Luella Hannan Memorial Home
- Assets
- $19.4m
- Revenue
- $1.3m
- Investments
- $14.7m
- Employees
- 0
- Location
- Detroit, MI
- Founding
- 08/1935
- Data as of
- 12/2023
- EIN
- 38-1358386
Organization Overview
Luella Hannan Memorial Home is located in Detroit, MI. The organization was established in 1935. 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. Luella Hannan 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 12/2023, Luella Hannan Memorial Home generated $1.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (7.9%) each year. All expenses for the organization totaled $1.7m during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (5.8%) per year over the past 9 years. 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
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDES SUPPORT TO THE HANNAN CENTER, WHICH OPERATES A SENIOR SERVICE CENTER AND CONDUCTS PROGRAMS FOR SENIORS PURSUANT TO INTERNAL REVENUE SERVICE RULING DATED MARCH 12, 1997.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Vincent Tilford Executive Director | 20 | $158,252 | |
Deborah Brouwer President | 0.5 | $0 | |
Thomas Jankowski Vice-President | 0.5 | $0 | |
Lenora Hardy Foster Treasurer | 0.5 | $0 | |
Marcia Baum Secretary | 0.5 | $0 | |
Larry Bryant Trustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Advanced Lighting & Sound | 12/30/21 | $55,457 |
Security 101 | 12/30/21 | $55,138 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $553,340 |
| Interest on Savings | $0 |
| Dividends & Interest | $351,189 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $364,032 |
| Capital Gain Net Income | $364,032 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,268,561 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $158,252 |
| Other employee salaries and wages | $950,192 |
| Pension plans, employee benefits | $244,282 |
| Interest | $0 |
| Taxes | $84,368 |
| Depreciation | $193,237 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $1,716,340 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $1,716,340 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $58,947 |
| Savings and temporary cash investments | $412,811 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $32,663 |
| 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 | $32,137 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $10,797,005 |
| Net Land, buildings, and equipment | $4,174,334 |
| Other assets | $18,829 |
| Total assets | $19,427,649 |
| Accounts payable and accrued expenses | $208,139 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $3,582,949 |
| Other liabilities | $151,034 |
| Total liabilities | $3,942,122 |