Loretto Management Corporation
- Assets
- $58.3m
- Revenue
- $27.4m
- Investments
- $2.0m
- Employees
- 0
- Location
- Syracuse, NY
- Founding
- 06/1988
- Data as of
- 12/2019
- EIN
- 22-2873640
Organization Overview
Loretto Management Corporation is located in Syracuse, NY. The organization was established in 1988. According to its NTEE Classification (E91) the organization is classified as: Nursing Facilities, under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Loretto Management Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2019
Describe the Organization's Mission:
Part 3 - Line 1
TO ASSIST IN PLANNING AND COORDINATING SERVICES FOR THE ELDERLY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE FOOD AND FOOD SERVICE TO NURSING HOMES AND OTHER HEALTH CARE RELATED ENTITIES.
THE ORGANIZATION PROVIDES HEALTHCARE & NUTRITION SERVICES TO RELATED & UNRELATED ORGANIZATIONS.
THE ORGANIZATION PROVIDES SERVICES IN THE AREAS OF HUMAN RESOURCES, FINANCE, INFORMATION TECHNOLOGY AND ADMINISTRATION, AS WELL AS MEDICAL RECORDS MANAGMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Vicki O'neill Board Member, Past Chair | Trustee | 1 | $0 |
John Mccabe Board Member, Chair | OfficerTrustee | 1 | $0 |
John R Brennan Board Member, Secretary | OfficerTrustee | 1 | $0 |
Robert Marzella Board Member, Vice Chair | OfficerTrustee | 1 | $0 |
Pierre Morrisseau Board Member | Trustee | 1 | $0 |
Cindy Bird Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Adp Llc Payroll | 12/30/22 | $741,554 |
Mower Advertising | 12/30/22 | $828,788 |
Firstlight Telephone Service | 12/30/22 | $352,287 |
Commercial Investigations Llc Background Investigations | 12/30/22 | $269,783 |
Indeed Marketing | 12/30/22 | $142,172 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $0 |
| 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 | $27,392,118 |
| Statement of Expenses | |
|---|---|
| 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. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $12,529,881 |
| Pension plan accruals and contributions | $542,340 |
| Other employee benefits | $1,612,546 |
| Payroll taxes | $907,523 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $234,255 |
| Fees for services: Accounting | $59,042 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $974,156 |
| Advertising and promotion | $805,293 |
| Office expenses | $594,674 |
| Information technology | $1,778,038 |
| Royalties | $0 |
| Occupancy | $344,114 |
| Travel | $44,053 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $83,198 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $262,854 |
| Insurance | $25,330 |
| All other expenses | $0 |
| Total functional expenses | $25,949,501 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $181,965 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $65,962 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $215,093 |
| Prepaid expenses and deferred charges | $287,435 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,970,311 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $54,776,611 |
| Total assets | $58,290,214 |
| Accounts payable and accrued expenses | $5,010,227 |
| Grants payable | $0 |
| Deferred revenue | $2,841,557 |
| 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 | $1,221,416 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,341,540 |
| Total liabilities | $11,414,740 |
| Net assets without donor restrictions | $31,300,348 |
| Net assets with donor restrictions | $15,575,126 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $46,875,474 |