Monticello Ecumenical Retirement Center Inc
- Assets
- $1.2m
- Revenue
- $478.3k
- Investments
- $0.0
- Employees
- 4
- Location
- Monticello, AR
- Founding
- 01/1983
- Data as of
- 12/2021
- EIN
- 71-0563803
Organization Overview
Monticello Ecumenical Retirement Center Inc is located in Monticello, AR. The organization was established in 1983. 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 12/2021, Monticello Ecumenical Retirement Center Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Monticello Ecumenical Retirement Center 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 12/2021, Monticello Ecumenical Retirement Center Inc generated $478.3k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.1% each year. All expenses for the organization totaled $357.1k during the year ending 12/2021. 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
MONTICELLO ECUMENICAL RETIREMENT CENTER, INC. (THE "ORGANIZATION") WAS INCORPORATED JUNE 2, 1982 AS A NON-PROFIT ORGANIZATION. THE PRIMARY PURPOSE OF THE ORGANIZATION IS TO PROVIDE HOUSING FOR THE ELDERLY OR THE HANDICAPPED PURSUANT TO SECTION 202 OF THE NATIONAL HOUSING ACT, AS AMENDED. THE ORGANIZATION OPERATES ANNSWOOD APARTMENTS (THE "PROJECT"), AN APARTMENT COMPLEX OF 62 RENTAL UNITS LOCATED IN MONTICELLO, ARKANSAS. THE PROJECT LEASES THE APARTMENTS UNDER OPERATING LEASES THAT ARE SUBSTANTIALLY ALL ON A MONTH-TO MONTH BASIS. THE PROJECT'S MAJOR PROGRAM IS ITS SECTION 202 DIRECT LOAN. THE PROJECT IS REGULATED BY THE DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD) AS TO RENT CHARGES AND OPERATING METHODS. AS A NON-PROFIT OWNER OF THE PROJECT, THE ORGANIZATION IS NOT ENTITLED TO DISTRIBUTIONS OF PROJECT FUNDS UNDER THE TERMS OF THE REGULATORY AGREEMENT WITH HUD.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PROJECT IS REGULATED BY THE DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD) AS TO RENT CHARGES AND OPERATING METHODS. AS A NON-PROFIT OWNER OF THE PROJECT, THE ORGANIZATION IS NOT ENTITLED TO DISTRIBUTIONS OF PROJECT FUNDS UNDER THE TERMS OF THE REGULATORY AGREEMENT WITH HUD.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Frank Ferguson Pres/ceo | OfficerTrustee | $0 | |
Phyllis Jones Sec/treas | OfficerTrustee | $0 | |
Rosalee Emerson Director | Trustee | $0 | |
Tracey Ballard 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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $476,018 |
| Investment income | $1,641 |
| 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 | $478,324 |
| 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 | $78,826 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $5,275 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,790 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $3,702 |
| 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 | $46,114 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $47,206 |
| Insurance | $0 |
| All other expenses | $74,071 |
| Total functional expenses | $357,099 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $77,418 |
| Savings and temporary cash investments | $528,227 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $314 |
| 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 | $13,892 |
| Net Land, buildings, and equipment | $614,965 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $100 |
| Total assets | $1,234,916 |
| Accounts payable and accrued expenses | $35,040 |
| 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 | $453,939 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $488,979 |
| Net assets without donor restrictions | $745,937 |
| 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 | $1,234,916 |
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