Clark Retirement Community Foundation
- Assets
- $12.8m
- Revenue
- $1.9m
- Investments
- $5.5m
- Employees
- 0
- Location
- Grand Rapids, MI
- Founding
- 08/1995
- Data as of
- 04/2022
- EIN
- 38-3236052
Organization Overview
Clark Retirement Community Foundation is located in Grand Rapids, MI. The organization was established in 1995. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Clark Retirement Community Foundation 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 04/2022, Clark Retirement Community Foundation generated $1.9m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (4.0%) each year. All expenses for the organization totaled $1.5m during the year ending 04/2022. As we would expect to see with falling revenues, expenses have declined by (17.7%) per year over the past 7 years. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO RECEIVE AND ADMINISTER FUNDS TO FURTHER THE MISSION OF CLARK RETIREMENT COMMUNITY, INC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RECEIVED AND ADMINISTERED FUNDS FOR THE SUPPORT OF CLARK RETIREMENT COMMUNITY, INC. RESIDENTS REPRESENTING A TOTAL OF $859,863 IN BENEVOLENCE CARE BROKEN DOWN AS FOLLOWS: (1) MEDICAID $639,417 (2) ASSISTED LIVING $220,446.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brian Ellis Chair / President (part Year) | OfficerTrustee | 1 | $0 |
John Wert Board Trustee | OfficerTrustee | 1 | $0 |
Bonnie Miller Chair Treasurer | OfficerTrustee | 1 | $0 |
William Millard Vice Chair (part Year) | OfficerTrustee | 1 | $0 |
Joann Abraham Executive Director | Officer | 40 | $0 |
John Abbott Board Trustee (part Year) | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $36,346 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,444,605 |
| Noncash contributions included in lines 1a–1f | $20,610 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,480,951 |
| Total Program Service Revenue | $0 |
| Investment income | $113,786 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $223,551 |
| Net Income from Fundraising Events | $58,664 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,876,952 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,044,696 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $36,000 |
| Fees for services: Investment Management | $52,726 |
| Fees for services: Other | $194,489 |
| Advertising and promotion | $7,204 |
| Office expenses | $25,088 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $24,783 |
| Travel | $97 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $75 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $70,128 |
| Total functional expenses | $1,507,225 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $256,912 |
| Pledges and grants receivable | $509,765 |
| Accounts receivable, net | $0 |
| 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 | $167 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $6,410,316 |
| Investments—other securities | $5,510,851 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $122,775 |
| Total assets | $12,810,786 |
| Accounts payable and accrued expenses | $5,658 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| 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 | $392,613 |
| Total liabilities | $398,271 |
| Net assets without donor restrictions | $3,490,529 |
| Net assets with donor restrictions | $8,921,986 |
| 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 | $12,810,786 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Clark Retirement Community Foundation has recieved totaling $11,000.
| Awarding Organization | Amount |
|---|---|
Grand Rapids Community Foundation Grand Rapids, MI PURPOSE: GENERAL OPERATING SUPPORT | $6,000 |
Korff Foundation Comstock Park, MI PURPOSE: CHARITABLE | $5,000 |
Endowment Analysis
| Beg. Balance | $1,889,307 |
| Net Contributions | $452,389 |
| Ending Balance | $2,341,696 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Germantown Home Philadelphia, PA | $23,238,200 | $17,117,508 |
Chandler Hall Health Services Inc Newtown, PA | $26,412,529 | $17,505,940 |
Botsford Continuing Care Corporation Southfield, MI | $28,554,348 | $16,692,642 |
Easter Seals Of Southeastern Pennsylvania Philadelphia, PA | $31,894,421 | $25,193,342 |
North Penn Comprehensive Health Services Mansfield, PA | $22,065,846 | $23,390,461 |
St Francis Medical Center Breckenridge, MN | $127,422,671 | $26,046,876 |
Memorial Professional Services Ltd Toledo, OH | $7,092,437 | $15,080,612 |
Midmichigan Health Services Houghton Lake, MI | $14,679,039 | $20,215,598 |
Borgess Health Alliance Inc St Louis, MO | $46,781,570 | $6,896,966 |
Illinois Primary Health Care Association Springfield, IL | $11,577,545 | $20,459,063 |
Grove Manor Corporation Grove City, PA | $38,510,469 | $20,011,663 |
American Health Foundation Inc Dublin, OH | $18,460,178 | $15,917,114 |