Methodist Retirement Communities
- Assets
- $2.6m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 0
- Location
- The Woodlands, TX
- Founding
- 11/2016
- Data as of
- 12/2015
- EIN
- 76-0674922
Organization Overview
Methodist Retirement Communities is located in The Woodlands, TX. The organization was established in 2016. 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. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Methodist Retirement Communities is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2015
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION IS COMMITTED TO QUALITY LIVING FOR SENIOR ADULTS IN A FAITH-BASED ENVIRONMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HAPPY HARBOR SENIOR HOUSING (HUD PROJECT NO. 114-11232) (THE PROJECT) IS A TAX EXEMPT ORGANIZATION OPERATING A 51-UNIT APARTMENT COMPLEX FOR THE ELDERLY LOCATED IN LA PORTE, TEXAS. THE PROJECT IS OPERATED UNDER SECTION 207 OF THE NATIONAL HOUSING ACT AND REGULATED BY THE UNITED STATES DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD) WITHRESPECT TO RENTAL CHARGES AND OPERATING METHODS. THE PROJECT'S SECTION 207 HUD-INSURED LOAN IS CONSIDERED A MAJOR PROGRAM. THE PROJECT IS ALSO SUBJECT TO SECTION 8 HOUSING ASSISTANCE PAYMENTS AND SERVICE COORDINATOR GRANT AGREEMENTS WITH HUD, AND A SIGNIFICANT PORTION OF THE PROJECT'S RENTAL REVENUE IS RECEIVED FROM HUD THROUGH THESE AGREEMENTS. THE PROJECT'S SECTION 8 RENT SUBSIDY AND THE SERVICE COORDINATOR GRANT ARE CONSIDERED NONMAJOR PROGRAMS. THE PROJECT IS SPONSORED BY METHODIST RETIREMENT COMMUNITIES (MRC), WHO ALSO APPOINTS THE BOARD OF DIRECTORS OF THE PROJECT.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mr Ronald E Jennette President | OfficerTrustee | 2 | $0 |
Mr Thomas R Wussow Vice Chair | OfficerTrustee | 1 | $0 |
Mr Horace Leopard Chair | OfficerTrustee | 1 | $0 |
Mrs Tiffany Bertrand Secretary | Officer | 1 | $0 |
Mr Don Stephens CFO | Officer | 0 | $0 |
Mrs Cindy Beggs Treasurer | Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $1,988 |
| Government grants | $539,583 |
| 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 | $541,571 |
| Total Program Service Revenue | $529,898 |
| Investment income | $720 |
| 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 | $1,076,856 |
| 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 | $92,372 |
| Pension plan accruals and contributions | $647 |
| Other employee benefits | $415 |
| Payroll taxes | $7,715 |
| Fees for services: Management | $22,829 |
| Fees for services: Legal | $524 |
| Fees for services: Accounting | $14,620 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,327 |
| Advertising and promotion | $148 |
| Office expenses | $11,358 |
| Information technology | $8,221 |
| Royalties | $0 |
| Occupancy | $36,771 |
| Travel | $5,136 |
| 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 | $59,353 |
| Insurance | $79,039 |
| All other expenses | -$18,024 |
| Total functional expenses | $400,944 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $27,056 |
| Savings and temporary cash investments | $613,221 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $12,703 |
| 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 | $4,567 |
| Net Land, buildings, and equipment | $688,562 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,284,123 |
| Total assets | $2,630,232 |
| Accounts payable and accrued expenses | $160,780 |
| 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 | $2,057,281 |
| Unsecured mortgages and notes payable | $506,698 |
| Other liabilities | $55,615 |
| Total liabilities | $2,780,374 |
| Unrestricted restricted net Assets | -$150,142 |
| Temporarily restricted net Assets | $0 |
| Permanently restricted net Assets or current funds | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total net assets or fund balances | -$150,142 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Methodist Retirement Communities has recieved totaling $41,351.
| Awarding Organization | Amount |
|---|---|
United Methodist Senior Servicesfoundation The Woodlands, TX PURPOSE: GRANTS WERE PROVIDED TO ASSIST THE ORGANIZATION IN ITS CHARITABLE MISSION. | $41,351 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
National Campus And Community Development Corporation Inc Austin, TX | $887,216,722 | $73,390,968 |
Highland Springs Inc Dallas, TX | $511,119,867 | $65,778,330 |
Buckner Retirement Services Inc Dallas, TX | $144,152,515 | $58,030,892 |
Eagles Trace Inc Houston, TX | $392,478,600 | $52,950,819 |
Presbyterian Village North Dallas, TX | $220,743,885 | $46,469,442 |
Montereau Inc Tulsa, OK | $185,837,162 | $41,785,985 |
Buckner Senior Living Inc Dallas, TX | $215,344,263 | $20,049,948 |
La Vida Llena Albuquerque, NM | $163,809,368 | $31,265,301 |
The Legacy Midtown Park Inc Dallas, TX | $173,980,133 | $7,399,995 |
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 |