Pilgrim Towers Inc
- Assets
- $3.5m
- Revenue
- $692.6k
- Investments
- $0.0
- Employees
- 3
- Location
- North Haven, CT
- Founding
- 11/1990
- Data as of
- 12/2021
- EIN
- 23-7425267
Organization Overview
Pilgrim Towers Inc is located in North Haven, CT. The organization was established in 1990. According to its NTEE Classification (L22) the organization is classified as: Senior Citizens Housing & Retirement Communities, under the broad grouping of Housing & Shelter and related organizations. As of 12/2021, Pilgrim Towers Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Pilgrim Towers 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 12/2021, Pilgrim Towers Inc generated $692.6k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.5%) each year. All expenses for the organization totaled $745.0k during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE HOUSING FOR THE ELDERLY AND OTHERS UNDER THE NATIONAL HOUSING ACT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE HOUSING FOR THE ELDERLY AND OTHERS UNDER THE NATIONAL HOUSING ACT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alvin E Hebert President | OfficerTrustee | 3 | $0 |
Rosemary Lamie Secretary | OfficerTrustee | 1 | $0 |
Joshua Ziac Treasurer | Trustee | 1 | $0 |
Marilyn Olsson Board Member | Trustee | 1 | $0 |
Pat Thatcher Board Member | Trustee | 1 | $0 |
Ellie Lowenstein Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $29,009 |
| 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 | $29,009 |
| Total Program Service Revenue | $652,033 |
| Investment income | $108 |
| 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 | $692,566 |
| 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 | $70,846 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $12,183 |
| Fees for services: Management | $36,561 |
| Fees for services: Legal | $5,130 |
| Fees for services: Accounting | $2,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $10,676 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $293,859 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $4,139 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $184,282 |
| Insurance | $42,605 |
| All other expenses | $0 |
| Total functional expenses | $745,028 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $53,076 |
| Savings and temporary cash investments | $110,180 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $64,685 |
| 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 | $33,889 |
| Net Land, buildings, and equipment | $2,708,046 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $529,157 |
| Total assets | $3,499,033 |
| Accounts payable and accrued expenses | $2,688 |
| Grants payable | $0 |
| Deferred revenue | $9,964 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,950,578 |
| Total liabilities | $2,963,230 |
| Net assets without donor restrictions | $535,803 |
| 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 | $3,499,033 |
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