Bishop Gadsden Episcopal Retirement Community is located in Charleston, SC. The organization was established in 1943. 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. As of 12/2023, Bishop Gadsden Episcopal Retirement Community employed 886 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bishop Gadsden Episcopal Retirement Community 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, Bishop Gadsden Episcopal Retirement Community generated $63.2m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 8.4% each year. All expenses for the organization totaled $67.2m during the year ending 12/2023. While expenses have increased by 10.2% 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 2021, Bishop Gadsden Episcopal Retirement Community has awarded 14 individual grants totaling $1,204,719. 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 A FAITH-BASED RETIREMENT FACILITY PROVIDING HOUSING AND HEALTH CARE SERVICES
Describe the Organization's Program Activity:
Part 3 - Line 4a
FOUNDED BY THE FOURTH EPISCOPAL BISHOP OF SOUTH CAROLINA IN 1850, BISHOP GADSDEN EPISCOPAL RETIREMENT COMMUNITY UPHOLDS THE TRADITION OF FAITH-BASED, NOT-FOR-PROFIT ORGANIZATIONS DEDICATED TO THE WELL-BEING OF THOSE PERSONS WHO, BECAUSE OF AGE, PERSONAL CONDITIONS, HEALTH AND THEIR EXPRESS DESIRE, CHOOSE TO RESIDE IN A RETIREMENT COMMUNITY. BISHOP GADSDEN IS A MISSION-DRIVEN, ORGANIZATION WHICH HAS A LONG-TERM OBLIGATION TO ITS RESIDENTS AND IS COMMITTED TO REMOVING FINANCIAL BARRIERS TO RESIDENCY. ITS ROOTS IN THE GREATER CHARLESTON COMMUNITY SPAN OVER 174 YEARS AND, THROUGH THE YEARS, IT HAS RESPONDED TO SPECIFIC NEEDS OF THE GREATER COMMUNITY. IT HAS LONG BEEN OPEN TO ALL MEN AND WOMEN WITHOUT REGARD TO RACE, CREED, RELIGION, SEXUAL PREFERENCE, OR NATIONAL ORIGIN.RETIREMENT COMMUNITY: BISHOP GADSDEN SERVES APPROXIMATELY 500 SENIOR ADULTS, 62 YEARS OF AGE AND OLDER, RESIDING IN FOUR LEVELS OF CARE: INDEPENDENT COMMUNITY (268 UNITS), ASSISTED LIVING (79 UNITS), MEMORY SUPPORT (32 BEDS), AND SKILLED NURSING CARE (100 BEDS). BISHOP GADSDEN OPERATES TO MEET THE PRIMARY NEEDS OF SENIORS BY PROVIDING (1) RESIDENTIAL FACILITIES DESIGNED TO MEET PHYSICAL, EMOTIONAL, RECREATIONAL, SOCIAL, RELIGIOUS, AND SIMILAR NEEDS OF THE ELDERLY, (2) ACCESS TO HEALTH CARE SERVICES AS NEEDED, (3) ASSURANCE THAT THE ORGANIZATION IS RUN IN A FISCALLY RESPONSIBLE MANNER, AND (4) THE COMMITMENT OF FINANCIAL SECURITY TO ANY RESIDENT WHO RUNS OUT OF MONEY THROUGH NO FAULT OF HIS/HER OWN.
