Foster Senior Housing Inc
- Assets
- $1.4m
- Revenue
- $447.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Foster, RI
- Founding
- 06/1980
- Data as of
- 12/2021
- EIN
- 05-0384420
Organization Overview
Foster Senior Housing Inc is located in Foster, RI. The organization was established in 1980. 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. Foster Senior 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 12/2021, Foster Senior Housing Inc generated $447.7k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.5%) each year. All expenses for the organization totaled $458.3k during the year ending 12/2021. 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
OWN AND OPERATE A 30 UNIT ELDERLY COMPLEX UNDER USDA RURAL DEVELOPMENT GUIDELINES
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ENTITY OWNS AND OPERATES A GOVERNMENT SPONSORED, 30 UNIT ELDERLY HOUSING APARTMENT COMPLEX LOCATED IN FOSTER, RHODE ISLAND. THE ENTITY HAS A RENTAL ASSISTANCE CONTRACT WITH RURAL DEVELOPMENT WHICH PROVIDES FOR RENTAL AND INTEREST SUBSIDIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ralph Antonelli President | OfficerTrustee | 4 | $0 |
Denise Defranco Director | Trustee | 2 | $0 |
Mary Agnas Fennessey Director | Trustee | 2 | $0 |
Elwood Hopkins Director | Trustee | 2 | $0 |
Melanie Johnson Director | Trustee | 2 | $0 |
Paul Morrissey Treasurer | OfficerTrustee | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $312,615 |
| 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 | $312,615 |
| Total Program Service Revenue | $132,389 |
| Investment income | $2,696 |
| 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 | $447,700 |
| 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 | $26,328 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,559 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $318 |
| Advertising and promotion | $51 |
| Office expenses | $371 |
| 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 | $125,918 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $87,938 |
| Insurance | $16,485 |
| All other expenses | $30,130 |
| Total functional expenses | $458,279 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $72,395 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,537 |
| 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 | $3,140 |
| Net Land, buildings, and equipment | $960,614 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $361,795 |
| Total assets | $1,403,481 |
| Accounts payable and accrued expenses | $15,769 |
| 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 | $1,388,614 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $8,751 |
| Total liabilities | $1,413,134 |
| Net assets without donor restrictions | -$9,653 |
| 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 | $1,403,481 |