Springpoint Senior Living Inc, Group Return in Wall Township, New Jersey (NJ)

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Springpoint Senior Living Inc, Group Return
Employer Identification Number (EIN)223498690
Name of OrganizationSpringpoint Senior Living Inc
Secondary NameGroup Return
In Care of NameGarrett T Midgett Iii
Address4814 Outlook Dr Ste 201, Wall Township, NJ 07753-6812
ActivitiesNursing or convalescent home, Care and housing for the aged (see also 382), Housing for the aged (see also 153)
SubsectionCharitable Organization
Ruling Date01/1997
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 Period12/2013
Assets$50,000,000 to greater
Income$50,000,000 to greater
Filing Requirement990 - Group return
Asset Amount$593,444,778
Amount of Income$165,461,422
Form 990 Revenue Amount$135,159,730
National Taxonomy of Exempt Entities (NTEE)Human Services - Multipurpose and Other: Senior Continuing Care Communities


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Amount of income in 2013: $165,461,422
This organization: 

 $165,461,422
Other organizations performing similar types of work: 

 $15,223,418

Assets in 2013: $593,444,778
This organization: 

 $593,444,778
Other organizations performing similar types of work: 

 $27,089,417

Expenses in 2013: $143,428,343
This organization: 

 $143,428,343
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

Expenses allocated to program services in 2007: 79.5%
This organization: 

 79.5%
Other organizations performing similar types of work: 

 86.2%

Number of employees in 2013: 1,950
This organization: 

 1,950
Other organizations performing similar types of work: 

 269

Employees paid over $100,000 in 2013: 2.4%
This organization: 

 2.4%
Other organizations performing similar types of work: 

 0.0%

Grants share in income in 2013: 4.5%
Springpoint Senior Living Inc, Group Return: 

