Our Lady Of Wisdom Facility Corporation
- Assets
- $7.4m
- Revenue
- $803.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Mandeville, LA
- Founding
- 03/1946
- Data as of
- 06/2023
- EIN
- 81-4274508
Organization Overview
Our Lady Of Wisdom Facility Corporation is located in Mandeville, LA. The organization was established in 1946. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Our Lady Of Wisdom Facility Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
OUR LADY OF WISDOM FACILITY CORPORATION ("OLOW FC") IS A 501(C)(3) ORGANIZED AS A TYPE I SUPPORTING ORGANIZATION OF COMMCARE CORPORATION, A LOUISIANA NON-PROFIT CORPORATION. OLOW FC OWNS, OPERATES, AND MAINTAINS THE REAL AND IMMOVABLE PROPERTY, AND PROVIDES LONG-TERM FIXED RATE FINANCING TO OUR LADY OF WISDOM COMMUNITY CARE CENTER ("OLOW"), THE HUD- INSURED NURSING HOME, FHA PROJECT 064-22108. OUR LADY OF WISDOM COMMUNITY CARE CENTER IS A NURSING CARE FACILITY OWNED AND OPERATED BY COMMCARE CORPORATION, THE SUPPORTED ORGANIZATION OF OLOW FC, THAT OPERATES THE SKILLED NURSING FACILITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OUR LADY OF WISDOM FACILITY CORPORATION ("OLOW FC") IS A 501(C)(3) ORGANIZED AS A TYPE I SUPPORTING ORGANIZATION OF COMMCARE CORPORATION, A LOUISIANA NON-PROFIT CORPORATION. OLOW FC OWNS, OPERATES, AND MAINTAINS THE REAL AND IMMOVABLE PROPERTY, AND PROVIDES LONG-TERM FIXED RATE FINANCING TO OUR LADY OF WISDOM COMMUNITY CARE CENTER ("OLOW"), THE HUD- INSURED NURSING HOME, FHA PROJECT 064-22108. OUR LADY OF WISDOM COMMUNITY CARE CENTER IS A NURSING CARE FACILITY OWNED AND OPERATED BY COMMCARE CORPORATION, THE SUPPORTED ORGANIZATION OF OLOW FC, THAT OPERATES THE SKILLED NURSING FACILITY.
OUR LADY OF WISDOM FACILITY CORPORATION ("OLOW FC") IS A 501(C)(3) ORGANIZED AS A TYPE I SUPPORTING ORGANIZATION OF COMMCARE CORPORATION, A LOUISIANA NON-PROFIT CORPORATION. OLOW FC OWNS, OPERATES, AND MAINTAINS THE REAL AND IMMOVABLE PROPERTY, AND PROVIDES LONG-TERM FIXED RATE FINANCING TO OUR LADY OF WISDOM COMMUNITY CARE CENTER ("OLOW"), THE HUD- INSURED NURSING HOME, FHA PROJECT 064-22108. OUR LADY OF WISDOM COMMUNITY CARE CENTER IS A NURSING CARE FACILITY OWNED AND OPERATED BY COMMCARE CORPORATION, THE SUPPORTED ORGANIZATION OF OLOW FC, THAT OPERATES THE SKILLED NURSING FACILITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Father Patrick Carr Director | Trustee | $0 | |
Michael Ford Presdent/dir | OfficerTrustee | $0 | |
G Anthony Mangum Director | Trustee | $0 | |
Terri North Director | Trustee | $0 | |
Patricia Prechter Director | Trustee | $0 | |
Dawn Psarellis Secretary | OfficerTrustee | $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 | $802,366 |
| Investment income | $1,277 |
| 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 | $803,643 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $10,000 |
| 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 | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $386,684 |
| 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 | $776,026 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $6,708,625 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $72,916 |
| 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 | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $49,113 |
| Net Land, buildings, and equipment | $6,288,954 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $949,094 |
| Total assets | $7,360,077 |
| Accounts payable and accrued expenses | $6,450 |
| 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 | $10,346,260 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $10,352,710 |
| Net assets without donor restrictions | -$2,992,633 |
| 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 | $7,360,077 |