Baptist Retirement Homes Of North Carolina Incorporated
- Assets
- $88.6m
- Revenue
- $32.4m
- Investments
- $7.4m
- Employees
- 582
- Location
- Winston Salem, NC
- Founding
- 08/1952
- Data as of
- 09/2021
- EIN
- 56-0562308
Organization Overview
Baptist Retirement Homes Of North Carolina Incorporated is located in Winston Salem, NC. The organization was established in 1952. 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, Baptist Retirement Homes Of North Carolina Incorporated employed 582 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Baptist Retirement Homes Of North Carolina Incorporated 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, Baptist Retirement Homes Of North Carolina Incorporated generated $32.4m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.6% each year. All expenses for the organization totaled $30.5m during the year ending 09/2021. While expenses have increased by 2.8% 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
TO PROVIDE QUALITY LIVING OPTIONS AND SERVICES TO NORTH CAROLINA'S OLDER ADULT POPULATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BAPTIST RETIREMENT HOMES OF NORTH CAROLINA, INCORPORATED ("HOMES) IS A NOT-FOR-PROFIT CORPORATION ORGANIZED UNDER THE LAWS OF THE STATE OF NORTH CAROLINA. IT IS EXEMPT FROM INCOME TAX UNDER INTERNAL REVENUE CODE SECTION 501[C][3] AND A PUBLIC CHARITY UNDER SECTION 509[A][2]. THE BOARD OF TRUSTEES OF HOMES HAS FIDUCIARY RESPONSIBILITY FOR THE OPERATION OF HOMES ORGANIZATION. THE MISSION OF THE HOMES IS TO PROVIDE QUALITY RESIDENTIAL AND HEALTH CARE LIVING OPTIONS AND SERVICES TO NORTH CAROLINA'S OLDER ADULT POPULATION. THE PROVISION OF THOSE SERVICES BEING OFFERED TO THE POOR ELDERLY OF THE STATE AS WELL AS THOSE OLDER PERSONS WHO DO HAVE THE FINANCIAL RESOURCES AVAILABLE TO PAY FOR THE INSTITUTIONAL SERVICES THEY NEED. IN ADDITION TO ITS PROGRAM OF BENEVOLENT FUNDING TO THE POOR ELDERLY OF THE STATE, HOMES ALSO PROVIDES A SPECIAL PROGRAM DESIGNED TO ENHANCE THE LIFESTYLE OF OLDER ADULTS WITH DEMENTIA RELATED DISORDERS LIKE ALZHEMER'S DISEASE. THREE SUCH PROGRAMS ARE OPERATED BY BAPTIST RETIREMENT HOMES. HOMES OWNS, MAINTAINS, AND OPERATES COMMUNITIES THROUGHOUT NORTH CAROLINA. ITS CURRENT COMMUNITIES INCLUDE 262 INDEPENDENT LIVING HOMES AND APARTMENTS, 138 ASSISTED LIVING RESIDENCES, AND 201 SKILLED NURSING CARE ROOMS. HOMES RECEIVES SUPPORT FROM INDIVIDUALS, BUSINESSES, FOUNDATIONS, CHURCHES, SPECIAL OFFERINGS, AND BEQUESTS FROM OTHERS TO ASSIST IN THE OPERATION AND ADMINISTRATION OF ITS COMMUNITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William B Stillerman Emeritus President Of Affi | 36 | $493,500 | |
Debra A Meginnis Evp/coo Of Affiliate And A | Officer | 36 | $387,000 |
Reed A Vanderslik President Of Affiliate & A | Officer | 36 | $340,955 |
William Meginnis Construction Services | 40 | $156,288 | |
Jessica Mccollum VP Of Operations | 40 | $125,324 | |
Ms Jeannine M Richman CFO | 36 | $119,165 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Frank L Blum Construction Co Construction Services | 9/29/21 | $1,038,098 |
Mako Medical Laboratories Llc Lab Provider | 9/29/21 | $644,215 |
Mastercraft Roofing Group Contractor | 9/29/21 | $481,632 |
Piedmont Tub Inc Bathroom Contractor | 9/29/21 | $433,120 |
Legacy Healthcare Services Therapy Services | 9/29/21 | $1,462,962 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $1,174,399 |
| Government grants | $3,210,570 |
| All other contributions, gifts, grants, and similar amounts not included above | $931,918 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,316,887 |
| Total Program Service Revenue | $25,235,357 |
| Investment income | $426,505 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $42,439 |
| Net Gain/Loss on Asset Sales | $1,097,544 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $32,374,194 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $180,000 |
