Episcopal Retirement Services FY2020 filing

Tax-deductible

Cincinnati, OH501(c)(3)Since 2015HousingEIN 47-5651061Revenue $7.7M in FY2020

On file with the IRSepiscopalretirement.com3870 Virginia Ave, 45227-3431 · Cincinnati, OHTax-exempt since Jan 2016Supporting org, Type III (functionally integrated) — 509(a)(3)

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The purpose of the corporation is to be organized and operated exclusively for the benefit of, to perform the functions of, and to carry out the purposes of the religious and charitable purposes of Episcopal Retirement homes, INC. And Episcopal Retirement Services foundation.

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $1.3M a year · 17% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.6 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
6
named funders · $935K
Looks good: 6 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$5.8M
23% of total assets
Looks good: liabilities are 23% of assets; 50% or less.
Pt X · Ln 26
Independent board members
19
of 19 voting members
Looks good: 19 of 19 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$7.7M
Spent
$7.2M
To programs
100%
Net assets
$19.1M
By yearFY2020–FY2024
Revenue
$7.7M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$7.7M
FY2021$9.3M
FY2022$8.2M
FY2023$6.2M
FY2024$8.0M
Expenses
$7.2M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$7.2M
FY2021$7.8M
FY2022$5.3M
FY2023$6.1M
FY2024$6.4M
Net assets
$19.1M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$19.1M
FY2021$21.2M
FY2022$20.6M
FY2023$20.3M
FY2024$21.8M

From the FY2020 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jan 2016.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $7.2M

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

25 people listed on the 990.

Part VII, Section A · reportable compensation
CEO/President
$0Pt VII · Sec A
$0Pt VII · Sec A
VP Affordable Living and in Home Services
$0Pt VII · Sec A
VP of Resident Housing
$0Pt VII · Sec A
VP of HR and Ord Devl
$0Pt VII · Sec A
VP of Marketing and Public Relations
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
See Episcopal Retirement Services executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Provides retirement housing, healthcare, and support services for older adults through religious and charitable programs.

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Provided by the organization

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2 programs · $7.2M · in their own filed words · FY2020
01

Affordable Senior Living

All older adults, regardless of income, deserve to live in a safe, comfortable and enriching environment. Across our region and around the country, the need for affordable living for seniors is growing at an alarming pace.

$6.7Mprogram expense
02

Episcopal Retirement Services Development, LLC

The episcopal retirement services development LLC is an ohio limited liability company of which ers is the sole member.

