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Nonprofiteer
← LORETTO FOUNDATION

Form 990 for tax year 2022

Filed by LORETTO FOUNDATION.

Totals

Total revenue
$594,873
Total expenses
$797,454
Contributions and grants received
$602,664
Grants paid
$564,291
Program service revenue
$134,160
Investment income
$7,979
Other revenue
-$149,930
Total assets, end of year
$3,017,543
Total liabilities, end of year
$1,015,115
Net assets or fund balances, end of year
$2,002,428
Program services expenses (Part IX)
$612,021
Management and general expenses
$108,411
Fundraising expenses
$77,022
Program service expenses (Part III)
$612,021

Program services were 76.7% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1c · Fundraising events

    $156,313

  • 1f · All other contributions, gifts and grants

    $446,351

  • 2a · Program service revenue: COMMUNITY TRUST INCOME

    total $71,785 · related or exempt $71,785

  • 2b · Program service revenue: TRUST FUND JOINDER FEES

    total $62,375 · related or exempt $62,375

  • 3 · Investment income

    total $158 · excluded $158

  • 4 · Income from investment of tax-exempt bond proceeds

    total $7,821 · excluded $7,821

  • 8a · Fundraising events: gross income

    $5,213

  • 8a · Fundraising events: contributions included on line 1c

    $156,313

  • 8b · Fundraising events: direct expenses

    $4,193

  • 8c · Net income from fundraising events

    total $1,020 · excluded $1,020

  • 11a · Other revenue: CHANGE IN BENEFICIAL INTEREST IN

    total -$156,450 · excluded -$156,450

  • 11d · All other revenue

    total $5,500 · related or exempt $5,500

  • 11e · Other revenue, total

    -$150,950

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $537,698 · program services $537,698

  • 2 · Grants to domestic individuals

    total $26,593 · program services $26,593

  • 11a · Fees: management

    total $60,000 · management and general $60,000

  • 11c · Fees: accounting

    total $18,590 · management and general $18,590

  • 12 · Advertising and promotion

    total $47,655 · management and general $1,258 · fundraising $46,397

  • 13 · Office expenses

    total $21,520 · management and general $16,020 · fundraising $5,500

  • 19 · Conferences, conventions and meetings

    total $125 · fundraising $125

  • 21 · Payments to affiliates

    total $29,816 · management and general $4,816 · fundraising $25,000

  • 22 · Depreciation, depletion and amortization

    total $810 · management and general $810

  • 23 · Insurance

    total $2,542 · management and general $2,542

  • 24a · Other expenses: EMPLOYEE APPRECIATION

    total $42,965 · program services $42,965

  • 24b · Other expenses: POOLED TRUST EXPENSES

    total $4,765 · program services $4,765

  • 24c · Other expenses: BANK FEES

    total $4,375 · management and general $4,375

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $385,808 · end of year $451,940

  • 2 · Savings and temporary cash investments

    beginning of year $336,319 · end of year $384,766

  • 3 · Pledges and grants receivable

    beginning of year $212,045 · end of year $74,425

  • 4 · Accounts receivable

    beginning of year $70,405 · end of year $46,460

  • 9 · Prepaid expenses and deferred charges

    beginning of year $4,129 · end of year $4,610

  • 10a · Land, buildings and equipment: cost or other basis

    $8,103

  • 10b · Land, buildings and equipment: accumulated depreciation

    $4,793

  • 10c · Land, buildings and equipment, net

    beginning of year $4,120 · end of year $3,310

  • 13 · Investments: program-related

    beginning of year $1,281,030 · end of year $1,118,880

  • 15 · Other assets

    beginning of year $961,897 · end of year $933,152

  • 17 · Accounts payable and accrued expenses

    beginning of year $32,506 · end of year $43,304

  • 19 · Deferred revenue

    end of year $76,522

  • 21 · Escrow or custodial account liability

    beginning of year $913,503 · end of year $895,289

  • 27 · Net assets without donor restrictions

    beginning of year $1,610,453 · end of year $1,415,085

  • 28 · Net assets with donor restrictions

    beginning of year $699,291 · end of year $587,343

Mission and programs · 2022

Mission

TO ENGAGE IN CHARITABLE ACTIVITES AS MAY BE OF BENEFIT TO AGED PERSONS BY OPERATING SOLELY FOR THE BENEFIT OF, PERFORMING THE FUNCTIONS OF, OR CARRYING OUT THE PURPOSES FOR THE AFFILIATED LORETTO ORGANIZATIONS.

