Glen Retirement System
- Assets
- $63.6m
- Revenue
- $16.2m
- Investments
- $0.0
- Employees
- 262
- Location
- Shreveport, LA
- Founding
- 03/1935
- Data as of
- 04/2022
- EIN
- 72-0428013
Organization Overview
Glen Retirement System is located in Shreveport, LA. The organization was established in 1935. 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 04/2023, Glen Retirement System employed 262 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Glen Retirement System 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 04/2022, Glen Retirement System generated $16.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.4% each year. All expenses for the organization totaled $17.8m during the year ending 04/2022. While expenses have increased by 3.5% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE GLEN RETIREMENT SYSTEM IS TO ENRICH THE LIVES OF OLDER PEOPLE THROUGH HOUSING, HEALTHCARE AND SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEMORY CARE ASSISTED LIVING IN TWO SECURED BUILDINGS WITH A HOME LIKE ENVIRONMENT AND ACTIVITIES GEARED FOR THOSE OVER 62 WITH MEMORY LOSS. 30 APARTMENTS WITH AN AVERAGE OCCUPANCY OF 97% PROVIDING 10,423 DAYS OF CARE IN FISCAL YEAR ENDING 4/30/23.
INDEPENDENT LIVING / ASSISTED LIVING RENTAL UNITS FOR THOSE 62 OR OLDER TO LIVE COMFORTABLY WITH THE OPTION TO ADD SERVICES AS CARE LEVEL CHANGES. 100 APARTMENTS WITH AN AVERAGE OCCUPANCY OF 79% PROVIDING 29,050 DAYS OF CARE IN FISCAL YEAR ENDING 4/30/23.
SKILLED NURSING FACILITY LICENSED FOR 126 BEDS, MEDICARE AND MEDICAID CERTIFIED. DESIGNED WITH 5 HOUSEHOLDS WITH TOTAL OF 121 ACTIVE BEDS TO PROVIDE A NURTURING ENVIRONMENT. AN AVERAGE OCCUPANCY OF 65% WITH A PAYOR MIX OF 45% PRIVATE PAY, 41% MEDICAID AND 14% MEDICARE PROVIDING 28,485 PATIENT DAYS IN FISCAL YEAR ENDING 4/30/23.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Debra Williams President & CEO | Officer | 40 | $166,217 |
Michelle Greer Administrator | 40 | $130,700 | |
Marie Davis Chief Financial Officer | Officer | 40 | $124,252 |
Natasha Sudarto Director Of Nursing | 40 | $119,707 | |
Carolyn Tillman 1st Vice Chair | OfficerTrustee | 2 | $0 |
Marla Simmons Chair Of The Board | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Alpha Nursing Contract Nursing | 4/29/23 | $303,162 |
Summit Health Rehab Rehab - Therapy | 4/29/23 | $601,615 |
Elite Health Solutions Contract Nursing | 4/29/23 | $229,740 |
Dmr Mechanical Repair Services | 4/29/23 | $198,333 |
Jdro Llc Lawn Services | 4/29/23 | $161,902 |
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 | $100,602 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $100,602 |
| Total Program Service Revenue | $13,843,843 |
| Investment income | $248,321 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $13,875 |
| Net Gain/Loss on Asset Sales | $1,675,194 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $2,633 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $16,204,462 |
| 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. | $296,537 |
| Compensation of current officers, directors, key employees. | $30,076 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,423,962 |
| Pension plan accruals and contributions | $46,803 |
| Other employee benefits | $561,109 |
| Payroll taxes | $582,046 |
| Fees for services: Management | $48,000 |
| Fees for services: Legal | $14,606 |
| Fees for services: Accounting | $116,144 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $963,545 |
| Advertising and promotion | $225,861 |
| Office expenses | $365,474 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $949,712 |
| Travel | $26,626 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $23,647 |
| Interest | $1,280,107 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,757,398 |
| Insurance | $247,794 |
| All other expenses | $261,940 |
| Total functional expenses | $17,809,231 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $970,499 |
| Savings and temporary cash investments | $582,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $690,706 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $31,346 |
| Prepaid expenses and deferred charges | $311,399 |
| Net Land, buildings, and equipment | $47,889,975 |
| Investments—publicly traded securities | $12,124,108 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,032,731 |
| Total assets | $63,632,764 |
| Accounts payable and accrued expenses | $1,678,648 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $46,134,535 |
| 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 | $827,078 |
| Total liabilities | $48,640,261 |
| Net assets without donor restrictions | $14,992,503 |
| Net assets with donor restrictions | $0 |
| 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 | $63,632,764 |