Liberty Ridge Senior Living Inc
- Assets
- $12.0m
- Revenue
- $2.7m
- Investments
- $0.0
- Employees
- 55
- Location
- Lexington, KY
- Founding
- 06/1999
- Data as of
- 12/2022
- EIN
- 61-1340533
Organization Overview
Liberty Ridge Senior Living Inc is located in Lexington, KY. The organization was established in 1999. 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, Liberty Ridge Senior Living Inc employed 55 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Liberty Ridge Senior Living 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, Liberty Ridge Senior Living Inc generated $2.7m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.4%) each year. All expenses for the organization totaled $3.1m during the year ending 12/2022. 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
PROVIDE RESIDENTIAL HOUSING AND RELATED BASIC SERVICES TO SENIOR CITIZENS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE RESIDENTIAL HOUSING AND RELATED BASIC SERVICES TO SENIOR CITIZENS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kyle Lee Trustee/chairman | OfficerTrustee | 0.5 | $0 |
Cleda Flener Trustee/secretary | OfficerTrustee | 0 | $0 |
Rob Kespelher Trustee | Trustee | 0.5 | $0 |
Patsy Duagherty Trustee | Trustee | 0.5 | $0 |
Phil Lambert Trustee | Trustee | 0.5 | $0 |
John Lawrence Trustee | Trustee | 0.5 | $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 | $6 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6 |
| Total Program Service Revenue | $2,691,455 |
| Investment income | $11,466 |
| 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 | $2,702,927 |
| 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. | $82,491 |
| Compensation of current officers, directors, key employees. | $82,491 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $819,413 |
| Pension plan accruals and contributions | $1,360 |
| Other employee benefits | $86,428 |
| Payroll taxes | $75,614 |
| Fees for services: Management | $96,771 |
| Fees for services: Legal | $26,665 |
| Fees for services: Accounting | $1,025 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $3,411 |
| Fees for services: Other | $0 |
| Advertising and promotion | $106,232 |
| Office expenses | $12,212 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $180,543 |
| Travel | $487 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $50,301 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $421,640 |
| Insurance | $108,022 |
| All other expenses | $405,738 |
| Total functional expenses | $3,135,280 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $509,740 |
| Savings and temporary cash investments | $442,144 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $8,486 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $8,041 |
| Prepaid expenses and deferred charges | $8,857 |
| Net Land, buildings, and equipment | $10,999,192 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $21,441 |
| Total assets | $11,997,901 |
| Accounts payable and accrued expenses | $44,642 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $1,445,000 |
| 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 | $10,013,108 |
| Total liabilities | $11,502,750 |
| Net assets without donor restrictions | $0 |
| 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 | $495,151 |
| Total liabilities and net assets/fund balances | $11,997,901 |