River Terrace Estates Inc in Bluffton, Indiana (IN)

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River Terrace Estates Inc
Employer Identification Number (EIN)237204803
Name of OrganizationRiver Terrace Estates Inc
Address400 Caylor Blvd, Bluffton, IN 46714-8805
ActivitiesHospital pharmacy, parking facility, food services, etc.
SubsectionCharitable Organization
Ruling Date05/2001
DeductibilityContributions are deductible
FoundationOrganization that normally receives no more than one third of its support from gross investment income and unrelated business income and at the same time more than one third of its support from contributions, fees, and gross receipts related to exempt purposes
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2011
Assets$10,000,000 to $49,999,999
Income$5,000,000 to $9,999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$14,928,098
Amount of Income$5,566,218
Form 990 Revenue Amount$5,545,484
National Taxonomy of Exempt Entities (NTEE)Housing, Shelter: Senior Citizens' Housing/Retirement Communities


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Amount of income in 2011: $5,566,218
This organization: 

 $5,566,218
Other organizations performing similar types of work: 

 $283,054

Assets in 2011: $14,928,098
This organization: 

 $14,928,098
Other organizations performing similar types of work: 

 $2,059,450

Expenses in 2002: $1,418,706
River Terrace Estates Inc: 

 $1,418,706
Other organizations performing similar types of work: 

 $2,054,369

Income to expenses ratio in 2002: 0.5
This organization: 

 0.5
Other organizations performing similar types of work: 

 0.9

Expenses allocated to program services in 2002: 47.5%
This organization: 

 47.5%
Other organizations performing similar types of work: 

 88.6%

Grants share in income in 2002: 0.4%
River Terrace Estates Inc: 

 0.4%
Other organizations performing similar types of work: 

 0.2%

Financial snapshot ($)

Revenue for 2002

Assets at end of 2002

Expenses for 2002

Functional Expenses for 2002 ($)

