Mayflower Retirement Center Inc
- Assets
- $214.6m
- Revenue
- $30.9m
- Investments
- $50.9m
- Employees
- 468
- Location
- Winter Park, FL
- Founding
- 04/1986
- Data as of
- 12/2023
- EIN
- 59-2617174
Organization Overview
Mayflower Retirement Center Inc is located in Winter Park, 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, Mayflower Retirement Center Inc employed 468 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mayflower Retirement Center 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, Mayflower Retirement Center Inc generated $30.9m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 3.9% each year. All expenses for the organization totaled $37.6m 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
TO PROVIDE HOUSING, HEALTHCARE AND PERSONAL SERVICES FOR THE ELDERLY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INDEPENDENT LIVING - THE ORGANIZATION OFFERS 218 RESIDENTIAL APARTMENT UNITS RANGING FROM ONE BEDROOM TO TWO BEDROOM "GRANDES", 28 SINGLE-FAMILY VILLAS, AND 50 HYBRID APARTMENTS. THE MAYFLOWER OPERATES UNDER THE "CONTINUING CARE" CONCEPT IN WHICH RESIDENTS ENTER INTO AN OCCUPANCY AGREEMENT, WHICH REQUIRES PAYMENT OF A ONE-TIME ENTRANCE FEE AND A MONTHLY SERVICE FEE. GENERALLY, THESE PAYMENTS ENTITLE RESIDENTS TO THE USE AND PRIVILEGES OF THE MAYFLOWER FOR LIFE, INCLUDING CERTAIN NURSING SERVICES IN THE MAYFLOWER'S SKILLED NURSING FACILITY. THE OCCUPANCY AGREEMENT DOES NOT ENTITLE THE RESIDENTS TO AN INTEREST IN THE REAL ESTATE OR ANY PROPERTY OWNED BY THE MAYFLOWER. SEE SCHEDULE O.DURING THE CURENT YEAR, THERE WERE 94,335 RESIDENT DAYS. IN ADDITION, THE MAYFLOWER OFFERS AN EARLY ACCEPTANCE CONTRACT, WHICH ALLOWS THE RESIDENT TO REMAIN IN THEIR OWN HOME BUT HAVE THE GUARANTEE OF HEALTHCARE. DURING 2023, THERE WERE 3,495 RESIDENT DAYS UNDER THIS CONTRACT.
MEMORY SUPPORT - THE ORGANIZATION OFFERS 24 PRIVATE ROOMS IN A SECURE ENVIRONMENT DESIGNED TO SUPPORT INDIVIDUALS WITH VARIOUS MEMORY ISSUES UNDER AN ASSISTED LIVING LICENCE. DURING 2023, THERE WERE 4,599 RESIDENT DAYS. ALSO INCLUDES MISCELLANEOUS PROGRAM SERVICE REVENUE AND EXPENSES FROM MAYFLOWER HOME HEALTH AGENCY. THE HOME HEALTH AGENCY PROVIDES REHABILITATION THERAPY AND OTHER HOME HEALTH SERVICES TO THE RESIDENTS OF MAYFLOWER.
SKILLED NURSING - THE ORGANIZATION OFFERS 60 PRIVATE ROOMS, STATE LICENSED, MEDICARE-APPROVED HEALTH CENTER THAT HAS RECEIVED A 5-STAR RATING FROM CMS AND THE STATE OF FLORIDA, AS WELL AS THE GOVERNOR'S GOLD SEAL AWARD. THE HEALTH CENTER CONTRACTS WITH A BOARD CERTIFIED GERIATRIC PHYSICIAN. IN ADDITION, RESIDENT PHYSICIANS FROM ADVENTHEALTH GROUP COMPLETE THEIR FELLOWSHIP PROGRAMS IN THE HEALTH CENTER UNDER THE GUIDANCE OF THE CENTER'S MEDICAL DIRECTOR. DURING THE CURRENT YEAR, THERE WERE 19,871 RESIDENT DAYS.
ASSISTED LIVING - THE ORGANIZATION OFFERS 31 ASSISTED LIVING RESIDENCES. DURING THE CURRENT YEAR, THERE WERE 9,247 RESIDENT DAYS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steve Kramer President/ceo | OfficerTrustee | 40 | $349,002 |
Debbie Komanski Board Chair | OfficerTrustee | 2 | $0 |
Aubrey Ducker Board Vice-Chair | OfficerTrustee | 2 | $0 |
Ed Kania Treasurer | OfficerTrustee | 1 | $0 |
Myrna Bizer Secretary | OfficerTrustee | 1 | $0 |
Drew Madsen Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ring Power Corporation Generator Rental | 12/30/23 | $2,116,505 |
Quality Care Rehab Inc Therapy Services For Patients | 12/30/23 | $1,247,097 |
Preferred Flooring Contractors Inc Flooring Products/install | 12/30/23 | $1,025,784 |
Direct Supply Healthcare Equipment Healthcare Supplies And Services | 12/30/23 | $726,095 |
Sysco Food Service Food Services | 12/30/23 | $722,614 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $105,701 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $105,701 |
| Total Program Service Revenue | $34,030,516 |
| Investment income | $2,277,053 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$5,546,691 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $30,866,579 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $2,346 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $725,292 |
| Compensation of current officers, directors, key employees. | $725,292 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $12,153,806 |
| Pension plan accruals and contributions | $136,117 |
| Other employee benefits | $1,295,472 |
| Payroll taxes | $913,141 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $61,759 |
| Fees for services: Accounting | $110,036 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $42,563 |
| Fees for services: Other | $416,535 |
| Advertising and promotion | $466,133 |
| Office expenses | $381,807 |
| Information technology | $195,428 |
| Royalties | $0 |
| Occupancy | $2,811,208 |
| Travel | $36,814 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $139,049 |
| Interest | $4,907,807 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,807,840 |
| Insurance | $1,071,190 |
| All other expenses | $236,681 |
| Total functional expenses | $37,615,793 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,522,558 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,115,520 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $30,218 |
| Prepaid expenses and deferred charges | $6,196,799 |
| Net Land, buildings, and equipment | $146,652,825 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $50,937,336 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $7,162,285 |
| Total assets | $214,617,541 |
| Accounts payable and accrued expenses | $2,380,755 |
| Grants payable | $0 |
| Deferred revenue | $52,904,939 |
| Tax-exempt bond liabilities | $117,324,887 |
| 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 | $1,466,161 |
| Other liabilities | $22,161,135 |
| Total liabilities | $196,237,877 |
| Net assets without donor restrictions | $18,166,639 |
| Net assets with donor restrictions | $213,025 |
| 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 | $214,617,541 |