Virginia Mennonite Retirement Community
- Assets
- $42.8m
- Revenue
- $8.1m
- Investments
- $0.0
- Employees
- 93
- Location
- Harrisonburg, VA
- Founding
- 12/1980
- Data as of
- 03/2021
- EIN
- 51-0249314
Organization Overview
Virginia Mennonite Retirement Community is located in Harrisonburg, VA. The organization was established in 1980. According to its NTEE Classification (L02) the organization is classified as: Management & Technical Assistance, under the broad grouping of Housing & Shelter and related organizations. As of 03/2022, Virginia Mennonite Retirement Community employed 93 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Virginia Mennonite Retirement Community 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 03/2021, Virginia Mennonite Retirement Community generated $8.1m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.3% each year . All expenses for the organization totaled $7.0m during the year ending 03/2021. While expenses have increased by 6.6% 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
TO BE A COMMUNITY OF HOPE, MEANING AND GROWTH FOR PEOPLE TO AGE WELL AND LIVE FULLY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE MANAGEMENT, ACCOUNTING, COMMUNICATIONS, INFORMATION TECHNOLOGY, AND PERSONNEL SUPPORT SERVICES FOR FOUR RELATED EXEMPT ORGANIZATIONS.
PROVIDE TELEPHONE, CABLE, HIGH SPEED INTERNET, WASTE MANAGEMENT, TRANSPORTATION AND HOUSEKEEPING SERVICES TO RETIREMENT COMMUNITY RESIDENTS.
PROVIDE MARKETING AND ADMISSION SERVICES FOR FOUR RELATED EXEMPT ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Judith Trumbo CEO | Officer | 40 | $187,841 |
Mike Piper CFO | Officer | 40 | $129,341 |
Scott Kleist VP - Tech & | 40 | $111,666 | |
Delores Keith VP - Human R | 1 | $110,882 | |
Teresa Boshart Yoder Vice Chair | OfficerTrustee | 1 | $0 |
Jacqueline R Hartman Chair | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Partners Excavating Construction | 3/30/19 | $174,224 |
Total Technology Management Info Technology | 3/30/19 | $201,386 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $162,225 |
| Investment income | $7,651 |
| 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 | -$10,056 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,073,755 |
| Statement of Expenses | |
|---|---|
| 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. | $323,221 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,639,268 |
| Pension plan accruals and contributions | $101,411 |
| Other employee benefits | $398,624 |
| Payroll taxes | $208,501 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $16,995 |
| Fees for services: Accounting | $24,250 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $168,009 |
| Advertising and promotion | $35,299 |
| Office expenses | $378,544 |
| Information technology | $519,649 |
| Royalties | $0 |
| Occupancy | $419,788 |
| Travel | $1,843 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $29,618 |
| Interest | $1,051,044 |
| Payments to affiliates | $4,000 |
| Depreciation, depletion, and amortization | $228,169 |
| Insurance | $41,493 |
| All other expenses | $0 |
| Total functional expenses | $7,046,707 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,257,694 |
| Savings and temporary cash investments | $4,807,756 |
| Pledges and grants receivable | $0 |
| 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 | $697,721 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $1,601,126 |
| Intangible assets | $0 |
| Other assets | $30,064,390 |
| Total assets | $42,827,951 |
| Accounts payable and accrued expenses | $470,711 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $31,747,587 |
| 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 | $3,056,000 |
| Other liabilities | $9,432,310 |
| Total liabilities | $44,706,608 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | -$1,878,657 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Virginia Mennonite Retirement Community has recieved totaling $36,500.
| Awarding Organization | Amount |
|---|---|
Truist Foundation Inc Orlando, FL PURPOSE: GENERAL OPERATING | $25,000 |
Vmrc Foundation Inc Harrisonburg, VA PURPOSE: PURCHASE EQUIPMENT | $5,795 |
Schwab Charitable Fund San Francisco, CA PURPOSE: HUMAN SERVICES | $5,700 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $5 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Federation Of Applachian Housing Inc Berea, KY | $96,510,437 | $12,528,691 |
Virginia Mennonite Retirement Community Harrisonburg, VA | $42,827,951 | $8,073,755 |
North Carolina Housing Services And Management Corporation Winstonsalem, NC | $840,720 | $4,697,596 |
Mosaic Development Group Inc Charlotte, NC | $17,779,352 | $3,061,867 |
Nho Management Inc Memphis, TN | $6,297,226 | $909,535 |
Virginia Apartment Management Association Richmond, VA | $2,254,574 | $1,543,902 |
Engineer Center Inc Upper Marlboro, MD | $3,730,343 | $468,403 |
Consortium For Housing And Asset Management Inc Baltimore, MD | $291,820 | $332,451 |
Vance Housing Inc Beckley, WV | $629,884 | $114,093 |
Mobility Works Inc Baltimore, MD | $265,879 | $366,320 |
Loving Hearts & Caring Hands Inc Madisonville, TN | $1,718 | $0 |
Melkie Jones Homeownership Inc Murfreesboro, TN | $3,680 | $0 |