The Methodist Oaks
- Assets
- $759.0k
- Revenue
- $3.4m
- Investments
- $0.0
- Employees
- 1
- Location
- Chapin, SC
- Founding
- 09/1967
- Data as of
- 09/2022
- EIN
- 57-0342656
Organization Overview
The Methodist Oaks is located in Chapin, SC. The organization was established in 1967. 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 an independent organization and not affiliated with a larger national or regional group of organizations. Methodist Oaks 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 09/2022, Methodist Oaks generated $3.4m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (23.1%) each year. All expenses for the organization totaled $2.9m during the year ending 09/2022. As we would expect to see with falling revenues, expenses have declined by (25.6%) per year over the past 7 years. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
PACE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Andy Cox CEO | Officer | 40 | $56,773 |
Mrs Gail C Corn Trustee | Trustee | 1 | $0 |
Bishop Jonathan Holston Ex-Officio | Trustee | 1 | $0 |
Rev Kenneth L Nelson Ex-Officio | Trustee | 1 | $0 |
Rev Barbara L Reid Trustee | Trustee | 1 | $0 |
Mr Robert Scarborough Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Performance Foodservice Non-employee Co | 9/29/20 | $436,659 |
Nexsen Pruet Jacobs & Pollard Llc Non-empl. Comp. | 9/29/20 | $273,177 |
Orange Cut Rate Drug Store Inc Medical/healthc | 9/29/20 | $799,678 |
Trmc Medical/healthc | 9/29/20 | $584,414 |
Medline Industries Medical/healthc | 9/29/20 | $503,158 |
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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $2,279,774 |
| Investment income | $0 |
| 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 | $3,418,335 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $56,773 |
| Compensation of current officers, directors, key employees. | $56,773 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $786,852 |
| Pension plan accruals and contributions | $6,232 |
| Other employee benefits | $0 |
| Payroll taxes | $60,373 |
| Fees for services: Management | $199,003 |
| Fees for services: Legal | $25,677 |
| Fees for services: Accounting | $33,600 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $306 |
| Office expenses | $25,629 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $132,013 |
| Travel | $17,511 |
| 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 | $10,524 |
| Insurance | $278,540 |
| All other expenses | $0 |
| Total functional expenses | $2,917,015 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $262,258 |
| Savings and temporary cash investments | $0 |
| 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 | $496,711 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $758,969 |
| 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 | $71,509 |
| Total liabilities | $71,509 |
| Net assets without donor restrictions | $687,460 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $758,969 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that The Methodist Oaks has recieved totaling $36,703.
| Awarding Organization | Amount |
|---|---|
South Carolina United Methodist Foundation Columbia, SC PURPOSE: SUPPORT | $36,703 |
Endowment Analysis
| Beg. Balance | $3,133,393 |
| Earnings | $27,138 |
| Net Contributions | $159,451 |
| Other Expense | $2,737,798 |
| Ending Balance | $582,184 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Samaritan Housing Foundation Inc Cary, NC | $309,375,809 | $14,744,618 |
Penick Village Inc Southern Pines, NC | $72,235,809 | $19,517,376 |
Central Georgia Senior Health Inc Macon, GA | $135,213,897 | $22,356,882 |
Masonic And Eastern Star Home Greensboro, NC | $138,321,577 | $15,654,772 |
Lutheran Home-Hickory Inc Salisbury, NC | $8,958,824 | $16,014,095 |
Covenant Village Inc Gastonia, NC | $24,815,314 | $14,664,679 |
Christian City Inc Union City, GA | $27,522,237 | $12,222,387 |
Stanley Total Living Center Inc Stanley, NC | $24,950,343 | $11,642,913 |
Grace Lifecare Inc Morganton, NC | $25,476,311 | $10,776,607 |
South Georgia Health Alliance Inc Valdosta, GA | $7,119,537 | $11,380,468 |
Hospice Of The Golden Isles Inc Brunswick, GA | $10,530,796 | $9,801,992 |
Wesley Woods Of Newnan-Peachtree City Inc Atlanta, GA | $27,177,487 | $9,433,504 |