Rio Concho Inc
- Assets
- $19.5m
- Revenue
- $5.1m
- Investments
- $0.0
- Employees
- 56
- Location
- San Angelo, TX
- Founding
- 12/1977
- Data as of
- 12/2023
- 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 12/2023, Rio Concho Inc employed 56 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 12/2023, Rio Concho Inc generated $5.1m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 1.5% each year. All expenses for the organization totaled $6.0m during the year ending 12/2023. While expenses have increased by 3.0% per year over the past 9 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
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. | OfficerTrustee | 40 | $103,281 |
Sandy Speed President | OfficerTrustee | 1 | $0 |
Sherri Balentine-Tipton Treasurer | OfficerTrustee | 1 | $0 |
Paula Dowler Secretary | OfficerTrustee | 1 | $0 |
Gary Bowen Trustee | Trustee | 1 | $0 |
Joyce Sneed Vice President | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Hampton Kitchen Food Service | 12/30/23 | $469,761 |
Kiser Carpets Flooring | 12/30/23 | $212,886 |
Ignacio Juarez Paint/carpentry | 12/30/23 | $124,390 |
Carey Sartain Paint/carpentry | 12/30/23 | $312,657 |
Tk Elevator Elevator Upgrade | 12/30/23 | $116,139 |
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 | $4,243 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,243 |
| Total Program Service Revenue | $5,379,343 |
| Investment income | $164,246 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $3 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $16,887 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,077,490 |
| 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. | $106,456 |
| Compensation of current officers, directors, key employees. | $22,141 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,136,789 |
| Pension plan accruals and contributions | $17,757 |
| Other employee benefits | $217,170 |
| Payroll taxes | $102,474 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $21,327 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $11,891 |
| Fees for services: Other | $0 |
| Advertising and promotion | $37,135 |
| Office expenses | $35,272 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $445,059 |
| Travel | $0 |
| 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 | $1,048,502 |
| Insurance | $689,357 |
| All other expenses | $260,695 |
| Total functional expenses | $5,994,086 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $536,853 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $57,824 |
| 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 | $75,154 |
| Net Land, buildings, and equipment | $15,103,212 |
| Investments—publicly traded securities | $3,727,100 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,545 |
| Total assets | $19,501,688 |
| Accounts payable and accrued expenses | $269,997 |
| Grants payable | $0 |
| Deferred revenue | $16,150,163 |
| 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 | $117,200 |
| Total liabilities | $16,537,360 |
| Net assets without donor restrictions | $2,964,328 |
| 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 | $19,501,688 |