Deerfield Episcopal Retirement Comm Inc.
Deerfield Episcopal Retirement Comm Inc.
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About this organization
Mission
LIFETIME CARE IN A RELIGIOUS ATMOSPHERE
About
DEERFIELD EPISCOPAL RETIREMENT COMMUNITY, INC. ("DEERFIELD"), A NORTH CAROLINA NONPROFIT CORPORATION, WAS ORGANIZED FOR THE PURPOSE OF OPERATING A CONTINUING CARE RETIREMENT COMMUNITY. DEERFIELD IS GOVERNED BY A BOARD OF DIRECTORS, WHICH IS COMPOSED OF INDEPENDENT CIVIC LEADERS WHO SERVE WITHOUT COMPENSATION.REV. RUL. 72-124, 1972-1 C.B. 145, SETS OUT REQUIREMENTS THAT "HOMES FOR THE AGED" MUST MEET TO QUALIFY FOR SECTION 510(C)(3) EXEMPTION. THE INTERNAL REVENUE SERVICE PROVIDED THE FOLLOWING REQUIREMENTS: (1) SATISFACTION OF THE NEED FOR HOUSING THROUGH THE PROVISION OF EMOTIONAL, RECREATIONAL, SOCIAL, RELIGIOUS, AND SIMILAR NEEDS OF AGED PERSONS; (2) SATISFACTION OF THE NEED FOR HEALTH CARE THROUGH PROVISION OF PHYSICAL AND MENTAL HEALTH SERVICES DIRECTLY OR THROUGH CONTINUING ARRANGEMENTS WITH OUTSIDE ORGANIZATIONS; AND (3) SATISFACTION OF THE NEED FOR FINANCIAL SECURITY THROUGH MAINTAINING IN RESIDENCE ANY PERSONS WHO BECOME UNABLE TO PAY THEIR REGULAR CHARGE AND THROUGH PROVIDING SERVICES AT THE LOWEST FEASIBLE COST. DEERFIELD SATISFIES ALL THREE REQUIREMENTS.IN CONJUNCTION WITH ITS COMMITMENT TO MAINTAINING PERSONS IN RESIDENCE WHO BECOME UNABLE TO PAY, DEERFIELD HAS ESTABLISHED A BENEVOLENT ASSISTANCE FUND, WHICH IS USED FOR THE EXCLUSIVE PURPOSE OF PROVIDING ASSISTANCE TO RESIDENTS IN NEED. SUCH RESIDENTS ARE IDENTIFIED BASED ON FINANCIAL INFORMATION OBTAINED FROM THE RESIDENT AND SUBSEQUENT REVIEW AND ANALYSIS. DURING THE YEAR ENDED SEPTEMBER 30, 2019, THE CHARGES FORGONE RELATED TO DEERFIELD'S BENEVOLENT ASSISTANCE PROGRAM WERE APPROXIMATELY $390,000.EXCEPT FOR SOME PRE-EXISTING FEE-FOR-SERVICE CONTRACTS, DEERFIELD OPERATES UNDER THE "LIFE CARE" CONCEPT WHEREBY RESIDENTS ENTER INTO AN AGREEMENT WITH THE ORGANIZATION THAT SPECIFIES THE SERVICES AND FACILITIES TO BE PROVIDED TO THE RESIDENT OVER HIS OR HER REMAINING LIFE. THE AGREEMENT REQUIRES PAYMENT OF A ONE-TIME ENTRANCE FEE AND DEERFIELD'S MONTHLY SERVICE FEES. UNDER THE AGREEMENT, DEERFIELD HAS THE ABILITY TO INCREASE FEES AS DEEMED NECESSARY.IN FURTHERANCE OF ITS CHARITABLE PURPOSE, DEERFIELD PROVIDES MEETING AND OFFICE SPACE FOR THREE NON-PROFIT ORGANIZATIONS ON ITS GROUNDS. THE ANNUAL RENTAL INCOME FOREGONE IS VALUED AT AN ESTIMATED $303,300 DURING THE YEAR ENDED SEPTEMBER 30, 2019.DEERFIELD ALSO PROVIDES NUMEROUS COMMUNITY BENEFITS WHICH INCLUDE CHARITABLE DONATIONS AND DONATED VOLUNTEER SERVICES IN THE AMOUNTS OF $1,230,000 DURING THE YEAR ENDED SEPTEMBER 30, 2019.
Interesting data from their 2020 990 filing
From their filing, the objective of the non-profit is stated as “The mission of deerfield episcopal retirement community, inc. is to operate a nonprofit retirement community guided by christian ideals, to offer a continuum of care to all people, to promote independence and the highest quality of life, and to provide physical and financial security.”.
When talking about its functions, they were outlined as: “Lifetime care in a religious atmosphere”.
- The legally reported state of operation for the non-profit is NC.
- According to the filing, the non-profit's address in 2020 is 1617 HENDERSONVILLE ROAD, ASHEVILLE, NC, 28803.
- The non-profit organization as of 2020 has a total of 447 employees reported on their form.
- Is not a private foundation.
- Expenses are greater than $1,000,000.
- Revenue is greater than $1,000,000.
- Revenue less expenses is $6,690,605.
- The organization has 14 independent voting members.
- The organization was formed in 1955.
- The organization pays $15,328,100 in salary, compensation, and benefits to its employees.
- The organization pays $96,928 in fundraising expenses.
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