Vernon Woods Retirement Community Inc
- Assets
- $5.5m
- Revenue
- $2.9m
- Investments
- $0.0
- Employees
- 0
- Location
- Marietta, GA
- Founding
- 03/2002
- Data as of
- 06/2021
- EIN
- 58-2575049
Organization Overview
Vernon Woods Retirement Community Inc is located in Marietta, GA. The organization was established in 2002. 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. Vernon Woods Retirement Community 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 06/2021, Vernon Woods Retirement Community Inc generated $2.9m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.4% each year. All expenses for the organization totaled $2.8m during the year ending 06/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O
Describe the Organization's Program Activity:
SEE SCHEDULE O
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Avril P Beckford MD Trustee & Chief Pediatric Off. | OfficerTrustee | 1 | $0 |
Candice L Saunders President & CEO | Officer | 1 | $0 |
John A Brennan Evp Chief Clin. Integ. Officer | Officer | 1 | $0 |
Leo E Reichert Evp & General Counsel | Officer | 1 | $0 |
Anthony J Budzinski Evp & CFO | Officer | 1 | $0 |
Kem M Mullins Evp Ambulatory & Bus. Dev. | Officer | 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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $2,920,417 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$2,800 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,937,013 |
| 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 | $1,823,759 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $19,404 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $43,710 |
| Office expenses | $32,465 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $267,535 |
| 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 | $0 |
| Depreciation, depletion, and amortization | $213,488 |
| Insurance | -$1,029 |
| All other expenses | $0 |
| Total functional expenses | $2,818,431 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,484,845 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $36,371 |
| Net Land, buildings, and equipment | $3,992,540 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,513,756 |
| Accounts payable and accrued expenses | $289,370 |
| 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 | $0 |
| Total liabilities | $289,370 |
| Net assets without donor restrictions | $2,031,697 |
| Net assets with donor restrictions | $3,192,689 |
| 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 | $5,513,756 |
Endowment Analysis
| Beg. Balance | $3,275,988 |
| Other Expense | $83,299 |
| Ending Balance | $3,192,689 |
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