Mansfield Retirement Community Inc
- Assets
- $6.2m
- Revenue
- $2.4m
- Investments
- $0.0
- Employees
- 0
- Location
- North Haven, CT
- Founding
- 10/1978
- Data as of
- 06/2023
- EIN
- 06-0984952
Organization Overview
Mansfield Retirement Community Inc is located in North Haven, CT. The organization was established in 1978. 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. Mansfield Retirement 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 06/2023, Mansfield Retirement Community Inc generated $2.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.6% each year. All expenses for the organization totaled $2.6m during the year ending 06/2023. While expenses have increased by 3.2% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
LOW INCOME ELDERLY HOUSING - 100 UNITS
Describe the Organization's Program Activity:
Part 3 - Line 4a
LOW INCOME ELDERLY HOUSING - 100 UNITS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cynthia Myers President | OfficerTrustee | 2 | $0 |
Richard Dibala Treasurer | OfficerTrustee | 2 | $0 |
Jo Ann Douda Secretary | OfficerTrustee | 2 | $0 |
Jeffery Asher Director | Trustee | 2 | $0 |
James Fidanza Director | Trustee | 2 | $0 |
Patricia Hempel Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Us Security Assoc Security | 6/29/19 | $106,939 |
Elderly Housing Management Inc Management | 6/29/19 | $103,818 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,561,849 |
| All other contributions, gifts, grants, and similar amounts not included above | $26,600 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,588,449 |
| Total Program Service Revenue | $763,256 |
| Investment income | $39,462 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $7,310 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,398,477 |
| 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 | $346,135 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $55,247 |
| Payroll taxes | $27,773 |
| Fees for services: Management | $114,866 |
| Fees for services: Legal | $240 |
| Fees for services: Accounting | $17,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $495 |
| Office expenses | $52,586 |
| 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 | $6,124 |
| Interest | $82,710 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $533,532 |
| Insurance | $106,017 |
| All other expenses | $48,993 |
| Total functional expenses | $2,552,199 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $246,484 |
| Savings and temporary cash investments | $792,559 |
| Pledges and grants receivable | $227,178 |
| Accounts receivable, net | $331 |
| 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 | $74,258 |
| Net Land, buildings, and equipment | $4,078,202 |
| Investments—publicly traded securities | $722,827 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $90,728 |
| Other assets | $0 |
| Total assets | $6,232,567 |
| Accounts payable and accrued expenses | $197,480 |
| Grants payable | $0 |
| Deferred revenue | $3,296 |
| 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 | $2,318,188 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $46,045 |
| Total liabilities | $2,565,009 |
| Net assets without donor restrictions | $1,931,847 |
| Net assets with donor restrictions | $1,735,711 |
| 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 | $6,232,567 |