Old Ladies Home Association
- Assets
- $43.7m
- Revenue
- $65.2k
- Investments
- $20.8m
- Employees
- 0
- Location
- Ridgeland, MS
- Founding
- 07/1948
- Data as of
- 03/2023
- EIN
- 64-0303089
Organization Overview
Old Ladies Home Association is located in Ridgeland, MS. The organization was established in 1948. According to its NTEE Classification (L50) the organization is classified as: Homeowners & Tenants Associations, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Old Ladies Home Association 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 03/2023, Old Ladies Home Association generated $65.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (29.0%) each year. All expenses for the organization totaled $511.9k during the year ending 03/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Old Ladies Home Association has awarded 22 individual grants totaling $11,398,456. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE FOR THE CARE OF THE ELDERLY, DESTITUTE AND DISABLED IN THE STATE OF MISSISSIPPI PRIMARILY THROUGH DIRECT FINANCIAL ASSISTANCE TO OTHER NON-PROFIT ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Anne W Rogers President | 0.25 | $0 | |
Charlotte W Mcneel Secretary & VP | 0.25 | $0 | |
Sallie R Moseley Treasurer & VP | 0.25 | $0 | |
Anne P Wells VP | 0.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $551,559 |
| Interest on Savings | $280,691 |
| Dividends & Interest | $292,423 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $718,976 |
| Capital Gain Net Income | $718,976 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | -$1,778,459 |
| Total Revenue | $65,190 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $34,114 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $54,726 |
| Total operating and administrative expenses | $111,812 |
| Contributions, gifts, grants paid | $400,100 |
| Total expenses and disbursements | $511,912 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,112,732 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $20,784,504 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $20,828,769 |
| Total assets | $43,726,005 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Old Ladies Home Association has awarded $400,100 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
METHODIST REHABILITATION CENTER PURPOSE: MEDICAL REHABILITATION | $400,000 |
ST STEPHEN'S CHURCH PURPOSE: TO SUPPORT THE MISSION OF THE CHURCH. | $50 |
FIRST PRESBYTERIAN CHURCH PURPOSE: TO SUPPORT THE MISSION OF THE CHURCH | $50 |