Presbyterian Retirement Communities Inc
- Assets
- $555.2m
- Revenue
- $153.2m
- Investments
- $5.6m
- Employees
- 1,961
- Location
- Orlando, FL
- Founding
- 07/1963
- Data as of
- 03/2023
- EIN
- 59-0931267
Organization Overview
Presbyterian Retirement Communities Inc is located in Orlando, FL. The organization was established in 1963. 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 03/2023, Presbyterian Retirement Communities Inc employed 1,961 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Presbyterian Retirement Communities 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 03/2023, Presbyterian Retirement Communities Inc generated $153.2m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.1% each year. All expenses for the organization totaled $168.2m during the year ending 03/2023. While expenses have increased by 5.0% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PRESBYTERIAN RETIREMENT COMMUNITIES, INC. IS A CHURCH RELATED, NON-PROFIT COMMUNITY SERVICE ORGANIZATION DEDICATED AND COMMITTED TO PROVIDING SERVICES FOR OLDER ADULTS AND PERSONS WITH SPECIAL NEEDS BY CREATING AND PRESERVING EXCELLENT RESIDENTIAL AND HEALTH CARE COMMUNITIES PROMOTING WELLNESS AND ENCOURAGING ACTIVE AND HEALTHY LIFESTYLE CHOICES. PRESBYTERIAN RETIREMENT COMMUNITIES, INC. BELIEVES IN AND IS COMMITTED TO HONORING EACH PERSON'S DIGNITY, RIGHTS, SELF-RESPECT AND INDEPENDENCE. PRESBYTERIAN RETIREMENT COMMUNITIES, INC. IS COMMITTED TO A PROGRAM OF STEWARDSHIP THAT RECOGNIZES ITS RESPONSIBILITY TO USE ITS RESOURCES WELL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HOMES FOR THE AGED THAT PROVIDE HOUSING, DINING, HEALTH CARE AND OTHER SERVICES FOR OLDER ADULTS AND PERSONS WITH SPECIAL NEEDS. 2,255 CLIENTS WERE SERVED.
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 |
|---|---|---|---|
John Hillenmeyer Chairman | OfficerTrustee | $0 | |
Terence Rogers Ceo/presiden | Officer | $0 | |
Henry T Keith Cfo/treasur/ | Officer | $0 | |
Garry Hennis Coo/executiv | Officer | $0 | |
Megan Faubel Secretary | Officer | $0 | |
Stephen Dye Director | Trustee | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Westminster Services Inc Management Serv | 3/30/23 | $7,835,484 |
Westminster Senior Care Pharmacy Senior Care | 3/30/23 | $5,459,176 |
Farrar Construction Services Inc Construction | 3/30/23 | $2,475,625 |
Westcott Construction Inc Construction | 3/30/23 | $2,028,700 |
A C Ernst Building Corporation Inc Contractor | 3/30/23 | $1,909,048 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,743,562 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,357,719 |
| Noncash contributions included in lines 1a–1f | $4,810 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,101,281 |
| Total Program Service Revenue | $147,784,349 |
| Investment income | $535,582 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$231,726 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $153,189,486 |
| 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 | $62,431,602 |
| Pension plan accruals and contributions | $1,075,955 |
| Other employee benefits | $5,420,631 |
| Payroll taxes | $4,326,501 |
| Fees for services: Management | $7,835,484 |
| Fees for services: Legal | $250,838 |
| Fees for services: Accounting | $741,590 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,905,159 |
| Office expenses | $623,494 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $6,222,666 |
| Travel | $45,185 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $100,072 |
| Interest | $10,473,092 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $21,928,809 |
| Insurance | $4,437,152 |
| All other expenses | $15,489,703 |
| Total functional expenses | $168,186,348 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,900 |
| Savings and temporary cash investments | $11,981,845 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $8,745,232 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $16,440,589 |
| Inventories for sale or use | $390,040 |
| Prepaid expenses and deferred charges | $692,945 |
| Net Land, buildings, and equipment | $325,781,956 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $5,637,179 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $185,524,582 |
| Total assets | $555,198,268 |
| Accounts payable and accrued expenses | $15,111,571 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $207,448,105 |
| 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 | $220,156,565 |
| Total liabilities | $442,716,241 |
| Net assets without donor restrictions | $60,298,828 |
| Net assets with donor restrictions | $52,183,199 |
| 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 | $555,198,268 |