Elderlife Inc
- Assets
- $3.0m
- Revenue
- $2.5m
- Investments
- $0.0
- Employees
- 22
- Location
- Utica, NY
- Founding
- 03/1999
- Data as of
- 06/2024
- EIN
- 16-1557404
Organization Overview
Elderlife Inc is located in Utica, NY. The organization was established in 1999. According to its NTEE Classification (P81) the organization is classified as: Senior Centers, under the broad grouping of Human Services and related organizations. As of 06/2024, Elderlife Inc employed 22 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Elderlife 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 06/2024, Elderlife Inc generated $2.5m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 17.1% each year . All expenses for the organization totaled $1.1m during the year ending 06/2024. While expenses have increased by 5.1% 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE PROGRAMS AND SERVICES TO INDIVIDUALS 50 YEARS AND OLDER, EMPOWERING THEM TO LIVE HEALTHY AND VIBRANT LIVES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SOCIAL DEVELOPMENT, EDUCATION AND INFORMATIONAL SERVICES FOR SENIORS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Phyllis Ellis Director | Trustee | 5 | $0 |
Lucretia Hunt Director | Trustee | 5 | $0 |
Edward Jackson Director | Trustee | 5 | $0 |
David Short Director | Trustee | 5 | $0 |
Michele Kohl Director | Trustee | 5 | $0 |
Karen Teachout Director | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $35,931 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,528,270 |
| All other contributions, gifts, grants, and similar amounts not included above | $157,292 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,721,493 |
| Total Program Service Revenue | $814,944 |
| Investment income | $2,595 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $961 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,541,585 |
| 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 | $460,570 |
| Pension plan accruals and contributions | $7,936 |
| Other employee benefits | $0 |
| Payroll taxes | $54,974 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $14,733 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $10,989 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $219,527 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $13,573 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $45,645 |
| Insurance | $24,236 |
| All other expenses | $5,302 |
| Total functional expenses | $1,061,253 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $773,683 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $304,051 |
| 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 | $8,121 |
| Net Land, buildings, and equipment | $1,919,085 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,004,940 |
| Accounts payable and accrued expenses | $637,650 |
| 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 | $0 |
| Total liabilities | $637,650 |
| Net assets without donor restrictions | $2,350,388 |
| Net assets with donor restrictions | $16,902 |
| 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 | $3,004,940 |