Southwest Florida Retirement Center in Venice, Florida (FL)

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Southwest Florida Retirement Center
Employer Identification Number (EIN)591931148
Name of OrganizationSouthwest Florida Retirement Center
Address920 Tamiami Trail South, Venice, FL 34285-3652
ActivitiesCare and housing for the aged (see also 382)
SubsectionCharitable Organization
Ruling Date03/1981
DeductibilityContributions are deductible
FoundationOrganization that normally receives no more than one third of its support from gross investment income and unrelated business income and at the same time more than one third of its support from contributions, fees, and gross receipts related to exempt purposes
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2014
Assets$10,000,000 to $49,999,999
Income$10,000,000 to $49,999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$44,148,941
Amount of Income$21,207,928
Form 990 Revenue Amount$20,995,424
National Taxonomy of Exempt Entities (NTEE)Human Services - Multipurpose and Other: Senior Continuing Care Communities


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Amount of income in 2014: $21,207,928 (it was $20,262,870 in 2013)
This organization: 

 $21,207,928
Other organizations performing similar types of work: 

 $15,223,418

Assets in 2014: $44,148,941 (it was $42,567,676 in 2013)
This organization: 

 $44,148,941
Other organizations performing similar types of work: 

 $27,089,417

Expenses in 2013: $17,240,798
Southwest Florida Retirement Center: 

 $17,240,798
Other organizations performing similar types of work: 

 $13,481,543

Income to expenses ratio in 2013: 1.2
This organization: 

 1.2
Other organizations performing similar types of work: 

 1.1

Number of employees in 2013: 362
This organization: 

 362
Other organizations performing similar types of work: 

 269

Employees paid over $100,000 in 2013: 3.0%
This organization: 

 3.0%
Other organizations performing similar types of work: 

 0.0%

Grants share in income in 2013: 1.4%
This organization: 

 1.4%
Other organizations performing similar types of work: 

 0.7%

Financial snapshot ($)

