Cedars Elderly Home Inc
- Assets
- $2.3m
- Revenue
- $456.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Methuen, MA
- Founding
- 09/2003
- Data as of
- 12/2021
- EIN
- 26-0057247
Organization Overview
Cedars Elderly Home Inc is located in Methuen, MA. The organization was established in 2003. 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. Cedars Elderly Home 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, Cedars Elderly Home Inc generated $456.1k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.4% each year. All expenses for the organization totaled $525.2k during the year ending 12/2021. While expenses have increased by 1.6% 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
TO PROVIDE HOUSING TO LOW-INCOME ELDERLY INDIVIDUALS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
31 APARTMENT UNITS RENTED TO LOW-INCOME ELDERLY INDIVIDUALS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christine Touma-Conway President | OfficerTrustee | 5 | $0 |
Paul Boshar Secretary | OfficerTrustee | 1 | $0 |
Carol Mcgravey Treasurer | OfficerTrustee | 5 | $0 |
David Beshara Director (as Of 10/21) | Trustee | 1 | $0 |
Robert Haffty Director | Trustee | 1 | $0 |
Steven Kfoury Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $290,279 |
| 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 | $290,279 |
| Total Program Service Revenue | $160,059 |
| Investment income | $90 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $456,128 |
| 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 | $36,229 |
| Fees for services: Legal | $5,788 |
| Fees for services: Accounting | $21,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $175,102 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $10,050 |
| Royalties | $0 |
| Occupancy | $165,636 |
| 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 | $101,340 |
| Insurance | $0 |
| All other expenses | $9,537 |
| Total functional expenses | $525,182 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $43,360 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $655 |
| 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 | $3,726 |
| Net Land, buildings, and equipment | $2,107,659 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $148,560 |
| Total assets | $2,303,960 |
| Accounts payable and accrued expenses | $71,277 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $13,761 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $3,788,200 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $3,873,238 |
| Net assets without donor restrictions | -$1,569,278 |
| 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 | $2,303,960 |
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|---|---|---|
Newbridge On The Charles Inc Boston, MA | $302,355,064 | $54,466,975 |
Old Colony Elder Services Inc Brockton, MA | $21,708,151 | $57,499,133 |
Masonicare Health Center Wallingford, CT | $30,328,856 | $51,314,223 |
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New York Armenian Home Inc Forest Hills, NY | $920,237 | $91,924 |
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Carleton Willard Homes Inc Bedford, MA | $84,483,009 | $38,647,048 |
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