The Moorings Incorporated
- Assets
- $1.1b
- Revenue
- $132.9m
- Investments
- $0.0
- Employees
- 686
- Location
- Naples, FL
- Founding
- 10/1978
- Data as of
- 12/2023
- EIN
- 59-1834357
Organization Overview
The Moorings Incorporated is located in Naples, FL. The organization was established in 1978. 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 12/2023, Moorings Incorporated employed 686 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Moorings Incorporated 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, Moorings Incorporated generated $132.9m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 8.5% each year. All expenses for the organization totaled $134.7m during the year ending 12/2023. While expenses have increased by 4.9% 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.
Since 2015, Moorings Incorporated has awarded 74 individual grants totaling $46,701,862. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE SIMPLY THE BEST FACILITIES, SERVICES AND PROGRAMS FOR SUCCESSFUL AGING WITH PROFESSIONAL AND COMPASSIONATE CARE TO EACH PERSON WE SERVE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MOORINGS, INCORPORATED D/B/A MOORINGS PARK IS A LIFE CARE RETIREMENT COMMUNITY DESIGNED TO ACCOMMODATE PERSONS 62 YEARS OF AGE OR OLDER. IT CONSISTS OF 659 INDEPENDENT LIVING RESIDENCES, 107 ASSISTED LIVING SUITES, AND A 106-BED SKILLED NURSING FACILITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Daniel Lavender President/chief Executive Officer | OfficerTrustee | 2 | $0 |
Laurie Phillips Chair | OfficerTrustee | 2 | $0 |
Laura Holquist Secretary/treasurer | OfficerTrustee | 2 | $0 |
Mitchell Cordova Director | Trustee | 2 | $0 |
Jeffrey Fridkin Director (as Of 7.01.23) | Trustee | 2 | $0 |
Michael Hole Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Unidine Corporation Dining Services | 12/30/23 | $18,768,938 |
Cotter Construction Company General Construction Services | 12/30/23 | $12,186,206 |
Crawford Landscaping Llc Landscaping Services | 12/30/23 | $1,601,123 |
Grey Oaks Country Club Country Club Dues | 12/30/23 | $1,380,119 |
Hotwire Communications Telecommunications Services | 12/30/23 | $1,325,129 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $327,674 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $88,807 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $416,481 |
| Total Program Service Revenue | $123,385,337 |
| Investment income | $8,566,067 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $80,459 |
| Net Gain/Loss on Asset Sales | -$110,318 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $132,853,777 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,867,300 |
| 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 | $23,543,837 |
| Pension plan accruals and contributions | $880,877 |
| Other employee benefits | $3,007,744 |
| Payroll taxes | $1,728,215 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $24,598 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $828,708 |
| Fees for services: Other | $14,983,428 |
| Advertising and promotion | $483,051 |
| Office expenses | $53,636 |
| Information technology | $855,432 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $51,597 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $49,329 |
| Interest | $9,915,951 |
| Payments to affiliates | $10,089,725 |
| Depreciation, depletion, and amortization | $36,505,764 |
| Insurance | $4,578,479 |
| All other expenses | $7,055,093 |
| Total functional expenses | $134,692,234 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $30,678,847 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,957,469 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $535,399 |
| Prepaid expenses and deferred charges | $926,066 |
| Net Land, buildings, and equipment | $731,802,147 |
| Investments—publicly traded securities | $301,945,581 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,838,323 |
| Total assets | $1,075,683,832 |
| Accounts payable and accrued expenses | $11,381,943 |
| Grants payable | $0 |
| Deferred revenue | $712,860,403 |
| Tax-exempt bond liabilities | $230,271,036 |
| 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 | $67,990,852 |
| Total liabilities | $1,022,504,234 |
| Net assets without donor restrictions | $52,721,314 |
| Net assets with donor restrictions | $458,284 |
| 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 | $1,075,683,832 |
Grants Awarded
Over the last fiscal year, The Moorings Incorporated has awarded $2,851,500 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
AMERICAN HEART ASSOCIATION INC PURPOSE: REDUCE DISABILITY AND DEATHS CAUSED BY CARDIOVASCULAR DISEASE AND STROKE | $15,000 |
DAVID LAWRENCE MENTAL HEALTH CENTER INC PURPOSE: SUPPORT BEHAVIORAL HEALTH SOLUTIONS FOR PREVENTION AND TREATMENT SERVICES | $10,000 |
GREATER NAPLES CHAMBER OF COMMERCE INC PURPOSE: ANNUAL MEETING SPONSORSHIP & PARTNERSHIP FOR COLLIERS FUTURE ECONOMY / LEGACY LEADERS | $17,500 |
GULFSHORE PLAYHOUSE INC PURPOSE: SUPPORT LOCAL THEATRE AND EDUCATION | $20,000 |
HABITAT FOR HUMANITY OF COLLIER COUNTY INC PURPOSE: ELIMINATE SUBSTANDARD HOUSING THROUGH CONSTRUCTING, REHABILITATING AND PRESERVING HOMES | $15,000 |
CHILDS PATH INC PURPOSE: PROVIDE ACCESS TO SAFE, AFFORDABLE, HIGH-QUALITY, ACCREDITED EARLY CHILDHOOD EDUCATION/CHILDCARE TO FAMILIES IN NAPLES/COLLIER COUNTY | $10,000 |