Program areas at The Prospect-Woodward Home
On august 30, 2021 The Prospect-Woodward Home, a continuing care retirement community, filed for chapter 11 bankruptcy protection following a period of financial hardship. Through The process, substantially all of The assets were sold on february 15, 2022 to covenant living services, an Illinois not-for-profit corporation with an address of 5700 old orchard road, skokie, il, 60077. The prospect-wooodward Home received net cash of $31,137,865 in 2022 for all of its land, buildings and equipment as well as assumption of certain residency agreement liabilities. Prospect-Woodward also transferred to covenant living services substantially all of its donor-restricted funds in 2022, with The remaining donor-restricted funds of $17,850 transferred in 2023. A plan of liquidation was approved by The bankruptcy court and became effective on may 23, 2022. During 2023 as part of The bankrupcty court order The secured line of credit was settled in The amount of $375,000.
Monthly service fees associated with operation and maintenance of il
Monthly service fees associated with operation and maintenance of al
Other revenue associated with operation and maintenance of il and al
Amort. Of ef associated with operation and maintenance of il and al
Personnel at The Prospect-Woodward Home
| Name | Title | Compensation | Date of data |
|---|
| Rob Fallon | Executive Director | $52,500 | 2022-12-31 |
| Amanda Clark | Director of Nursing | $111,989 | 2021-12-31 |
| Tracey Borden | Director of Sales | $83,670 | 2021-12-31 |
| Aaron Pouliot | Director of Food and B | $85,122 | 2021-12-31 |
| Gregg Burdett | Director of Human Re | $76,834 | 2021-12-31 |
| ...and 3 more key personnel |
Financials for The Prospect-Woodward Home
| Revenues | FYE 12/2023 | FYE 12/2022 | % Change |
|---|
| Total grants, contributions, etc. | $0 | $0 | - |
| Investment income and dividends | $88,626 | $6,011 | 1374.4% |
| Net rental income | $0 | $0 | - |
| Net gain from sale of non-inventory assets | $0 | $-16,493,923 | -100% |
| Gross sales of inventory | $0 | $0 | - |
| Miscellaneous revenues | $0 | $1,306,803 | -100% |
| Total revenues | $88,626 | $-15,181,109 | 100.6% |
Organizations like The Prospect-Woodward Home
| Organization | Type | Location | Revenue |
|---|
| The Conkling Center | 501(c)(3) | Glens Falls, NY | $416,909 |
| Reber Home | 501(c)(3) | Las Vegas, NV | $32,158 |
| St Johns Ucc Elder Life Community A Christian Caring Campus | 501(c)(3) | Genoa, OH | $224,630 |
| Henry Keep Home | 501(c)(3) | Watertown, NY | $162,259 |
| Brown-Pusey House | 501(c)(3) | Elizabethtown, KY | $185,030 |
| Menorah Center Foundation | 501(c)(3) | Saint Petersburg, FL | $40,338 |
| Nursing Placement Foundation | 501(c)(3) | Pawtucket, RI | $24,390 |
| Good Shepherd Foundation | 501(c)(3) | Rushford, MN | $54,374 |
| New York Armenian Home | 501(c)(3) | Forest Hills, NY | $246,081 |
| The Mennowood Foundation | 501(c)(3) | Newport News, VA | $142,890 |
Data update history
January 22, 2024
Posted financials
Added Form 990PF for fiscal year 2022
January 1, 2024
Used new vendors
Identified 1 new vendor, including
July 15, 2023
Posted financials
Added Form 990PF for fiscal year 2021
July 5, 2023
Updated personnel
Identified 21 new personnel
May 21, 2023
Used new vendors
Identified 5 new vendors, including , , , , and
Nonprofit Types
Private foundationsPrivate operating foundationsExempt operating foundationsNursing homesHuman service organizationsCharities
Issues
Human servicesHousing
Characteristics
Tax deductible donationsNo full-time employees
General information
- Address
- 1276 Monroe Ave
- Wyomissing, PA 19610
- Metro area
- Reading, PA
- County
- Berks County, PA
- Phone
- (603) 283-5150
IRS details
- EIN
- 02-0222146
- Fiscal year end
- December
- Taxreturn type
- Form 990-PF
- Year formed
- 1944
- Eligible to receive tax-deductible contributions (Pub 78)
- Yes
Categorization
- NTEE code, primary
- P75: Senior Continuing Care Communities
- NAICS code, primary
- 813211: Grantmaking Foundations
- Parent/child status
- Independent
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