Kendal At Hanover I
- Assets
- $202.8m
- Revenue
- $31.5m
- Investments
- $0.0
- Employees
- 363
- Location
- Hanover, NH
- Founding
- 10/2000
- Data as of
- 12/2021
- EIN
- 02-0519490
Organization Overview
Kendal At Hanover I is located in Hanover, NH. The organization was established in 2000. 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 12/2021, Kendal At Hanover I employed 363 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kendal At Hanover I 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, Kendal At Hanover I generated $31.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.6% each year. All expenses for the organization totaled $29.9m during the year ending 12/2021. While expenses have increased by 2.6% 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
KENDAL AT HANOVER IS A NOT-FOR-PROFIT CONTINUING CARE RETIREMENT COMMUNITY CHARACTERIZED BY MUTUAL RESPECT, INTEGRITY AND A CONCERN FOR EACH OTHER'S WELFARE THAT FOSTERS THE INDEPENDENCE, VITALITY, HEALTH AND SECURITY OF OLDER PERSONS AND IN WHICH RESIDENTS AND STAFF MAY EXERCISE THEIR TALENTS IN A SUPPORTIVE ENVIRONMENT. SPECIFICALLY, OUR MISSION STATES: "TOGETHER, TRANSFORMING THE EXPERIENCE OF AGING."
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATION OF A CONTINUING CARE RETIREMENT COMMUNITY FOR 394 OLDER ADULTS CONSISTING OF 250 INDEPENDENT LIVING RESIDENCES, A COMMUNITY CENTER, A HEALTH CENTER AND 107 LICENSED ASSISTED LIVING BEDS. ON-SITE CLINIC PROVIDED PRIMARY CARE TO 394 OF OUR RESIDENTS AND THE HEALTH CENTER PROVIDED 24,377 DAYS OF CARE AT VARIOUS LEVELS. COMPLETED THE THIRD FULL YEAR OF A MULTI-YEAR HEALTH CENTER RENOVATION AND ADDITION THAT WILL SIGNIFICANTLY ENHANCE THE ENVIRONMENT IN WHICH CARE IS PROVIDED. MAINTAINED AN INDEPENDENT LIVING OCCUPANCY RATE OF 95.05%.
EDUCATION REIMBURSEMENT GIVEN TO 30 EMPLOYEES OVER THE YEAR FOR CONTINUING EDUCATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Beth Vettori CEO | Officer | 50 | $245,497 |
Brent B Edgerton Chief Financial Officer | Officer | 50 | $203,603 |
David Urso Chief Operating Officer | 50 | $145,023 | |
Jeffrey Roosevelt Director Of Public Relations & Marketing | 50 | $123,122 | |
Rebecca Daniels Assisted Living Administrator | 50 | $113,165 | |
David Watts Human Resources Director | 50 | $112,478 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Shaker Hill Granite Counter Top & Construction | 12/30/21 | $460,724 |
Engelberth Construction Inc Construction | 12/30/21 | $5,877,206 |
Interstate Electrical Services Electrical | 12/30/21 | $253,201 |
Dartmouth Hitchcock Clinic Services | 12/30/21 | $347,872 |
Alliance Mechanical Mechanical | 12/30/21 | $304,507 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,154,520 |
| All other contributions, gifts, grants, and similar amounts not included above | $565,042 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,719,562 |
| Total Program Service Revenue | $28,468,670 |
| Investment income | $928,123 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $58,848 |
| Net Gain/Loss on Asset Sales | -$1,292,629 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $31,489,711 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $60,025 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $451,209 |
| Compensation of current officers, directors, key employees. | $451,209 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $11,146,722 |
| Pension plan accruals and contributions | $709,842 |
| Other employee benefits | $1,856,924 |
| Payroll taxes | $799,484 |
| Fees for services: Management | $82,974 |
| Fees for services: Legal | $23,197 |
| Fees for services: Accounting | $65,386 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $9,860 |
| Office expenses | $592,923 |
| Information technology | $419,222 |
| Royalties | $0 |
| Occupancy | $3,986,788 |
| Travel | $40,324 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $66,504 |
| Interest | $0 |
| Payments to affiliates | $835,944 |
| Depreciation, depletion, and amortization | $5,237,685 |
| Insurance | $277,158 |
| All other expenses | $0 |
| Total functional expenses | $29,908,755 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,639 |
| Savings and temporary cash investments | $9,021,656 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,553,171 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $319,165 |
| Prepaid expenses and deferred charges | $355,516 |
| Net Land, buildings, and equipment | $116,188,070 |
| Investments—publicly traded securities | $74,412,060 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $970,000 |
| Total assets | $202,821,277 |
| Accounts payable and accrued expenses | $5,686,715 |
| Grants payable | $0 |
| Deferred revenue | $71,084,860 |
| Tax-exempt bond liabilities | $58,735,537 |
| 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 | $3,205,467 |
| Total liabilities | $138,712,579 |
| Net assets without donor restrictions | $51,074,108 |
| Net assets with donor restrictions | $13,034,590 |
| 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 | $202,821,277 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Kendal At Hanover I has recieved totaling $38,400.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: HUMAN SERVICES | $20,900 |
Amg Charitable Gift Foundation Greenwood Village, CO PURPOSE: PUBLIC ASSISTANCE | $10,000 |
New Hampshire Charitable Foundation Concord, NH PURPOSE: For the staff vacation fund and annual charity appeal | $6,000 |
Crowell Family Foundation Tr Boston, MA PURPOSE: GENERAL OPERATING FUND | $1,500 |
Endowment Analysis
| Beg. Balance | $1,617,192 |
| Net Contributions | $39,066 |
| Ending Balance | $1,656,258 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Brooksby Village Inc Peabody, MA | $455,308,698 | $77,450,637 |
Linden Ponds Inc Hingham, MA | $366,102,829 | $68,847,923 |
Kendal At Hanover I Hanover, NH | $202,821,277 | $31,489,711 |
Maine Life Care Retirement Community Inc Scarborough, ME | $140,484,243 | $23,531,278 |
Lasell Village Inc Auburndale, MA | $102,869,314 | $21,782,150 |
Riverwoods Durham Durham, NH | $126,625,985 | $17,724,252 |
Christopher House Inc Worcester, MA | $11,659,464 | $17,133,392 |
Ascentria Care Alliance Inc West Brookfield, MA | $28,862,438 | $18,232,969 |
Overlook Communities Inc Charlton, MA | $31,731,503 | $14,000,337 |
Alliance Health Of Massachusetts Inc Southborough, MA | $12,196,543 | $13,916,904 |
Metro Health Foundation Of New Hampshire Inc Meredith, NH | $23,007,411 | $13,396,555 |
Cathedral Square Corporation South Burlington, VT | $25,788,244 | $15,524,775 |