Village Of Germatown Inc
- Assets
- $101.9m
- Revenue
- $24.5m
- Investments
- $0.0
- Employees
- 512
- Location
- Germantown, TN
- Founding
- 04/2003
- Data as of
- 12/2021
- EIN
- 62-1827185
Organization Overview
Village Of Germatown Inc is located in Germantown, TN. The organization was established in 2003. 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 12/2021, Village Of Germatown Inc employed 512 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Village Of Germatown 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 12/2021, Village Of Germatown Inc generated $24.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.7% each year. All expenses for the organization totaled $27.5m during the year ending 12/2021. While expenses have increased by 5.4% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO OPERATE AS A CONTINUING CARE RETIREMENT COMMUNITY
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE VILLAGE AT GERMANTOWN, INC. (THE COMPANY) WAS FORMED ON JULY 25, 2000 AS A NOT-FOR-PROFIT CORPORATION UNDER THE LAWS AND REGULATIONS OF THE STATE OF TENNESSEE. THE COMPANY'S PURPOSE IS TO ACQUIRE REAL PROPERTY AND TO DEVELOP, MARKET AND OPERATE THE PROPERTY AS A CONTINUING CARE RETIREMENT COMMUNITY IN SHELBY COUNTY, TENNESSEE, KNOWN AS THE VILLAGE AT GERMANTOWN, INC. (THE PROJECT). THE CCRC CONSISTS OF 230 INDEPENDENT LIVING UNITS (INCLUDING 202 APARTMENTS AND 28 PATIO HOMES), AND A HEALTHCARE CENTER CONSISTING OF 32 ASSISTED LIVING UNITS, 16 SPECIAL CARE DEMENTIA UNITS, AND 50 SKILLED NURSING BEDS. THE ORGANIZATION RECEIVED CERTIFICATE OF NEED APPROVAL FOR AN ADDITIONAL 5 SKILLED NURSING BEDS. PERMANENT FINANCING OF THE PROJECT OCCURRED IN DECEMBER OF 2003 WITH CONSTRUCTION BEGINNING THAT SAME MONTH. THE PROJECT WAS SUBSTANTIALLY AVAILABLE FOR OCCUPANCY BEGINNING ON OCTOBER 2005. IN FISCAL 2021, THE VILLAGE BILLED 23,951 HEALTHCARE DAYS - 2,248 FOR DEMENTIA, 6,793 FOR ASSISTED LIVING, AND 14,910 FOR SKILLED. OF THESE DAYS, 7,630 WERE MEDICARE DAYS AND 16,321 PRIVATE PAY DAYS/INSURANCE BILLABLE DAYS. OUR INDEPENDENT LIVING OCCUPANCY WAS 195 OF 230.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Craft CEO | Officer | 40 | $286,723 |
Clay Collins CFO | Officer | 40 | $195,948 |
Rebecca Derousse VP Of Healthcare Services | Officer | 40 | $174,358 |
Melissa Rukstad Director Of Wellness | 40 | $157,216 | |
Leslie Reed Director Of Marketing | 40 | $150,480 | |
Vickie Bradley Director Of Hr | 40 | $127,289 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Functional Pathways Of Tn Llc Therapy | 12/30/21 | $913,834 |
Stephenson Home Solutions Llc Maintenance | 12/30/21 | $650,629 |
Blusky Restoration Contractors Llc Maintenance | 12/30/21 | $668,275 |
Certified Medical Staffing Llc Medical Staffing | 12/30/21 | $321,545 |
Compass Laboratory Services Lab Testing | 12/30/21 | $564,526 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,369,427 |
| All other contributions, gifts, grants, and similar amounts not included above | $348,028 |
| Noncash contributions included in lines 1a–1f | $283,028 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,717,455 |
| Total Program Service Revenue | $20,839,123 |
| Investment income | $492,164 |
| Tax Exempt Bond Proceeds | $67,863 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,092,780 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $24,494,754 |
| 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. | $657,029 |
| Compensation of current officers, directors, key employees. | $657,029 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $9,271,314 |
| Pension plan accruals and contributions | $139,418 |
| Other employee benefits | $1,485,117 |
| Payroll taxes | $648,483 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $155,214 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,283,664 |
| Advertising and promotion | $210,079 |
| Office expenses | $604,655 |
| Information technology | $254,055 |
| Royalties | $0 |
| Occupancy | $1,917,042 |
| Travel | $47,683 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $12,696 |
| Interest | $2,246,375 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,398,772 |
| Insurance | $315,125 |
| All other expenses | $219,421 |
| Total functional expenses | $27,480,502 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,419,970 |
| Savings and temporary cash investments | $336,477 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,080,748 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $141,978 |
| Prepaid expenses and deferred charges | $211,115 |
| Net Land, buildings, and equipment | $65,927,374 |
| Investments—publicly traded securities | $31,012,420 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $759,967 |
| Total assets | $101,890,049 |
| Accounts payable and accrued expenses | $6,878,389 |
| Grants payable | $0 |
| Deferred revenue | $4,390,999 |
| Tax-exempt bond liabilities | $19,555,217 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $43,494,024 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $81,209,799 |
| Total liabilities | $155,528,428 |
| Net assets without donor restrictions | -$53,638,379 |
| 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 | $101,890,049 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Village Of Germatown Inc has recieved totaling $117,188.
| Awarding Organization | Amount |
|---|---|
Village At Germantown Foundation Germantown, TN PURPOSE: Help residents unable to pay expenses | $70,588 |
Village At Germantown Foundation Germantown, TN PURPOSE: Help in purchasing Piano for residents | $46,500 |
Myron Lewis Foundation Germantown, TN PURPOSE: THE MYRON LEWIS FOUNDATION DONATED MONIES TO VILLAGE OF GERMANTOWN TO HELP WITH OPERATIONS | $100 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ashby Ponds Inc Ashburn, VA | $1,081,002,554 | $105,782,483 |
Greenspring Village Inc Springfield, VA | $635,246,519 | $86,958,670 |
Goodwin House Incorporated Alexandria, VA | $441,770,291 | $109,508,883 |
John Knox Village Lees Summit, MO | $177,748,432 | $73,269,206 |
Westminster-Canterbury Corporation Richmond, VA | $326,286,753 | $77,739,552 |
Virginia United Methodist Homes Inc Glen Allen, VA | $253,887,875 | $70,234,834 |
Westminster-Canterbury On Chesapeake Bay Virginia Beach, VA | $226,856,514 | $70,077,492 |
Givens Estates Inc Asheville, NC | $338,452,219 | $72,683,846 |
Friendship Village Of South County St Louis, MO | $305,494,367 | $44,131,100 |
Methodist Home For The Aging Birmingham, AL | $118,213,803 | $51,510,138 |
Presbyterian Homes Inc Colfax, NC | $256,348,828 | $62,438,008 |
Aldersgate United Methodist Retirement Community Inc Charlotte, NC | $165,248,151 | $44,725,662 |