SILVER MAPLES OF CHELSEA

EIN: 383258132 501(c)(3) Housing & Shelter

CHELSEA, MI

Total Revenue
$11,085,896
Total Expenses
$10,002,192
Total Assets
$40,199,477
Net Assets
$9,975,367
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1995
Legal Domicile
MI
Principal Officer
HOLLY RIDENOUR
Phone
7344754111
Tax Period
2024-01-01 to 2024-12-31

SILVER MAPLES OF CHELSEA, founded in 1995, is a mid-sized nonprofit in the Housing & Shelter sector that reported $11.1M in total revenue in fiscal year 2024. Revenue grew 11% year-over-year, indicating healthy expansion. Expenses of $10.0M left a modest 10% surplus.

Mission

SILVER MAPLES OF CHELSEA RETIREMENT NEIGHBORHOOD IS A VIBRANT COMMUNITY THAT EXCELS AT CREATING AND SUPPORT A POSITIVE AGING EXPERIENCE. SILVER MAPLES OF CHELSEA WILL PROMOTE ENRICHING EXPERIENCES TO INSPIRE PERSONAL GROWTH, CREATE OPPORTUNITIES TO DEVELOP MEANINGFUL RELATIONSHIPS AMONG FRIENDS, FAMILY AND COMMUNITY AND PROVIDE A HEALTHY, SECURE AND SUPPORTIVE PLACE TO CALL HOME. OUR MISSION AND VISION IS CLEARLY ALIGNED WITH OUR PARTNERS, THE 5 HEALTHY TOWNS ORGANIZATION AND SILVER MAPLES, INC. THE MISSION OF THE 5 HEALTHY TOWNS IS TO CULTIVATE IMPROVEMENTS IN PERONAL AND COMMUNITY WELLNESS.

Program Service Accomplishments

Program 1
Expenses: $8,726,033 Revenue: $10,560,665

SILVER MAPLES OF CHELSEA PROVIDES SENIOR CARE SERVICES, WELLNESS ACTIVITIES AND AMENITIES FOR RESIDENT STYLE INDEPENDENT LIVING HOUSING AND LICENSED ASSISTED LIVING ACCOMMODATIONS. THE MEADOWS...