 4.5%
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?YesYes
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?YesYes
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?YesYes
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?YesYes
Did the organization report more than $15,000 total of fundraising event gross income and contributions?YesYes
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?YesNo
Did the organization report more than $5,000 of grants or other assistance to or for domestic individuals?NoYes
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?NoNo
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)?NoNo
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 1096478426506
The number of Forms W-2G000
Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners?YesYesYes
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 return2,0641,6681,950
Did the organization file all required federal employment tax returns?YesYesYes
Did the organization have unrelated business gross income of $1,000 or more during the year?NoNoNo
Has it filed a Form 990-T for this year?NoNoNo
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)?YesNoNo
Was the organization a party to a prohibited tax shelter transaction at any time during the tax year?NoNoNo
Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction?NoNoNo
Did the organization file Form 8886-T?NoNoNo
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?NoNoNo
Did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible?NoNoNo
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?YesYesYes
Did the organization notify the donor of the value of the goods or services provided?YesYesYes
Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282?NoNoNo
Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?NoNoNo
Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract?YesYesYes
If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required?NoNoNo
If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C?NoNoNo
Did a donor advised fund maintained by the sponsoring organization have excess business holdings at any time during the year?NoNoNo
Did the sponsoring organization make any taxable distributions under section 4966?NoNoNo
Did the sponsoring organization make a distribution to a donor, donor advisor, or related person?NoNoNo
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?NoNoNo
The amount of tax-exempt interest received or accrued during the year$0$0$0
Is the organization licensed to issue qualified health plans in more than one state?NoNoNo
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$0
The amount of reserves on hand$0$0$0
Did the organization receive any payments for indoor tanning services during the tax year?NoNoNo
Has it filed a Form 720 to report these payments?NoNoNo
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$213,467$3,224,191
Total reportable compensation from related organizations$9,517,124$4,823,843
Total estimated amount of other compensation from the organization and related organizations$683,287$821,249
Total number of individuals who received more than $100,000 of reportable compensation from the organization28
Total number of independent contractors who received more than $100,000 of compensation from the organization3938
Statement of Revenue
201120122013
Total revenue$173,132,045$108,366,516$135,159,730
Contributions, Gifts, Grants and Other Similar Amounts$7,073,492$5,505,867$6,083,014
Program Service Revenue$117,456,454$100,141,177$123,186,610
541900$107,254,373$99,554,137$120,665,382
541900$10,202,081$587,040$2,521,228
All other program service revenue$0$0$0
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$2,090,781$1,952,303$2,504,044
Income from investment of tax-exempt bond proceeds$0$0$0
Royalties$0$0$0
Net rental income$41,460$0$0
Net gain/loss from sales of assets other than inventory$46,050,335$284,167$2,889,460
Gross amount from sales of assets other than inventory (Securities / Other)$9,277,009 / $85,000,000$7,328,362 / $6,737$33,037,300 / $55,487
Less: cost or other basis and sales expenses (Securities / Other)$9,004,942 / $39,221,732$7,045,979 / $4,953$30,175,067 / $28,260
Gain or (loss) (Securities / Other)$272,067 / $45,778,268$282,383 / $1,784$2,862,233 / $27,227
Net income/loss from fundraising events$-89,864$-35,526$-27,415