CHARITABLE GIVING AND GENEROUS SPIRIT PROGRAMS: THROUGHOUT BISHOP GADSDEN'S HISTORY, A COMMITMENT TO GIVING HAS BEEN ON THE FOREFRONT RESULTING IN OVER $13 MILLION IN CHARITABLE CARE AND GIFTS BEING RAISED FOR CHARITABLE CARE WITHIN THE COMMUNITY AND DISTRIBUTED TO OTHER NON-PROFIT ORGANIZATIONS IN OUR LOCAL COMMUNITY.THE CHARITABLE MISSION COMMITTEE'S NONPROFIT SELECTION CHAIR AND FELLOW RESIDENTS SELECT A SMALL GROUP (5 TO 7) OF NONPROFITS FROM A LIST OF AROUND 30 NONPROFIT GRANT APPLICATIONS TO SUPPORT EACH YEAR. LED BY RESIDENTS, WITH ASSISTANCE FROM TEAM MEMBERS OF THE CHARITABLE GIVING OFFICE, THE CHARITABLE MISSION COMMITTEE SETS A FUNDRAISING GOAL. IN 2023, THIS IMPORTANT COMMITTEE DISBURSED $425,000 IN CASH. THESE FUNDS WERE ALLOCATED AS FOLLOWS: $132,500 EACH, TO MY SISTERS HOUSE AND OUR LADY OF MERCY, $80,000 EACH TO CHARLESTON AREA SENIOR CITIZENS AND KIDS ON POINT, $2,000 CHARLESTON WATERKEEPER, $2,000 TO PET HELPERS TURN90, AND $2,500 TO READING PARTNERS. ADDITIONALLY, $12,200 IN IN-KIND ITEMS, PLUS 600 TOYS FOR HABITAT FOR HUMANITY AND TOYS FOR TOTS WERE DONATED. IN ADDITION TO CHARITABLE CAUSES THAT SUPPORT OUTSIDE ORGANIZATIONS, RESIDENTS AND STAFF CONTRIBUTE TO THE STRONGHEART EMPLOYEE EDUCATION SCHOLARSHIP, WITH $103,000 BEING DISTRIBUTED TO EMPLOYEES FOR EDUCATION PURPOSES AND EDUCATION DEBT ELIMINATION, AS WELL AS THE EMPLOYEE ASSISTANCE FUND, WHICH GAVE LOANS AND GRANTS IN THE NET AMOUNT OF $48,370. IN ADDITION, THE EMPLOYEE ASSISTANCE FUND PROVIDED 102 CARDS AND $102,400 IN BACK-TO-SCHOOL FUNDS FOR ELIGIBLE EMPLOYEES.RESIDENTS AND STAFF CONTRIBUTE MORE THAN 7,200 VOLUNTEER HOURS TO LOCAL AND NATIONAL CHARITABLE ORGANIZATIONS, AN INVESTMENT OF $228,960. ADDITIONALLY, BISHOP GADSDEN'S CULINARY DEPARTMENT DONATED 19,691 POUNDS OF FOOD, EQUALING A GIFT OF $33,499, AND 29,536 MEALS. EXECUTIVE STAFF ALSO SIT ON COMMUNITY BOARDS SUCH AS ROPER ST. FRANCIS, VANTAGE POINT FOUNDATION, LOWCOUNTRY ASSOCIATION OF FUNDRAISING PROFESSIONALS, SC/NC PLANNED GIVING CONFERENCE, SEA ISLAND HABITAT FOR HUMANITY, LEADINGAGE SC AND WE ARE SHARING HOPE.
RESIDENT ASSISTANCE PROGRAM: BISHOP CHRISTOPHER GADSDEN FOUNDED THE HOME FOR ORPHANS AND WIDOWS IN 1850 TO ASSIST THOSE IN NEED. HIS VISION FOR A CARING COMMUNITY IS THE HEART AND SOUL OF THE ORGANIZATION NOW CALLED BISHOP GADSDEN. AT THE CORE OF BISHOP GADSDEN IS THE BELIEF AND EXECUTION OF THE CHARITABLE MISSION.SINCE 1995, BISHOP GADSDEN'S RESIDENT ASSISTANCE FUND HAS DONATED MORE THAN $5.5 MILLION IN CHARITABLE CARE TO RESIDENTS FACING FINANCIAL DIFFICULTIES. THE RESIDENT ASSISTANCE FUND ALLEVIATES ANY ANXIETIES RESIDENTS AND THEIR FAMILIES HAVE BY ASSURING THEM THAT THEY WILL CONTINUE TO RECEIVE THE CARE THEY NEED REGARDLESS OF WHETHER THEY CAN PAY. THROUGH THE CONTINUED EFFORTS OF BISHOP GADSDEN RESIDENTS, FAMILIES, STAFF, AND OTHER ORGANIZATIONS, THE RESIDENT ASSISTANCE FUND CONTINUES TO BE A HIGH PRIORITY. THIS IMPERATIVE FUND ALLOWS BISHOP GADSDEN TO ASSIST RESIDENTS AND FUTURE RESIDENTS WHO, BY NO FAULT OF THEIR OWN, CAN NO LONGER AFFORD THEIR CONTINUED CARE, WHILE ALSO SUPPORTING OUTSIDE CHARITABLE ORGANIZATIONS.ALL RESIDENTS WHO ARE RECEIVING FINANCIAL SUPPORT OR ASSISTANCE ARE BETWEEN THE AGES OF 73-98. THEY COME FROM THE GREATER CHARLESTON AREA, ARE BOTH MALE AND FEMALE, AND CROSS ALL SOCIOECONOMIC LINES. BISHOP GADSDEN WILL CONTINUE TO EXTEND ASSISTANCE TO RESIDENTS, ACTING ON THE FIRM BELIEF THAT REMOVING ECONOMIC BARRIERS TO RESIDENCY IS PART OF ITS MISSION.IN 2023, $229,294 WAS DISTRIBUTED IN CHARITABLE CARE.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Robert Vingi Chair | OfficerTrustee | 1 | $0 |
Brian Hussain Secretary/treasurer | OfficerTrustee | 1 | $0 |
