Emerson Center Inc
- Assets
- $1.2m
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 25
- Location
- Lexington, KY
- Founding
- 12/1968
- Data as of
- 01/2024
- EIN
- 23-7007367
Organization Overview
Emerson Center Inc is located in Lexington, KY. The organization was established in 1968. According to its NTEE Classification (P75) the organization is classified as: Supportive Housing for Older Adults, under the broad grouping of Human Services and related organizations. As of 01/2024, Emerson Center Inc employed 25 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Emerson Center Inc is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 01/2024, Emerson Center Inc generated $1.4m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 1.7% each year. All expenses for the organization totaled $1.4m during the year ending 01/2024. While expenses have increased by 3.0% per year over the past 5 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
ASSIST IN PROVIDING AFFORDABLE HOUSING TO THE ELDERLY AND DISABLED.
Describe the Organization's Program Activity:
Part 3 - Line 4a
178 UNITS ARE MADE AVAILABLE, WITH THE ASSISTANCE FROM HUD, TO ELDERLY AND/OR HANDICAPPED INDIVIDUALS. MANY TENANTS RECEIVE HOUSING ASSISTANCE PAYMENTS FROM HUD.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Samuel Halley III Emeritus Director | Trustee | 0 | $0 |
Kimberly Browning Secretary | OfficerTrustee | 4 | $0 |
Liz Caras Vice President | OfficerTrustee | 2 | $0 |
Carole Lee Director | Trustee | 5 | $0 |
David T Miller President | OfficerTrustee | 12 | $0 |
Walter Forster Emeritus Director | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| 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 | $0 |
| Total Program Service Revenue | $1,366,742 |
| Investment income | $1,023 |
| 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 | $1,388,077 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $274,782 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $85,443 |
| Payroll taxes | $21,021 |
| Fees for services: Management | $68,070 |
| Fees for services: Legal | $1,750 |
| Fees for services: Accounting | $14,731 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $10,176 |
| Office expenses | $42,135 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $5,102 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $61,811 |
| Insurance | $123,700 |
| All other expenses | $10,378 |
| Total functional expenses | $1,368,415 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,476 |
| Savings and temporary cash investments | $494,513 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $23,931 |
| 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 | $109,987 |
| Net Land, buildings, and equipment | $599,703 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,230,610 |
| Accounts payable and accrued expenses | $121,707 |
| Grants payable | $0 |
| Deferred revenue | $14,327 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $47,482 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $283,521 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $467,037 |
| Net assets without donor restrictions | $763,573 |
| Net assets with donor restrictions | $0 |
| 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 | $1,230,610 |