Village East Inc
- Assets
- $5.5m
- Revenue
- $2.1m
- Investments
- $0.0
- Employees
- 25
- Location
- Louisville, KY
- Founding
- 10/2015
- Data as of
- 12/2019
- EIN
- 61-1314723
Organization Overview
Village East Inc is located in Louisville, KY. The organization was established in 2015. According to its NTEE Classification (X99) the organization is classified as: Religion-Related N.E.C., under the broad grouping of Religion-Related and related organizations. As of 12/2018, Village East Inc employed 25 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Village East 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 12/2019, Village East Inc generated $2.1m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 3.4% each year. All expenses for the organization totaled $1.7m during the year ending 12/2019. While expenses have increased by 0.2% per year over the past 5 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
2019
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF VILLAGE EAST, INC. IS TO PROVIDE AFFORDABLE QUALITY RETIREMENT CARE INCLUDING INDEPENDENT LIVING WITH SUPPORTIVE SERVICES AND ASSISTED LIVING SERVICES FOR SENIOR CITIZENS IN A NURTURING AND CHRISTIAN ENVIRONMENT REGARDLESS OF A PERSON'S RELIGION, RACE, COLOR, CREED, OR NEED FOR FINANCIAL ASSISTANCE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
KARLEN ASSISTED LIVING (KAL) - THE ORGANIZATION OPERATES AN ASSISTED LIVING FACILITY, PROVIDING ASSISTANCE WITH ACTIVITIES OF DAILY LIVING FOR A MONTHLY FEE, WITH A CAPACITY OF 19 RESIDENTS AT ANY TIME.
APARTMENTS - ONE OR TWO BEDROOM APARTMENT HOMES ARE AVAILABLE, FOR A MONTHLY RENT BASED ON THE RESIDENTS MONTHLY INCOME TO PEOPLE AGE 55 OR OLDER. OPTIONAL SERVICES SIMILAR TO PATIO HOME RESIDENTS ARE AVAILABLE TO APARTMENT HOME RESIDENTS. 29 APARTMENTS ARE AVAILABLE FOR RENTAL.
PATIO HOMES (VAM) - THE ORGANIZATION GIVES RESIDENTS THE OPPORTUNITY TO PURCHASE, THROUGH AN ENTRY FEE CONTRACT, THEIR OWN PATIO HOME. REVENUES ARE DERIVED FROM MONTHLY MAINTENANCE FEES FOR HOME MAINTENANCE, INSURANCE, TRANSPORTATION, AND ACTIVITIES. OPTIONAL SERVICES INCLUDE HOME DELIVERED MEALS, LAUNDRY SERVICE, HOUSEKEEPING, AND HOME HEALTH CARE. THERE ARE 24 APARTMENT HOMES, WHICH ARE PURCHASED FROM THE ENTITY, WITH AN AGREEMENT FOR RE-PURCHASE AT A MINIMUM PRICE POINT, TO EASE CONCERNS ABOUT LIQUIDATION SHOULD FINANCIAL NEED ARISE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christina Newman Executive Dir. | Trustee | 40 | $90,000 |
Ralph Wilson Director | Trustee | 0 | $0 |
Henrietta Barker Secretary | Trustee | 2 | $0 |
Susan Eicher President | Trustee | 1 | $0 |
Ken List Treasurer | Trustee | 1 | $0 |
Leslie Halfacre Director | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $909,034 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,117,251 |
| Statement of Expenses | |
|---|---|
| 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. | $90,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $426,189 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $5,036 |
| Payroll taxes | $44,213 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,665 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $6,932 |
| Advertising and promotion | $25,496 |
| Office expenses | $565 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $334,572 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $251,585 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $317,939 |
| Insurance | $70,677 |
| All other expenses | $6,225 |
| Total functional expenses | $1,665,635 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $16,291 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $29,435 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,538,583 |
| Accounts payable and accrued expenses | $65,526 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $24,000 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $4,177,389 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $4,003,127 |
| Total liabilities | $8,270,042 |
| Net assets without donor restrictions | -$2,731,459 |
| 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 |
| Total liabilities and net assets/fund balances | -$2,731,459 |
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