Methodist Home For The Aging
- Assets
- $15.5m
- Revenue
- $4.2m
- Investments
- $0.0
- Employees
- 92
- Location
- Birmingham, AL
- Founding
- 11/1998
- Data as of
- 06/2022
- EIN
- 46-2392994
Organization Overview
Methodist Home For The Aging is located in Birmingham, AL. The organization was established in 1998. 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 06/2022, Methodist Home For The Aging employed 92 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Methodist Home For The Aging 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 06/2022, Methodist Home For The Aging generated $4.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.0% each year. All expenses for the organization totaled $3.9m during the year ending 06/2022. While expenses have increased by 2.6% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE AFFORDABLE HOUSING TO THE ELDERLY AND HANDICAPPED.
Describe the Organization's Program Activity:
Part 3 - Line 4a
A SEVENTY-FOUR UNIT ASSISTED LIVING FACILITY IN PANAMA CITY, FLORIDA FOR THE ELDERLY AND HANDICAPPED THAT PROVIDES AFFORDABLE HOUSING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Marty Clark Chair | OfficerTrustee | 0 | $0 |
Bobby Scales Treasurer | OfficerTrustee | 0 | $0 |
Maudine Holloway Secretary | OfficerTrustee | 0 | $0 |
Pete Comfort Trustee | Trustee | 0 | $0 |
Dianne Griswold Trustee | Trustee | 0 | $0 |
Bob Mckee Trustee | Trustee | 0 | $0 |
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 | $35,704 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $35,704 |
| Total Program Service Revenue | $4,196,326 |
| Investment income | $381 |
| 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 | $4,235,468 |
| 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 | $1,436,774 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $87,451 |
| Payroll taxes | $115,842 |
| Fees for services: Management | $250,044 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $47,658 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,975 |
| Advertising and promotion | $4,926 |
| Office expenses | $18,246 |
| Information technology | $34,975 |
| Royalties | $0 |
| Occupancy | $529,158 |
| Travel | $1,765 |
| 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 | $444,318 |
| Insurance | $239,945 |
| All other expenses | $44,335 |
| Total functional expenses | $3,858,383 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $728,279 |
| Savings and temporary cash investments | $1,422,815 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,306 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $7,368 |
| Prepaid expenses and deferred charges | $438,041 |
| Net Land, buildings, and equipment | $12,582,100 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $305,320 |
| Total assets | $15,487,229 |
| Accounts payable and accrued expenses | $839,243 |
| 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 | $6,783,084 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $158,701 |
| Total liabilities | $7,781,028 |
| Net assets without donor restrictions | $7,706,201 |
| 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 | $15,487,229 |