Wichita Falls Retirement Foundation
- Assets
- $25.0m
- Revenue
- $10.4m
- Investments
- $11.3m
- Employees
- 300
- Location
- Wichita Falls, TX
- Founding
- 07/1983
- Data as of
- 12/2022
- EIN
- 75-1875036
Organization Overview
Wichita Falls Retirement Foundation, operating under the name Rolling Meadows, is located in Wichita Falls, TX. The organization was established in 1983. 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 12/2022, Rolling Meadows employed 300 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rolling Meadows 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 12/2022, Rolling Meadows generated $10.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.7% each year. All expenses for the organization totaled $10.3m during the year ending 12/2022. While expenses have increased by 2.6% per year over the past 8 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
LOVE AND CARING ARE THE CENTER OF LIFE AT ROLLING MEADOWS. ROLLING MEADOWS WAS FOUNDED ON THE BIBLICAL BELIEF THAT EACH PERSON'S LIFE IS A GIFT FROM GOD AND IS MEANT TO BE LIVED IN DIGNITY, COMFORT AND SECURITY. ROLLING MEADOWS SEEKS TO PROVIDE THE ENVIRONMENT FOR THE FULFILLMENT OF THAT GOD-GIVEN RIGHT, AND THE STAFF WORKS TO PROVIDE THE SERVICES, WHICH ARE INTEGRAL TO SATISFYING SENIOR ADULTS. THE ORGANIZATION IS GUIDED BY CHRISTIAN PRINCIPLES. IT IS THE ORGANIZATION'S DESIRE AND INTENT TO PROVIDE A PLACE, PROGRAM, TYPE OF CARE AND PHILOSOPHY THAT WILL MAKE LIFE PLEASANT, MEANINGFUL, AND SECURE FOR EACH RESIDENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION OWNS & OPERATES A 170 UNIT RETIREMENT COMMUNITY, PERSONAL HEALTH CARE CENTER, AND AN ASSISTED LIVING MEMORY CARE FACILITY. THE FACILITY PROVIDES VARIOUS SERVICES FOR THE ELDERLY COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cindy Noe Executive Director | 40 | $120,366 | |
Gary Silverman Chairman Of The Board | OfficerTrustee | 0.2 | $0 |
Monica Horton Secretary | OfficerTrustee | 0.1 | $0 |
Mike Crocker Vice Chairman Of The Board | OfficerTrustee | 0.1 | $0 |
Randy Martin Member | Trustee | 0.1 | $0 |
Dr Clara Latham Member | Trustee | 0.1 | $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 | $28,105 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $28,105 |
| Total Program Service Revenue | $9,832,267 |
| Investment income | $286,565 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $288,483 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,435,420 |
| 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. | $120,366 |
| Compensation of current officers, directors, key employees. | $120,366 |
| Compensation to disqualified persons | $3,888,997 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $196,239 |
| Payroll taxes | $316,196 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $14,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $41,835 |
| Fees for services: Other | $0 |
| Advertising and promotion | $199,492 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $591,178 |
| Travel | $5,781 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $446,914 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $685,566 |
| Insurance | $420,439 |
| All other expenses | $103,979 |
| Total functional expenses | $10,267,412 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,600 |
| Savings and temporary cash investments | $5,570,785 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $341,817 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $38,417 |
| Prepaid expenses and deferred charges | $229,514 |
| Net Land, buildings, and equipment | $7,506,113 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $11,319,190 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $12,806 |
| Total assets | $25,020,242 |
| Accounts payable and accrued expenses | $590,505 |
| 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 | $13,578,805 |
| Unsecured mortgages and notes payable | $15,393 |
| Other liabilities | $422,458 |
| Total liabilities | $14,607,161 |
| Net assets without donor restrictions | $10,413,081 |
| 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 | $25,020,242 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Wichita Falls Retirement Foundation has recieved totaling $27,500.
| Awarding Organization | Amount |
|---|---|
Wichita Falls Area Community Foundation Wichita Falls, TX PURPOSE: Human Service | $27,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Presbyterian Village North Dallas, TX | $220,743,885 | $46,469,442 |
Montereau Inc Tulsa, OK | $185,837,162 | $41,785,985 |
Buckner Senior Living Inc Dallas, TX | $215,344,263 | $20,049,948 |
La Vida Llena Albuquerque, NM | $163,809,368 | $31,265,301 |
The Legacy Midtown Park Inc Dallas, TX | $173,980,133 | $7,399,995 |
Bst Senior Living West Inc San Antonio, TX | $112,083,644 | $24,466,156 |
Incarnate Word Retirement Community Inc San Antonio, TX | $10,969,268 | $19,152,851 |
Neighborhood In Rio Rancho Rio Rancho, NM | $43,319,912 | $14,930,529 |
Woldenberg Village Inc New Orleans, LA | $27,827,418 | $14,584,574 |
Bst Senior Living East Inc San Antonio, TX | $59,251,034 | $9,119,781 |
George Gervin Youth Center Inc San Antonio, TX | $26,261,586 | $16,043,559 |
Methodist Retirement Communities The Woodlands, TX | $24,592,359 | $13,174,524 |