Seneca Towers Inc
- Assets
- $6.9m
- Revenue
- $3.4m
- Investments
- $0.0
- Employees
- 0
- Location
- Rochester, NY
- Founding
- 05/1969
- Data as of
- 03/2023
- EIN
- 16-0926430
Organization Overview
Seneca Towers Inc is located in Rochester, NY. The organization was established in 1969. 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. Seneca Towers 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 03/2023, Seneca Towers Inc generated $3.4m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 3.1% each year. All expenses for the organization totaled $3.2m during the year ending 03/2023. While expenses have increased by 1.4% per year over the past 4 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
TO PROVIDE HOUSING FACILITIES FOR AGED PERSONS OF LOW INCOME.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SENECA TOWERS, INC. WAS INCORPORATED FOR THE PURPOSE OF PROVIDING HOUSING FACILITIES, ON A NOT-FOR-PROFIT BASIS, FOR AGED PERSONS OF LOW INCOME WHO ARE RESIDENTS OF THE CITY OF ROCHESTER- 493 UNITS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
R Carlos Carballada Director | Trustee | 0 | $0 |
Carol Wheeler Director | Trustee | 0 | $0 |
Margaret J Hill President | OfficerTrustee | 2 | $0 |
Richard Mueller Chairman | OfficerTrustee | 0 | $0 |
James A Costanza Director | Trustee | 0 | $0 |
Louis M D'amato ESQ Vice President | OfficerTrustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $270,106 |
| 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 | $270,106 |
| Total Program Service Revenue | $3,065,187 |
| Investment income | $4,813 |
| 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 | $3,381,949 |
| 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 | $673,755 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $186,590 |
| Payroll taxes | $0 |
| Fees for services: Management | $326,831 |
| Fees for services: Legal | $6,117 |
| Fees for services: Accounting | $11,700 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $6,726 |
| Advertising and promotion | $41,126 |
| Office expenses | $3,479 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $404,104 |
| Travel | $83 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $117,051 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $514,292 |
| Insurance | $358,781 |
| All other expenses | $12,437 |
| Total functional expenses | $3,216,696 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,631,643 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $86,373 |
| 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 | $70,291 |
| Net Land, buildings, and equipment | $3,922,129 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $230,553 |
| Total assets | $6,940,989 |
| Accounts payable and accrued expenses | $2,020,328 |
| Grants payable | $0 |
| Deferred revenue | $59,533 |
| 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 | $5,357,467 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $239,773 |
| Total liabilities | $7,677,101 |
| Net assets without donor restrictions | -$736,112 |
| 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 | $6,940,989 |