Kings Manor Methodist Retirement System Inc is located in Hereford, TX. The organization was established in 1997. 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 12/2022, Kings Manor Methodist Retirement System Inc employed 33 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kings Manor Methodist Retirement System 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 12/2022, Kings Manor Methodist Retirement System Inc generated $1.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (17.8%) each year. All expenses for the organization totaled $1.2m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (17.5%) per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE QUALITY RETIREMENT LIVING AND CHILD CARE SERVICES FOR CITIZENS OF HEREFORD, TEXAS AND THE SURROUNDING AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATION OF AN INDEPENDENT LIVING RETIREMENT CENTER.
OPERATION OF A CHILD CARE FACILITY LICENSED FOR 50 CHILDREN UP TO TEN YEARS OF AGE. THE FACILITY IS OPEN TO THE PUBLIC.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Jim Layman Director/cfo | Officer | 40 | $56,129 |
Scott Keeling Director | Trustee | 0 | $0 |
Dan Higgins Chairman | Trustee | 0 | $0 |
John Perrin Director | Trustee | 0 | $0 |
Brenda Fuentes Director | Trustee | 0 | $0 |
Brent Carlson Director | Trustee | 0 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $130,496 |
All other contributions, gifts, grants, and similar amounts not included above | $110,537 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $241,033 |
Total Program Service Revenue | $852,667 |
Investment income | -$42,974 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
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 | $1,261,055 |
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. | $56,129 |
Compensation of current officers, directors, key employees. | $39,290 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $541,260 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $2,375 |
Payroll taxes | $51,682 |
Fees for services: Management | $0 |
Fees for services: Legal | $250 |
Fees for services: Accounting | $1,300 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $2,479 |
Advertising and promotion | $25,163 |
Office expenses | $0 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $21,567 |
Travel | $0 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $1,258 |
Conferences, conventions, and meetings | $844 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $185,435 |
Insurance | $35,738 |
All other expenses | $55,582 |
Total functional expenses | $1,249,802 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $49,071 |
Savings and temporary cash investments | $186,419 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $70,308 |
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 | $12,503 |
Net Land, buildings, and equipment | $2,519,588 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $270,355 |
Total assets | $3,108,244 |
Accounts payable and accrued expenses | $43,413 |
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 | $0 |
Total liabilities | $43,413 |
Net assets without donor restrictions | $2,647,122 |
Net assets with donor restrictions | $417,709 |
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 | $3,108,244 |
Over the last fiscal year, we have identified 2 grants that Kings Manor Methodist Retirement System Inc has recieved totaling $50,033.
Awarding Organization | Amount |
---|---|
Amarillo Area Foundation Inc Amarillo, TX PURPOSE: GENERAL SUPPORT | $50,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $33 |
Beg. Balance | $242,000 |
Ending Balance | $242,000 |
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 |