Richland Place Inc
- Assets
- $31.5m
- Revenue
- $25.8m
- Investments
- $0.0
- Employees
- 345
- Location
- Murfreesboro, TN
- Founding
- 09/1989
- Data as of
- 12/2022
- EIN
- 58-1818877
Organization Overview
Richland Place Inc is located in Murfreesboro, TN. The organization was established in 1989. 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 12/2022, Richland Place Inc employed 345 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Richland Place 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 12/2022, Richland Place Inc generated $25.8m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.4% each year. All expenses for the organization totaled $25.2m during the year ending 12/2022. While expenses have increased by 1.6% per year over the past 8 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
CONTINUING CARE COMMUNITY
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATION OF A CONTINUING CARE RETIREMENT CENTER COMPRISED OF 137 RETIREMENT APARTMENTS AND A 131 BED LONG-TERM HEALTH CARE CENTER (107 NURSING BEDS AND 24 ASSISTED LIVING BEDS)
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Julie Stephens Rn | 40 | $126,979 | |
Marette Wood Director Of Rehab | 40 | $105,489 | |
Kathleen Gross Director Of Social | 40 | $97,274 | |
Patrick Jarvis Rn | 40 | $94,719 | |
Indianna Thompson Don | 40 | $93,971 | |
Lynn May Director | Trustee | 1 | $2,000 |
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 | $25,286,746 |
| Investment income | $528,947 |
| 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 | $25,815,693 |
| 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. | $19,050 |
| Compensation of current officers, directors, key employees. | $19,050 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $9,135,552 |
| Pension plan accruals and contributions | $47,377 |
| Other employee benefits | $801,473 |
| Payroll taxes | $684,105 |
| Fees for services: Management | $1,294,638 |
| Fees for services: Legal | $20,806 |
| Fees for services: Accounting | $70,299 |
| 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 | $0 |
| Information technology | $86,074 |
| Royalties | $0 |
| Occupancy | $1,664,558 |
| Travel | $2,335 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $47,155 |
| Interest | $201,382 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,754,872 |
| Insurance | $328,963 |
| All other expenses | $897,818 |
| Total functional expenses | $25,164,689 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $360 |
| Savings and temporary cash investments | $7,424,902 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,079,127 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $144,858 |
| Prepaid expenses and deferred charges | $51,584 |
| Net Land, buildings, and equipment | $16,250,787 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,519,986 |
| Total assets | $31,471,604 |
| Accounts payable and accrued expenses | $1,929,865 |
| Grants payable | $0 |
| Deferred revenue | $29,385,369 |
| Tax-exempt bond liabilities | $6,510,239 |
| 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 | $5,574,374 |
| Total liabilities | $43,399,847 |
| Net assets without donor restrictions | -$11,928,243 |
| 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 | $31,471,604 |