Agape Retirement Home Inc
- Assets
- $463.8k
- Revenue
- $280.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Valdese, NC
- Founding
- 10/1983
- Data as of
- 09/2022
- EIN
- 58-1522484
Organization Overview
Agape Retirement Home Inc is located in Valdese, 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Agape Retirement Home 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, Agape Retirement Home Inc generated $280.3k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.3% each year. All expenses for the organization totaled $249.4k during the year ending 09/2022. 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
TO OPERATE A 30-UNIT APARTMENT COMPLEX FOR THE ELDERLY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THIRTY HOUSING UNITS ARE PROVIDED TO ELDERLY PERSONS AS DEFINED IN SECTION 207 OF THE NATIONAL HOUSING ACT.
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 |
|---|---|---|---|
Ann Mullis President | OfficerTrustee | 0.5 | $0 |
Woody Poor Treasurer | OfficerTrustee | 0.5 | $0 |
Roy Sweezy Vice President | OfficerTrustee | 0.5 | $0 |
Pam Pons Secretary | OfficerTrustee | 0.5 | $0 |
Susan Stevenson Director | Trustee | 0.5 | $0 |
Gary A Garner Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $196,630 |
| 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 | $196,630 |
| Total Program Service Revenue | $82,309 |
| Investment income | $39 |
| 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 | $280,309 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $20,338 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,020 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $8,599 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $5,870 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $36,515 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $11,419 |
| Insurance | $22,191 |
| All other expenses | $18,380 |
| Total functional expenses | $249,438 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,545 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $431 |
| 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 | $1,548 |
| Net Land, buildings, and equipment | $239,801 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $52,083 |
| Other assets | $164,389 |
| Total assets | $463,797 |
| Accounts payable and accrued expenses | $6,663 |
| Grants payable | $0 |
| Deferred revenue | $6 |
| 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 | $937,765 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $15,929 |
| Total liabilities | $960,363 |
| Net assets without donor restrictions | -$496,566 |
| 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 | $463,797 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Goodwin House Incorporated Alexandria, VA | $441,770,291 | $109,508,883 |
Lutheran Homes Of South Carolina Inc Irmo, SC | $120,175,361 | $78,300,034 |
Westminster-Canterbury Corporation Richmond, VA | $326,286,753 | $77,739,552 |
Virginia United Methodist Homes Inc Glen Allen, VA | $253,887,875 | $70,234,834 |
Westminster-Canterbury On Chesapeake Bay Virginia Beach, VA | $226,856,514 | $70,077,492 |
Presbyterian Communities Of South Carolina Columbia, SC | $133,476,143 | $58,903,174 |
Givens Estates Inc Asheville, NC | $338,452,219 | $72,683,846 |
Presbyterian Homes Inc Colfax, NC | $256,348,828 | $62,438,008 |
Aldersgate United Methodist Retirement Community Inc Charlotte, NC | $165,248,151 | $44,725,662 |
Everyage Newton, NC | $158,969,277 | $58,100,743 |
Lenbrook Square Foundation Inc Atlanta, GA | $291,448,667 | $46,078,205 |
Southminster Inc Charlotte, NC | $251,267,272 | $46,562,509 |