Cypress Cove At Healthpark Florida Inc
- Assets
- $312.1m
- Revenue
- $51.6m
- Investments
- $0.0
- Employees
- 533
- Location
- Fort Myers, FL
- Founding
- 10/1996
- Data as of
- 09/2023
- EIN
- 65-0610085
Organization Overview
Cypress Cove At Healthpark Florida Inc is located in Fort Myers, FL. The organization was established in 1996. 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 09/2023, Cypress Cove At Healthpark Florida Inc employed 533 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cypress Cove At Healthpark Florida 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 09/2023, Cypress Cove At Healthpark Florida Inc generated $51.6m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.7% each year. All expenses for the organization totaled $52.6m during the year ending 09/2023. While expenses have increased by 5.5% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
CREATE & SUSTAIN A CONTINUING CARE RETIREMENT COMMUNITY AT HEALTHPARK, FL AT A REASONABLE COST.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING A CONTINUING CARE COMMUNITY INCLUDING 333 INDEPENDENT LIVING APARTMENTS AND 44 VILLAS TOGETHER WITH APPROPRIATE COMMON AND AMENITY AREAS SITUATED ON 48 ACRES OF THE HEALTHPARK FLORIDA CAMPUS, LOCATED IN LEE COUNTY, FL. WE OFFER A HOLISTIC APPROACH TO LIFE BY PROVIDING THE FINEST RESORT STYLE AMENITIES, SERVICES AND A WELLNESS ENVIRONMENT PLACING A STRONG EMPHASIS ON PREVENTIVE CARE AND MAINTAINING GOOD HEALTH. WE FULFILL OUR MISSION BY: 1) CREATING A CONTINUING CARE COMMUNITY THAT ENCOURAGES ACTIVITY AND PERSONAL GROWTH 2) PROVIDING DINING SERVICES OFFERING A BROAD, SATISFYING, AND NUTRITIOUS ARRAY OF CHOICES EVERY DAY 3) BY PROVIDING HOUSEKEEPING AND TRANSPORTATION, FREEING RESIDENT'S TIME, AND ENERGY 4) DEVELOPING A NEIGHBORHOOD WHICH FOSTERS NEW FRIENDSHIPS 5) PROVIDING GOOD BUSINESS PRACTICES 6) EXCEEDING RESIDENT EXPECTATIONS WHILE ATTENDING TO THEIR EMOTIONAL AND SPIRITUAL NEEDS.
OUR HEALTH CENTER PROVIDES 44 ASSISTED LIVING UNITS, 44 MEMORY CARE ASSISTED LIVING UNITS AND 64 SKILLED NURSING UNITS, AS WELL AS A MODERN REHAB THERAPY GYM. WE FULFILL OUR MISSION BY: 1) MAINTAINING A HIGH QUALITY CONTINUING CARE PROGRAM WITH PROVISIONS FOR ASSISTED LIVING AND NURSING CARE AS IS APPROPRIATE, CONSIDERING THE NEEDS OF THE INDIVIDUAL RESIDENT 2) OFFERING AN ENVIRONMENT WHERE RESIDENTS ARE RESPONSIBLE FOR ORGANIZING THEIR OWN LIVES, YET KNOW THAT SHOULD THEY NEED IT, SUPPORT IS AVAILABLE 3) PROMOTING INNOVATIVE PROGRAMS AND SERVICES, WELLNESS, HEALTHFUL LIVING AND THE OPPORTUNITY FOR RESIDENTS TO LIVE LONGER, HEALTHIER AND MORE FULFILLING LIVES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mary E Franklin Executive Director | Officer | 40 | $263,664 |
Matthew B Lessig Associate Executive Director | Officer | 40 | $178,796 |
Maureen V Oravec Sales Manager | 40 | $129,873 | |
Raymond S Berry Director Of Facilities | 40 | $121,696 | |
Paul Daniel Director Dining Services | Officer | 40 | $161,216 |
Jennifer Porr Asst. Dir. Of Facilities | 40 | $109,306 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Lee Fp Inc Management Fees | 9/29/23 | $1,741,235 |
Shoreline Property Company Llc Building | 9/29/23 | $1,371,084 |
Key Benefit Administrators Inc Healthcare | 9/29/23 | $1,000,053 |
Aegis Therapies Inc Therapy Services | 9/29/23 | $828,285 |
Senioroi Llc Marketing | 9/29/23 | $199,511 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $104,900 |
| Government grants | $2,751,409 |
| All other contributions, gifts, grants, and similar amounts not included above | $619,146 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,475,455 |
| Total Program Service Revenue | $42,614,349 |
| Investment income | $1,965,409 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,105,493 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $51,610,569 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $563,278 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $885,403 |
| Compensation of current officers, directors, key employees. | $50,161 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $14,494,371 |
| Pension plan accruals and contributions | $371,109 |
| Other employee benefits | $1,263,782 |
| Payroll taxes | $1,138,350 |
| Fees for services: Management | $1,741,235 |
| Fees for services: Legal | $551,384 |
| Fees for services: Accounting | $247,349 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $177,623 |
| Fees for services: Other | $479,315 |
| Advertising and promotion | $966,220 |
| Office expenses | $350,533 |
| Information technology | $615,680 |
| Royalties | $0 |
| Occupancy | $7,025,314 |
| Travel | $56,069 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $122,077 |
| Interest | $3,272,690 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,812,138 |
| Insurance | $2,331,191 |
| All other expenses | $295,011 |
| Total functional expenses | $52,566,674 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $42,659,446 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,142,961 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $5,295,400 |
| Inventories for sale or use | $181,108 |
| Prepaid expenses and deferred charges | $2,008,746 |
| Net Land, buildings, and equipment | $168,115,984 |
| Investments—publicly traded securities | $38,813,082 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $53,930,399 |
| Total assets | $312,147,126 |
| Accounts payable and accrued expenses | $17,771,482 |
| Grants payable | $0 |
| Deferred revenue | $68,969,020 |
| Tax-exempt bond liabilities | $168,555,061 |
| 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 | $1,155,206 |
| Other liabilities | $92,741,588 |
| Total liabilities | $349,192,357 |
| Net assets without donor restrictions | -$38,621,601 |
| Net assets with donor restrictions | $1,576,370 |
| 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 | $312,147,126 |