Catholic Ministry To The Elderly
- Assets
- $7.5m
- Revenue
- $2.5m
- Investments
- $752.4k
- Employees
- 6
- Location
- Newark, DE
- Founding
- 03/1946
- Data as of
- 06/2023
- EIN
- 51-0255891
Organization Overview
Catholic Ministry To The Elderly is located in Newark, DE. The organization was established in 1946. According to its NTEE Classification (P81) the organization is classified as: Senior Centers, under the broad grouping of Human Services and related organizations. As of 06/2023, Catholic Ministry To The Elderly employed 6 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Catholic Ministry To The Elderly 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 06/2023, Catholic Ministry To The Elderly generated $2.5m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 10.5% each year . All expenses for the organization totaled $312.1k during the year ending 06/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
CATHOLIC MINISTRY TO THE ELDERLY, INC. (MINISTRY) WAS INCORPORATED IN THE STATE OF DELAWARE ON JANUARY 6, 1978. HISTORICALLY, THE MINISTRY OWNED AND OPERATED THE MARYDALE RETIREMENT COMMUNITY, A 108-UNIT U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD) SUBSIDIZED HOUSING PROJECT FOR LOW-INCOME ELDERLY AND HANDICAPPED INDIVIDUALS. THE MINISTRY NOW OPERATES THE HOUSING PROJECT AS THE GENERAL PARTNER OF MARYDALE PRESERVATION ASSOCIATES, LLC (MPA).
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PARTICIPATE AS A GENERAL PARTNER IN MARYDALE PRESERVATION ASSOCIATES, LLC (MPA), A LOW-INCOME HOUSING TAX CREDIT PROJECT. MPA OPERATES MARYDALE RETIREMENT VILLAGE, A HUD-SUBSIDIZED HOUSING PROJECT FOR LOW-INCOME ELDERLY AND HANDICAPPED INDIVIDUALS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Most Rev William E Koenig President | OfficerTrustee | 2 | $0 |
Monsignor Steven P Hurley Vg Vice President | OfficerTrustee | 2 | $0 |
James V Dugar Secretary | OfficerTrustee | 2 | $0 |
Fritz Jones Trustee | Trustee | 2 | $0 |
Joseph Corsini Treasurer | OfficerTrustee | 2 | $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 | $28,820 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $28,820 |
| Total Program Service Revenue | $293,297 |
| Investment income | $20,586 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $13,192 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,455,895 |
| 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 | $271,267 |
| Pension plan accruals and contributions | $8,800 |
| Other employee benefits | $0 |
| Payroll taxes | $19,781 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,899 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $312,071 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,113,592 |
| Savings and temporary cash investments | $0 |
| 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 | $3,457,134 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $752,425 |
| Investments—program-related | $1,204 |
| Intangible assets | $0 |
| Other assets | $1,125,833 |
| Total assets | $7,450,188 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $7,450,188 |
| 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 | $7,450,188 |