Friendship Manor Corporation
- Assets
- $4.0m
- Revenue
- $2.6m
- Investments
- $0.0
- Employees
- 39
- Location
- Salt Lake City, UT
- Founding
- 10/1965
- Data as of
- 09/2022
- EIN
- 87-0275486
Organization Overview
Friendship Manor Corporation is located in Salt Lake City, UT. The organization was established in 1965. 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 09/2022, Friendship Manor Corporation employed 39 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Friendship Manor Corporation 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 09/2022, Friendship Manor Corporation generated $2.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.7% each year. All expenses for the organization totaled $2.2m during the year ending 09/2022. While expenses have increased by 0.3% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE LOW INCOME HOUSING TO THE ELDERLY AND DISABLED.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE LOW INCOME HOUSING TO THE ELDERLY AND DISABLED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Mertens Director | OfficerTrustee | 0.5 | $0 |
Charles Pioli Director | OfficerTrustee | 0.5 | $0 |
Jean Boyack Director | OfficerTrustee | 0.5 | $0 |
Vickie Brunstetter Director | OfficerTrustee | 0.5 | $0 |
Elizabeth Weight Director | Trustee | 0.5 | $0 |
Gene Mahalko Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $880,963 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,278 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $883,241 |
| Total Program Service Revenue | $1,751,048 |
| Investment income | $204 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,500 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,635,993 |
| 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 | $711,925 |
| Pension plan accruals and contributions | $33,535 |
| Other employee benefits | $95,083 |
| Payroll taxes | $54,823 |
| Fees for services: Management | $115,709 |
| Fees for services: Legal | $11,705 |
| Fees for services: Accounting | $17,975 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $9,215 |
| Office expenses | $55,763 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $460,659 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,710 |
| Interest | $111,467 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $190,070 |
| Insurance | $82,090 |
| All other expenses | $62,562 |
| Total functional expenses | $2,249,498 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $228,425 |
| Savings and temporary cash investments | $75,674 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $20,187 |
| 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 | $46,483 |
| Net Land, buildings, and equipment | $2,550,930 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $213,561 |
| Other assets | $868,990 |
| Total assets | $4,004,250 |
| Accounts payable and accrued expenses | $202,231 |
| Grants payable | $0 |
| Deferred revenue | $32,373 |
| 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 | $3,037,889 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $61,908 |
| Total liabilities | $3,334,401 |
| Net assets without donor restrictions | $669,849 |
| 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 | $4,004,250 |
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