Revenue for 2013

Assets at the end of 2013

Functional expenses for 2013

Support schedule

Checklist
20122013
Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)?YesYes
Is the organization required to complete Schedule B, Schedule of Contributors?YesYes
Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office?NoNo
Did the organization engage in lobbying activities, or have a section 501(h) election in effect during the tax year?NoNo
Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or similar amounts as defined in Revenue Procedure 98-19?NoNo
Did the organization maintain any donor advised funds or any similar funds or accounts for which donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts?NoNo
Did the organization receive or hold a conservation easement, including easements to preserve open space, the environment, historic land areas, or historic structures?NoNo
Did the organization maintain collections of works of art, historical treasures, or other similar assets?NoNo
Did the organization report an amount for escrow or custodial account liability; serve as a custodian or provide credit counseling, debt management, credit repair, or debt negotiation services?NoNo
Did the organization, directly or through a related organization, hold assets in temporarily restricted endowments, permanent endowments, or quasi-endowments?YesYes
Did the organization report an amount for land, buildings, and equipment?YesYes
Did the organization report an amount for investments-other securities that is 5% or more of its total assets?NoNo
Did the organization report an amount for investments-program related that is 5% or more of its total assets?NoNo
Did the organization report an amount for other assets that is 5% or more of its total assets?NoNo
Did the organization report an amount for other liabilities?YesYes
Did the organization's separate or consolidated financial statements for the tax year include a footnote that addresses the organization's liability for uncertain tax positions under FIN 48 (ASC 740)?YesYes
Did the organization obtain separate, independent audited financial statements for the tax year?NoNo
Was the organization included in consolidated, independent audited financial statements for the tax year?YesYes
Is the organization a school described in section 170(b)(1)(A)(ii)?NoNo
Did the organization maintain an office, employees, or agents outside of the United States?NoNo
Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, business, investment, and program service activities outside the United States, or aggregate foreign investments valued at $100,000 or more?NoNo
Did the organization report more than $5,000 of grants or other assistance to or for any foreign organization?NoNo
Did the organization report more than $5,000 of aggregate grants or other assistance to or for foreign individuals?NoNo
Did the organization report a total of more than $15,000 of expenses for professional fundraising services?NoNo
Did the organization report more than $15,000 total of fundraising event gross income and contributions?NoNo
Did the organization report more than $15,000 of gross income from gaming activities?NoNo
Did the organization operate one or more hospital facilities?NoNo
Did the organization attach a copy of its audited financial statements?NoNo
Did the organization report more than $5,000 of grants or other assistance to any domestic organization or domestic government?NoNo
Did the organization report more than $5,000 of grants or other assistance to or for domestic individuals?YesYes
Did the organization answer 'Yes' about compensation of the organization's current and former officers, directors, trustees, key employees, and highest compensated employees?YesYes
Did the organization have a tax-exempt bond issue with an outstanding principal amount of more than $100,000 as of the last day of the year, that was issued after December 31, 2002?YesYes
Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception?NoNo
Did the organization maintain an escrow account other than a refunding escrow at any time during the year to defease any tax-exempt bonds?NoNo
Did the organization act as an 'on behalf of' issuer for bonds outstanding at any time during the year?NoNo
Did the organization engage in an excess benefit transaction with a disqualified person during the year?NoNo
Is the organization aware that it engaged in an excess benefit transaction with a disqualified person in a prior year, and that the transaction has not been reported on any of the organization's prior Forms 990 or 990-EZ?NoNo
Did the organization report any amount for receivables from or payables to any current or former officers, directors, trustees, key employees, highest compensated employees, or disqualified persons?NoNo
Did the organization provide a grant or other assistance to an officer, director, trustee, key employee, substantial contributor or employee thereof, a grant selection committee member, or to a 35% controlled entity or family member of any of these persons?NoNo
Was the organization a party to a business transaction with one of the following parties
