Maurice Schwartz Towers Incorporated
- Assets
- $4.4m
- Revenue
- $688.9k
- Investments
- $0.0
- Employees
- 4
- Location
- Auburn, NY
- Founding
- 08/1992
- Data as of
- 03/2022
- EIN
- 16-0997888
Organization Overview
Maurice Schwartz Towers Incorporated is located in Auburn, NY. The organization was established in 1992. 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. As of 03/2022, Maurice Schwartz Towers Incorporated employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Maurice Schwartz Towers Incorporated 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 03/2022, Maurice Schwartz Towers Incorporated generated $688.9k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.9%) each year. All expenses for the organization totaled $636.1k during the year ending 03/2022. As we would expect to see with falling revenues, expenses have declined by (1.1%) per year over the past 7 years. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
ORGANIZED FOR THE PURPOSE OF PROVIDING HOUSING AND AUXILIARY FACILITIES TO LOW INCOME ELDERLY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATED A 140-UNIT APARTMENT BUILDING FOR LOW INCOME ELDERLY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Knaul President | OfficerTrustee | 1 | $0 |
Steven Moolin Vice President | OfficerTrustee | 1 | $0 |
Thomas Higgins Secretary/treasurer | OfficerTrustee | 1 | $0 |
Tim Carr Director | Trustee | 1 | $0 |
Dan Bouley Director | Trustee | 1 | $0 |
Sharon Desantis Director | Trustee | 1 | $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 | $684,987 |
| Investment income | $3,944 |
| 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 | $688,931 |
| 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 | $164,362 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $17,496 |
| Payroll taxes | $13,602 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,040 |
| Fees for services: Accounting | $11,520 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,259 |
| Advertising and promotion | $1,491 |
| Office expenses | $17,211 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $148,421 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $135,096 |
| Insurance | $58,569 |
| All other expenses | $62,046 |
| Total functional expenses | $636,113 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $221,770 |
| Savings and temporary cash investments | $2,522 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $30,805 |
| Net Land, buildings, and equipment | $1,515,041 |
| Investments—publicly traded securities | $1,381,703 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,225,045 |
| Total assets | $4,376,886 |
| Accounts payable and accrued expenses | $4,844 |
| 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 | $53,963 |
| Total liabilities | $58,807 |
| Net assets without donor restrictions | $4,318,079 |
| 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 | $4,376,886 |
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