Overview
What is Deerfield Episcopal Retirement Community Inc?
Deerfield Episcopal Retirement Community Inc, a North Carolina nonprofit corporation based in Asheville, NC, operates a continuing care retirement community. Governed by a board of directors, Deerfield ensures the emotional, recreational, social, and religious needs of its elderly residents, as well as their health care and financial security. The organization has a benevolent assistance fund for residents in need, identified through financial assessments. In the year ended September 30, 2022, Deerfield forgone approximately $394,000 in charges for its benevolent assistance program. Operating under the 'lifecare' concept, Deerfield requires residents to enter into an agreement for services and facilities over their lifetime, paying a one-time entrance fee and monthly service fees. The organization also provides meeting and office space for three non-profit organizations, foregoing an estimated $303,000 in annual rental income. Additionally, Deerfield offers charitable donations and volunteer services worth $1,224,000 during the same year. Overall, Deerfield's mission is to provide a nonprofit retirement community guided by Christian ideals, offering a continuum of care for all people, promoting independence and the highest quality of life, and providing physical and financial security.
Official website here: www.deerfieldwnc.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 83% (Three-Star out of Four Star Rating)
Deerfield Episcopal Retirement Community Inc has received a Three-Star rating from Charity Navigator, reflecting an overall score of 83%. This rating highlights the organization's strong performance in Accountability & Finance, indicating a solid commitment to responsible financial management. The organization has effectively maintained a high level of transparency and governance, as evidenced by its independent board composition and established policies.
One of the key strengths of Deerfield Episcopal Retirement Community is its high percentage of independent board members, which not only enhances governance but also minimizes potential conflicts of interest. Additionally, the organization has been recognized for its effective financial oversight practices, such as having a thorough audit and oversight committee in place, as well as robust documentation of board meeting minutes.
However, the nonprofit has room for improvement, particularly in the area of its liabilities to assets ratio, which is at 66.90%. While it maintains a strong program expense ratio of 88.84%, indicating that most of its expenditures are directed towards its programs, the liabilities may pose a concern for financial stability in the long term. Overall, Deerfield Episcopal Retirement Community demonstrates a commitment to accountability, but stakeholders should remain aware of its financial liabilities.
This AI summary has been generated from information found on Charity Navigator.
Is Deerfield Episcopal Retirement Community Inc legitimate?
Deerfield Episcopal Retirement Community Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Deerfield Episcopal Retirement Community 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: $696,741
Professional Fundraising Fees: $0
Other Salaries and Wages: $12,827,152
For more financial information, click here
Official website here: www.deerfieldwnc.org
What is the mission statement of Deerfield Episcopal Retirement Community Inc?
Deerfield Episcopal Retirement Community, Inc. is a nonprofit organization dedicated to operating a continuing care retirement community, guided by Christian ideals. Its mission is to provide a continuum of care for all people, promoting independence and the highest quality of life, while ensuring physical and financial security. Deerfield satisfies the Internal Revenue Service requirements for a Section 501(c)(3) exemption by meeting the needs of aged persons for housing, health care, and financial security. The organization has established a benevolent assistance fund to provide aid to residents in need, identifying them based on financial information and subsequent review. In addition to housing its residents, Deerfield also provides meeting and office space for three non-profit organizations, foregoing approximately $303,000 in annual rental income. The community offers numerous charitable donations and donated volunteer services, totaling $1,224,000 during the previous fiscal year.
Official website here: www.deerfieldwnc.org
Who is the CEO of Deerfield Episcopal Retirement Community Inc?
Robert K Chandler is the Chair of Deerfield Episcopal Retirement Community Inc. The CEO's salary of Deerfield Episcopal Retirement Community Inc is $0 and their total compensation is $0.
Official website here: www.deerfieldwnc.org
What is the revenue of Deerfield Episcopal Retirement Community Inc?
Deerfield Episcopal Retirement Community Inc's revenue in 2022 was $43,307,731.
Official website here: www.deerfieldwnc.org
Who are the executives of Deerfield Episcopal Retirement Community Inc and what are their salaries?
The average compensation at Deerfield Episcopal Retirement Community Inc during 2022 was $32,277. There are 419 employees and 120 volunteers at Deerfield Episcopal Retirement Community Inc.
