Baptist Retirement Homes Foundation
- Assets
- $48.0m
- Revenue
- $2.8m
- Investments
- $7.2m
- Employees
- 0
- Location
- Winston Salem, NC
- Founding
- 10/2000
- Data as of
- 09/2021
- EIN
- 56-2205837
Organization Overview
Baptist Retirement Homes Foundation is located in Winston Salem, NC. The organization was established in 2000. According to its NTEE Classification (L11) the organization is classified as: Single Organization Support, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Baptist Retirement Homes Foundation 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, Baptist Retirement Homes Foundation generated $2.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (15.1%) each year. All expenses for the organization totaled $1.6m during the year ending 09/2021. 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
FUND AND SUPPORT THE BENEVOLENT MINISTRY OF BAPTIST RETIREMENT HOMES OF NORTH CAROLINA, INC.
Describe the Organization's Program Activity:
BAPTIST RETIREMENT HOMES FOUNDATION'S MISSION IS TO PRIMARILY SUPPORT THE BENEVOLENT MINISTRY OF THE BAPTIST RETIREMENT HOMES OF NORTH CAROLINA, INCORPORATED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Beth T Jones President | OfficerTrustee | 1 | $0 |
Phillip R Feagan Vice President | OfficerTrustee | 1 | $0 |
Sarah H Mayo Treasurer | OfficerTrustee | 1 | $0 |
Janet Mullaney Secretary | OfficerTrustee | 1 | $0 |
Reed A Vanderslik Asst Secretary | Officer | 4 | $0 |
Debra A Meginnis Asst Treasurer | Officer | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $180,000 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,515 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $185,515 |
| Total Program Service Revenue | $0 |
| Investment income | $1,015,353 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,628,417 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,829,285 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,174,399 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $143,435 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $200 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $11,791 |
| Insurance | $307 |
| All other expenses | $315,584 |
| Total functional expenses | $1,645,716 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,408,811 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $1,132,625 |
| Investments—publicly traded securities | $37,866,517 |
| Investments—other securities | $7,234,707 |
| Investments—program-related | $0 |
| Intangible assets | $5,000 |
| Other assets | $320,912 |
| Total assets | $47,968,572 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,467,636 |
| Total liabilities | $2,467,636 |
| Net assets without donor restrictions | $27,637,118 |
| Net assets with donor restrictions | $17,863,818 |
| 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 | $47,968,572 |
Endowment Analysis
| Beg. Balance | $6,839,731 |
| Earnings | $1,139,430 |
| Other Expense | $96,771 |
| Ending Balance | $7,882,390 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Cahec Management Inc Raleigh, NC | $9,947,968 | $10,365,211 |
Vsu Auxiliary Services Real Estatefoundation Inc Valdosta, GA | $163,910,452 | $6,694,353 |
Richfield Foundation Salem, VA | $0 | $0 |
Aldersgate Life Plan Services Inc Charlotte, NC | $512,670 | $138,330 |
American Village Communities Inc Fairfax, VA | $10,611,697 | $3,645,882 |
230 John Wesley Dobbs Boulevard Ventures Inc Atlanta, GA | $13,295,834 | $2,161,354 |
Holston United Methodist Home For Children Foundation Inc Greeneville, TN | $46,120,321 | $4,035,558 |
Baptist Retirement Homes Foundation Winston Salem, NC | $47,968,572 | $2,829,285 |
Early Learning Property Management Inc Atlanta, GA | $26,441,881 | $2,751,537 |
Deerfield Charitable Foundation Asheville, NC | $16,996,116 | $890,781 |
Virginia Community Development Fund Inc Richmond, VA | $8,280,823 | $4,728,316 |
Coker College Properties Hartsville, SC | $10,600,591 | $303,099 |