Kings Bridge Retirement Inc
- Assets
- $16.5m
- Revenue
- $7.5m
- Investments
- $0.0
- Employees
- 132
- Location
- Atlanta, GA
- Founding
- 02/1983
- Data as of
- 09/2021
- EIN
- 58-1491527
Organization Overview
Kings Bridge Retirement Inc is located in Atlanta, GA. 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 09/2023, Kings Bridge Retirement Inc employed 132 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kings Bridge Retirement 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 09/2021, Kings Bridge Retirement Inc generated $7.5m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.7% each year. All expenses for the organization totaled $8.3m during the year ending 09/2021. While expenses have increased by 5.0% per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
OUR MISSION IS TO PROVIDE HIGH-QUALITY HOUSING WITH A COMMUNITY ENVIRONMENT AND HOMELIKE ATMOSPHERE FOR SENIOR ADULTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INDEPENDENT AND ASSISTED LIVING COMMUNITY PROVIDES RETIREMENT HOUSING AND INDEPENDENT LIVING SUPPORT TO APPROXIMATELY 156 RESIDENTS AND ASSISTED LIVING SUPPORT TO 46 RESIDENTS. MEMORY CARE UNIT PROVIDES ADDITIONAL RESIDENT SPECIFIC ACTIVITIES TO 11 DIFFERENT RESIDENTS AS PART OF ITS ASSISTED LIVING UNIT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kevin Shaw Executive Director | Officer | 50 | $212,267 |
Carolyn Davis Director Of Operations | 40 | $99,164 | |
Brandy Robinson Director Of Marketing | 40 | $107,689 | |
Randy Black Business Manager | Officer | 40 | $78,058 |
Mary Geurin Secretary-Treasurer | Trustee | 1 | $0 |
Jack English Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Morrison Living Food Services | 9/29/23 | $1,911,244 |
Ics General Contractor Construction | 9/29/23 | $1,546,418 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $370,142 |
| Investment income | $1,652 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $65,444 |
| 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 | -$838 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,548,633 |
| Statement of Expenses | |
|---|---|
| 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. | $329,272 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,481,387 |
| Pension plan accruals and contributions | $44,044 |
| Other employee benefits | $201,443 |
| Payroll taxes | $202,167 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $29,783 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,802,395 |
| Advertising and promotion | $162,530 |
| Office expenses | $170,172 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $785,778 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $926 |
| Interest | $238,072 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,412,720 |
| Insurance | $221,980 |
| All other expenses | $0 |
| Total functional expenses | $8,338,564 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $268,417 |
| Savings and temporary cash investments | $496,428 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $12,804 |
| 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 | $14,732 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $102,700 |
| Total assets | $16,501,315 |
| Accounts payable and accrued expenses | $293,800 |
| 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 | $7,456,069 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $109,406 |
| Total liabilities | $7,859,275 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $8,642,040 |