Overview
What is Craigside Retirement Residence?
Craigside Retirement Residence is a nonprofit organization in Honolulu, Hawaii, that offers senior living with a focus on health, wellbeing, and financial security. They provide housing, healthcare, and a superior continuum of assured lifetime care to cater to the spiritual, physical, and social needs of their 180 residents. The monthly fee charged includes room, board, and additional services, averaging $4,568 per resident in 2022, with Craigside covering all expenses. New residents pay for a lifetime interest in their apartment, and the revenue from entrance fee amortization is recognized over the expected resident's life.
Official website here: www.arcadia.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81% (Three-Star out of Four Stars)
Craigside Retirement Residence has received a Three-Star rating from Charity Navigator, indicating a solid performance in terms of accountability and finance. This rating is derived solely from their Accountability & Finance score, which suggests a strong emphasis on transparency and responsible management of funds, essential factors for donor trust and organizational integrity.
The organization demonstrates notable strengths, particularly in governance, with an independent board consisting of 80% independent members and strong financial oversight mechanisms. Their comprehensive policies, including conflict of interest, whistleblower, and document retention policies, further reinforce their commitment to ethical practices. Additionally, they exhibit a high program expense ratio of 79.06%, indicating that a significant portion of their budget is allocated to their core mission rather than administrative costs.
However, while Craigside Retirement Residence shows a commendable focus on financial accountability, the data does not provide insight into the effectiveness of their programs or overall impact on the community they serve. Furthermore, the salaries of key personnel are relatively high, which could raise concerns among some stakeholders regarding compensation fairness and its alignment with nonprofit standards.
This AI summary has been generated from information found on Charity Navigator.
Is Craigside Retirement Residence legitimate?
Craigside Retirement Residence is a legitimate nonprofit organization registered as a 501(c)(3) entity. Craigside Retirement Residence 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: $9,369,492
For more financial information, click here
Official website here: www.arcadia.org
What is the mission statement of Craigside Retirement Residence?
Craigside Retirement Residence is dedicated to providing senior living with excellence in a gracious, compassionate, and dynamic environment. Their primary objective is to promote the health and general welfare of the elderly population. They achieve this by offering housing, healthcare, and financial security, ensuring a superior continuum of care that caters to the spiritual, physical, and social needs of every resident. Craigside Retirement Residence is committed to enhancing the lives of seniors by providing them with a nurturing and supportive living experience.
Official website here: www.arcadia.org
Who is the CEO of Craigside Retirement Residence?
Vivian Lai is the President & Ceo of Craigside Retirement Residence. The CEO's salary of Craigside Retirement Residence is $0 and their total compensation is $375,992.
Official website here: www.arcadia.org
What is the revenue of Craigside Retirement Residence?
Craigside Retirement Residence's revenue in 2022 was $23,543,885.
Official website here: www.arcadia.org
Who are the executives of Craigside Retirement Residence and what are their salaries?
There 8 volunteers at Craigside Retirement Residence.
Here are 15 key members and their salaries (Craigside Retirement Residence's CEO's salary is $0 and their total compensation is $375,992):
- Compensation: $0
- Related: $343,584
- Other: $32,408
- Compensation: $0
- Related: $248,875
- Other: $18,709
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $176,765
- Related: $0
- Other: $14,603
- Compensation: $140,307
- Related: $0
- Other: $11,894
- Compensation: $123,172
- Related: $0
- Other: $10,535
- Compensation: $119,493
- Related: $0
- Other: $9,876
- Compensation: $124,374
- Related: $0
- Other: $10,620
Official website here: www.arcadia.org
Where can I find the form 990 for Craigside Retirement Residence?
Craigside Retirement Residence's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.arcadia.org
Learn more at the official website: www.arcadia.org
Mission Statement of Craigside Retirement Residence
Craigside Retirement Residence is dedicated to enhancing the lives of the elderly in a compassionate and dynamic environment. With a primary focus on their holistic well-being, the organization strives to provide senior living excellence by ensuring housing, healthcare, and financial security. Craigside Retirement Residence offers a superior continuum of assured lifetime care, designed to cater to the spiritual, physical, and social needs of every resident. By prioritizing the health and general welfare of the elderly, the organization aims to create an atmosphere of grace and sophistication where seniors can thrive.
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Impact
October, 2024
Craigside Retirement Residence significantly enhances the quality of life for seniors in Honolulu by providing a nurturing and dynamic environment that prioritizes their health and well-being. It offers a comprehensive range of services, including housing, healthcare, and financial security, which collectively fulfill the diverse spiritual, physical, and social needs of its residents.
By accommodating 180 residents and facilitating an average monthly fee of $4,568, Craigside ensures that all expenses are managed effectively, allowing seniors to focus on their well-being without financial burdens. The structure of lifetime interest through entrance fees further establishes a sense of security, enabling seniors to live comfortably and confidently within the community.
Craigside's commitment to excellence in senior living not only fosters a compassionate atmosphere but also strengthens social connections among residents, contributing to their overall happiness and longevity. Through these efforts, Craigside plays a crucial role in promoting the welfare of the elderly, ensuring they experience a fulfilling and dignified lifestyle.
This information is meant to be a general summary of Craigside Retirement Residence. 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 2022.
- Investment Income: $28,426
- Program Service Revenue: $22,080,024
- Gross Receipts: $23,610,036
Assets and Liabilities:
- Total Assets: $59,015,536
- Total Liabilities: $107,741,739
- Net Assets: -$48,726,203
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MONTHLY SERVICE CHARGE
Revenue
$9,330,934
MEDICAL CENTER
Revenue
$6,533,382
ENTRANCE FEE AMORTIZATION
Revenue
$4,663,784
ASSISTED LIVING
Revenue
$1,410,006
MISCELLANEOUS
Revenue
$141,918
Organization Details
Founding Year
2006
Phone
(808) 941-0941Principal Officer
Vivian Lai
Main Address
1434 PUNAHOU STREET, HONOLULU, HI, 96822
Website
www.arcadia.orgNTEE Category
Code: P75 - Human services
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