Presbyterian Homes Inc

Organization Overview

Presbyterian Homes Inc, operating under the name River Landing at Sandy Ridge Scotia Village, is located in Colfax, NC. The organization was established in 1991. 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, River Landing at Sandy Ridge Scotia Village employed 1,311 individuals. This organization is a parent organization of an affiliated group for tax-exemption purposes. River Landing at Sandy Ridge Scotia Village 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, River Landing at Sandy Ridge Scotia Village generated $62.4m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 6.8% each year. All expenses for the organization totaled $48.5m during the year ending 09/2021. While expenses have increased by 3.7% 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.

Mission & Program ActivityExcerpts From the 990T Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

THE VISION OF THE PRESBYTERIAN HOMES INC IS TO CREATE AN INNOVATIVE, VIBRANT AND DIVERSE CULTURE WHICH PROVIDES SECURITY AND ENHANCES QUALITY OF LIFE WHILE PROVIDING HOUSING AND SERVICE TO SENIOR ADULTS.

Describe the Organization's Program Activity:

THE PRESBYTERIAN HOMES, INC. PROVIDES RESIDENTIAL ASSISTED LIVING AND NURSING CARE FOR APPROXIMATELY 844 SENIOR ADULT RESIDENTS. SERVICES INCLUDE HOUSEKEEPING, FOOD SERVICE, MEDICAL AND OTHER SUPPORT SERVICES IN A CONTINUING CARE COMMUNITY.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Carolina Therapy Services Inc
Therapy
$1,890,663
Aspirar Medical Lab
Medical Lab
$502,878
Steele Group Architects Pllc
Architect
$1,617,164
Id Collaborative
Interior Design
$1,151,780
Grs Holding Llc
Holdings
$409,073
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$1,688,075
Government grants $1,242,816
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$2,930,891
Total Program Service Revenue$53,605,835
Investment income $1,390,777
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $63,987
Net Gain/Loss on Asset Sales $4,329,389
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $62,438,008

Endowment Analysis

Beg. Balance$31,283,454
Earnings$7,964,766
Admin Expense$16,451
Net Contributions$5,292,769
Grants$1,373,407
Ending Balance$43,151,131

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