Gross income from fundraising events$81,581$59,235$70,950
Less: direct expenses$171,445$94,761$98,365
Net income/loss from gaming activities$0$0$0
Net income/loss from sales of inventory$0$0$0
Miscellaneous Revenue$509,387$518,528$524,017
561000$509,387$518,528$524,017
All other revenue$0$0$0
Statement of Functional Expenses
201120122013
Total functional expenses$140,232,828$117,904,844$143,428,343
Grants and other assistance to domestic organizations and domestic governments$599,190$569,469$0
Grants and other assistance to domestic individuals$0$0$598,462
Grants and other assistance to foreign organizations, foreign governments, and foreign individuals$0$0$0
Benefits paid to or for members$0$0$0
Compensation of current officers, directors, trustees, and key employees$235,885$257,802$3,377,963
Compensation not included above, to disqualified persons$0$0$0
Other salaries and wages$41,830,152$35,226,734$39,749,546
Pension plan accruals and contributions$1,520,509$1,238,231$1,336,925
Other employee benefits$9,034,379$7,839,719$9,986,936
Payroll taxes$3,839,110$3,267,949$3,970,041
Fees for services (non-employees)
Management$0$0$228,082
Legal$598,153$439,512$667,818
Accounting$231,558$407,218$426,479
Lobbying$0$104,716$119,889
Professional fundraising services$60,000$64,500$66,000
Investment management fees$0$0$0
Other$0$6,557,727$11,891,779
Advertising and promotion$1,633,086$1,085,528$1,063,500
Office expenses$4,879,226$2,587,376$3,129,538
Information technology$0$0$1,367
Royalties$0$0$0
Occupancy$17,300,422$9,702,908$13,513,401
Travel$57,468$150,043$169,890
Payments of travel or entertainment expenses for any federal, state, or local public officials$0$0$0
Conferences, conventions, and meetings$131,020$88,494$138,416
Interest$9,144,788$6,905,340$6,818,274
Payments to affiliates$0$0$0
Depreciation, depletion, and amortization$20,139,326$19,976,461$23,504,957
Insurance$0$1,092,062$1,711,205
Other expenses$10,053,519$6,567,938$7,087,176
Other expenses$6,406,427$4,210,686$5,176,531
Other expenses$5,037,696$1,754,902$2,189,386
Other expenses$4,903,537$968,347$1,432,890
Other expenses$2,597,377$6,841,182$5,071,892
Balance Sheet
201120122013
Total assets$493,021,757$489,437,209$593,444,778
Cash - non-interest-bearing$9,950$9,550$11,800
Savings and temporary cash investments$43,236,131$46,272,098$43,190,846
Pledges and grants receivable, net$0$0$0
Accounts receivable, net$8,233,103$9,701,026$7,065,868
Loans and other receivables from current and former officers, directors, trustees, key employees, and highest compensated employees$0$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$0
Notes and loans receivable, net$21,305,873$10,796,435$8,077,821
Inventories for sale or use$0$0$0
Prepaid expenses and deferred charges$4,445,103$4,249,585$3,053,425
Land, buildings, and equipment: cost or other basis$308,902,555$324,583,297$362,009,220
Investments - publicly traded securities$0$0$0
Investments - other securities$0$0$933,575
Investments - program-related$101,006,932$87,939,662$114,738,445
Intangible assets$5,882,110$5,196,976$44,291,372
Other assets$0$688,580$10,072,406
Total liabilities$437,818,659$440,970,591$603,309,893
Accounts payable and accrued expenses$13,279,882$13,903,041$13,051,461
Grants payable$0$0$0
Deferred revenue$151,044,671$140,950,761$56,703,814
Tax-exempt bond liabilities$101,929,396$105,389,366$137,614,071
Escrow or custodial account liability$0$0$37,903
Loans and other payables to current and former officers, directors, trustees, key employees, highest compensated employees, and disqualified persons$0$0$0
Secured mortgages and notes payable to unrelated third parties$51,043,488$59,989,195$54,493,256
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)$120,521,222$120,738,228$341,409,388
Total net assets or fund balances$55,203,098$48,466,618$-9,865,115
Unrestricted net assets$46,693,147$40,412,993$-21,112,026
Temporarily restricted net assets$5,173,377$5,094,892$7,321,338
Permanently restricted net assets$3,336,574$2,958,733$3,925,573
Capital stock or trust principal, or current funds$0$0$0
Paid-in or capital surplus, or land, building, or equipment fund$0$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$585,365,749
Subtotal$585,365,749
Gifts, grants, contributions, and membership fees received$31,361,912