Income-Producing Activities for 2002

Revenue, Expenses, and Changes in Net Assets or Fund Balances
20012002
Total revenue$1,061,513$719,858
Contributions, gifts, grants, and similar amounts received$0$2,800
Contributions to donor advised funds
Direct public support$0$2,800
Indirect public support$0$0
Government contributions (grants)$0$0
Program service revenue including government fees and contracts$0$0
Membership dues and assessments$0$0
Interest on savings and temporary cash investments$0$0
Dividends and interest from securities$1,051,304$434,966
Net rental income or (loss)$12,000$18,000
Gross rents$12,000$18,000
Less: rental expenses$0$0
Other investment income$0$0
Gain or (loss) from sales of assets other than inventory$-1,791$0
Gross amount from sales of assets other than inventory$0$0
Less: cost or other basis and sales expenses$1,791$0
Net income or (loss) from special events and activities$0$0
Gross revenue$0$0
Less: direct expenses other than fundraising expenses$0$0
Gross profit or (loss) from sales of inventory$0$0
Gross sales of inventory, less returns and allowances$0$0
Less: cost of goods sold$0$0
Other revenue$0$264,092
Total expenses$1,381,482$1,418,706
Program services$755,440$674,304
Management and general$626,042$744,402
Fundraising$0$0
Payments to affiliates$0$0
Net assets or fund balances at end of year$12,877,965$11,870,264
Excess or (deficit) for the year$-319,969$-698,848
Net assets or fund balances at beginning of year$13,238,135$12,877,965
Other changes in net assets or fund balances$-40,201$-308,853
Statement of Functional Expenses (for 2002)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$1,418,706$674,304$744,402$0
Grants paid from donor advised funds
Other grants and allocations$209,000
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$29,050$29,050$0$0
Compensation of former officers, directors, key employees, etc.
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)
Salaries and wages of employees not included above$31,458$31,458$0$0
Pension plan contributions not included above$0$0$0$0
Employee benefits not included above$10,502$10,502$0$0
Payroll taxes$2,407$2,407$0$0
Professional fundraising fees$0$0$0$0
Accounting fees$0$0$0$0
Legal fees$0$0$0$0
Supplies$6,437$6,437$0$0
Telephone$0$0$0$0
Postage and shipping$0$0$0$0
Occupancy$8,341$8,341$0$0
Equipment rental and maintenance$600$600$0$0
Printing and publications$0$0$0$0
Travel$0$0$0$0
Conferences, conventions, and meetings$0$0$0$0
Interest$624,960$0$624,960$0
Depreciation, depletion, etc.$116,013$59,190$56,823$0
Other expenses not covered above$379,938$317,319$62,619$0
Balance Sheets
20012002
Total assets$36,803,902$37,470,579
Cash - non-interest-bearing$573,090$398,382
Savings and temporary cash investments$4,571,035$0
Accounts receivable less allowance for doubtful accounts$0$0
Pledges receivable less allowance for doubtful accounts$0$0
Grants receivable$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)
Other notes and loans receivable less allowance for doubtful accounts$3,035,509$2,657,450
Inventories for sale or use$0$0
Prepaid expenses and deferred charges$88,447$777,534
Investments - publicly-traded securities
Investments - other securities$25,126,609$20,905,501
Investments - land, buildings, and equipment less accumulated depreciation$0$0
Investments - other$0$0
Land, buildings, and equipment less accumulated depreciation$2,555,755$12,547,066
Other assets, including program-related investments$853,457$184,646
Total liabilities$23,925,937$25,600,315
Accounts payable and accrued expenses$543,412$1,627,221
Grants payable$0$0
Deferred revenue$0$0
Loans from officers, directors, trustees, and key employees$0$0
Tax-exempt bond liabilities$23,185,000$23,185,000
Mortgages and other notes payable$0$0
Other liabilities$197,525$788,094
Total liabilities and net assets/fund balances$36,803,902$37,470,579
Total net assets or fund balances$12,877,965$11,870,264
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
20012002
Total revenue$1,061,513$719,858
Total revenue, gains, and other support per audited financial statements$1,196,455$719,858
Other expenses$134,942$0
Net unrealized gains on investments$-40,201$0
Donated services and use of facilities$0$0
Recoveries of prior year grants$0$0
Other$175,143$0
Other revenue$0$0
Investment expenses$0$0
Other$0$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
20012002
Total expenses$1,381,482$1,418,706
Total expenses and losses per audited financial statements$1,549,637$1,418,706
Other revenue$175,143$0
Donated services and use of facilities$0$0
Prior year adjustments$0$0
Losses$0$0
Other$175,143$0
Other expenses$6,988$0
Investment expenses$0$0
Other$6,988$0
Current Officers, Directors, Trustees, and Key Employees
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings0
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?
Does the organization have a written conflict of interest policy?
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?No
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?Yes
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?
Did the organization acquire a direct or indirect interest in any applicable insurance contract?
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?
Number of employees employed in the pay period that includes March 12, 20060
Analysis of Income-Producing Activities (for 2002)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$717,058$0
Program service revenue
Program service revenue 1000000$000$0$0
Program service revenue 2000000$000$0$0
Program service revenue 3000000$000$0$0
Program service revenue 4000000$000$0$0
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investments000000$000$0$0
Dividends and interest from securities000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$434,966$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$0Real property rental income that does not depend on the income or profits derived by the person leasing the property and is excluded by section 512(b)(3)$18,000$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$000$0$0
Gain or (loss) from sales of assets other than inventory000000$000$0$0
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$0Income from an activity that is not regularly carried on (section 512(a)(1))$264,092$0
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2002)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0%$0$0
0%$0$0
0%$0$0
0%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2002)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$0$0$0
$0$0$0
$0$0$0
$0$0$0
$0$0$0
Total number of other employees paid over $50,0000
Statements About Activities (for 2002)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?
Did the organization maintain any donor advised funds?
