Rio Concho Inc
- Assets
- $21.7m
- Revenue
- $5.1m
- Investments
- $0.0
- Employees
- 52
- Location
- San Angelo, TX
- Founding
- 12/1977
- Data as of
- 12/2021
- EIN
- 75-1555161
Organization Overview
Rio Concho Inc is located in San Angelo, TX. The organization was established in 1977. 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, Rio Concho Inc employed 52 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rio Concho 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, Rio Concho Inc generated $5.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.9% each year. All expenses for the organization totaled $5.2m during the year ending 12/2021. While expenses have increased by 1.7% 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
PROVIDE HOUSING FOR PERSONS 62 YEARS AND OLDER THROUGH APARTMENT RENTALS AND LIFETIME LEASES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING HOUSING FOR PERSONS 62 YEARS OF AGE AND OLDER THROUGH APARTMENT RENTALS AND LIFETIME LEASES OF PATIO HOMES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Elisabeth Elsass Executive Dir. | Officer | 40 | $100,771 |
Jim Stanley President | OfficerTrustee | 1 | $0 |
Paul Adam Treasurer | OfficerTrustee | 1 | $0 |
Sandy Speed Secretary | OfficerTrustee | 1 | $0 |
Joyce Sneed Vice President | OfficerTrustee | 1 | $0 |
Jalen Bauman Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Harrison Roofing Roofing | 12/30/21 | $562,708 |
Horizon Builders Construction | 12/30/21 | $368,862 |
Mcgowen's Catering Food Service | 12/30/21 | $320,282 |
Carey Sartain Painting | 12/30/21 | $213,695 |
Concho Carpet Carpet Installation | 12/30/21 | $123,098 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,961 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,961 |
| Total Program Service Revenue | $4,677,527 |
| Investment income | $188,426 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $2,487 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $343,009 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,086,474 |
| 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. | $104,025 |
| Compensation of current officers, directors, key employees. | $22,344 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,006,548 |
| Pension plan accruals and contributions | $13,226 |
| Other employee benefits | $232,269 |
| Payroll taxes | $89,281 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $20,269 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $12,294 |
| Fees for services: Other | $0 |
| Advertising and promotion | $44,405 |
| Office expenses | $34,157 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $450,145 |
| Travel | $199 |
| 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 | $1,111,176 |
| Insurance | $526,989 |
| All other expenses | $230,501 |
| Total functional expenses | $5,195,270 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $867,755 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $96,129 |
| 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 | $76,286 |
| Net Land, buildings, and equipment | $16,708,437 |
| Investments—publicly traded securities | $3,997,110 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $21,745,717 |
| Accounts payable and accrued expenses | $198,220 |
| Grants payable | $0 |
| Deferred revenue | $16,531,294 |
| 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 | $84,200 |
| Total liabilities | $16,813,714 |
| Net assets without donor restrictions | $4,932,003 |
| 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 | $21,745,717 |
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 |