Catholic Eldercare Community Foundation Inc
- Assets
- $16.1m
- Revenue
- $3.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Minneapolis, MN
- Founding
- 12/1993
- Data as of
- 09/2021
- EIN
- 41-1756772
Organization Overview
Catholic Eldercare Community Foundation Inc is located in Minneapolis, MN. The organization was established in 1993. According to its NTEE Classification (T31) the organization is classified as: Community Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Catholic Eldercare Community Foundation 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 09/2021, Catholic Eldercare Community Foundation Inc generated $3.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.7% each year. All expenses for the organization totaled $2.1m during the year ending 09/2021. While expenses have increased by 0.2% 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
PROVIDES SUPPORT FOR THE PROGRAMS OF CATHOLIC EDLERCARE, CATHOLIC ELDERCARE COMMUNITY SERVICES CORP., CATHOLIC ELDERCARE AT ST HEDWIG'S AND CATHOLIC ELDERCARE COMMUNITY SERVICES CORPORATION II.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PURPOSE OF THE ORGANIZATION IS PROVIDE FINANCIAL AND ORGANIZATIONAL SUPPORT FOR THE FOUR OTHER NON-PROFIT ENTITIES, AS FOLLOWS: 1) CATHOLIC ELDERCARE, A 174 BED SKILLED NURSING FACILITY (24 BEDS ARE USED FOR TRANSITIONAL CARE), PROVIDES 24- HOUR LONG TERM CARE FOR SENIORS FROM MINNEAPOLIS AND THE SURROUNDING COMMUNITIES. 2) CATHOLIC ELDERCARE COMMUNITY SERVICES CORPORATION PROVIDES ASSISTED LIVING AND HOME HEALTH CARE SERVICES FOR 51 SENIORS, ADULT DAY CARE FOR UP TO 39 SENIORS PER DAY, AND HOME HEALTH CARE FOR SENIORS IN THE 69-UNIT SIXTY-TWO PLUS INDEPENDENT LIVING FACILITY. 3) CATHOLIC ELDERCARE AT ST. HEDWIG'S IS A 35-UNIT SUBSIDIZED INDEPENDENT HOUSING BUILDING FOR LOW-INCOME SENIORS. 4) CATHOLIC ELDERCARE COMMUNITY SERVICES CORPORATION II IS A 71-UNIT ASSISTED LIVING BUILDING WITH A FULL RANGE OF SERVICES, INCLUDING 24-HOUR NURSING CARE, HOME CARE, THERAPY, ACTIVITIES, PASTORAL CARE AND FOOD SERVICES. 50% OF SENIORS SERVICED ACROSS THE CONTINUUM ARE ON SOME TYPE OF SUBSIDY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nancy Utoft Board Chair | OfficerTrustee | 1 | $0 |
Mark Glodek Board Member | Trustee | 1 | $0 |
Robert Hanten Board Vice Chair | OfficerTrustee | 0.5 | $0 |
Dr Mike Naughton Board Member | Trustee | 1 | $0 |
Jeff Schrempp Board Member | Trustee | 1 | $0 |
Chris Fitzmorris Board Treasurer | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $876,970 |
| Investment income | $202,338 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $376,333 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,043,390 |
| Statement of Expenses | |
|---|---|
| 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 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 | $0 |
| Fees for services: Legal | $66,004 |
| Fees for services: Accounting | $56,260 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $82,288 |
| Fees for services: Other | $500,532 |
| Advertising and promotion | $11,628 |
| Office expenses | $81,480 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $16,006 |
| Travel | $24 |
| 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 | $17,240 |
| Insurance | $170,331 |
| All other expenses | $0 |
| Total functional expenses | $2,050,532 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,411,700 |
| Savings and temporary cash investments | $1,183,176 |
| Pledges and grants receivable | $19,509 |
| 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 | $56,036 |
| Investments—publicly traded securities | $12,705,323 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $492,413 |
| Total assets | $16,110,991 |
| Accounts payable and accrued expenses | $602,589 |
| 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 | $2,144,471 |
| Total liabilities | $2,747,060 |
| Net assets without donor restrictions | $13,304,631 |
| Net assets with donor restrictions | $59,300 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $13,363,931 |