Civic Intelligence

Ridge Creek at Heritage

990 • Fiscal year 2021 • EIN 84-3276264

Jul 01, 2020 to Jun 30, 2021 • Filed on Apr 25, 2022

2400 Portage StreetKalamazoo, MI 49001

(269) 382-1255

Siviq Scores

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

Liabilities / Assets

94th percentile

1.01x

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

2021 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2021

Liabilities / Revenue

100th percentile

173582.52x

Higher debt load relative to revenue than 100% of similar nonprofits.

2021 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2021

Net Margin

1st percentile

-182042%

Higher net margin than 1% of similar nonprofits.

2021 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2021

Top Officer Pay

39th percentile

$277,137

Higher top officer pay than 39% of similar nonprofits.

Top officer pay equals 92999.0% of source-year revenue.

2021 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2021

Asset Growth

Score unavailable

No value available

A valid growth rate could not be computed from the available filing history.

Annualized from 2020 to 2021

Revenue Growth

Score unavailable

No value available

A valid growth rate could not be computed from the available filing history.

Annualized from 2020 to 2021

Assets

Up

$51,185,104

Up $51,185,104 from 2020

Net Assets

Down

-$542,486

Down $542,486 from 2020

Liabilities

Up

$51,727,590

Up $51,727,590 from 2020

Revenue

Up

$298

Up $298 from 2020

Expenses

Up

$542,784

Up $542,784 from 2020

Net Income

Down

-$542,486

Down $542,486 from 2020

Historical Trend

Balance Sheet Trend

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

$60M$40M$20M$0-$20MAssets 2020: $0Liabilities 2020: $0Net Assets 2020: $02020Assets 2021: $51,185,104Liabilities 2021: $51,727,590Net Assets 2021: -$542,4862021Assets 2022: $51,907,924Liabilities 2022: $53,924,789Net Assets 2022: -$2,016,8652022Assets 2023: $47,277,144Liabilities 2023: $51,699,853Net Assets 2023: -$4,422,7092023Assets 2024: $45,934,638Liabilities 2024: $51,764,952Net Assets 2024: -$5,830,3142024Assets 2025: $44,626,700Liabilities 2025: $51,796,203Net Assets 2025: -$7,169,5032025

Highlighted filing

2021

Assets$51,185,104
Liabilities$51,727,590
Net Assets-$542,486

Operations Trend

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

$10M$5.0M$0-$5.0MRevenue 2020: $0Expenses 2020: $0Net Income 2020: $02020Revenue 2021: $298Expenses 2021: $542,784Net Income 2021: -$542,4862021Revenue 2022: $19,698Expenses 2022: $1,494,077Net Income 2022: -$1,474,3792022Revenue 2023: $2,832,650Expenses 2023: $5,238,494Net Income 2023: -$2,405,8442023Revenue 2024: $4,636,470Expenses 2024: $6,178,166Net Income 2024: -$1,541,6962024Revenue 2025: $4,864,762Expenses 2025: $6,391,282Net Income 2025: -$1,526,5202025

Highlighted filing

2021

Revenue$298
Expenses$542,784
Net Income-$542,486
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Apr 25, 2022
Return Version
2020v4.0
Gross Receipts
$298
Mission and Program Overview

Mission

We will be the premier senior living provider that celebrates the whole person while embracing families and partnering with the community

Provide housing and healthcare to residents in an independent living apartment facility.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$34,512$15,247,578▲ $15,213,066
Prepaid Expenses and Deferred Charges-$67,224-
Total Assets$0$51,185,104▲ $51,185,104
Other Assets Total$-34,512$35,870,302▲ $35,904,814
Liabilities
Tax Exempt Bond Liabilities-$49,558,444-
Other Liabilities-$2,044,968-
Accounts Payable and Accrued Expenses-$124,178-
Total Liabilities$0$51,727,590▲ $51,727,590
Net Assets / Fund Balance
Net Assets With Donor Restrictions$0$0→ $0
Net Assets Without Donor Restrictions$0$-542,486▼ $542,486
Total Net Assets Fund Balance$0$-542,486▼ $542,486
Total Liabilities and Net Assets / Fund Balance$0$51,185,104▲ $51,185,104

