Pilgrim Tower East
- Assets
- $15.6m
- Revenue
- $3.8m
- Investments
- $0.0
- Employees
- 0
- Location
- Long Beach, CA
- Founding
- 12/1978
- Data as of
- 11/2023
- EIN
- 95-3298228
Organization Overview
Pilgrim Tower East is located in Long Beach, CA. The organization was established in 1978. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Pilgrim Tower East 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 11/2023, Pilgrim Tower East generated $3.8m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 7.5% each year. All expenses for the organization totaled $4.5m during the year ending 11/2023. While expenses have increased by 15.3% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE AFFORDABLE HOUSING FOR LOW-INCOME SENIORS, BASED ON NEED, IN AN ENVIRONMENT ENHANCING THE QUALITY OF LIFE AS IT RELATES TO THEIR PHYSICAL, MENTAL AND SPIRITUAL WELL-BEING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE AFFORDABLE HOUSING FOR LOW-INCOME SENIORS, BASED ON NEED, IN AN ENVIRONMENT ENHANCING THE QUALITY OF LIFE AS IT RELATES TO THEIR PHYSICAL, MENTAL AND SPIRITUAL WELL-BEING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Hartman Stuart J President/ceo | Officer | 0.2 | $0 |
Amberg Robert R Executive VP Gen Counsel | Officer | 0.2 | $0 |
Rossello Frank Jr CFO And VP Of Finance | Officer | 0.2 | $0 |
Napierskie David W VP Health Care Operations | Officer | 0.2 | $0 |
Magnone Vincent B VP Treasury & Invstmt Off | Officer | 0.2 | $0 |
Battaglia Nada VP Human Resources | Officer | 0.2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,958,584 |
| 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 | $2,958,584 |
| Total Program Service Revenue | $787,157 |
| Investment income | $79,552 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $10,200 |
| 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 | $3,844,775 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,715,800 |
| 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 | $159,301 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $120 |
| Office expenses | $71,966 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $889,807 |
| Travel | $1,718 |
| 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 | $353,315 |
| Insurance | $21,581 |
| All other expenses | $0 |
| Total functional expenses | $4,534,877 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,236,286 |
| Savings and temporary cash investments | $200,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $30,725 |
| 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 | $14,994 |
| Net Land, buildings, and equipment | $11,159,167 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $1,908,511 |
| Intangible assets | $0 |
| Other assets | $65,631 |
| Total assets | $15,615,314 |
| Accounts payable and accrued expenses | $179,404 |
| Grants payable | $0 |
| Deferred revenue | $316 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $65,631 |
| Total liabilities | $245,351 |
| Net assets without donor restrictions | $15,369,963 |
| 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 | $15,615,314 |