Acts Retirement Services Inc
- Assets
- $52.9m
- Revenue
- $69.6m
- Investments
- $0.0
- Employees
- 894
- Location
- Fort Washington, PA
- Founding
- 12/2009
- Data as of
- 12/2022
- EIN
- 90-0626767
Organization Overview
Acts Retirement Services Inc is located in Fort Washington, PA. The organization was established in 2009. 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, Acts Retirement Services Inc employed 894 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Acts Retirement Services Inc 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, Acts Retirement Services Inc generated $69.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.9% each year. All expenses for the organization totaled $71.2m during the year ending 12/2022. While expenses have increased by 8.8% per year over the past 7 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
ACTS RETIREMENT SERVICES' PURPOSE IS TO SERVE OLDER ADULTS SIXTY-TWO YEARS OF AGE AND OLDER, PROVIDING RETIREMENT-LIFE SERVICES INCLUDING INDEPENDENT LIVING, ASSISTED LIVING, SKILLED NURSING CARE AND COMPLEMENTARY SERVICES; RESPONSIVE TO RESIDENT NEEDS IN A CHRISTIAN MANNER WITHOUT PREJUDICE OR PREFERENCE TO ANY FAITH, IN AN EXPRESSION OF LOVING KINDNESS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ACTS SIGNATURE COMMUNITY SERVICES, INC. (ASCS) PROVIDES SERVICES, SUCH AS HOSPICE, HOME HEALTH, AND PRIMARY CARE SERVICES, TO RESIDENTS LIVING IN CONTINUING CARE RETIREMENT COMMUNITIES THAT ARE RUN BY ACTS RETIREMENT-LIFE COMMUNITIES, INC. AND TO OTHER INDIVIDUALS WITHIN THE SURROUNDING COMMUNITY AND CONDUCTS OTHER ACTIVITIES AND STUDIES THAT AFFECT SENIORS.ACTS MANAGEMENT SERVICES, INC. (AMS) PROVIDES CENTRALIZED MANAGEMENT AND DEVELOPMENT SERVICES FOR ALL OF THE ACTS ENTITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gerald T Grant CEO & Chairman (ascs) | OfficerTrustee | 17 | $818,586 |
Karen I Christiansen President & Assistant Secretary | OfficerTrustee | 17.5 | $593,046 |
Daniel W Lawson II Director, Ams & Aam | Trustee | 0.6 | $0 |
Dilip A Kulathum Director, Ams & Ascs (until 12/4/22) | Trustee | 1 | $0 |
John L Esterhai Jr MD Chairman, Ams & Aam, Director, Ascs | OfficerTrustee | 0.5 | $0 |
Marvin Mashner Director, Ams & Aam | Trustee | 0.4 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Willow Valley Associates Inc Property Management | 12/30/22 | $261,344 |
Kareo Inc It Software/consulting | 12/30/22 | $119,910 |
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 | $68,770,236 |
| Investment income | $42,157 |
| Tax Exempt Bond Proceeds | $1,626 |
| Royalties | $0 |
| Net Rental Income | $131,005 |
| Net Gain/Loss on Asset Sales | $624,578 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $69,569,642 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $150,450 |
| 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. | $12,144,967 |
| Compensation of current officers, directors, key employees. | $2,998,954 |
| Compensation to disqualified persons | $432,663 |
| Other salaries and wages | $39,664,548 |
| Pension plan accruals and contributions | $2,972,939 |
| Other employee benefits | $4,398,491 |
| Payroll taxes | $3,601,592 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $83,873 |
| Fees for services: Accounting | $68,905 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $74,042 |
| Fees for services: Other | $608,313 |
| Advertising and promotion | $23,157 |
| Office expenses | $774,184 |
| Information technology | $208,314 |
| Royalties | $0 |
| Occupancy | $931,294 |
| Travel | $1,694,553 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $28,477 |
| Interest | $356,825 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,383,194 |
| Insurance | $181,674 |
| All other expenses | $374,958 |
| Total functional expenses | $71,182,375 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $175 |
| Savings and temporary cash investments | $3,108,058 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,710,720 |
| 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 | $755,998 |
| Net Land, buildings, and equipment | $15,731,267 |
| Investments—publicly traded securities | $3,352,914 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $3,560,000 |
| Other assets | $23,700,879 |
| Total assets | $52,920,011 |
| Accounts payable and accrued expenses | $24,188,426 |
| 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 | $16,113,048 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $40,301,474 |
| Net assets without donor restrictions | $12,618,537 |
| 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 | $52,920,011 |
Grants Awarded
Over the last fiscal year, Acts Retirement Services Inc has awarded $3,643,764 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
ACTS RETIREMENT-LIFE COMMUNITIES INC PURPOSE: RELEASE OF CONTRIBUTIONS RECEIVED FOR SUPPORTED ORGANIZATIONS | $3,626,436 |
PARK POINTE VILLAGE INC PURPOSE: RELEASE OF CONTRIBUTIONS RECEIVED FOR SUPPORTED ORGANIZATIONS | $9,828 |
PIONEER NETWORK PURPOSE: SPONSORSHIP FOR 2015 CONFERENCE | $7,500 |