RIDGELY SENIOR CARE CORP

Mission

RIDGELY SENIOR CARE CORPORATION (RSCC)IS A SUCCESSOR TO THE TEMPLE FOUNDATION INC (TEMPLE) A PUBLIC CHARITY EXEMPT FROM INCOME TAX UNDER SECTION 501(C)(3). TEMPLE FORMERLY OPERATED A SENIOR LIVING FACILITY AND CONTINUING CARE RETIREMENT COMMUNITY IN FAIRFAX COUNTY, VA. THE FACILITY WAS OPERATED PURSUANT TO A LEASE AGREEMENT THAT EXPIRED IN APRIL 2019, WHEN THE LESSOR SOLD THE PROPERTY. SINCE THE LEASES INCEPTION IN 1980, TEMPLE ACCRUED RESERVES THAT WERE INTENDED FOR THE RENOVATION OF THE FACILITY AND IN ANTICIPATION OF ACQUIRING THE PROPERTY AT THE END OF THE LEASE TERM. WHEN THE EFFORT TO ACQUIRE THE PROPERTY PROVED UNSUCCESSFUL, THE TEMPLE BOARD DETERMINED THAT THE RESERVES SHOULD BE DONATED TO OTHER CHARITABLE ORGANIZATIONS PROVIDING COMMUNITY SERVICES TO ENHANCE THE LIVES OF OLDER ADULTS. RSCC WAS ESTABLISHED TO DISTRIBUTE THESE ASSETS TO OTHER 501(C)(3) CHARITABLE ORGANIZATIONS THAT ARE ACTIVE IN PROVIDING COMMUNITY SERVICES THAT SUPPORT AND ENHANCE THE QUALITY OF LIFE FOR OLDER

Financials

Compensation

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