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$554,003,837
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$601,078,807
Public support$585,365,749
Subtotal$13,228,965
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources$13,228,965
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$0
Other income$2,484,093
Revenue, Expenses, and Changes in Net Assets or Fund Balances
20002001200220032004200520062007
Total revenue$76,479,960$69,436,054$72,168,010$79,474,936$96,985,420$128,641,936$121,666,745$130,912,305
Contributions, gifts, grants, and similar amounts received$14,573,418$12,292,351$10,573,727$10,151,127$10,774,986$9,024,770$6,782,850$8,290,957
Contributions to donor advised funds$0$0
Direct public support$9,160,512$6,534,766$3,213,464$3,003,473$2,911,588$2,674,613$1,968,387$3,516,276
Indirect public support$0$0$0$0$0$0$0$0
Government contributions (grants)$5,412,906$5,757,585$7,360,263$7,147,654$7,863,398$6,350,157$4,814,463$4,774,681
Program service revenue including government fees and contracts$46,427,827$46,967,242$50,716,317$57,800,619$71,888,870$82,593,547$91,585,123$112,818,146
Membership dues and assessments$0$0$0$0$0$0$0$0
Interest on savings and temporary cash investments$3,307,738$2,559,842$1,089,624$1,161,943$1,980,733$3,196,331$5,076,184$4,751,013
Dividends and interest from securities$49,350$0$600,756$442,999$0$0$0$0
Net rental income or (loss)$0$0$0$0$0$0$0$0
Gross rents$0$0$0$0$0$0$0$0
Less: rental expenses$0$0$0$0$0$0$0$0
Other investment income$0$0$0$0$0$0$0$1,795,804
Gain or (loss) from sales of assets other than inventory$4,461,208$-932,861$-58,921$783,295$0$19,980,556$4,222,355$3,045,111
Gross amount from sales of assets other than inventory$23,481,542$0$0$783,295$0$39,700,000$19,866,766$8,000,000
Less: cost or other basis and sales expenses$19,020,334$932,861$58,921$0$0$19,719,444$15,644,411$4,954,889
Net income or (loss) from special events and activities$-8,921$207$-8,925$-9,043$4,681$72,591$89,340$0
Gross revenue$19,980$32,725$31,822$79,703$41,860$117,048$129,041$44,647
Less: direct expenses other than fundraising expenses$28,901$32,518$40,747$88,746$37,179$44,457$39,701$44,647
Gross profit or (loss) from sales of inventory$0$0$0$0$0$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0$0$0$0$0$0
Less: cost of goods sold$0$0$0$0$0$0$0$0
Other revenue$7,669,340$8,549,273$9,255,432$9,143,996$12,336,150$13,774,141$13,910,893$211,274
Total expenses$62,578,366$63,668,689$71,874,189$82,178,975$105,003,406$114,950,325$121,972,183$128,697,984
Program services$34,972,433$34,948,391$60,407,363$66,713,387$85,097,310$94,370,827$91,988,912$102,325,200
Management and general$26,694,020$27,389,291$9,774,459$14,503,826$18,851,285$19,642,835$28,818,987$25,468,158
Fundraising$911,913$1,331,007$1,692,367$961,762$1,054,811$936,663$1,164,284$904,626
Payments to affiliates$0$0$0$0$0$0$0$0
Net assets or fund balances at end of year$37,673,117$41,133,896$39,953,197$40,355,455$28,144,095$44,041,322$51,171,822$40,564,680
Excess or (deficit) for the year$13,901,594$5,767,365$293,821$-2,704,039$-8,017,986$13,691,611$-305,438$2,214,321
Net assets or fund balances at beginning of year$27,074,724$37,673,117$41,133,896$39,953,197$40,355,455$28,144,095$44,041,322$51,185,305
Other changes in net assets or fund balances$-3,303,201$-2,306,586$-1,474,520$3,106,297$-4,193,374$2,205,616$7,435,938$-12,834,946
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$128,697,984$102,325,200$25,468,158$904,626
Grants paid from donor advised funds$0
Other grants and allocations$3,313,335
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$0$0$0$0
Compensation of former officers, directors, key employees, etc.$149,523$149,523$0$0
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0$0$0
Salaries and wages of employees not included above$40,132,757$33,892,851$5,934,426$305,480
Pension plan contributions not included above$1,453,229$1,201,050$231,899$20,280
Employee benefits not included above$8,126,297$6,890,231$1,053,759$182,307
Payroll taxes$3,201,187$2,770,410$411,011$19,766
Professional fundraising fees$0$0$0$0
Accounting fees$255,458$0$255,458$0
Legal fees$399,070$0$394,441$4,629
Supplies$6,641,882$6,351,897$280,824$9,161
Telephone$893,167$769,616$123,551$0
Postage and shipping$93,217$11,465$68,213$13,539
Occupancy$20,070,579$18,432,993$1,637,586$0
