Retirement Housing Foundation
- Assets
- $207.4m
- Revenue
- $106.9m
- Investments
- $0.0
- Employees
- 78
- Location
- Long Beach, CA
- Founding
- 12/2014
- Data as of
- 09/2023
- EIN
- 95-2249495
Organization Overview
Retirement Housing Foundation is located in Long Beach, CA. The organization was established in 2014. 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 09/2023, Retirement Housing Foundation employed 78 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Retirement Housing Foundation 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 09/2023, Retirement Housing Foundation generated $106.9m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 14.9% each year . All expenses for the organization totaled $28.5m during the year ending 09/2023. While expenses have increased by 2.7% per year over the past 8 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.
Since 2015, Retirement Housing Foundation has awarded 42 individual grants totaling $16,120,637. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO DEVELOP & MANAGE LOW INCOME AND ASSISTED LIVING HOUSING COMMUNITIES AND SKILLED NURSING FACILITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RETIREMENT HOUSING FOUNDATION PROVIDES DEVELOPMENT AND MANAGEMENT EXPERTISE, EITHER DIRECTLY OR THROUGH AFFILIATED NONPROFIT CORPORATIONS, IN THE FIELD OF AFFORDABLE HOUSING AND SERVICES FOR LOW AND VERY LOW INCOME FAMILIES AND THE ELDERLY. THE CORPORATION ALSO PROVIDES ASSISTED LIVING AND SKILLED NURSING FACILITIES IN ADDITION TO MANY OF THE LOW & VERY LOW INCOME HOUSING FACILITIES. THE CORPORATION SERVES OVER 20,000 RESIDENTS/PATIENTS IN 29 STATES INCLUDING THE VIRGIN ISLANDS, PUERTO RICO & THE DISTRICT OF COLUMBIA. THE CORPORATION EMPLOYS APPROXIMATELY 2,800 PEOPLE NATIONWIDE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Desaegher Norma N Director | OfficerTrustee | 5 | $0 |
East Raymond E Director | Trustee | 5 | $0 |
Moyer David S Director | OfficerTrustee | 5 | $0 |
Pollock Jeffrey R Director | Trustee | 5 | $0 |
Potter Christina E Director | Trustee | 5 | $0 |
Hartman Stuart J President/ceo | Officer | 40 | $608,035 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Har Bro Of Northern California Construction Services | 9/29/20 | $2,004,301 |
Kustom Us Inc Construction Services | 9/29/20 | $1,749,345 |
Har Bro West Inc Construction Services | 9/29/20 | $1,595,055 |
Prelude Services It Services | 9/29/20 | $1,386,070 |
Temporary Accomodation Hotel Rental | 9/29/20 | $1,157,164 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $83,719,562 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $83,723,562 |
| Total Program Service Revenue | $20,645,131 |
| Investment income | $2,501,501 |
| 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 | $106,870,194 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $4,615,882 |
| 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. | $2,398,365 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,698,742 |
| Pension plan accruals and contributions | $330,071 |
| Other employee benefits | $784,875 |
| Payroll taxes | $605,016 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,669,598 |
| Fees for services: Accounting | $225,489 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $924,963 |
| Advertising and promotion | $64,262 |
| Office expenses | $767,774 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $194,816 |
| Travel | $348,676 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $243,210 |
| Interest | $1,254,448 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $401,729 |
| Insurance | $411,034 |
| All other expenses | $56,262 |
| Total functional expenses | $28,484,740 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $19,597 |
| Savings and temporary cash investments | $38,425,232 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $640 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $535,078 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,306,077 |
| Net Land, buildings, and equipment | $6,265,848 |
| Investments—publicly traded securities | $99,958,482 |
| Investments—other securities | $0 |
| Investments—program-related | $60,854,199 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $207,365,153 |
| Accounts payable and accrued expenses | $5,851,026 |
| 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 | $84,282 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $13,219,797 |
| Total liabilities | $19,155,105 |
| Net assets without donor restrictions | $188,210,048 |
| 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 | $207,365,153 |
Grants Awarded
Over the last fiscal year, Retirement Housing Foundation has awarded $4,612,033 in support to 12 organizations.
| Grant Recipient | Amount |
|---|---|
RHF CHARITABLE FOUNDATION PURPOSE: TO PROVIDE ADDITIONAL SUPPORT TO RELATED CHARITABLE ORGANIZATION WHICH IS IN NEED OF FINANCIAL ASSISTANCE. | $334,664 |
RHF FOUNDATION PURPOSE: TO PROVIDE ADDITIONAL SUPPORT TO RELATED CHARITABLE ORGANIZATION WHICH IS IN NEED OF FINANCIAL ASSISTANCE. | $917,373 |
BLUEGRASS RHF HOUSING (COLONIAL HEIGHTS) PURPOSE: TO PROVIDE ADDITIONAL SUPPORT TO RELATED CHARITABLE ORGANIZATION WHICH IS IN NEED OF FINANCIAL ASSISTANCE. | $150,000 |
PIONEER TOWERS PURPOSE: TO PROVIDE ADDITIONAL SUPPORT TO RELATED CHARITABLE ORGANIZATION WHICH IS IN NEED OF FINANCIAL ASSISTANCE. | $500,000 |
SAN JACINTO MANOR ASSOCIATES PURPOSE: TO PROVIDE ADDITIONAL SUPPORT TO RELATED CHARITABLE ORGANIZATION WHICH IS IN NEED OF FINANCIAL ASSISTANCE. | $20,000 |
WARREN CHAPEL CME CHURCH PURPOSE: TO PROVIDE ADDITIONAL SUPPORT TO RELATED CHARITABLE ORGANIZATION WHICH IS IN NEED OF FINANCIAL ASSISTANCE. | $2,187,151 |