Mcgraw Housing Company Inc
- Assets
- $5.3m
- Revenue
- $984.1k
- Investments
- $0.0
- Employees
- 23
- Location
- Ithaca, NY
- Founding
- 11/1971
- Data as of
- 03/2024
- EIN
- 16-0976528
Organization Overview
Mcgraw Housing Company Inc is located in Ithaca, NY. The organization was established in 1971. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. As of 03/2024, Mcgraw Housing Company Inc employed 23 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mcgraw Housing Company Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 03/2024, Mcgraw Housing Company Inc generated $984.1k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 0.9% each year. All expenses for the organization totaled $1.2m during the year ending 03/2024. While expenses have increased by 1.6% per year over the past 9 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2024
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF MCGRAW HOUSE IS TO PROVIDE A SECURE SENIOR LIVING ENVIRONMENT WHICH:* SUPPORTS AND ENCOURAGES INDEPENDENCE* PROVIDES PRIVACY* ALLOWS INDIVIDUALITY* WELCOMES DIVERSITY* FOSTERS A SENSE OF COMMUNITY* ENHANCES THE QUALITY OF LIFE
Describe the Organization's Program Activity:
Part 3 - Line 4a
MCGRAW HOUSE IS AN APARTMENT BUILDING THAT PROVIDES A FRIENDLY COMMUNITY FOR ACTIVE SENIORS IN ITHACA, NY. WE HAVE 65 STUDIO AND 40 ONE BEDROOM APARTMENTS. A GUEST APARTMENT IS AVAILABLE FOR VISITING FAMILY MEMBERS. WE HAVE A FULL-TIME SERVICE COORDINATOR TO ASSIST RESIDENTS IN OBTAINING NECESSARY SERVICES AS THEY AGE IN PLACE. AN EVENING MEAL CAN BE PURCHASED FROM OUR DINING SERVICE FIVE DAYS A WEEK. WE HAVE A CLEAN, WELL MAINTAINED, SAFE, SECURE BUILDING, WITH TWO ELEVATORS THAT SERVICE ALL SIX FLOORS, AND FRIENDLY 24-HOUR STAFFING. THE MAIN FLOOR INCLUDES A SPACIOUS AIR CONDITIONED LOUNGE, PLUS LAUNDRY, ACTIVITY ROOM AND DINING AREA, AVAILABLE FOR ALL RESIDENTS TO ENJOY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Spadolini President | OfficerTrustee | 1 | $0 |
Liza Burger Vice President | OfficerTrustee | 1 | $0 |
Christine Brewer Member | Trustee | 1 | $0 |
Fran Withiam Member | Trustee | 1 | $0 |
Nancy Culligan Member | Trustee | 1 | $0 |
Leonardo Vargas-Mendez Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $50,727 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $50,727 |
| Total Program Service Revenue | $932,789 |
| Investment income | $539 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $984,055 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $84,834 |
| Compensation of current officers, directors, key employees. | $42,417 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $356,184 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $61,754 |
| Payroll taxes | $37,632 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,335 |
| Fees for services: Accounting | $14,300 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $10,257 |
| Advertising and promotion | $1,931 |
| Office expenses | $41,925 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $176,245 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $24,000 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $212,497 |
| Insurance | $61,484 |
| All other expenses | $0 |
| Total functional expenses | $1,187,917 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $150,138 |
| Savings and temporary cash investments | $628,675 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $36,519 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $38,782 |
| Net Land, buildings, and equipment | $4,459,785 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,313,899 |
| Accounts payable and accrued expenses | $122,893 |
| Grants payable | $4,557 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $5,815,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $66,916 |
| Total liabilities | $6,009,366 |
| Net assets without donor restrictions | -$738,875 |
| Net assets with donor restrictions | $43,408 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $5,313,899 |