Maryfield Inc
- Assets
- $170.0m
- Revenue
- $35.4m
- Investments
- $0.0
- Employees
- 672
- Location
- High Point, NC
- Founding
- 03/1946
- Data as of
- 09/2023
- 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 09/2023, Maryfield Inc employed 672 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 09/2023, Maryfield Inc generated $35.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.5% each year. All expenses for the organization totaled $35.7m during the year ending 09/2023. While expenses have increased by 4.0% per year over the past 8 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
2023
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 2023, MARYFIELD INC. WAS PROVIDING HOUSING AND HEALTH RELATED SERVICES TO APPROXIMATELY 450 SENIORS. DURING THE YEAR THE ORGANIZATION PROVIDED APPROXIMATELY $289,000 IN BENEVOLENT ASSISTANCE TO RESIDENTS UNABLE TO FULLY PAY THEIR CHARGES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sister Lucy Hennessy Chairperson | Trustee | 40 | $0 |
Gerald Gunzenhauser Jr Vice Chairperson | Trustee | 2 | $0 |
William Snow Bencini Secretary | Trustee | 2 | $0 |
Richard Newman CEO & President | Trustee | 60 | $272,972 |
Paul Breitbach Board Member | Trustee | 2 | $0 |
Earl Congdon Board Member | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Daniel Adams Contractor | 9/29/23 | $553,128 |
Hollingsworth Landscaping Landscaping | 9/29/23 | $340,817 |
Totally Floored (Alan S Morris) Flooring | 9/29/23 | $213,770 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,994,687 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,994,687 |
| Total Program Service Revenue | $31,278,686 |
| Investment income | $758,604 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$221,466 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $35,368,000 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $6,825 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $16,650,601 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $91,979 |
| Payroll taxes | $15,294 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $29,870 |
| Fees for services: Accounting | $128,188 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $135,980 |
| Fees for services: Other | $1,186,227 |
| Advertising and promotion | $271,826 |
| Office expenses | $2,570,388 |
| Information technology | $155,558 |
| Royalties | $0 |
| Occupancy | $1,274,355 |
| Travel | $318,214 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $88,188 |
| Interest | $3,770,245 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,532,969 |
| Insurance | $499,870 |
| All other expenses | $2,372 |
| Total functional expenses | $35,652,140 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,955,187 |
| Savings and temporary cash investments | $887,691 |
| Pledges and grants receivable | $1,185,178 |
| Accounts receivable, net | $3,192,810 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $53,357 |
| Prepaid expenses and deferred charges | $214,994 |
| Net Land, buildings, and equipment | $127,864,140 |
| Investments—publicly traded securities | $29,616,588 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,993,270 |
| Total assets | $169,963,215 |
| Accounts payable and accrued expenses | $3,144,736 |
| Grants payable | $0 |
| Deferred revenue | $41,070,397 |
| Tax-exempt bond liabilities | $96,117,106 |
| 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 | $4,668,108 |
| Total liabilities | $145,000,347 |
| Net assets without donor restrictions | $19,564,810 |
| Net assets with donor restrictions | $5,398,058 |
| 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 | $169,963,215 |