Watson Memorial Home
- Assets
- $21.5m
- Revenue
- $1.2m
- Investments
- $20.4m
- Employees
- 0
- Location
- Warren, PA
- Founding
- 09/1938
- Data as of
- 12/2022
- EIN
- 25-0965602
Organization Overview
Watson Memorial Home is located in Warren, PA. The organization was established in 1938. According to its NTEE Classification (A80) the organization is classified as: Historical Organizations, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Watson Memorial Home 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 12/2022, Watson Memorial Home generated $1.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.8% each year. All expenses for the organization totaled $2.0m during the year ending 12/2022. While expenses have increased by 3.3% 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
WATSON MEMORIAL HOME PROVIDED SUSTENANCE, SHELTER, CLOTHING, MEDICAL ATTENTION AND A MONTHLY ALLOWANCE TO 26 ELDERLY WOMEN IN 2022.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ann Ferguson President | 1 | $0 | |
Raymond Pring Vice Preside | 1 | $0 | |
Dana Kubiak Treasurer | 1 | $0 | |
Kathryn Carlson Secretary | 1 | $0 | |
Susan Spangler Director | 1 | $0 | |
Gale Dyke Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $350 |
| Interest on Savings | $399 |
| Dividends & Interest | $499,966 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$149,920 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $803,099 |
| Total Revenue | $1,153,894 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $1,035,236 |
| Pension plans, employee benefits | $200,014 |
| Interest | $2,735 |
| Taxes | $22,749 |
| Depreciation | $44,394 |
| Occupancy | $117,952 |
| Travel, conferences, and meetings | $5,665 |
| Printing and publications | $0 |
| Other expenses | $455,463 |
| Total operating and administrative expenses | $2,043,184 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $2,043,184 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,091 |
| Savings and temporary cash investments | $548,510 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $916,071 |
| Net Land, buildings, and equipment | $492,403 |
| Other assets | $58,039 |
| Total assets | $21,521,334 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $231,665 |
| Other liabilities | $0 |
| Total liabilities | $231,665 |
Grants Awarded
Over the last fiscal year, Watson Memorial Home has awarded $350 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
GLADE TOWNSHIP VFD PURPOSE: CHARITABLE VFD | $100 |
PETERSON-BLICK FUNERAL HOME PURPOSE: MEMORIAL DONATION FOR CASTRO FUNERAL | $200 |
WARREN COUNTY HISTORICAL SOCIETY PURPOSE: DONATION | $50 |