Maryfield Inc
- Assets
- $169.9m
- Revenue
- $31.2m
- Investments
- $0.0
- Employees
- 591
- Location
- High Point, NC
- Founding
- 03/1946
- Data as of
- 09/2021
- EIN
- 58-1363950
Organization Overview
Maryfield Inc is located in High Point, NC. The organization was established in 1946. 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, Maryfield Inc employed 591 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Maryfield 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, Maryfield Inc generated $31.2m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.5% each year. All expenses for the organization totaled $28.9m during the year ending 09/2021. While expenses have increased by 1.8% 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
FULL SERVICE RETIREMENT COMMUNITY THAT IS COMMITTED TO DEMONSTRATING GOD'S LOVE TO SENIORS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AT THE END OF FISCAL YEAR 2021, MARYFIELD INC. WAS PROVIDING HOUSING AND HEALTH RELATED SERVICES TO APPROXIMATELY 365 SENIORS. DURING THE YEAR THE ORGANIZATION PROVIDED APPROXIMATELY $505,000 IN BENEVOLENT ASSISTANCE TO RESIDENTS UNABLE TO FULLY PAY THEIR CHARGES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Newman CEO & President | OfficerTrustee | 60 | $266,203 |
Vonda Hollingsworth Vice President | Officer | 60 | $172,213 |
Ted Shalek CFO | Officer | 60 | $150,587 |
Rob Creel Dir Of Operations | Officer | 50 | $132,805 |
Melissa Miller Dir Of Marketing | 40 | $129,691 | |
William Snow Bencini Secretary | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Daniel Adams Unit Reburbishment | 9/29/21 | $427,731 |
Hollingsworth Landscaping Grounds Maintenance | 9/29/21 | $264,913 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $682,209 |
| All other contributions, gifts, grants, and similar amounts not included above | $717,602 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,399,811 |
| Total Program Service Revenue | $28,193,605 |
| Investment income | $601,864 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $561,723 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $31,151,069 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $7,246 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $721,808 |
| Compensation of current officers, directors, key employees. | $721,808 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $10,287,493 |
| Pension plan accruals and contributions | $192,589 |
| Other employee benefits | $2,343,282 |
| Payroll taxes | $775,526 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $14,216 |
| Fees for services: Accounting | $104,139 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $124,682 |
| Fees for services: Other | $819,024 |
| Advertising and promotion | $214,102 |
| Office expenses | $2,180,100 |
| Information technology | $134,627 |
| Royalties | $0 |
| Occupancy | $1,153,554 |
| Travel | $222,705 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $45,888 |
| Interest | $2,597,655 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,089,170 |
| Insurance | $346,345 |
| All other expenses | $50,975 |
| Total functional expenses | $28,942,522 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,829,307 |
| Savings and temporary cash investments | $1,340,382 |
| Pledges and grants receivable | $903,048 |
| Accounts receivable, net | $2,872,322 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $53,951 |
| Prepaid expenses and deferred charges | $104,756 |
| Net Land, buildings, and equipment | $109,578,725 |
| Investments—publicly traded securities | $45,876,200 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,306,879 |
| Total assets | $169,865,570 |
| Accounts payable and accrued expenses | $5,156,649 |
| Grants payable | $0 |
| Deferred revenue | $29,678,052 |
| Tax-exempt bond liabilities | $107,727,938 |
| Escrow or custodial account liability | $0 |
| 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 | $3,535,605 |
| Total liabilities | $146,098,244 |
| Net assets without donor restrictions | $16,978,203 |
| Net assets with donor restrictions | $6,789,123 |
| 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 | $169,865,570 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Maryfield Inc has recieved totaling $1,533,350.
| Awarding Organization | Amount |
|---|---|
Earl And Kathryn Congdon Family Foundation Wilmington, DE PURPOSE: GENERAL & UNRESTRICTED | $1,452,871 |
Winston-Salem Foundation Winstonsalem, NC PURPOSE: 13 GRANT(S) FOR VARYING PURPOSES | $65,190 |
Usg Foundation Inc Chicago, IL PURPOSE: COMMUNITY & CIVIC SERVICES | $15,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $289 |
Endowment Analysis
| Beg. Balance | $2,331,896 |
| Earnings | $452,941 |
| Ending Balance | $2,784,837 |
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 |