Presbyterian Homes Foundation Inc
- Assets
- $51.8m
- Revenue
- $6.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Colfax, NC
- Founding
- 07/1992
- Data as of
- 09/2021
- EIN
- 58-2004356
Organization Overview
Presbyterian Homes Foundation Inc is located in Colfax, NC. The organization was established in 1992. According to its NTEE Classification (L22) the organization is classified as: Senior Citizens Housing & Retirement Communities, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Presbyterian Homes Foundation 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, Presbyterian Homes Foundation Inc generated $6.7m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 16.8% each year . All expenses for the organization totaled $2.2m during the year ending 09/2021. While expenses have increased by 14.1% 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
TO SUPPORT AFFILIATES THE PRESBYTERIAN HOMES, INC AND GLENAIRE, INC WHOSE VISION 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:
Part 3 - Line 4a
THE PRESBYTERIAN HOMES FOUNDATION, INC. PROVIDES FINANCIAL SUPPORT THROUGH GRANTS TO THE PRESBYTERIAN HOMES, INC. AND GLENAIRE, INC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Timothy J Webster Assistant Secretary | Officer | 0 | $0 |
Julia F Hanover Assistant Treasurer | Officer | 0 | $0 |
David Burns Board Member | Trustee | 1 | $0 |
Sam Nichols Treasurer | Trustee | 1 | $0 |
Elizabeth Cooley Board Member | Trustee | 1 | $0 |
George Ragan Jr Board Member | Trustee | 1 | $0 |
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 | $1,356,851 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,356,851 |
| Total Program Service Revenue | $0 |
| Investment income | $997,100 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $4,315,764 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,669,715 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $2,089,598 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $2,178,270 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,725,073 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $80,000 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $49,004,777 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $51,809,850 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| 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 | $559,009 |
| Total liabilities | $559,009 |
| Net assets without donor restrictions | $42,296,125 |
| Net assets with donor restrictions | $8,954,716 |
| 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 | $51,809,850 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Presbyterian Homes Foundation Inc has recieved totaling $18,860.
| Awarding Organization | Amount |
|---|---|
Network For Good Inc Washington, DC PURPOSE: UNRESTRICTED | $13,190 |
A Pat & Kathryne L Brown Foundation Inc High Point, NC PURPOSE: GENERAL FUND | $5,670 |
Endowment Analysis
| Beg. Balance | $33,362,191 |
| Earnings | $9,221,781 |
| Admin Expense | $88,670 |
| Net Contributions | $5,780,383 |
| Grants | $1,443,555 |
| Ending Balance | $46,832,130 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Glebe Inc Glen Allen, VA | $79,347,451 | $20,057,701 |
Cypress Of Charlotte Club Inc Charlotte, NC | $4,602,507 | $19,033,502 |
Lavender Mountain Senior Living Inc Mount Berry, GA | $141,195,331 | $5,176,789 |
Cypress Club Inc Hilton Head Island, SC | $31,122,152 | $20,067,120 |
Alliance Foundation Of Florida Inc Fairfax, VA | $3,980,019 | $2,209,632 |
Skidaway Health And Living Services Inc Savannah, GA | $89,340,251 | $17,567,308 |
Lake Prince Center Inc Newton, NC | $22,105,583 | $13,762,352 |
St George Village-Catholic Community Retirement Center Roswell, GA | $71,436,640 | $13,654,810 |
Wesley Homes Inc Atlanta, GA | $20,385,914 | $13,715,520 |
Jewish Home Life Communities Inc Atlanta, GA | $30,539,364 | $15,353,434 |
Lutheran Home At Trinity Oaks Inc Salisbury, NC | $16,250,206 | $13,832,203 |
Senior Living Foundation Inc Perimeter 400 Center Dunwoody, GA | $12,804,149 | $11,238,892 |