Bay Village Of Sarasota Inc
- Assets
- $64.3m
- Revenue
- $29.9m
- Investments
- $5.8m
- Employees
- 343
- Location
- Sarasota, FL
- Founding
- 12/1973
- Data as of
- 12/2022
- EIN
- 59-1453706
Organization Overview
Bay Village Of Sarasota Inc is located in Sarasota, FL. The organization was established in 1973. 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 12/2022, Bay Village Of Sarasota Inc employed 343 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bay Village 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 12/2022, Bay Village Of Sarasota Inc generated $29.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.0% each year. All expenses for the organization totaled $23.1m during the year ending 12/2022. While expenses have increased by 1.1% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
ESTABLISHED ON CHRISTIAN PRINCIPLES, BAY VILLAGE OF SARASOTA, INC. (BVSI) OFFERS A DYNAMIC, SECURE, AND COMPREHENSIVE RESIDENCY FOR OLDER ADULTS, PROVIDING MEANINGFUL COMMUNITY LIFE WITH CONTINUING CARE. BVSI IS A CHURCH-RELATED CONTINUING CARE RETIREMENT COMMUNITY COMMITTED TO PROVIDING THE HIGHEST QUALITY OF SERVICE TO RESIDENTS OF ALL FAITHS WITH NURSING AND HEALTH CARE, RECREATIONAL AND SPIRITUAL OPPORTUNITIES. BVSI PROVIDES SERVICES THAT ENHANCE THE QUALITY OF LIFE FOR RESIDENTS THROUGH INDEPENDENT RETIREMENT LIVING, ASSISTED LIVING, HOME HEALTH, SKILLED NURSING, AND SOCIAL SERVICES, WHILE CONTINUING TO HONOR EACH PERSON'S DIGNITY, RIGHTS, SELF-RESPECT AND INDEPENDENCE. BVSI IS COMMITTED TO A PROGRAM OF STEWARDSHIP WHICH RECOGNIZES ITS RESPONSIBILITY TO USE RESOURCES WELL. BVSI'S BENEVOLENCE PROGRAM ENSURES, TO THE EXTENT FEASIBLE, THAT RESIDENTS WHO HAVE EXHAUSTED THEIR FINANCIAL RESOURCES, THROUGH NO FAULT OF THEIR OWN, CAN REMAIN AS RESIDENTS EVEN IF THEY BECOME UNABLE TO PAY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATION OF A CONTINUING CARE RETIREMENT COMMUNITY, INCLUDING 282 INDEPENDENT LIVING APARTMENTS, 22 ASSISTED LIVING APARTMENTS, AND 95 HEALTH CENTER (SKILLED NURSING) BEDS IN SARASOTA, FLORIDA. IN 2022, BAY VILLAGE'S PROGRAMS SERVED APPROXIMATELY 362 RESIDENTS, INCLUDING 301 LIFE-CARE RESIDENTS AND 61 COMMUNITY RESIDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Bailiff Director | Trustee | 1 | $0 |
Carolyn Blum Director | Trustee | 1 | $0 |
Thomas Combs Director | Trustee | 1 | $0 |
Gerry Hailey Director | Trustee | 1 | $0 |
Kevin Hicks Director | Trustee | 1 | $0 |
Andy Olwert Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Me&s Building Contractor | 12/30/22 | $9,334,627 |
Functional Pathways Therapy | 12/30/22 | $541,569 |
Montgomery's Carpets Plus Inc Installation Contractor | 12/30/22 | $390,950 |
Trane Us Inc Maintanence Contractor | 12/30/22 | $324,328 |
Sfcs Inc Building Contractor | 12/30/22 | $251,684 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $7,000,000 |
| 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 | $7,000,000 |
| Total Program Service Revenue | $22,619,940 |
| Investment income | $219,880 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $128,817 |
| Net Gain/Loss on Asset Sales | -$61,749 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $29,906,888 |
| 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. | $808,578 |
| Compensation of current officers, directors, key employees. | $808,578 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $9,691,055 |
| Pension plan accruals and contributions | $224,455 |
| Other employee benefits | $1,317,720 |
| Payroll taxes | $762,347 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $17,059 |
| Fees for services: Accounting | $36,108 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $71,550 |
| Advertising and promotion | $203,784 |
| Office expenses | $54,926 |
| Information technology | $270,228 |
| Royalties | $0 |
| Occupancy | $1,484,210 |
| Travel | $527 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,033 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,419,885 |
| Insurance | $778,287 |
| All other expenses | $374,667 |
| Total functional expenses | $23,147,278 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $968,654 |
| Savings and temporary cash investments | $3,133,163 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,094,996 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $54,988 |
| Prepaid expenses and deferred charges | $375,266 |
| Net Land, buildings, and equipment | $46,400,542 |
| Investments—publicly traded securities | $6,414,441 |
| Investments—other securities | $5,786,377 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $101,017 |
| Total assets | $64,329,444 |
| Accounts payable and accrued expenses | $3,136,518 |
| Grants payable | $0 |
| Deferred revenue | $23,421,642 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $941,695 |
| Total liabilities | $27,499,855 |
| Net assets without donor restrictions | $36,829,589 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $64,329,444 |