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SILVER MAPLES OF CHELSEA PROVIDES SENIOR CARE SERVICES, WELLNESS ACTIVITIES AND AMENITIES FOR RESIDENT STYLE INDEPENDENT LIVING HOUSING AND LICENSED ASSISTED LIVING ACCOMMODATIONS. THE MEADOWS ASSISTED LIVING OFFERS APARTMENTS FOR COUPLES AND INDIVIDUALS WHO VALUE THE INDEPENDENCE OF HOME AND THE CONVENIENCE OF ONSITE LICENSED CARE. RESIDENTS RECEIVE THREE NUTRITIOUS MEALS EVERY DAY, SERVED IN MULTIPLE DINING VENUES. THERE ARE 4 LEVELS OF ASSISTANCE WITH ACTIVITIES OF DAILY LIVING, WEEKLY HOUSEKEEPING AND LAUNDRY AND WELL-BALANCED AND DYNAMIC EVENT AND ACTIVITY PROGRAMMING. RESIDENTIAL INDEPENDENT LIVING CONDO STYLE HOMES AND APARTMENTS ARE PROVIDED FOR INDIVIDUALS AND COUPLES WHO VALUE COMFORT, CONVENIENCE AND COMMUNITY. SEVERAL DISTINCTIVE OPTIONS ARE AVAILABLE, (CONTINUED ON SCHEDULE O) WITH AMENITIES SUCH AS 10 TO 20 MEALS PER MONTH, UTILITIES, 24-HOUR IN-HOUSE CALL SYSTEMS, MAINTENANCE SERVICES, LOCAL TRANSPORTATION AND A MULTIFACETED EVENT AND ACTIVITY PROGRAM WITH AN EMPHASIS ON OVERALL WELLNESS. THE SILVER LINING FUND IS A PROGRAM CONCEIVED BY AND FOR RESIDENTS OF SILVER MAPLES TO PROVIDE FINANCIAL ASSISTANCE TO ANY RESIDENT WHO OUTLIVES HIS OR HER FINANCIAL ASSETS, ENSURING THEY ALWAYS HAVE A HOME AT SILVER MAPLES. EACH DONATION TO THE SILVER LINING FUND HAS A DIRECT IMPACT ON AN INDIVIDUAL IN NEED. IN ADDITION TO PROVIDING EVENTS AND RESOURCES FOR OUR RESIDENTS, SILVER MAPLES SUPPORTS THE LOCAL COMMUNITY. SILVER MAPLES IS A VERY ACTIVE MEMBER OF THE CHELSEA COMMUNITY AND A MEMBER OF BOTH THE CHELSEA AREA CHAMBER OF COMMERCE AND THE DEXTER AREA CHAMBER OF COMMERCE. SILVER MAPLES SPONSORS AND PARTICIPATES IN MANY LOCATION GROUPS, EVENTS AND ORGANIZATIONS, INCLUDING: ALZHEIMER'S ASSOCIATION, SOUNDS & SIGHTS, THE CHELSEA SENIOR CENTER, THE CHELSEA ROTARY CLUB, TO NAME A FEW. SILVER MAPLES HOSTS SEVERAL CHELSEA ARTIST GUILD AND ANN ARBOR ARTIST GUILD ART DISPLAYS, AS WELL AS MANY CHELSEA ROTARY CLUB AND CHELSEA CHAMBER EVENTS. RESIDENTS AND STAFF OF SILVER MAPLES ARE MEMBERS OF SERVICE ORGANIZATIONS, THE CHELSEA GARDEN CLUB, THE FARM TO TABLE EVENT IN CHELSEA, THE CHELSEA SENIOR CENTER, AND THE CHELSEA ARTISTS GUILD. SEVERAL RESIDENTS ALSO PARTICIPATE IN THE EMERSON SCHOOL MENTORSHIP PROGRAM AND SERVE AS READERS FOR NORTH CREEK ELEMENTARY SCHOOL. THE PRESIDENT AND CEO OF SILVER MAPLES IS AN ACTIVE MEMBER OF THE ROTARY CLUB OF CHELSEA AND SERVES ON THE BOARD OF THE CHELSEA AREA CHAMBER OF COMMERCE, THE CHELSEA HOSPITAL, AND THE CHELSEA SENIOR CENTER.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $215,023
Program Service Revenue $10,560,665
Investment Income $294,528
Other Revenue $15,680
TOTAL REVENUE $11,085,896

Expense Breakdown

Grants Paid $59,464
Salaries & Benefits $4,747,937
Fundraising Expenses $65,369
Program Expenses $8,726,033
Other Expenses $5,194,791
TOTAL EXPENSES $10,002,192

Year-over-Year Comparison

2024 2023 Change
Revenue $11,085,896 $9,956,188 +0.1%
Expenses $10,002,192 $9,581,203 +0.0%
Net Income $1,083,704 $374,985 +1.9%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Liquidity & Cash Position

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Governance

Voting Members
6
Independent Members
6
Employees
181
Volunteers
14

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
3
$225,313
Total Directors
6
$0
Key Employees
0
$0
Highest Compensated
2
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JULIE A DEPPNER - FORMER PRESIDENT AND CEO 40.00
Officer
$224,849 $464 $225,313
CHRISTINA M KIM V.P. SALES/MARKETING 40.00
Highest
$133,693 $0 $133,693
JOANNE DOBRY REYNOLDS V.P. HUMAN RESOURCES 40.00
Highest
$127,402 $0 $127,402
ELIZABETH PIELSTICKER DIRECTOR 2.00
Director
$0 $0 $0
ERIK STALHANDSKE DIRECTOR 2.00
Director
$0 $0 $0
JAMES RANDOLPH DIRECTOR 2.00
Director
$0 $0 $0
JESSICA STUBBS DIRECTOR 2.00
Director
$0 $0 $0
STEVE PETTY CHAIR 2.00
Officer Director
$0 $0 $0
TODD RAEHTZ TREASURER 2.00
Officer Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 $11,085,896 $10,002,192 $40,199,477 $1,083,704
2023 $9,956,188 $9,581,203 $39,020,578 $374,985
2022 $13,085,540 $9,210,585 $43,214,954 $3,874,955
2021 $10,664,432 $8,266,325 $47,439,863 $2,398,107
2020 $8,841,515 $7,729,251 $41,719,939 $1,112,264
2019 $8,915,016 $7,587,383 $37,290,218 $1,327,633
2018 $9,004,522 $7,328,710 $35,093,113 $1,675,812
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