Ridgely Senior Care Corp
- Assets
- $16.0m
- Revenue
- $66.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Alexandria, VA
- Founding
- Data as of
- 12/2021
- EIN
- 85-0637894
Organization Overview
Ridgely Senior Care Corp is located in Alexandria, VA. 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. Ridgely Senior Care Corp 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 12/2021, Ridgely Senior Care Corp generated $66.6k in total revenue. All expenses for the organization totaled $236.5k during the year ending 12/2021.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
RIDGELY SENIOR CARE CORPORATION (RSCC)IS A SUCCESSOR TO THE TEMPLE FOUNDATION INC (TEMPLE) A PUBLIC CHARITY EXEMPT FROM INCOME TAX UNDER SECTION 501(C)(3). TEMPLE FORMERLY OPERATED A SENIOR LIVING FACILITY AND CONTINUING CARE RETIREMENT COMMUNITY IN FAIRFAX COUNTY, VA. THE FACILITY WAS OPERATED PURSUANT TO A LEASE AGREEMENT THAT EXPIRED IN APRIL 2019, WHEN THE LESSOR SOLD THE PROPERTY. SINCE THE LEASES INCEPTION IN 1980, TEMPLE ACCRUED RESERVES THAT WERE INTENDED FOR THE RENOVATION OF THE FACILITY AND IN ANTICIPATION OF ACQUIRING THE PROPERTY AT THE END OF THE LEASE TERM. WHEN THE EFFORT TO ACQUIRE THE PROPERTY PROVED UNSUCCESSFUL, THE TEMPLE BOARD DETERMINED THAT THE RESERVES SHOULD BE DONATED TO OTHER CHARITABLE ORGANIZATIONS PROVIDING COMMUNITY SERVICES TO ENHANCE THE LIVES OF OLDER ADULTS. RSCC WAS ESTABLISHED TO DISTRIBUTE THESE ASSETS TO OTHER 501(C)(3) CHARITABLE ORGANIZATIONS THAT ARE ACTIVE IN PROVIDING COMMUNITY SERVICES THAT SUPPORT AND ENHANCE THE QUALITY OF LIFE FOR OLDER
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION WAS FUNDED ON DECEMBER 30, 2020 WHEN THE TRANSFER OF ASSETS OCCURRED. SINCE THAT TIME, THE ORGANIZATION HAS SPENT TIME IDENTIFYING AND REVIEWING PLANS FROM VARIOUS CONTINUING CARE RETIREMENT COMMUNITIES SEEKING FUNDING. IT HAS ALSO BEEN ENGAGED IN LITIGATING CERTAIN CLAIMS BROUGHT AGAINST THE PURCHASER OF A PREDESSOR 501(C)(3) ORGANIZATION WHO WAS THE DONOR OF THE FUNDS USED TO FORM RIDGELY SENIOR CARE CORP.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charles Henry Smith Chairman & D | OfficerTrustee | 1 | $0 |
Thomas L Regnell Secretary & | OfficerTrustee | 1 | $0 |
Donald Calloway Treasurer & | OfficerTrustee | 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 | $48,112 |
| 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 | $66,632 |
| 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 | $100,000 |
| Fees for services: Legal | $79,317 |
| Fees for services: Accounting | $10,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $33,782 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $12,714 |
| 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 | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $637 |
| Total functional expenses | $236,450 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $115,166 |
| 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 | $0 |
| Investments—publicly traded securities | $15,847,211 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $33,743 |
| Total assets | $15,996,120 |
| Accounts payable and accrued expenses | $496 |
| 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 | $496 |
| Net assets without donor restrictions | $15,995,624 |
| 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 | $15,996,120 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Ridgely Senior Care Corp has recieved totaling $15,791,390.
| Awarding Organization | Amount |
|---|---|
The Temple Foundation Inc Fairfax, VA PURPOSE: SUPPORT OTHER 501(C) | $15,791,390 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Goodwin House Incorporated Alexandria, VA | $441,770,291 | $109,508,883 |
Westminster-Canterbury Corporation Richmond, VA | $326,286,753 | $77,739,552 |
Virginia United Methodist Homes Inc Glen Allen, VA | $253,887,875 | $70,234,834 |
Albright Care Services Frederick, MD | $96,340,327 | $64,491,895 |
Westminster-Canterbury On Chesapeake Bay Virginia Beach, VA | $226,856,514 | $70,077,492 |
Givens Estates Inc Asheville, NC | $338,452,219 | $72,683,846 |
Presbyterian Homes Inc Colfax, NC | $256,348,828 | $62,438,008 |
Aldersgate United Methodist Retirement Community Inc Charlotte, NC | $165,248,151 | $44,725,662 |
Everyage Newton, NC | $158,969,277 | $58,100,743 |
Southminster Inc Charlotte, NC | $251,267,272 | $46,562,509 |
Sunnyside Presbyterian Home Harrisonburg, VA | $146,625,946 | $50,868,403 |
Masonic Homes Of Kentucky Inc Masonic Home, KY | $92,700,057 | $43,584,418 |