Lathrop Community Inc
- Assets
- $20.1m
- Revenue
- $6.7m
- Investments
- $0.0
- Employees
- 90
- Location
- Easthampton, MA
- Founding
- 11/1990
- Data as of
- 12/2021
- EIN
- 04-2996627
Organization Overview
Lathrop Community Inc is located in Easthampton, MA. The organization was established in 1990. 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. As of 12/2021, Lathrop Community Inc employed 90 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lathrop Community 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, Lathrop Community Inc generated $6.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.2% each year. All expenses for the organization totaled $7.2m during the year ending 12/2021. While expenses have increased by 3.1% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO RESPOND WITH RESPECT AND COMPASSION TO THE CHANGING NEEDS OF OLDER ADULTS IN OUR COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SALES, MAINTENANCE OF RESIDENTIAL UNITS AND COMMON AREAS, RESALE FOR RESIDENTS, RESIDENT ACTIVITIES AND SUPPORT SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas Wright Past Executive Director | 40 | $136,541 | |
Holly Smith-Bove CFO | Officer | 40 | $98,554 |
Elisabeth Weissbach Interim Executive | Officer | 40 | $70,366 |
Lisa Halbert Treasurer | OfficerTrustee | 1 | $0 |
Charles Johnson Vice-Chair | OfficerTrustee | 1 | $0 |
David Stevens Chair | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Springvalley Landscaping Landscaping Services | 12/30/19 | $386,060 |
Dimella Shafer Associates Architect Services | 12/30/19 | $209,117 |
John Assad Construction Construction Services | 12/30/19 | $161,295 |
Bonde Construction Construction Services | 12/30/19 | $178,143 |
J Fitz & Co Construction Services | 12/30/19 | $123,050 |
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 | $153,326 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $153,326 |
| Total Program Service Revenue | $6,522,040 |
| Investment income | $25,496 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $3,665 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,704,527 |
| 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. | $328,233 |
| Compensation of current officers, directors, key employees. | $328,233 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,024,912 |
| Pension plan accruals and contributions | $481 |
| Other employee benefits | $0 |
| Payroll taxes | $284,892 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $151,651 |
| 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 | $57,500 |
| Office expenses | $0 |
| Information technology | $116,448 |
| Royalties | $0 |
| Occupancy | $823,602 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $116,566 |
| Payments to affiliates | $244,188 |
| Depreciation, depletion, and amortization | $1,758,899 |
| Insurance | $401,888 |
| All other expenses | $0 |
| Total functional expenses | $7,231,869 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $787,983 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $327,483 |
| 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 | $101,948 |
| Net Land, buildings, and equipment | $16,915,996 |
| Investments—publicly traded securities | $1,512,886 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $477,172 |
| Total assets | $20,123,468 |
| Accounts payable and accrued expenses | $831,657 |
| Grants payable | $0 |
| Deferred revenue | $968,400 |
| 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 | $1,707,260 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $41,754,997 |
| Total liabilities | $45,262,314 |
| Net assets without donor restrictions | -$25,367,236 |
| Net assets with donor restrictions | $228,390 |
| 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 | $20,123,468 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Lathrop Community Inc has recieved totaling $1,000.
| Awarding Organization | Amount |
|---|---|
Religious Society Of Friends Foundation For The Aging Inc Langhorne, PA PURPOSE: COUNTRY STORE | $1,000 |
Endowment Analysis
| Beg. Balance | $1,394,856 |
| Earnings | $51,128 |
| Ending Balance | $1,445,984 |
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 |