Golden Cross Senior Ministries Inc
- Assets
- $1.9m
- Revenue
- $415.6k
- Investments
- $0.0
- Employees
- 2
- Location
- Cordova, TN
- Founding
- 06/1990
- Data as of
- 12/2021
- EIN
- 58-1871974
Organization Overview
Golden Cross Senior Ministries Inc, operating under the name Golden Cross Senior Ministries, is located in Cordova, TN. The organization was established in 1990. According to its NTEE Classification (L22) the organization is classified as: Senior Citizens Housing & Retirement Communities, under the broad grouping of Housing & Shelter and related organizations. As of 12/2021, Golden Cross Senior Ministries employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Golden Cross Senior Ministries 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 12/2021, Golden Cross Senior Ministries generated $415.6k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.2% each year. All expenses for the organization totaled $297.2k during the year ending 12/2021. While expenses have increased by 2.7% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO ENHANCE THE QUALITY OF LIFE FOR ALL SENIORS SERVED BY WESLEY LIVING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO ENHANCE THE QUALITY OF LIFE FOR ALL SENIORS SERVED BY WESLEY LIVING. TO PROVIDE PERSONAL SUPPORT SERVICES TO SENIORS IN HUD SUBSIDIZED HOUSING WHO CAN'T AFFORD TO PURCHASE THESE SERVICES AND/OR CAN'T QUALIFY FOR MEDICAID PROVIDED SERVICES. THESE PERSONAL SUPPORT SERVICES PROVIDE THESE MOST "FRAIL" SENIORS PROLONGED INDEPENDENCE AND THE ABILITY TO AGE IN PLACE. TO PROVIDE ASSISTANCE TO HUD DEFINED HOMELESS SENIOR RESIDENTS MOVING INTO PERMANENT HUD AFFORDABLE HOUSING. PROVIDING HOUSEHOLD ITEMS, DAILY USE ITEMS, CLEANING SUPPLIES, BASIC FURNITURE AND NON-PERISHABLE FOOD TO ESTABLISH A NEW HOME.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kristi Owens Executive Di | 40 | $49,935 | |
David Kabakoff President | 25 | $34,692 | |
Forestene London Secretary | Officer | 1 | $0 |
Dale Sharp Vice Chairpe | Officer | 1 | $0 |
Joel Smith Treasurer | Officer | 1 | $0 |
Jeff Thomason Chairperson | Officer | 1 | $0 |
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 | $183,208 |
| Noncash contributions included in lines 1a–1f | $4,800 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $183,208 |
| Total Program Service Revenue | $147,122 |
| Investment income | $48,338 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $36,957 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $415,625 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $151,867 |
| 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 | $84,627 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $6,474 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $17,709 |
| Office expenses | $30,163 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $4,800 |
| Travel | $0 |
| 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 | $0 |
| Insurance | $1,587 |
| All other expenses | $0 |
| Total functional expenses | $297,227 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $362,250 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $1,521,187 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,883,437 |
| Accounts payable and accrued expenses | $1,654 |
| 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 | $0 |
| Total liabilities | $1,654 |
| Net assets without donor restrictions | $1,845,714 |
| Net assets with donor restrictions | $36,069 |
| 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 | $1,883,437 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Golden Cross Senior Ministries Inc has recieved totaling $63,298.
| Awarding Organization | Amount |
|---|---|
Community Foundation Of Greater Memphis Inc Memphis, TN PURPOSE: GENERAL OPERATIONAL SUPPORT | $47,192 |
Christian Community Foundation Of Memphis And The Mid-South Inc Memphis, TN PURPOSE: PROGRAM SUPPORT | $16,090 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $16 |
Endowment Analysis
| Beg. Balance | $1,373,623 |
| Earnings | $175,820 |
| Admin Expense | $43,258 |
| Net Contributions | $15,000 |
| Ending Balance | $1,521,187 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Arbor Acres United Methodist Retirement Community Inc Winstonsalem, NC | $155,220,604 | $40,394,713 |
Chapel Hill Residential Retirement Center Inc Chapel Hill, NC | $120,640,930 | $31,949,437 |
Carolina Village Inc Hendersonville, NC | $124,169,436 | $34,185,742 |
Galloway Ridge Inc Pittsboro, NC | $130,866,786 | $36,150,184 |
Kenton Housing Inc Latonia, KY | $68,380,829 | $31,745,821 |
Redstone Military Retirement Residence Association Huntsville, AL | $75,839,783 | $19,548,176 |
Virginia Lutheran Homes Inc Roanoke, VA | $83,707,371 | $28,580,430 |
Masonic Home Independent Living Ii Inc Masonic Home, KY | $142,516,912 | $16,410,935 |
The Glebe Inc Glen Allen, VA | $79,347,451 | $20,057,701 |
Cypress Of Charlotte Club Inc Charlotte, NC | $4,602,507 | $19,033,502 |
Lavender Mountain Senior Living Inc Mount Berry, GA | $141,195,331 | $5,176,789 |
Lewis Memorial Christian Village St Louis, MO | $48,381,888 | $18,539,239 |