A current or former officer, director, trustee, or key employee?NoNo
A family member of a current or former officer, director, trustee, or key employee?NoNo
An entity of which a current or former officer, director, trustee, or key employee (or a family member thereof) was an officer, director, trustee, or direct or indirect owner?NoYes
Did the organization receive more than $25,000 in non-cash contributions?NoNo
Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions?NoNo
Did the organization liquidate, terminate, or dissolve and cease operations?NoNo
Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets?NoNo
Did the organization own 100% of an entity disregarded as separate from the organization under Regulations sections 301.7701-2 and 301.7701-3?NoNo
Was the organization related to any tax-exempt or taxable entity?YesYes
Did the organization have a controlled entity within the meaning of section 512(b)(13)?YesYes
Did the organization make any transfers to an exempt non-charitable related organization?NoNo
Did the organization conduct more than 5% of its activities through an entity that is not a related organization and that is treated as a partnership for federal income tax purposes?NoNo
Statements Regarding Other IRS Filings and Tax Compliance
201120122013
The number reported in Box 3 of Form 10966057
The number of Forms W-2G00
Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners?NoNo
The number of employees reported on Form W-3, Transmittal of Wage and Tax Statements, filed for the calendar year ending with or within the year covered by this return361362
Did the organization file all required federal employment tax returns?YesYes
Did the organization have unrelated business gross income of $1,000 or more during the year?YesYesYes
Has it filed a Form 990-T for this year?YesYes
At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a financial account in a foreign country (such as a bank account, securities account, or other financial account)?NoNo
Was the organization a party to a prohibited tax shelter transaction at any time during the tax year?NoNo
Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction?NoNo
Did the organization file Form 8886-T?NoNo
Does the organization have annual gross receipts that are normally greater than $100,000, and did the organization solicit any contributions that were not tax deductible as charitable contributions?NoNo
Did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible?NoNo
Did the organization receive a payment in excess of $75 made partly as a contribution and partly for goods and services provided to the payor?NoNo
Did the organization notify the donor of the value of the goods or services provided?NoNo
Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282?NoNo
Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?NoNo
Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract?NoNo
If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required?NoNo
If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C?NoNo
Did a donor advised fund maintained by the sponsoring organization have excess business holdings at any time during the year?NoNo
Did the sponsoring organization make any taxable distributions under section 4966?NoNo
Did the sponsoring organization make a distribution to a donor, donor advisor, or related person?NoNo
Initiation fees and capital contributions$0$0$0
Gross receipts for public use of club facilities $0$0$0
Gross income from members or shareholders$0$0$0
Gross income from other sources$0$0$0
Is the organization filing Form 990 in lieu of Form 1041?NoNo
The amount of tax-exempt interest received or accrued during the year$0$0
Is the organization licensed to issue qualified health plans in more than one state?NoNo
The amount of reserves the organization is required to maintain by the states in which the organization is licensed to issue qualified health plans$0$0
The amount of reserves on hand$0$0
Did the organization receive any payments for indoor tanning services during the tax year?NoNo
Has it filed a Form 720 to report these payments?NoNo
Compensation of Officers, Directors, Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors
20122013
Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees
Total reportable compensation from the organization$1,002,612$614,818
Total reportable compensation from related organizations$0$0
Total estimated amount of other compensation from the organization and related organizations$10,419$76,426
Total number of individuals who received more than $100,000 of reportable compensation from the organization63
Total number of independent contractors who received more than $100,000 of compensation from the organization108
Statement of Revenue
201120122013
Total revenue$19,329,301$19,883,973$20,262,870
Contributions, Gifts, Grants and Other Similar Amounts$90,978$190,534$275,504
Program Service Revenue$18,584,243$18,947,860$19,254,392
623000$10,330,093$10,846,397
623000$5,861,486$5,954,628
623000$2,756,281$2,453,367
All other program service revenue$0$0
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$388,539$391,821$434,709
