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.
Form
990
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.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Teresa D Scott President/ceo | Officer | 40 | $192,052 |
Beth A Mcanally Chief Financial Officer (beg. 2/2020) | Officer | 40 | $96,121 |
William D Fish Former CFO (ending 1/2020) | 40 | $71,057 | |
Alison E Hickman First Vice Chair | OfficerTrustee | 2 | $0 |
James Jb Renniger Second Vice Chair | OfficerTrustee | 2 | $0 |
Bert Van Royal Chairman | OfficerTrustee | 2 | $0 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Stevenson Construction Co Inc Construction Services | 6/29/21 | $1,503,590 |
Functional Pathways Patient Therapy Services | 6/29/21 | $890,250 |
James Dean Masonry Inc Construction Services | 6/29/21 | $405,017 |
Chaney's Home Improvement Construction Services | 6/29/21 | $291,850 |
Home Medic Remodeling Llc Construction Services | 6/29/21 | $156,269 |
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 |
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. | $257,818 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $6,184,546 |
Pension plan accruals and contributions | $233,200 |
Other employee benefits | $775,419 |
Payroll taxes | $487,286 |
Fees for services: Management | $0 |
Fees for services: Legal | $2,010 |
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 | $1,333,074 |
Advertising and promotion | $31,498 |
Office expenses | $93,792 |
Information technology | $62,926 |
Royalties | $0 |
Occupancy | $2,292,777 |
Travel | $111 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $408,334 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $3,024,591 |
Insurance | $654,064 |
All other expenses | $0 |
Total functional expenses | $16,809,244 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $2,311,963 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $388,063 |
Accounts receivable, net | $810,643 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $0 |
Inventories for sale or use | $139,942 |
Prepaid expenses and deferred charges | $37,343 |
Investments—publicly traded securities | $0 |
Investments—other securities | $14,291,961 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $693,096 |
Total assets | $61,971,655 |
Accounts payable and accrued expenses | $1,244,299 |
Grants payable | $0 |
Deferred revenue | $28,946,796 |
Tax-exempt bond liabilities | $9,579,203 |
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 | $2,573,945 |
Total liabilities | $42,344,243 |
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 | $19,627,412 |
Over the last fiscal year, Penney Retirement Community Inc has awarded $146,511 in support to 2 organizations.
Grant Recipient | Amount |
---|---|
TOWN OF PENNEY FARMS PURPOSE: PICKLEBALL COURT CONSTRUCTION | $122,511 |
Penney Farms, FL PURPOSE: SUPPORT FOR FULL-TIME MINISTER | $24,000 |
Over the last fiscal year, we have identified 2 grants that Penney Retirement Community Inc has recieved totaling $8,903.
Awarding Organization | Amount |
---|---|
Celia S Pratt Tr Dallas, TX PURPOSE: UNRESTRICTED GENERAL | $8,889 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $14 |
Beg. Balance | $1,699,596 |
Earnings | $214,515 |
Ending Balance | $1,914,111 |
Organization Name | Assets | Revenue |
---|---|---|
Methodist Home For The Aging Birmingham, AL | $118,213,803 | $51,510,138 |
Lenbrook Square Foundation Inc Atlanta, GA | $291,448,667 | $46,078,205 |
Cypress Cove At Healthpark Florida Inc Fort Myers, FL | $165,133,632 | $33,291,550 |
Glenridge On Palmer Ranch Inc Jacksonville, FL | $194,012,729 | $37,245,180 |
John Knox Village Of Central Florida Inc Orange City, FL | $183,731,535 | $56,317,098 |
Oak Hammock At The University Of Florida Inc Gainesville, FL | $123,521,355 | $38,928,213 |
Gulf Care Inc Cape Coral, FL | $96,060,136 | $33,635,859 |
Senior Care Group Inc Tampa, FL | $31,110,581 | $32,171,523 |
Magnolia Manor Inc Americus, GA | $105,196,135 | $36,011,404 |
Waterman Communities Inc Mount Dora, FL | $148,398,473 | $31,351,619 |
East Ridge Retirement Village Inc Gainesville, FL | $85,059,682 | $27,977,471 |
North Florida Retirement Village Inc Gainesville, FL | $89,998,820 | $32,740,071 |