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$15,213,066$0$15,213,066
Land$34,512-$34,512
Buildings$0$0$0
Equipment$0$0$0
Leasehold Improvements$0$0$0
Other Assets Org$-34,512--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2020$1,711,896$21,419▲ $495,464$59,854$2,168,925
2019$1,663,252$73,060▲ $32,615$57,031$1,711,896
2018$0$0→ $0$0$0
2017$0$0→ $0$0$0
2016$0$0→ $0$0$0
Compensation and Service Providers

Employees

NameTitleFull / Part TimeOtherTotal
Matthew ShankleDirector of Marketing & SalesPT$123,746$123,746
Kimberly LoftusVice President, Fund Development-$120,745$120,745
Roxanne FletcherDirector of It-$120,548$120,548
Amy BarnesController-$111,582$111,582

Board Members and Trustees

NameTitle
Rex BellBoard Chair
JOSEPH A D'AMBROSIOBoard Vice Chair
J Patrick DysonBoard Secretary
William MillardBoard Treasurer
Bob MillerDirector
Denise NeelyDirector
James EscamillaDirector
Laura EllerDirector
Marina HoughtonDirector
R Cory SpauldingDirector
Richard NagleDirector
Ron CislerDirector
Sydney EllisDirector
Jay PrinceCEO
Rachel OlmstedCFO
Paul BarberCOO
Donald KneepkensWyndham Resident Representative
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$298
Other Revenue
$0
Change in Net Assets
$-542,486

Audited Revenue Reconciliation

Revenue per Audited Statements
$298
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Other Revenue Adjustments
$0
Total Revenue per Audited Statements
$298
Total Revenue per Form 990
$298
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$542,784
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Advertising-$475,209-$475,209
Interest$48,653--$48,653
Occupancy$14,610--$14,610
Information Technology$4,312--$4,312
Total Functional Expenses$67,575$475,209$0$542,784

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$542,784
Total Expenses per Audited Statements$542,784
Total Expenses per Form 990$542,784
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Other Expense Adjustments$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Payroll Liabilities$2,116,329
Escrow Deposit$1,114,975
Personalizations for Revel Creek$49,992
Priority Club Deposits$3,000
Bond Issuance Cost$-1,239,328
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
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

Their sole member is heritage community of kalamazoo

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

Members of the board of directors elect/appoint new members for a three year term at the annual meeting

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

A copy of the 990 was reviewed by the cfo prior to filing the return

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

The board members are required to sign a conflict of interest form each year acknowledging receipt of the conflict of interest policy and disclosure of any potential conflicts. Board members having a conflict of interest shall not participate in making a business decision to commit the organization's resources. Any board member having a conflict must also abstain from voting on relevant subjects which is reflected in the board minutes. The conflict of interest policy is reviewed by the board of directors annually.

Form 990, Part VI, Section B, Line 15

A formal review process and comparability data provided by human resources

Form 990, Part VI, Section C, Line 19

The information is provided to the public upon request.

Filing and Contact Details

Filer

Filer Name
Revel Creek
EIN
84-3276264
Phone
2693821255
Address
2400 PORTAGE STREET, KALAMAZOO, MI 49001

Signing Officer

Name
Rachel Olmsted
Title
Chief Financial Officer
Phone
2693821255
Signed
2022-04-25

Organization Details

Principal Officer
Rachel Olmsted
Formed
2019
Legal Domicile
Mi
Voting Board Members
14
Independent Board Members
14
Employees
0
Volunteers
0
Supplemental Narrative

Financial Statement Notes

Schedule D, Part V, Line 4

Endowment funds are to be used to support the foundation as indicated by the donor