Income from investment of tax-exempt bond proceeds$0$0$0
Royalties$0$0$0
Net rental income$0$0$0
Net gain/loss from sales of assets other than inventory$65,872$6,715$25,680
Gross amount from sales of assets other than inventory (Securities / Other)$35,000 / $39,453$0 / $6,715$0 / $25,680
Less: cost or other basis and sales expenses (Securities / Other)$0 / $8,581$0 / $0$0 / $0
Gain or (loss) (Securities / Other)$35,000 / $30,872$0 / $6,715$0 / $25,680
Net income/loss from fundraising events$0$0$0
Net income/loss from gaming activities$0$0$0
Net income/loss from sales of inventory$-34,267$-33,698$-30,532
Gross sales of inventory, less returns and allowances$148,708$155,428$171,999
Less: cost of goods sold$182,975$189,126$202,531
Miscellaneous Revenue$233,936$380,741$303,117
623000$380,741$303,117
All other revenue$0$0
Statement of Functional Expenses
201120122013
Total functional expenses$16,664,414$16,909,516$17,240,798
Grants and other assistance to domestic organizations and domestic governments$0$0
Grants and other assistance to domestic individuals$108,543$98,357
Grants and other assistance to foreign organizations, foreign governments, and foreign individuals$0$0
Benefits paid to or for members$0$0
Compensation of current officers, directors, trustees, and key employees$497,607$0$691,243
Compensation not included above, to disqualified persons$0$0
Other salaries and wages$7,345,454$8,135,041$7,592,659
Pension plan accruals and contributions$16,871$17,213
Other employee benefits$761,766$711,257
Payroll taxes$598,163$619,894$633,386
Fees for services (non-employees)
Management$0$0
Legal$8,140$38,886
Accounting$0$67,283
Lobbying$0$0
Professional fundraising services$0$0$0
Investment management fees$0$0
Other$226,879$202,877
Advertising and promotion$135,922$145,798
Office expenses$108,642$110,135
Information technology$186,930$198,830
Royalties$0$0
Occupancy$1,352,040$1,477,609
Travel$16,677$18,955
Payments of travel or entertainment expenses for any federal, state, or local public officials$0$0
Conferences, conventions, and meetings$0$0
Interest$1,498,597$1,537,258
Payments to affiliates$0$0
Depreciation, depletion, and amortization$1,572,692$1,624,161
Insurance$693,765$601,839
Other expenses$750,948$758,054
Other expenses$253,713$265,520
Other expenses$186,293$183,597
Other expenses$131,039$102,080
Other expenses$145,124$163,801
Balance Sheet
201120122013
Total assets$36,024,238$38,258,648$42,567,676
Cash - non-interest-bearing$5,751,198$8,188,222
Savings and temporary cash investments$14,367,407$14,055,163
Pledges and grants receivable, net$0$0
Accounts receivable, net$511,174$1,144,254
Loans and other receivables from current and former officers, directors, trustees, key employees, and highest compensated employees$0$0
Loans and other receivables from other disqualified persons, persons described in section 4958(c)(3)(B), and contributing employers and sponsoring organizations of section 501(c)(9) voluntary employees' beneficiary organizations$0$0
Notes and loans receivable, net$0$0
Inventories for sale or use$163,246$164,466
Prepaid expenses and deferred charges$307,622$343,845
Land, buildings, and equipment: cost or other basis$13,207,820$15,177,842
Investments - publicly traded securities$3,255,505$2,867,022
Investments - other securities$0$0
Investments - program-related$0$0
Intangible assets$0$0
Other assets$694,676$626,862
Total liabilities$46,877,706$46,315,176$47,722,625
Accounts payable and accrued expenses$1,683,561$1,992,643
Grants payable$0$0
Deferred revenue$15,568,415$17,857,318
Tax-exempt bond liabilities$29,344,100$28,477,472$27,566,565
Escrow or custodial account liability$0$0
Loans and other payables to current and former officers, directors, trustees, key employees, highest compensated employees, and disqualified persons$0$0
Secured mortgages and notes payable to unrelated third parties$0$0$0
Unsecured notes and loans payable to unrelated third parties$0$0$0
Other liabilities (including federal income tax, payables to related third parties, and other liabilities)$585,728$306,099
Total net assets or fund balances$-10,853,468$-8,056,528$-5,154,949
Unrestricted net assets$-8,519,564$-5,640,589
Temporarily restricted net assets$339,655$362,259
Permanently restricted net assets$123,381$123,381
Capital stock or trust principal, or current funds$0$0
Paid-in or capital surplus, or land, building, or equipment fund$0$0
Retained earnings, endowment, accumulated income, or other funds$0$0$0
Reason for Public Charity Status (for 2013)
The organization is not a private foundation because it is:An organization that normally receives: (1) more than 33 1/3 % of its support from contributions, membership fees, and gross receipts from activities related to its exempt functions - subject to certain exceptions, and (2) no more than 33 1/3 % of its support from gross investment income and unrelated business taxable income (less section 511 tax) from businesses acquired by the organization after June 30, 1975
Number of organizations supported0
Sum of amounts of support$0
Support Schedule for Organizations Described in Section 509(a)(2) (for 2009 - 2013)
2009 - 2013 Total
