The Cross Road Rest And Retirement Center Inc
- Assets
- $9.8m
- Revenue
- $5.5m
- Investments
- $1.2m
- Employees
- 172
- Location
- Asheboro, NC
- Founding
- 05/1983
- Data as of
- 09/2022
- EIN
- 58-1491011
Organization Overview
The Cross Road Rest And Retirement Center Inc is located in Asheboro, NC. The organization was established in 1983. 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 09/2022, Cross Road Rest And Retirement Center Inc employed 172 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cross Road Rest And Retirement Center Inc 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, Cross Road Rest And Retirement Center Inc generated $5.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.9% each year. All expenses for the organization totaled $5.5m during the year ending 09/2022. While expenses have increased by 2.1% per year over the past 7 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
CROSS ROAD REST & RETIREMENT CENTER IS DEDICATED TO PROVIDING EXCEPTIONAL RESIDENTIAL, HEALTH AND OUTREACH SERVICES. OUR QUALIFIED AND CARING TEAM SERVES OUR RESIDENTS WITH RESPECT AND DIGNITY IN AN ATMOSPHERE OF LOVE. FOUNDED AS A NON-PROFIT CHRISTIAN MINISTRY, WE ARE COMMITTED TO THE CHANGING NEEDS OF SENIORS AND THEIR FAMILIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CROSS ROAD REST AND RETIREMENT CENTER, INC. OPERATES A 112-BED ASSISTED LIVING FACILITY, A 40-BED ALZHEIMER'S CARE UNIT, AND 83 RETIREMENT APARTMENTS, ALL FOR THE CARE OF SENIOR ADULTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Susan Cagle Director Of | OfficerTrustee | 40 | $67,531 |
Randy Tedder Executive Di | OfficerTrustee | 40 | $67,479 |
Gentry Smith Director | Trustee | 1 | $0 |
Susan West Director | Trustee | 1 | $0 |
Kermit Williamson Director | Trustee | 1 | $0 |
Chad Ross Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
First Class Roofing Construction | 9/29/18 | $193,110 |
John Dunlap Construction Construction | 9/29/18 | $229,502 |
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 | $13,842 |
| Noncash contributions included in lines 1a–1f | $4,349 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $13,842 |
| Total Program Service Revenue | $5,348,047 |
| Investment income | $21,358 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $64,109 |
| Net Gain/Loss on Asset Sales | -$6,598 |
| Net Income from Fundraising Events | $7,087 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,488,912 |
| 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. | $168,272 |
| Compensation of current officers, directors, key employees. | $41,281 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,541,440 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $408,885 |
| Payroll taxes | $195,485 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $25,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $91,845 |
| Advertising and promotion | $8,225 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $257,124 |
| Travel | $9,685 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $153,944 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $575,323 |
| Insurance | $177,142 |
| All other expenses | $155,005 |
| Total functional expenses | $5,450,025 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $506,065 |
| Savings and temporary cash investments | $50,048 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $119,608 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $30,192 |
| Prepaid expenses and deferred charges | $42,348 |
| Net Land, buildings, and equipment | $7,601,076 |
| Investments—publicly traded securities | $51,791 |
| Investments—other securities | $1,198,921 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $199,047 |
| Total assets | $9,799,096 |
| Accounts payable and accrued expenses | $366,762 |
| Grants payable | $0 |
| Deferred revenue | $31,675 |
| 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 | $4,794,647 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $19,524 |
| Total liabilities | $5,212,608 |
| Net assets without donor restrictions | $4,461,126 |
| Net assets with donor restrictions | $125,362 |
| 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 | $9,799,096 |
Endowment Analysis
| Beg. Balance | $62,785 |
| Earnings | -$15,465 |
| Net Contributions | $4,471 |
| Ending Balance | $51,791 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lakeshore Estate Inc Nashville, TN | $27,064,642 | $18,022,154 |
Beth Sholom Home Of Eastern Virginia Virginia Beach, VA | $27,551,493 | $20,688,012 |
Samaritan Housing Foundation Inc Cary, NC | $309,375,809 | $14,744,618 |
Penick Village Inc Southern Pines, NC | $72,235,809 | $19,517,376 |
Lexington Retirement Community Inc Lexington, VA | $110,623,438 | $22,740,309 |
Ave Maria Home Memphis, TN | $24,665,366 | $18,165,699 |
Central Georgia Senior Health Inc Macon, GA | $135,213,897 | $22,356,882 |
Blakeford At Green Hills Corporation Nashville, TN | $102,878,006 | $17,185,961 |
Masonic And Eastern Star Home Greensboro, NC | $138,321,577 | $15,654,772 |
Culpeper Baptist Retirement Community Inc Glen Allen, VA | $85,756,806 | $15,427,505 |
Lutheran Home-Hickory Inc Salisbury, NC | $8,958,824 | $16,014,095 |
Covenant Village Inc Gastonia, NC | $24,815,314 | $14,664,679 |