Gilbert Residence Inc
- Assets
- $21.2m
- Revenue
- $7.7m
- Investments
- $372.1k
- Employees
- 207
- Location
- Ypsilanti, MI
- Founding
- 02/1955
- Data as of
- 12/2021
- EIN
- 38-1615660
Organization Overview
Gilbert Residence Inc is located in Ypsilanti, MI. The organization was established in 1955. According to its NTEE Classification (E91) the organization is classified as: Nursing Facilities, under the broad grouping of Health Care and related organizations. As of 12/2021, Gilbert Residence Inc employed 207 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Gilbert Residence 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, Gilbert Residence Inc generated $7.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.8% each year. All expenses for the organization totaled $6.1m during the year ending 12/2021. While expenses have increased by 0.8% per year over the past 7 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
OUR MISSION IS TO CONTINUE A TRADITION OF EXCELLENCE BY PROVIDING COMPASSIONATE AND DIGNIFIED CARE THAT BEST MEETS YOUR NEEDS AND PREFERENCES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE GILBERT RESIDENCE OFFERS HOUSING, HEALTH CARE AND RELATED SERVICES TO RESIDENTS THROUGH THE OPERATION OF A RETIREMENT, ASSISTED LIVING AND MEMORY CARE HOME.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Derek Mcgill CEO | Officer | 40 | $162,617 |
Dawn Bates Business Man | Officer | 40 | $104,998 |
Richard Timmons Treasurer | OfficerTrustee | 1 | $0 |
Barbara Robb Vice Preside | OfficerTrustee | 1 | $0 |
Ted Schork President | OfficerTrustee | 1 | $0 |
Thomas Harrison Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,631,843 |
| All other contributions, gifts, grants, and similar amounts not included above | $51,883 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,683,726 |
| Total Program Service Revenue | $5,715,339 |
| Investment income | $171,677 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,710,514 |
| 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. | $298,499 |
| Compensation of current officers, directors, key employees. | $298,499 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,959,124 |
| Pension plan accruals and contributions | $116,024 |
| Other employee benefits | $256,938 |
| Payroll taxes | $259,661 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $30,551 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $39,597 |
| Fees for services: Other | $52,840 |
| Advertising and promotion | $22,397 |
| Office expenses | $24,520 |
| Information technology | $31,887 |
| Royalties | $0 |
| Occupancy | $372,975 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $44,374 |
| Interest | $209,610 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $435,391 |
| Insurance | $0 |
| All other expenses | $50,995 |
| Total functional expenses | $6,053,989 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $387,397 |
| Savings and temporary cash investments | $2,854,586 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $312,296 |
| 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 | $66,267 |
| Net Land, buildings, and equipment | $9,317,226 |
| Investments—publicly traded securities | $7,894,721 |
| Investments—other securities | $372,070 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $21,204,563 |
| Accounts payable and accrued expenses | $498,656 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $6,167,158 |
| 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 | $0 |
| Total liabilities | $6,665,814 |
| Net assets without donor restrictions | $14,376,418 |
| Net assets with donor restrictions | $162,331 |
| 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 | $21,204,563 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Gilbert Residence Inc has recieved totaling $28,895.
| Awarding Organization | Amount |
|---|---|
Helen Mccalla Charitable Foundation Brooklyn, OH PURPOSE: GENERAL OPERATING | $18,895 |
Walter J Hilton Charitable Tr Brooklyn, OH PURPOSE: SUPPORT EXEMPT PURPOSE | $10,000 |
Endowment Analysis
| Beg. Balance | $16,024 |
| Ending Balance | $16,024 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Botsford Continuing Care Corporation Southfield, MI | $28,554,348 | $16,692,642 |
American Health Foundation Inc Dublin, OH | $18,460,178 | $15,917,114 |
Michigan Christian Home Grand Rapids, MI | $105,314,138 | $18,661,362 |
Oakwood Village University Woods Homes Inc Madison, WI | $65,944,381 | $14,695,232 |
West Side Deutscher Frauen Verein Strongsville, OH | $52,788,164 | $24,260,766 |
Presbyterian Village East Chesterfield Twp, MI | $23,144,610 | $18,364,022 |
Methodist Manor Health Center Inc West Allis, WI | $6,950,058 | $15,339,815 |
Brethren Care Inc Ashland, OH | $33,039,248 | $18,821,544 |
Visiting Nurse And Hospice Home Inc Fort Wayne, IN | $27,656,641 | $21,519,999 |
Mcv Health Care Facilities Inc Cincinnati, OH | $23,364,153 | $19,035,852 |
Assumption Village North Lima, OH | $8,870,048 | $14,570,063 |
St Clair Darden Health System Inc South Bend, IN | $21,453,139 | $17,018,170 |