Presbyterian Home At 58th Street
- Assets
- $9.2m
- Revenue
- $278.8k
- Investments
- $10.8k
- Employees
- 0
- Location
- Lafayette Hill, PA
- Founding
- 12/1934
- Data as of
- 12/2021
- EIN
- 23-1352513
Organization Overview
Presbyterian Home At 58th Street is located in Lafayette Hill, PA. The organization was established in 1934. According to its NTEE Classification (E91) the organization is classified as: Nursing Facilities, under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Presbyterian Home At 58th Street 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, Presbyterian Home At 58th Street generated $278.8k 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 (4.1%) each year. All expenses for the organization totaled $22.6k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (28.1%) 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
TO PROVIDE SUPPORT TO INCREASE SENIOR LIVING OPPORTUNITIES IN THE PHILADELPHIA REGION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ON SEPTEMBER 15, 2011, THE SKILLED NURSING FACILITY WAS CLOSED. THROUGH OCTOBER 10, 2017, FUNDING WAS USED TO MAINTAIN THE EXISTING BUILDING AS THE ORGANIZATION ASSESSED HOW TO ASSIST THE NEEDIEST AND MOST VULNERABLE MEMBERS OF SOUTHWEST PHILADELPHIA IN A WAY THAT WAS CONSISTENT WITH THE AFFORDABLE HOUSING COMMUNITIES ON THE 58TH STREET CAMPUS. ON OCTOBER 11, 2017, THE LAND AND SKILLED NURSING BUILDING WERE SOLD TO WITHERSPOON SENIOR APARTMENTS, LP, AN AFFILIATE, TO CONSTRUCT A 60 APARTMENT LOW-INCOME HOUSING TAX CREDIT COMMUNITY ON THIS SITE. THE ORGANIZATION CONTINUES TO PROVIDE SUPPORT TO HUMANGOOD EAST, THE PARENT ORGANIZATION, AND THE SUBSIDIARIES OF THE PARENT TO CONTINUE TO MEET THE HOUSING NEEDS OF SENIORS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alan Griffith Vice Chair | OfficerTrustee | 0.1 | $0 |
Randall Stamper Chair | OfficerTrustee | 0.2 | $0 |
H Declan Brown Secretary | OfficerTrustee | 0.1 | $0 |
John H Cochrane III President/chief Executive Officer | Officer | 0.2 | $0 |
Fleming Meng Chief Information Officer | Officer | 0.2 | $0 |
Bethany Ghassemi Chief Legal Counsel | Officer | 0.2 | $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 | $0 |
| Investment income | $209,868 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $68,628 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $278,849 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $10,596 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $424 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $6,552 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $5,042 |
| 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 | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $22,614 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,495,998 |
| Savings and temporary cash investments | $1,273,374 |
| 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 | $3,796,901 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $2,206,712 |
| Investments—other securities | $10,780 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $387,568 |
| Total assets | $9,171,333 |
| Accounts payable and accrued expenses | $24,825 |
| 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 | $48,390 |
| Total liabilities | $73,215 |
| Net assets without donor restrictions | $8,426,693 |
| Net assets with donor restrictions | $671,425 |
| 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 | $9,171,333 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Presbyterian Home At 58th Street has recieved totaling $1,409.
| Awarding Organization | Amount |
|---|---|
George A Garrett Item 10 Pittsburgh, PA PURPOSE: GENERAL SUPPORT | $1,409 |
Endowment Analysis
| Beg. Balance | $629,455 |
| Earnings | $41,970 |
| Ending Balance | $671,425 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Orchard Manor Grove City, PA | $8,380,993 | $11,061,466 |
Concordia Of Monroeville Monroeville, PA | $14,124,064 | $9,879,230 |
Bronxwood Home For The Aged Inc Bronx, NY | $8,611,345 | $8,452,055 |
Bethany Nursing Home And Health Related Facility Inc Horseheads, NY | $9,235,158 | $10,577,157 |
Bryn Mawr Terrace Bryn Mawr, PA | $9,525,391 | $7,813,669 |
Pendleton Manor Inc Franklin, WV | $2,799,029 | $11,584,753 |
Community Skilled Nursing Centre Warren, OH | $9,757,412 | $10,199,793 |
Holzer Senior Care Center Bidwell, OH | $9,964,794 | $9,770,856 |
Monroe Community Health Services Toledo, OH | $13,387,790 | $8,758,598 |
Community Healthcare Operator Inc Windber, PA | $7,449,324 | $11,021,812 |
Clarview Rest Home Inc Sligo, PA | $11,252,883 | $9,978,055 |
Margaretville Nursing Home Inc Margaretville, NY | $4,523,054 | $6,237,023 |