Overview
What is Lifecare Inc?
Lifecare Inc, also known as Friendship Village, is a Michigan-based nonprofit organization devoted to providing housing, food, and nursing care for the elderly. Established and operating retirement facilities, they aim to maintain a comfortable environment for senior citizens. Lifecare Inc extends a helping hand to those in need by offering charitable services to indigent residents, providing approximately $201,896 in assistance during 2022. Their mission is to create and manage retirement communities in Michigan, providing essential services under its hardship discount policy at reduced rates or even free of charge. The organization, with a workforce of 480 employees, ensures the well-being of its residents and offers them a sense of community and security.
Official website here: www.friendshipvillagemi.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81% (Three-Star out of Four Star Rating)
Lifecare Inc has earned an 81% score from Charity Navigator, indicating a solid level of accountability and financial health. This rating reflects their strong performance in key areas such as board independence, financial oversight, and operational transparency. The organization has a fully independent board and robust policies in place, which contribute positively to their accountability metrics.
The charity demonstrates effective management of its resources, as indicated by a program expense ratio of 86.57%, meaning a significant majority of their funds are directed towards their programs. However, they received a lower score for their liabilities to assets ratio, which was marked at 96.98%. This suggests potential concerns regarding financial stability or risk management that may be worth noting for potential donors.
Overall, Lifecare Inc appears to be a well-managed organization with a commitment to transparency. While they have strengths in governance and program funding, addressing their financial liabilities could enhance their overall rating and operational sustainability.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about Lifecare Inc?
88% of 36 reviewers on Facebook recommend Lifecare Inc. Here is a summary of their reviews:
Many employees express a deep satisfaction with their experience, highlighting the sense of community and the positive environment at the organization. One long-term team member noted the joy of working with the residents and emphasized the longstanding commitment from both staff and residents, suggesting that the atmosphere at Lifecare Inc. is warm and supportive.
Overall, it appears that Lifecare Inc. fosters a dedicated team that values the experience of both its employees and residents, which likely contributes to the high recommendation rate among reviewers. This sense of belonging and fulfillment reflects positively on the nonprofit's mission and operations.
This AI summary has been generated from reviews found on Facebook.
Is Lifecare Inc legitimate?
Lifecare Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lifecare 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: $286,876
Professional Fundraising Fees: $0
Other Salaries and Wages: $10,372,692
For more financial information, click here
Official website here: www.friendshipvillagemi.com
What is the mission statement of Lifecare Inc?
Lifecare Inc is dedicated to providing housing, food, nursing care, and related services to senior citizens. Their mission is to establish, operate, and maintain retirement facilities for the elderly, offering a place of care and support for those who meet certain criteria. The organization goes above and beyond by offering charitable services to indigent residents, providing an estimated $201,896 in charitability during 2022, without charging or at reduced rates. Lifecare Inc aims to enhance the quality of life for the elderly population by ensuring their essential needs are met.
Official website here: www.friendshipvillagemi.com
Who is the CEO of Lifecare Inc?
Tim Cain is the President of Lifecare Inc.
Official website here: www.friendshipvillagemi.com
What is the revenue of Lifecare Inc?
Lifecare Inc's revenue in 2022 was $27,431,329.
Official website here: www.friendshipvillagemi.com
Who are the executives of Lifecare Inc and what are their salaries?
The average compensation at Lifecare Inc during 2022 was $22,207. There are 480 employees and 30 volunteers at Lifecare Inc.
Here are 20 key members and their salaries:
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Official website here: www.friendshipvillagemi.com
Where can I find the form 990 for Lifecare Inc?
Lifecare Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.friendshipvillagemi.com
Learn more at the official website: www.friendshipvillagemi.com
Mission Statement of Lifecare Inc
Lifecare Inc, a Michigan-based organization, is dedicated to establishing, operating, and maintaining retirement facilities for the elderly. With a mission to provide housing, food, nursing care, and other related services to senior citizens, Lifecare goes above and beyond to ensure the well-being of its residents. The organization is deeply committed to its cause and extends support to those who meet certain criteria under its Hardship Discount Policy, offering indigent residents charitable care without charge or at reduced rates. In 2022, Lifecare provided approximately $201,896 in charitability to those in need. The organization's compassionate approach and unwavering dedication to the elderly have made it a valuable resource in the community.
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Impact
October, 2024
Lifecare Inc significantly impacts the lives of senior citizens in Michigan by providing essential services such as housing, food, and nursing care tailored to their needs. By establishing and operating retirement facilities, Lifecare Inc creates safe and supportive environments for elderly residents, ensuring they receive the care and companionship they require.
The organization prioritizes accessibility to its services through a hardship discount policy, allowing residents who face financial challenges to receive care either at no charge or at reduced rates. In 2022 alone, Lifecare Inc provided approximately $201,896 in charitable support to those in need, highlighting its commitment to uplifting vulnerable individuals within the community.
Through these initiatives, Lifecare Inc not only enriches the lives of its residents but also fosters a sense of community and belonging, allowing seniors to age with dignity and respect in a nurturing environment.
This information is meant to be a general summary of Lifecare 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 2022.
- Investment Income: $144,179
- Program Service Revenue: $21,532,423
- Gross Receipts: $30,341,731
Assets and Liabilities:
- Total Assets: $60,766,644
- Total Liabilities: $58,933,618
- Net Assets: $1,833,026
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
APARTMENT & SVC FEES
Revenue
$9,491,741
ASSISTED LIVING
Revenue
$5,465,136
MEDICAL CENTER REV.
Revenue
$4,385,377
DEF. REC-ADV/RF FEES
Revenue
$1,797,258
RESIDENT MEALS
Revenue
$290,166
Organization Details
Founding Year
1971
Phone
(269) 381-0560Principal Officer
Tim Cain
Main Address
1400 N DRAKE ROAD, KALAMAZOO, MI, 49006
Website
www.friendshipvillagemi.comNTEE Category
Code: P750 - Human services
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