Montage Living
- Assets
- $119.4m
- Revenue
- $32.3m
- Investments
- $0.0
- Employees
- 892
- Location
- Charlotte, NC
- Founding
- 05/2018
- Data as of
- 12/2023
- EIN
- 82-5217687
Organization Overview
Montage Living is located in Charlotte, NC. The organization was established in 2018. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. As of 12/2023, Montage Living employed 892 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Montage Living 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, Montage Living generated $32.3m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 52.3% each year . All expenses for the organization totaled $45.2m during the year ending 12/2023. While expenses have increased by 45.6% per year over the past 6 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
MONTAGE LIVING IS A SOUTH CAROLINA NONPROFIT CORPORATION ORGANIZED AND OPERATED FOR THE EXCLUSIVE CHARITABLE PURPOSE OF RELIEVING THE DISTRESSED THROUGH THE PROVISION OF HOUSING DESIGNED SPECIFICALLY TO ACCOMMODATE AND ADDRESS THE PARTICULAR PHYSICAL, SOCIAL AND CIVIC NEEDS OF THE ELDERLY WHILE PROMOTING THE CONTINUED DIGNITY AND INDEPENDENCE OF ITS RESIDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ASSISTED LIVING IS PROVIDED TO ELDERLY RESIDENTS (OVER AGE 55) WHO RECEIVE ASSISTANCE WITH ALL ACTIVITIES OF DAILY LIVING, PLANNED ACTIVITIES AND NUTRITIOUS DIETICIAN APPROVED MEALS, AS WELL AS REHABILITATION SERVICES AS NEEDED. THE ORGANIZATION OFFERS RECREATIONAL ACTIVITIES, INCLUDING BOOK CLUBS, GARDEN CLUBS, FITNESS OPPORTUNITIES AND OFF-SITE OUTING. TRANSPORTATION IS INCLUDED TO WORSHIP SERVICES, CULTURAL EVENTS AND SHOPPING. PROGRAMS ARE PROVIDED TO ASSIST RESIDENTS WITH HEALTH MANAGEMENT, HOUSEKEEPING, PERSONAL CARE AND OTHER GENERAL LIFESTYLE NEEDS. RENTAL RATES ARE SET AT OR BELOW MARKET RATE FOR THE AREA AS DETERMINED BY A THIRD PARTY ANALYSTS WITH OTHER SERVICES PROVIDED AT THE LOWEST FEASIBLE COST.
MEMORY CARE FACILITY RESIDENTS RECEIVE ADDITIONAL MEDICAL SERVICES TO MEET THESE RESIDENTS' UNIQUE MEDICAL NEEDS. THOSE LIVING WITH ALZHEIMER'S OR OTHER RELATED DISEASES OF DEMENTIA ARE GIVEN A SAFE AND WELCOMING ENVIRONMENT. ASSISTANCE IS OFFERED FOR ACTIVITIES OF DAILY LIVING, DIETICIAN APPROVED MEALS, IN-HOUSE REHABILITATION, LIMITED MEDICAL CARE, TRANSPORTATION FOR OFF-SITE MEDICAL EXAMINATIONS AND FOLLOW-UP TREATMENT. RENTAL RATES ARE SET AT OR BELOW MARKET RATE FOR THE AREA AS DETERMINED BY A THIRD PARTY ANALYSTS WITH OTHER SERVICES PROVIDED AT THE LOWEST FEASIBLE COST.
THE INDEPENDENT LIVING COMMUNITY PROGRAM HAS A 24-HOUR STAFF AND FEATURES VARIOUS SIZE ACCOMMODATIONS WITH PRIVATE LIVING QUARTERS. INDEPENDENT LIVING RESIDENTS ENJOY THE AMENITIES OF THE FACILITIES. DAILY EVENTS AND ACTIVITIES DESIGNED TO ENGAGE RESIDENTS AND PROMOTE CONTINUED INDEPENDENCE AND ACTIVITY IS PROVIDED BY THE ORGANIZATION'S STAFF. THE ORGANIZATION ALSO OFFERS TRANSPORTATION FOR ACTIVITIES, MEDICAL CARE AND WORSHIP SERVICES. HOUSING IS AVAILABLE AT RATES THAT ARE WITHIN THE FINANCIAL REACH OF A SIGNIFICANT SEGMENT OF THE ELDERLY POPULATION WITH RATES THAT ARE SET AT OR BELOW THE MARKET RATE FOR THE AREA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
R Andrew Cox Board Member | Trustee | 1 | $0 |
David Little Board Member | Trustee | 5 | $0 |
Ryan Lambert President | Officer | 25 | $0 |
Andrew Giraldo Treasurer | Officer | 2 | $0 |
Nathanael Andrico Secretary | Officer | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Andrew's Mowing & Landscaping Landscaping | 12/30/23 | $180,001 |
Sysco Atlanta Llc Food Services | 12/30/23 | $113,362 |
Edwards Falls Renegar Accounting Services | 12/30/23 | $105,889 |
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 | $31,990,219 |
| Investment income | $8,705 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $295,246 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $32,294,170 |
| 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 | $12,765,045 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $882,724 |
| Payroll taxes | $1,062,921 |
| Fees for services: Management | $1,014,076 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $489,045 |
| Advertising and promotion | $273,176 |
| Office expenses | $152,384 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $6,384,466 |
| Travel | $14,000 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $13,106 |
| Interest | $11,983,820 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,880,113 |
| Insurance | $0 |
| All other expenses | $578,886 |
| Total functional expenses | $45,173,732 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,175,561 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $796,972 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $17,099 |
| Prepaid expenses and deferred charges | $264,141 |
| Net Land, buildings, and equipment | $109,615,750 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $7,337,451 |
| Other assets | $212,936 |
| Total assets | $119,419,910 |
| Accounts payable and accrued expenses | $18,560,262 |
| Grants payable | $0 |
| Deferred revenue | $118,267 |
| 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 | $147,047,817 |
| Unsecured mortgages and notes payable | $5,813,248 |
| Other liabilities | $868,234 |
| Total liabilities | $172,407,828 |
| Net assets without donor restrictions | $0 |
| 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 | -$52,987,918 |
| Total liabilities and net assets/fund balances | $119,419,910 |