Galloway Ridge Inc
- Assets
- $140.0m
- Revenue
- $37.4m
- Investments
- $0.0
- Employees
- 436
- Location
- Pittsboro, NC
- Founding
- 03/2005
- Data as of
- 12/2023
- EIN
- 56-2277623
Organization Overview
Galloway Ridge Inc, operating under the name Galloway Ridge, is located in Pittsboro, NC. The organization was established in 2005. 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 12/2023, Galloway Ridge employed 436 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Galloway Ridge 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 12/2023, Galloway Ridge generated $37.4m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 3.0% each year. All expenses for the organization totaled $34.7m during the year ending 12/2023. While expenses have increased by 1.8% per year over the past 9 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, Galloway Ridge has awarded 87 individual grants totaling $693,000. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
OPERATION OF CONTINUING CARE RETIREMENT COMMUNITY
Describe the Organization's Program Activity:
Part 3 - Line 4a
GALLOWAY RIDGE, INC. PROVIDED HOUSING, HEALTHCARE, AND OTHER RELATED SERVICES TO RESIDENTS THROUGH THE OPERATION OF A RESIDENT FACILITY CONTAINING 301 INDEPENDENT LIVING UNITS, 22 ASSISTED LIVING UNITS, 14 MULTI-UNIT ASSISTED HOUSING UNITS, 20 MEMORY CARE UNITS, AND 40 SKILLED NURSING UNITS. GALLOWAY RIDGE WELCOME ITS FIRST RESIDENT IN 2005 WITH A MISSION OF PROVIDING ITS RESIDENTS SUPERIOR SERVICES AT A REASONABLE COST AND STRIVING TO PROVIDE A COMPLEMENT OF SERVICES TO SUPPORT THE RESIDENT'S HEALTH, SOCIAL, SPIRITUAL AND RECREATIONAL NEEDS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kelly Mackay President & Director | OfficerTrustee | 5 | $0 |
Robbie Cox Secretary & Director | OfficerTrustee | 5 | $0 |
Marva Price Board Member | Trustee | 1 | $0 |
Valerie Crofton-Harris Board Member | Trustee | 1 | $0 |
Matt Ewend Board Member | Trustee | 1 | $0 |
David Perry Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Functional Pathways Medical Services | 12/30/23 | $1,069,507 |
Myatt Landscaping & Construction Landscaping Services | 12/30/23 | $687,273 |
Weaver Cooke Construction Llc Construction Services | 12/30/23 | $526,072 |
Paula Flores Save Painting Llc Painting Services | 12/30/23 | $300,903 |
William P Smith Dba Riithink Llc Marketing Services | 12/30/23 | $286,832 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $976,051 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $976,051 |
| Total Program Service Revenue | $35,076,657 |
| Investment income | $1,315,903 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $62,760 |
| 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 | $37,431,371 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $100,000 |
| 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. | $478,121 |
| Compensation of current officers, directors, key employees. | $478,121 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $11,764,031 |
| Pension plan accruals and contributions | $131,532 |
| Other employee benefits | $1,848,364 |
| Payroll taxes | $896,987 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $103,598 |
| Fees for services: Accounting | $116,099 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,024,033 |
| Advertising and promotion | $298,968 |
| Office expenses | $384,407 |
| Information technology | $468,612 |
| Royalties | $0 |
| Occupancy | $2,158,880 |
| Travel | $96,400 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $106,161 |
| Interest | $2,377,394 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,417,426 |
| Insurance | $540,138 |
| All other expenses | $34,021 |
| Total functional expenses | $34,695,461 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $373,918 |
| Savings and temporary cash investments | $4,813 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $862,404 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $344,920 |
| Prepaid expenses and deferred charges | $310,737 |
| Net Land, buildings, and equipment | $93,555,342 |
| Investments—publicly traded securities | $31,103,526 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $6,086,286 |
| Other assets | $7,332,856 |
| Total assets | $139,974,802 |
| Accounts payable and accrued expenses | $6,256,975 |
| Grants payable | $0 |
| Deferred revenue | $91,849,404 |
| Tax-exempt bond liabilities | $68,674,176 |
| 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 | $243,674 |
| Other liabilities | $3,446 |
| Total liabilities | $167,027,675 |
| Net assets without donor restrictions | -$32,064,525 |
| Net assets with donor restrictions | $5,011,652 |
| 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 | $139,974,802 |
Grants Awarded
Over the last fiscal year, Galloway Ridge Inc has awarded $66,750 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
AUTISM SOCIETY OF NORTH CAROLINA INC PURPOSE: PROVIDE SUPPORT TO INDIVIDUALS WITH AUTISM AND THEIR FAMILIES | $7,000 |
BOYS & GIRLS CLUB OF CENTRAL CAROLINA WREN FAMILY CENTER PURPOSE: SUPPORT CHILD AND YOUTH PROGRAMS | $10,500 |
CENTRAL CAROLINA COMMUNITY COLLEGE FOUNDATION PURPOSE: PROVIDE SUPPORT FOR EDUCATIONAL & STUDENT SERVICE PROGRAM OFFERINGS | $8,000 |
CHATHAM CARES COMMUNITY PHARMACY PURPOSE: RENT & UTILITIES FOR CLINIC TO PROVIDE FREE MEDICATION | $11,250 |
CHATHAM TRADES INC PURPOSE: PROVIDE SUPPORT TO ASSIST ADULTS WITH INTELLECTUAL AND DEVELOPMENTAL DISABILITIES | $7,000 |
EL FUTURO INC PURPOSE: SUPPORT FOR BILINGUAL MENTAL HEALTH SERVICES | $7,000 |