Overview
What is Westminster Retirement Communities Foundation Inc?
Westminster Retirement Communities Foundation Inc is a Florida-based non-profit organization, separate from Westminster Retirement Communities Inc and its affiliates. Established to provide charitable funds, the foundation supports needy individuals, projects, and programs at retirement communities and healthcare facilities under the management of Westminster Retirement Communities Inc and Presbyterian Retirement Communities Inc. The foundation maintains all endowment funds, benevolent assistance for residents, investments, and certain related liabilities. Notably, all members of Westminster Retirement Communities Inc's board of directors also serve on the foundation's board.
What are the reviews and ratings of this charity?
Charity Navigator Rating 94% - Four-Star out of Four Star rating
Westminster Retirement Communities Foundation Inc has achieved a Four-Star rating from Charity Navigator, reflecting a strong performance in accountability and finance. The charity's overall score is entirely based on its financial practices, indicating a high level of transparency and responsible management of resources.
The organization boasts an impressive board composition with 78% independent members, which contributes to its governance effectiveness. Additionally, it has established robust policies, including conflict of interest and whistleblower policies, ensuring ethical operations. These elements demonstrate a commitment to accountability and transparency, vital for maintaining donor trust.
Financially, Westminster Retirement Communities Foundation Inc shows a solid program expense ratio of 93.06%, meaning a significant portion of its funding goes directly to its programs. The low liabilities to assets ratio of 3.27% further emphasizes its stability and prudent financial management. Overall, the foundation is well-regarded for its operational integrity and financial health.
This AI summary has been generated from information found on Charity Navigator.
Is Westminster Retirement Communities Foundation Inc legitimate?
Westminster Retirement Communities Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Westminster Retirement Communities Foundation Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Westminster Retirement Communities Foundation Inc?
Westminster Retirement Communities Foundation, Inc. is a separate non-profit organization from Westminster Retirement Communities and its affiliates, dedicated to raising charitable funds for the support of needy individuals and initiatives at retirement communities and healthcare facilities managed by Westminster Retirement Communities, Inc. and Presbyterian Retirement Communities, Inc. The foundation overseees the management of endowment funds, benevolent assistance for residents, investments, and certain related liabilities. All members of Westminster Retirement Communities, Inc.'s board of directors also serve on the foundation's board, ensuring close collaboration between the two entities. The foundation's primary objective is to provide essential resources and assistance to those in need within the retirement communities and healthcare facilities it serves.
Who is the CEO of Westminster Retirement Communities Foundation Inc?
Terence Rogers is the CEO of Westminster Retirement Communities Foundation Inc The CEO's salary of Westminster Retirement Communities Foundation Inc is $0 and their total compensation is $836,263.
What is the revenue of Westminster Retirement Communities Foundation Inc?
Westminster Retirement Communities Foundation Inc's revenue in 2024 was $9,099,800.
Who are the executives of Westminster Retirement Communities Foundation Inc and what are their salaries?
Here are 16 key members and their salaries (Westminster Retirement Communities Foundation Inc's CEO's salary is $0 and their total compensation is $836,263):
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- Related: $791,826
- Other: $44,437
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- Related: $613,220
- Other: $29,978
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- Related: $564,179
- Other: $28,188
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Where can I find the form 990 for Westminster Retirement Communities Foundation Inc?
Westminster Retirement Communities Foundation Inc's most recent form 990 was submitted in 2024 and can be accessed here.
Mission Statement of Westminster Retirement Communities Foundation Inc
Westminster Retirement Communities Foundation, Inc. is a distinct non-profit organization, separate from Westminster Retirement Communities, Inc. and its affiliates. The Foundation was established with the primary goal of raising charitable funds to support the needs of individuals and initiatives at retirement communities and healthcare facilities managed by Westminster Retirement Communities, Inc. and Presbyterian Retirement Communities, Inc.
The Foundation maintains various endowment funds, manages benevolent assistance for residents, and oversees investments and related liabilities. Notably, all members of Westminster Retirement Communities, Inc.'s Board of Directors also serve on the Foundation's Board of Directors.
In essence, Westminster Retirement Communities Foundation, Inc. acts as a philanthropic arm for Westminster Retirement Communities, providing essential resources to enhance the quality of life and care for those in need within its managed retirement communities and healthcare facilities.
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Impact
October, 2024
Westminster Retirement Communities Foundation Inc plays a vital role in enhancing the quality of life for residents within retirement communities and healthcare facilities. By providing charitable funding, the Foundation supports needy individuals, specific projects, and essential programs that directly benefit those in its affiliated communities.
The Foundation’s commitment to benevolent assistance ensures that residents facing financial hardships receive the necessary support, allowing them to maintain their dignity and well-being. Through endowment funds and prudent investment management, the Foundation establishes a sustainable financial lifeline for ongoing support, which is crucial in a sector that often faces funding challenges.
The collaborative governance between the Foundation and Westminster Retirement Communities promotes a cohesive strategy to address the diverse needs of residents. This integration allows for a focused approach to ensuring that all individuals in these communities have access to the resources and care they need, fostering a stronger, more supportive environment.
Overall, the Foundation’s impact is seen in improved living conditions, enhanced healthcare access, and a stronger sense of community among residents, enriching their lives and enabling them to thrive in their later years.
This information is meant to be a general summary of Westminster Retirement Communities Foundation Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2024.
- Investment Income: $2,700,461
- Gross Receipts: $30,526,518
Assets and Liabilities:
- Total Assets: $107,356,228
- Total Liabilities: $3,373,218
- Net Assets: $103,983,010
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Organization Details
Founding Year
1974
Principal Officer
Henry T Keith
NTEE Category
Code: L120 - Housing
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