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Nonprofiteer
← CATHOLIC MINISTRY TO THE ELDERLY

Form 990 for tax year 2022

Filed by CATHOLIC MINISTRY TO THE ELDERLY.

Totals

Total revenue
$2,455,895
Total expenses
$312,071
Contributions and grants received
$28,820
Grants paid
$0
Program service revenue
$293,297
Investment income
$33,778
Other revenue
$2,100,000
Total assets, end of year
$7,450,188
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$7,450,188
Program services expenses (Part IX)
$198,274
Management and general expenses
$113,797
Fundraising expenses
$0
Program service expenses (Part III)
$198,274

Program services were 63.5% 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

    $28,820

  • 2a · Program service revenue: REIMBURSEMENT OF PROGRAM EXPENSES

    total $229,933 · related or exempt $229,933

  • 2b · Program service revenue: MANAGEMENT FEE INCOME

    total $63,504 · related or exempt $63,504

  • 2c · Program service revenue: ACTIVITIES OF LIHTC PROGRAM

    total -$140 · related or exempt -$140

  • 3 · Investment income

    total $20,586 · excluded $20,586

  • 7a · Gross sales of assets other than inventory

    securities $13,192

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

    securities $0

  • 7c · Gain or loss

    securities $13,192

  • 7d · Net gain or loss

    total $13,192 · excluded $13,192

  • 11a · Other revenue: LAWSUIT SETTLEMENT PROCEEDS

    total $2,100,000 · excluded $2,100,000

  • 11e · Other revenue, total

    $2,100,000

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $271,267 · program services $178,493 · management and general $92,774

  • 8 · Pension plan contributions

    total $8,800 · program services $5,790 · management and general $3,010

  • 10 · Payroll taxes

    total $19,781 · program services $13,016 · management and general $6,765

  • 11c · Fees: accounting

    total $3,500 · management and general $3,500

  • 11f · Fees: investment management

    total $1,899 · management and general $1,899

  • 24a · Other expenses: BANK CHARGES AND PAYROL

    total $5,849 · management and general $5,849

  • 24b · Other expenses: COMMUNITY SERVICE EXPEN

    total $975 · program services $975

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $14,533 · end of year $2,113,592

  • 7 · Other notes and loans receivable

    beginning of year $3,457,134 · end of year $3,457,134

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

    $174,480

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

    $174,480

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $1,170,477 · end of year $752,425

  • 13 · Investments: program-related

    beginning of year $1,344 · end of year $1,204

  • 15 · Other assets

    beginning of year $600,808 · end of year $1,125,833

  • 27 · Net assets without donor restrictions

    beginning of year $5,244,296 · end of year $7,450,188

Mission and programs · 2022

Mission

TO PARTICIPATE AS A GENERAL PARTNER IN MARYDALE PRESERVATION ASSOCIATES, LLC (MPA), A LOW-INCOME HOUSING TAX CREDIT PROJECT. MPA OPERATES MARYDALE RETIREMENT VILLAGE, A HUD-SUBSIDIZED HOUSING PROJECT FOR LOW-INCOME ELDERLY AND HANDICAPPED INDIVIDUALS.

Activities or mission (Part I)

CATHOLIC MINISTRY TO THE ELDERLY, INC. (MINISTRY) WAS INCORPORATED IN THE STATE OF DELAWARE ON JANUARY 6, 1978. HISTORICALLY, THE MINISTRY OWNED AND OPERATED THE MARYDALE RETIREMENT COMMUNITY, A 108-UNIT U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD) SUBSIDIZED HOUSING PROJECT FOR LOW-INCOME ELDERLY AND HANDICAPPED INDIVIDUALS. THE MINISTRY NOW OPERATES THE HOUSING PROJECT AS THE GENERAL PARTNER OF MARYDALE PRESERVATION ASSOCIATES, LLC (MPA).

  • TO PARTICIPATE AS A GENERAL PARTNER IN MARYDALE PRESERVATION ASSOCIATES, LLC (MPA), A LOW-INCOME HOUSING TAX CREDIT PROJECT. MPA OPERATES MARYDALE RETIREMENT VILLAGE, A HUD-SUBSIDIZED HOUSING PROJECT FOR LOW-INCOME ELDERLY AND HANDICAPPED INDIVIDUALS.

    Expenses $198,274 · Revenue $293,297

As filed on the 2022 return.

Listed in Part VII

  • Most Rev William E Koenig

    PRESIDENT

    Total calculated
    $0
    Hours/week
    2 + 35 related

  • Monsignor Steven P Hurley Vg

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • James V Dugar

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Fritz Jones

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Joseph Corsini

    TREASURER

    Total calculated
    $0
    Hours/week
    2 + 35 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.

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.

  • CATHOLIC DIOCESE OF WILMINGTON

    501(C)(3) · RELIGIOUS ACTIVITIES · DE

  • CATHOLIC DIOCESE FOUNDATION

    501(C)(3) · PROMOTES CATHOLIC RELIGION, EDUCATION, AND CHARITY · DE

  • CATHOLIC CEMETERIES

    501(C)(3) · CEMETERY ACTIVITIES · DE

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.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • MARYDALE PRESERVATION ASSOCIATES LLC

    RELATED · RENOVATION AND OPERATION OF THE MARYDALE RETIREMENT VILLAGE FACILITIES. · DE · 0.01% owned · share of income -$166 · share of assets $1,268 · general or managing partner

Provenance

Return type
form_990
Tax year
2022
Filed
28 August 2023
IRS schema version
2022v5.0
Source object
202342489349300744

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