Methodist Retirement Communities
- Assets
- $91.5m
- Revenue
- $4.6k
- Investments
- $0.0
- Employees
- 0
- Location
- The Woodlands, TX
- Founding
- 11/2016
- Data as of
- 12/2016
- EIN
- 76-6176219
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
2016
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION OWNS THE PROPERTY AND REAL ESTATE FOR METHODIST RETIREMENT COMMUNITIES AND ITS AFFILIATES, AN ORGANIZATION COMMITTED TO QUALITY LIVING FOR SENIOR ADULTS IN FAITH-BASED ENVIRONMENTS. THE COVENANT CONNECTION WITH THE TEXAS ANNUAL CONFERENCE OF UNITED METHODISTS LINKS THE ORGANIZATION TO ITS HERITAGE AND ORIGIN, THOUGH THE ENTIRE SYSTEM OPENLY ACCEPTS PERSONS OF ALL FAITHS AND BELIEFS; WITH NO DISCRIMINATION TOWARD RESIDENTS, STAFF, BOARD MEMBERS, VOLUNTEERS, DONORS, VENDORS, ETC. THE ORGANIZATION ENCOURAGES DONATIONS TO OUR FOUNDATION TO HELP OUR AFFILIATES ASSIST AND RETAIN RESIDENTS WHO OUTLIVE THEIR RESOURCES IN RUNNING LOW ON FUNDS OR EVENTUALLY EVEN OUT OF MONEY THROUGH NO FAULT OF THEIR OWN. THE PROPERTY AND REAL ESTATE IS USED BY THE AFFILIATES TO PROVIDE SERVICES, PROGRAMS, ACTIVITIES, CARE AND HOUSING TO SENIORS IN INDEPENDENT/RESIDENTIAL APARTMENTS, ASSISTED LIVING APARTMENTS, SPECIALTY MEMORY SUPPORT SUITES FOR THOSE WITH ALZHEIMER'S AND OTHER DEMENTIAS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION HOLDS BUILDINGS, LAND, FURNITURE, AND FIXTURES IN TRUST FOR USE BY SUPPORTED ORGANIZATIONS IN ORDER THAT THEY MAY PROVIDE CARE AND NURSING ASSISTANCE FOR ELDERLY RESIDENTS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rev Jack A Womack Chair | OfficerTrustee | 1 | $0 |
Mrs Kimberly K Denney Vice Chair | OfficerTrustee | 5 | $0 |
Mr Ronald E Jennette President/secretary/treasurer | OfficerTrustee | 5 | $0 |
Judge James M Carlow Director | Trustee | 1 | $0 |
Mr Wayne Haglund Director | Trustee | 1 | $0 |
Mrs Lisa Mcnair Director | Trustee | 1 | $0 |
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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| 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 | $4,620 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,169 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $262 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $147,684 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,443,747 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $5,597,862 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $13,860 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $85,418,865 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,041,239 |
| Total assets | $91,473,964 |
| Accounts payable and accrued expenses | $8,017 |
| 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 | $3,314,863 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $3,322,880 |
| Unrestricted restricted net Assets | $88,151,084 |
| 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 | $88,151,084 |