Presbyterian Homes Inc is located in Colfax, NC. 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. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Presbyterian Homes 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 09/2021, Presbyterian Homes Inc generated $28.6m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.0% each year. All expenses for the organization totaled $24.4m during the year ending 09/2021. While expenses have increased by 3.8% 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 VISION OF GLENAIRE INC IS PROVIDING A COMMUNITY OF EXCELLENCE AND INNOVATION IN A STABLE AND COMPASSIONATE ENVIRONMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GLENAIRE INC, PROVIDES RESIDENTIAL, ASSISTED LIVING AND NURSING CARE FOR APPROXIMATELY 422 SENIOR ADULT RESIDENTS. SERVICES INCLUDE HOUSEKEEPING, FOOD SERVICE, MEDICAL AND OTHER SUPPORT SERVICES IN A CONTINUING CARE COMMUNITY.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Eddie Williford President | OfficerTrustee | 1 | $0 |
Doug Brown Vice President | OfficerTrustee | 1 | $0 |
Susan Hodges Secretary | OfficerTrustee | 1 | $0 |
Becky King Treasurer | OfficerTrustee | 1 | $0 |
Debbie Pappas Board Member | Trustee | 1 | $0 |
David Bookhout Board Member | Trustee | 1 | $0 |
Statement of Revenue | |
---|---|
Total Revenue from Contributions, Gifts, Grants & Similar | $1,006,068 |
Investment income | $436,100 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $50,374 |
Net Gain/Loss on Asset Sales | $1,729,043 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $28,625,246 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic individuals. | $605,679 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $1,075,069 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $9,164,650 |
Pension plan accruals and contributions | $188,413 |
Other employee benefits | $1,267,048 |
Payroll taxes | $735,599 |
Fees for services: Management | $0 |
Fees for services: Legal | $16,832 |
Fees for services: Accounting | $30,174 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $39,560 |
Fees for services: Other | $488,627 |
Advertising and promotion | $92,837 |
Office expenses | $4,660,593 |
Information technology | $306,809 |
Royalties | $0 |
Occupancy | $993,280 |
Travel | $28,002 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $36,847 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $3,104,886 |
Insurance | $276,033 |
All other expenses | $0 |
Total functional expenses | $24,357,631 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $0 |
Savings and temporary cash investments | $10,181,756 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $1,902,497 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $0 |
Inventories for sale or use | $11,973 |
Prepaid expenses and deferred charges | $240,520 |
Investments—publicly traded securities | $83,980,166 |
Investments—other securities | $0 |
Investments—program-related | $6,034,000 |
Intangible assets | $0 |
Other assets | $34,652 |
Total assets | $216,165,561 |
Accounts payable and accrued expenses | $6,166,630 |
Grants payable | $0 |
Deferred revenue | $25,037,838 |
Tax-exempt bond liabilities | $117,838,824 |
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 | $10,736,797 |
Total liabilities | $159,780,089 |
Net assets without donor restrictions | $56,385,472 |
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 |
Total liabilities and net assets/fund balances | $56,385,472 |