Deerfield Episcopal Retirement Comm Inc

Organization Overview

Deerfield Episcopal Retirement Comm Inc is located in Asheville, NC. The organization was established in 1970. 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, Deerfield Episcopal Retirement Comm Inc employed 444 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Deerfield Episcopal Retirement Comm Inc 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, Deerfield Episcopal Retirement Comm Inc generated $40.7m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.3% each year. All expenses for the organization totaled $34.7m during the year ending 09/2021. While expenses have increased by 1.5% 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.

Since 2020, Deerfield Episcopal Retirement Comm Inc has awarded 48 individual grants totaling $1,156,981. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

LIFETIME CARE IN A RELIGIOUS ATMOSPHERE

Describe the Organization's Program Activity:

Part 3 - Line 4a

DEERFIELD EPISCOPAL RETIREMENT COMMUNITY, INC. ("DEERFIELD"), A NORTH CAROLINA NONPROFIT CORPORATION, WAS ORGANIZED FOR THE PURPOSE OF OPERATING A CONTINUING CARE RETIREMENT COMMUNITY. DEERFIELD IS GOVERNED BY A BOARD OF DIRECTORS, WHICH IS COMPOSED OF INDEPENDENT CIVIC LEADERS WHO SERVE WITHOUT COMPENSATION.REV. RUL. 72-124, 1972-1 C.B. 145, SETS OUT REQUIREMENTS THAT "HOMES FOR THE AGED" MUST MEET TO QUALIFY FOR SECTION 501(C)(3) EXEMPTION. THE INTERNAL REVENUE SERVICE PROVIDED THE FOLLOWING REQUIREMENTS: (1) SATISFACTION OF THE NEED FOR HOUSING THROUGH THE PROVISION OF EMOTIONAL, RECREATIONAL, SOCIAL, RELIGIOUS, AND SIMILAR NEEDS OF AGED PERSONS; (2) SATISFACTION OF THE NEED FOR HEALTH CARE THROUGH PROVISION OF PHYSICAL AND MENTAL HEALTH SERVICES DIRECTLY OR THROUGH CONTINUING ARRANGEMENTS WITH OUTSIDE ORGANIZATIONS; AND (3) SATISFACTION OF THE NEED FOR FINANCIAL SECURITY THROUGH MAINTAINING IN RESIDENCE ANY PERSONS WHO BECOME UNABLE TO PAY THEIR REGULAR CHARGE AND THROUGH PROVIDING SERVICES AT THE LOWEST FEASIBLE COST. DEERFIELD SATISFIES ALL THREE REQUIREMENTS.IN CONJUNCTION WITH ITS COMMITMENT TO MAINTAINING PERSONS IN RESIDENCE WHO BECOME UNABLE TO PAY, DEERFIELD HAS ESTABLISHED A BENEVOLENT ASSISTANCE FUND, WHICH IS USED FOR THE EXCLUSIVE PURPOSE OF PROVIDING ASSISTANCE TO RESIDENTS IN NEED. SUCH RESIDENTS ARE IDENTIFIED BASED ON FINANCIAL INFORMATION OBTAINED FROM THE RESIDENT AND SUBSEQUENT REVIEW AND ANALYSIS. DURING THE YEAR ENDED SEPTEMBER 30, 2021, THE CHARGES FORGONE RELATED TO DEERFIELD'S BENEVOLENT ASSISTANCE PROGRAM WERE APPROXIMATELY $433,000.EXCEPT FOR SOME PRE-EXISTING FEE-FOR-SERVICE CONTRACTS, DEERFIELD OPERATES UNDER THE "LIFE CARE" CONCEPT WHEREBY RESIDENTS ENTER INTO AN AGREEMENT WITH THE ORGANIZATION THAT SPECIFIES THE SERVICES AND FACILITIES TO BE PROVIDED TO THE RESIDENT OVER HIS OR HER REMAINING LIFE. THE AGREEMENT REQUIRES PAYMENT OF A ONE-TIME ENTRANCE FEE AND DEERFIELD'S MONTHLY SERVICE FEES. UNDER THE AGREEMENT, DEERFIELD HAS THE ABILITY TO INCREASE FEES AS DEEMED NECESSARY.IN FURTHERANCE OF ITS CHARITABLE PURPOSE, DEERFIELD PROVIDES MEETING AND OFFICE SPACE FOR THREE NON-PROFIT ORGANIZATIONS ON ITS GROUNDS. THE ANNUAL RENTAL INCOME FOREGONE IS VALUED AT AN ESTIMATED $303,300 DURING THE YEAR ENDED SEPTEMBER 30, 2021.DEERFIELD ALSO PROVIDES NUMEROUS COMMUNITY BENEFITS WHICH INCLUDE CHARITABLE DONATIONS AND DONATED VOLUNTEER SERVICES IN THE AMOUNTS OF $1,222,000 DURING THE YEAR ENDED SEPTEMBER 30, 2021.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Mechanical Building Systems Llc
Hvac
$806,601
William A Stewart Superior Painting In
Painting
$678,403
Cornertsone Electrical Service
Electrical
$546,775
Thw Design
Design
$557,444
Carolina Flooring Contractors Llc
Flooring
$431,556
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$356,335
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$1,074,341
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$1,430,676
Total Program Service Revenue$36,551,095
Investment income $1,579,830
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $820,355
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $469
Miscellaneous Revenue$0
Total Revenue $40,690,637

Grants Awarded

Over the last fiscal year, Deerfield Episcopal Retirement Comm Inc has awarded $476,639 in support to 26 organizations.

Grant RecipientAmount

Asheville, NC

PURPOSE: MISSION SUPPORT

$57,500

Asheville, NC

PURPOSE: MISSION SUPPORT

$52,275

PISGAH LEGAL SERVICES

Org PageRecipient Profile

Asheville, NC

PURPOSE: MISSION SUPPORT

$50,320

Asheville, NC

PURPOSE: MISSION SUPPORT

$50,000

Asheville, NC

PURPOSE: MISSION SUPPORT

$36,060

Asheville, NC

PURPOSE: MISSION SUPPORT

$19,950
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 3 grants that Deerfield Episcopal Retirement Comm Inc has recieved totaling $12,792.

Awarding OrganizationAmount
The Community Foundation Of Western North Carolina Inc

Asheville, NC

PURPOSE: ASSISTING PEOPLE IN NEED

$7,500
Schwab Charitable Fund

San Francisco, CA

PURPOSE: HUMAN SERVICES

$5,260
Amazonsmile Foundation

Seattle, WA

PURPOSE: GENERAL SUPPORT

$32
View Grant Recipient Profile

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