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Nonprofiteer
← MERCY TERRACE APARTMENTS

Form 990 for tax year 2022

Filed by MERCY TERRACE APARTMENTS.

Totals

Total revenue
$519,157
Total expenses
$514,575
Contributions and grants received
$13,337
Grants paid
$65,986
Program service revenue
$490,583
Investment income
$15,237
Other revenue
$0
Total assets, end of year
$2,447,079
Total liabilities, end of year
$27,888
Net assets or fund balances, end of year
$2,419,191
Program services expenses (Part IX)
$491,120
Management and general expenses
$23,455
Fundraising expenses
$0
Program service expenses (Part III)
$491,120

Program services were 95.4% 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.

  • 1f · All other contributions, gifts and grants

    $13,337

  • 2a · Program service revenue: Rental income

    total $477,725 · related or exempt $477,725

  • 2b · Program service revenue: Laundry room income

    total $7,858 · related or exempt $7,858

  • 2c · Program service revenue: Application fee income

    total $5,000 · related or exempt $5,000

  • 3 · Investment income

    total $10,650 · related or exempt $10,650

  • 7a · Gross sales of assets other than inventory

    securities $6,197

  • 7b · Less cost or other basis and sales expenses

    securities $1,610

  • 7c · Gain or loss

    securities $4,587

  • 7d · Net gain or loss

    total $4,587 · related or exempt $4,587

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $65,986 · program services $65,986

  • 5 · Compensation of officers, directors and key employees

    total $66,496 · program services $63,186 · management and general $3,310

  • 7 · Other salaries and wages

    total $53,115 · program services $50,683 · management and general $2,432

  • 8 · Pension plan contributions

    total $9,194 · program services $8,896 · management and general $298

  • 9 · Other employee benefits

    total $3,032 · program services $2,880 · management and general $152

  • 10 · Payroll taxes

    total $9,075 · program services $8,822 · management and general $253

  • 11c · Fees: accounting

    total $3,975 · management and general $3,975

  • 11f · Fees: investment management

    total $1,610 · management and general $1,610

  • 13 · Office expenses

    total $6,522 · program services $3,807 · management and general $2,715

  • 16 · Occupancy

    total $58,963 · program services $56,015 · management and general $2,948

  • 22 · Depreciation, depletion and amortization

    total $115,236 · program services $109,474 · management and general $5,762

  • 23 · Insurance

    total $17,780 · program services $17,780

  • 24a · Other expenses: Replacements

    total $40,241 · program services $40,241

  • 24b · Other expenses: Repairs and maintenance

    total $35,230 · program services $35,230

  • 24c · Other expenses: Municipal services

    total $25,930 · program services $25,930

  • 24e · All other expenses

    total $2,190 · program services $2,190

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $260,673 · end of year $285,375

  • 9 · Prepaid expenses and deferred charges

    beginning of year $10,289 · end of year $11,696

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

    $4,423,296

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

    $2,598,404

  • 10c · Land, buildings and equipment, net

    beginning of year $1,862,227 · end of year $1,824,892

  • 11 · Investments: publicly traded securities

    beginning of year $388,806 · end of year $325,116

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,169 · end of year $6,388

  • 19 · Deferred revenue

    beginning of year $29,500 · end of year $21,500

  • 27 · Net assets without donor restrictions

    beginning of year $2,489,326 · end of year $2,419,191

Mission and programs · 2022

Mission

Operation of an independent living apartment complex the elderly, meeting their social, spiritual, physical and psychological needs in housing and immediate environment, at a moderate cost.

Activities or mission (Part I)

Operation of an independent living apartment complex for the elderly, meeting their social, spiritual, physical and psychological needs in housing and immediate environment, at a moderate cost.

  • Operation of a 64 unit independent living apartment complex for the elderly meeting their social, spiritual, physical and psychological needs in housing and immediate environment, at a moderate cost.

    Expenses $491,120 · Grants $65,986 · Revenue $505,820

As filed on the 2022 return.

Listed in Part VII

  • Lisa Anderson

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Diane McCullough

    Member at large

    Total calculated
    $0
    Hours/week
    2

  • Sr Mary Ann Bader RSM

    Secretary

    Total calculated
    $0
    Hours/week
    2

  • Rev Michael P Ferrick

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Linda Wozniak

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Karen A Burns

    Treasurer

    Total calculated
    $0
    Hours/week
    2

  • Thomas Brunner

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • John C Martin

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Michele Wheaton

    Chairperson

    Total calculated
    $0
    Hours/week
    2

  • Melissa L Larese Esq

    Vice Chairperson

    Total calculated
    $0
    Hours/week
    2

  • Marybeth Veshecco

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Sr JoAnne Courneen RSM

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Mary E Zenner

    Executive Director

    Total calculated
    $66,496
    From this org
    $66,496
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

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.

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.

Provenance

Return type
form_990
Tax year
2022
Filed
23 March 2023
IRS schema version
2022v5.0
Source object
202331099349300513

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