Civic Intelligence

Ccrc Inc

990 • Fiscal year 2018 • EIN 54-1929580

Jan 01, 2018 to Dec 31, 2018 • Filed on Nov 08, 2019

1920 Atherholt RoadLynchburg, VA 24501

(434) 200-4712

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

96th percentile

1.17x

Higher debt load relative to assets than 96% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2018

Liabilities / Revenue

94th percentile

5.40x

Higher debt load relative to revenue than 94% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2018

Net Margin

54th percentile

4.1%

Higher net margin than 54% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2018

Top Officer Pay

94th percentile

$705,659

Higher top officer pay than 94% of similar nonprofits.

Top officer pay equals 15.1% of source-year revenue.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2018

Asset Growth

33rd percentile

-1.9%

Faster asset growth than 33% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2017 to 2018

Revenue Growth

14th percentile

-17%

Faster revenue growth than 14% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2017 to 2018

Assets

Down

$21,611,869

Down $411,556 (-1.9%) from 2017

Net Assets

Down

-$3,684,137

Down $447,346 (-14%) from 2017

Liabilities

Up

$25,296,006

Up $35,790 (+0.1%) from 2017

Revenue

Down

$4,686,283

Down $976,866 (-17%) from 2017

Expenses

Up

$4,492,979

Up $20,135 (+0.5%) from 2017

Net Income

Down

$193,304

Down $997,001 (-84%) from 2017

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$30M$20M$10M$0-$10MAssets 2008: $19,928,975Liabilities 2008: $22,662,316Net Assets 2008: -$2,733,3412008Assets 2010: $19,092,842Liabilities 2010: $20,730,433Net Assets 2010: -$1,637,5912010Assets 2011: $18,611,390Liabilities 2011: $20,181,721Net Assets 2011: -$1,570,3312011Assets 2012: $17,806,678Liabilities 2012: $18,808,359Net Assets 2012: -$1,001,6812012Assets 2013: $18,594,431Liabilities 2013: $23,532,216Net Assets 2013: -$4,937,7852013Assets 2014: $18,092,799Liabilities 2014: $23,073,790Net Assets 2014: -$4,980,9912014Assets 2015: $18,831,795Liabilities 2015: $23,740,164Net Assets 2015: -$4,908,3692015Assets 2016: $20,374,862Liabilities 2016: $25,051,667Net Assets 2016: -$4,676,8052016Assets 2017: $22,023,425Liabilities 2017: $25,260,216Net Assets 2017: -$3,236,7912017Assets 2018: $21,611,869Liabilities 2018: $25,296,006Net Assets 2018: -$3,684,1372018Assets 2019: $24,220,576Liabilities 2019: $25,050,633Net Assets 2019: -$830,0572019Assets 2020: $26,405,664Liabilities 2020: $25,938,399Net Assets 2020: $467,2652020Assets 2021: $3,215,074Liabilities 2021: $3,215,074Net Assets 2021: $02021Assets 2022: $0Liabilities 2022: $0Net Assets 2022: $02022

Highlighted filing

2018

Assets$21,611,869
Liabilities$25,296,006
Net Assets-$3,684,137

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$20M$15M$10M$5.0M$0-$5.0MExpenses 2008: $3,778,8362008Expenses 2010: $3,831,4362010Expenses 2011: $3,822,2782011Revenue 2012: $4,584,129Expenses 2012: $3,927,747Net Income 2012: $656,3822012Revenue 2013: $4,452,945Expenses 2013: $3,912,161Net Income 2013: $540,7842013Revenue 2014: $4,355,997Expenses 2014: $4,159,790Net Income 2014: $196,2072014Revenue 2015: $4,141,115Expenses 2015: $4,128,511Net Income 2015: $12,6042015Revenue 2016: $3,828,417Expenses 2016: $4,208,611Net Income 2016: -$380,1942016Revenue 2017: $5,663,149Expenses 2017: $4,472,844Net Income 2017: $1,190,3052017Revenue 2018: $4,686,283Expenses 2018: $4,492,979Net Income 2018: $193,3042018Revenue 2019: $4,826,721Expenses 2019: $4,268,346Net Income 2019: $558,3752019Revenue 2020: $7,914,227Expenses 2020: $4,151,252Net Income 2020: $3,762,9752020Revenue 2021: $16,845,735Expenses 2021: $2,928,514Net Income 2021: $13,917,2212021Revenue 2022: $0Expenses 2022: $0Net Income 2022: $02022

