Glen Retirement System
- Assets
- $63.6m
- Revenue
- $16.2m
- Investments
- $0.0
- Employees
- 266
- 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 04/2022, Glen Retirement System employed 266 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
990T
Mission & Program ActivityExcerpts From the 990T 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:
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 96% PROVIDING 10,496 DAYS OF CARE IN FISCAL YEAR ENDING 4/30/22.
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 83% PROVIDING 30,191 DAYS OF CARE IN FISCAL YEAR ENDING 4/30/22.
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 68% WITH A PAYOR MIX OF 44% PRIVATE PAY, 40% MEDICAID AND 16% MEDICARE PROVIDING 29,641 PATIENT DAYS IN FISCAL YEAR ENDING 4/30/22.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Debra Williams Chief Executive Officer | Officer | 40 | $162,575 |
Marie Davis Chief Financial Officer | Officer | 40 | $132,028 |
Michelle Greer Administrator, Village Health | 40 | $122,644 | |
Natasha Sudarto Don | 40 | $101,846 | |
Susan Adams Second Vice Chair | OfficerTrustee | 2 | $0 |
Connie Posner First Vice Chair | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Summit Health Rehab Rehab - Therapy | 4/29/22 | $472,875 |
Ari Inc Financial Consultant | 4/29/22 | $121,166 |
Elite Health Solutions Contract Nursing | 4/29/22 | $377,323 |
Dmr Mechanical Building Repairs | 4/29/22 | $191,107 |
Hord Copeland Macht Inc Architect | 4/29/22 | $162,921 |
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 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Glen Retirement System has recieved totaling $19,625.
| Awarding Organization | Amount |
|---|---|
Community Foundation Of North Louisiana Shreveport, LA PURPOSE: GIVE FOR GOOD GRANT; GENERAL SUPPORT | $18,097 |
Paul And Betty Mcdonald Foundation Shreveport, LA PURPOSE: UNRESTRICTED GIFT TO 501(C)(3) ORGANIZATION | $1,500 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $28 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Buckingham Senior Living Community Inc Houston, TX | $218,611,316 | $37,036,824 |
Christian Care Center Inc Mesquite, TX | $74,221,740 | $38,224,104 |
Bph Holding Co Inc Houston, TX | $217,127,228 | $37,812,066 |
Morningside Ministries San Antonio, TX | $133,717,947 | $38,051,355 |
Cumberland Rest Home Trinity Terrace Fort Worth, TX | $284,578,418 | $42,657,417 |
Baptist Community Services Amarillo, TX | $103,635,790 | $32,393,349 |
Manor Park Inc Midland, TX | $107,955,732 | $31,983,916 |
The Army Retirement Residence Foundation - San Antonio San Antonio, TX | $4,285,363 | $28,711,677 |
St James Place Of Baton Rouge Baton Rouge, LA | $72,313,074 | $25,820,811 |
Carillon Inc Lubbock, TX | $54,922,935 | $25,109,612 |
Bph Holding Co Inc Austin, TX | $121,151,159 | $22,617,452 |
Christwood Covington, LA | $68,778,452 | $23,308,360 |