Civic Intelligence

Vmrc Foundation Inc

EIN 51-0249313 • 501(c)3 • Harrisonburg, VA

Profile

To assist donors with extending virginia mennonite retirement community's high quality care and services.

Refreshing map…

1501 Virginia AveHarrisonburg, VA 22802

www.vmrc.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

57th percentile

0.29x

Higher debt load relative to assets than 57% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2025

Liabilities / Revenue

90th percentile

2.86x

Higher debt load relative to revenue than 90% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2025

Net Margin

94th percentile

69%

Higher net margin than 94% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2025

Top Officer Pay

62nd percentile

$295,800

Higher top officer pay than 62% of similar nonprofits.

Top officer pay equals 7.3% of source-year revenue.

501(c)3 • $25M-$50M nonprofits • Source year 2025

Asset Growth

51st percentile

5.7%

Faster asset growth than 51% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Annualized from 2024 to 2025

Revenue Growth

92nd percentile

85%

Faster revenue growth than 92% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Annualized from 2024 to 2025

Assets

Up

$40,084,455

Up $2,150,647 (+5.7%) from 2024

Liabilities

Down

$11,562,785

Down $86,181 (-0.7%) from 2024

Net Assets

Up

$28,521,670

Up $2,236,828 (+8.5%) from 2024

Revenue

Up

$4,044,084

Up $1,855,443 (+85%) from 2024

Expenses

Up

$1,271,286

Up $319,177 (+34%) from 2024

Net Income

Up

$2,772,798

Up $1,536,266 (+124%) from 2024

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$60M$40M$20M$0Assets 2011: $11,744,181Liabilities 2011: $3,649,604Net Assets 2011: $8,094,5772011Assets 2012: $11,810,723Liabilities 2012: $2,798,179Net Assets 2012: $9,012,5442012Assets 2013: $12,617,221Liabilities 2013: $4,037,349Net Assets 2013: $8,579,8722013Assets 2014: $18,226,098Liabilities 2014: $7,819,687Net Assets 2014: $10,406,4112014Assets 2015: $23,924,445Liabilities 2015: $12,339,231Net Assets 2015: $11,585,2142015Assets 2016: $25,458,075Liabilities 2016: $14,792,036Net Assets 2016: $10,666,0392016Assets 2017: $27,947,957Liabilities 2017: $15,191,690Net Assets 2017: $12,756,2672017Assets 2018: $30,413,291Liabilities 2018: $14,687,707Net Assets 2018: $15,725,5842018Assets 2019: $27,012,722Liabilities 2019: $10,835,782Net Assets 2019: $16,176,9402019Assets 2020: $25,045,769Liabilities 2020: $11,082,913Net Assets 2020: $13,962,8562020Assets 2021: $34,048,129Liabilities 2021: $11,053,121Net Assets 2021: $22,995,0082021Assets 2022: $35,237,480Liabilities 2022: $10,803,689Net Assets 2022: $24,433,7912022Assets 2023: $32,618,242Liabilities 2023: $10,967,166Net Assets 2023: $21,651,0762023Assets 2024: $37,933,808Liabilities 2024: $11,648,966Net Assets 2024: $26,284,8422024Assets 2025: $40,084,455Liabilities 2025: $11,562,785Net Assets 2025: $28,521,6702025

Highlighted filing

2025

Assets$40,084,455
Liabilities$11,562,785
Net Assets$28,521,670

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$6.0M$4.0M$2.0M$0-$2.0MExpenses 2011: $694,2442011Expenses 2012: $1,152,1452012Expenses 2013: $2,235,5602013Revenue 2014: $2,101,633Expenses 2014: $1,153,444Net Income 2014: $948,1892014Revenue 2015: $3,630,173Expenses 2015: $794,839Net Income 2015: $2,835,3342015Revenue 2016: $732,895Expenses 2016: $830,319Net Income 2016: -$97,4242016Revenue 2017: $1,790,934Expenses 2017: $1,490,032Net Income 2017: $300,9022017Revenue 2018: $3,816,780Expenses 2018: $1,715,880Net Income 2018: $2,100,9002018Revenue 2019: $3,103,710Expenses 2019: $1,876,176Net Income 2019: $1,227,5342019Revenue 2020: $2,228,830Expenses 2020: $1,484,685Net Income 2020: $744,1452020Revenue 2021: $3,301,047Expenses 2021: $847,994Net Income 2021: $2,453,0532021Revenue 2022: $4,060,410Expenses 2022: $878,755Net Income 2022: $3,181,6552022Revenue 2023: $2,016,493Expenses 2023: $1,012,555Net Income 2023: $1,003,9382023Revenue 2024: $2,188,641Expenses 2024: $952,109Net Income 2024: $1,236,5322024Revenue 2025: $4,044,084Expenses 2025: $1,271,286Net Income 2025: $2,772,7982025

