Sequoia Living Inc
- Assets
- $412.5m
- Revenue
- $125.0m
- Investments
- $0.0
- Employees
- 738
- Location
- San Francisco, CA
- Founding
- 09/1963
- Data as of
- 12/2021
- EIN
- 94-1437728
Organization Overview
Sequoia Living Inc is located in San Francisco, CA. The organization was established in 1963. 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. As of 12/2021, Sequoia Living Inc employed 738 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sequoia Living 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 12/2021, Sequoia Living Inc generated $125.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.5% each year. All expenses for the organization totaled $105.8m during the year ending 12/2021. While expenses have increased by 7.2% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
SEQUOIA LIVING, INC. PROVIDES ORGANIZATIONAL STRUCTURE AND LEADERSHIP TO MEET THE NEEDS AND IMPROVE THE QUALITY OF LIFE OF OLDER PERSONS BY OFFERING HOUSING AND PROGRAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONTINUING CARE RETIREMENT COMMUNITIES:SEQUOIA LIVING, INC. PROVIDES APARTMENTS, MEALS, LAUNDRY, HOUSEKEEPING, SOCIAL AND CULTURAL ACTIVITIES, AND MEDICAL CARE FOR AROUND 984 RESIDENTS. NEARLY ALL OCCUPANTS HAVE EXECUTED LIFE CARE RESIDENCE AND CARE AGREEMENTS THAT GIVE THEM ACCESS TO ASSISTED LIVING, DEMENTIA CARE, AND SKILLED NURSING IF NEEDED AS THEY AGE AND BECOME FRAILER. A MAJOR PROBLEM FOR THE ELDERLY IS ISOLATION AND DEPRESSION CAUSED BY ECONOMIC, SOCIAL, AND PHYSICAL BARRIERS TO PARTICIPATION IN ACTIVITIES AND CIVIC LIFE. CONTINUING CARE COMMUNITIES REMOVE THESE BARRIERS AND FACILITATE THE ACTIVE ENGAGEMENT OF RESIDENTS. THEY ALSO SMOOTH OUT DIFFICULT AND DISRUPTIVE TRANSITIONS OCCASIONED WHEN PEOPLE NEED HIGHER LEVELS OF PROFESSIONAL ASSISTANCE. IN THE EVENT THAT A RESIDENT RUNS SHORT OF RESOURCES TO COVER THE COST OF CARE, SEQUOIA LIVING WILL WORK WITH THEM AND THEIR FAMILIES AND THROUGH ITS FOUNDATION, WILL SUBSIDIZE EXPENSES SO THAT RESIDENTS ARE NOT FORCED TO MOVE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sara Mcvey President & CEO | Officer | 36 | $558,073 |
Charlie Shoemake Chief Financial Officer | Officer | 36 | $336,370 |
David Latina Chief Business Development Officer | Officer | 30 | $326,324 |
Martha Atwood Chief Human Resource & Compliance Officer | Officer | 36 | $263,461 |
Robert Hays Executive Director, Pv (thru 11/21) | Officer | 40 | $251,556 |
Glen Alan Goddard Executive Director, Ssf | Officer | 40 | $239,064 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Pinnacle Building & Design Building & Design | 12/30/21 | $3,133,600 |
C J Reed Construction Construction | 12/30/21 | $2,630,357 |
Greenbrier Development Llc Construction | 12/30/21 | $445,842 |
Moss Adams Audit/advisory/consulting Services | 12/30/21 | $406,573 |
Greenough Consulting Group Advisory/consulting Services | 12/30/21 | $273,045 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $1,134,449 |
| Government grants | $878,382 |
| 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 | $2,012,831 |
| Total Program Service Revenue | $97,871,261 |
| Investment income | $7,733,261 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $16,443,456 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $125,018,618 |
| 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. | $1,558,523 |
| Compensation of current officers, directors, key employees. | $1,558,523 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $35,347,644 |
| Pension plan accruals and contributions | $292,830 |
| Other employee benefits | $7,700,243 |
| Payroll taxes | $2,420,886 |
| Fees for services: Management | $414,124 |
| Fees for services: Legal | $523,966 |
| Fees for services: Accounting | $461,210 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $268,173 |
| Fees for services: Other | $23,821,750 |
| Advertising and promotion | $96,341 |
| Office expenses | $3,003,826 |
| Information technology | $1,595,055 |
| Royalties | $0 |
| Occupancy | $4,396,116 |
| Travel | $59,086 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $196,610 |
| Interest | $2,492,263 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $11,881,587 |
| Insurance | $847,852 |
| All other expenses | $4,787,486 |
| Total functional expenses | $105,796,164 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $11,269,475 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $41,458,999 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $104,898,390 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,584,099 |
| Net Land, buildings, and equipment | $132,837,396 |
| Investments—publicly traded securities | $113,784,376 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,679,836 |
| Total assets | $412,512,571 |
| Accounts payable and accrued expenses | $16,591,960 |
| Grants payable | $0 |
| Deferred revenue | $128,712,631 |
| Tax-exempt bond liabilities | $58,677,891 |
| 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 | $3,900,000 |
| Other liabilities | $23,660,718 |
| Total liabilities | $231,543,200 |
| Net assets without donor restrictions | $180,969,371 |
| 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 | $412,512,571 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Sequoia Living Inc has recieved totaling $1,256,762.
| Awarding Organization | Amount |
|---|---|
Senior Services For Northern California San Francisco, CA PURPOSE: RESIDENT ASSISTANCE | $1,134,449 |
Aarp Foundation Washington, DC PURPOSE: DONATION TO SUPPORT AARP FOUNDATION'S EXPERIENCE CORPS PROGRAM | $122,000 |
William & Flora Hewlett Foundation Menlo Park, CA PURPOSE: MATCHING GIFT OF STAFF AND BOARD MEMBERS | $200 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $113 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Humangood Norcal Duarte, CA | $678,945,998 | $194,536,667 |
Covia Communities Glendale, CA | $0 | $275,832,129 |
Covenant Retirement Communities West Santa Barbara, CA | $414,845,282 | $122,340,145 |
Humangood Socal Duarte, CA | $306,047,961 | $119,573,837 |
Sequoia Living Inc San Francisco, CA | $412,512,571 | $125,018,618 |
Jewish Home San Francisco, CA | $286,369,109 | $101,598,879 |
Community Eldercare Of San Diego San Diego, CA | $76,291,474 | $103,929,835 |
Center For Elders Independence Oakland, CA | $163,334,060 | $110,881,645 |
Masonic Homes Of California San Francisco, CA | $1,081,181,439 | $41,944,438 |
Motion Picture And Television Fund Woodland Hills, CA | $117,551,107 | $62,254,849 |
Institute On Aging San Francisco, CA | $58,432,886 | $66,846,262 |
Grancell Village Of The Los Angeles Jewish Home For The Aging Reseda, CA | $74,699,459 | $60,276,801 |