Laurens Memorial Home For The Aged Inc
- Assets
- $315.4k
- Revenue
- $591.3k
- Investments
- $0.0
- Employees
- 47
- Location
- Laurens, SC
- Founding
- 05/1972
- Data as of
- 06/2021
- EIN
- 57-0531246
Organization Overview
Laurens Memorial Home For The Aged Inc is located in Laurens, SC. The organization was established in 1972. According to its NTEE Classification (P75) the organization is classified as: Supportive Housing for Older Adults, under the broad grouping of Human Services and related organizations. As of 06/2021, Laurens Memorial Home For The Aged Inc employed 47 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Laurens Memorial Home For The Aged 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 06/2021, Laurens Memorial Home For The Aged Inc generated $591.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (4.5%) each year. All expenses for the organization totaled $832.8k during the year ending 06/2021. 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
ELDERLY NURSING HOME CARE
Describe the Organization's Program Activity:
Part 3 - Line 4a
ROOM AND BOARD, MEDICAL AND LIGHT NURSING CARE FOR ELDERLY RESIDENTS OF LAURENS COUNTY. GENERALLY NO MORE THAN 45 RESIDENTS AT ANY GIVEN TIME.
ROOM AND BOARD, MEDICAL AND LIGHT NURSING CARE FOR ELDERLY RESIDENTS OF LAURENS COUNTY. GENERALLY NO MORE THAN 45 RESIDENTS AT ANY GIVEN TIME.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William Adair Vice Chairma | OfficerTrustee | $0 | |
James R Jacks Jr Chairman | OfficerTrustee | $0 | |
Zeke Benjamin Director | Trustee | $0 | |
Homer Elwood Director | Trustee | $0 | |
James E Bryan Director | Trustee | $0 | |
Susan Ware Director | Trustee | $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 | $227,931 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $227,931 |
| Total Program Service Revenue | $361,777 |
| Investment income | $382 |
| 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 | $591,325 |
| 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 | $81,118 |
| 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 | $507,909 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $47,390 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,250 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $10,745 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $100,582 |
| 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 | $26,163 |
| Insurance | $34,862 |
| All other expenses | $1,744 |
| Total functional expenses | $832,831 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $74,356 |
| Savings and temporary cash investments | $288 |
| 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 | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $240,755 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $315,399 |
| Accounts payable and accrued expenses | $154 |
| 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 | $154 |
| Net assets without donor restrictions | $315,245 |
| 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 | $315,399 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Laurens Memorial Home For The Aged Inc has recieved totaling $80,000.
| Awarding Organization | Amount |
|---|---|
Ps Bailey And Ouida C Bailey Foundation Clinton, SC PURPOSE: SUPPORT OF NURSING CARE FOR ELDERLY RESIDENTS | $70,000 |
Kennedy Foundation Clinton, SC PURPOSE: HOUSING FOR LOW INCOME INDIGENT SENIOR CITIZENS | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lutheran Homes Of South Carolina Inc Irmo, SC | $120,175,361 | $78,300,034 |
Presbyterian Communities Of South Carolina Columbia, SC | $133,476,143 | $58,903,174 |
Givens Estates Inc Asheville, NC | $338,452,219 | $72,683,846 |
Presbyterian Homes Inc Colfax, NC | $256,348,828 | $62,438,008 |
Aldersgate United Methodist Retirement Community Inc Charlotte, NC | $165,248,151 | $44,725,662 |
Everyage Newton, NC | $158,969,277 | $58,100,743 |
Lenbrook Square Foundation Inc Atlanta, GA | $291,448,667 | $46,078,205 |
Southminster Inc Charlotte, NC | $251,267,272 | $46,562,509 |
Bishop Gadsden Episcopal Retirement Community Charleston, SC | $293,506,409 | $50,827,097 |
Carolina Meadows Inc Chapel Hill, NC | $159,623,308 | $43,472,709 |
Springmoor Inc Raleigh, NC | $57,744,266 | $37,768,204 |
Moravian Home Incorporated Winstonsalem, NC | $135,166,146 | $36,716,865 |