Equipment rental and maintenance$1,067,896$1,006,656$45,256$15,984
Printing and publications$1,354,600$45,175$1,259,050$50,375
Travel$59,135$13,586$34,945$10,604
Conferences, conventions, and meetings$126,699$74,922$50,912$865
Interest$8,870,995$4,943,617$3,927,378$0
Depreciation, depletion, etc.$16,671,958$15,782,136$889,822$0
Other expenses not covered above$15,817,000$6,675,737$8,869,627$271,636
Balance Sheets
20002001200220032004200520062007
Total assets$248,811,706$392,977,086$432,900,540$462,857,428$451,003,902$451,467,157$493,172,905$478,654,344
Cash - non-interest-bearing$19,930$24,207$25,764$29,933$24,542$25,805$11,246$11,700
Savings and temporary cash investments$7,686,359$11,523,393$119,461,428$96,954,081$73,518,402$78,155,333$24,787,029$7,105,958
Accounts receivable less allowance for doubtful accounts$3,494,338$3,848,760$4,044,941$6,358,915$6,449,743$7,767,527$8,223,424$11,296,722
Pledges receivable less allowance for doubtful accounts$0$0$0$0$0$0$0$0
Grants receivable$0$0$0$0$0$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$360,000$360,000$360,000$360,000$0$0$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0
Other notes and loans receivable less allowance for doubtful accounts$750,000$1,309,867$5,131,690$5,194,108$7,958,113$18,944,661$50,313,204$45,949,777
Inventories for sale or use$0$0$0$0$0$0$0$0
Prepaid expenses and deferred charges$1,977,008$3,817,485$9,312,532$10,677,045$8,668,949$6,945,936$3,876,339$3,798,991
Investments - publicly-traded securities$42,189,159$28,359,025
Investments - other securities$62,133,351$148,804,640$19,621,514$22,451,440$24,313,276$26,669,825$140,569$0
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0$0$0$0$0$0
Investments - other$0$0$0$0$1,310,941$1,807,103$42,618,417$60,242,283
Land, buildings, and equipment less accumulated depreciation$164,974,326$214,347,018$270,413,195$317,071,062$322,845,926$304,756,472$314,343,405$315,625,561
Other assets, including program-related investments$7,416,394$8,941,716$4,529,476$3,760,844$5,914,010$6,394,495$6,670,113$6,264,327
Total liabilities$211,138,589$351,843,190$392,947,343$422,501,973$422,859,807$407,425,835$442,001,083$438,089,664
Accounts payable and accrued expenses$6,404,792$9,816,176$18,228,945$17,443,616$11,843,187$11,080,972$12,934,278$74,705,395
Grants payable$0$0$0$0$0$0$0$0
Deferred revenue$62,222,574$70,079,128$67,631,789$81,352,756$131,594,904$139,378,425$174,498,948$174,868,434
Loans from officers, directors, trustees, and key employees$0$0$0$0$0$0$0$0
Tax-exempt bond liabilities$0$0$0$40,357,036$0$0$116,949,456$157,830,530
Mortgages and other notes payable$130,200,625$257,007,354$288,409,300$256,613,372$266,866,113$246,798,745$67,890,581$19,818,303
Other liabilities$12,310,598$14,940,532$18,677,309$26,735,193$12,555,603$10,167,693$69,727,820$10,867,002
Total liabilities and net assets/fund balances$248,811,706$392,977,086$432,900,540$462,857,428$451,003,902$451,467,157$493,172,905$478,654,344
Total net assets or fund balances$37,673,117$41,133,896$39,953,197$40,355,455$28,144,095$44,041,322$51,171,822$40,564,680
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
20002001200220032004200520062007
Total revenue$0$0$0$0$96,985,420$128,641,936$121,666,745$130,912,305
Total revenue, gains, and other support per audited financial statements$0$0$0$0$96,985,420$128,641,936$121,666,745$132,003,514
Other expenses$0$0$0$0$0$0$0$1,091,209
Net unrealized gains on investments$0$0$0$0$0$0$0$1,046,562
Donated services and use of facilities$0$0$0$0$0$0$0$0
Recoveries of prior year grants$0$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0$44,647
Other revenue$0$0$0$0$0$0$0$0
Investment expenses$0$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
20002001200220032004200520062007
Total expenses$0$0$0$0$105,003,406$114,950,325$121,972,183$128,697,984
Total expenses and losses per audited financial statements$0$0$0$0$105,003,406$114,950,325$121,972,183$128,742,631
Other revenue$0$0$0$0$0$0$0$44,647
Donated services and use of facilities$0$0$0$0$0$0$0$0
Prior year adjustments$0$0$0$0$0$0$0$0
Losses$0$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0$44,647
Other expenses$0$0$0$0$0$0$0$0
Investment expenses$0$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0$0
Current Officers, Directors, Trustees, and Key Employees
