Covenant Retirement Communities Of The Great Lakes Conference
- Assets
- $46.5m
- Revenue
- $18.3m
- Investments
- $3.3m
- Employees
- 356
- Location
- Grand Rapids, MI
- Founding
- 07/1975
- Data as of
- 09/2021
- EIN
- 38-3244636
Organization Overview
Covenant Retirement Communities Of The Great Lakes Conference is located in Grand Rapids, MI. The organization was established in 1975. According to its NTEE Classification (L22) the organization is classified as: Senior Citizens Housing & Retirement Communities, under the broad grouping of Housing & Shelter and related organizations. As of 09/2021, Covenant Retirement Communities Of The Great Lakes Conference employed 356 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Covenant Retirement Communities Of The Great Lakes Conference 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 09/2021, Covenant Retirement Communities Of The Great Lakes Conference generated $18.3m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.8% each year. All expenses for the organization totaled $21.8m during the year ending 09/2021. While expenses have increased by 4.2% 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
CARE FOR SENIOR ADULTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RESIDENTIAL LIVING: THE NUMBER OF PERSONS WHO BENEFITED FROM THE SERVICES WE PROVIDED FOR THE YEAR ENDED SEPTEMBER 30, 2021 WERE AS FOLLOWS:THERE WERE A TOTAL OF 230 RESIDENTS, OCCUPYING 175 APARTMENTS AT 09/30/2021. RESIDENCY FOR THE FISCAL YEAR TOTALED 84,769 RESIDENT DAYS.
ASSISTED LIVING: THE NUMBER OF PERSONS WHO BENEFITED FROM THE SERVICES WE PROVIDED FOR THE YEAR ENDED SEPTEMBER 30, 2021 WERE AS FOLLOWS:THERE WERE A TOTAL OF 55 ASSISTED LIVING RESIDENTS AT 09/30/2021. ASSISTED LIVING RESIDENCY FOR THE FISCAL YEAR TOTALED 18,777 RESIDENT DAYS.
SKILLED NURSING: THE NUMBER OF PERSONS WHO BENEFITED FROM THE SERVICES WE PROVIDED FOR THE YEAR ENDED SEPTEMBER 30, 2021 WERE AS FOLLOWS:THERE WERE A TOTAL OF 29 SKILLED CARE RESIDENTS AT 09/30/2021. SKILLED CARE RESIDENCY FOR THE FISCAL YEAR TOTALED 10,376 RESIDENT DAYS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lisa Cummins Executive Director | 40 | $116,274 | |
Joanne Elenbaas Director Of Sales | 40 | $108,317 | |
Sarah Bentley Director/secretary | OfficerTrustee | 0.1 | $0 |
Janet Creaney Director/vice Chair | OfficerTrustee | 0.1 | $0 |
Terri S Cunliffe Director/clcs President/ceo | OfficerTrustee | 1 | $0 |
Matthew Manlove Director/chair | OfficerTrustee | 0.1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Qci Nurse Specialists Medical Services | 9/29/21 | $138,381 |
Dj's Landscape Management Landscaping | 9/29/21 | $141,530 |
Andy J Egan Company Inc Construction | 9/29/21 | $390,019 |
Sodexo Inc & Affiliates Dining Services | 9/29/21 | $446,332 |
Mary Free Bed Therapy | 9/29/21 | $325,414 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $50,350 |
| Related organizations | $0 |
| Government grants | $1,087,516 |
| All other contributions, gifts, grants, and similar amounts not included above | $113,275 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,251,141 |
| Total Program Service Revenue | $15,359,114 |
| Investment income | $211,866 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $394,407 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $18,284,551 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,531,560 |
| Pension plan accruals and contributions | $88,735 |
| Other employee benefits | $754,361 |
| Payroll taxes | $504,521 |
| Fees for services: Management | $88,633 |
| Fees for services: Legal | $84,098 |
| Fees for services: Accounting | $41,851 |
| Fees for services: Lobbying | $909 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,419,984 |
| Advertising and promotion | $168,241 |
| Office expenses | $683,896 |
| Information technology | $659,733 |
| Royalties | $0 |
| Occupancy | $1,132,445 |
| Travel | $9,539 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $33,610 |
| Interest | $2,335,633 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,094,232 |
| Insurance | $216,613 |
| All other expenses | $794,329 |
| Total functional expenses | $21,833,304 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,606 |
| Savings and temporary cash investments | $155,062 |
| Pledges and grants receivable | $14,157 |
| Accounts receivable, net | $534,616 |
| 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 | $104,302 |
| Net Land, buildings, and equipment | $36,232,367 |
| Investments—publicly traded securities | $5,939,072 |
| Investments—other securities | $3,279,561 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $200,000 |
| Total assets | $46,465,743 |
| Accounts payable and accrued expenses | $359,976 |
| Grants payable | $0 |
| Deferred revenue | $10,338,194 |
| Tax-exempt bond liabilities | $41,837,935 |
| Escrow or custodial account liability | $44,275 |
| 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 | $32,955,728 |
| Total liabilities | $85,536,108 |
| Net assets without donor restrictions | -$39,090,184 |
| Net assets with donor restrictions | $19,819 |
| 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 | $46,465,743 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Covenant Retirement Communities Of The Great Lakes Conference has recieved totaling $90.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $90 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Blanchard Valley Continuing Care Services Findlay, OH | $61,929,671 | $35,904,527 |
American Senior Communities Group Health Plan Indianapolis, IN | $8,703,398 | $37,045,158 |
Twin Lakes Cincinnati, OH | $221,116,873 | $30,548,357 |
St Leonard Centerville, OH | $96,777,617 | $31,237,067 |
Colonial Senior Services Inc Hamilton, OH | $79,845,037 | $27,642,805 |
Clark Retirement Community Inc Grand Rapids, MI | $96,381,064 | $20,508,927 |
First Community Village Columbus, OH | $122,549,081 | $19,045,598 |
Resthaven Holland, MI | $35,879,779 | $29,087,420 |
Willow Brook Christian Services Delaware, OH | $3,018,622 | $23,582,237 |
Covenant Retirement Communities Of The Great Lakes Conference Grand Rapids, MI | $46,465,743 | $18,284,551 |
Wesleyan Senior Care Inc Elyria, OH | $38,781,786 | $23,501,325 |
Oakwood Village Prairie Ridge Homes Inc Madison, WI | $61,014,266 | $15,535,778 |