Edgewood Summit INC FY2023 filing

Tax-deductible

Charleston, WV501(c)(3)Since 1990Human ServicesEIN 55-0701159

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The organization's primary exempt function is to provide, on a non-profit basis, long-term care facilities in the state of west virginia specifically designed to meet the physical, social and psychological needs of elderly and infirm persons, including but not limited to housing, buildings, structures, equipment, furnishings, programs and related health and other services contributing to their health, security, happiness and physical and mental well-being. The mission of Edgewood Summit is to provide an attractive, caring, comfortable senior living community. A secure environment and quality service that will be the hallmark of this community.

501(c)(3) charity; gifts are tax-deductible.
81¢ of each $1 spent went to programs.
$273K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2023 · 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
2 of 5
filings with a surplus
Average surplus $350K a year · 3% of revenue · last 5 filings
Worth a look: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
81%
of spending
Looks good: 81% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$273K
to officers and key staff · 2% of spending
Looks good: pay to officers and key staff is 2% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
<1 mo
of spending, in cash
Concern: 0.3 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$36.3M
92% of total assets
Concern: liabilities are 92% of assets; over 80%.
Pt X · Ln 26
Independent board members
18
of 18 voting members
Looks good: 18 of 18 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$13.1M
-2% vs prior year
Spent
$13.9M
To programs
81%
Net assets
$3.2M
By yearFY2020–FY2024
Revenue
$13.1M
FY2023▼ -2%
Revenue by fiscal year
FY2020$12.4M
FY2021$14.6M
FY2022$13.4M
FY2023$13.1M
FY2024$15.5M
FY2024$15.8M
Expenses
$13.9M
FY2023▲ +3%
Expenses by fiscal year
FY2020$12.4M
FY2021$12.4M
FY2022$13.5M
FY2023$13.9M
FY2024$15.1M
FY2024$16.1M
Net assets
$3.2M
FY2023▲ +5%
Net assets by fiscal year
FY2020$351K
FY2021$5.5M
FY2022$3.1M
FY2023$3.2M
FY2024$4.0M
FY2024$4.3M

From the FY2023 Form 990 (year ending June 2023) · 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 Mar 1991.

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

Where the money goes

81 cents of each dollar spent went to programs.

Program services 81% · $11.2M Management & general 19% · $2.7M

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

24 people listed on the 990; $273K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
Administrator
$145,409Pt VII · Sec A
Director of Marketing
$127,589Pt VII · Sec A
President
$0Pt VII · Sec A
Vice-President
$0Pt VII · Sec A
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Executive Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A

George Barker’s $148K as Administrator/Exec Dir as of 01/2025 is at the 18th percentile of top reported officer pay among 3122 $10–100M human services nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 4 named individuals · Part VII

NameFY2024FY2024FY2023FY2022FY2021FY2020
George Barker$147,886$148,522$145,409$139,828$142,170$131,043
Cherie Litton$132,857$127,603$127,589$117,752——
Greg Faber$108,388$104,207————
Vanessa Owsley$102,065—————

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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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 15aYes

Programs and updates

Provides senior living facilities and services for elderly and infirm individuals in West Virginia.

Provided by the organization

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2 programs · $11.2M · in their own filed words · FY2022
01

The organization provided, on a non-profit basis, housing, dining, housekeeping, laundry, transportation, activities, nursing and assisted living care, memory support care, and skilled nursing care through the operation of a CCRC - continuum care retirement community - that served 228 residents in 127 independent and 40 assisted living…

$10.8Mprogram expense
02

1. Edgewood summit, inc. Has been open for 28 years. Apartments are upgraded when turnover occurs; this includes fresh paint, new carpet. An enhanced upgrade to each unit includes - new kitchen and bath cabinets with solid surface countertops, new lighting, new kitchen appliances including washer and dryer.

