Ocoee Foundation Inc
- Assets
- $63.1m
- Revenue
- $77.8m
- Investments
- $0.0
- Employees
- 1,475
- Location
- Cleveland, TN
- Founding
- 12/2000
- Data as of
- 12/2023
- EIN
- 62-1820576
Organization Overview
Ocoee Foundation Inc is located in Cleveland, TN. The organization was established in 2000. According to its NTEE Classification (E91) the organization is classified as: Nursing Facilities, under the broad grouping of Health Care and related organizations. As of 12/2023, Ocoee Foundation Inc employed 1,475 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ocoee Foundation 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, Ocoee Foundation Inc generated $77.8m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 12.8% each year . All expenses for the organization totaled $73.0m during the year ending 12/2023. While expenses have increased by 12.5% 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.
Since 2016, Ocoee Foundation Inc has awarded 26 individual grants totaling $389,000. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO ESTABLISH, DEVELOP, OWN, MAINTAIN AND OPERATE HOSPITALS, NURSING HOMES, ADULT DAY CARE FACILITIES, RESIDENTIAL ASSISTED LIVING FACILITIES, RELATED HEALTH CARE FACILITIES, AND OTHER RESIDENTIAL FACILITIES DESIGNED TO MEET THE HOUSING, HEALTH, PERSONAL NEEDS AND FINANCIAL SECURITY NEEDS OF ELDERLY, DISABLED, POOR, AND OTHER SPECIAL POPULATIONS (THE FACILITIES). THROUGH THESE FACILITIES, THE ORGANIZATION MAY ALSO PROVIDE HEALTH CARE SERVICES. ALL FACILITIES ARE OWNED AND OPERATED ON A NON-PROFIT BASIS. AS FUNDS ALLOW, AND UPON THE APPROVAL OF THE BOARD OF DIRECTORS, THE ORGANIZATION WILL MAKE CONTRIBUTIONS TO OTHER ORGANIZATIONS EXEMPT FROM INCOME TAXATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ESTABLISH, DEVELOP, AND OPERATE NURSING HOMES, RESIDENTIAL ASSISTED LIVING FACILITIES, RELATED HEALTH CARE FACILITIES, AND OTHER RESIDENTIAL FACILITIES TO MEET NEEDS OF THE ELDERLY, DISABLED, POOR, AND OTHER SPECIAL POPULATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dorothy Phillips Director | Trustee | 2 | $20,208 |
Kathleen Kupchynsky Director | Trustee | 2 | $22,660 |
Wiliam S Burton Director | Trustee | 3 | $30,000 |
Alan Smith Director | Trustee | 2 | $27,500 |
Donald Bradley Director | Trustee | 2 | $25,962 |
John Sheehan Jr President | Officer | 40 | $260,336 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Shiftkey Llc Nursing | 12/30/23 | $1,979,947 |
Twin Rivers Health & Rehabilitation Facility Mgmt | 12/30/23 | $3,838,389 |
Functional Pathways Of Tn Therapy | 12/30/23 | $1,589,676 |
Gentech Construction Construction | 12/30/23 | $872,829 |
Guardian Pharmacy Of Knoxville Llc Pharmacy | 12/30/23 | $764,205 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $768,588 |
| 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 | $768,588 |
| Total Program Service Revenue | $76,607,180 |
| Investment income | $15,704 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$6,261 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $77,785,069 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $14,000 |
| 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. | $550,133 |
| Compensation of current officers, directors, key employees. | $550,133 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $33,323,154 |
| Pension plan accruals and contributions | $80,069 |
| Other employee benefits | $2,172,547 |
| Payroll taxes | $2,571,167 |
| Fees for services: Management | $3,884,802 |
| Fees for services: Legal | $83,392 |
| Fees for services: Accounting | $415,903 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $12,205,455 |
| Advertising and promotion | $73,066 |
| Office expenses | $28,622 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $2,113,452 |
| Travel | $241,945 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $87,686 |
| Interest | $1,231,484 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,377,129 |
| Insurance | $996,274 |
| All other expenses | $457,961 |
| Total functional expenses | $72,956,547 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,563,624 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $103,001 |
| Accounts receivable, net | $6,581,714 |
| 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 | $226,329 |
| Net Land, buildings, and equipment | $47,583,393 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $3,419,870 |
| Other assets | $598,844 |
| Total assets | $63,076,775 |
| Accounts payable and accrued expenses | $3,890,196 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $18,098,320 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $891,617 |
| Total liabilities | $22,880,133 |
| Net assets without donor restrictions | $40,196,642 |
| 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 | $63,076,775 |
Grants Awarded
Over the last fiscal year, Ocoee Foundation Inc has awarded $155,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
BROAD STREET UNITY CENTER PURPOSE: DONATION | $10,000 |
CLEVELAND STATE COMMUNITYCOLLEGE FOUNDATION PURPOSE: NURSING PROGRAM | $125,000 |
DESTIN CHARITY WINE AUCTION PURPOSE: DONATION | $20,000 |