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings15
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?No
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?Yes
Does the organization have a written conflict of interest policy?Yes
Former Officers, Directors, Trustees, and Key Employees That Received Compensation or Other Benefits
Loans and AdvancesCompensationContributions to employee benefit plans & deferred compensation plansExpense account and other allowances
$0$0$149,523$0
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?No
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?Yes
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?Yes
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?No
Number of employees employed in the pay period that includes March 12, 20061,551
Analysis of Income-Producing Activities (for 2007)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$9,803,202$112,818,146
Program service revenue
Program service revenue 1000000$000$0$98,818,573
Program service revenue 2000000$000$0$13,999,573
Program service revenue 3000000$000$0$0
Program service revenue 4000000$000$0$0
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investments000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$4,751,013$0
Dividends and interest from securities000000$000$0$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$000$0$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$0Gain (or loss, to the extent allowed) from the sale of investments and other non-inventory property and from certain property acquired from financial institutions that are in conservatorship or receivership (sections 512(b)(5) and 512(b)(16)(A))$1,795,804$0
Gain or (loss) from sales of assets other than inventory000000$0Gain (or loss, to the extent allowed) from the sale of investments and other non-inventory property and from certain property acquired from financial institutions that are in conservatorship or receivership (sections 512(b)(5) and 512(b)(16)(A))$3,045,111$0
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$0Section 501(c)(3) organization - Income from an activity carried on primarily for the convenience of the organization's members, students, patients, visitors, officers, or employees (hospital parking lot or museum cafeteria, for example) (section 513(a)(2))$211,274$0
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2007)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
202018876100%$0$0
0000000000%$0$0
0000000000%$0$0
0000000000%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2007)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$173,421$27,702$0
$92,056$21,599$0
$86,896$11,810$0
$83,116$15,139$0
$88,807$5,816$0
Total number of other employees paid over $50,000150
Statements About Activities (for 2007)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?No
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?No
Did the organization maintain any donor advised funds?No
Did the organization make any taxable distributions under section 4966?No
Did the organization make a distribution to a donor, donor advisor, or related person?No
The total number of donor advised funds owned at the end of the tax year$0
The aggregate value of assets held in all donor advised funds owned at the end of the tax year$0
The total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts$0
The aggregate value of assets held in all funds or accounts included above at the end of the tax year$0
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isOrganization that normally receives: less than 1/3 of its support from gross investment income and unrelated taxable business income and more than 1/3 of its support from contribution, membership fees
Support Schedule
19992000200120022003200420052006
Total$70,110,382$72,047,653$69,435,847$72,267,678$69,556,688$84,644,589$0$103,573,198
Gifts, grants, and contributions received$7,218,062$14,573,418$12,292,351$10,573,727$10,151,127$10,774,986$0$6,782,850
Membership fees received$0$0$0$0$0$0$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$53,589,473$46,447,807$54,583,654$60,003,571$57,800,619$71,888,870$0$91,714,164
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$2,442,955$3,357,088$2,559,842$1,690,380$1,604,942$1,980,733$0$5,076,184
