Elderly Home Inc
- Assets
- $1.6m
- Revenue
- $325.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Madawaska, ME
- Founding
- 07/1967
- Data as of
- 06/2021
- EIN
- 01-6024156
Organization Overview
Elderly Home Inc is located in Madawaska, ME. The organization was established in 1967. According to its NTEE Classification (L22) the organization is classified as: Senior Citizens Housing & Retirement Communities, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Elderly Home Inc is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 06/2021, Elderly Home Inc generated $325.3k in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (0.5%) each year. All expenses for the organization totaled $386.2k during the year ending 06/2021. 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
TO ACQUIRE AN INTEREST IN REAL PROPERTY AND OPERATE AN APARTMENT COMPLEX UNDER SECTION 202 OF THE NATIONAL HOUSING ACT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE HOUSING TO THE ELDERLY AND POOR
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dave Wylie President | OfficerTrustee | 0 | $0 |
Dale Oullette Vice President | OfficerTrustee | 0 | $0 |
Nancy Cyr Treasurer | Trustee | 0 | $0 |
Jamie Pelletier Member | Trustee | 0 | $0 |
Kelly Picard Treasurer | Trustee | 0 | $0 |
Sharon Boucher Member | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $211,311 |
| 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 | $211,311 |
| Total Program Service Revenue | $113,544 |
| Investment income | $488 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $325,343 |
| 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 | $25,728 |
| Fees for services: Legal | $4 |
| Fees for services: Accounting | $16,161 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $7,143 |
| Office expenses | $2,429 |
| 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 | $69,308 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $75,828 |
| Insurance | $18,077 |
| All other expenses | $2,817 |
| Total functional expenses | $386,215 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $143,860 |
| Savings and temporary cash investments | $289,148 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,008 |
| 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 | $10,076 |
| Net Land, buildings, and equipment | $1,126,973 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $61,372 |
| Other assets | $8,667 |
| Total assets | $1,643,104 |
| Accounts payable and accrued expenses | $9,391 |
| Grants payable | $0 |
| Deferred revenue | $565 |
| 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 | $1,259,945 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $8,667 |
| Total liabilities | $1,278,568 |
| Net assets without donor restrictions | $0 |
| 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 | -$60,872 |
| Total liabilities and net assets/fund balances | $1,643,104 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Kendal At Hanover I Hanover, NH | $202,821,277 | $31,489,711 |
Maine Life Care Retirement Community Inc Scarborough, ME | $140,484,243 | $23,531,278 |
Riverwoods Durham Durham, NH | $126,625,985 | $17,724,252 |
Metro Health Foundation Of New Hampshire Inc Meredith, NH | $23,007,411 | $13,396,555 |
Huntington At Nashua Nashua, NH | $69,976,352 | $16,206,015 |
Seventy-Five State Street Portland, ME | $13,728,048 | $7,315,171 |
Jha Assisted Living Inc Portland, ME | $14,866,848 | $7,038,080 |
Baldwin Senoir Living Londonderry, NH | $22,001,012 | $0 |
Franklin Home For The Aged Association Franklin, NH | $22,009,472 | $3,298,443 |
Bangor Housing Development Corporation Bangor, ME | $11,349,927 | $2,567,289 |
Phillips-Strickland House Corporation Bangor, ME | $8,449,494 | $2,117,015 |
Maple Grove Elderly Housing Corporation Portland, ME | $8,726,293 | $2,128,968 |