WESTMINSTER INGLESIDE PRESBYTERIAN FOUNDATION

EIN: 541949766 501(c)(3) Housing & Shelter

ROCKVILLE, MD

Total Revenue
$3,559,054
Total Expenses
$2,645,099
Total Assets
$29,483,574
Net Assets
$22,976,812
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Financial Trends

Organization Details

Formation Year
1999
Legal Domicile
VA
Principal Officer
JAMES SPENCER
Phone
3014072030
Tax Period
2023-01-01 to 2023-12-31

WESTMINSTER INGLESIDE PRESBYTERIAN FOUNDATION, founded in 1999, is a community nonprofit in the Housing & Shelter sector that reported $3.6M in total revenue in fiscal year 2023. Revenue decreased 12% compared to the prior year. The organization ran a surplus of $914K, a strong 26% operating margin.

Mission

THE MISSION OF WESTMINSTER INGLESIDE PRESBYTERIAN FOUNDATION IS TO SUPPORT THE CHARITABLE ACTIVITIES OF THE INGLESIDE PRESBYTERIAN RETIREMENT COMMUNITY, INC., THE WESTMINSTER PRESBYTERIAN RETIREMENT COMMUNITY, INC., AND THE KING FARM PRESBYTERIAN RETIREMENT COMMUNITY, INC. BY RAISING CHARITABLE FUNDS TO HELP RESIDENTS IN NEED, ENHANCING THE QUALITY OF LIFE FOR ALL RESIDENTS, AND BUILDING AN ENDOWMENT FOR THE FUTURE.

Program Service Accomplishments

Program 1
Expenses: $194,062 Revenue: $0

WESTMINSTER/INGLESIDE/KING FARM RESIDENT SUPPORTING FUND PROGRAM:SINCE THE OPENING OF THE PRESBYTERIAN HOME OF THE DISTRICT OF COLUMBIA IN 1906, NOW NAMED INGLESIDE PRESBYTERIAN RETIREMENT COMMUNITY...

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WESTMINSTER/INGLESIDE/KING FARM RESIDENT SUPPORTING FUND PROGRAM:SINCE THE OPENING OF THE PRESBYTERIAN HOME OF THE DISTRICT OF COLUMBIA IN 1906, NOW NAMED INGLESIDE PRESBYTERIAN RETIREMENT COMMUNITY, INC. (INGLESIDE AT ROCK CREEK), AND ITS SISTER COMMUNITIES, WESTMINSTER PRESBYTERIAN RETIREMENT COMMUNITY, INC. (WESTMINSTER AT LAKE RIDGE) AND KING FARM PRESBYTERIAN RETIREMENT COMMUNITY, INC. (INGLESIDE AT KING FARM), NO RESIDENT HAS EVER BEEN ASKED TO LEAVE DUE TO LACK OF FINANCIAL RESOURCES. THE WESTMINSTER INGLESIDE PRESBYTERIAN FOUNDATION (WIF) CONTINUES THIS ESSENTIAL TRADITION BY RAISING CHARITABLE FUNDS FOR RESIDENT SUPPORTING FUNDS (RSF). THROUGH THE RSF, CONFIDENTIAL SUBSIDIES TO RESIDENTS IN INDEPENDENT, MEMORY SUPPORTED ASSISTED LIVING, AND ASSISTED LIVING, WHO THROUGH NO FAULT OF THEIR OWN, FIND THEMSELVES NO LONGER ABLE TO AFFORD THEIR MONTHLY FINANCIAL OBLIGATIONS, ARE ABLE TO STAY IN THE COMFORTABLE AND FAMILIAR PLACE THEY CALL HOME. IN 2023 WIF GRANTED $194,062 TO RESIDENTS TO PAY FOR HOUSING, MEALS AND CARE. OVER THE PAST 5 YEARS, WIF HAS PROVIDED $1,039,441 OF ASSISTANCE TO RESIDENTS IN NEED.

Program 2
Expenses: $1,929,241 Revenue: $0

WESTMINSTER INGLESIDE FOUNDATION HAS THREE ENDOWMENT FUNDS AS WELL AS ANNUAL CAMPAIGNS TO SUPPORT A COMPREHENSIVE EMPLOYEE PROFESSIONAL DEVELOPMENT PROGRAM. ADDITIONALLY, THIS PROGRAM PROVIDES...