Net income from unrelated business activities not included above$0$0$0$0$0$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0$0$0$0$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0$0$0$0$0$0$0
Other income$6,859,892$7,669,340$0$0$0$0$0$0
Lobbying Expenditures by Electing Public Charities (for 2007)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Springpoint Senior Living Inc, Group Return4814 Outlook Dr Ste 201, Wall Township, NJ 07753-6812NJ1997-01$165,461,422
2Fellowship Senior Living Inc8000 Fellowship Road, Basking Ridge, NJ 07920-3915NJ1992-05$83,833,857
3The EstaughOne Medford Leas Way, Medford, NJ 08055-2254NJ1994-04$80,920,643
4The Evergreens309 Bridgeboro Rd, Moorestown, NJ 08057-1419NJ1935-07$48,879,678
5Bristol Glen Inc3311 State Route 33, Neptune, NJ 07753-3440NJ1998-11$39,693,900
6Phs Senior Living Inc, Marcus L Ward Home Inc333 Elmwood Ave, Maplewood, NJ 07040-2491NJ1997-01$36,416,071
7United Methodist Homes Of New Jersey3311 Hwy 33, Neptune, NJ 07753-3440NJ1986-01$34,006,042
8The Pines At Whiting509 Rt 530, Whiting, NJ 08759-3145NJ1992-03$33,804,852
9Lutheran Social Ministries At Cranes Mill Inc, Cranes Mill3 Manhattan Dr, Burlington, NJ 08016-4119NJ1996-02$30,574,290
10St Francis Life Care Corporation19 Pocono Road, Denville, NJ 07834-2996NJ1946-03$26,112,024
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
19The Jewish Home Family Inc10 Link Dr, Rockleigh, NJ 07647-2504NJ2007-12$1,415,158
20Logan Square East602 Dutch Neck Rd, East Windsor, NJ 08520-1104NJ1982-01$0
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
20 biggest affiliated organizations
AffiliationNameAddressStateEstablishedTotal Income
SubordinateSpringpoint Senior Living Inc, Group Return4814 Outlook Dr Ste 201, Wall Township, NJ 07753-6812NJ1997-01$165,461,422
SubordinatePhs Senior Living Inc, Marcus L Ward Home Inc333 Elmwood Ave, Maplewood, NJ 07040-2491NJ1997-01$36,416,071
CentralSpringpoint Senior Living Inc4814 Outlook Dr Ste 201, Wall Township, NJ 07753-6812NJ1997-01$12,753,817
SubordinatePresbyterian Homes And Services Inc, Presbyterian Home At Atlantic Highl202 First Ave, Atlantic Highlan, NJ 07716-2035NJ1997-01$0
SubordinatePresbyterian Homes And Services Inc, Presbyterian Home At Dover Inc923 Oak Ave, Toms River, NJ 08753-3596NJ1997-01$0
SubordinatePresbyterian Homes And Services Inc, Presbyterian Home At East Windsor20 Lanning Blvd, East Windsor, NJ 08520-1911NJ1997-01$0
SubordinatePresbyterian Homes And Services Inc, Presbyterian Home At Franklin Inc1 Bob Franks Way, Somerset, NJ 08873-1375NJ1997-01$0
SubordinatePresbyterian Homes And Services Inc, Presbyterian Home At Galloway205 West Buchanan Ave, Egg Harbor, NJ 08215-3846NJ1997-01$0
SubordinatePresbyterian Homes And Services Inc, Presbyterian Home At Howell720 Route 9 South, Freehold, NJ 07728-9161NJ1997-01$0
SubordinatePresbyterian Homes And Services Inc, Presbyterian Home At Manchester Inc3204 Hilltop Road, Whiting, NJ 08759-1378NJ1997-01$0
SubordinatePresbyterian Homes And Services Inc, Presbyterian Home At Stafford Inc312 East Bay Avenue, Manahawkin, NJ 08050-3348NJ1997-01$0
SubordinatePresbyterian Homes And Services Inc, Presbyterian Home At Wall2011 New Bedford Rd, Wall, NJ 07719-3659NJ1997-01$0
SubordinatePresbyterian Homes And Services Inc, Presbyterian Home At West Windsor996 Alexander Road, Princeton Juncti, NJ 08550-1014NJ1997-01$0
SubordinatePresbyterian Homes And Services Inc, Presbyterian Home Of Asbury Park1701 Ocean Ave, Asbury Park, NJ 07712-5646NJ1997-01$0
SubordinatePresbyterian Homes And Services Inc, Presbyterian Home Of Plainfield601 West 7th Street, Plainfield, NJ 07060-2145NJ1997-01$0
SubordinatePresbyterian Homes And Services Inc, Presbyterian Homes Of Eastern Nj13 Roszel Rd Ste C120, Princeton, NJ 08540-6292NJ1997-01$0
SubordinateSpringpoint Senior Living Inc, Senior Net Inc4814 Outlook Drive, Wall Township, NJ 07753-6812NJ1997-01$0
SubordinateSpringpoint Senior Living Inc, Springpoint At Watchung Ridge Inc4814 Outlook Dr Ste 201, Wall Township, NJ 07753-6812NJ1997-01$0
SubordinatePresbyterian Homes And Services Inc, Watchung Terrece100 Watchung Ter, Middlesex, NJ 08846-2702NJ1997-01$0
SubordinateSenior Living Institute4814 Outlook Dr Ste 201, Wall Township, NJ 07753-6812NJ1997-01$0
Number of affiliated organizations
New Jersey36
Total36

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