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Nonprofiteer
← CLARA WELTY TEST TR FBO WELTY HOME FOR THE AGED INC

Form 990 for tax year 2024

Filed by CLARA WELTY TEST TR FBO WELTY HOME FOR THE AGED INC.

Totals

Total revenue
$1,010,748
Total expenses
$659,781
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$810,748
Other revenue
$200,000
Total assets, end of year
$41,475,488
Total liabilities, end of year
$2,749,966
Net assets or fund balances, end of year
$38,725,522
Program services expenses (Part IX)
$612,561
Management and general expenses
$47,220
Fundraising expenses
$0
Program service expenses (Part III)
$612,561

Program services were 92.8% 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.

  • 3 · Investment income

    total $810,516 · excluded $810,516

  • 6a · Gross rents

    real property $200,000

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $200,000

  • 6d · Net rental income or loss

    total $200,000 · related or exempt $200,000

  • 7a · Gross sales of assets other than inventory

    securities $232

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

    securities $0

  • 7c · Gain or loss

    securities $232

  • 7d · Net gain or loss

    total $232 · excluded $232

Functional expenses

Part IX, the statement of functional expenses.

  • 11f · Fees: investment management

    total $47,220 · management and general $47,220

  • 20 · Interest

    total $115,181 · program services $115,181

  • 22 · Depreciation, depletion and amortization

    total $497,009 · program services $497,009

  • 24a · Other expenses: BANK FEES

    total $247 · program services $247

  • 24b · Other expenses: LICENSE FEES

    total $124 · program services $124

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $482,034 · end of year $282,710

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

    $26,218,211

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

    $11,715,991

  • 10c · Land, buildings and equipment, net

    beginning of year $14,999,229 · end of year $14,502,220

  • 11 · Investments: publicly traded securities

    beginning of year $24,160,748 · end of year $26,610,644

  • 15 · Other assets

    beginning of year $83,264 · end of year $79,914

  • 17 · Accounts payable and accrued expenses

    beginning of year $211,648

  • 23 · Secured mortgages and notes payable

    beginning of year $3,249,970 · end of year $2,749,966

  • 28 · Net assets with donor restrictions

    beginning of year $36,263,657 · end of year $38,725,522

Mission and programs · 2024

Mission

TO PROVIDE CARE AND COMFORT TO THE ELDERLY BY SUPPORTING WELTY HOME FOR THE AGED, INC., ITS SUBSIDIARIES, AND PROVIDING DIRECT CARE AND COMFORT TO THE ELDERLY.

Activities or mission (Part I)

TO PROVIDE CARE AND COMFORT TO THE ELDERLY BY SUPPORT OF WELTY HOME FOR THE AGED, INC., ITS SUBSIDIARIES, AND DIRECT CARE AND COMFORT TO THE ELDERLY.

  • OWNERSHIP OF INVESTMENTS AND FACILITIES FOR THE BENEFIT OF WELTY HOME FOR THE AGED, INC. IN 2024 TTHE TRUST PROVIDED THE CORPORATION WITH THE FREE USE OF FACILITIES WITH ANNUAL RENTAL VALUE OF $1,585,024.

    Expenses $612,561 · Revenue $200,000

As filed on the 2024 return.

Listed in Part VII

  • Penn Kurtz

    TREASURER

    Total calculated
    $0
    Hours/week
    0.3 + 0.2 related

  • Most Rev Mark E Brennan

    CHAIRMAN OF TRUSTEES

    Total calculated
    $0
    Hours/week
    0.3 + 1 related

  • Rev Msgr Joseph Peterson

    TRUSTEE (UNTIL 9/2024)

    Total calculated
    $0
    Hours/week
    0.3 + 1 related

  • Lawrence E Bandi

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.3 + 0.2 related

  • Rev Dennis Schuelkens

    TRUSTEE (11/2024)

    Total calculated
    $0
    Hours/week
    0.3 + 1 related

  • Donald R Kirsch

    ADMINISTRATOR (UNTIL 2/29/24)

    Total calculated
    $135,339
    From this org
    $0
    From related orgs
    $130,477
    Other
    $4,862
    Hours/week
    7 + 40 related

  • Morgan Murphy

    ADMINISTRATOR (AS OF 3/1/24)

    Total calculated
    $253,439
    From this org
    $0
    From related orgs
    $213,789
    Other
    $39,650
    Hours/week
    7 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $196,289 related
    Bonus
    $0 + $17,500 related
    Other
    $0
    Deferred
    $0 + $10,476 related
    Nontaxable benefits
    $0 + $29,174 related
    Filer's total
    $0 + $253,439 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

None.

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

The filer's explanations (Part III)

PART I, LINE 3
THE CEO'S COMPENSATION IS PAID BY WELTY HOME FOR THE AGED. WELTY HOME FOR THE AGED USES THE FOLLOWING METHODS TO ESTABLISH THE COMPENSATION OF THE CEO: -COMPENSATION SURVEY OR STUDY -APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE

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

No itemized grants to organizations 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.

  • WELTY TRUST REAL ESTATE LC

    REAL ESTATE HOLDING COMPANY · WV · income $1,024,026 · assets $5,453,562

    Directly controlled by CLARA WELTY TESTAMENTARY TRUST

  • WELTRUST LC

    NOMINEE FOR INVESTMENTS · WV · income $808,012 · assets $26,612,535

    Directly controlled by CLARA WELTY TESTAMENTARY TRUST

  • WELTY VILLAGE LC

    REAL ESTATE HOLDING COMPANY · WV · income $624,385 · assets $9,329,477

    Directly controlled by CLARA WELTY TESTAMENTARY TRUST

Provenance

Return type
form_990
Tax year
2024
Filed
14 October 2025
IRS schema version
2024v5.2
Source object
202543009349300414

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