Sarah A Reed Retirement Center
- Assets
- $40.6m
- Revenue
- $15.4m
- Investments
- $32.0k
- Employees
- 355
- Location
- Erie, PA
- Founding
- 07/1988
- Data as of
- 06/2021
- EIN
- 25-1215527
Organization Overview
Sarah A Reed Retirement Center, operating under the name Dba Sarah Reed Senior Living, is located in Erie, PA. The organization was established in 1988. 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 06/2021, Dba Sarah Reed Senior Living employed 355 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Dba Sarah Reed Senior Living 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 06/2021, Dba Sarah Reed Senior Living generated $15.4m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 0.8% each year. All expenses for the organization totaled $15.9m during the year ending 06/2021. While expenses have increased by 3.2% per year over the past 6 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
THE CENTER PROVIDES RESIDENTIAL SERVICES, HEALTH CARE, PHYSICAL THERAPY AND OTHER RELATED SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SARAH REED SENIOR LIVING (SRSL) IS A CONTINUING CARE RETIREMENT COMMUNITY WHICH PROVIDES QUALITY HOUSING, HEALTHCARE AND ASSOCIATED SERVICES PRIMARILY TO OLDER ADULTS THROUGH RESIDENTIAL LIVING AND PERSONAL CARE APARTMENTS, SHORT-TERM AND LONG-TERM NURSING FACILITY CARE, SKILLED NURSING AND REHABILITATION, MEMORY SUPPORT AND END OF LIFE CARE. WE PROVIDE PHYSICAL, SOCIAL, EMOTIONAL AND SPIRITUAL SUPPORT TO RESIDENTS AND FAMILY MEMBERS DURING A TIME OF TRANSITION FROM HOME TO OUR FACILITIES AND AT WHATEVER LEVEL OF CARE IS NEEDED. WE SEEK TO ENHANCE THE QUALITY OF LIFE OF OLDER ADULTS SO THEY MAY REACH THE HIGHEST PRACTICAL LEVEL OF INDEPENDENCE AND DIGNITY POSSIBLE IN A CARING AND COMPASSIONATE MANNER.SRSL PROMOTES HEALTH CARE CAREERS BY OFFERING NURSING AND SOCIAL WORK STUDENT INTERNS JOB SHADOWING OPPORTUNITIES, CAREER DAY SPEAKERS TO SCHOOLS, INFORMATIONAL TALKS TO CHURCHES AND SENIOR GROUPS IN THE COMMUNITY ABOUT RELEVANT TOPICS REGARDING AGING. WE SUPPORT MEDICAL MISSION ORGANIZATIONS AND LOCAL AGENCIES WHO FINANCIALLY SUPPORT NONPROFITS BY DONATING USED EQUIPMENT, CLOTHING, FURNISHINGS AND OTHER USABLE ITEMS AS AVAILABLE. WE ALSO SUPPORT OTHER NONPROFITS THROUGH SPONSORSHIPS OF COMMUNITY EVENTS IN SUPPORT OF OUR MISSION.WE ARE A COMMUNITY PARTNER BY EMPLOYING OVER 250 STAFF MEMBERS AND CARING ANNUALLY FOR OVER 200 MEMBERS OF THE COMMUNITY. WE HAVE GROWN AND EXPANDED OUR FACILITIES THROUGHOUT THE YEARS AS WELL AS OUR GROUNDS TO IMPROVE AND STABILIZE THE NEIGHBORHOOD IN WHICH WE RESIDE. WE HAVE ALSO PROVIDED FINANCIAL ASSISTANCE TO RESIDENTS IN OUR RESIDENTIAL AND PERSONAL CARE FACILITIES WHO MAY HAVE RUN OUT OF RESOURCES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ms Gale Magyar Chief Executive Officer | Officer | 40 | $190,331 |
Ms Sandra Ramdhanie Employee | 40 | $121,343 | |
Ms Karen Karle Employee | 40 | $108,351 | |
Ms Envera Mehinovic Employee | 40 | $108,257 | |
Mr David Gerber Jr Chief Financial Officer | Officer | 40 | $103,940 |
Ms Almedina Kalabic Employee | 40 | $102,138 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Alliance Rehab Hva Dba Symbria Rehab Contracted Therapy | 6/29/21 | $732,604 |
Family Center Pharmacy Llc Dba Pharmeri Contracted Pharmacy | 6/29/21 | $239,535 |
Medical Staffing Network Contracted Staffing | 6/29/21 | $113,140 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $4,885 |
| Related organizations | $0 |
| Government grants | $975,963 |
| All other contributions, gifts, grants, and similar amounts not included above | $33,467 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,014,315 |
| Total Program Service Revenue | $13,622,477 |
