The Riverwoods Company At Exeter New Hampshire
- Assets
- $189.6m
- Revenue
- $45.8m
- Investments
- $0.0
- Employees
- 606
- Location
- Exeter, NH
- Founding
- 03/1997
- Data as of
- 06/2022
- EIN
- 02-0400703
Organization Overview
The Riverwoods Company At Exeter New Hampshire is located in Exeter, NH. The organization was established in 1997. 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 06/2022, Riverwoods Company At Exeter New Hampshire employed 606 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Riverwoods Company At Exeter New Hampshire 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 06/2022, Riverwoods Company At Exeter New Hampshire generated $45.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.6% each year. All expenses for the organization totaled $45.5m during the year ending 06/2022. While expenses have increased by 2.9% 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
TO ESTABLISH, OWN, AND MAINTAIN CHARITABLE CONTINUING CARE RETIREMENT COMMUNITIES FOR THE ELDERLY
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE RIVERWOODS COMPANY AT EXETER NEW HAMPSHIRE (RWE) HAS ONE PRIMARY PROGRAM SERVICE, TO ESTABLISH, OWN, AND MAINTAIN A CONTINUING CARE RETIREMENT COMMUNITY WHICH PROVIDES HOUSING, HEALTH CARE SERVICES, FOOD SERVICES, SECURITY, AND OTHER ANCILLARY SERVICES TO ELDERY PERSONS. ON JUNE 30, 2022 THE COMMUNITY HOUSED APPROXIMATELY 499 RESIDENTS IN INDEPENDENT APARTMENTS AND 116 RESIDENTS IN THE HEALTH CARE CENTERS. OVER THE COURSE OF THE YEAR THE HEALTH CARE CENTERS SERVED APPROXIMATELY 176 RESIDENTS ON A PERMANENT, TEMPORARY, OR PER DIEM BASIS AT A SUBSTANTIALLY DISCOUNTED RATE. THE "CONTRACTUAL ALLOWANCE" (I.E. WRITE-OFF) RELATED TO THE CARE PROVIDED FOR LIFECARE RESIDENTS WAS IN EXCESS OF $12,752,500 FOR THE FISCAL YEAR ENDED JUNE 30, 2022 (FY22). CONTINUED ON SCHEDULE O. THIS IS AN AVERAGE DISCOUNT OF 73% VERSUS THE STANDARD MONTHLY PRIVATE PAY RATE IN AREA NURSING HOMES AND ASSISTED LIVING FACILITIES. RWE ALSO PROVIDED BENEVOLENCE ASSISTANCE FOR ITS RESIDENTS WHO, THROUGH NO FAULT OF THEIR OWN, HAVE EXHAUSTED THEIR FINANCIAL RESOURCES. FOR FY22, RWE PROVIDED FINANCIAL ASSISTANCE TO A TOTAL OF FIVE RESIDENTS IN THE AMOUNT OF $231,570.COVID-19 HAD A SIGNIFICANT IMPACT ON BUSINESS OPERATIONS IN FY22. RWE RECEIVED $666,795 OF GRANT MONEY WHICH HELPED OFFSET THE INCREMENTAL COST INCURRED DUE TO THE PANDEMIC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Deb Riddell Executive Director | Officer | 40 | $262,155 |
Mary Flanagan Nurse Practitioner | 40 | $160,323 | |
Kathleen King Dir Of Culinary Ops- Left June 2022 | 40 | $151,796 | |
Suzanne Ciufetti Director Of Nursing | 40 | $140,564 | |
Lisa Clark Sales Manager | 40 | $139,955 | |
Diane Smith Living Counselor | 40 | $137,754 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Rdg Planning & Design Contractor | 6/29/22 | $725,233 |
The Riverwoods Group Management And It Services | 6/29/22 | $3,218,568 |
Gemini Electric Contractor | 6/29/22 | $1,505,465 |
Chapman Constructiondesign Company Construction/design Services | 6/29/22 | $4,755,516 |
Morris Pigeon Contractor | 6/29/22 | $1,833,652 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $666,795 |
| All other contributions, gifts, grants, and similar amounts not included above | $439,905 |
| Noncash contributions included in lines 1a–1f | $3,839 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,106,700 |
| Total Program Service Revenue | $38,169,361 |
| Investment income | $1,814,742 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $60,000 |
| Net Gain/Loss on Asset Sales | $3,984,953 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $45,820,937 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $292,808 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $256,297 |
| Compensation of current officers, directors, key employees. | $256,297 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $16,743,800 |
| Pension plan accruals and contributions | $212,764 |
| Other employee benefits | $2,220,827 |
| Payroll taxes | $1,213,028 |
| Fees for services: Management | $1,285,092 |
| Fees for services: Legal | $61,548 |
| Fees for services: Accounting | $67,162 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $260,161 |
| Fees for services: Other | $2,773,095 |
| Advertising and promotion | $227,471 |
| Office expenses | $1,104,752 |
| Information technology | $1,375,631 |
| Royalties | $0 |
| Occupancy | $4,334,100 |
| Travel | $17,286 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,456,404 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,399,284 |
| Insurance | $648,954 |
| All other expenses | $178,575 |
| Total functional expenses | $45,475,251 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $968,623 |
| Savings and temporary cash investments | $13,699,075 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,312,643 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $244,044 |
| Prepaid expenses and deferred charges | $812,523 |
| Net Land, buildings, and equipment | $110,279,851 |
| Investments—publicly traded securities | $62,473,656 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | -$240,355 |
| Total assets | $189,550,060 |
| Accounts payable and accrued expenses | $3,521,161 |
| Grants payable | $0 |
| Deferred revenue | $23,445,564 |
| Tax-exempt bond liabilities | $48,560,000 |
| 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 | $0 |
| Other liabilities | $198,187,811 |
| Total liabilities | $273,714,536 |
| Net assets without donor restrictions | -$85,717,989 |
| Net assets with donor restrictions | $1,553,513 |
| 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 | $189,550,060 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that The Riverwoods Company At Exeter New Hampshire has recieved totaling $23,815.
| Awarding Organization | Amount |
|---|---|
Fidelity Investments Charitable Gift Fund Boston, MA PURPOSE: FOR GRANT RECIPIENT'S EXEMPT PURPOSES | $23,815 |
Endowment Analysis
| Beg. Balance | $883,731 |
| Earnings | -$102,775 |
| Admin Expense | $7,259 |
| Net Contributions | $2,598 |
| Ending Balance | $776,295 |
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 |