Redstone Military Retirement Residence Association
- Assets
- $75.8m
- Revenue
- $19.5m
- Investments
- $10.2m
- Employees
- 366
- Location
- Huntsville, AL
- Founding
- 05/2001
- Data as of
- 12/2021
- EIN
- 63-1169107
Organization Overview
Redstone Military Retirement Residence Association, operating under the name Redstone Village, is located in Huntsville, AL. The organization was established in 2001. According to its NTEE Classification (L22) the organization is classified as: Senior Citizens Housing & Retirement Communities, under the broad grouping of Housing & Shelter and related organizations. As of 12/2021, Redstone Village employed 366 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Redstone Village 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, Redstone Village generated $19.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.0% each year. All expenses for the organization totaled $24.9m during the year ending 12/2021. While expenses have increased by 3.5% 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
OPERATION OF A CONTINUING CARE RETIREMENT COMMUNITY TO PROVIDE HOUSING AND SERVICES TO THE ELDERLY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PROVIDES HOUSING, HEALTHCARE AND RELATED SERVICES TO SENIOR ADULTS THROUGH THE OPERATION OF A CONTINUING CARE RETIREMENT COMMUNITY IN HUNTSVILLE, ALABAMA. THE COMMUNITY CONSISTS OF 127 INDEPENDENT LIVING APARTMENT UNITS, 21 INDEPENDENT LIVING PATIO HOMES, 60 COMBINED ASSISTED LIVING AND CATERED LIVING APARTMENT UNITS, A 48-BED MEMORY SUPPORT ASSISTED LIVING CENTER, AND A 56-BED SKILLED NURSING CENTER. REDSTONE VILLAGE PROVIDES VARIOUS SERVICES TO ITS RESIDENTS, SUCH AS, FOOD PREPARATION AND SERVICE, ACTIVITIES, HOUSEKEEPING, MAINTENANCE AND TRANSPORTATION SERVICES TO CONTRIBUTE TO THE RESIDENTS' HEALTH, SECURITY, HAPPINESS AND PHYSICAL WELL-BEING, WHICH IS THE ORGANIZATION'S EXEMPT PURPOSE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lauren Phillips Director Of Sales/mktg | 40 | $131,573 | |
Vicki Nesmith Skilled Nursing Administra | 40 | $119,690 | |
Col Ret Arthur Meier II President/treasurer | OfficerTrustee | 4 | $0 |
Col Ret Tom Houser 1st. Vice President | OfficerTrustee | 1.5 | $0 |
Patty Angles Secretary | OfficerTrustee | 1 | $0 |
Melissa Jane Scrivner Executive Director | Officer | 40 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Functional Pathways Of Tennessee Llc Therapy Services | 12/30/21 | $703,362 |
Haley's Flooring & Interiors Inc Construction Services | 12/30/21 | $516,700 |
Greenbrier Senior Living Llc Management Services | 12/30/21 | $561,416 |
Inspire Senior Marketing Solutions Marketing Services | 12/30/21 | $451,010 |
Hayes Painting & Pressure Washing Painting Services | 12/30/21 | $279,250 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,486,782 |
| 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 | $1,486,782 |
| Total Program Service Revenue | $18,019,095 |
| Investment income | $48,667 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $34,111 |
| Net Gain/Loss on Asset Sales | -$40,479 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $19,548,176 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,140,700 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $771,126 |
| Payroll taxes | $646,096 |
| Fees for services: Management | $554,462 |
| Fees for services: Legal | $152,592 |
| Fees for services: Accounting | $39,764 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $7,719 |
| Fees for services: Other | $1,102,529 |
| Advertising and promotion | $245,250 |
| Office expenses | $0 |
| Information technology | $318,079 |
| Royalties | $0 |
| Occupancy | $1,168,030 |
| Travel | $26,992 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $6,624,799 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,151,245 |
| Insurance | $807,742 |
| All other expenses | $0 |
| Total functional expenses | $24,937,984 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,093,274 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $561,901 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $23,872 |
| Prepaid expenses and deferred charges | $641,499 |
| Net Land, buildings, and equipment | $62,049,700 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $10,155,077 |
| Investments—program-related | $0 |
| Intangible assets | $154,000 |
| Other assets | $160,460 |
| Total assets | $75,839,783 |
| Accounts payable and accrued expenses | $21,655,871 |
| Grants payable | $0 |
| Deferred revenue | $40,321,113 |
| Tax-exempt bond liabilities | $83,298,375 |
| 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 | $84,138 |
| Total liabilities | $145,359,497 |
| Net assets without donor restrictions | -$69,519,714 |
| 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 | $75,839,783 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
St James Residence Of The Palm Beaches Inc West Palm Beach, FL | $94,288 | $38,104,096 |
Orlando Lutheran Towers Inc Orlando, FL | $80,032,894 | $34,936,633 |
Bonita Springs Retirement Village Inc Gainesville, FL | $109,847,615 | $18,938,390 |
Federation Gulfstream Housing Inc Boca Raton, FL | $0 | $28,667,255 |
Redstone Military Retirement Residence Association Huntsville, AL | $75,839,783 | $19,548,176 |
Concordia Of Florida Inc Tampa, FL | $31,059,059 | $25,497,159 |
St Andrews Residence Of The Diocese Of Southeast Florida Inc West Palm Beach, FL | $295,539 | $24,065,641 |
Lavender Mountain Senior Living Inc Mount Berry, GA | $141,195,331 | $5,176,789 |
Westminster Pines Inc Orlando, FL | $103,132,021 | $15,458,662 |
Skidaway Health And Living Services Inc Savannah, GA | $89,340,251 | $17,567,308 |
Palm Shores Retirement Community Inc Orlando, FL | $37,421,751 | $16,521,390 |
St George Village-Catholic Community Retirement Center Roswell, GA | $71,436,640 | $13,654,810 |