David Adams MD Board Member | Trustee | 1 | $0 |
Robert Baldwin Board Member | Trustee | 1 | $0 |
Heyward Carter Jr ESQ Board Member | Trustee | 1 | $0 |
Barbara Christie Board Member | Trustee | 1 | $0 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
S K Burt Construction Llc Construction Services | 12/30/23 | $2,733,250 |
Turf Techs Llc Landscaping Services | 12/30/23 | $1,104,178 |
Rawls Construction Construction Services | 12/30/23 | $695,855 |
Rlps Architects Architects | 12/30/23 | $427,067 |
Carpet Baggers Construction Services | 12/30/23 | $459,678 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $143,483 |
All other contributions, gifts, grants, and similar amounts not included above | $1,549,199 |
Noncash contributions included in lines 1a–1f | $94,413 |
Total Revenue from Contributions, Gifts, Grants & Similar | $1,692,682 |
Total Program Service Revenue | $56,698,800 |
Investment income | $2,257,736 |
Tax Exempt Bond Proceeds | $285,778 |
Royalties | $0 |
Net Rental Income | $4,807 |
Net Gain/Loss on Asset Sales | -$4,112 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | -$79,758 |
Miscellaneous Revenue | $0 |
Total Revenue | $63,216,970 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $431,500 |
Grants and other assistance to domestic individuals. | $353,582 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $2,124,800 |
Compensation of current officers, directors, key employees. | $291,598 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $24,586,694 |
Pension plan accruals and contributions | $628,564 |
Other employee benefits | $2,923,318 |
Payroll taxes | $2,456,503 |
Fees for services: Management | $0 |
Fees for services: Legal | $11,799 |
Fees for services: Accounting | $67,233 |
Fees for services: Lobbying | $1,250 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $107,124 |
Fees for services: Other | $2,068,602 |
Advertising and promotion | $288,171 |
Office expenses | $2,798,740 |
Information technology | $581,041 |
Royalties | $0 |
Occupancy | $4,984,841 |
Travel | $120,454 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $4,321,543 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $10,773,218 |
Insurance | $2,565,027 |
All other expenses | $408,669 |
Total functional expenses | $67,172,375 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $13,973,735 |
Savings and temporary cash investments | $2,256,918 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $1,458,414 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $0 |
Inventories for sale or use | $179,422 |
Prepaid expenses and deferred charges | $907,959 |
Net Land, buildings, and equipment | $214,597,663 |
Investments—publicly traded securities | $70,029,536 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $6,081,943 |
Total assets | $309,485,590 |
Accounts payable and accrued expenses | $6,337,140 |
Grants payable | $0 |
Deferred revenue | $63,325,392 |
Tax-exempt bond liabilities | $137,573,908 |
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 | $45,023,681 |
Total liabilities | $252,260,121 |
Net assets without donor restrictions | $42,798,548 |
Net assets with donor restrictions | $14,426,921 |
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 | $309,485,590 |
Over the last fiscal year, Bishop Gadsden Episcopal Retirement Community has awarded $425,000 in support to 4 organizations.
Grant Recipient | Amount |
---|---|
CHARLESTON AREA SENIOR CITIZENS PURPOSE: GENERAL COMMUNITY SUPPORT | $80,000 |
KIDS ON POINT PURPOSE: GENERAL COMMUNITY SUPPORT | $80,000 |
MY SISTER'S HOUSE PURPOSE: GENERAL COMMUNITY SUPPORT | $132,500 |
OUR LADY OF MERCY PURPOSE: GENERAL COMMUNITY SUPPORT | $132,500 |