United Methodist Retirement Community Inc
- Assets
- $23.7m
- Revenue
- $9.5m
- Investments
- $98.6k
- Employees
- 153
- Location
- Wilmore, KY
- Founding
- 02/1991
- Data as of
- 12/2022
- EIN
- 61-1164550
Organization Overview
United Methodist Retirement Community Inc is located in Wilmore, KY. The organization was established in 1991. 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, United Methodist Retirement Community Inc employed 153 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. United Methodist Retirement Community 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, United Methodist Retirement Community Inc generated $9.5m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.6% each year. All expenses for the organization totaled $8.0m during the year ending 12/2022. While expenses have increased by 1.4% per year over the past 8 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
DEVELOP, CONSTRUCT, AND MANAGE A CONTINUING CARE RETIREMENT COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DEVELOPMENT AND OPERATION OF AN INDEPENDENT LIVING RETIREMENT COMMUNITY, A PERSONAL CARE FACILITY, AND A FULL CARE NURSING FACILITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Atchison Chairman | Trustee | 1 | $0 |
John Adams Secretary | Trustee | 1 | $0 |
Jere Mcintyre Treasurer | Trustee | 1 | $0 |
Elaine Wilson Vice-Chair | Trustee | 1 | $0 |
Bob Baldwin Director | Trustee | 1 | $0 |
Kristen Clark Director | Trustee | 1 | $0 |
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 | $714,822 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $714,822 |
| Total Program Service Revenue | $7,550,980 |
| Investment income | $3,261 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,186,496 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,473,748 |
| 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. | $143,454 |
| Compensation of current officers, directors, key employees. | $143,454 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,700,764 |
| Pension plan accruals and contributions | $20,886 |
| Other employee benefits | $217,094 |
| Payroll taxes | $330,556 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $20,250 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $794 |
| Fees for services: Other | $40,326 |
| Advertising and promotion | $5,965 |
| Office expenses | $74,273 |
| Information technology | $18,127 |
| Royalties | $0 |
| Occupancy | $595,483 |
| Travel | $14,102 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $599,946 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $903,828 |
| Insurance | $126,490 |
| All other expenses | $156,279 |
| Total functional expenses | $8,031,344 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $706,974 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $257,487 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $25,241 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $20,710,245 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $98,587 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,943,541 |
| Total assets | $23,742,075 |
| Accounts payable and accrued expenses | $609,628 |
| Grants payable | $0 |
| Deferred revenue | $5,879,679 |
| 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 | $13,196,638 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,573,199 |
| Total liabilities | $21,259,144 |
| Net assets without donor restrictions | $927,866 |
| Net assets with donor restrictions | $1,555,065 |
| 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 | $23,742,075 |