Holy Cross Carenet Inc
- Assets
- $12.1m
- Revenue
- $134.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Farmington Hills, MI
- Founding
- 05/1998
- Data as of
- 06/2021
- EIN
- 52-1945054
Organization Overview
Holy Cross Carenet Inc, operating under the name See Schedule O, is located in Farmington Hills, MI. The organization was established in 1998. According to its NTEE Classification (E20) the organization is classified as: Hospitals, under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. See Schedule O 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 06/2021, See Schedule O generated $134.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (55.3%) each year. All expenses for the organization totaled $99.3k during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (58.3%) per year over the past 6 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 PROVIDE LONG TERM CARE SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HOLY CROSS CARENET WAS A 145 LONG TERM BEDS FACILITY WHICH WERE DUALLY CERTIFIED FOR NURSING OR REHABILITATION CARE. MEDICAL CARE WAS PROVIDED TO RESIDENTS REGARDLESS OF THEIR ABILITY TO PAY. HOLY CROSS CARENET CEASED OPERATIONS ON AUGUST 31, 2018 WHEN IT SOLD MOST OF ITS ASSETS TO AURORA HEALTH MANAGEMENT, INC. THE ENTITY IS IN THE PROCESS OF WINDING DOWN AND EXPECTS TO DISSOLVE SOON.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Arthur Henkel Director; Vice Chair | OfficerTrustee | 1 | $0 |
Steve Kastner Director; President And CEO | OfficerTrustee | 1 | $0 |
Lejon Poole Director; Chair | OfficerTrustee | 1 | $0 |
William Healy President Tssm; SVP Thsc | Officer | 1 | $0 |
Mark Mcpherson Trea;int Sec Thr12/20;cfo Cc Thr6/21 | Officer | 1 | $0 |
Mandi Murray Sec At 1/21; Trinity Managing Cnsl | Officer | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Select Rehabilitation Rehabilitation Services | 6/29/19 | $1,152,564 |
Ems Llc Laundry Services | 6/29/19 | $361,095 |
Unidine Corporation Dining Services | 6/29/19 | $352,920 |
Bge Baltimore Gas Electric Utilities | 6/29/19 | $139,194 |
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 | $24,011 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$7,198 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $134,649 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| 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 | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $6,851 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $92,408 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $99,259 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $87,229 |
| 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 | $5,734 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $12,008,325 |
| Total assets | $12,101,288 |
| Accounts payable and accrued expenses | $2,179 |
| 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 | $126,428 |
| Total liabilities | $128,607 |
| Net assets without donor restrictions | $11,972,681 |
| 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 | $12,101,288 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Highland Health Providers Corp Hillsboro, OH | $3,480,728 | $8,712,093 |
Grace Village Health Care Facility Inc Winona Lake, IN | $4,795,562 | $8,838,747 |
Wisconsin Hospital Association Inc Fitchburg, WI | $23,228,476 | $8,918,515 |
Ohiohealth Corportation Circleville, OH | $1,329,088 | $4,264,609 |
My Community Health Center Canton, OH | $4,110,237 | $8,459,363 |
Traverse Health Clinic & Coalition Traverse City, MI | $5,367,344 | $6,895,196 |
Chelsea Health And Wellness Foundation Chelsea, MI | $40,566,321 | $5,782,052 |
Southern Ohio Medical Center Title Holding Company Portsmouth, OH | $45,408,785 | $4,222,894 |
Specialty Hospital Of Lorain Amherst, OH | $3,346,810 | $6,231,679 |
Quality Behavioral Health Inc Detroit, MI | $18,010,680 | $7,609,711 |
Rmh Of Akroninc Akron, OH | $10,933,927 | $2,601,394 |
Milner Community Health Care Inc Rossville, IN | $8,049,951 | $3,721,591 |