Multi-Faith Retirement Services Live Oak Retirement Center
- Assets
- $13.5m
- Revenue
- $10.9m
- Investments
- $0.0
- Employees
- 146
- Location
- Shreveport, LA
- Founding
- 05/1977
- Data as of
- 09/2021
- EIN
- 72-0809402
Organization Overview
Multi-Faith Retirement Services Live Oak Retirement Center, operating under the name Live Oak Retirement Community, is located in Shreveport, LA. The organization was established in 1977. According to its NTEE Classification (X99) the organization is classified as: Religion-Related N.E.C., under the broad grouping of Religion-Related and related organizations. As of 09/2021, Live Oak Retirement Community employed 146 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Live Oak Retirement Community 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 09/2021, Live Oak Retirement Community generated $10.9m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (2.4%) each year. All expenses for the organization totaled $12.0m during the year ending 09/2021. As we would expect to see with falling revenues, expenses have declined by (1.0%) per year over the past 6 years. 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
PROVIDING HOUSING, HEALTHCARE AND RELATED SERVICES TO THE ELDERLY
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING HOUSING, HEALTHCARE AND OTHER RELATED SERVICES TO THE ELDERLY THROUGH THE OPERATION OF A RETIREMENT COMMUNITY CONSISTING OF 150-STAFFED BED SKILLED NURSING FACILITY AND 118 INDEPENDENT LIVING UNITS. THE CENTER PROVIDED 33,033 DAYS OF NURSING SERVICES DURING THE FISCAL YEAR ENDING SEPTEMBER 30,2021, WHICH IS AN AVERAGE OF 90.50 PATIENTS PER DAY. THE CENTER'S INDEPENDENT LIVING HAD A TOTAL OF 22,035 RESIDENT DAYS DURING THE FISCAL YEAR ENDED SEPTEMBER 30, 2021, WHICH IS AN AVERAGE OF 60.37 RESIDENTS PER DAY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James K Elrod President/ceo/trustee | OfficerTrustee | 5 | $0 |
William J Cole CPA Trustee/treasurer | OfficerTrustee | 4 | $0 |
Richard Sale Trustee/secretary | OfficerTrustee | 4 | $0 |
Jerry A Fielder II President/ceo | Officer | 5 | $0 |
Pierre V Blanchard IV MD Trustee/physician | Trustee | 4 | $0 |
Frank B Hughes MD Trustee/chairman | Trustee | 4 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Per Diem Nursing Nursing Staff | 9/29/21 | $390,898 |
Elite Health Solutions Llc Nursing Staff | 9/29/21 | $150,926 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $132,550 |
| 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 | $132,550 |
| Total Program Service Revenue | $10,265,835 |
| Investment income | $372 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $402,400 |
| 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 | $10,872,483 |
| 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 | $4,809,992 |
| Pension plan accruals and contributions | $60,315 |
| Other employee benefits | $879,943 |
| Payroll taxes | $346,418 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $13,664 |
| Fees for services: Accounting | $22,600 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $892 |
| Office expenses | $54,080 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $368,396 |
| Travel | $2,569 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,097,032 |
| Insurance | $408,244 |
| All other expenses | $508,951 |
| Total functional expenses | $12,006,852 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,334,418 |
| Savings and temporary cash investments | $270,219 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,037,052 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $32,261 |
| Prepaid expenses and deferred charges | $125,727 |
| Net Land, buildings, and equipment | $9,666,016 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $463 |
| Total assets | $13,466,156 |
| Accounts payable and accrued expenses | $1,144,253 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $400,000 |
| Other liabilities | $240,655 |
| Total liabilities | $1,784,908 |
| Net assets without donor restrictions | $11,681,248 |
| 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 | $13,466,156 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ed Rachal Foundation Corpus Christi, TX | $646,089,771 | $106,764,115 |
Glory Of Zion International Ministries Inc Denton, TX | $19,221,752 | $22,884,653 |
Emmaus Calling Inc Lakeway, TX | $82,731,037 | $15,260,002 |
Evelyn Rubenstein Jewish Community Center Of Houston Texas Houston, TX | $63,544,592 | $32,335,855 |
Multi-Faith Retirement Services Live Oak Retirement Center Shreveport, LA | $13,466,156 | $10,872,483 |
El Paso Center For Children Inc El Paso, TX | $2,932,170 | $7,098,518 |
Adult & Teen Challenge Of Texas San Antonio, TX | $11,283,106 | $8,543,774 |
Project Vida El Paso, TX | $4,738,725 | $6,974,845 |
If Gathering Dallas, TX | $3,452,499 | $4,210,258 |
Ecumenical Center For Religion And Health San Antonio, TX | $7,342,387 | $4,148,621 |
To Every Tribe Los Fresnos, TX | $3,193,524 | $2,946,318 |
Missions Of Yahweh Inc Houston, TX | $2,309,465 | $2,489,933 |