Salem Village
- Assets
- $11.3m
- Revenue
- $857.7k
- Investments
- $0.0
- Employees
- 2
- Location
- Mount Vernon, WA
- Founding
- 03/1997
- Data as of
- 12/2022
- EIN
- 91-1685447
Organization Overview
Salem Village is located in Mount Vernon, WA. The organization was established in 1997. According to its NTEE Classification (X22) the organization is classified as: Roman Catholic, under the broad grouping of Religion-Related and related organizations. As of 12/2022, Salem Village employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Salem Village 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 12/2022, Salem Village generated $857.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (8.2%) each year. All expenses for the organization totaled $1.0m during the year ending 12/2022. 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
TO PROVIDE AFFORDABLE, SAFE HOUSING FOR SENIORS IN SKAGIT COUNTY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED SENIOR ADULTS WITH QUALITY HOUSING FACILITIES AND SERVICES IN A CARING COMMUNITY AT BOTH SALEM VILLAGE II AND HIGHLAND GREENS II DEVELOPMENTS AND PROVIDE LOW RENTAL HOUSING TO PERSONS WITH LOW-INCOME AT SALEM VILLAGE APARTMENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tom Hulbert President | OfficerTrustee | 4 | $0 |
Carl Libbey Vice President | OfficerTrustee | 4 | $0 |
Lori Lacey Secretary | OfficerTrustee | 2 | $0 |
Jean Champagne Director | Trustee | 2 | $0 |
Jerry Nelson Director | Trustee | 2 | $0 |
Gene Van Selus Executive Director | OfficerTrustee | 38 | $122,140 |
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 | $761,440 |
| Investment income | $96,308 |
| 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 | $857,748 |
| 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. | $122,140 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $63,670 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $45,173 |
| Fees for services: Management | $14,815 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,885 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $8,611 |
| Office expenses | $21,809 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $5,400 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $94,774 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $218,960 |
| Insurance | $40,406 |
| All other expenses | $9,133 |
| Total functional expenses | $1,000,830 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $288,757 |
| Savings and temporary cash investments | $1,163,119 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $12,546 |
| 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 | $6,963 |
| Net Land, buildings, and equipment | $7,305,663 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $2,478,827 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $11,255,875 |
| Accounts payable and accrued expenses | $28,253 |
| 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 | $2,339,721 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $7,690,044 |
| Total liabilities | $10,058,018 |
| Net assets without donor restrictions | $0 |
| 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 | $1,197,857 |
| Total liabilities and net assets/fund balances | $11,255,875 |