Life Care Ponte Vedra Inc
- Assets
- $256.5m
- Revenue
- $47.2m
- Investments
- $43.2m
- Employees
- 541
- Location
- Ponte Vedra Beach, FL
- Founding
- 11/1986
- Data as of
- 12/2023
- EIN
- 59-2555812
Organization Overview
Life Care Ponte Vedra Inc, operating under the name Vicar's Landing, is located in Ponte Vedra Beach, FL. The organization was established in 1986. 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, Vicar's Landing employed 541 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Vicar's Landing 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, Vicar's Landing generated $47.2m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 9.5% each year. All expenses for the organization totaled $42.8m during the year ending 12/2023. While expenses have increased by 8.6% 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 CONTINUING CARE RETIREMENT COMMUNITY TO PROVIDE HOUSING AND SERVICES TO RESIDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LIFE CARE PONTE VEDRA, INC. ("LCPV") IS A NOT-FOR-PROFIT CORPORATION, WHICH PROVIDES HOUSING, HEALTHCARE, AND OTHER RELATED SERVICES TO SENIOR ADULTS THROUGH THE OPERATION OF TWO RETIREMENT COMMUNITIES KNOWN AS VICAR'S LANDING LOCATED PONTE VEDRA BEACH, FLORIDA. THE VICAR'S LANDING AT SAWGRASS RETIREMENT COMMUNITY ("SAWGRASS") OPENED IN 1987 AND CONSISTS OF 227 INDEPENDENT RESIDENTIAL UNITS, 38 ASSISTED LIVING UNITS, AND A 60-BED SKILLED NURSING CENTER. SEE ADDITIONAL INFORMATION ON SCHEDULE O.THE VICAR'S LANDING AT OAK BRIDGE RETIREMENT COMMUNITY ("OAK BRIDGE") OPENED IN AUGUST 2022 AND WHEN PHASE I OF THE EXPANSION IS COMPLETED WILL INCLUDE 109 INDEPENDENT LIVING UNITS. PHASE II OF THE OAK BRIDGE CAMPUS HAS STARTED AND INCLUDES AN ADDITIONAL 33 INDEPENDENT UNITS ANTICIPATED TO BE COMPLETED IN THE SPRING OF 2024, AND REMAINING PHASES WILL INCLUDE INDEPENDENT LIVING UNITS AND ASSISTED LIVING/MEMORY CARE UNITS AND RELATED COMMON AREAS ON AN APPROXIMATELY 42-ACRE PARCEL OF LAND LOCATED LESS THAN ONE MILE FROM THE SAWGRASS CAMPUS.THE SOLE CORPORATE MEMBER OF LCPV IS LIFE CARE PASTORAL SERVICES, INC. (LCPS). LCPS IS ALSO THE SOLE CORPORATE MEMBER OF LCPS MANAGEMENT, INC. LCPS MANAGEMENT PROVIDES MANAGEMENT, OPERATIONAL, AND ADMINISTRATIVE SERVICES FOR THE ORGANIZATION AND OTHER LCPS ENTITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mike Shepherd Chair | OfficerTrustee | 1 | $0 |
Christine Ng Vice Chair | OfficerTrustee | 1 | $0 |
Kent New Board Member | Trustee | 1 | $0 |
Missy Dekay Board Member | Trustee | 1 | $0 |
Rob Stursberg Board Member | Trustee | 1 | $0 |
Steve Crosby Finance Chair | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Obdp Llc Property Lease Services | 12/30/23 | $2,011,559 |
Smart Solutions Construction Group Construction Services | 12/30/23 | $1,169,144 |
Marvin Mckenzie Ross Construction Services | 12/30/23 | $1,502,147 |
Umbrella It Solutions Llc It Support Services | 12/30/23 | $598,671 |
Rlps Llc Architectural Services | 12/30/23 | $462,698 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,350,820 |
| 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 | $3,350,820 |
| Total Program Service Revenue | $42,548,857 |
| Investment income | $1,507,650 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$363,170 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $47,154,928 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $23,975 |
| Grants and other assistance to domestic individuals. | $73,623 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $242,319 |
| Compensation of current officers, directors, key employees. | $7,572 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $11,276,382 |
| Pension plan accruals and contributions | $186,737 |
| Other employee benefits | $1,641,282 |
| Payroll taxes | $885,061 |
| Fees for services: Management | $1,628,072 |
| Fees for services: Legal | $196,093 |
| Fees for services: Accounting | $59,256 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $139,625 |
| Fees for services: Other | $1,559,324 |
| Advertising and promotion | $46,041 |
| Office expenses | $65,882 |
| Information technology | $701,676 |
| Royalties | $0 |
| Occupancy | $5,248,893 |
| Travel | $36,582 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $40,430 |
| Interest | $4,197,176 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $10,458,568 |
| Insurance | $599,632 |
| All other expenses | $60,623 |
| Total functional expenses | $42,836,632 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,766,181 |
| Savings and temporary cash investments | $435,936 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $918,403 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $217,955 |
| Prepaid expenses and deferred charges | $599,263 |
| Net Land, buildings, and equipment | $170,623,529 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $43,249,340 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $36,682,961 |
| Total assets | $256,493,568 |
| Accounts payable and accrued expenses | $3,551,307 |
| Grants payable | $0 |
| Deferred revenue | $125,864,558 |
| Tax-exempt bond liabilities | $109,555,662 |
| 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 | $49,151,257 |
| Total liabilities | $288,122,784 |
| Net assets without donor restrictions | -$31,629,216 |
| 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 | $256,493,568 |
Grants Awarded
Over the last fiscal year, Life Care Ponte Vedra Inc has awarded $172,088 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
VICAR'S LANDING HOME HEALTH AGENCY PURPOSE: TO CONTRIBUTE WHEN THE ORGANIZATION BROKE OUT AS A SEPARATE ENTITY | $159,588 |
ST JOHNS COUNTY COUNCIL ON AGING PURPOSE: TO ASSIST WITH THE MEALS ON WHEELS PROGRAM | $12,500 |