Episcopal Retirement Services Foundation
- Assets
- $67.8m
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 0
- Location
- Cincinnati, OH
- Founding
- 02/1998
- Data as of
- 12/2021
- EIN
- 31-1570272
Organization Overview
Episcopal Retirement Services Foundation is located in Cincinnati, OH. The organization was established in 1998. According to its NTEE Classification (P11) the organization is classified as: Single Organization Support, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Episcopal Retirement Services Foundation 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, Episcopal Retirement Services Foundation generated $1.6m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (8.1%) each year. All expenses for the organization totaled $2.8m 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
THE EXCLUSIVE PURPOSE FOR WHICH EPISCOPAL RETIREMENT SERVICES FOUNDATION WAS FORMED IS TO SOLICIT, RECEIVE, ACQUIRE, HOLD, MONITOR AND INVEST MONEY AND OTHER REAL AND PERSONAL PROPERTY AND, FROM TIME TO TIME, DISBURSE THE SAME AND/OR THE INCOME THEREFROM TO EPISCOPAL RETIREMENT HOMES, INC., AN ORGANIZATION EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE IRC OF 1986 AS AMENDED AND AS FURTHER DESCRIBED IN SECTION 509(A)(1) OF SAID CODE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE EPISCOPAL RETIREMENT SERVICES FOUNDATION (ERSF) HAS BEEN SUCCESSFUL IN SOLICITING, RECEIVING AND INVESTING FUNDS FOR THE SUPPORT OF EPISCOPAL RETIREMENT SERVICES (ERS) AND EPISCOPAL RETIREMENT HOMES, INC. (ERH). THIS HAS ENABLED ERS AND ERH TO CONTINUE OPERATING AND DEVELOPING SENIOR HOUSING FOR THE COMMUNITY IN CONTINUING CARE RETIREMENT COMMUNITIES, AFFORDABLE SUBSIDIZED HOUSING, COMMUNITY SERVICES, MEALS ON WHEELS AND PARISH HEALTH MINISTRY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joann Hagopian Chair | OfficerTrustee | 0.2 | $0 |
Laura Lamb Director/president/ceo | OfficerTrustee | 10 | $0 |
Megan Bradford Vp, Middle Market & Ministry | Officer | 10 | $0 |
Daniel Steward Cfo/treasurer/secretary | Officer | 10 | $0 |
Joan Wetzel Vp, Hr & Org Dev | Officer | 10 | $0 |
Bryan Reynolds Vp, Marketing | Officer | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $58,235 |
| Related organizations | $0 |
| Government grants | $54,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $936,800 |
| Noncash contributions included in lines 1a–1f | $10,617 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,049,035 |
| Total Program Service Revenue | $0 |
| Investment income | $323,107 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $253,092 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,625,234 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,277,684 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $150,000 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $140 |
| Office expenses | $0 |
| 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 | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $414,954 |
| Total functional expenses | $2,842,778 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,181,929 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $211,618 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $33,972,775 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $30,391,341 |
| Total assets | $67,757,663 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,585,124 |
| Total liabilities | $1,585,124 |
| Net assets without donor restrictions | $31,591,125 |
| Net assets with donor restrictions | $34,581,414 |
| 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 | $67,757,663 |
Grants Awarded
Over the last fiscal year, Episcopal Retirement Services Foundation has awarded $2,277,684 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Cincinnati, OH PURPOSE: GENERAL OPERATING SUPPORT | $1,875,766 |
Cincinnati, OH PURPOSE: GENERAL OPERATING SUPPORT | $401,918 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Episcopal Retirement Services Foundation has recieved totaling $86,425.
| Awarding Organization | Amount |
|---|---|
Ohio Capital Impact Corporation Columbus, OH PURPOSE: SPONSORSHIP | $60,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: HUMAN SERVICES | $17,225 |
Greater Cincinnati Foundation Cincinnati, OH PURPOSE: GENERAL PURPOSE | $9,200 |
Endowment Analysis
| Beg. Balance | $32,026,500 |
| Earnings | $3,229,019 |
| Net Contributions | $6,151 |
| Other Expense | $1,258,867 |
| Ending Balance | $34,002,803 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Childrens Home Of Bradford Pa Bradford, PA | $26,433,837 | $14,233,894 |
Indiana Masonic Home Foundation Incorporated Indianapolis, IN | $99,812,829 | $12,316,628 |
Inglis Foundation Philadelphia, PA | $233,825,090 | $16,920,191 |
The Watson Institute Sewickley, PA | $170,930,648 | $13,658,608 |
Kidsvoice Pennsylvania Inc Pittsburgh, PA | $7,340,747 | $6,599,088 |
Stoneridge Retirement Living Communities Inc Myerstown, PA | $4,364,446 | $5,435,180 |
Sisters Of Charity Foundation Of Canton Cleveland, OH | $111,250,604 | $3,627,612 |
Enterprise Zone Education And Training Center Corporation Evansville, IN | $4,249,617 | $5,412,109 |
Early Childhood Resource Center Cleveland, OH | $3,858,809 | $4,039,118 |
Sunset Legacy Foundation Jenison, MI | $5,636,238 | $2,457,486 |
Green Hills Foundation West Liberty, OH | $7,049,726 | $3,722,965 |
Leader Dogs For The Blind Foundation Rochester Hills, MI | $71,517,820 | $5,571,378 |