Bethesda Foundation
- Assets
- $104.9m
- Revenue
- $43.4m
- Investments
- $5.6m
- Employees
- 1,665
- Location
- Colorado Springs, CO
- Founding
- 02/1972
- Data as of
- 09/2021
- EIN
- 47-0497753
Organization Overview
Bethesda Foundation, operating under the name Bethesda Senior Living Communities, is located in Colorado Springs, CO. The organization was established in 1972. 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 09/2021, Bethesda Senior Living Communities employed 1,665 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bethesda Senior Living Communities 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, Bethesda Senior Living Communities generated $43.4m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 5.2% each year. All expenses for the organization totaled $47.5m during the year ending 09/2021. While expenses have increased by 8.0% 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
SERVING SENIORS BY ENRICHING THEIR PHYSICAL, EMOTIONAL AND SPIRITUAL HEALTH.
Describe the Organization's Program Activity:
DEVELOPMENT AND OPERATION OF TAX EXEMPT ASSISTED LIVING COMMUNITIES, INDEPENDENT LIVING COMMUNITIES, AND MEMORY CARE FACILITIES FOR SENIORS IN ARIZONA, COLORADO, MISSOURI, NEBRASKA, AND TEXAS. CARED FOR AN AVERAGE OF 847 RESIDENTS DURING THE FISCAL YEAR ENDED 9/30/2021.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Larry Smith Vice President (part Year)/director | OfficerTrustee | 5 | $247,751 |
Rick Summers Vice President & Director | OfficerTrustee | 28 | $185,530 |
Kris Gillen VP Of Sales & Marketing | 27 | $150,120 | |
Joshua Thomas VP Of Strategy & Development | 27 | $149,699 | |
Michelle Ingerson VP Health Services | 27 | $127,417 | |
William Schwingen Regional Director Of Operations | 27 | $126,217 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Great West Construction Llc Construction Contractor | 9/29/21 | $952,733 |
Direct Supply Inc Contract Installation/maint. Services | 9/29/21 | $525,461 |
Ridge View Construction Inc Construction Contractor | 9/29/21 | $285,210 |
Ducker Commercial Roofing Llc Roofing | 9/29/21 | $256,593 |
Healthcare Services Group Llc Housekeeping And Food Services | 9/29/21 | $885,560 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $3,444,474 |
| Government grants | $1,130,962 |
| All other contributions, gifts, grants, and similar amounts not included above | $18,458 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,593,894 |
| Total Program Service Revenue | $38,454,743 |
| Investment income | $155,967 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $68,996 |
| Net Gain/Loss on Asset Sales | $28,815 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $43,407,177 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $583,439 |
| 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. | $366,343 |
| Compensation of current officers, directors, key employees. | $366,343 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $18,577,858 |
| Pension plan accruals and contributions | $254,786 |
| Other employee benefits | $1,568,181 |
| Payroll taxes | $1,575,696 |
| Fees for services: Management | $502,474 |
| Fees for services: Legal | $137,757 |
| Fees for services: Accounting | $39,593 |
| Fees for services: Lobbying | $998 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $26,136 |
| Fees for services: Other | $3,758,658 |
| Advertising and promotion | $885,022 |
| Office expenses | $3,778,459 |
| Information technology | $741,240 |
| Royalties | $0 |
| Occupancy | $3,411,092 |
| Travel | $375,692 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $130,925 |
| Interest | $4,079,736 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,932,966 |
| Insurance | $1,543,647 |
| All other expenses | $5,207 |
| Total functional expenses | $47,489,714 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,600,911 |
| Savings and temporary cash investments | $48,585 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,051,487 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,500,000 |
| Inventories for sale or use | $92,036 |
| Prepaid expenses and deferred charges | $522,071 |
| Net Land, buildings, and equipment | $78,578,666 |
| Investments—publicly traded securities | $2,468,530 |
| Investments—other securities | $5,613,417 |
| Investments—program-related | $0 |
| Intangible assets | $4,494,000 |
| Other assets | $1,940,117 |
| Total assets | $104,909,820 |
| Accounts payable and accrued expenses | $3,205,758 |
| Grants payable | $0 |
| Deferred revenue | $232,606 |
| Tax-exempt bond liabilities | $24,538,039 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $11,047,849 |
| Unsecured mortgages and notes payable | $5,892,000 |
| Other liabilities | $53,140,449 |
| Total liabilities | $98,056,701 |
| Net assets without donor restrictions | $6,853,119 |
| Net assets with donor restrictions | $0 |
| 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 | $104,909,820 |
Grants Awarded
Over the last fiscal year, Bethesda Foundation has awarded $359,305 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Colorado Springs, CO PURPOSE: Support Operations | $349,305 |
Colorado Springs, CO PURPOSE: Voices of Grief- Documentary Film | $10,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Bethesda Foundation has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
Bethesda Associates Colorado Springs, CO PURPOSE: Employee Benevolene Fund | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Presbyterian Manors Inc Wichita, KS | $184,544,453 | $111,573,289 |
Wind Crest Inc Highlands Ranch, CO | $994,750,892 | $101,821,214 |
Tempe Life Care Village Inc Tempe, AZ | $225,266,079 | $48,647,054 |
Bethesda Foundation Colorado Springs, CO | $104,909,820 | $43,407,177 |
Lakeview Village Inc Lenexa, KS | $137,708,063 | $49,070,478 |
La Posada At Park Centre Inc Green Valley, AZ | $182,054,249 | $47,958,568 |
Frasier Meadows Manor Inc Boulder, CO | $252,296,856 | $40,732,560 |
Beatitudes Campus Of Care Phoenix, AZ | $120,319,049 | $33,436,636 |
People Of Faith Inc Sun City, AZ | $251,643,138 | $33,088,460 |
Bslc Ii Colorado Springs, CO | $101,154,124 | $30,600,534 |
Larksfield Place Retirement Communities Inc Wichita, KS | $52,859,205 | $27,697,106 |
Immanuel Caring Ministries Inc Peoria, AZ | $33,992,239 | $28,756,705 |