Public support$93,033,215
Subtotal$93,033,215
Gifts, grants, contributions, and membership fees received$827,794
Gross receipts from admissions, merchandise sold or services performed, or facilities furnished in any activity that is related to the organization's tax-exempt purpose$92,205,421
Gross receipts from activities that are not an unrelated trade or business under section 513$0
Tax revenues levied for the organization's benefit and either paid to or expended on its behalf$0
The value of services or facilities furnished by a governmental unit to the organization without charge$0
Less$0
Amounts received from disqualified persons$0
Amounts received from other than disqualified persons that exceed the greater of $5,000 or 1% of the total support$0
Total support$96,508,592
Public support$93,033,215
Subtotal$1,945,043
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources$1,945,043
Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975$0
Net income from unrelated business activities, whether or not the business is regularly carried on$-135,091
Other income$1,665,425
Unrelated Trade or Business Income (for 2008)
IncomeExpensesNet
Total$17,921$0$17,921
Gross receipts or sales less returns and allowances$122,737$0$0
Cost of goods sold$140,658$0$0
Gross profit$17,921$0$17,921
Capital gain net income$0$0$0
Net gain$0$0$0
Capital loss deduction for trusts$0$0$0
Income (loss) from partnerships and S corporations$0$0$0
Rent income$0$0$0
Unrelated debt-financed income$0$0$0
Interest, annuities, royalties, and rents from controlled organizations$0$0$0
Investment income of a section 501(c)(7), (9), or (17) organization$0$0$0
Exploited exempt activity income$0$0$0
Advertising income$0$0$0
Other income$0$0$0
Deductions Not Taken Elsewhere (for 2008)
Total deductions$11,047
Compensation of officers, directors, and trustees$0
Salaries and wages$0
Repairs and maintenance$0
Bad debts$0
Interest$0
Taxes and licenses$0
Charitable contributions$0
Depreciation$0
Depletion$0
Contributions to deferred compensation plans$0
Employee benefit programs$0
Excess exempt expenses$0
Excess readership costs$0
Other deductions$11,047
Unrelated business taxable income$28,968
Unrelated business taxable income before net operating loss deduction$28,968
Net operating loss deduction$0
Unrelated business taxable income before specific deduction$28,968
Specific deduction$1,000
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IdNameAddressStateEstablishedTotal Income
1Moorings Incorporated134 Moorings Park Dr, Naples, FL 34105-2122FL1978-10$349,866,145
2Senior Care Group Inc1240 Marbella Plaza Dr, Tampa, FL 33619-7906FL1985-10$120,332,875
3Presbyterian Retirement Communities Inc80 W Lucerne Cir, Orlando, FL 32801-3779FL1963-07$119,657,380
4Christian & Missionary Alliance Foundation Inc, Shell Point Village15000 Shell Point Blvd, Fort Myers, FL 33908-1657FL1967-11$102,216,101
5Miami Jewish Health Systems Inc5200 Ne 2nd Ave, Miami, FL 33137-2706FL1946-12$84,356,351
6John Knox Village Of Florida Inc651 Sw 6th St, Pompano Beach, FL 33060-3700FL1981-03$52,071,063
7John Knox Village Of Central Florida Inc101 Northlake Dr, Orange City, FL 32763-6167FL1979-08$35,916,714
8East Ridge Retirement Village Inc19301 Sw 87th Ave, Cutler Bay, FL 33157-8904FL1964-05$35,583,129
9Naval Continuing Care Retirement Foundation Inc, Dba Fleet Landing1 Fleet Landing Blvd, Atlantic Bch, FL 32233-4599FL1987-01$32,773,864
10Glenridge On Palmer Ranch Inc7333 Scotland Way, Sarasota, FL 34238-8530FL1998-12$31,351,879
11Volunteers Of America Inc, Volunteers Of America National Serv7530 Market Place Dr, Eden Prairie, MN 55344-3636MN1963-05$20,753,966
12Village At Marymount5200 Marymount Village Dr, Garfield Hts, OH 44125-2973OH1946-03$18,251,592
13Walker Methodist Health Center Inc3737 Bryant Ave S, Minneapolis, MN 55409-1019MN1953-09$30,879,736
14Wesley Glen Inc5155 N High St, Columbus, OH 43214-1525OH1970-06$22,365,309
15Sarah A Reed Retirement Center227 W 22nd St, Erie, PA 16502-2689PA1988-07$19,597,849
16St Camillus Health Center Inc10101 W Wisconsin Avenue, Wauwatosa, WI 53226-4861WI1946-03$16,103,660
17Yellowwood Acres Inc, Westminster Village Kentuckiana2200 Greentree North, Clarksville, IN 47129-8965IN1984-03$14,507,229
18Shalom Park14800 E Belleview Dr, Aurora, CO 80015-2258CO1986-01$14,093,962
19Westminster Village Inc2025 E Lincoln St, Bloomington, IL 61701-5995IL1984-03$12,444,371
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Number of organizations performing similar types of work
Alaska2
Alabama3
Arkansas5
Arizona12
California48
Colorado13
Connecticut21
District of Columbia6
Delaware3
Florida45
Georgia13
Hawaii2
Iowa22
Illinois54
Indiana25
Kansas14
Kentucky10
Louisiana8
Massachusetts16
Maryland26
Maine4
Michigan20
Minnesota41
Missouri22
Montana2
North Carolina23
North Dakota2
Nebraska4
New Hampshire5
New Jersey24
New Mexico1
New York45
Ohio45
Oklahoma4
Oregon12
Pennsylvania93
Rhode Island5
South Carolina8
South Dakota8
Tennessee14
Texas21
Utah2
Virginia23
Vermont1
Washington19
Wisconsin26
West Virginia4
Wyoming1
International2
Total829

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