Meadowood Corporation
- Assets
- $160.2m
- Revenue
- $42.9m
- Investments
- $0.0
- Employees
- 481
- Location
- Worcester, PA
- Founding
- 10/1984
- Data as of
- 12/2021
- EIN
- 22-2229486
Organization Overview
Meadowood Corporation is located in Worcester, PA. The organization was established in 1984. 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, Meadowood Corporation employed 481 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Meadowood Corporation 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, Meadowood Corporation generated $42.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.7% each year. All expenses for the organization totaled $40.8m during the year ending 12/2021. While expenses have increased by 5.7% 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
TO PROVIDE THE HIGHEST QUALITY OF LIFE FOR ALL WHO EXPERIENCE THE MEADOWOOD COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO OPERATE A CONTINUING CARE RETIREMENT COMMUNITY, WHICH PROVIDES HOUSING, HEALTHCARE, AND OTHER RELATED SERVICES TO SENIORS THROUGH THE OPERATION OF A 59-BED NURSING FACILITY, A 56-BED PERSONAL CARE FACILITY, 298 RESIDENTIAL APARTMENTS, 42 CARRIAGE HOMES AND A HOME HEALTH AGENCY. THE CORPORATION'S COMMUNITY IS LOCATED IN WORCESTER TOWNSHIP, PA. TOTAL RESIDENT DAYS AT THE FACILITY WERE AS FOLLOWS: SKILLED NURSING DAYS OF 18,076, ASSISTED LIVING DAYS OF 16,322 AND INDEPENDENT LIVING DAYS OF 139,212. ALSO, THE HOME HEALTH AGENCY PERFORMED 1172 VISITS DURING 2021. HEALTHCARE SERVICE - PROVIDE RESIDENTS WITH PHYSICIAN CARE, PHYSICAL THERAPY, SPEECH THERAPY, OCCUPATIONAL THERAPY, SKILLED NURSING, PERSONAL CARE, ACTIVITIES, HOME HEALTH, AND OTHER RELATED SERVICES. MAINTENANCE AND OTHER SERVICES - PROVIDE GENERAL MAINTENANCE AND SERVICE REPAIRS TO CENTER, INCLUDING DEPRECIATION AND INTEREST EXPENSES. PROVIDE SECURITY, TRANSPORTATION, AND OTHER SERVICES AS NEEDED. DINING SERVICES - PROVIDE DAILY MEALS TO RESIDENTS, PROVIDE FOR SPECIAL DIETARY NEEDS OF RESIDENTS AND SPECIAL FUNCTIONS REQUESTED BY RESIDENTS. PROVIDE COFFEE SHOP FOR RESIDENTS, STAFF AND GUESTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul Nordeman President/ceo | OfficerTrustee | 40 | $403,408 |
Steven Wisniewski VP Of Finance/cfo | Officer | 40 | $217,961 |
Regina Farrell VP Of Health Center | 40 | $194,589 | |
Nick Ball Sales Representative | 40 | $164,863 | |
Barbara Fritzinger VP Of Human Resources | 40 | $159,247 | |
Marlon Back VP Of Maintenance | 40 | $157,761 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mossrehab Therapy Services | 12/30/21 | $710,563 |
Unidine Corporation Dining Services | 12/30/21 | $603,903 |
E3 It Consulting | 12/30/21 | $526,321 |
Williams Electric Electrician | 12/30/21 | $236,000 |
Varsity Marketing Llc Marketing | 12/30/21 | $397,363 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,403,714 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,108,399 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,512,113 |
| Total Program Service Revenue | $34,438,289 |
| Investment income | $500,709 |
| Tax Exempt Bond Proceeds | $4,507 |
| Royalties | $0 |
| Net Rental Income | $12,504 |
| Net Gain/Loss on Asset Sales | $473,142 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $42,941,264 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $113,613 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $792,780 |
| Compensation of current officers, directors, key employees. | $792,780 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $12,751,313 |
| Pension plan accruals and contributions | $318,788 |
| Other employee benefits | $1,325,338 |
| Payroll taxes | $932,617 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $44,992 |
| Fees for services: Accounting | $79,700 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $120,184 |
| Fees for services: Other | $1,660,470 |
| Advertising and promotion | $483,870 |
| Office expenses | $4,053,521 |
| Information technology | $2,495 |
| Royalties | $0 |
| Occupancy | $2,487,074 |
| Travel | $53,140 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $32,032 |
| Interest | $3,210,773 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $10,268,487 |
| Insurance | $392,679 |
| All other expenses | $138,802 |
| Total functional expenses | $40,777,022 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,980,415 |
| Savings and temporary cash investments | $6,682,871 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,440,763 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $245,924 |
| Prepaid expenses and deferred charges | $1,029,329 |
| Net Land, buildings, and equipment | $100,253,403 |
| Investments—publicly traded securities | $45,575,983 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $160,208,688 |
| Accounts payable and accrued expenses | $5,474,194 |
| Grants payable | $0 |
| Deferred revenue | $65,654,414 |
| Tax-exempt bond liabilities | $72,900,412 |
| 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 | $437,943 |
| Other liabilities | $26,189,694 |
| Total liabilities | $170,656,657 |
| Net assets without donor restrictions | -$14,377,357 |
| Net assets with donor restrictions | $3,929,388 |
| 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 | $160,208,688 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Meadowood Corporation has recieved totaling $187,455.
| Awarding Organization | Amount |
|---|---|
Meadowood Residents Association Inc Worcester, PA PURPOSE: HOLIDAY GIVING | $152,855 |
Meadowood Residents Association Inc Worcester, PA PURPOSE: BENEVOLENT FUND | $20,000 |
Meadowood Residents Association Inc Worcester, PA PURPOSE: STUDENT SCHOLARSHIPS | $13,850 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $750 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Willow Valley Communities Lancaster, PA | $552,338,395 | $126,609,439 |
Isabella Geriatric Center Inc Brooklyn, NY | $130,669,713 | $93,043,151 |
Oak Crest Village Inc Parkville, MD | $495,556,334 | $90,971,954 |
United Church Homes Inc Marion, OH | $230,951,491 | $117,776,158 |
Menorah Park Center For Senior Living Beachwood, OH | $96,877,128 | $72,312,185 |
Seabrook Village Inc Tinton Falls, NJ | $317,428,948 | $63,950,386 |
Spiritrust Lutheran York, PA | $151,346,375 | $71,838,005 |
Otterbein Homes Lebanon, OH | $197,247,651 | $73,479,652 |
Humangood Pennsylvania Lafayette Hill, PA | $322,351,436 | $66,729,303 |
Albright Care Services Frederick, MD | $96,340,327 | $64,491,895 |
Menno-Haven Inc Chambersburg, PA | $224,712,119 | $60,604,024 |
Kendal-Crosslands Communities Kennett Square, PA | $254,475,918 | $64,274,930 |