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WESTMINSTER INGLESIDE FOUNDATION HAS THREE ENDOWMENT FUNDS AS WELL AS ANNUAL CAMPAIGNS TO SUPPORT A COMPREHENSIVE EMPLOYEE PROFESSIONAL DEVELOPMENT PROGRAM. ADDITIONALLY, THIS PROGRAM PROVIDES FINANCIAL AID AND GUIDANCE FOR EMPLOYEES APPLYING FOR U.S. CITIZENSHIP. IN 2023, 84 SCHOLARSHIPS WERE AWARDED TO INGLESIDE EMPLOYEES TOTALING $197,804. SINCE INCEPTION, 350 SCHOLARSHIPS HAVE BEEN AWARDED TOTALING $850,000. WESTMINSTER INGLESIDE FOUNDATION PROVIDES SUPPORT FOR CAPITAL IMPROVEMENTS AND PROGRAM ENHANCEMENTS THAT BENEFIT INGLESIDE COMMUNITIES. PROGRAMS SUPPORTED INCLUDE SKILLED NURSING, ASSISTED LIVING, MEMORY SUPPORT SERVICES, MUSIC AND CULTURAL PROGRAMMING, INNOVATION IN ROBOTICS, OPERATIONS, AND MISSION EXPANSION. THE TOTAL OF FUNDS TRANSFERRED TO THE COMMUNITIES IN SUPPORT OF THESE EFFORTS WAS $1,731,437.

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

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $3,661,621
Program Service Revenue $0
Investment Income $-96,814
Other Revenue $-5,753
TOTAL REVENUE $3,559,054

Expense Breakdown

Grants Paid $2,123,303
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $2,123,303
Other Expenses $521,796
TOTAL EXPENSES $2,645,099

Year-over-Year Comparison

2023 2022 Change
Revenue $3,559,054 $4,039,347 -0.1%
Expenses $2,645,099 $2,141,168 +0.2%
Net Income $913,955 $1,898,179 -0.5%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
17
Independent Members
16
Employees
4
Volunteers
15

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
10
$2,012,600
Total Directors
17
$403,132
Key Employees
1
$172,661
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DOUGLAS MYERS WIF PRESIDENT & CEO 40.00
Officer Director
$0 $24,099 $403,132
PEGGY CECCHINE DIRECTOR 1.00
Director
$0 $0 $0
JANET KELLEY CHAIR 1.00
Officer Director
$0 $0 $0
DANIEL RUBINFELD VICE-CHAIRMAN 1.00
Officer Director
$0 $0 $0
CATHY WRIGHT SECRETARY 1.00
Officer Director
$0 $0 $0
DON BOARDMAN DIRECTOR 1.00
Director
$0 $0 $0
ROBERT BREMNER DIRECTOR 1.30
Officer Director
$0 $0 $0
ALICE BUHL DIRECTOR 1.00
Director
$0 $0 $0
DALE CLARK DIRECTOR 1.00
Director
$0 $0 $0
JIM FORD DIRECTOR 1.00
Director
$0 $0 $0
JIM GEORGE DIRECTOR 1.00
Director
$0 $0 $0
RICHARD HALL DIRECTOR 1.00
Director
$0 $0 $0
REGIS KEDDIE II DIRECTOR 1.00
Director
$0 $0 $0
ROBERT LEN DIRECTOR 1.00
Director
$0 $0 $0
DR PETER WILLSON DIRECTOR 1.00
Director
$0 $0 $0
SY HERMAN DIRECTOR 1.00
Director
$0 $0 $0
BRUCE BARTELS IMMEDIATE PAST CHAIR 0.80
Officer Director
$0 $0 $0
LYNN O'CONNOR PRESIDENT/CEO 8.00
Officer
$0 $37,262 $632,695
CHRISTINE PODLES COO 8.00
Officer
$0 $11,348 $345,209
DUSANKA DELOVSKA-TRAKOVA CIO 8.00
Officer
$0 $11,653 $295,761
TRACI ALLEY CHIEF HR OFFICER 8.00
Officer
$0 $14,904 $335,803
JENNIFER SARGENT VP HUMAN RESOURCES 5.00
Key Emp
$0 $11,288 $172,661
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 No data No data No data No data
2023 $3,559,054 $2,645,099 $29,483,574 $913,955
2022 $4,039,347 $2,141,168 $24,755,860 $1,898,179
2021 $4,637,966 $1,810,264 $26,410,729 $2,827,702
2020 $4,046,751 $1,217,204 $21,042,625 $2,829,547
2019 $6,679,999 $1,165,431 $15,346,738 $5,514,568
2018 $2,467,339 $1,093,549 $9,189,043 $1,373,790
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