Clare Towers Inc
- Assets
- $2.1m
- Revenue
- $2.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Milwaukee, WI
- Founding
- 03/1946
- Data as of
- 06/2024
- EIN
- 39-1356305
Organization Overview
Clare Towers Inc is located in Milwaukee, WI. The organization was established in 1946. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Clare Towers 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 06/2024, Clare Towers Inc generated $2.0m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 2.4% each year. All expenses for the organization totaled $1.7m during the year ending 06/2024. 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE LOW INCOME HOUSING FOR PERSONS WITH PHYSICAL DISABILITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CLARE TOWERS, INC. IS A SERVICE CORPORATION FOR THE PURPOSE OF PROVIDING LOW-INCOME HOUSING FACILITIES AND SERVICES FOR PERSONS WITH PHYSICAL DISABILITIES IN COOPERATION WITH WHEDA AND HUD. ST CLARE MANAGEMENT MANAGES EACH BUILDING IN COMPLIANCE WITH THEIR MISSION AND VALUES STATEMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sister Helen Butzler President | OfficerTrustee | 1 | $0 |
Sister Ruth Ann Iwanski Secretary | OfficerTrustee | 1 | $0 |
Daniel Tretow Treasurer | OfficerTrustee | 1 | $0 |
Brent Stork Director | Trustee | 1 | $0 |
Briena Jacobs Director | Trustee | 1 | $0 |
Dr Margaret Regner Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ron & Russ Floorings Security Services | 6/29/23 | $138,005 |
St Clare Management Reimbursement Of Expenses | 6/29/23 | $386,762 |
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 | $1,955,297 |
| Investment income | $1,096 |
| 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 | $1,971,651 |
| 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 | $448,092 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $99,243 |
| Payroll taxes | $40,441 |
| Fees for services: Management | $88,735 |
| Fees for services: Legal | $16,922 |
| Fees for services: Accounting | $42,211 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $257 |
| Office expenses | $12,052 |
| Information technology | $18,651 |
| Royalties | $0 |
| Occupancy | $154,280 |
| Travel | $10,891 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $209,504 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $113,061 |
| Insurance | $60,473 |
| All other expenses | $2,149 |
| Total functional expenses | $1,718,618 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $62,726 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $96,634 |
| 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 | $1,169,426 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $723,579 |
| Total assets | $2,052,365 |
| Accounts payable and accrued expenses | $339,683 |
| Grants payable | $0 |
| Deferred revenue | $5,931 |
| 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 | $5,593,197 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $44,599 |
| Total liabilities | $5,983,410 |
| Net assets without donor restrictions | -$3,931,045 |
| 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 | $2,052,365 |