Cypress Of Charlotte Club Inc

Organization Overview

Cypress Of Charlotte Club Inc, operating under the name The Cypress Of Charlotte, is located in Charlotte, NC. The organization was established in 2002. 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 12/2022, Cypress Of Charlotte employed 554 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cypress Of Charlotte is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.

For the year ending 12/2022, Cypress Of Charlotte generated $25.1m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.1% each year. All expenses for the organization totaled $21.2m during the year ending 12/2022. While expenses have increased by 3.6% per year over the past 8 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

2022

Describe the Organization's Mission:

Part 3 - Line 1

THE CYPRESS OF CHARLOTTE CLUB, INC WAS ESTABLISHED AS A NON-PROPIETARY, NON-SHAREHOLDER, NOT-FOR-PROFIT MUTUAL BENEFIT CORPORATION UNDER THE LAWS OF NC, EXCLUSIVELY TO MAINTAIN HOUSING FOR ELDERLY, TO DIRECTLY PROVIDE HEALTHCARE FOR THE PHYSICAL AND MENTAL WELL-BEING OF ITS RESIDENTS, TO PROVIDE FINANCIAL SECURITY FOR ITS RESIDENTS WITH POLICIES PERMITTING RESIDENTS TO REMAIN AT THE CYPRESS EVEN THOUGH THEY MAY RUN OUT OF FUNDS, AND TO OPERATE THE FACILITY AT ITS LOWEST FEASIBLE AND ACCEPTABLE COST.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE CYPRESS OF CHARLOTTE CLUB PROVIDES SERVICES TO ELDERLY RESIDENTS LIVING IN 310 PRIVATELY OWNED RESIDENTIAL UNITS. RESIDENTS RECEIVED ASSISTED LIVING, INCLUDING HEALTHCARE, FOR PHYSICAL AND MENTAL WELL BEING.


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Board, Officers & Key Employees

Name (title)Compensation
Marc Puntereri
President
$0
James P Coleman
Vice President & Treasurer
$0
Michael J Harrison
Director
$0
Dr Robert Higgins
Director
$0
Michelle Fish
Director
$0
Marty Jensen
Exec Dir/treasurer/secretary
$0

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Choate Construction
Construction Contract
$4,965,246
Life Care Companies Llc
Management Services
$1,601,231
Sysco Food Service
Food Services
$1,505,186
Arthur J Gallagher Risk Management Servi
Management Services
$631,223
The Cypress Of Charlotte Llc
Contractual Overhead
$1,491,515
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $4,467,907
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$4,467,907
Total Program Service Revenue$20,635,027
Investment income $5,009
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 $25,107,943

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