Riderwood Village Inc
- Assets
- $745.7m
- Revenue
- $111.7m
- Investments
- $236.0m
- Employees
- 1,697
- Location
- Silver Spring, MD
- Founding
- 11/2003
- Data as of
- 12/2020
- EIN
- 52-2126753
Organization Overview
Riderwood Village Inc is located in Silver Spring, MD. The organization was established in 2003. 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 12/2020, Riderwood Village Inc employed 1,697 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations.
For the year ending 12/2020, Riderwood Village Inc generated $111.7m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (0.9%) each year. All expenses for the organization totaled $129.8m during the year ending 12/2020. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE A HOME FOR SENIORS THAT SATISFIES THEIR THREE PRIMARY NEEDS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RIDERWOOD VILLAGE PROVIDES SERVICES NEEDED BY SENIOR RESIDENTS, WHO RESIDE IN 1,800 INDEPENDENT LIVING UNITS, 211 ASSISTED LIVING UNITS, 117 SKILLED NURSING UNITS AND 34 MEMORY CARE UNITS. THE SERVICES WE PROVIDE TO OUR RESIDENTS INCLUDE, BUT ARE NOT LIMITED TO HOUSING, FOOD, MEDICAL, SECURITY AND MAINTENANCE SERVICES, RECREATIONAL AND PASTORAL ACTIVITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gary Hibbs Executive Director | Officer | 40 | $288,803 |
Peace Oke Director, Nursing | Officer | 40 | $169,655 |
Remi Ackerman Director Of Finance (beg 1/5/20) | Officer | 40 | $162,781 |
Rebecca Kropp Speech Language Pathologist | 40 | $142,684 | |
Lois Errera Manager, Rehabilitation | 40 | $142,124 | |
Maureen Amuso Asst Administrator, Home Care | 40 | $133,693 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Erickson Senior Living Llc Management - See Sch. O | 12/30/20 | $12,328,002 |
Plano-coudon Llc Contractor | 12/30/20 | $7,138,950 |
The Severn Group Inc Hvac Contractor | 12/30/20 | $1,293,640 |
Buch Construction Inc Contractor | 12/30/20 | $1,902,330 |
Cypress Contracting Llc Contractor | 12/30/20 | $1,301,299 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,271,695 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,291,351 |
| Noncash contributions included in lines 1a–1f | $119,442 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,563,046 |
| Total Program Service Revenue | $115,382,534 |
| Investment income | $315,502 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $372,627 |
| Net Gain/Loss on Asset Sales | -$6,907,276 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $111,726,433 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $5,993 |
| Grants and other assistance to domestic individuals. | $316,375 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $702,877 |
| Compensation of current officers, directors, key employees. | $702,877 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $47,187,793 |
| Pension plan accruals and contributions | $875,245 |
| Other employee benefits | $6,343,286 |
| Payroll taxes | $3,618,530 |
| Fees for services: Management | $4,234,511 |
| Fees for services: Legal | $52,411 |
| Fees for services: Accounting | $112,997 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $18,157 |
| Fees for services: Other | $9,795,826 |
| Advertising and promotion | $3,169,241 |
| Office expenses | $12,015,825 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $8,824,769 |
| Travel | $63,582 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $4,276,343 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $24,987,874 |
| Insurance | $932,129 |
| All other expenses | $0 |
| Total functional expenses | $129,806,516 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,050 |
| Savings and temporary cash investments | $37,082,641 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,445,046 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $7,339,300 |
| Inventories for sale or use | $1,632,728 |
| Prepaid expenses and deferred charges | $1,895,417 |
| Net Land, buildings, and equipment | $449,525,725 |
| Investments—publicly traded securities | $7,757,446 |
| Investments—other securities | $236,027,036 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,298 |
| Total assets | $745,711,687 |
| Accounts payable and accrued expenses | $11,291,776 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $152,533,327 |
| Escrow or custodial account liability | $2,036,950 |
| 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 | $563,066,685 |
| Total liabilities | $728,928,738 |
| Net assets without donor restrictions | $12,633,489 |
| Net assets with donor restrictions | $4,149,460 |
| 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 | $745,711,687 |
Grants Awarded
Over the last fiscal year, Riderwood Village Inc has awarded $16,883 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
PRINCE GEORGE'S COUNTY FIRE STATION 841 PURPOSE: PROGRAM SERVICE | $6,883 |
Timonium, MD PURPOSE: PROGRAM SERVICE | $5,000 |
Gaithersburg, MD PURPOSE: PROGRAM SERVICE | $5,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Riderwood Village Inc has recieved totaling $8,000.
| Awarding Organization | Amount |
|---|---|
Plano-Coudon Foundation Inc Baltimore, MD PURPOSE: BENEVOLENT CARE FUND FOR RESIDENTS | $8,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Acts Retirement-Life Communities Inc Fort Washington, PA | $1,660,938,549 | $446,249,117 |
Asbury Atlantic Inc Frederick, MD | $494,519,761 | $174,395,209 |
Riderwood Village Inc Silver Spring, MD | $745,711,687 | $111,726,433 |
Willow Valley Communities Lancaster, PA | $506,529,308 | $113,600,002 |
Greenspring Village Inc Springfield, VA | $569,090,728 | $93,929,946 |
Oak Crest Village Inc Parkville, MD | $424,538,804 | $92,752,531 |
Ashby Ponds Inc Ashburn, VA | $762,046,134 | $88,246,844 |
Goodwin House Incorporated Alexandria, VA | $424,363,325 | $93,583,962 |
Sentara Life Care Corporation Norfolk, VA | $44,157,960 | $76,095,498 |
Humangood Pennsylvania Lafayette Hill, PA | $243,746,432 | $75,751,425 |
Spiritrust Lutheran York, PA | $160,545,487 | $68,085,658 |
Westminster-Canterbury Corporation Richmond, VA | $317,540,772 | $75,738,304 |