Provident Resources Group Inc
- Assets
- $2.4b
- Revenue
- $186.7m
- Investments
- $0.0
- Employees
- 130
- Location
- Baton Rouge, LA
- Founding
- 06/2000
- Data as of
- 12/2020
- EIN
- 58-2492101
Organization Overview
Provident Resources Group Inc, operating under the name Provident Group, is located in Baton Rouge, LA. The organization was established in 2000. According to its NTEE Classification (E91) the organization is classified as: Nursing Facilities, under the broad grouping of Health Care and related organizations. As of 12/2021, Provident Group employed 130 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Provident Group 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 12/2020, Provident Group generated $186.7m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 9.8% each year. All expenses for the organization totaled $262.0m during the year ending 12/2020. While expenses have increased by 13.7% 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDENT RESOURCES GROUP, INC. PROVIDES FOR THE NEEDS OF THE ELDERLY, PROMOTES HEALTHY COMMUNITIES, SERVES THE POOR & DISTRESSED, PROMOTES EDUCATION, AND LESSENS THE BURDEN OF GOVERNMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE EDUCATION RESOURCES DIVISION PROMOTES AND ADVANCES EDUCATION THROUGH THE DEVELOPMENT, CONSTRUCTION, OPERATION, FINANCING AND MANAGEMENT OF FACILITIES OF VARIOUS TYPES, INCLUDING STUDENT HOUSING, HEALTH AND WELLNESS, AS WELL AS ACADEMIC AND ADMINISTRATIVE SPACE FOR THE BENEFIT OF COLLEGES AND UNIVERSITIES THROUGHOUT THE COUNTRY. AS OF DECEMBER 31, 2021, THE ORGANIZATION OWNED AND OPERATED RESIDENTIAL FACILITIES PROVIDING MORE THAN 16,545 BEDS OF SAFE, CONVIENIENT AND AFFORDABLE STUDENT HOUSING FOR STUDENTS, FACULTY AND STAFF OF THE INSTITUTIONS WE SERVE.
THE SENIOR LIVING RESOURCES DIVISION OFFERS ACTIVITIES, SERVICES AND PROGRAMS DESIGNED TO MEET THE SPECIAL NEEDS OF THE ELDERLY, INCLUDING HOUSING AND HEALTH CARE, WITHIN AN ENVIRONMENT THAT PROMOTES THE DIGNITY AND INDEPENDENCE OF THE RESIDENTS. OUR FACILITIES OFFER THE FINEST AMENITIES ALONG WITH WELLNESS PROGRAMMING, DAILY SOCIAL ACTIVITIES, 24/7 SUPPORT AND CARE, AND EDUCATIONAL OPPORTUNITIES TO ENSURE RESIDENTS ENJOY OPTIMAL QUALITY OF LIFE AND PEACE OF MIND.
THE CITISTATE RESOURCES DIVISION TO PURSUE PROJECTS DESIGNED TO LESSEN THE BURDENS OF GOVERNMENT. WE ARE COMMITTED TO EASING THE FINANCIAL AND BUDGETARY CONSTRAINTS OF STATE AND LOCAL GOVERNMENTS THROUGH VARIOUS MEANS, INCLUDING THE DEVELOPMENT, FINANCING, CONSTRUCTION, MANAGEMENT, AND OPERATION OF PUBLIC FACILITIES, GOVERNMENT BUILDINGS, AND VARIOUS SYSTEMS OF PUBLIC INFRASTRUCTURE ESSENTIAL TO DELIVERING GOVERNMENT SERVICES AND SUPPORTING PRIVATE SECTOR ECONOMIC ACTIVITY.
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 |
|---|---|---|---|
Name Not Listed Director | Trustee | 1 | $24,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Capstone On-campus Management Llc Management Company | 12/30/21 | $767,488 |
Crowe Llp Audit/tax Services | 12/30/21 | $660,007 |
Cardinal Group Management Management Company | 12/30/21 | $622,714 |
Rise Residential Ii Llc Management Company | 12/30/21 | $433,563 |
Jax Of Trades Llc Maintenance Services | 12/30/21 | $405,100 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,790,293 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $2,069,700 |
| 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 | $186,723,380 |
| 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. | $2,697,094 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $28,472,778 |
| Pension plan accruals and contributions | $203,559 |
| Other employee benefits | $3,760,731 |
| Payroll taxes | $2,340,040 |
| Fees for services: Management | $8,667,504 |
| Fees for services: Legal | $191,196 |
| Fees for services: Accounting | $908,342 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $669,727 |
| Advertising and promotion | $4,542,345 |
| Office expenses | $4,024,190 |
| Information technology | $1,213,285 |
| Royalties | $0 |
| Occupancy | $26,143,041 |
| Travel | $242,625 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,793 |
| Interest | $106,397,578 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $55,429,202 |
| Insurance | $2,922,619 |
| All other expenses | $0 |
| Total functional expenses | $262,003,463 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $19,602,499 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,997,930 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $8,159,086 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $4,048,240 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $967,746,962 |
| Total assets | $2,434,706,219 |
| Accounts payable and accrued expenses | $78,078,814 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $2,419,312,521 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $126,771,359 |
| Unsecured mortgages and notes payable | $1,273,128 |
| Other liabilities | $143,625,928 |
| Total liabilities | $2,769,061,750 |
| 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 | -$334,355,531 |
Grants Awarded
Over the last fiscal year, Provident Resources Group Inc has awarded $119,171 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Huntington Beach, CA PURPOSE: Program Support | $94,524 |
Aberdeen, MD PURPOSE: Program Support | $24,647 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Provident Resources Group Inc has recieved totaling $633,333.
| Awarding Organization | Amount |
|---|---|
Community Foundation Of Southwest Louisiana Lake Charles, LA PURPOSE: TO SUPPORT THE PORT WONDER PROJECT. | $333,333 |
Southwest Louisiana Hospital Association Inc Lake Charles, LA PURPOSE: SPONSORSHIP | $200,000 |
Southwest Louisiana Hospital Association Foundation Inc Lake Charles, LA PURPOSE: CHILDREN'S MUSEUM PLEDGE | $100,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Provident Resources Group Inc Baton Rouge, LA | $2,434,706,219 | $186,723,380 |
Commcare Corporation Mandeville, LA | $182,016,195 | $101,847,180 |
Arkansas Elder Outreach Of Little Rock Inc Baton Rouge, LA | $55,461,599 | $88,695,482 |
Georgia Protoncare Center Baton Rouge, LA | $299,146,657 | $36,026,714 |
Notre Dame Health System New Orleans, LA | $52,038,508 | $55,980,396 |
C C Young Memorial Home Dallas, TX | $190,839,097 | $39,956,060 |
Wesleyan Homes Inc Georgetown, TX | $102,254,340 | $32,412,628 |
Westminster Manor Austin, TX | $287,234,202 | $35,378,162 |
American Religious Town Hall Meeting Inc Dallas, TX | $5,847,203 | $26,719,151 |
Grace Presbyterian Ministries Inc Dallas, TX | $46,881,985 | $24,429,921 |
Ollie Steele Burden Manor Inc Baton Rouge, LA | $15,175,738 | $20,028,612 |
Seven Acres Jewish Senior Care Services Inc Houston, TX | $33,296,281 | $17,291,093 |