Did the organization make any taxable distributions under section 4966?
Did the organization make a distribution to a donor, donor advisor, or related person?
Enter the total number of donor advised funds owned at the end of the tax year
Enter the aggregate value of assets held in all donor advised funds owned at the end of the tax year
Enter the total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts
Enter the aggregate value of assets held in all funds or accounts included above at the end of the tax year
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isOrganization that normally receives: less than 1/3 of its support from gross investment income and unrelated taxable business income and more than 1/3 of its support from contribution, membership fees
Support Schedule
20002001
Total$2,009,528$1,063,304
Gifts, grants, and contributions received$15,428$0
Membership fees received$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$801,937$0
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$1,133,628$1,063,304
Net income from unrelated business activities not included above$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0
Other income$58,535$0
Lobbying Expenditures by Electing Public Charities (for 2002)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
Statements Regarding Other IRS Filings and Tax Compliance (for 2011)
Did the organization have unrelated business gross income of $1,000 or more during the year?No
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities $0
Gross income from members or shareholders$0
Gross income from other sources$0
Statement of Revenue (for 2011)
Total revenue$5,545,484
Contributions, Gifts, Grants and Other Similar Amounts$75,364
Program Service Revenue$5,413,379
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$37,185
Income from investment of tax-exempt bond proceeds$0
Royalties$0
Net rental income$0
Net loss from sales of assets other than inventory$-2,674
Gross amount from sales of assets other than inventory (Securities / Other)$0 / $0
Less: cost or other basis and sales expenses (Securities / Other)$2,674 / $0
Gain or (loss) (Securities / Other)$-2,674 / $0
Net income from fundraising events$6,134
Gross income from fundraising events$15,647
Less: direct expenses$9,513
Net income from gaming activities$0
Net loss from sales of inventory$-2,333
Gross sales of inventory, less returns and allowances$6,214
Less: cost of goods sold$8,547
Miscellaneous Revenue$18,429
Statement of Functional Expenses (for 2011)
Total functional expenses$6,396,155
Compensation of current officers, directors, trustees, and key employees$0
Other salaries and wages$0
Payroll taxes$0
Professional fundraising services$0
Other$6,396,155
Balance Sheet (for 2011)
Total assets$14,928,098
Total liabilities$23,046,427
Tax-exempt bond liabilities$14,650,000
Secured mortgages and notes payable to unrelated third parties$0
Unsecured notes and loans payable to unrelated third parties$0
Other$8,396,427
Total net assets or fund balances$-8,118,329
Retained earnings, endowment, accumulated income, or other funds$0
Reason for Public Charity Status (for 2011)
The organization is not a private foundation because it is:An organization that normally receives: (1) more than 33 1/3 % of its support from contributions, membership fees, and gross receipts from activities related to its exempt functions - subject to certain exceptions, and (2) no more than 33 1/3 % of its support from gross investment income and unrelated business taxable income (less section 511 tax) from businesses acquired by the organization after June 30, 1975
Support Schedule for Organizations Described in Section 509(a)(2) (for 2011)
2007 - 2011 Total
Total support$25,201,045
Gifts, grants, contributions, and membership fees received$386,644
Gross receipts from admissions, merchandise sold or services performed, or facilities furnished in any activity that is related to the organization's tax-exempt purpose$24,528,384
Tax revenues levied for the organization's benefit and either paid to or expended on its behalf$0
The value of services or facilities furnished by a governmental unit to the organization without charge$0
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources and Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975$241,180
Other$44,837
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IdNameAddressStateEstablishedTotal Income
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2King Farm Presbyterian Retirement701 King Farm Blvd, Rockville, MD 20850-6165MD2006-03$185,490,660
3Montereau Inc6800 S Granite Avenue, Tulsa, OK 74136-7039OK2000-06$114,472,714
4Linden Ponds Inc701 Maiden Choice Ln, Baltimore, MD 21228-5968MD2005-03$93,223,392
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6Indiana Masonic Home Inc690 S State St, Franklin, IN 46131-2553IN2003-03$37,591,525
7Hubbard Hill Estates Inc28070 Cr 24 West, Elkhart, IN 46517-9717IN1977-01$13,047,895
8River Terrace Estates Inc400 Caylor Blvd, Bluffton, IN 46714-8805IN2001-05$5,566,218
9Affordable Midwest Housing Corp11555 N Meridian St Ste 400, Indianapolis, IN 46240IN2008-11$3,145,727
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11Care Institute Inc-Mesa10401 N Meridian St Ste 122, Indianapolis, IN 46290-1090IN1995-10$15,932,789
12Oak Grove Christian Retirement Village Inc221 W Division Rd, Demotte, IN 46310-8377IN1997-10$5,305,258
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14Mt Zion Suburban Apartments Inc5260 Michigan Rd Ste 220, Indianapolis, IN 46228-2356IN1986-07$963,072
15Homestead Enterprise Housing Inc1402 173rd St, Hammond, IN 46324-2861IN2003-02$939,758
16El-Beulah Retirement Village7555 El Beulah Blvd, Indianapolis, IN 46256-2928IN2002-02$822,295
17Mother Theodore Corporation711 Ohio St, Terre Haute, IN 47807-3717IN1996-08$699,598
18Mother Theodore Corporation Ii711 Ohio St, Terre Haute, IN 47807-3717IN2005-12$424,168
19Advance Community Development IncPO BOX 6586, Fort Wayne, IN 46896-0586IN1999-05$345,146
20Ahepa 232 Iii Inc7355 Shadeland Station Way, Indianapolis, IN 46256-3971IN2003-07$328,068
Number of organizations performing similar types of work
Alaska12
Alabama39
Arkansas50
Arizona38
California236
Colorado51
Connecticut26
District of Columbia8
Delaware8
Florida154
Georgia86
Hawaii13
Iowa27
Idaho7
Illinois76
Indiana45
Kansas24
Kentucky27
Louisiana45
Massachusetts77
Maryland64
Maine21
Michigan89
Minnesota105
Missouri47
Mississippi18
Montana9
North Carolina67
North Dakota12
Nebraska22
New Hampshire16
New Jersey61
New Mexico14
Nevada6
New York162
Ohio130
Oklahoma34
Oregon55
Pennsylvania113
Rhode Island26
South Carolina36
South Dakota10
Tennessee77
Texas148
Utah7
Virginia53
Vermont12
Washington49
Wisconsin57
West Virginia12
Wyoming8
International75
Total2,664

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