Arbor Acres United Methodist Retirement Community Inc
- Assets
- $155.2m
- Revenue
- $40.4m
- Investments
- $0.0
- Employees
- 607
- Location
- Winstonsalem, NC
- Founding
- 01/1977
- Data as of
- 12/2021
- EIN
- 56-1152263
Organization Overview
Arbor Acres United Methodist Retirement Community Inc is located in Winstonsalem, NC. The organization was established in 1977. According to its NTEE Classification (L22) the organization is classified as: Senior Citizens Housing & Retirement Communities, under the broad grouping of Housing & Shelter and related organizations. As of 12/2021, Arbor Acres United Methodist Retirement Community Inc employed 607 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Arbor Acres 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, Arbor Acres United Methodist Retirement Community Inc generated $40.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.7% each year. All expenses for the organization totaled $38.9m during the year ending 12/2021. While expenses have increased by 4.4% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO SERVE SENIOR ADULTS WHILE PROVIDING SECURITY, CONTENTMENT, AND LIFE WITH MEANING & PURPOSE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ARBOR ACRES, A CONTINUING CARE RETIREMENT COMMUNITY (CCRC), PROVIDING A RESIDENTIAL WINGS CONTAINING 120 UNITS (STUDIO, EFFICIENCY AND CONNECTING ROOM SUITES); 2 TWO-BEDROOM COURTYARD APARTMENTS; 6 ONE-BEDROOM AND 6 TWO-BEDROOM CLUSTER HOMES AND 119 HOUSES. IN ADDITION TO THE INDEPENDENT LIVING FACILITIES, ARBOR ACRES ALSO HAS 95 ADULT CARE HOME BEDS AND 83 NURSING CARE BEDS (LOCATED IN THE FITZGERALD HEALTH CENTER). AS OF DECEMBER 31, 2021, ARBOR ACRES SERVED 466 RESIDENTS IN THE ABOVE UNITS.ARBOR ACRES HOLDS MEMBERSHIPS WITH LEADING AGE (FORMERLY THE AMERICAN ASSOCIATION OF HOMES AND SERVICES FOR THE AGING) AND LEADING AGE NC (FORMERLY THE NORTH CAROLINA ASSOCIATION OF NON-PROFIT HOMES FOR THE AGING). THE FACILITY IS ACCREDITED THROUGH THE CONTINUING CARE ACCREDITATION COMMISSION.AN IMPORTANT COMPONENT OF FULFILLING ARBOR ACRES' MISSION IS THE PROVISION OF FINANCIAL ASSISTANCE SUPPORT TO ENABLE RESIDENTS TO RESIDE AT ARBOR ACRES WHO WOULD OTHERWISE BE UNABLE TO AFFORD TO DO SO. FOR THE YEAR ENDING DECEMBER 31, 2021, $1,066,013 OF FINANCIAL ASSISTANCE WAS PROVIDED TO RESIDENTS TO HELP THEM MAINTAIN RESIDENCY AT THE FACILITY.DURING 2021 THE FOLLOWING SPECIFIC ACCOMPLISHMENTS ENHANCED THE ABILITY TO SERVE RESIDENTS:1. MAINTAINED NEAR FULL OCCUPANCY OF ASSISTED LIVING, MEMORY CARE AND SKILLED NURSING LEVELS OF LICENSED CARE AND EXCEEDED 90% OCCUPANCY OF INDEPENDENT LIVING UNITS.2. SPONSORED AND FACILITATED PARTICIPATION OF RESIDENT EFFORTS IN COMMUNITY SERVICE PROJECTS INCLUDE THE SALVATION ARMY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Andrew Applegate CEO | Officer | 40 | $299,952 |
David Matthews CFO | Officer | 40 | $183,470 |
Kathy Gwyn VP Health Services | Officer | 40 | $180,614 |
Kenneth Boyles COO | Officer | 40 | $161,405 |
Kevin Clinkenbeard Director Of Facilities | 40 | $140,762 | |
Lynn Ross Director Of Marketing | 40 | $130,367 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Solid Foundation Construction Inc Construction | 12/30/21 | $1,012,197 |
Frank L Blum Construction Company Construction | 12/30/21 | $5,008,216 |
Us Food Service Food Service | 12/30/21 | $1,136,628 |
Sfcs Inc Architects | 12/30/21 | $756,886 |
Cheney Brothers Food Service | 12/30/21 | $686,687 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $371,340 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,650,574 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,021,914 |
| Total Program Service Revenue | $35,244,106 |
| Investment income | $1,147,533 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,916,551 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $113 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $40,394,713 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $319,000 |