Highlighted filing

2025

Revenue$4,044,084
Expenses$1,271,286
Net Income$2,772,798

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$40.1$11.6$28.5$4.04$1.27$2.77
2024Summary only. Only limited summary data is available for this year.$37.9$11.6$26.3$2.19$0.95$1.24
2023Facts available. Structured filing facts are available, but richer extracted sections are limited.$32.6$11.0$21.7$2.02$1.01$1.00
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$35.2$10.8$24.4$4.06$0.88$3.18
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$34.0$11.1$23.0$3.30$0.85$2.45
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$25.0$11.1$14.0$2.23$1.48$0.74
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$27.0$10.8$16.2$3.10$1.88$1.23
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$30.4$14.7$15.7$3.82$1.72$2.10
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$27.9$15.2$12.8$1.79$1.49$0.30
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$25.5$14.8$10.7$0.73$0.83$0.10
2015Detailed filing. Detailed filing data is available for this year.$23.9$12.3$11.6$3.63$0.79$2.84
2014Detailed filing. Detailed filing data is available for this year.$18.2$7.82$10.4$2.10$1.15$0.95
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.6$4.04$8.58$2.24
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.8$2.80$9.01$1.15
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.7$3.65$8.09$0.69
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Apr 1, 2024 to Mar 31, 2025
Signed
Oct 20, 2025
Return Version
2024v5.0
Gross Receipts
$18,018,956
Mission and Program Overview

Mission

To be a community of hope, meaning and growth for people to age well and live fully.

We are a christ-centered community cultivating compassion, integrity and respect for aging well and living fully.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$37,773,074$39,953,289▲ $2,180,215
Pledges and Grants Receivable$160,734$131,166▼ $29,568
Total Assets$37,933,808$40,084,455▲ $2,150,647
Liabilities
Other Liabilities$11,632,557$11,531,616▼ $100,941
Accounts Payable and Accrued Expenses$16,409$31,169▲ $14,760
Total Liabilities$11,648,966$11,562,785▼ $86,181
Net Assets / Fund Balance
Net Assets With Donor Restrictions$13,898,442$14,689,949▲ $791,507
Net Assets Without Donor Restrictions$12,386,400$13,831,721▲ $1,445,321
Total Net Assets Fund Balance$26,284,842$28,521,670▲ $2,236,828
Total Liabilities and Net Assets / Fund Balance$37,933,808$40,084,455▲ $2,150,647

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2024$15,444,177$215,024▲ $880,959-$15,833,140
2023$13,589,279$263,006▲ $1,893,141-$15,444,177
2022$14,570,374$465,172▼ $1,060,485-$13,589,279
2021$13,779,272$657,652▲ $479,265-$14,570,374
2020$10,083,117$360,479▲ $3,651,600-$13,779,272
Compensation and Service Providers

Board Members and Trustees

NameTitle
Kathy ArmentroutChair
Hugh WestfallVice Chair
Gerald HersheyBoard Member
Hugh WestfallBoard Member
John KnepperBoard Member
Laura EvansBoard Member
Merv WebbBoard Member
Jake BellCEO
Mike PiperCFO
Alden HostetterSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$1,343,176
Program Service Revenue
$0
Investment Income
$2,716,185
Other Revenue
$-15,277
All Other Contributions
$1,271,584
Change in Net Assets
$2,772,798

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,044,084
Revenue Not Reported on Form 990
$-535,970
Total Revenue per Audited Statements
$3,508,114
Total Revenue per Form 990
$4,044,084
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$858,430
Total Fundraising Expense$401,035
Other Expenses$216,605
Salaries, Compensation, and Employee Benefits$196,251
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$858,430--$858,430
Other Salaries and Wages--$169,678$169,678
Fees for Services Management--$114,918$114,918
Advertising--$68,397$68,397
Office Expenses--$16,797$16,797
Payroll Taxes--$12,245$12,245
Other Employee Benefits--$8,379$8,379
Fees for Services Accounting-$7,500-$7,500
Pension Plan Contributions--$5,949$5,949
Travel--$3,386$3,386
Occupancy-$2,700-$2,700
Insurance-$1,621-$1,621
Conferences and Meetings--$1,286$1,286
Total Functional Expenses$858,430$11,821$401,035$1,271,286

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,271,286
Total Expenses per Audited Statements$1,271,286
Total Expenses per Form 990$1,271,286
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Virginia Mennonite Home IncHarrisonburg, VA501c3Cover Unreimb. Exp.$480,579
Vmrc IncHarrisonburg, VA501c3Unreimbursed Expense$136,468
Eastern Mennonite UniversityHarrisonburg, VA-Expense Reimb.$67,806
Habitat for HumanityBridgewater, VA501c3Housing$53,993
Park Village IncHarrisonburg, VA501c3Subsidize Nutrition$24,916
Virginia Mennonite Home IncHarrisonburg, VA501c3Chaplain Expenses$21,118
Virginia Mennonite Home IncHarrisonburg, VA501c3Purchase Equipment$19,548
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$27,517
Fundraising Gross Income$12,240
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Golf Tournament$83,832$12,240$27,517$-15,277
Total Events$83,832$12,240$27,517$-15,277
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due From Vmrc Foundation$11,569,854
Due to Vmrc Foundation$-38,238
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Page 6, Part VI, Line 3

The organization delegates management duties to virginia mennonite retirement community inc.