$454Kprogram expense

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$13.1M
Ln 12
Fees for servicesLn 2g$12.2M
Investment incomeLn 3$899K
Other incomeLn 4–11$27K
Money outPt IX
$13.9M
Ln 25
Programscol B$11.2M
Managementcol C$2.7M
Owns and owesPt X
$3.2M
net assets · Ln 32
Cash and savingsLn 1–2$400K
Total assetsLn 16$39.5M
LiabilitiesLn 26$36.3M
PeoplePt VI, VII
24
listed · VII A
PaidVII A2
Voting boardVI 1a18
IndependentVI 1b18
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$6K
Fees for servicesLn 2g$12.2M
Investment incomeLn 3$899K
Other incomeLn 4–11$27K
Gains on assetsLn 7$489K
Total revenueLn 12$13.1M
Assets in detailPt X, end of year
CashLn 1$979
SavingsLn 2$399K
Cash and savings togetherLn 1–2$400K
InvestmentsLn 11–13$12.4M
Land, buildings, equipmentLn 10c$24.7M
Other assetsLn 15$591K
Total assetsLn 16$39.5M
LiabilitiesLn 26$36.3M
Net assetsLn 32$3.2M
OperationsPt I, VI
EmployeesI 5295
VolunteersI 60
Fiscal year endsHeaderJune
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 FY23End FY23
Cash and savingsLn 1–2$312K$400K
InvestmentsLn 11–13$14.4M$12.4M
Land, buildings, equipmentLn 10c$24.0M$24.7M
Total assetsLn 16$39.8M$39.5M
LiabilitiesLn 26$36.7M$36.3M
Net assetsLn 32$3.1M$3.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$5.2M$4.4M$792K
Pension plan contributionsLn 8$87K$74K$13K
Other employee benefitsLn 9$835K$706K$128K
Payroll taxesLn 10$418K$354K$64K
Management feesLn 11a$526K$526K
Legal feesLn 11b$10K$10K
Accounting feesLn 11c$50K$50K
Investment management feesLn 11f$71K$71K
Other fees for servicesLn 11g$791K$670K$122K
Advertising and promotionLn 12$215K$182K$33K
Office expensesLn 13$1.8M$1.5M$271K
Information technologyLn 14$196K$166K$30K
OccupancyLn 16$1.3M$1.1M$198K
TravelLn 17$43K$36K$7K
Conferences, conventions and meetingsLn 19$7K$6K$1K
Depreciation, depletion and amortizationLn 22$1.8M$1.5M$273K
InsuranceLn 23$387K$328K$60K
Other expenses (24a–d)Ln 24$245K$208K$38K
All other expensesLn 24e$67K$56K$11K
Total functional expensesLn 25$13.9M$11.2M$2.7M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $15.5M$15.1M$384K$4.0M 990 PDF
FY2023 Viewing $13.1M$13.9M−$781K$3.2M 990 PDF
FY2022 $13.4M$13.5M−$44K$3.1M 990 PDF
FY2021 $14.6M$12.4M$2.2M$5.5M 990 PDF
FY2020 $12.4M$12.4M−$17K$351K 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 FY2023 990 (4 parts)
Part VIII · Statement of revenue $13,146,344 across 8 lines filed
VIII-1f All other contributions, gifts and grants$6,000
VIII-1h Total contributions, gifts and grants$6,000
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $12,213,902$12,213,902
VIII-3 Investment incomeExcluded from tax $410,705$410,705
VIII-6 Net rental income or lossRelated to mission $17,410$17,410
VIII-7 Net gain or loss on sales of assetsExcluded from tax $488,713$488,713
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $9,614$9,614
VIII-12 Total revenueRelated to mission $12,240,926 · Unrelated business $0 · Excluded from tax $899,418$13,146,344
Part IX · Statement of functional expenses $13,927,059 across 19 lines filed
IX-7 Other salaries and wagesPrograms $4,363,405 · Management $792,456$5,155,861
IX-8 Pension plan contributionsPrograms $73,889 · Management $13,419$87,308
IX-9 Other employee benefitsPrograms $706,340 · Management $128,281$834,621
IX-10 Payroll taxesPrograms $353,865 · Management $64,267$418,132
IX-11a Management feesManagement $526,254$526,254
IX-11b Legal feesManagement $10,141$10,141
IX-11c Accounting feesManagement $49,662$49,662
IX-11f Investment management feesManagement $71,304$71,304
IX-11g Other fees for servicesPrograms $669,509 · Management $121,592$791,101
IX-12 Advertising and promotionPrograms $182,350 · Management $33,117$215,467
IX-13 Office expensesPrograms $1,490,115 · Management $270,626$1,760,741
IX-14 Information technologyPrograms $165,728 · Management $30,098$195,826
IX-16 OccupancyPrograms $1,089,753 · Management $197,914$1,287,667
IX-17 TravelPrograms $36,255 · Management $6,585$42,840
IX-19 Conferences, conventions and meetingsPrograms $5,911 · Management $1,073$6,984
IX-22 Depreciation, depletion and amortizationPrograms $1,500,962 · Management $272,595$1,773,557
IX-23 InsurancePrograms $327,882 · Management $59,548$387,430
IX-24 Other expenses (24a–d)Programs $207,557 · Management $37,695$245,252
IX-24e All other expensesPrograms $56,322 · Management $10,589$66,911
IX-25 Total functional expensesPrograms $11,229,843 · Management $2,697,216 · Fundraising $0$13,927,059
Part X · Balance sheet $39,518,993 assets, 17 lines filed
X-1 Cash, non-interest-bearingStart of year $11,898$979
X-2 Savings and temporary cash investmentsStart of year $299,631$398,963
X-4 Accounts receivableStart of year $417,708$838,694
X-8 Inventories for sale or useStart of year $33,744$36,759
X-9 Prepaid expenses and deferred chargesStart of year $476,023$551,363
X-10c Land, buildings and equipment, netStart of year $23,950,929$24,673,194
X-11 Publicly traded securitiesStart of year $14,361,775$12,427,792
X-15 Other assetsStart of year $216,496$591,249
X-16 Total assetsStart of year $39,768,204$39,518,993
X-17 Accounts payable and accrued expensesStart of year $1,182,643$699,316
X-19 Deferred revenueStart of year $22,075,565$23,211,869
X-20 Tax-exempt bond liabilitiesStart of year $4,784,309$4,524,821
X-25 Other liabilitiesStart of year $8,637,393$7,844,152
X-26 Total liabilitiesStart of year $36,679,910$36,280,158
X-27 Net assets without donor restrictionsStart of year $3,088,294$3,238,835
X-32 Total net assets or fund balancesStart of year $3,088,294$3,238,835
X-33 Total liabilities and net assetsStart of year $39,768,204$39,518,993
Part XI · Reconciliation of net assets $3,238,835 net assets at year end
XI-1 Total revenue$13,146,344
XI-2 Total expenses$13,927,059
XI-3 Revenue less expenses−$780,715
XI-4 Net assets at start of year$3,088,294
XI-5 Net unrealized gains (losses) on investments$556,502
XI-9 Other changes in net assets$374,754
XI-10 Net assets at end of year$3,238,835

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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