Preachers Aid Society Of New England
- Assets
- $55.3m
- Revenue
- $3.1m
- Investments
- $14.0m
- Employees
- 12
- Location
- Wells, ME
- Founding
- 10/1974
- Data as of
- 12/2021
- EIN
- 04-6037997
Organization Overview
Preachers Aid Society Of New England is located in Wells, ME. The organization was established in 1974. According to its NTEE Classification (Q33) the organization is classified as: International Relief, under the broad grouping of International, Foreign Affairs & National Security and related organizations. As of 12/2021, Preachers Aid Society Of New England employed 12 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Preachers Aid Society Of New England 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, Preachers Aid Society Of New England generated $3.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.3% each year. All expenses for the organization totaled $1.7m during the year ending 12/2021. While expenses have increased by 0.1% 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE SUPPORT AND NURTURE FOR THE PURPOSE OF ENRICHING THE QUALITY OF LIFE FOR MINISTERS.
Describe the Organization's Program Activity:
PREACHERS' AID SOCIETY OF NEW ENGLAND MAINTAINS A VIGOROUS PROGRAM OF SERVICE TO CLERGY FAMILIES, DEMONSTRATING A MAJOR COMMITMENT TO RETIREES AND THEIR WELFARE. PROGRAMS AND SERVICES FOR RETIREES INCLUDE IN-HOME VISITATION, EDUCATIONAL PROGRAM SUPPORT, EMERGENCY ASSISTANCE, TENDING THE FIRE, RETIREE HOUSING, HIGHER EDUCATION LOAN PROGRAM, RETIREE GREEN LOAN PROGRAM, BABY GRANTS, RETIREE HEALTH CARE, OCCASIONAL CLERGY GATHERINGS, RETIREE METHODENT PROGRAM, TAYLOR FELLOWSHIP AWARD, LIFETIME OF DICIPLESHIP AWARD.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Wesley E Palmer Executive Director | Officer | 40 | $97,567 |
Paul Parks Jr President | OfficerTrustee | 2 | $0 |
Charles Stewart III PHD Treasurer Of The Corporation | OfficerTrustee | 2 | $0 |
Nancy Vaccaro Secretary Of The Corporation | OfficerTrustee | 2 | $0 |
Laurie Hezekiah-Cox Second Vice President | OfficerTrustee | 2 | $0 |
Janice Schuster Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Foglio Inc Excavation Contractor | 12/30/20 | $214,270 |
Patco Constructions Contractor And Construction | 12/30/20 | $418,102 |
Cibc Private Wealth Management Investment Management | 12/30/20 | $126,919 |
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 | $249,599 |
| Noncash contributions included in lines 1a–1f | $10,031 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $249,599 |
| Total Program Service Revenue | $467,391 |
| Investment income | $599,033 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,766,868 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,082,891 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $6,000 |
| Grants and other assistance to domestic individuals. | $102,235 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $165,515 |
| Compensation of current officers, directors, key employees. | $31,564 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $266,692 |
| Pension plan accruals and contributions | $17,286 |
| Other employee benefits | $2,858 |
| Payroll taxes | $49,272 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,184 |
| Fees for services: Accounting | $35,278 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $130,790 |
| Fees for services: Other | $0 |
| Advertising and promotion | $414 |
| Office expenses | $37,546 |
| Information technology | $8,829 |
| Royalties | $0 |
| Occupancy | $337,971 |
| Travel | $15,061 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,788 |
| Interest | $68,320 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $450,462 |
| Insurance | $38,286 |
| All other expenses | $0 |
| Total functional expenses | $1,748,525 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $366,052 |
| Savings and temporary cash investments | $3,149,239 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $23,298 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $255,214 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $20,990 |
| Net Land, buildings, and equipment | $11,176,697 |
| Investments—publicly traded securities | $24,659,474 |
| Investments—other securities | $14,025,102 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,582,657 |
| Total assets | $55,258,723 |
| Accounts payable and accrued expenses | $28,543 |
| 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 | $30,568 |
| Total liabilities | $59,111 |
| Net assets without donor restrictions | $43,029,453 |
| Net assets with donor restrictions | $12,170,159 |
| 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 | $55,258,723 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Preachers Aid Society Of New England has recieved totaling $2,796.
| Awarding Organization | Amount |
|---|---|
William Bowden Trust Dallas, TX PURPOSE: UNRESTRICTED GENERAL | $2,796 |
Endowment Analysis
| Beg. Balance | $35,573,992 |
| Earnings | $4,730,027 |
| Other Expense | $1,623,018 |
| Ending Balance | $38,681,001 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Water Project Inc Concord, NH | $8,538,789 | $7,242,242 |
Safe Passage New Gloucester, ME | $4,982,919 | $3,813,966 |
Preachers Aid Society Of New England Wells, ME | $55,258,723 | $3,082,891 |
Education For All Children Portsmouth, NH | $1,812,734 | $1,448,874 |
Good Soil Partners Inc North Hampton, NH | $533,130 | $868,367 |
Raise The Children International Portsmouth, NH | $848 | $326,643 |
Bannu Inc Berlin, NH | $486,265 | $560,557 |
Global Benefit Laconia, NH | $2,492 | $481,271 |
Galgos Del Sol Usa Lebanon, NH | $970,759 | $1,198,284 |
Friends Of Colegio Moriah Houlton, ME | $49,394 | $0 |
Kids Ark-Usa Peterborough, NH | $23,626 | $0 |
Epilogos Charities Inc Nashua, NH | $270,430 | $0 |