Form 990, Page 6, Part VI, Line 11B

The 990 was supplied to all board members prior to filing, and the board finance committee as a group reviewed the 990.

Form 990, Page 6, Part VI, Line 12C

Board members must sign an annual conflict of interest disclosure. Board orientation includes education concerning the conflict of interest policy. Management and staff receive education at new employee orientation and during annual education day, which includes the corporate compliance and ethics program. This program includes the policy on conflict of interest.

Form 990, Page 6, Part VI, Line 15A

Survey data is reviewed annualy from the compensation study of similar not-for-profit ccrc's in the leading age, along with a survey of the local not-for-profit competitors. Ceo compensation is determined by the board and finance committee.

Form 990, Page 6, Part VI, Line 15B

Other employee compensation is determined by the organization's management team.

Form 990, Page 6, Part VI, Line 19

Governing documents: available onsite and in bond documents. Conflict of interest policy: available onsite. Financial statements: available on ziegler research website and in vmrc's published annual report available onsite.

Filing and Contact Details

Filer

Filer Name
Vmrc Foundation Inc
EIN
51-0249313
Phone
5405643400
Address
1501 VIRGINIA AVE, HARRISONBURG, VA 22802

Signing Officer

Name
Mike Piper
Title
CFO
Phone
0054056434
Signed
2025-10-20
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jake Bell
Formed
1980
Legal Domicile
Va
Voting Board Members
9
Independent Board Members
9
Employees
3
Volunteers
70

Preparer

Firm
Beachy Arehart Pllc
Address
209 N HIGH ST, HARRISONBURG, VA 22802
Preparer
R Scott Beachy
Phone
5404332488
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 2, Part V, Line 4

The organization maintains endowment funds for the following purposes: covering the costs of unreimbursed care; funding memory care programs; staff training; life enrichment events; medical nutritional programs.

Schedule D, Page 3, Part X

The organization is exempt from federal income tax under section 501(c)(3) of the internal revenue code. However, income from certain activities not directly related to the organization's tax-exempt purpose is subject to taxation as unrelated business income. The organization believes that it has appropriate support for any tax positions taken, and as such, does not have any uncertain tax positions that are material to the financial statements. In addition, the organization qualifies for the charitable contribution deduction under section 170(b)(1)(a) and has been classified as an organization other than a private foundation under section 509(a)(2).

Raw XML AppendixShowing 400 of 586 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE FROM VMRC FOUNDATION
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1DUE TO VMRC FOUNDATION
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IRS990ScheduleD/RevenueNotReportedAmt0-535970
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION MAINTAINS ENDOWMENT FUNDS FOR THE FOLLOWING PURPOSES: COVERING THE COSTS OF UNREIMBURSED CARE; FUNDING MEMORY CARE PROGRAMS; STAFF TRAINING; LIFE ENRICHMENT EVENTS; MEDICAL NUTRITIONAL PROGRAMS.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. HOWEVER, INCOME FROM CERTAIN ACTIVITIES NOT DIRECTLY RELATED TO THE ORGANIZATION'S TAX-EXEMPT PURPOSE IS SUBJECT TO TAXATION AS UNRELATED BUSINESS INCOME. THE ORGANIZATION BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN, AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. IN ADDITION, THE ORGANIZATION QUALIFIES FOR THE CHARITABLE CONTRIBUTION DEDUCTION UNDER SECTION 170(B)(1)(A) AND HAS BEEN CLASSIFIED AS AN ORGANIZATION OTHER THAN A PRIVATE FOUNDATION UNDER SECTION 509(A)(2).
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 2, PART V, LINE 4
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0SUBSIDIZE NUTRITION
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1CHAPLAIN EXPENSES
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt2PURCHASE EQUIPMENT
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt3COVER UNREIMB. EXP.
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt4UNREIMBURSED EXPENSE
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt5HOUSING
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt6EXPENSE REIMB.
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0PARK VILLAGE INC
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1VIRGINIA MENNONITE HOME INC
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt2VIRGINIA MENNONITE HOME INC
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt3VIRGINIA MENNONITE HOME INC
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt4VMRC INC
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt5HABITAT FOR HUMANITY
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt6EASTERN MENNONITE UNIVERSITY
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