Overview
What is Bay Village Endowment Fund?
The Bay Village Endowment Fund serves as a supporting organization to Bay Village of Sarasota, Inc., a non-profit lifecare community that currently offers independent living, assisted living, nursing, and memory care services for seniors. Established in 1980, the fund's primary purpose is to contribute financially to Bay Village residents who experience financial hardships, aid in the operations, maintenance, growth, and improvement of Bay Village, and support various initiatives aligned with its non-profit mission. The endowment fund is funded through donations, bequests, legacies, and proceeds from the Bay Village Gift Shop and The Down Under (resale) Shop. The fund's objective is to build a long-term financial stability to support Bay Village's mission. During 2022, the endowment fund transferred $7,000,000 to Bay Village for the construction of a memory care facility.
Is Bay Village Endowment Fund legitimate?
Bay Village Endowment Fund is a legitimate nonprofit organization registered as a 501(c)(3) entity. Bay Village Endowment Fund 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 Bay Village Endowment Fund?
The Bay Village Endowment Fund serves as a supporting organization for Bay Village of Sarasota, Inc., a non-profit lifecare community offering independent living, assisted living, nursing facilities, and senior services. Its primary purpose is to provide financial assistance to financially needy residents of Bay Village who are unable to pay due to no fault of their own. Additionally, the fund aids in the operation, maintenance, growth, and improvement of Bay Village's operations. The Endowment Fund's mission aligns with Section 501(C)(3) and 509(A)(2) of the Internal Revenue Service Code of 1986, as amended, to help fulfill Bay Village's non-profit mission. Established in 1980, the Endowment Fund supports Bay Village's commitment to the lifecare concept.
Who is the CEO of Bay Village Endowment Fund?
Eric Nichols is the Trustee of Bay Village Endowment Fund. The CEO's salary of Bay Village Endowment Fund is $0 and their total compensation is $343,169.
What is the revenue of Bay Village Endowment Fund?
Bay Village Endowment Fund's revenue in 2022 was $55,165.
Who are the executives of Bay Village Endowment Fund and what are their salaries?
There 10 volunteers at Bay Village Endowment Fund.
Here are 8 key members and their salaries (Bay Village Endowment Fund's CEO's salary is $0 and their total compensation is $343,169):
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- Related: $0
- Other: $0
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- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $323,142
- Other: $20,027
- Compensation: $0
- Related: $268,372
- Other: $18,101
Where can I find the form 990 for Bay Village Endowment Fund?
Bay Village Endowment Fund's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Bay Village Endowment Fund
The Bay Village Endowment Fund serves as a supporting organization to Bay Village of Sarasota, Inc., a non-profit lifecare community that provides various aging-related services and senior care, including independent living, assisted living, nursing, and memory care services. Established in 1980, the Endowment Fund's mission is to aid Bay Village residents who are financially disadvantaged and unable to pay due to no fault of their own. Furthermore, the Endowment Fund supports the operations, maintenance, growth, and improvement of Bay Village's various services, ensuring that its non-profit mission continues to meet the requirements of Section 501(C)(3) and 509(A)(2) of the Internal Revenue Service Code of 1986, as amended. In essence, the Bay Village Endowment Fund is dedicated to assisting Bay Village residents and upholding its non-profit mission by providing financial aid and supporting its operations, thereby ensuring the continuation of its lifecare services for seniors.
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Impact
October, 2024
The Bay Village Endowment Fund plays a crucial role in enhancing the quality of life for residents of Bay Village in Sarasota, Florida. By providing essential financial support, the fund ensures that elderly residents facing unexpected financial difficulties can continue to receive care without interruption.
In 2022 alone, the Fund transferred $7 million to facilitate the construction of a new Memory Care Facility, illustrating its commitment to expanding aging-related services and improving facilities. This support not only addresses immediate needs but also contributes to the long-term stability and ongoing improvement of the entire community.
The Endowment Fund is sustained through various contributions, including individual donations, estates, and proceeds from local shops, allowing it to continuously grow and provide for future needs. By assisting in the operation, maintenance, and enhancement of Bay Village, the Fund helps fulfill its mission to support seniors and promote their health and well-being within a comprehensive, life-care environment.
This information is meant to be a general summary of Bay Village Endowment Fund. 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: -$41,813
- Gross Receipts: $7,415,013
Assets and Liabilities:
- Total Assets: $10,561,221
- Total Liabilities: $14,179
- Net Assets: $10,547,042
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Organization Details
Founding Year
1980
Phone
(941) 966-5611Principal Officer
Eric Nichols
Main Address
8400 VAMO ROAD, SARASOTA, FL, 34231
NTEE Category
Code: L22I - Housing
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