$538Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
See all 6 funders →

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$7.7M
Ln 12
Other incomeLn 4–11$3.5M
Fees for servicesLn 2g$3.1M
Gifts and grantsLn 1h$723K
Money outPt IX
$7.2M
Ln 25
Programscol B$7.2M
Owns and owesPt X
$19.1M
net assets · Ln 32
Cash and savingsLn 1–2$337K
Total assetsLn 16$24.9M
LiabilitiesLn 26$5.8M
PeoplePt VI, VII
25
listed · VII A
PaidVII A0
Voting boardVI 1a19
IndependentVI 1b19
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$723K
Fees for servicesLn 2g$3.1M
Investment incomeLn 3$303K
Other incomeLn 4–11$3.5M
Gains on assetsLn 7−$37K
Total revenueLn 12$7.7M
Assets in detailPt X, end of year
CashLn 1$337K
Cash and savings togetherLn 1–2$337K
InvestmentsLn 11–13$3.6M
Land, buildings, equipmentLn 10c$268K
Other assetsLn 15$18.1M
Total assetsLn 16$24.9M
LiabilitiesLn 26$5.8M
Net assetsLn 32$19.1M
OperationsPt I, VI
EmployeesI 50
VolunteersI 6169
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$1.6M$337K
InvestmentsLn 11–13$3.0M$3.6M
Land, buildings, equipmentLn 10c$364K$268K
Total assetsLn 16$20.9M$24.9M
LiabilitiesLn 26$3.7M$5.8M
Net assetsLn 32$17.1M$19.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$3.6M$3.6M
Other employee benefitsLn 9$741K$741K
Payroll taxesLn 10$277K$277K
Accounting feesLn 11c$18K$18K
Other fees for servicesLn 11g$2.0M$2.0M
Advertising and promotionLn 12$6K$6K
Office expensesLn 13$62K$62K
OccupancyLn 16$6K$6K
InterestLn 20$110K$110K
Depreciation, depletion and amortizationLn 22$96K$96K
Other expenses (24a–d)Ln 24$174K$174K
All other expensesLn 24e$119K$119K
Total functional expensesLn 25$7.2M$7.2M$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $8.0M$6.4M$1.6M$21.8M 990 PDF
FY2023 $6.2M$6.1M$153K$20.3M 990 PDF
FY2022 $8.2M$5.3M$2.9M$20.6M 990 PDF
FY2021 $9.3M$7.8M$1.5M$21.2M 990 PDF
FY2020 Viewing $7.7M$7.2M$494K$19.1M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2020 990 (6 parts)
Part I · Summary $7,686,125 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $21,919$722,604
I-9 Program service revenuePrior year $3,061,856$3,123,318
I-10 Investment incomePrior year $80,759$303,006
I-11 Other revenuePrior year $3,389,599$3,537,197
I-12 Total revenuePrior year $6,554,133$7,686,125
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $4,369,837$4,644,193
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $2,628,803$2,547,434
I-18 Total expensesPrior year $6,998,640$7,191,627
I-19 Revenue less expensesPrior year −$444,507$494,498
Part VI · Governance 19 of 19 board members independent, 1 to look at
VI-1a Voting members of the governing body19
VI-1b Independent voting members19
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $7,686,125 across 8 lines filed
VIII-1d Related organizations$211,773
VIII-1f All other contributions, gifts and grants$510,831
VIII-1h Total contributions, gifts and grants$722,604
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $3,123,318$3,123,318
VIII-3 Investment incomeExcluded from tax $339,989$339,989
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$36,983−$36,983
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $3,749,854 · Excluded from tax −$212,657$3,537,197
VIII-12 Total revenueRelated to mission $6,873,172 · Unrelated business $0 · Excluded from tax $90,349$7,686,125
Part IX · Statement of functional expenses $7,191,627 across 12 lines filed
IX-7 Other salaries and wagesPrograms $3,626,830$3,626,830
IX-9 Other employee benefitsPrograms $740,603$740,603
IX-10 Payroll taxesPrograms $276,760$276,760
IX-11c Accounting feesPrograms $18,011$18,011
IX-11g Other fees for servicesPrograms $1,955,942$1,955,942
IX-12 Advertising and promotionPrograms $6,345$6,345
IX-13 Office expensesPrograms $62,128$62,128
IX-16 OccupancyPrograms $6,086$6,086
IX-20 InterestPrograms $109,820$109,820
IX-22 Depreciation, depletion and amortizationPrograms $95,741$95,741
IX-24 Other expenses (24a–d)Programs $174,113$174,113
IX-24e All other expensesPrograms $119,248$119,248
IX-25 Total functional expensesPrograms $7,191,627 · Management $0 · Fundraising $0$7,191,627
Part X · Balance sheet $24,906,332 assets, 16 lines filed
X-1 Cash, non-interest-bearingStart of year $1,640,527$337,168
X-4 Accounts receivableStart of year $2,838,750$2,562,410
X-9 Prepaid expenses and deferred chargesStart of year $0$4,379
X-10c Land, buildings and equipment, netStart of year $363,567$267,828
X-12 Other securitiesStart of year $2,312,133$2,778,978
X-13 Program-related investmentsStart of year $646,807$826,527
X-15 Other assetsStart of year $13,051,049$18,129,042
X-16 Total assetsStart of year $20,852,833$24,906,332
X-17 Accounts payable and accrued expensesStart of year $946,757$1,261,767
X-19 Deferred revenueStart of year −$294,079$1,471,585
X-25 Other liabilitiesStart of year $3,065,869$3,079,495
X-26 Total liabilitiesStart of year $3,718,547$5,812,847
X-27 Net assets without donor restrictionsStart of year $16,434,316$18,393,515
X-28 Net assets with donor restrictionsStart of year $699,970$699,970
X-32 Total net assets or fund balancesStart of year $17,134,286$19,093,485
X-33 Total liabilities and net assetsStart of year $20,852,833$24,906,332
Part XI · Reconciliation of net assets $19,093,485 net assets at year end
XI-1 Total revenue$7,686,125
XI-2 Total expenses$7,191,627
XI-3 Revenue less expenses$494,498
XI-4 Net assets at start of year$17,134,286
XI-5 Net unrealized gains (losses) on investments$435,659
XI-9 Other changes in net assets$1,029,042
XI-10 Net assets at end of year$19,093,485

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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