Seniors Rising Homes Inc
- Assets
- $14.5m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 5
- Location
- Phoenix, AZ
- Founding
- 05/1951
- Data as of
- 12/2022
- EIN
- 86-0360338
Organization Overview
Seniors Rising Homes Inc, operating under the name Waymark Gardens, is located in Phoenix, AZ. The organization was established in 1951. 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. As of 12/2022, Waymark Gardens employed 5 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Waymark Gardens 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 12/2022, Waymark Gardens generated $1.5m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 3.7% each year. All expenses for the organization totaled $2.0m during the year ending 12/2022. While expenses have increased by 13.4% per year over the past 5 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE HOUSING FACILITIES AND SERVICES TO ELDERLY AND HANDICAPPED PERSONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THIS ORGANIZATION PROVIDED AFFORDABLE HOUSING TO LOW-INCOME ELDERLY RESIDENTS AND INDIVIDUALS WITH DISABILITIES THROUGH THE OPERATION OF A 150-UNIT, HUD SECTION 8 MULTIFAMILY HOUSING COMMUNITY. THE ORGANIZATION SERVED 151 RESIDENTS: 1% UNDER 62; 79% BETWEEN THE AGES OF 62-81; AND 17% BETWEEN AGES 82-93 AND 3% 94 AND OVER. IN 2021 A SERVICE COORDINATOR WAS HIRED PART-TIME TO ASSIST RESIDENTS IN OBTAINING A VARIETY OF SOCIAL SERVICES AND AGENCY EFERRALS. DURING THIS YEAR, THIS COMMUNITY CONTINUED TO BE IMPACTED BY THE COVID-19 PANDEMIC AND HAD LIMITED SOCIAL ACTIVITIES AND COMMUNITY EVENTS. WHILE RESIDENTS DEALT WITH SOCIAL ISOLATION AND QUARANTINE, MANY OF THE SERVICES PROVIDED BY THE SERVICE COORDINATOR FOCUSED ON COVID VACCINE AND TESTING INFO, ADVOCACY, ASSESSMENTS, CASE MANAGEMENT, HOMEMAKER SERVICES, HEALTHCARE SERVICES, LEGAL ASSISTANCE, AND TRANSPORTATION. AS COIVD RESTRICTIONS LIFTED TOWARD THE END OF THE YEAR, RESIDNET ACTIVITIES SUCH AS EXERCISE CLASSES AND BINGO RESUMED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Eric Luster President/chairperson | OfficerTrustee | 40 | $158,080 |
Jake Mehlberg Director | Trustee | 2 | $107,768 |
Johannah Uriri-Glover Vice President/vice Chairperson | OfficerTrustee | 2 | $0 |
Stanley Henderson Secretary | OfficerTrustee | 2 | $0 |
Barbara Roberts Director | Trustee | 2 | $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 | $1,517,682 |
| Investment income | $376 |
| 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 | $1,518,058 |
| 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. | $158,080 |
| Compensation of current officers, directors, key employees. | $158,080 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $451,497 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $79,072 |
| Payroll taxes | $50,604 |
| Fees for services: Management | $0 |
| 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 | $627,440 |
| Advertising and promotion | $0 |
| Office expenses | $64,160 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $193,356 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $151,520 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $19,519 |
| Insurance | $62,368 |
| All other expenses | $0 |
| Total functional expenses | $1,959,164 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,647,534 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $9,906 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,000,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $56,301 |
| Net Land, buildings, and equipment | $5,305,630 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,513,053 |
| Total assets | $14,532,424 |
| Accounts payable and accrued expenses | $951,374 |
| Grants payable | $0 |
| Deferred revenue | $11,419 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $38,160 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $12,925,126 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $13,926,079 |
| 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 | -$441,106 |
| Total liabilities and net assets/fund balances | $14,532,424 |