Activities or mission (Part I)

ENGAGE IN CHARITABLE ACTIVITES BENEFITING AGED PERSONS BY OPERATING SOLELY FOR THE BENEFIT OF, PERFORMING THE FUNCTIONS OF, OR CARRING OUT THE PURPOSES FOR THE AFFILIATED LORETTO ORGANIZATIONS.

  • THE LORETTO FOUNDATION ADMINISTERS THE LORETTO FOUNDATION COMMUNITY TRUST, A POOLED SUPPLEMENTAL NEEDS TRUST, WHICH BENEFITS MANY SENIORS AND DISABLED INDIVIDUALS IN THE COMMUNITY. INCOME FROM THE POOLED TRUST IS RESTRICTED FOR THE BENEFIT OF MEMBERS OF THE TRUST.

    Expenses $612,021 · Grants $564,291 · Revenue $139,660

  • THE LORETTO FOUNDATION IS THE FUND DEVELOPMENT SEGMENT OF THE LORETTO ORGANIZATION AND HAS RESPONSIBILITY FOR RAISING MONEY TO SUPPORT THE ORGANIZATION'S NEEDS. GIFTS TO LORETTO SUPPORT THE FUTURE OF QUALITY AND ACCESSIBLE LONGTERM HEALTH CARE FOR THE FRAIL ELDERLY IN CENTRAL NEW YORK. LORETTO HAS PROVIDED SERVICE TO THIS POPULATION FOR 90 YEARS. WITH DONATIONS FROM THE COMMUNITY, LORETTO WILL CONTINUE TO FULFILL ITS MISSION OF PROVIDING QUALITY OF LIFE FOR THE FRAIL ELDERLY OF CENTRAL NEW YORK.

As filed on the 2022 return.

Listed in Part VII

  • Peter E Muserlian

    BOARD MEMBER, CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Michael Zandri

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Jason Smorol

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Cora Alsante

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • John P Condon

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Greg Lancette

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Pierre Morrisseau

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Msgr J Robert Yeazel

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Helene Wallace

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Claudia Kosty

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Crystal Paolelli

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Barbara C Kimm

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Randall Green MD

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Liza Magley

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Megan Schneider

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Kimberly Townsend

    PRESIDENT

    Total calculated
    $527,235
    From this org
    $0
    From related orgs
    $527,235
    Other
    $0
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $527,235 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $527,235 related

  • John Murray

    CFO

    Total calculated
    $259,932
    From this org
    $0
    From related orgs
    $259,932
    Other
    $0
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $259,932 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $804 related
    Nontaxable benefits
    $0
    Filer's total
    $0 + $260,736 related

  • Julie Sheedy

    CHIEF MARKETING AND ENGAGEMENT OFFICER

    Total calculated
    $192,108
    From this org
    $38,422
    From related orgs
    $153,686
    Other
    $0
    Hours/week
    8 + 32 related

    Schedule J breakdown matched by us

    Base
    $38,422 + $153,686 related
    Bonus
    $0
    Other
    $0
    Deferred
    $117 + $468 related
    Nontaxable benefits
    $1,601
    Filer's total
    $40,140 + $154,154 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation committee
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • ADVANCED INSTITUTIONAL SUPPORT SERVICES LLC

    FOOD SERVICES MANAGEMENT · NY

    Directly controlled by LORETTO MANAGEMENT CORPORATION

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • BRIGHTON MANAGEMENT SERVICES INC

    C · CONSULTING SERVICES · NY

Provenance

Return type
form_990
Tax year
2022
Filed
19 October 2022
IRS schema version
2022v5.0
Source object
202440549349300304

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