Here are 26 key members and their salaries (Deerfield Episcopal Retirement Community Inc's CEO's salary is $0 and their total compensation is $0):
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- Compensation: $416,794
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- Other: $298,025
- Compensation: $279,947
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- Other: $135,111
- Compensation: $199,779
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- Compensation: $145,611
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- Other: $9,408
- Compensation: $134,732
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- Other: $17,623
Official website here: www.deerfieldwnc.org
Where can I find the form 990 for Deerfield Episcopal Retirement Community Inc?
Deerfield Episcopal Retirement Community Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.deerfieldwnc.org
Learn more at the official website: www.deerfieldwnc.org
Mission Statement of Deerfield Episcopal Retirement Community Inc
Deerfield Episcopal Retirement Community, Inc., a North Carolina-based nonprofit organization, is dedicated to providing a continuum of care to all individuals in a religious atmosphere. Guided by Christian ideals, the mission of Deerfield is threefold: first, to operate a retirement community that addresses the emotional, recreational, social, religious, and similar needs of aged persons; second, to offer physical and mental health services to its residents or through arrangements with outside organizations; and third, to ensure financial security by maintaining residents in residence regardless of their ability to pay and by providing services at the lowest feasible cost. In keeping with its commitment to providing care for those in need, Deerfield has established a Benevolent Assistance Fund, which is used exclusively to help residents facing financial hardships.
Deerfield Episcopal Retirement Community operates under the "lifecare" concept, requiring residents to enter into an agreement specifying the services and facilities to be provided to them throughout their remaining lives. This arrangement necessitates a one-time entrance fee and monthly service fees, with the organization retaining the ability to increase fees as needed. In addition to its commitment to its residents, Deerfield also makes significant contributions to the community. The organization provides meeting and office space for three non-profit organizations at no cost, foregoing an estimated $303,000 in annual rental income. Furthermore, Deerfield donated a substantial amount of $1,224,000 in charitable contributions and volunteer services during the previous fiscal year.
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Impact
October, 2024
Deerfield Episcopal Retirement Community Inc has a profound impact on the lives of its residents and the larger community in Asheville, NC. Operating as a continuing care retirement community, it provides a comprehensive array of services designed to meet the emotional, social, recreational, spiritual, and health needs of elderly individuals. This holistic approach fosters a supportive environment for residents to thrive.
The organization's commitment to lifelong care is highlighted by its Life Care concept, ensuring that residents have access to necessary services throughout their lives, regardless of changes in financial circumstances. With a robust Benevolent Assistance Fund, Deerfield is dedicated to maintaining residents in residence even if they encounter financial hardships, having provided approximately $394,000 in assistance during the last fiscal year. This safety net is essential in ensuring that all residents can secure both physical and financial stability.
Additionally, Deerfield actively contributes to the broader community by offering meeting and office space for nonprofit organizations, contributing an estimated $303,000 in foregone rental income annually. Furthermore, the organization engages in extensive charitable donations and volunteer services valued at around $1,224,000, enhancing its role as a pillar of support in the community.
Guided by Christian ideals, Deerfield not only promotes independence and the highest quality of life for its residents but also embodies a model of compassion and community service. The impact of Deerfield Episcopal Retirement Community extends beyond its walls, enriching the lives of many while fostering a caring and inclusive environment for the elderly in Asheville.
This information is meant to be a general summary of Deerfield Episcopal Retirement Community 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: $5,362,933
- Program Service Revenue: $36,110,794
- Gross Receipts: $43,315,516
Assets and Liabilities:
- Total Assets: $241,626,533
- Total Liabilities: $161,664,509
- Net Assets: $79,962,024
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RESIDENT FEES
Revenue
$26,302,759
AMORTIZATION OF ENTRANCE FEES
Revenue
$9,254,453
ADDITIONAL RESIDENT SERVICES
Revenue
$553,582
Organization Details
Founding Year
1955
Phone
(828) 274-1531Principal Officer
Robert K Chandler
Main Address
1617 HENDERSONVILLE ROAD, ASHEVILLE, NC, 28803
Website
www.deerfieldwnc.orgNTEE Category
Code: P750 - Human services
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