Clarewood House Inc
- Assets
- $37.9m
- Revenue
- $10.8m
- Investments
- $282.4k
- Employees
- 231
- Location
- Houston, TX
- Founding
- 11/1964
- Data as of
- 12/2023
- EIN
- 74-1468123
Organization Overview
Clarewood House Inc is located in Houston, TX. The organization was established in 1964. 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. As of 12/2023, Clarewood House Inc employed 231 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Clarewood House 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 12/2023, Clarewood House Inc generated $10.8m in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (1.5%) each year. All expenses for the organization totaled $11.2m during the year ending 12/2023. 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
CLAREWOOD HOUSE, INC. PROVIDES A RESIDENTIAL RETIREMENT COMMUNITY FOR THE ELDERLY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CLAREWOOD HOUSE INC. IS A FAITH-BASED RESIDENTIAL RETIREMENT COMMUNITY THAT PROVIDES INDEPENDENT LIVING APARTMENTS, ASSISTED LIVING, AND SKILLED NURSING CARE FOR THE ELDERLY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Patricia Maddox President | OfficerTrustee | 1 | $0 |
Jim Harrison Vice President | OfficerTrustee | 1 | $0 |
Molly Abshire Secretary/treasurer | OfficerTrustee | 1 | $0 |
Ellen Edwards Director | Trustee | 1 | $0 |
Caroline Freeman Director | Trustee | 1 | $0 |
Greg Krause Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Legacy Healthcare Services Therapy Services | 12/30/23 | $497,383 |
Nursedash Staffing Services | 12/30/23 | $117,874 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $236,021 |
| Government grants | $233,345 |
| All other contributions, gifts, grants, and similar amounts not included above | $21,066 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $490,432 |
| Total Program Service Revenue | $9,351,940 |
| Investment income | $1,016,282 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$58,062 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,800,592 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $236,021 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $388,816 |
| Compensation of current officers, directors, key employees. | $194,408 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,353,945 |
| Pension plan accruals and contributions | $244,562 |
| Other employee benefits | $378,487 |
| Payroll taxes | $423,365 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $23,319 |
| Fees for services: Accounting | $44,006 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $90,207 |
| Fees for services: Other | $213,481 |
| Advertising and promotion | $64,337 |
| Office expenses | $49,956 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,184,414 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $11,484 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,003,322 |
| Insurance | $300,052 |
| All other expenses | $14,982 |
| Total functional expenses | $11,223,987 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $311,297 |
| Savings and temporary cash investments | $2,048,389 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $326,463 |
| 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 | $84,814 |
| Net Land, buildings, and equipment | $10,407,474 |
| Investments—publicly traded securities | $24,402,067 |
| Investments—other securities | $282,392 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $87,046 |
| Total assets | $37,949,942 |
| Accounts payable and accrued expenses | $774,229 |
| 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 | $474,569 |
| Total liabilities | $1,248,798 |
| Net assets without donor restrictions | $36,099,750 |
| Net assets with donor restrictions | $601,394 |
| 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 | $37,949,942 |