Covenant Retirement Communities West
- Assets
- $399.7m
- Revenue
- $113.0m
- Investments
- $35.1m
- Employees
- 1,412
- Location
- Santa Barbara, CA
- Founding
- 07/1975
- Data as of
- 01/2019
- EIN
- 95-3472345
Covenant Retirement Communities West Overview
Covenant Retirement Communities West is located in Santa Barbara, CA. The organization was established in 1975. 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 01/2019, Covenant Retirement Communities West employed 1,412 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes.
For the year ending 01/2019, Covenant Retirement Communities West generated $113.0m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 1.5% each year. All expenses for the organization totaled $104.5m during the year ending 01/2019. While expenses have increased by 1.6% per year over the past 5 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
2019
Describe the Organization's Mission:
Part 3 - Line 1
CARE FOR SENIOR ADULTS
Describe the Organization's Program Activity:
Part 3 - Line 4a
RESIDENTIAL LIVING:THE NUMBER OF PERSONS WHO BENEFITED FROM THE SERVICES WE PROVIDED FOR THE YEAR ENDED JANUARY 31, 2019 WERE AS FOLLOWS:THERE WERE 1,142 RESIDENTS OCCUPYING 854 APARTMENTS AS OF 1/31/19. THE RESIDENCY FOR THE FISCAL YEAR TOTALED 406,395 RESIDENT DAYS.
ASSISTED LIVING & ASSISTED MEMORY SUPPORT:THE NUMBER OF PERSONS WHO BENEFITED FROM THE SERVICES WE PROVIDED FOR THE YEAR ENDED JANUARY 31, 2019 WERE AS FOLLOWS:THERE WERE A TOTAL OF 188 ASSISTED LIVING RESIDENTS AT 01/31/19. ASSISTED LIVING RESIDENCY FOR THE FISCAL YEAR TOTALED 70,052 PATIENT DAYS.
SKILLED NURSING:THE NUMBER OF PERSONS WHO BENEFITED FROM THE SERVICES WE PROVIDED FOR THE YEAR ENDED JANUARY 31, 2019 WERE AS FOLLOWS:THERE WERE A TOTAL OF 338 SKILLED CARE PATIENTS AT 01/31/19.SKILLED CARE RESIDENCY FOR THE FISCAL YEAR TOTALED 119,916 PATIENT DAYS.
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Covenant Retirement Communities West Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert T Howell Executive Director | Officer | 40 | $221,078 |
Richard P Miller Executive Director | Officer | 40 | $208,072 |
Charles Johnson Executive Director | Officer | 40 | $167,676 |
Laurie Small Executive Director | 40 | $154,691 | |
Darla C Lorenzen Admin-Healthcare | 40 | $132,133 | |
Lisa Fuller Director Of Sales | 40 | $126,109 |
Covenant Retirement Communities West Vendors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sodexo Inc & Affiliates Dining Services | 1/30/19 | $2,617,146 |
Michealsen Construction Co Construction Services | 1/30/19 | $2,052,205 |
Consonus Rehab Therapy Services | 1/30/19 | $1,262,143 |
Solid Rock Construction & Fine Construction Services | 1/30/19 | $962,999 |
Turlock Construction Co Construction Services | 1/30/19 | $947,795 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,534,921 |
| Investment income | $4,453,722 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$75,500 |
| Net Gain/Loss on Asset Sales | $1,214,649 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $112,955,280 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $48,626 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $651,835 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $36,329,310 |
| Pension plan accruals and contributions | $924,292 |
| Other employee benefits | $5,302,338 |
| Payroll taxes | $2,723,140 |
| Fees for services: Management | $550,275 |
| Fees for services: Legal | $189,974 |
| Fees for services: Accounting | $58,155 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $9,534,911 |
| Advertising and promotion | $547,121 |
| Office expenses | $4,284,353 |
| Information technology | $2,496,815 |
| Royalties | $0 |
| Occupancy | $5,074,510 |
| Travel | $214,690 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $186,635 |
| Interest | $4,402,039 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $14,422,805 |
| Insurance | $778,655 |
| All other expenses | $0 |
| Total functional expenses | $104,511,521 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $70,397 |
| Savings and temporary cash investments | $35,006 |
| Pledges and grants receivable | $949,648 |
| Accounts receivable, net | $6,735,305 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $418,643 |
| Investments—publicly traded securities | $82,296,842 |
| Investments—other securities | $35,073,788 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $118,616,487 |
| Total assets | $399,742,748 |
| Accounts payable and accrued expenses | $1,195,623 |
| Grants payable | $0 |
| Deferred revenue | $74,914,381 |
| Tax-exempt bond liabilities | $99,691,393 |
| Escrow or custodial account liability | $933,243 |
| 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 | $76,200,637 |
| Total liabilities | $252,935,277 |
| Net assets without donor restrictions | $141,724,779 |
| Net assets with donor restrictions | $5,038,271 |
| Capital stock or trust principal, or current funds | $44,421 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $146,807,471 |
Covenant Retirement Communities West Grants Recieved
Over the last fiscal year, we have identified 1 grants that Covenant Retirement Communities West has recieved totaling $5,900.
| Awarding Organization | Amount |
|---|---|
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $5,900 |
Endowment Analysis
| Beg. Balance | $49,078 |
| Earnings | -$2,583 |
| Ending Balance | $46,495 |
Covenant Retirement Communities West Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Humangood Norcal Pleasanton, CA | $515,729,709 | $179,074,156 |
Covia Communities Walnut Creek, CA | $466,296,281 | $147,771,280 |
Humangood Socal Glendale, CA | $291,759,666 | $103,269,411 |
Covenant Retirement Communities West Santa Barbara, CA | $399,742,748 | $112,955,280 |
Jewish Home San Francisco, CA | $304,306,014 | $78,278,566 |
Center For Elders Independence Oakland, CA | $120,957,275 | $86,372,308 |
Masonic Homes Of California San Francisco, CA | $1,081,181,439 | $41,944,438 |
Sequoia Living Inc San Francisco, CA | $270,494,642 | $79,829,017 |
Institute On Aging San Francisco, CA | $52,901,143 | $66,452,780 |
Grancell Village Of The Los Angeles Jewish Home For The Aging Reseda, CA | $74,926,928 | $60,255,490 |
Motion Picture And Television Fund Woodland Hills, CA | $136,364,222 | $44,605,548 |
Community Eldercare Of San Diego San Diego, CA | $47,826,056 | $75,967,495 |
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