Casa Farnese Inc
- Assets
- $16.8m
- Revenue
- $4.1m
- Investments
- $0.0
- Employees
- 11
- Location
- Philadelphia, PA
- Founding
- 10/1968
- Data as of
- 12/2021
- EIN
- 23-1668087
Organization Overview
Casa Farnese Inc is located in Philadelphia, PA. The organization was established in 1968. 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 12/2021, Casa Farnese Inc employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Casa Farnese 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, Casa Farnese Inc generated $4.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.3% each year. All expenses for the organization totaled $3.6m during the year ending 12/2021. While expenses have increased by 2.3% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE LOW AND MODERATE INCOME HOUSING TO 288 SENIOR CITIZENS, THROUGH APARTMENT RENTALS
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PROVIDES LOW TO MODERATE INCOME HOUSING T0 288 SENIOR CITIZENS IN ACCORDANCE WITH HUD GUIDELINES.DURING 2021, THE ORGANIZATION COMPLETED INSTALLATION OF A FIRE PROTECTION SYSTEM WITHIN THE BUILDING.
THE ORGANIZATION PROVIDES A COORDINATOR OF SERVICES TO PROVIDE VARIOUS SOCIAL SERVICES TO RESIDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Annette Rizzo President | OfficerTrustee | 3 | $0 |
Joseph H Jacovini Esquire Chairman | OfficerTrustee | 3 | $0 |
David Jacovini Treasurer | OfficerTrustee | 0.3 | $0 |
David P Dalesandro Esquire Secretary | OfficerTrustee | 0.3 | $0 |
Dina Della Ducata Board Member | Trustee | 0.3 | $0 |
Eileen M Coggins Board Member | Trustee | 0.3 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Oliver Sprinkler Company Inc Sprinkler Project | 12/30/21 | $358,033 |
Deltabjds Inc Contracting Services | 12/30/21 | $116,694 |
Tom Barnabei General Contracting Contracting Services | 12/30/21 | $105,635 |
Ops Security Group Security Services | 12/30/21 | $205,238 |
River Mechanical Services Inc Contracting Services | 12/30/21 | $150,153 |
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 | $3,957,881 |
| Investment income | $306 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $114,500 |
| 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 | $4,101,175 |
| 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 | $518,931 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $121,794 |
| Payroll taxes | $40,463 |
| Fees for services: Management | $208,866 |
| Fees for services: Legal | $55,327 |
| Fees for services: Accounting | $69,563 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $521,003 |
| Advertising and promotion | $5,078 |
| Office expenses | $44,551 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $328,483 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $422,598 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $916,245 |
| Insurance | $158,502 |
| All other expenses | $0 |
| Total functional expenses | $3,594,890 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $587,110 |
| Savings and temporary cash investments | $1,862,885 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $44,316 |
| 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 | $127,807 |
| Net Land, buildings, and equipment | $14,087,373 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $118,733 |
| Total assets | $16,828,224 |
| Accounts payable and accrued expenses | $366,377 |
| Grants payable | $0 |
| Deferred revenue | $20,697 |
| 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 | $10,296,102 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $118,733 |
| Total liabilities | $10,801,909 |
| Net assets without donor restrictions | $6,026,315 |
| 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 | $16,828,224 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Casa Farnese Inc has recieved totaling $25,000.
| Awarding Organization | Amount |
|---|---|
Raynier Institute & Foundation Wilmington, DE PURPOSE: GENERAL & UNRESTRICTED | $25,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Moravian Village Of Bethlehem Bethlehem, PA | $74,343,954 | $19,911,429 |
Wesleyan Senior Care Inc Elyria, OH | $38,781,786 | $23,501,325 |
Homewood At Williamsport Md Inc Williamsport, MD | $33,819,654 | $18,842,651 |
Community Healthcare Realty Inc Toms River, NJ | $8,596,047 | $19,288,515 |
Sarah A Reed Home Erie, PA | $16,706,184 | $19,190,049 |
Colgate Palmolive Post Retirement Veba Tr New York, NY | $1,964,886 | $6,599,849 |
Williamsport Home Williamsport, PA | $21,816,206 | $17,908,824 |
Orchard Park Ccrc Inc Orchard Park, NY | $79,217,375 | $18,334,727 |
Seniorcare Montchanin Inc Hamilton, NJ | $10,084,234 | $15,044,151 |
Firemens Association Of The State Of New York Albany, NY | $46,544,668 | $18,019,275 |
Holy Family Senior Living Bethlehem, PA | $8,945,725 | $16,667,938 |
Pitman Manor Inc Neptune, NJ | $6,381,281 | $14,956,021 |