United Church Of Christ Retirement Community Inc
- Assets
- $98.2m
- Revenue
- $30.6m
- Investments
- $0.0
- Employees
- 412
- Location
- Concord, NH
- Founding
- 06/1964
- Data as of
- 12/2021
- EIN
- 02-0280183
Organization Overview
United Church Of Christ Retirement Community Inc, operating under the name Havenwood-Heritage Heights, is located in Concord, NH. The organization was established in 1964. 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, Havenwood-Heritage Heights employed 412 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Havenwood-Heritage Heights 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, Havenwood-Heritage Heights generated $30.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.1% each year. All expenses for the organization totaled $28.3m during the year ending 12/2021. While expenses have increased by 2.0% 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
A FAITH-BASED RETIREMENT COMMUNITY PROVIDING SERVICE & CARE TO PEOPLE OF VARYING BACKGROUNDS
Describe the Organization's Program Activity:
Part 3 - Line 4a
HOUSING PROGRAMS AND ANCILLARY SERVICES: CONTINUING CARE RETIREMENT COMMUNITY (CCRC) ON TWO CAMPUSES SERVING 514 OLDER ADULTS. SERVICES PROVIDED RANGE FROM ASSISTED LIVING TO SKILLED NURSING HOME CARE TO SERVICES FOR THOSE WHO LIVE INDEPENDENTLY. WE ARE A CCRC ENRICHED BY THE DIVERSITY OF ITS MEMBERS, LIVING TOGETHER IN A SPIRIT OF MUTUAL RESPECT AND ACCEPTANCE. WE OFFER SERVICES, FACILITIES AND PROGRAMS THAT ARE MEANINGFUL, PROMOTE WELL-BEING, AND MEET THE ENVIRONMENTAL, PHYSICAL, EMOTIONAL AND SPIRITUAL NEEDS OF SENIORS AGE 62 AND ABOVE.(CONTINUED ON SCHEDULE O)AN INTEGRAL PART OF OUR FAITH-BASED MISSION IS OUR CHARITY CARE PROGRAMS WHICH PROVIDE FINANCIAL SUPPORT TO THOSE MEMBERS WHO HAVE OUTLIVED THEIR FINANCIAL RESOURCES THROUGH NO FAULT OF THEIR OWN, THUS AFFORDING THEM THE OPPORTUNITY TO REMAIN IN THE COMMUNITY REGARDLESS OF THEIR FINANCIAL STATUS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael A Palmieri President/ceo, Voting Ex-Officio | OfficerTrustee | 40 | $361,484 |
Fran F Stimpson Registered Nurse | 40 | $165,979 | |
Tracy J Judd Vp/cfo | Officer | 40 | $160,282 |
Scott Danico Director Of Ancillary Services | 40 | $147,990 | |
Rosario Bowen Registered Nurse | 40 | $146,516 | |
John Leahey Cio | 40 | $137,692 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Rj Kellogg Construction Inc Snow Removal, Hauling | 12/30/21 | $191,405 |
Mas Medical Staffing Nursing Staffing | 12/30/21 | $184,940 |
Mako Medical Laboratories Llc Covid Testing | 12/30/21 | $146,200 |
Isaish Gove Construction Inc Snow Removal, Hauling | 12/30/21 | $121,233 |
Lavallee Brensinger Pllc Architectural Services | 12/30/21 | $117,102 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $517,046 |
| Government grants | $673,027 |
| All other contributions, gifts, grants, and similar amounts not included above | $77,177 |
| Noncash contributions included in lines 1a–1f | $107,068 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,267,250 |
| Total Program Service Revenue | $24,642,636 |
| Investment income | $592,107 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,241,872 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $30,641,465 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,634 |
| 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. | $571,550 |
| Compensation of current officers, directors, key employees. | $531,006 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $12,490,468 |
| Pension plan accruals and contributions | $252,843 |
| Other employee benefits | $3,418,153 |
| Payroll taxes | $1,023,961 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $49,147 |
| Fees for services: Accounting | $55,590 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $120,677 |
| Fees for services: Other | $0 |
| Advertising and promotion | $96,705 |
| Office expenses | $1,007,213 |
| Information technology | $228,900 |
| Royalties | $0 |
| Occupancy | $1,533,661 |
| Travel | $1,009 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,257 |
| Interest | $1,497,257 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,752,688 |
| Insurance | $302,418 |
| All other expenses | $0 |
| Total functional expenses | $28,305,278 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,966 |
| Savings and temporary cash investments | $1,965,156 |
| Pledges and grants receivable | $5,000 |
| Accounts receivable, net | $574,603 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $419,598 |
| Prepaid expenses and deferred charges | $390,688 |
| Net Land, buildings, and equipment | $34,596,549 |
| Investments—publicly traded securities | $29,004,002 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $31,233,798 |
| Total assets | $98,198,360 |
| Accounts payable and accrued expenses | $2,582,613 |
| Grants payable | $0 |
| Deferred revenue | $12,087,155 |
| Tax-exempt bond liabilities | $33,478,945 |
| Escrow or custodial account liability | $11,892 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $3,696,853 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,467,521 |
| Total liabilities | $54,324,979 |
| Net assets without donor restrictions | $13,349,051 |
| Net assets with donor restrictions | $30,524,330 |
| 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 | $98,198,360 |
Endowment Analysis
| Beg. Balance | $25,757,557 |
| Earnings | $4,702,239 |
| Admin Expense | $94,792 |
| Net Contributions | $13,862 |
| Other Expense | $539,955 |
| Ending Balance | $29,838,911 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Newbridge On The Charles Inc Boston, MA | $302,355,064 | $54,466,975 |
Old Colony Elder Services Inc Brockton, MA | $21,708,151 | $57,499,133 |
The Riverwoods Company At Exeter New Hampshire Exeter, NH | $189,550,060 | $45,820,937 |
North Hill Needham Inc Needham, MA | $218,215,357 | $46,801,004 |
Carleton Willard Homes Inc Bedford, MA | $84,483,009 | $38,647,048 |
Symmes Life Care Inc Lexington, MA | $195,262,615 | $31,035,434 |
Wake Robin Corp Shelburne, VT | $137,626,146 | $30,368,225 |
United Church Of Christ Retirement Community Inc Concord, NH | $98,198,360 | $30,641,465 |
Edgewood Retirement Community Inc North Andover, MA | $138,118,772 | $28,111,868 |
Peterborough Retirement Community At Upland Farm Inc Peterborough, NH | $101,660,266 | $26,693,338 |
Orchard Cove Inc Canton, MA | $64,325,700 | $24,931,454 |
Salem Community Corp Worcester, MA | $69,833,808 | $20,062,867 |