Versacare Inc
- Assets
- $62.5m
- Revenue
- $303.3k
- Investments
- $36.6m
- Employees
- 0
- Location
- Loma Linda, CA
- Founding
- 06/1990
- Data as of
- 12/2022
- EIN
- 33-0052434
Organization Overview
Versacare Inc is located in Loma Linda, CA. The organization was established in 1990. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Versacare 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 12/2022, Versacare Inc generated $303.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (39.6%) each year. All expenses for the organization totaled $450.9k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (38.7%) per year over the past 4 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Versacare Inc has awarded 430 individual grants totaling $7,312,742. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tom Macomber President | 20 | $0 | |
Danette Zurek CFO | 5 | $0 | |
Charles C Sandefur Chairman | 3 | $0 | |
Ellen H Brodersen CPA Treasurer | 4 | $0 | |
Richard Ws Pershing Secretary | 3 | $0 | |
Debra Brill Director | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $297,386 |
| Dividends & Interest | $286,113 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$312,304 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $32,149 |
| Total Revenue | $303,344 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $44,038 |
| Pension plans, employee benefits | $10,984 |
| Interest | $0 |
| Taxes | $3,010 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $6,406 |
| Total operating and administrative expenses | $136,945 |
| Contributions, gifts, grants paid | $313,945 |
| Total expenses and disbursements | $450,890 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $525,160 |
| Savings and temporary cash investments | $4,656,491 |
| Net Accounts receivable | $10,143 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $17,338,500 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $38,752 |
| Net Investments - land, buildings, equipment | $340,029 |
| Investments—mortgage loans | $0 |
| Investments—other | $1,442,353 |
| Net Land, buildings, and equipment | $55 |
| Other assets | $3,017,198 |
| Total assets | $62,525,945 |
| Accounts payable and accrued expenses | $119,359 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $1,590,758 |
| Total liabilities | $1,710,117 |
Grants Awarded
Over the last fiscal year, Versacare Inc has awarded $313,945 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
ADVENTIST HEALTH INTERNATIONAL PURPOSE: TO SUPPORT THE MINISTRY AND MISSION OF THE SEVENTH-DAY ADVENTIST CHURCH | $150,000 |
INTERNATIONAL CHILDREN'S CARE PURPOSE: TO SUPPORT ADOPTION PROGRAMS IN CONGO, DOMINICAN REPUBLIC AND MEXICO | $100,000 |
ADVENT HOPE VENTURES INC PURPOSE: TO SUPPORT GOSPEL CENTERED COMMUNITIES, MISSION LEADERS, AND PUBLIC COLLEGE CAMPUS CHAPLAINS IN URBAN AREAS | $20,000 |
ADVENTSOURCE PURPOSE: TO SUPPORT RELIGIOUS COMMUNITY | $43,945 |