Senior Network Inc
- Assets
- $1.9m
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 32
- Location
- Waldorf, MD
- Founding
- 10/1989
- Data as of
- 12/2021
- EIN
- 52-1645647
Organization Overview
Senior Network Inc is located in Waldorf, MD. The organization was established in 1989. According to its NTEE Classification (P70) the organization is classified as: Residential Care & Adult Day Programs, under the broad grouping of Human Services and related organizations. As of 12/2021, Senior Network Inc employed 32 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Senior Network 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, Senior Network Inc generated $1.4m 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 (3.7%) each year. All expenses for the organization totaled $1.3m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (4.2%) 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO FACILITATE A HIGH QUALITY OF LIFE FOR THE AT RISK ELDERLY AND THEIR FAMILIES THROUGH THE PROVISION OF DAYTIME AND/OR RESIDENTIAL CARE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ADULT DAYCARE SERVICES ARE PROVIDED TO AT RISK ELDERLY. THESE SERVICES ARE A COST EFFECTIVE ALTERNATIVE TO OTHER FORMS OF HEALTH CARE. IN ADDITION, THE ORGANIZATION PROVIDES SERVICES TO AND MANAGEMENT OF ASSISTED LIVING FOR THE ELDERLY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Craig D Lakin Executive Director | Officer | 60 | $134,616 |
Kurt Martin Secretary/treasurer | Trustee | 1 | $0 |
John Mcconnell Director | Trustee | 1 | $0 |
Kevin Holohan Chair | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $218,617 |
| All other contributions, gifts, grants, and similar amounts not included above | $27,334 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $245,951 |
| Total Program Service Revenue | $1,109,568 |
| Investment income | $774 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $1,285 |
| 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 | $1,386,558 |
| 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. | $140,616 |
| Compensation of current officers, directors, key employees. | $28,123 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $624,743 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $22,645 |
| Payroll taxes | $57,270 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,010 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,457 |
| Fees for services: Other | $3,340 |
| Advertising and promotion | $1,242 |
| Office expenses | $16,651 |
| Information technology | $26,737 |
| Royalties | $0 |
| Occupancy | $34,134 |
| Travel | $349 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $269 |
| Interest | $39,575 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $84,109 |
| Insurance | $78,958 |
| All other expenses | $12,018 |
| Total functional expenses | $1,285,442 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $265,349 |
| Savings and temporary cash investments | $201,908 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $26,361 |
| 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 | $35,683 |
| Net Land, buildings, and equipment | $1,191,989 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $175,786 |
| Total assets | $1,897,076 |
| Accounts payable and accrued expenses | $144,844 |
| 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 | $71,800 |
| Secured mortgages and notes payable | $734,420 |
| Unsecured mortgages and notes payable | $329,487 |
| Other liabilities | $0 |
| Total liabilities | $1,280,551 |
| Net assets without donor restrictions | $616,525 |
| 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 | $1,897,076 |
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