL THEIR INDIVIDUAL NEEDS AND PREFERENCES AND DESIGNED TO SERVE THEM TO THE BEST OF OUR ABILITY. OUR NURSING STAFF MEETS WITH THE NEW RESIDENT AND FAMILY PRIOR TO MOVE IN TO FULLY UNDERSTAND EACH SITUATION AND DESIGN A PERSONALIZED PLAN. ASSISTED LIVING RESIDENTS ENJOY: - A SPACIOUS, PRIVATE APARTMENT- LICENSED CARE SEVEN DAYS A WEEK- DELICIOUS, NUTRITIOUS MEALS- A SAFE SETTING THAT PROMOTES INDEPENDENCE- MEDICATION ASSISTANCE AND/OR ADMINISTRATION AVAILABLE- CARING AND DEDICATED HEALTHCARE PROFESSIONALS- 24-HOUR EMERGENCY CALL SYSTEMS- A VIBRANT SOCIAL ATMOSPHERE- ACCESS TO ALL COMMUNITY AMENITIESDINING SERVICES IS ONE OF PENICK VILLAGE'S ESSENTIAL SERVICES. DINING SERVICES STRIVES TO PRIVIDE A WONDERFUL DINING EXPERIENCE IN ALL LEVELS OF CARE FOR THE RESIDENTS AND THEIR FAMILY AND FRIENDS. THERE ARE SEVERAL DINING OPPORTUNITIES ON THE CAMPUS, INCLUDING THE CAFE EXPERIENCE, A PRIVATE DINING ROOM, CATERING IN ONE'S APARTMENT OR COTTAGE, INDIVIDUALIZED MENUS AND MORE. DINING SERVICES IS COMMITTED TO PREPARING THE SAME QUALITY AND CHOICES OF FOOD ITEMS IN THE HEALTHCARE AREAS THAT ARE AVAILABLE TO INDEPENDENT RESIDENTS. DINING SERVICES ALSO HOSTS EVENTS FOR OTHER SPECIAL COMMUNITY GROUPS SUCH AS THE KIWANIS. AS AN EMPLOYEE BENEFIT, THE STAFF ALSO ENJOYS WONDERFUL MEALS AT A GENEROUS DISCOUNT.PENICK VILLAGE IS ALSO VERY PROUD OF ITS HOUSEKEEPING SERVICES. HOUSEKEEPING PROVIDES GENERAL CLEANING SERVICES ALONG WITH LINEN SERVICES AS REQUESTED. THE HOUSEKEEPING TEAM BUILDS GREAT RELATIONSHIPS WITH THE RESIDENTS THEY ARE SERVING AND HAVE HELPED SIGNIFICANTLY IN TIMES OF NEED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeffrey I Hutchins CEO (former) | Officer | 39 | $233,106 |
Terry Kees CFO | Officer | 39 | $180,887 |
Caroline Eddy Cdo | Officer | 39 | $116,759 |
Caroline Hendricks COO | Officer | 40 | $109,620 |
Gary Krasicky Past President | OfficerTrustee | 1 | $0 |
John Frizzell III President | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Pinnacle Resolute Construction Builder | 9/29/21 | $4,269,328 |
Rehabcare Rehab | 9/29/21 | $502,755 |
Pinnacle Development Design Builder | 9/29/21 | $192,350 |
Medipack Pharmacy Pharmacy | 9/29/21 | $128,432 |
Allied Universal Security | 9/29/21 | $163,402 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $331,953 |
| Government grants | $1,720,100 |
| All other contributions, gifts, grants, and similar amounts not included above | $294,418 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,346,471 |
| Total Program Service Revenue | $17,288,853 |
| Investment income | $236,309 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$354,257 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $19,517,376 |
| 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. | $536,624 |
| Compensation of current officers, directors, key employees. | $536,624 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,116,975 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,552,470 |
| Payroll taxes | $498,789 |
| Fees for services: Management | $455,794 |
| Fees for services: Legal | $190,635 |
| 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 | $361,306 |
| Advertising and promotion | $99,910 |
| Office expenses | $862,905 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $777,510 |
| Travel | $19,680 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $18,848 |
| Interest | $1,601,194 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,165,010 |
| Insurance | $28,440 |
| All other expenses | $169 |
| Total functional expenses | $18,139,506 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,200 |
| Savings and temporary cash investments | $10,284,844 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,111,098 |
| 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 | $264,686 |
| Net Land, buildings, and equipment | $47,361,742 |
| Investments—publicly traded securities | $11,813,923 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $398,316 |
| Total assets | $72,235,809 |
| Accounts payable and accrued expenses | $933,567 |
| Grants payable | $0 |
| Deferred revenue | $18,084,086 |
| 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 | $36,273,647 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $6,167,889 |
| Total liabilities | $61,459,189 |
| Net assets without donor restrictions | $9,718,601 |
| Net assets with donor restrictions | $1,058,019 |
| 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 | $72,235,809 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Penick Village Inc has recieved totaling $1,500.
| Awarding Organization | Amount |
|---|---|
Elizabeth Fry And Dupont Kirven Foundation Inc Columbus, GA PURPOSE: OTHER NON PROFIT ORGANIZATIONS | $1,500 |
Endowment Analysis
| Beg. Balance | $329,407 |
| Ending Balance | $329,407 |
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 |
Lenbrook Square Foundation Inc Atlanta, GA | $291,448,667 | $46,078,205 |
Southminster Inc Charlotte, NC | $251,267,272 | $46,562,509 |
Sunnyside Presbyterian Home Harrisonburg, VA | $146,625,946 | $50,868,403 |
Bishop Gadsden Episcopal Retirement Community Charleston, SC | $293,506,409 | $50,827,097 |
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 |
Lakewood Manor Baptist Retirement Community Inc Glen Allen, VA | $206,811,940 | $42,484,506 |