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Nonprofiteer
← CRESCENTCARE HOLDINGS INC

Form 990 for tax year 2023

Filed by CRESCENTCARE HOLDINGS INC.

Totals

Total revenue
$444,667
Total expenses
$1,381,904
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$443,836
Investment income
$831
Other revenue
$0
Total assets, end of year
$13,567,774
Total liabilities, end of year
$19,980,528
Net assets or fund balances, end of year
-$6,412,754
Program services expenses (Part IX)
$939,572
Management and general expenses
$438,841
Fundraising expenses
$3,491
Program service expenses (Part III)
$939,572

Program services were 68.0% 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.

  • 2a · Program service revenue: PROGRAM RENT INCOME

    total $443,836 · related or exempt $443,836

  • 3 · Investment income

    total $831 · excluded $831

Functional expenses

Part IX, the statement of functional expenses.

  • 11c · Fees: accounting

    total $11,400 · management and general $11,400

  • 11g · Fees: other

    total $45,000 · management and general $45,000

  • 13 · Office expenses

    total $13 · management and general $13

  • 20 · Interest

    total $225,447 · management and general $225,447

  • 22 · Depreciation, depletion and amortization

    total $1,100,044 · program services $939,572 · management and general $156,981 · fundraising $3,491

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $255,762

  • 2 · Savings and temporary cash investments

    beginning of year $50,696 · end of year $42,627

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,409 · end of year $1,409

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

    $19,946,209

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

    $6,677,656

  • 10c · Land, buildings and equipment, net

    beginning of year $14,368,596 · end of year $13,268,553

  • 15 · Other assets

    end of year $255,185

  • 17 · Accounts payable and accrued expenses

    beginning of year $192,298

  • 23 · Secured mortgages and notes payable

    beginning of year $19,959,682 · end of year $19,980,528

  • 27 · Net assets without donor restrictions

    beginning of year -$5,475,517 · end of year -$6,412,754

Mission and programs · 2023

Mission

TO PARTICIPATE IN A REAL ESTATE TRANSACTION IN A LOW-INCOME COMMUNITY AS PART OF THE NEW MARKETS TAX CREDIT PROGRAM.

Activities or mission (Part I)

TO CONSTRUCT AND HOLD REAL ESTATE IN A LOW-INCOME COMMUNITY AS PART OF THE NEW MARKETS TAX CREDIT.

  • CRESCENTCARE HOLDINGS, INC. (HOLDINGS) WAS FORMED BY THE ORGANIZATION AS A SEPARATE 501(C)(3) ENTITY IN ORDER TO FACILITATE THE CONSTRUCTION OF A NEW 65,000 SQUARE FOOT FACILITY AT 1631 ELYSIAN FIELDS IN NEW ORLEANS THAT OPENED IN DECEMBER 2018 TO SERVE AS THE HEADQUARTERS AND CLINIC OPERATIONS OF CRESCENTCARE.

    Expenses $939,572 · Revenue $443,836

As filed on the 2023 return.

Listed in Part VII

  • Alice Riener

    CEO

    Total calculated
    $249,313
    From this org
    $0
    From related orgs
    $197,219
    Other
    $52,094
    Hours/week
    1 + 50 related

    Schedule J breakdown matched by us

    Base
    not reported + $197,219 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported + $32,623 related
    Nontaxable benefits
    not reported + $19,471 related
    Filer's total
    not reported + $249,313 related

  • Sergio Farfan

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Dorian Gray-Alexander

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Jenny Jones

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

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)

SCHEDULE J, PART III
PART I, LINE 3 THE CEO'S COMPENSATION IS DETERMINED BY CRESCENTCARE, A RELATED ORGANIZATION. THE FOLLOWING ARE USED BY CRESCENTCARE IN DETERMINING THE CEO'S COMPENSATION: - COMPENSATION COMMITTEE - COMPENSATION SURVEY OR STUDY - INDEPENDENT COMPENSATION CONSULTANT - 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.

Provenance

Return type
form_990
Tax year
2023
Filed
17 March 2025
IRS schema version
2023v6.0
Source object
202500799349301945

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