Highlighted filing

2018

Revenue$4,686,283
Expenses$4,492,979
Net Income$193,304
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Nov 8, 2019
Return Version
2018v3.1
Gross Receipts
$5,325,845
Mission and Program Overview

Mission

Ccrc, inc. (the summit) is a senior living community providing an environment for each resident to be engaged in life.

Continuing care retirement center.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$10,793,582$11,149,807▲ $356,225
Land, Buildings, and Equipment, Net$8,901,439$8,104,127▼ $797,312
Cap Stk Tr Prin Current Funds$4,400,000$4,400,000→ $0
Cash and Non-Interest-Bearing Accounts$2,028,064$1,944,126▼ $83,938
Accounts Receivable$10,471$117,510▲ $107,039
Prepaid Expenses and Deferred Charges$108,868$114,375▲ $5,507
Savings and Temporary Cash Investments$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Rtn Earn Endowment Incm Other Fnds$-7,636,791$-8,084,137▼ $447,346
Total Assets$22,023,425$21,611,869▼ $411,556
Other Assets Total$181,001$181,924▲ $923
Liabilities
Deferred Revenue$16,198,134$13,845,032▼ $2,353,102
Other Liabilities$8,484,057$8,467,369▼ $16,688
Accounts Payable and Accrued Expenses$578,025$2,983,605▲ $2,405,580
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$25,260,216$25,296,006▲ $35,790
Net Assets / Fund Balance
Total Net Assets Fund Balance$-3,236,791$-3,684,137▼ $447,346
Total Liabilities and Net Assets / Fund Balance$22,023,425$21,611,869▼ $411,556

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$6,276,682$13,525,885$19,802,567
Leasehold Improvements$1,001,855$2,318,908$3,320,763
Equipment$370,155$1,081,900$1,452,055
Land$352,816-$352,816
Other Land Buildings$102,619$0$102,619
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Gina MeadowsDirector of CcrcFT$131,274$9,183$140,457

Board Members and Trustees

NameTitle
David AdamsPresident & Chairman
Rev Stephanie MclemoreVice Chairman
Gary FosterDirector
James PoatsDirector
Joseph ArchambeaultDirector
R Sackett WoodsDirector
Rev Coretha LoughridgeDirector
Tracey JenningsDirector
David GoughSecretary

Highest Paid Contractors

ContractorServicesLocationCompensation
Meriwether-godsey INCCatering Services4944 OLD BOONSBORO ROAD, Lynchburg, VA 24503$465,671
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$3,438,406
Investment Income
$47,281
Other Revenue
$1,200,596
Change in Net Assets
$193,304
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,489,427
Salaries, Compensation, and Employee Benefits$1,003,552
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$1,103,585$16,692-$1,120,277
Fees for Services Other$831,505$155,597-$987,102
Other Salaries and Wages$475,189$184,879$0$660,068
Occupancy$604,896$9,126-$614,022
Office Expenses$382,574$41,581-$424,155
Other Employee Benefits$114,696$88,331-$203,027
Fees for Services Accounting-$149,655-$149,655
Current Officers, Directors, Trustees, and Key Employees-$140,457-$140,457
Advertising-$64,784-$64,784
Fees for Service Investment Mgmnt Fees-$62,905-$62,905
Insurance-$58,260-$58,260
Conferences and Meetings$168$5,980-$6,148
Fees for Services Legal-$1,196-$1,196
Travel$796$127-$923
Total Functional Expenses$3,513,409$979,570$0$4,492,979
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Note Payable to Centra Health$8,180,710
Lake Maintenance Liability$181,924
Due to Related Parties$104,735
Governance and Compliance

