Prescor Inc
- Assets
- $4.4m
- Revenue
- $500.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Rochester, NY
- Founding
- 08/1990
- Data as of
- 12/2021
- EIN
- 22-3035849
Organization Overview
Prescor Inc is located in Rochester, NY. The organization was established in 1990. According to its NTEE Classification (P75) the organization is classified as: Supportive Housing for Older Adults, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Prescor 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, Prescor Inc generated $500.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (6.5%) each year. All expenses for the organization totaled $300.8k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (7.1%) 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
WE PROVIDE HIGH QUALITY SERVICES FROM SKILLED NURSING AND RESTORATIVE CARE TO HOUSING, ASSISTED LIVING AND COMMUNITY BASED WELLNESS PROGRAMS. WE ARE COMMITTED TO MEETING EACH INDIVIDUAL'S NEEDS, IN A CULTURALLY COMPETENT MANNER, SUPPORTING FAMILY AND LOVED ONES THROUGH TRANSITIONS, AND FULFILLING OUR PLEDGE....AT EPISCOPAL SENIORLIFE COMMUNITIES YOU ARE ALWAYS SOMEONE SPECIAL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PRESCOR OWNS THE BUILDING AND PROPERTY LEASED TO PRESBYTERIAN RESIDENCE CENTER CORPORATION D/B/A VALLEY MANOR APARTMENTS, WHICH PROVIDES HOUSING AND SUPPORT SERVICES TO SENIORS.
PRESCOR HOLDS AND MAINTAINS INVESTMENT ASSETS ASSOCIATED WITH THE BUILDING MORTGAGE COLLATERAL AND A POOLED LIFE INCOME FUND SUPPORTING VALLEY MANOR APARTMENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
J Barclay Carpenter Chairman | OfficerTrustee | 1 | $0 |
Loren J Ranaletta President/ceo | OfficerTrustee | 1 | $0 |
John Barr Vice Chair | OfficerTrustee | 1 | $0 |
Michael King Secretary/treasurer | OfficerTrustee | 1 | $0 |
Lisa Marcello Executive Vp/cfo | Officer | 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 | $412,300 |
| Investment income | $52,530 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $36,002 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $500,832 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $47,751 |
| 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 | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,977 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $7,179 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| 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 | $218,434 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $22,641 |
| Insurance | $0 |
| All other expenses | $2,799 |
| Total functional expenses | $300,781 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $11,502 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $1,358,378 |
| Investments—publicly traded securities | $2,228,323 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $841,875 |
| Other assets | $8,418 |
| Total assets | $4,448,496 |
| Accounts payable and accrued expenses | $17,696 |
| 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 | $4,077,135 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $56,245 |
| Total liabilities | $4,151,076 |
| Net assets without donor restrictions | $289,002 |
| Net assets with donor restrictions | $8,418 |
| 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 | $4,448,496 |
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