Westminster-Canterbury Corporation

Organization Overview

Westminster-Canterbury Corporation is located in Richmond, VA. The organization was established in 1972. 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 09/2019, Westminster-Canterbury Corporation employed 706 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations.

For the year ending 09/2019, Westminster-Canterbury Corporation generated $75.7m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 4.2% each year. All expenses for the organization totaled $65.8m during the year ending 09/2019. While expenses have increased by 1.9% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2019

Describe the Organization's Mission:

Part 3 - Line 1

AS A MINISTRY OF THE EPISCOPAL AND PRESBYTERIAN CHURCHES, WESTMINSTER CANTERBURY PROVIDES AN INSURANCE PRODUCT OFFERING INDEPENDENT LIVING; MEMORY SUPPORT; ASSISTED LIVING; AND INTERMEDIATE AND SKILLED NURSING BEDS, ALL FOR PERSONS AGES 62 AND OLDER. FINANCIAL AID IS AVAILABLE TO THOSE WHOSE FINANCIAL RESOURCES ARE NOT SUFFICIENT TO COVER ENTRANCE FEE, MONTHLY FEE OR BOTH.

Describe the Organization's Program Activity:

Part 3 - Line 4a

AS A MINISTRY OF THE EPISCOPAL AND PRESBYTERIAN CHURCHES, WESTMINSTER CANTERBURY PROVIDES 509 RESIDENCES FOR INDEPENDENT LIVING,; 72 APARTMENTS FOR THOSE WITH COGNITIVE DECLINE, 97 APARTMENTS FOR ASSISTED LIVING; AND 158 INTERMEDIATE AND SKILLED NURSING BEDS, ALL FOR PERSONS AGED 62 AND OLDER. IN ADDITION, WESTMINSTER CANTERBURY PROVIDES RESIDENTS WITH THE OPPORTUNITIES FOR SOCIALIZATION, INTELLECTUAL STIMULATION, ENTERTAINMENT, RECREATION, PHYSICAL CARE AND SPIRITUAL ENRICHMENT. SPECIFIED SERVICES ARE PROVIDED UNDER THE CONTINUING CARE CONTRACT (RESIDENCE AND CARE AGREEMENT). WESTMINSTER CANTERBURY'S CCRC PRODUCTS ARE REGISTERED WITH THE COMMONWEALTH OF VIRGINIA, BUREAU OF INSURANCE. OTHER SERVICE AND FACILITIES MADE AVAILABLE ARE FOR AN EXTRA CHARGE I.E. MEALS PURCHASED INDIVIDUALLY OR AS PART OF AN OPTION PLAN, DRUGS, BEAUTY SHOP, INTERNET ETC. FINANCIAL AID IS AVAILABLE TO THOSE WHOSE FINANCIAL RESOURCES ARE NOT SUFFICIENT TO COVER ENTRANCE FEE, MONTHLY FEE OR BOTH. ALL FINANCIAL INFORMATION PROVIDED BY THE PROSPECTIVE RESIDENTS IS ANALYZED USING A SOFTWARE PROGRAM CALLED FINAID. THIS PROGRAM USES ACTUARIAL TABLES TO PROJECT HOW MUCH, IF ANY, FINANCIAL ASSISTANCE MAY BE NEEDED BY EACH PROSPECTIVE RESIDENT. ON AVERAGE WESTMINSTER CANTERBURY ASSISTS 110 RESIDENTS WITH FINANCIAL AID DURING THE YEAR.


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Financial Statements

Statement of Revenue
Total Revenue from Contributions, Gifts, Grants & Similar$2,533,705
Investment income $1,496,222
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $4,193,149
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $75,738,304

Grants Recieved

Over the last fiscal year, we have identified 2 grants that Westminster-Canterbury Corporation has recieved totaling $2,827,419.

Awarding OrganizationAmount
Westminster-Canterbury Foundation

Richmond, VA

PURPOSE: FINANCIAL ASSISTANCE FOR RESIDENTS (NEED-BASED) AND GENERAL SUPPORT

$2,801,479
National Philanthropic Tr

Jenkintown, PA

PURPOSE: HUMAN SERVICES

$25,940
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$15,771,362
Earnings$299,057
Net Contributions$1,979,890
Grants$2,657,168
Ending Balance$15,393,141

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