Homewood Retirement Centers Inc

The information for Homewood Retirement Centers Inc is as of the organization's most recent filing in December '21. This organization is located in Williamsport, MD. It has been in existence for 26 years, following its founding in 1995.

Organization Classification

The IRS classifies organizations according to the National Taxonomy of Exempt Entities (NTEE) system. The NTEE system helps the IRS assign a 3-character code to each organization to describe the organization's activities.

Homewood Retirement Centers Inc is an organization classified under the NTEE code L19, which falls under the major classification of Housing & Shelter. The minor classification for this organization is Support N.E.C. According to the classification description, Homewood Retirement Centers Inc provides various forms of support within the Housing, Shelter major group area, excluding financial assistance or fund raising for other organizations. This organization is also governed by section code 3, which encompasses Religious, Educational, Charitable, Scientific, Literary, Testing for Public Safety, Amateur Sports, or Prevention of Cruelty to Children or Animals Organizations. The mission of Homewood Retirement Centers Inc is to provide compassionate, professional, and caring service in order to enhance the quality of life for residents, clients, and co-workers.

Program Areas

Homewood Retirement Centers, Inc. is a parent company that provides administrative support, centralized accounting, computer and technical support, human resources, purchasing, and fundraising through the Homewood Foundation to the Homewood communities. The organization primarily focuses on providing a continuum of care for elderly individuals in retirement communities and nursing homes in five locations. These facilities include independent living cottages and apartments, assisted living units, and nursing home beds for skilled and special memory care. Within the general fund, Homewood Retirement Centers reports all revenues, support, and functional expenses that are not specifically reported by another fund or program.

Organization Staffing

Homewood Retirement Centers Inc is run by Thad Rothrock, who is the President/CEO. The organization has 1,620 employees, with only 8 of them being paid more than $100k per year. Supporting the paid staff are 12 volunteers.

Board Governance

Homewood Retirement Centers Inc, based on the provided information, appears to be well-governed. The organization has 13 voting members, with 12 of them being independent, indicating a diverse and unbiased decision-making process. The presence of potential conflicts of interest is acknowledged, but the organization has taken steps to address them by implementing a conflict of interest policy and requiring disclosure of conflicts. This demonstrates a commitment to transparency and ethical practices. Furthermore, the organization has documented board meetings and committee meetings, indicating a commitment to record-keeping and accountability. The existence of a written whistleblower policy and a document retention policy further highlights the organization's dedication to maintaining integrity and protecting against misconduct. In addition, Homewood Retirement Centers Inc substantiates and reviews leadership and officer's salaries, ensuring that compensation is reasonable and justifiable. The provision of copies of the 990 form to the board prior to filing shows a commitment to financial transparency and accountability. Overall, Homewood Retirement Centers Inc demonstrates strong governance practices, with a focus on transparency, accountability, and ethical decision-making. The organization's commitment to addressing conflicts of interest, documenting meetings, implementing policies, and ensuring appropriate compensation substantiation showcases a well-governed non-profit organization.

Organization Growth

Homewood Retirement Centers Inc has experienced growth over the given time period. The organization's investment income increased from $3.5K in 2015 to $638.9K in 2021. Additionally, their other revenue increased from $4.0M in 2015 to $5.6M in 2021, while their total revenue grew from $4.0M to $6.2M over the same period. Employee salaries also increased from $2.8M in 2015 to $3.5M in 2021. Despite an increase in expenses from $4.3M to $5.8M, the organization's growth is evident. Moreover, the total number of employees increased from 1.5K to 1.6K, indicating an expansion in the workforce. However, the total number of volunteers decreased from 30 in 2017 to 12 in 2021.