Island Elderly Housing Inc
- Assets
- $3.3m
- Revenue
- $916.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Vineyard Haven, MA
- Founding
- 05/1979
- Data as of
- 08/2022
- EIN
- 04-2638453
Organization Overview
Island Elderly Housing Inc is located in Vineyard Haven, MA. The organization was established in 1979. 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. Island Elderly Housing 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 08/2022, Island Elderly Housing Inc generated $916.9k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.2% each year. All expenses for the organization totaled $1.0m during the year ending 08/2022. While expenses have increased by 1.9% 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
PROVIDE AFFORDABLE HOUSING FOR THE ELDERLY AND DISABLED
Describe the Organization's Program Activity:
Part 3 - Line 4a
AFFORDABLE HOUSING FOR THE ELDERLY AND DISABLED
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Marcia Mulford Cini Director | Trustee | 2 | $0 |
Simone Desorcy President | Trustee | 2 | $0 |
Cole Powers Director | Trustee | 2 | $0 |
William Lytle Director | Trustee | 2 | $0 |
Jemima James Clerk | Trustee | 2 | $0 |
Robert Edmunds Treasurer | 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 | $19,247 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $19,247 |
| Total Program Service Revenue | $688,567 |
| Investment income | $2,184 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $6,625 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $916,888 |
| 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 | $306,077 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $70,683 |
| Payroll taxes | $25,367 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,762 |
| Fees for services: Accounting | $5,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,277 |
| Office expenses | $35,422 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $2,400 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $129,317 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $79,120 |
| Insurance | $48,183 |
| All other expenses | $758 |
| Total functional expenses | $1,033,436 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $994,977 |
| Savings and temporary cash investments | $93,460 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $122 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $421,771 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $87,551 |
| Net Land, buildings, and equipment | $1,682,709 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $26,655 |
| Total assets | $3,307,245 |
| Accounts payable and accrued expenses | $513,446 |
| 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 | $2,307,749 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $26,615 |
| Total liabilities | $2,847,810 |
| Net assets without donor restrictions | $459,435 |
| 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 | $3,307,245 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Island Elderly Housing Inc has recieved totaling $19,530.
| Awarding Organization | Amount |
|---|---|
Marthas Vineyard Community Foundation Inc West Tisbury, MA PURPOSE: COMMUNITY GARDEN | $19,125 |
Marvin And Annette Lee Foundation Inc Greenville, NH PURPOSE: TO SUPPORT CHARITABLE ACTIVITIES | $400 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $5 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Colgate Palmolive Post Retirement Veba Tr New York, NY | $1,964,886 | $6,599,849 |
Orchard Park Ccrc Inc Orchard Park, NY | $79,217,375 | $18,334,727 |
Christopher House Inc Worcester, MA | $11,659,464 | $17,133,392 |
Firemens Association Of The State Of New York Albany, NY | $46,544,668 | $18,019,275 |
Ascentria Care Alliance Inc West Brookfield, MA | $28,862,438 | $18,232,969 |
Good Shepherd Village At Endwellinc Endwell, NY | $76,298,914 | $15,180,205 |
Gurwin Jewish-Fay J Lindner Residences Inc Commack, NY | $18,352,784 | $14,495,214 |
Island Rehabilitation And Nursing Center Inc Holtsville, NY | $20,545,926 | $27,917,787 |
Overlook Communities Inc Charlton, MA | $31,731,503 | $14,000,337 |
Alliance Health Of Massachusetts Inc Southborough, MA | $12,196,543 | $13,916,904 |
Beverwyck Inc Slingerlands, NY | $81,150,953 | $18,557,714 |
Metro Health Foundation Of New Hampshire Inc Meredith, NH | $23,007,411 | $13,396,555 |