Somerset Senior Living At Premier
- Assets
- $2.9m
- Revenue
- $739.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Benton, AR
- Founding
- 08/2019
- Data as of
- 12/2023
- EIN
- 82-3434094
Organization Overview
Somerset Senior Living At Premier, operating under the name Premeier Rehabilitation And Health Center, is located in Benton, AR. The organization was established in 2019. According to its NTEE Classification (P75) the organization is classified as: Supportive Housing for Older Adults, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Premeier Rehabilitation And Health Center 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, Premeier Rehabilitation And Health Center generated $739.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (34.0%) each year. All expenses for the organization totaled $403.7k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (41.0%) per year over the past 6 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO FACILITATE COMPASSIONATE HEALTH CARE THAT IS DESIGNED TO MEET THE PHYSICAL, SOCIAL, RECREATIONAL, HEALTH CARE, AND TRANSPORTATION SPECIAL NEEDS OF THE ELDERLY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION ACTS IN CONCERT WITH COMMUNITY COMPASSION CENTERS OF ARKANSAS (CCCA) TO FORM A NETWORK OF NURSING FACILITIES TO SERVE AS LOCATIONS FOR PROMOTING, DEVELOPING AND ADMINISTERING CULTURE CHANGE, PERSON-CENTERED, LONG-TERM CARE FOR ILL, INFIRM, MEDICALLY DISABLED AND ELDERLY INDIVIDUALS. THE CULTURE CHANGE MODEL OF CARE IS DESIGNED TO EMPOWER ELDERS AND STAFF TO PARTICIPANT IN THE ESTABLISHMENT OF PATHWAYS THAT RESULT IN A HIGH DEGREE OF CHOICE, AUTONOMY, DIGNITY AND SELF-DETERMINATIONS FOR THE ELDERS SERVED.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Black Member Rep | OfficerTrustee | 2 | $0 |
Bill Greene Director | Trustee | 1 | $0 |
Larry Grayson Director | Trustee | 1 | $0 |
Marilyn Riley Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Aegis Therapies Inc Rehab & Therapy | 12/30/22 | $265,203 |
Somerset Senior Living Administrative & General | 12/30/22 | $467,741 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $570,783 |
| 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 | $570,783 |
| Total Program Service Revenue | $0 |
| Investment income | $73,293 |
| 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 | $739,483 |
| 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 | $204,793 |
| Fees for services: Legal | $70,636 |
| Fees for services: Accounting | $49,347 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $62,786 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $3,456 |
| 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 | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,043 |
| All other expenses | $0 |
| Total functional expenses | $403,729 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,754,222 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,399 |
| 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 | $167,222 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $925,632 |
| Total assets | $2,850,475 |
| Accounts payable and accrued expenses | $142,666 |
| Grants payable | $0 |
| Deferred revenue | $108,058 |
| 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 | $250,724 |
| Net assets without donor restrictions | $2,599,751 |
| 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 | $2,850,475 |