| Investment income | $306,080 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $473,998 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $15,416,870 |
| 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. | $318,583 |
| Compensation of current officers, directors, key employees. | $33,891 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,685,322 |
| Pension plan accruals and contributions | $116,777 |
| Other employee benefits | $741,407 |
| Payroll taxes | $753,884 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $49,182 |
| Fees for services: Accounting | $35,149 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $50,567 |
| Fees for services: Other | $1,060,427 |
| Advertising and promotion | $27,213 |
| Office expenses | $58,213 |
| Information technology | $1,253 |
| Royalties | $0 |
| Occupancy | $668,067 |
| Travel | $113 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $20,464 |
| Interest | $323,999 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,056,168 |
| Insurance | $108,289 |
| All other expenses | $640,304 |
| Total functional expenses | $15,878,066 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $550 |
| Savings and temporary cash investments | $3,726,657 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,771,712 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $132,114 |
| Prepaid expenses and deferred charges | $239,050 |
| Net Land, buildings, and equipment | $21,128,083 |
| Investments—publicly traded securities | $13,578,133 |
| Investments—other securities | $32,000 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $40,608,299 |
| Accounts payable and accrued expenses | $1,082,981 |
| Grants payable | $0 |
| Deferred revenue | $224,107 |
| Tax-exempt bond liabilities | $10,312,942 |
| 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 | $1,704,833 |
| Other liabilities | $510,382 |
| Total liabilities | $13,835,245 |
| Net assets without donor restrictions | $26,773,054 |
| Net assets with donor restrictions | $0 |
| 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 | $40,608,299 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Sarah A Reed Retirement Center has recieved totaling $49,534.
| Awarding Organization | Amount |
|---|---|
Sevin Frederic W Tuw Pittsburgh, PA PURPOSE: GENERAL SUPPORT | $38,534 |
Erie Community Foundation Erie, PA PURPOSE: VARIOUS PROJECTS | $10,290 |
American Express Foundation New York, NY PURPOSE: GENERAL SUPPORT | $480 |
American Express Foundation New York, NY PURPOSE: GENERAL SUPPORT | $180 |
American Express Foundation New York, NY PURPOSE: GENERAL SUPPORT | $50 |
Endowment Analysis
| Beg. Balance | $11,629,473 |
| Earnings | $2,578,627 |
| Admin Expense | $50,245 |
| Net Contributions | $45,610 |
| Other Expense | $763,879 |
| Ending Balance | $13,439,586 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
New York Armenian Home Inc Forest Hills, NY | $920,237 | $91,924 |
Messiah Home Mechanicsburg, PA | $178,549,269 | $51,412,413 |
Fellowship Senior Living Inc Basking Ridge, NJ | $187,391,253 | $47,338,549 |
Brethren Home Community New Oxford, PA | $203,107,620 | $47,521,434 |
Maple Knoll Communities Inc Cincinnati, OH | $123,123,326 | $44,611,272 |
The Mennonite Home Lancaster, PA | $196,485,253 | $48,109,566 |
The Village At Rockville Inc Frederick, MD | $175,992,547 | $34,000,172 |
Landis Homes Retirement Community Lititz, PA | $172,325,737 | $44,637,724 |
Asbury Inc Frederick, MD | $80,704,465 | $39,927,876 |
Otterbein Lebanon Lebanon, OH | $186,378,501 | $44,867,411 |
United Methodist Homes Of New Jersey Neptune, NJ | $66,409,487 | $39,329,714 |
Meadowood Corporation Worcester, PA | $160,208,688 | $42,941,264 |