Pines Of Sarasota Inc
- Assets
- $63.8m
- Revenue
- $174.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Sarasota, FL
- Founding
- 12/1949
- Data as of
- 12/2021
- EIN
- 59-0700567
Organization Overview
Pines Of Sarasota Inc is located in Sarasota, FL. The organization was established in 1949. 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. Pines Of Sarasota 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 12/2021, Pines Of Sarasota Inc generated $174.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (36.0%) each year. All expenses for the organization totaled $1.8m during the year ending 12/2021. 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
THE PURPOSE OF THE ORGANIZATION IS TO OWN AND MAINTAIN A 39 UNIT ASSISTED LIVING FACILITY PRIMARILY FOR AGED AND FINANCIALLY NEEDY RESIDENTS OF SARASOTA COUNTY
Describe the Organization's Program Activity:
Part 3 - Line 4a
OWN AND MAINTAIN A 39 UNIT ASSISTED LIVING FACILITY PRIMARILY FOR AGED AND FINANCIALLY NEEDY RESIDENTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ken Abraham Chair | OfficerTrustee | 1 | $0 |
K Judson Boedecker Director | Trustee | 1 | $0 |
Marla Doss Director | Trustee | 1 | $0 |
John Harshman Director | Trustee | 1 | $0 |
Jeffrey L Schmidt Director | Trustee | 1 | $0 |
John Schaub Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Us Foodservice Inc Food | 7/30/15 | $826,445 |
Willis A Smith Construction Inc Construction | 7/30/15 | $603,139 |
Mckesson Medical-surgical Medical Supplies | 7/30/15 | $272,445 |
Mediserv Pharmacy Pharmacy | 7/30/15 | $197,271 |
Modular Doc Solutions Llc Copier Solutions | 7/30/15 | $114,966 |
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 | $174,842 |
| Investment income | $0 |
| 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 | $174,842 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| 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 | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $229,042 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,529,689 |
| Insurance | $0 |
| All other expenses | $1,344 |
| Total functional expenses | $1,760,075 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $131,289 |
| 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 | $15,422,553 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $48,198,174 |
| Total assets | $63,752,016 |
| Accounts payable and accrued expenses | $1,777,401 |
| 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 | $5,749,043 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $33,578,146 |
| Total liabilities | $41,104,590 |
| Net assets without donor restrictions | $14,262,048 |
| Net assets with donor restrictions | $8,385,378 |
| 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 | $63,752,016 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that Pines Of Sarasota Inc has recieved totaling $136,724.
| Awarding Organization | Amount |
|---|---|
Womans Exchange Inc Of Sarasota Sarasota, FL | | $98,224 |
Harold C & Jacqueline F Bladel Foundation Declaration Of Chicago, FL PURPOSE: GENERAL FUND | $30,000 |
Junior League Of Sarasota Inc Sarasota, FL PURPOSE: THIS GRANT WILL EQUIP A PRE-K CLASSROOM WITH THE NECESSARY TOOLS AND MATERIALS FOR CHILDREN. | $5,000 |
Norman E Peterson And Diana Lager Peterson Educational Fund Inc Sarasota, FL PURPOSE: SUPPORT | $2,000 |
Martin D And Barbara H Rich Family Charitable Foundation Davenport, IA PURPOSE: OPERATING NEEDS | $1,000 |
Church Mutual Insurance Company Foundation Inc Merrill, WI PURPOSE: PINES SENIOR CARE FACILITY, A NOT-FOR-PROFIT SENIOR CARE FACILITY. | $500 |
Endowment Analysis
| Beg. Balance | $28,248,299 |
| Earnings | -$282 |
| Net Contributions | $761,263 |
| Grants | $20,573,901 |
| Ending Balance | $8,435,379 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Sarasota Manatee Jewish Housing Council Inc Sarasota, FL | $25,733,958 | $18,693,648 |
Carpenters Home Estates Inc Lakeland, FL | $64,229,461 | $19,045,367 |
Menorah Manor Inc St Petersburg, FL | $10,980,323 | $18,960,308 |
Central Georgia Senior Health Inc Macon, GA | $135,213,897 | $22,356,882 |
Penney Retirement Community Inc Penney Farms, FL | $61,971,655 | $17,793,426 |
Lutheran Haven Oviedo, FL | $50,707,135 | $14,795,966 |
Florida Presbyterian Homes Inc Lakeland, FL | $60,980,180 | $17,797,628 |
Westminster Shores Inc Orlando, FL | $96,015,943 | $14,266,347 |
Christian City Inc Union City, GA | $27,522,237 | $12,222,387 |
South Georgia Health Alliance Inc Valdosta, GA | $7,119,537 | $11,380,468 |
Ponce Plaza Inc N Miami Beach, FL | $19,791,935 | $11,830,534 |
Canterbury Towers Inc Tampa, FL | $26,732,225 | $9,784,634 |