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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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IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
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IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GainOrLossGrp/OtherAmt00
IRS990/GainOrLossGrp/SecuritiesAmt00
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt014
IRS990/GrantAmt00
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt0298
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd00
IRS990/IncmFromInvestBondProceedsGrp/ExclusionAmt00
IRS990/IncmFromInvestBondProceedsGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/IncmFromInvestBondProceedsGrp/TotalRevenueColumnAmt00
IRS990/IncmFromInvestBondProceedsGrp/UnrelatedBusinessRevenueAmt00
IRS990/IndependentAuditFinclStmtInd00
IRS990/IndependentVotingMemberCnt014
IRS990/IndivRcvdGreaterThan100KCnt07
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InformationTechnologyGrp/ProgramServicesAmt04312
IRS990/InformationTechnologyGrp/TotalAmt04312
IRS990/InterestGrp/ProgramServicesAmt048653
IRS990/InterestGrp/TotalAmt048653
IRS990/InvestmentExpenseAmt00
IRS990/InvestmentIncomeGrp/ExclusionAmt00
IRS990/InvestmentIncomeGrp/RelatedOrExemptFuncIncomeAmt0298
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0298
IRS990/InvestmentIncomeGrp/UnrelatedBusinessRevenueAmt00
IRS990/InvestmentInJointVentureInd00
IRS990/IRPDocumentCnt00
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt00
IRS990/LandBldgEquipBasisNetGrp/BOYAmt034512
IRS990/LandBldgEquipBasisNetGrp/EOYAmt015247578
IRS990/LandBldgEquipCostOrOtherBssAmt015247578
IRS990/LegalDomicileStateCd0MI
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd01
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0WE WILL BE THE PREMIER SENIOR LIVING PROVIDER THAT CELEBRATES THE WHOLE PERSON WHILE EMBRACING FAMILIES AND PARTNERING WITH THE COMMUNITY
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt00
IRS990/NetAssetsOrFundBalancesEOYAmt0-542486
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NetUnrlzdGainsLossesInvstAmt00
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt00
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt0-542486
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ProgramServicesAmt014610
IRS990/OccupancyGrp/TotalAmt014610
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt0-34512
IRS990/OtherAssetsTotalGrp/EOYAmt035870302
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherLiabilitiesGrp/EOYAmt02044968
IRS990/OtherRevenueTotalAmt00
IRS990/OtherWebsiteInd0X
IRS990/PartialLiquidationInd00
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt067224
IRS990/PrincipalOfficerNm0RACHEL OLMSTED
IRS990/PriorPeriodAdjustmentsAmt00
IRS990/ProfessionalFundraisingInd00
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
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IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
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IRS990/PYRevenuesLessExpensesAmt00
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IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt00
IRS990/ReconcilationRevenueExpnssAmt0-542486
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/RentalIncomeOrLossGrp/PersonalAmt00
IRS990/RentalIncomeOrLossGrp/RealAmt00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
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IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0278
IRS990/RoyaltiesRevenueGrp/ExclusionAmt00
IRS990/RoyaltiesRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/RoyaltiesRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990ScheduleA/First5Years509Ind0X
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt0298
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt00
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt0298
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt00
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt00
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt0298
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt00
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt00
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt00
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt00
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt0298
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportTotal509Amt00
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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt00
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt00
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt00
IRS990ScheduleA/Total509Grp/TotalAmt00
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0298
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt00
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt00
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt00
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt00
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt0298
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BoardDesignatedBalanceEOYPct00.844
IRS990ScheduleD/BuildingsGrp/BookValueAmt00
IRS990ScheduleD/BuildingsGrp/DepreciationAmt00
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/CYEndwmtFundGrp/AdministrativeExpensesAmt00
IRS990ScheduleD/CYEndwmtFundGrp/BeginningYearBalanceAmt01711896
IRS990ScheduleD/CYEndwmtFundGrp/ContributionsAmt021419
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt02168925
IRS990ScheduleD/CYEndwmtFundGrp/GrantsOrScholarshipsAmt00
IRS990ScheduleD/CYEndwmtFundGrp/InvestmentEarningsOrLossesAmt0495464
IRS990ScheduleD/CYEndwmtFundGrp/OtherExpendituresAmt059854
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/AdministrativeExpensesAmt00
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt01663252
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/ContributionsAmt073060
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt01711896
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/GrantsOrScholarshipsAmt00
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt032615
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/OtherExpendituresAmt057031
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/AdministrativeExpensesAmt00
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/BeginningYearBalanceAmt00
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/ContributionsAmt00
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt00
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/GrantsOrScholarshipsAmt00
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt00
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/OtherExpendituresAmt00
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/AdministrativeExpensesAmt00
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/BeginningYearBalanceAmt00
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/ContributionsAmt00
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt00

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