Ave Maria Home
- Assets
- $23.3m
- Revenue
- $20.3m
- Investments
- $0.0
- Employees
- 400
- Location
- Memphis, TN
- Founding
- 09/1985
- Data as of
- 06/2022
- EIN
- 62-0561701
Organization Overview
Ave Maria Home is located in Memphis, TN. The organization was established in 1985. According to its NTEE Classification (P75) the organization is classified as: Supportive Housing for Older Adults, under the broad grouping of Human Services and related organizations. As of 06/2022, Ave Maria Home employed 400 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ave Maria Home 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, Ave Maria Home generated $20.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.2% each year. All expenses for the organization totaled $20.6m during the year ending 06/2022. While expenses have increased by 6.1% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
TO ASSIST THE AGED, SICK, AND DESTITUTE THROUGH: IMPROVING THE MORAL, SOCIAL, AND SPIRITUAL CONDITIONS OF ITS BENEFICIARIES; CONTINUING THE STEWARDSHIP OF HUMAN, PHYSICAL, AND FINANCIAL RESOURCES IN CONJUNCTION WITH THE CATHOLIC COMMUNITY; FACILITATING VISITATION BY FAMILY, FRIENDS, AND MEMBERS OF THE COMMUNITY; AND PROVIDING A COMMITMENT TO LONG-TERM AND REHABILITATIVE CARE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NURSING HOME - PROVIDE TWENTY-FOUR HOUR INTERMEDIATE NURSING CARE FOR LEVEL ONE RESIDENTS.
ADULT DAY CARE - OPERATION OF A SOCIAL MODEL TO PROVIDE STRUCTURED SOCIALIZATION FOR THE FRAIL AND ELDERLY.ALZHEIMERS/DEMENTIA CARE - PROGRAM IS DESIGNED TO PROMOTE FAMILIAR SCHEDULES AND SURROUNDINGS WHILE PROVIDING PERSONAL ASSISTANCE WITH DAILY ACTIVITIES.
ASSISTED LIVING - PROVIDE TWENTY-FOUR HOUR LIMITED CARE BASED ON THE RESIDENT'S NEED FOR ASSISTANCE.
OUTPATIENT THERAPY - IN 2021, AVE MARIA HOME EXPANDED SERVICES TO INCLUDE OUTPATIENT THERAPY TO CLIENTS RESIDING AT LOCAL INDEPENDENT AND ASSISTED LIVING COMMUNITIES. AVE MARIA HOME HAS ASSEMBLED A HIGHLY SKILLED TEAM OF THERAPISTS WHO PROVIDE OUTPATIENT THERAPY SERVICES AND A VARIETY OF WELLNESS PROGRAMS TO THESE CLIENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Anna Vescovo President | OfficerTrustee | 1 | $0 |
Michael Robilio Vice President | OfficerTrustee | 1 | $0 |
Mary Webb Secretary | OfficerTrustee | 1 | $0 |
John L Schifani Treasurer | OfficerTrustee | 1 | $0 |
Libby Buring Director | Trustee | 1 | $0 |
Ford Canale Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Certified Medical Staffing Llc Staffing Agency | 6/29/22 | $823,099 |
Elite Medical Staffing Staffing Agency | 6/29/22 | $616,005 |
Prime Time Healthcare Staffing Agency | 6/29/22 | $422,588 |
Guardian Midsouth Pharmacy Contract Pharmacy | 6/29/22 | $310,921 |
Real Nurses Llc Staffing Agency | 6/29/22 | $147,016 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,796,411 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,404 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,799,815 |
| Total Program Service Revenue | $17,374,518 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $109,840 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $20,284,173 |
| 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. | $44,398 |
| Compensation of current officers, directors, key employees. | $3,552 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $9,795,330 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $473,262 |
| Payroll taxes | $703,782 |
| Fees for services: Management | $56,189 |
| Fees for services: Legal | $50,113 |
| Fees for services: Accounting | $50,026 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $66,907 |
| Advertising and promotion | $18,237 |
| Office expenses | $41,944 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,038,417 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $218,302 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,052,676 |
| Insurance | $757,632 |
| All other expenses | $1,582,712 |
| Total functional expenses | $20,621,863 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,848 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,754,197 |
| 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 | $7,902 |
| Net Land, buildings, and equipment | $20,532,983 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $39,636 |
| Total assets | $23,341,566 |
| Accounts payable and accrued expenses | $2,206,311 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $11,484,778 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $118,886 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $4,832,926 |
| Total liabilities | $18,642,901 |
| Net assets without donor restrictions | $4,698,665 |
| 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 | $23,341,566 |