Cloverwood Senior Living Inc
- Assets
- $44.1m
- Revenue
- $14.1m
- Investments
- $0.0
- Employees
- 242
- Location
- Pittsford, NY
- Founding
- 04/2001
- Data as of
- 12/2022
- EIN
- 16-1597251
Organization Overview
Cloverwood Senior Living Inc is located in Pittsford, NY. The organization was established in 2001. 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 12/2022, Cloverwood Senior Living Inc employed 242 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cloverwood Senior 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 12/2022, Cloverwood Senior Living Inc generated $14.1m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.5% each year. All expenses for the organization totaled $13.3m during the year ending 12/2022. While expenses have increased by 1.9% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
CLOVERWOOD IS AN EXCEPTIONAL SENIOR LIVING COMMUNITY THAT ENABLES RESIDENTS TO ENJOY AN ACTIVE AND INDEPENDENT LIFESTYLE WITH COMPANIONSHIP AND PEACE OF MIND IN A STIMULATING AND SECURE ENVIRONMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATED A SENIOR LIVING COMMUNITY CONSISTING OF 150 INDEPENDENT LIVING UNITS (64 PATIO HOMES AND 86 APARTMENTS) AND 57 ENRICHED LIVING UNITS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Edward Carman IV Director | Trustee | 1 | $0 |
Tracy Slaven Vice Chairperson | Trustee | 1 | $0 |
Jean Maess Chairperson | OfficerTrustee | 1 | $0 |
Robert Parker Secretary | OfficerTrustee | 1 | $0 |
Stanley Peck Immediate Past Chairperson | OfficerTrustee | 1 | $0 |
Kevin Phelps Treasurer | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Lecesse Construction Services Construction Services | 12/30/17 | $227,821 |
North Coast Painting Painting | 12/30/17 | $226,096 |
Lakeview Lawn And Landscaping Landscaping | 12/30/17 | $153,443 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $345,855 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $345,855 |
| Total Program Service Revenue | $12,675,139 |
| Investment income | $404,263 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $249,750 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $9,766 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $14,128,008 |
| 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. | $273,780 |
| Compensation of current officers, directors, key employees. | $273,780 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,976,939 |
| Pension plan accruals and contributions | $211,611 |
| Other employee benefits | $461,618 |
| Payroll taxes | $391,652 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $18,765 |
| Fees for services: Accounting | $32,255 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $72,803 |
| Fees for services: Other | $355,986 |
| Advertising and promotion | $397,851 |
| Office expenses | $9,498 |
| Information technology | $269,962 |
| Royalties | $0 |
| Occupancy | $1,689,961 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $291 |
| Interest | $697,370 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,951,285 |
| Insurance | $0 |
| All other expenses | $64,451 |
| Total functional expenses | $13,275,951 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,355,479 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $365,100 |
| Accounts receivable, net | $154,558 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $630,312 |
| Net Land, buildings, and equipment | $28,713,202 |
| Investments—publicly traded securities | $12,088,167 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $745,305 |
| Total assets | $44,052,123 |
| Accounts payable and accrued expenses | $1,315,900 |
| Grants payable | $0 |
| Deferred revenue | $45,537,258 |
| Tax-exempt bond liabilities | $17,585,926 |
| 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 | $803,240 |
| Total liabilities | $65,242,324 |
| Net assets without donor restrictions | -$21,754,381 |
| Net assets with donor restrictions | $564,180 |
| 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 | $44,052,123 |