Moravian Home Incorporated
- Assets
- $135.2m
- Revenue
- $36.7m
- Investments
- $0.0
- Employees
- 558
- Location
- Winstonsalem, NC
- Founding
- 05/1971
- Data as of
- 03/2022
- EIN
- 56-0963926
Organization Overview
Moravian Home Incorporated, operating under the name Salemtowne, is located in Winstonsalem, NC. The organization was established in 1971. 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 03/2022, Salemtowne employed 558 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Salemtowne 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 03/2022, Salemtowne generated $36.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.6% each year. All expenses for the organization totaled $39.0m during the year ending 03/2022. While expenses have increased by 8.1% 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.
Since 2015, Salemtowne has awarded 18 individual grants totaling $1,433,291. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
LONG TERM CARE FOR THE ELDERLY
Describe the Organization's Program Activity:
Part 3 - Line 4a
SALEMTOWNE PROVIDED SERVICES THROUGH LONG-TERM CARE FOR ELDERLY IN THE WINSTON-SALEM COMMUNITY AND SURROUNDING AREAS. IT IS THE MISSION OF THE SALEMTOWNE COMMUNITY OUTREACH PROGRAM TO PROVIDE RESOURCES FOR SERVICES, PROGRAMS AND EDUCATION THAT ENHANCE THE QUALITY OF LIVING AND CARE FOR SENIOR ADULTS OF PIEDMONT NORTH CAROLINA. SALEMTOWNE STRIVES TO SHARE ITS EXPERTISE IN THE AREA OF AGING BY OFFERING EDUCATION AND TRAINING TO SENIOR ADULTS, FAMILIES AND CAREGIVERS; BY UTILIZING ITS TIME, TALENTS, AND FACILITIES FOR PROGRAMS AND EDUCATION; AND BY SPONSORING AND/OR SUPPORTING PROGRAMS OF ORGANIZATIONS AND ASSOCIATIONS DEDICATED TO SENIOR ADVOCACY.
PROVIDED FINANCIAL ASSISTANCE FOR RESIDENTS MOVING THROUGH THE CONTINUUM OF CARE AT SALEMTOWNE. PROVIDED FINANCIAL ASSISTANCE FOR DIRECT ADMISSIONS TO INDEPENDENT LIVING, THE ASSISTED LIVING CENTER & THE HEALTH CARE CENTER AT SALEMTOWNE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Steele CEO | Officer | 40 | $347,807 |
Brian Tuckmantel CFO | Officer | 40 | $196,082 |
Joe Yoon VP Of Healthcare | 40 | $140,078 | |
Ann Nicolette Burris VP Of Sales & Marketing | 40 | $128,517 | |
Floyd Dickey Controller | 40 | $115,745 | |
Clyde Christmas Gm Of Culinary Services | 40 | $106,792 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Functional Pathways Of Tennessee Llc Rehab Services Provider | 3/30/22 | $1,540,962 |
Rlps Architects Construction | 3/30/22 | $1,939,039 |
Frank L Blum Construction Co Construction | 3/30/22 | $655,251 |
Atcom Inc Outsourced Technology Services | 3/30/22 | $755,010 |
The Budd Group Inc Janitorial Services | 3/30/22 | $647,236 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,513,055 |
| All other contributions, gifts, grants, and similar amounts not included above | $553,770 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,066,825 |
| Total Program Service Revenue | $31,860,143 |
| Investment income | $876,536 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$90,907 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $36,716,865 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,203,948 |
| Grants and other assistance to domestic individuals. | $97,459 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $543,888 |
| Compensation of current officers, directors, key employees. | $380,722 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $12,780,797 |
| Pension plan accruals and contributions | $219,095 |
| Other employee benefits | $1,335,231 |
| Payroll taxes | $950,028 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $130,224 |
| Fees for services: Accounting | $161,280 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,257,499 |
| Advertising and promotion | $498,967 |
| Office expenses | $1,741,614 |
| Information technology | $560,847 |
| Royalties | $0 |
| Occupancy | $1,234,718 |
| Travel | $90,675 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $4,182,916 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,243,365 |
| Insurance | $321,096 |
| All other expenses | $35,188 |
| Total functional expenses | $39,004,328 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,271,154 |
| Savings and temporary cash investments | $44,482 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,527,736 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $63,091 |
| Prepaid expenses and deferred charges | $236,948 |
| Net Land, buildings, and equipment | $100,437,045 |
| Investments—publicly traded securities | $28,516,768 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,068,922 |
| Total assets | $135,166,146 |
| Accounts payable and accrued expenses | $3,258,041 |
| Grants payable | $0 |
| Deferred revenue | $34,523,911 |
| Tax-exempt bond liabilities | $85,298,646 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $1,354,428 |
| Unsecured mortgages and notes payable | $1,100,000 |
| Other liabilities | $2,951,327 |
| Total liabilities | $128,486,353 |
| Net assets without donor restrictions | $2,498,805 |
| Net assets with donor restrictions | $4,180,988 |
| 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 | $135,166,146 |
Grants Awarded
Over the last fiscal year, Moravian Home Incorporated has awarded $1,100,400 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
Winston Salem, NC PURPOSE: CHARITABLE DISBURSEMENT | $450,000 |
Winston Salem, NC PURPOSE: CHARITABLE DISBURSEMENT | $450,000 |
Winstonsalem, NC PURPOSE: ESTABLISH SUPPORT FUND | $100,200 |
Winstonsalem, NC PURPOSE: ESTABLISH SUPPORT FUND | $100,200 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Moravian Home Incorporated has recieved totaling $241,698.
| Awarding Organization | Amount |
|---|---|
Lettie Pate Whitehead Foundation Inc Atlanta, GA PURPOSE: For the care of aged women. | $235,000 |
Winston-Salem Foundation Winstonsalem, NC PURPOSE: 9 GRANT(S) FOR VARYING PURPOSES | $6,698 |
Endowment Analysis
| Beg. Balance | $11,842,177 |
| Earnings | $109,702 |
| Net Contributions | $956,240 |
| Other Expense | $943,159 |
| Ending Balance | $11,964,960 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ashby Ponds Inc Ashburn, VA | $1,081,002,554 | $105,782,483 |
Greenspring Village Inc Springfield, VA | $635,246,519 | $86,958,670 |
Goodwin House Incorporated Alexandria, VA | $441,770,291 | $109,508,883 |
Lutheran Homes Of South Carolina Inc Irmo, SC | $120,175,361 | $78,300,034 |
Westminster-Canterbury Corporation Richmond, VA | $326,286,753 | $77,739,552 |
Virginia United Methodist Homes Inc Glen Allen, VA | $253,887,875 | $70,234,834 |
Westminster-Canterbury On Chesapeake Bay Virginia Beach, VA | $226,856,514 | $70,077,492 |
Presbyterian Communities Of South Carolina Columbia, SC | $133,476,143 | $58,903,174 |
Givens Estates Inc Asheville, NC | $338,452,219 | $72,683,846 |
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 |