Beneficent House
- Assets
- $7.8m
- Revenue
- $2.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Providence, RI
- Founding
- 06/1966
- Data as of
- 12/2021
- EIN
- 05-0311339
Organization Overview
Beneficent House is located in Providence, RI. The organization was established in 1966. 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. Beneficent House 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 12/2021, Beneficent House generated $2.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.9% each year. All expenses for the organization totaled $2.3m during the year ending 12/2021. While expenses have increased by 0.2% 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 PROVIDE LOW TO MODERATE COST HOUSING IN THE PROVIDENCE AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED LOW TO MODERATE COST HOUSING TO LOW TO MODERATE INCOME FAMILIES
PROVIDE LOW TO MODERATE COST HOUSING TO LOW TO MODERATE INCOME FAMILIES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mrs Jay Fralis President | OfficerTrustee | $0 | |
Terry Bontrager Member | OfficerTrustee | $0 | |
Jason Iacobucci Vice Preside | OfficerTrustee | $0 | |
Irene Hope Sec./ Asst T | OfficerTrustee | $0 | |
Rev Dennis Knight Treasurer | OfficerTrustee | $0 | |
Kevin Nelson Asst. Secret | OfficerTrustee | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $2,488,030 |
| Investment income | $14,010 |
| 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 | $2,521,540 |
| 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 | $331,125 |
| Fees for services: Legal | $10,854 |
| Fees for services: Accounting | $6,229 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $8,683 |
| Office expenses | $34,976 |
| 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 | $168,281 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $456,307 |
| Insurance | $95,091 |
| All other expenses | $505,326 |
| Total functional expenses | $2,291,455 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $465,814 |
| Savings and temporary cash investments | $3,088,171 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $10,546 |
| 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 | $4,096 |
| Net Land, buildings, and equipment | $4,010,739 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $32,924 |
| Other assets | $179,003 |
| Total assets | $7,791,293 |
| Accounts payable and accrued expenses | $49,241 |
| 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 | $2,604,273 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $564,578 |
| Total liabilities | $3,218,092 |
| Net assets without donor restrictions | $4,573,201 |
| 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 | $7,791,293 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Christopher House Inc Worcester, MA | $11,659,464 | $17,133,392 |
Ascentria Care Alliance Inc West Brookfield, MA | $28,862,438 | $18,232,969 |
Overlook Communities Inc Charlton, MA | $31,731,503 | $14,000,337 |
Alliance Health Of Massachusetts Inc Southborough, MA | $12,196,543 | $13,916,904 |
Glenmeadow Inc Longmeadow, MA | $50,902,339 | $16,994,268 |
Alliance Health Of Southeastern Massachusetts Inc Southborough, MA | $17,238,136 | $13,319,734 |
Holyoke Retirement Community Inc Pittsfield, MA | $12,240,165 | $13,296,777 |
2life Communities Inc Brighton, MA | $57,717,629 | $7,095,673 |
Elderly Housing Management Inc North Haven, CT | $2,357,138 | $12,461,730 |
Pittsfield Management Systems Inc Pittsfield, MA | $24,200,908 | $14,144,809 |
Hrca Housing For Elderly Inc Boston, MA | $19,826,495 | $8,028,350 |
2life Communities Services Inc Brighton, MA | $14,714,646 | $15,464,952 |