Penney Retirement Community Inc

Organization Overview

Penney Retirement Community Inc is located in Penney Farms, FL. The organization was established in 1957. 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 06/2021, Penney Retirement Community Inc employed 299 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Penney Retirement Community 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 06/2021, Penney Retirement Community Inc generated $17.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.6% each year. All expenses for the organization totaled $16.8m during the year ending 06/2021. While expenses have increased by 4.6% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

TO SERVE SENIORS WHO WISH TO RETIRE IN AN INCLUSIVE CHRISTIAN COMMUNITY.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE ORGANIZATION PROVIDES HOUSING, HEALTH CARE AND OTHER RELATED SERVICES THROUGH THE OPERATION OF A RETIREMENT COMMUNITY. THE COMMUNITY INCLUDES 301 APARTMENTS, COTTAGES AND HOMES, A 20-BED MEMORY CARE CENTER, 55 INDEPENDENT LIVING UNITS OFFERING ASSISTIVE SERVICES AND A LICENSED SKILLED NURSING CENTER WITH A CAPACITY OF 50 RESIDENTS. THE COMMUNITY ALSO INCLUDES RECREATIONAL AMENITIES, INCLUDING A NINE-HOLE GOLF COURSE, INDOOR SWIMMING POOL, FITNESS CENTER, ART STUDIO, CRAFTS FACILITIES, LIBRARIES AND DINING FACILITIES.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Stevenson Construction Co Inc
Construction Services
$1,503,590
Functional Pathways
Patient Therapy Services
$890,250
James Dean Masonry Inc
Construction Services
$405,017
Chaney's Home Improvement
Construction Services
$291,850
Home Medic Remodeling Llc
Construction Services
$156,269
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Financial Statements

Statement of Revenue
Total Revenue from Contributions, Gifts, Grants & Similar$734,079
Investment income $278,007
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $868,354
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $17,793,426

Grants Awarded

Over the last fiscal year, Penney Retirement Community Inc has awarded $146,511 in support to 2 organizations.

Grant RecipientAmount

TOWN OF PENNEY FARMS

PURPOSE: PICKLEBALL COURT CONSTRUCTION

$122,511

PENNEY MEMORIAL CHURCH

Org PageRecipient Profile

Penney Farms, FL

PURPOSE: SUPPORT FOR FULL-TIME MINISTER

$24,000
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 2 grants that Penney Retirement Community Inc has recieved totaling $8,903.

Awarding OrganizationAmount
Celia S Pratt Tr

Dallas, TX

PURPOSE: UNRESTRICTED GENERAL

$8,889
Amazonsmile Foundation

Seattle, WA

PURPOSE: GENERAL SUPPORT

$14
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$1,699,596
Earnings$214,515
Ending Balance$1,914,111

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