| Grants and other assistance to domestic individuals. | $1,066,013 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $896,231 |
| Compensation of current officers, directors, key employees. | $708,589 |
| Compensation to disqualified persons | $104,228 |
| Other salaries and wages | $13,786,146 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $3,792,221 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $154,375 |
| Fees for services: Accounting | $216,354 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,836,521 |
| Advertising and promotion | $244,033 |
| Office expenses | $2,671,480 |
| Information technology | $107,008 |
| Royalties | $0 |
| Occupancy | $1,628,958 |
| Travel | $17,218 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $458 |
| Interest | $1,307,557 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,661,283 |
| Insurance | $393,147 |
| All other expenses | $2 |
| Total functional expenses | $38,902,524 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,121,721 |
| Savings and temporary cash investments | $592,736 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $635,398 |
| 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 | $370,639 |
| Net Land, buildings, and equipment | $91,186,585 |
| Investments—publicly traded securities | $52,459,061 |
| Investments—other securities | $0 |
| Investments—program-related | $1,536,729 |
| Intangible assets | $1,198,672 |
| Other assets | $119,063 |
| Total assets | $155,220,604 |
| Accounts payable and accrued expenses | $5,935,497 |
| Grants payable | $0 |
| Deferred revenue | $33,969,622 |
| Tax-exempt bond liabilities | $47,194,228 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $490,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $5,261,565 |
| Total liabilities | $92,850,912 |
| Net assets without donor restrictions | $47,362,360 |
| Net assets with donor restrictions | $15,007,332 |
| 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 | $155,220,604 |
Grants Awarded
Over the last fiscal year, Arbor Acres United Methodist Retirement Community Inc has awarded $315,000 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
Winstonsalem, NC PURPOSE: OPERATIONAL SUPPORT | $200,000 |
Winstonsalem, NC PURPOSE: OPERATIONAL SUPPORT | $30,000 |
Winston Salem, NC PURPOSE: OPERATIONAL SUPPORT | $30,000 |
Winstonsalem, NC PURPOSE: OPERATIONAL SUPPORT | $30,000 |
Winstonsalem, NC PURPOSE: OPERATIONAL SUPPORT | $25,000 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Arbor Acres United Methodist Retirement Community Inc has recieved totaling $667,479.
| Awarding Organization | Amount |
|---|---|
Winston-Salem Foundation Winstonsalem, NC PURPOSE: 90 GRANT(S) FOR VARYING PURPOSES | $366,979 |
Lettie Pate Whitehead Foundation Inc Atlanta, GA PURPOSE: For the care of aged women. | $300,000 |
Legatus Foundation Winstonsalem, NC PURPOSE: GENERAL SUPPORT | $500 |
Endowment Analysis
| Beg. Balance | $18,288,955 |
| Earnings | $1,720,288 |
| Net Contributions | $382,761 |
| Other Expense | $711,702 |
| Ending Balance | $19,680,302 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Arbor Acres United Methodist Retirement Community Inc Winstonsalem, NC | $155,220,604 | $40,394,713 |
Chapel Hill Residential Retirement Center Inc Chapel Hill, NC | $120,640,930 | $31,949,437 |
Carolina Village Inc Hendersonville, NC | $124,169,436 | $34,185,742 |
Galloway Ridge Inc Pittsboro, NC | $130,866,786 | $36,150,184 |
Virginia Lutheran Homes Inc Roanoke, VA | $83,707,371 | $28,580,430 |
The Glebe Inc Glen Allen, VA | $79,347,451 | $20,057,701 |
Cypress Of Charlotte Club Inc Charlotte, NC | $4,602,507 | $19,033,502 |
Lavender Mountain Senior Living Inc Mount Berry, GA | $141,195,331 | $5,176,789 |
Cypress Club Inc Hilton Head Island, SC | $31,122,152 | $20,067,120 |
Alliance Foundation Of Florida Inc Fairfax, VA | $3,980,019 | $2,209,632 |
Skidaway Health And Living Services Inc Savannah, GA | $89,340,251 | $17,567,308 |
Lake Prince Center Inc Newton, NC | $22,105,583 | $13,762,352 |