Governance Checklist

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

Governance Explanations

Form 990, Part VI, Section A, Line 4

Ccrc, inc. Added the below listed item to its amended and restated bylaws during 2018. Article vii executive, other committees and ex-officio member: 9. A resident may be nominated by the summit residents council, replicating the councils terms of membership as set forth in council bylaws, to serve as a non-voting ex-officio member of the ccrc, inc. Board of directors.

Form 990, Part VI, Section A, Line 6

The organization is a not-for-profit, stock company. As of the end of 2018, there were 363 shares of common stock and zero shares of preferred stock outstanding. Centra health, inc. Owns 91% of the common stock. The remainder is owned by the retirement center of the christian church in virginia, inc.

Form 990, Part VI, Section A, Line 7A

Centra health, inc., as the majority owner of the ccrc, inc. Stock, has the right to appoint the majority of the ccrc, inc. Board.

Form 990, Part VI, Section A, Line 7B

Centra health inc., as the majority owner of the ccrc, inc. Stock, has the right to review and approve decisions made by the governing body of ccrc, inc.

Form 990, Part VI, Section B, Line 11B

The return was prepared by an independent accountant with assistance and oversight by management. Copies of the form 990 have been provided to all voting members of the board of directors, and any questions raised by the board of directors have been addressed.

Form 990, Part VI, Section B, Line 12C

All centra health, inc./ccrc, inc. Officers and directors must complete a possible conflict of interest questionnaire on an annual basis, certifying that neither they nor any of their immediate family members have engaged in any activities that could lead to a potential conflict of interest. Additionally, all officers and directors must agree to promptly report any potential conflicts of interest that arise during the year to the president or chairman of the board of directors.

Form 990, Part VI, Section B, Line 15A and 15B

Form 990, part vi, lines 15a and 15b were answered as "no", however, under a management agreement with centra health, inc., a related party and 91% shareholder of ccrc, inc., the organization's executive director's compensation is established in accordance with centra health's executive compensation practices which include the use of a compensation committee, independent compensation consultant(s), and compensation study or survey.

Form 990, Part VI, Section C, Line 18

Photocopies of the organization's recent filings of the form 990 are available upon request at the organization's administrative office. Additionally, filings of the form 990 can also be found online at www.guidestar.org.

Form 990, Part VI, Section C, Line 19

Photocopies of the organization's governing documents, financial statements, and conflict of interest policy are available upon request at the organization's administrative office

Filing and Contact Details

Filer

Filer Name
Ccrc Inc
EIN
54-1929580
In Care Of
% TIM FRITZ
Phone
4342004712
Address
1920 Atherholt Road, Lynchburg, VA 24501

Signing Officer

Name
Mrs Tracey Jennings
Title
President & Chairman
Phone
4342004712
Signed
2019-11-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mrs Tracey Jennings
Formed
1998
Legal Domicile
Va
Voting Board Members
9
Independent Board Members
5
Employees
32
Volunteers
55

Preparer

Firm
Bdo USA Llp
Address
8401 GREENSBORO DRIVE 800, MCLEAN, VA 22102
Preparer
Marc Berger
Phone
7038930600
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 4A

Also included on campus are the summit assisted living and the summit health and rehabilitation, both wholly owned and operated by centra health, inc. As such, the summit provides the facilities, services, amenities and programs to support an active lifestyle for residents. The summit hosts several support groups that benefit both residents and members from the larger community, including the central virginia alzheimer's support group, and the central virginia parkinson's support group. The summit hosts a quarterly event coordinated by the lynchburg regional business alliance, called "business at breakfast" open to area business professionals. The summit hosts educational events in cooperation with area nonprofit agencies such as aarp, the wyndhurst association, and the interfaith outreach agency. Several of the summit activity programs are open to both residents and nonresidents, including yoga, tai chi and line dancing. The summit is host to the area bird watching association and is a designated wildlife habitat by the national wildlife foundation. The summit hosts a weekly worship service for residents, inviting area clergy to provide leadership. Staff provide volunteer support for each of the above organizations and others including the wyndhurst association, the youth philanthropy committee of the greater lynchburg community trust, vanha, leadingage, the lynchburg regional business alliance, and others. Additionally, the summit provides in-kind services to events sponsored by the wyndhurst association.

