Plymouth Harbor Inc
- Assets
- $150.5m
- Revenue
- $43.0m
- Investments
- $46.9m
- Employees
- 477
- Location
- Sarasota, FL
- Founding
- 08/1964
- Data as of
- 12/2023
- EIN
- 59-1031820
Organization Overview
Plymouth Harbor Inc is located in Sarasota, FL. The organization was established in 1964. 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 12/2023, Plymouth Harbor Inc employed 477 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Plymouth Harbor 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 12/2023, Plymouth Harbor Inc generated $43.0m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 6.4% each year. All expenses for the organization totaled $40.0m during the year ending 12/2023. While expenses have increased by 6.4% per year over the past 9 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
OPERATION OF A RETIREMENT COMMUNITY COMMITTED TO PROVIDING A POSITIVE AGING EXPERIENCE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PLYMOUTH HARBOR, INC. CARES FOR SENIOR ADULTS THROUGH THE OPERATION OF A CONTINUING CARE RETIREMENT COMMUNITY CONSISTING OF 215 INDEPENDENT APARTMENT UNITS, 60 ASSISTED LIVING UNITS, A LICENSED HOME HEALTH AGENCY, AND A 56-BED SKILLED NURSING CENTER. ACROSS ALL PROGRAMS, THERE WERE 94,886 RESIDENT DAYS IN THE CURRENT YEAR.
THE ORGANIZATION PROVIDES SUPPORT FOR OPERATING AND MAINTAINING A LIFE CARE FACILITIY AIDING NEEDY RESIDENTS. THE PROGRAM ADDRESSES THE NEEDS OF THOSE RESIDENTS WHO REQUIRE FINANCIAL ASSISTANCE TO MAINTAIN THEIR RESIDENCY AT PLYMOUTH HARBOR. IN THE CURRENT YEAR, $284,874 OF FINANCIAL ASSISTANCE WAS PROVIDED AS A COMPONENT OF FULFILLING THE ORGANIZATION'S CHARITABLE MISSION.
THE PLYMOUTH HARBOR FOUNDATION ENSURES THE APPROPRIATE STEWARDSHIP OF CONTRIBUTED FUNDS, DEVELOPS FUNDRAISING STRATEGIES THAT SUPPORT THE MOST POSITIVE AGING EXPERIENCE POSSIBLE, AND PROVIDES FUNDING FOR INNOVATIVE PROGRAMS AND SERVICES IN THE REGION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeff Charlotte Chairman Of The Board | OfficerTrustee | 1 | $0 |
Rebecca Sachs Vice Chair | OfficerTrustee | 1 | $0 |
Eric Bledsoe Treasurer | OfficerTrustee | 1 | $0 |
Lee Delieto Jr Secretary | OfficerTrustee | 1 | $0 |
Warren Bacon Trustee | Trustee | 1 | $0 |
Lee Delieto Sr Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Michael J Looney Inc Construction Services | 12/30/23 | $571,140 |
Workers To Go Cleaning Services | 12/30/23 | $558,920 |
Select Rehabilitation Llc Therapy Services | 12/30/23 | $544,407 |
Valcourt Exterior Building Services Of F Exterior Building Renovation | 12/30/23 | $485,081 |
Rlps Architects Llp Architect Fees | 12/30/23 | $416,321 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,982,668 |
| All other contributions, gifts, grants, and similar amounts not included above | $879,302 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,861,970 |
| Total Program Service Revenue | $39,454,049 |
| Investment income | $1,246,454 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,058,902 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $43,007,740 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $367,072 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,531,951 |
| Compensation of current officers, directors, key employees. | $736,070 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $14,115,484 |
| Pension plan accruals and contributions | $244,860 |
| Other employee benefits | $2,012,108 |
| Payroll taxes | $1,198,091 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $123,062 |
| Fees for services: Accounting | $57,430 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $55,234 |
| Fees for services: Other | $3,248,245 |
| Advertising and promotion | $123,880 |
| Office expenses | $514,924 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $3,636,511 |
| Travel | $89,975 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $897,323 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,192,156 |
| Insurance | $357,482 |
| All other expenses | $312,091 |
| Total functional expenses | $40,019,263 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,726,937 |
| Savings and temporary cash investments | $90,603 |
| Pledges and grants receivable | $340,526 |
| Accounts receivable, net | $1,707,113 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $218,517 |
| Prepaid expenses and deferred charges | $1,382,903 |
| Net Land, buildings, and equipment | $94,998,052 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $46,872,094 |
| Investments—program-related | $0 |
| Intangible assets | $226,750 |
| Other assets | $949,622 |
| Total assets | $150,513,117 |
| Accounts payable and accrued expenses | $4,929,189 |
| Grants payable | $0 |
| Deferred revenue | $50,284,601 |
| Tax-exempt bond liabilities | $19,680,038 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $5,734,070 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $22,407,774 |
| Total liabilities | $103,035,672 |
| Net assets without donor restrictions | $43,079,294 |
| Net assets with donor restrictions | $4,398,151 |
| 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 | $150,513,117 |