Catholic Ministry To The Elderly
- Assets
- $5.2m
- Revenue
- $329.3k
- Investments
- $1.2m
- Employees
- 7
- Location
- Newark, DE
- Founding
- 03/1946
- Data as of
- 06/2022
- EIN
- 51-0255891
Organization Overview
Catholic Ministry To The Elderly is located in Newark, DE. The organization was established in 1946. According to its NTEE Classification (P81) the organization is classified as: Senior Centers, under the broad grouping of Human Services and related organizations. As of 06/2022, Catholic Ministry To The Elderly employed 7 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Catholic Ministry To The Elderly 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 06/2022, Catholic Ministry To The Elderly generated $329.3k 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 (15.9%) each year. All expenses for the organization totaled $258.1k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (15.2%) per year over the past 7 years. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
CATHOLIC MINISTRY TO THE ELDERLY, INC. (MINISTRY) WAS INCORPORATED IN THE STATE OF DELAWARE ON JANUARY 6, 1978. HISTORICALLY, THE MINISTRY OWNED AND OPERATED THE MARYDALE RETIREMENT COMMUNITY, A 108-UNIT U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD) SUBSIDIZED HOUSING PROJECT FOR LOW-INCOME ELDERLY AND HANDICAPPED INDIVIDUALS. THE MINISTRY NOW OPERATES THE HOUSING PROJECT AS THE GENERAL PARTNER OF MARYDALE PRESERVATION ASSOCIATES, LLC (MPA).
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PARTICIPATE AS A GENERAL PARTNER IN MARYDALE PRESERVATION ASSOCIATES, LLC (MPA), A LOW-INCOME HOUSING TAX CREDIT PROJECT. MPA OPERATES MARYDALE RETIREMENT VILLAGE, A HUD-SUBSIDIZED HOUSING PROJECT FOR LOW-INCOME ELDERLY AND HANDICAPPED INDIVIDUALS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James V Dugar Secretary | OfficerTrustee | 2 | $0 |
Joseph Corsini Treasurer | OfficerTrustee | 2 | $0 |
Monsignor Steven P Hurley Vg Vice President | OfficerTrustee | 2 | $0 |
Most Rev William E Koenig President | OfficerTrustee | 2 | $0 |
Fritz Jones Trustee | Trustee | 2 | $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 | $197,684 |
| Investment income | $24,580 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $107,042 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $329,306 |
| 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 | $214,730 |
| Pension plan accruals and contributions | $7,292 |
| Other employee benefits | $0 |
| Payroll taxes | $15,650 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,300 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $10,166 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| 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 | $0 |
| Total functional expenses | $258,075 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $14,533 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $3,457,134 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,170,477 |
| Investments—program-related | $1,344 |
| Intangible assets | $0 |
| Other assets | $600,808 |
| Total assets | $5,244,296 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $5,244,296 |
| 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 | $5,244,296 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Philadelphia Corporation For Aging Philadelphia, PA | $34,478,381 | $88,420,112 |
Living Independence For The Elderly Pittsburgh Inc Pittsburgh, PA | $45,005,656 | $55,592,400 |
Center For Workforce Inclusion Inc Silver Spring, MD | $19,940,028 | $57,138,753 |
National Investment Center For Seniors Housing & Care Inc Annapolis, MD | $55,654,799 | $19,355,581 |
Southwestern Pennsylvania Area Charleroi, PA | $3,794,920 | $18,303,240 |
Blair Senior Services Inc Altoona, PA | $9,557,910 | $10,335,546 |
Cheer Inc Georgetown, DE | $13,939,412 | $9,138,607 |
Modern Maturity Center Inc Dover, DE | $11,944,802 | $7,663,411 |
Mac Incorporated Salisbury, MD | $10,678,117 | $7,288,274 |
Area Agency On Aging For The Counties Of Brad Sull Susq And Tio Towanda, PA | $2,044,253 | $6,580,429 |
Senior Citizens United Community Services Of Camden County Inc Audubon, NJ | $5,026,909 | $6,535,637 |
Hhh Senior Specialist Greensburg, PA | $1,641,210 | $5,675,023 |