| Grants and other assistance to domestic individuals. | $972,163 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $727,955 |
| Compensation of current officers, directors, key employees. | $727,955 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $11,494,333 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $2,021,336 |
| Payroll taxes | $970,463 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $54,039 |
| Fees for services: Accounting | $92,795 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,705,556 |
| Advertising and promotion | $541,858 |
| Office expenses | $359,923 |
| Information technology | $235,575 |
| Royalties | $0 |
| Occupancy | $1,617,231 |
| Travel | $23,073 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $24,049 |
| Interest | $996,928 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,546,003 |
| Insurance | $423,827 |
| All other expenses | $236,405 |
| Total functional expenses | $30,465,530 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $4,596,486 |
| Pledges and grants receivable | $132,500 |
| Accounts receivable, net | $2,231,841 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $158,710 |
| Prepaid expenses and deferred charges | $189,635 |
| Net Land, buildings, and equipment | $45,084,557 |
| Investments—publicly traded securities | $26,265,750 |
| Investments—other securities | $7,365,382 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,622,529 |
| Total assets | $88,647,390 |
| Accounts payable and accrued expenses | $3,224,797 |
| Grants payable | $0 |
| Deferred revenue | $15,492,492 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $84,918 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $29,329,673 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $48,131,880 |
| Net assets without donor restrictions | $30,169,115 |
| Net assets with donor restrictions | $10,346,395 |
| 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 | $88,647,390 |
Grants Awarded
Over the last fiscal year, Baptist Retirement Homes Of North Carolina Incorporated has awarded $10,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
FIRST BAPTIST CHURCH CLEVELAND COUNTY PURPOSE: CLEVELAND COUNTY POTATO PROJECT | $7,500 |
FIRST BAPTIST CHURCH EDENTON PURPOSE: ADULT RESPITE CARE PROGRAM | $2,500 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Baptist Retirement Homes Of North Carolina Incorporated has recieved totaling $292,979.
| Awarding Organization | Amount |
|---|---|
Lettie Pate Whitehead Foundation Inc Atlanta, GA PURPOSE: For the care of aged women. | $265,000 |
Winston-Salem Foundation Winstonsalem, NC PURPOSE: 5 GRANT(S) FOR VARYING PURPOSES | $21,842 |
The Community Foundation Of Western North Carolina Inc Asheville, NC PURPOSE: ASSISTING PEOPLE IN NEED | $6,137 |
Endowment Analysis
| Beg. Balance | $6,839,731 |
| Earnings | $1,139,430 |
| Other Expense | $96,771 |
| Ending Balance | $7,882,390 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ashby Ponds Inc Ashburn, VA | $1,081,002,554 | $105,782,483 |
Greenspring Village Inc Springfield, VA | $635,246,519 | $86,958,670 |
Goodwin House Incorporated Alexandria, VA | $441,770,291 | $109,508,883 |
Lutheran Homes Of South Carolina Inc Irmo, SC | $120,175,361 | $78,300,034 |
Westminster-Canterbury Corporation Richmond, VA | $326,286,753 | $77,739,552 |
Virginia United Methodist Homes Inc Glen Allen, VA | $253,887,875 | $70,234,834 |
Westminster-Canterbury On Chesapeake Bay Virginia Beach, VA | $226,856,514 | $70,077,492 |
Presbyterian Communities Of South Carolina Columbia, SC | $133,476,143 | $58,903,174 |
Givens Estates Inc Asheville, NC | $338,452,219 | $72,683,846 |
Presbyterian Homes Inc Colfax, NC | $256,348,828 | $62,438,008 |
Aldersgate United Methodist Retirement Community Inc Charlotte, NC | $165,248,151 | $44,725,662 |
Everyage Newton, NC | $158,969,277 | $58,100,743 |