Springpoint Senior Living Inc
- Assets
- $788.2m
- Revenue
- $202.7m
- Investments
- $499.5k
- Employees
- 2,908
- Location
- Wall, NJ
- Founding
- 01/1997
- Data as of
- 12/2019
- EIN
- 22-3498690
Organization Overview
Springpoint Senior Living Inc is located in Wall, NJ. 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 12/2019, Springpoint Senior Living Inc employed 2,908 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes.
For the year ending 12/2019, Springpoint Senior Living Inc generated $202.7m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 7.2% each year. All expenses for the organization totaled $214.8m during the year ending 12/2019. While expenses have increased by 7.8% per year over the past 5 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
2019
Describe the Organization's Mission:
Part 3 - Line 1
TO INSPIRE OUR FAMILY WITH ENDLESS OPPORTUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EXPENSES INCURRED IN PROVIDING SENIOR HOUSING AND SERVICES, AFFORDABLE HOUSING, ASSISTED LIVING, SKILLED NURSING CARE, REHABILITATION, AND ALZHEIMER'S CARE. PLEASE REFER TO SCHEDULE O FOR THE ORGANIZATION'S COMMUNITY BENEFIT STATEMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Oakes Sr. VP Foundation | Officer | 50 | $264,615 |
Anthony Argondizza President (ex-Officio) - CEO | OfficerTrustee | 50 | $0 |
Vincent A Myers Chair - Trustee | OfficerTrustee | 1 | $0 |
Maureen A Schneider Vice Chair - Trustee | OfficerTrustee | 1 | $0 |
Garrett I Midgett Senior Vp/cfo, Treasurer | Officer | 50 | $0 |
Maureen E Cafferty ESQ Sr. VP / General Counsel, Secretary | Officer | 50 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Yes We Do Llc Construction | 12/30/19 | $2,839,333 |
Genesis Eldercare Rehabilitation Service Medical Services | 12/30/19 | $2,722,653 |
Eric Weinrich Dba First Class Plumbing A Plumbing | 12/30/19 | $2,279,646 |
C&c Construction Mgmt Inc Construction | 12/30/19 | $6,808,570 |
Ac Drywall And Painting Llc Dba Ac Cons Construction | 12/30/19 | $2,250,688 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $244,977 |
| Related organizations | $0 |
| Government grants | $5,041,817 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,339,023 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,625,817 |
| Total Program Service Revenue | $183,376,368 |
| Investment income | $3,547,160 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $222,016 |
| Net Gain/Loss on Asset Sales | $7,561,526 |
| Net Income from Fundraising Events | -$63,887 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $202,721,658 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $439,862 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $294,901 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $70,477,012 |
| Pension plan accruals and contributions | $1,475,529 |
| Other employee benefits | $12,936,526 |
| Payroll taxes | $5,631,296 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $886,001 |
| Fees for services: Accounting | $660,455 |
| Fees for services: Lobbying | $149,026 |
| Fees for services: Fundraising | $372 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $19,681,369 |
| Advertising and promotion | $3,294,341 |
| Office expenses | $4,469,005 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $17,402,855 |
| Travel | $204,657 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $265,851 |
| Interest | $9,134,599 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $33,570,236 |
| Insurance | $2,779,952 |
| All other expenses | $5,628,936 |
| Total functional expenses | $214,754,426 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $15,920 |
| Savings and temporary cash investments | $39,602,671 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $16,513,304 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $7,387,151 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $4,746,351 |
| Net Land, buildings, and equipment | $479,965,089 |
| Investments—publicly traded securities | $146,810,868 |
| Investments—other securities | $499,465 |
| Investments—program-related | $0 |
| Intangible assets | $83,619,173 |
| Other assets | $9,066,494 |
| Total assets | $788,226,486 |
| Accounts payable and accrued expenses | $13,776,139 |
| Grants payable | $0 |
| Deferred revenue | $104,101,344 |
| Tax-exempt bond liabilities | $175,493,662 |
| Escrow or custodial account liability | $19,308 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $97,576,472 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $466,523,013 |
| Total liabilities | $857,489,938 |
| Net assets without donor restrictions | -$80,803,977 |
| Net assets with donor restrictions | $11,540,525 |
| 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 | $788,226,486 |
Grants Awarded
Over the last fiscal year, Springpoint Senior Living Inc has awarded $20,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
TWO RIVER THEATER PURPOSE: GENERAL PURPOSE | $15,000 |
Hamilton, NJ PURPOSE: GENERAL PURPOSE | $5,000 |
Endowment Analysis
| Beg. Balance | $13,020,677 |
| Earnings | $1,538,934 |
| Net Contributions | $1,637,791 |
| Other Expense | $4,656,877 |
| Ending Balance | $11,540,525 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Acts Retirement-Life Communities Inc Fort Washington, PA | $1,660,938,549 | $446,249,117 |
Springpoint Senior Living Inc Wall, NJ | $788,226,486 | $202,721,658 |
Isabella Geriatric Center Inc Brooklyn, NY | $153,212,824 | $111,998,921 |
Willow Valley Communities Lancaster, PA | $506,529,308 | $113,600,002 |
Humangood Pennsylvania Lafayette Hill, PA | $243,746,432 | $75,751,425 |
Spiritrust Lutheran York, PA | $160,545,487 | $68,085,658 |
Seabrook Village Inc Tinton Falls, NJ | $309,808,907 | $67,322,185 |
Kendal-Crosslands Communities Kennett Square, PA | $231,865,779 | $60,239,273 |
Luthercare Lititz, PA | $106,530,651 | $51,782,237 |
Menno-Haven Inc Chambersburg, PA | $230,843,715 | $53,889,657 |
Inglis House Philadelphia, PA | $67,456,945 | $43,396,095 |
Trustees Of The Masonic Hall And Asylum Fund New York, NY | $332,753,977 | $60,611,137 |