House Of Loreto For Senior Citizens
- Assets
- $807.5k
- Revenue
- $2.5m
- Investments
- $0.0
- Employees
- 67
- Location
- Canton, OH
- Founding
- 03/1946
- Data as of
- 12/2022
- EIN
- 34-0757174
Organization Overview
House Of Loreto For Senior Citizens is located in Canton, OH. The organization was established in 1946. 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 12/2022, House Of Loreto For Senior Citizens employed 67 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. House Of Loreto For Senior Citizens 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, House Of Loreto For Senior Citizens generated $2.5m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (5.9%) each year. All expenses for the organization totaled $1.9m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (11.7%) per year over the past 4 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
MINISTRY OF CARE OF THE AGED BY THE RELIGIOUS COMMUNITY OF SISTERS OF THE CONGREGATION OF THE DIVINE SPIRIT OF THE ROMAN CATHOLIC CHURCH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NURSING HOME FOR OLDER AMERICANS WHICH SERVED 34 RESIDENTS 10,796 DAYS OF NURSING AND PALLIATIVE CARE ASSISTED BY $371,170 IN CONTRIBUTED SERVICES BY THE 15 SISTERS OF THE CONGREGATION OF THE DIVINE SPIRIT IN MINISTRY IN THE HOME. THE FACILITY PROVIDED $188,109 IN UNREIMBURSED CHARITY CARE FOR RESIDENTS WHO WERE UNABLE TO PAY THE FULL ROOM AND BOARD IN 2022.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
None Current Directors | Trustee | 0 | $0 |
None Current Trustees | Trustee | 0 | $0 |
Sister Michele Beauseigneur Cds President | Officer | 56 | $0 |
Sister Mary Ellen Martin Cds Vice-President | Officer | 56 | $0 |
Sister Marilee Heuer Cds Administrator | Officer | 56 | $0 |
Sister Janet Harold Cds Co-Administrator/treasurer | Officer | 56 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $5,000 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $719,080 |
| All other contributions, gifts, grants, and similar amounts not included above | $184,041 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $908,121 |
| Total Program Service Revenue | $1,538,290 |
| Investment income | $15,954 |
| 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 | $2,462,365 |
| 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 | $1,126,948 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $63,920 |
| Payroll taxes | $79,306 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $65,017 |
| Advertising and promotion | $0 |
| Office expenses | $20,054 |
| Information technology | $6,866 |
| 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 | $88,885 |
| Insurance | $129,440 |
| All other expenses | $0 |
| Total functional expenses | $1,907,059 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,580 |
| Savings and temporary cash investments | $204,035 |
| 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 | $601,931 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $807,546 |
| Accounts payable and accrued expenses | $0 |
| 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 | $82,574 |
| Total liabilities | $82,574 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $724,972 |
| 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 | $807,546 |