Samaritan Housing Foundation Inc
- Assets
- $309.4m
- Revenue
- $14.7m
- Investments
- $0.0
- Employees
- 252
- Location
- Cary, NC
- Founding
- 06/1999
- Data as of
- 12/2021
- EIN
- 31-1644805
Organization Overview
Samaritan Housing Foundation Inc is located in Cary, NC. The organization was established in 1999. 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, Samaritan Housing Foundation Inc employed 252 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Samaritan Housing Foundation 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 12/2021, Samaritan Housing Foundation Inc generated $14.7m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 12.9% each year . All expenses for the organization totaled $19.0m during the year ending 12/2021. 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 COMMUNITY IS ESTABLISHED TO PROVIDE AN ENHANCED RETIREMENT ENVIRONMENT FEATURING FULL- SERVICE LIFE CARE FOR RESIDENTS OF SIXTY-TWO PLUS (62+) YEARS OF AGE, WHILE EMPHASIZING AN ACTIVE LIFESTYLE, INDIVIDUAL INDEPENDENCE, PERSONAL DIGNITY, AND FAMILY ESTATE PRESERVATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEARSTONE RETIREMENT COMMUNITY IS MADE UP OF 169 LIVING UNITS FOR 245 PEOPLE AND 39 BEDS OF NURSING CARE, 14 FOR ASSISTED LIVING AND 25 FOR NURSING CARE. SERVICES SUCH AS MEALS, HOUSEKEEPING, MAINTENANCE, ACTIVITIES, TRANSPORTATION, AND NURSING SERVICES ARE AVAILABLE. WE OFFER PHYSICAL, OCCUPATIONAL AND SPEECH THERAPY FOR THOSE RESIDENTS WHO CAN BENEFIT FROM THESE PROGRAMS, OFFERING OVER 11,000 SESSIONS OF THERAPY IN 2021.WE HAVE A FOOD SERVICE PROGRAM WHICH PROVIDES MEALS TO RESIDENTS, THEIR GUESTS AND OUR STAFF. IN 2021, WE SERVED 85,000 MEALS.ACTIVITIES ARE OFFERED IN EACH LEVEL OF CARE DEPENDING ON THE LEVEL OF ACTIVITIES SUITABLE FOR THAT LEVEL OF CARE, FROM GOING OUT TO PUBLIC PROGRAMS SUCH AS THEATER PRODUCTIONS TO SYMPHONIES, OR HAVING IN-HOUSE EVENTS COMPRISED OF THEME PARTIES AND GAMES. OUR NURSING SERVICES COVER THE ENTIRE CAMPUS AND RANGE FROM EMERGENCY NURSING SERVICES TO 24-HOUR NURSING SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stanley G Brading President | OfficerTrustee | 30 | $704,600 |
W Derrick Moore Executive Director | Officer | 40 | $160,104 |
Allie Ligay Director Of Marketing | 40 | $141,110 | |
Mary P Clements Chief Financial Officer | 40 | $128,682 | |
Charles Norman Director | Trustee | 2 | $7,500 |
Marc Hewitt Director | Trustee | 2 | $7,500 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
K&l Gates Llp Legal | 12/30/21 | $154,821 |
Stewart & Conners Architects Pllc Architects | 12/30/21 | $1,045,843 |
Tri South Mechanical Llc Hvac | 12/30/21 | $287,120 |
Dixon Hughes Goodman Accounting/consulting | 12/30/21 | $217,380 |
Jof Painting Painting | 12/30/21 | $150,055 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $757,900 |
| All other contributions, gifts, grants, and similar amounts not included above | $176,423 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $934,323 |
| Total Program Service Revenue | $14,226,437 |
| Investment income | $150,289 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$566,431 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $14,744,618 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $710,000 |
| 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. | $971,011 |
| Compensation of current officers, directors, key employees. | $971,011 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,029,045 |
| Pension plan accruals and contributions | $23,814 |
| Other employee benefits | $497,743 |
| Payroll taxes | $350,137 |
| Fees for services: Management | $459,270 |
| Fees for services: Legal | $92,963 |
| Fees for services: Accounting | $84,090 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,268,325 |
| Advertising and promotion | $376,818 |
| Office expenses | $991,986 |
| Information technology | $200,540 |
| Royalties | $0 |
| Occupancy | $656,070 |
| Travel | $27,562 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $20,455 |
| Interest | $4,598,587 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,587,102 |
| Insurance | $252,397 |
| All other expenses | $0 |
| Total functional expenses | $18,969,886 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,476,998 |
| Savings and temporary cash investments | $115,481 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $34,950 |
| 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 | $284,994 |
| Net Land, buildings, and equipment | $117,452,381 |
| Investments—publicly traded securities | $184,326,850 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,684,155 |
| Total assets | $309,375,809 |
| Accounts payable and accrued expenses | $2,969,002 |
| Grants payable | $0 |
| Deferred revenue | $11,503,281 |
| Tax-exempt bond liabilities | $260,634,083 |
| 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 | $114,102,251 |
| Total liabilities | $389,208,617 |
| Net assets without donor restrictions | -$80,165,845 |
| Net assets with donor restrictions | $333,037 |
| 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 | $309,375,809 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Samaritan Housing Foundation Inc has recieved totaling $4,400.
| Awarding Organization | Amount |
|---|---|
Mistler Charitable Trust Raleigh, NC PURPOSE: CHARITABLE | $2,200 |
Mistler Charitable Trust Raleigh, NC PURPOSE: CHARITABLE | $2,200 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Presbyterian Homes Inc Colfax, NC | $256,348,828 | $62,438,008 |
Aldersgate United Methodist Retirement Community Inc Charlotte, NC | $165,248,151 | $44,725,662 |
Everyage Newton, NC | $158,969,277 | $58,100,743 |
Lenbrook Square Foundation Inc Atlanta, GA | $291,448,667 | $46,078,205 |
Southminster Inc Charlotte, NC | $251,267,272 | $46,562,509 |
Sunnyside Presbyterian Home Harrisonburg, VA | $146,625,946 | $50,868,403 |
Bishop Gadsden Episcopal Retirement Community Charleston, SC | $293,506,409 | $50,827,097 |
Carolina Meadows Inc Chapel Hill, NC | $159,623,308 | $43,472,709 |
Springmoor Inc Raleigh, NC | $57,744,266 | $37,768,204 |
Williamsburg Landing Inc Williamsburg, VA | $188,766,508 | $45,342,775 |
Moravian Home Incorporated Winstonsalem, NC | $135,166,146 | $36,716,865 |
Lakewood Manor Baptist Retirement Community Inc Glen Allen, VA | $206,811,940 | $42,484,506 |