Southminster Inc
- Assets
- $251.3m
- Revenue
- $46.6m
- Investments
- $0.0
- Employees
- 582
- Location
- Charlotte, NC
- Founding
- 11/1984
- Data as of
- 09/2022
- EIN
- 56-1443222
Organization Overview
Southminster Inc is located in Charlotte, NC. The organization was established in 1984. 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 09/2022, Southminster Inc employed 582 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Southminster 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 09/2022, Southminster Inc generated $46.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.3% each year. All expenses for the organization totaled $46.6m during the year ending 09/2022. While expenses have increased by 7.4% per year over the past 7 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 2015, Southminster Inc has awarded 151 individual grants totaling $3,979,914. 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE CONTINUING CARE TO RESIDENTS OF SOUTHMINSTER, INC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONTINUING CARE RETIREMENT COMMUNITYPROVIDE A CONTINUUM OF SERVICES (INDEPENDENT LIVING, ASSISTED LIVING, NURSING) TO OLDER ADULTS THAT ALLOWS THEM TO LIVE INDEPENDENTLY AND AS ACTIVELY AS THEIR FACULTIES AND STRENGTH PERMIT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ben Gilchrist President & CEO | Officer | 39 | $363,848 |
Kenda Laughey Cfo/asst Treasurer | Officer | 39 | $244,609 |
Mary Cooper Coo/asst Secretary | Officer | 40 | $228,034 |
Stewart Wiley Marketing Director | 40 | $178,682 | |
Arnoldo Marquez It Director | 40 | $154,603 | |
Salem Suber Dining Services Director | 40 | $145,715 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mako Medical Laboratories Llc Covid Testing | 9/29/22 | $593,810 |
Bluewater Design-build Llc Architect/construction | 9/29/22 | $986,813 |
Sysco Charlotte Llc Food Distributor | 9/29/22 | $1,236,114 |
Applied Innovation Services Apartment Repairs/painting | 9/29/22 | $146,751 |
The Ashton Clause Group Llc (Narrative) Consulting | 9/29/22 | $112,950 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,911,845 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,384,631 |
| Noncash contributions included in lines 1a–1f | $19,998 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,296,476 |
| Total Program Service Revenue | $40,336,896 |
| Investment income | $1,036,923 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $276,172 |
| Net Gain/Loss on Asset Sales | $1,616,042 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $46,562,509 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $806,776 |
| Grants and other assistance to domestic individuals. | $596,631 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,037,289 |
| Compensation of current officers, directors, key employees. | $772,819 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $13,935,246 |
| Pension plan accruals and contributions | $402,814 |
| Other employee benefits | $2,577,528 |
| Payroll taxes | $1,061,450 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $28,860 |
| Fees for services: Accounting | $61,139 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $151,383 |
| Fees for services: Other | $333,612 |
| Advertising and promotion | $188,625 |
| Office expenses | $165,274 |
| Information technology | $455,199 |
| Royalties | $0 |
| Occupancy | $1,442,495 |
| Travel | $1,436 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $50,327 |
| Interest | $6,619,198 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $10,507,767 |
| Insurance | $378,518 |
| All other expenses | $0 |
| Total functional expenses | $46,616,748 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,494,723 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $597,224 |
| Accounts receivable, net | $382,860 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $84,775 |
| Prepaid expenses and deferred charges | $1,684,999 |
| Net Land, buildings, and equipment | $207,209,234 |
| Investments—publicly traded securities | $38,602,290 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $211,167 |
| Total assets | $251,267,272 |
| Accounts payable and accrued expenses | $5,475,407 |
| Grants payable | $0 |
| Deferred revenue | $93,805,553 |
| Tax-exempt bond liabilities | $149,009,015 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $20,652,786 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $218,680 |
| Total liabilities | $269,161,441 |
| Net assets without donor restrictions | -$20,244,482 |
| Net assets with donor restrictions | $2,350,313 |
| 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 | $251,267,272 |
Grants Awarded
Over the last fiscal year, Southminster Inc has awarded $769,283 in support to 14 organizations.
| Grant Recipient | Amount |
|---|---|
Charlotte, NC PURPOSE: PROGRAMMING, SEED FUNDING FOR BRAIN HEALTH PILOT PROGRAM | $261,226 |
UNC CHARLOTTE PURPOSE: CARGIVER STUDY, DONATION | $119,197 |
Charlotte, NC PURPOSE: TO SUPPORT SENIOR PROGRAMMING AND SERVICES IN THE GREATER CHARLOTTE COMMUNITY | $115,000 |
Charlotte, NC PURPOSE: ARTSREACH PROGRAMMING, STUDIO 345, AND SPONSORING A SCHOLARSHIP | $75,000 |
Charlotte, NC PURPOSE: SCHOLARSHIP, DONATION | $62,500 |
Charlotte, NC PURPOSE: ANNUAL SUPPORT FOR SENIORS LIVING AT HOME IN COMMUNITY - SOCIAL SUPPORT, TRANSPORTATION, SERVICE COORDINATION, SCHOLARSHIP FOR LOW-INCOME SENIORS | $46,860 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Southminster Inc has recieved totaling $159,154.
| Awarding Organization | Amount |
|---|---|
Dickson Foundation Inc Charlotte, NC PURPOSE: GENERAL SUPPORT | $100,000 |
Foundation For The Carolinas Charlotte, NC PURPOSE: CHARITABLE GIFT | $40,799 |
Schwab Charitable Fund San Francisco, CA PURPOSE: HUMAN SERVICES | $12,350 |
Johnson Charitable Gift Fund Cincinnati, OH PURPOSE: GENERAL FUND | $6,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $5 |
Endowment Analysis
| Beg. Balance | $43,900 |
| Other Expense | $43,900 |
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 |