Clarewood House Inc
- Assets
- $39.9m
- Revenue
- $13.1m
- Investments
- $377.2k
- Employees
- 222
- Location
- Houston, TX
- Founding
- 11/1964
- Data as of
- 12/2021
- EIN
- 74-1468123
Organization Overview
Clarewood House Inc is located in Houston, TX. The organization was established in 1964. 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, Clarewood House Inc employed 222 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Clarewood House 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, Clarewood House Inc generated $13.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.8% each year. All expenses for the organization totaled $9.8m during the year ending 12/2021. 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
CLAREWOOD HOUSE INC. PROVIDES A RESIDENTIAL RETIREMENT COMMUNITY FOR THE ELDERLY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CLAREWOOD HOUSE INC PROVIDES A FAITH-BASED RESIDENTIAL RETIREMENT COMMUNITY WHICH PROVIDES FOR INDEPENDENT LIVING APARTMENTS, ASSISTED LIVING, AND SKILLED NURSING CARE FOR THE ELDERLY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Patrick J Pheifer Executive Dirctor | Officer | 40 | $325,280 |
Richard Gravette CFO | 40 | $109,555 | |
Nishaben Patel Director Of Nursing | 40 | $102,151 | |
Philip Nathans President | OfficerTrustee | 1 | $0 |
Gary B Maddox Immediate Past President | OfficerTrustee | 1 | $0 |
Patricia Maddox Vice President | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Genesis Rehabilitative Services Therapy Services | 12/30/21 | $301,917 |
Legacy Healthcare Services Therapy Services | 12/30/21 | $179,553 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $40,404 |
| Government grants | $1,368,664 |
| All other contributions, gifts, grants, and similar amounts not included above | $9,389 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,418,457 |
| Total Program Service Revenue | $9,570,889 |
| Investment income | $1,091,619 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $977,574 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $13,058,539 |
| 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. | $348,077 |
| Compensation of current officers, directors, key employees. | $174,038 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,701,942 |
| Pension plan accruals and contributions | $219,199 |
| Other employee benefits | $404,060 |
| Payroll taxes | $386,196 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $8,430 |
| Fees for services: Accounting | $55,383 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $91,312 |
| Fees for services: Other | $32,066 |
| Advertising and promotion | $47,101 |
| Office expenses | $70,611 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,080,366 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,593 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $978,091 |
| Insurance | $223,411 |
| All other expenses | $9,174 |
| Total functional expenses | $9,808,676 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $234,880 |
| Savings and temporary cash investments | $3,723,185 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $532,684 |
| 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 | $76,855 |
| Net Land, buildings, and equipment | $11,157,493 |
| Investments—publicly traded securities | $23,647,716 |
| Investments—other securities | $377,226 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $120,009 |
| Total assets | $39,870,048 |
| Accounts payable and accrued expenses | $851,609 |
| 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 | $0 |
| Other liabilities | $603,791 |
| Total liabilities | $1,455,400 |
| Net assets without donor restrictions | $38,414,648 |
| 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 | $39,870,048 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Clarewood House Inc has recieved totaling $25,000.
| Awarding Organization | Amount |
|---|---|
Isla Carroll Turner Friendship Tr Houston, TX PURPOSE: AID TO SENIOR RESIDENTS | $25,000 |
Endowment Analysis
| Beg. Balance | $7,331,324 |
| Earnings | $1,244,370 |
| Ending Balance | $8,575,694 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Bst Senior Living West Inc San Antonio, TX | $112,083,644 | $24,466,156 |
Incarnate Word Retirement Community Inc San Antonio, TX | $10,969,268 | $19,152,851 |
Neighborhood In Rio Rancho Rio Rancho, NM | $43,319,912 | $14,930,529 |
Woldenberg Village Inc New Orleans, LA | $27,827,418 | $14,584,574 |
Bst Senior Living East Inc San Antonio, TX | $59,251,034 | $9,119,781 |
George Gervin Youth Center Inc San Antonio, TX | $26,261,586 | $16,043,559 |
Methodist Retirement Communities The Woodlands, TX | $24,592,359 | $13,174,524 |
Haverland Carter Lifestyle Group Albuquerque, NM | $60,146,748 | $9,864,395 |
Lutheran Senior Citizens Inc Oklahoma City, OK | $21,167,432 | $11,372,456 |
Lutheran Sunset Ministries Clifton, TX | $33,524,752 | $11,876,398 |
Methodist Retirement Communities The Woodlands, TX | $7,640,835 | $12,110,100 |
Wichita Falls Retirement Foundation Wichita Falls, TX | $25,020,242 | $10,435,420 |