Form 990, Part X, Line 20

In 2017 centra health, inc. Issued a refunding bond to pay off ccrc's 2012 bond which is reflected on centra health, inc.'s form 990 balance sheet and schedule k. It is reflected on ccrc's form 990, part x, line 25 - other liabilities as a note payable to centra health, inc.

Form 990 Part IX Line 11G

Description:catering services total fees:729773

Form 990 Part IX Line 11G

Description:other marketing total fees:140509

Form 990 Part IX Line 11G

Description:healthcare benefits total fees:48174

Form 990 Part IX Line 11G

Description:facilities maintenance service total fees:28450

Form 990 Part IX Line 11G

Description:campus action plan, et al. Total fees:15292

Form 990 Part IX Line 11G

Description:summer benevolent fund total fees:13000

Form 990 Part IX Line 11G

Description:resident services total fees:11904

Financial Statement Notes

Schedule D, Part X, Line 2

According to centra health, inc.'s consolidated 2018 audit report... "centra health, inc., ccrc, inc., centra health foundation, southside community hospital, inc., and bedford memorial hospital are exempt from income tax under section 501 (a) of the internal revenue code. Accordingly, no income taxes have been provided for these entities in the accompanying consolidated financial statements except for taxes related to certain unrelated business income engaged in by centra." "centra has determined that it does not have any material unrecognized tax benefits or obligations as of december 31, 2018. Centra believes they are no longer subject to income tax examinations for years prior to december 31, 2015."

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IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
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IRS990/PrincipalOfficerNm0MRS TRACEY JENNINGS
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IRS990/ReceivablesFromOfficersEtcGrp/BOYAmt00
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IRS990ScheduleD/EquipmentGrp/BookValueAmt0370155
IRS990ScheduleD/EquipmentGrp/DepreciationAmt01081900
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt01452055
IRS990ScheduleD/FederalIncomeTaxLiabilityAmt00
IRS990ScheduleD/FootnoteTextInd0X

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.00$0.00$0.00
2021Detailed filing. Detailed filing data is available for this year.$3.22$3.22$0.00$16.8$2.93$13.9
2020Detailed filing. Detailed filing data is available for this year.$26.4$25.9$0.47$7.91$4.15$3.76
2019Detailed filing. Detailed filing data is available for this year.$24.2$25.1$0.83$4.83$4.27$0.56
2018Detailed filing. Detailed filing data is available for this year.$21.6$25.3$3.68$4.69$4.49$0.19
2017Summary only. Only limited summary data is available for this year.$22.0$25.3$3.24$5.66$4.47$1.19
2016Summary only. Only limited summary data is available for this year.$20.4$25.1$4.68$3.83$4.21$0.38
2015Summary only. Only limited summary data is available for this year.$18.8$23.7$4.91$4.14$4.13$0.01
2014Summary only. Only limited summary data is available for this year.$18.1$23.1$4.98$4.36$4.16$0.20
2013Summary only. Only limited summary data is available for this year.$18.6$23.5$4.94$4.45$3.91$0.54
2012Summary only. Only limited summary data is available for this year.$17.8$18.8$1.00$4.58$3.93$0.66
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$18.6$20.2$1.57$3.82
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$19.1$20.7$1.64$3.83
2008Facts available. Structured filing facts are available, but richer extracted sections are limited.$19.9$22.7$2.73$3.78