Form 990 for tax year 2023

Filed by TERESIAN HOUSE HOUSING CORPORATION.

Totals

Total revenue: $9,489,699
Total expenses: $9,331,821
Contributions and grants received: $0
Grants paid: $0
Program service revenue: $9,400,266
Investment income: $47,332
Other revenue: $42,101
Total assets, end of year: $30,912,851
Total liabilities, end of year: $50,609,336
Net assets or fund balances, end of year: -$19,696,485
Program services expenses (Part IX): $8,225,681
Management and general expenses: $1,106,140
Fundraising expenses: $0
Program service expenses (Part III): $8,225,681

Program services were 88.1% 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: RESIDENT SERVICE FEES

total $8,035,073 · related or exempt $8,035,073
2b · Program service revenue: ENTRANCE FEES

total $1,198,838 · related or exempt $1,198,838
2c · Program service revenue: OTHER RESIDENTIAL REVE

total $166,355 · related or exempt $166,355
3 · Investment income

total $34,832 · excluded $34,832
7a · Gross sales of assets other than inventory

other assets $13,300
7b · Less cost or other basis and sales expenses

other assets $800
7c · Gain or loss

other assets $12,500
7d · Net gain or loss

total $12,500 · excluded $12,500
11a · Other revenue: MISCELLANEOUS INCOME

total $42,101 · related or exempt $42,101
11e · Other revenue, total

$42,101

Functional expenses

Part IX, the statement of functional expenses.

5 · Compensation of officers, directors and key employees

total $132,944 · program services $106,355 · management and general $26,589
7 · Other salaries and wages

total $1,324,518 · program services $863,324 · management and general $461,194
9 · Other employee benefits

total $268,071 · program services $209,095 · management and general $58,976
10 · Payroll taxes

total $107,031 · program services $69,716 · management and general $37,315
11b · Fees: legal

total $2,729 · management and general $2,729
11c · Fees: accounting

total $169,500 · management and general $169,500
11g · Fees: other

total $2,766,900 · program services $2,742,295 · management and general $24,605
12 · Advertising and promotion

total $113,504 · program services $112,196 · management and general $1,308
13 · Office expenses

total $39,472 · management and general $39,472
16 · Occupancy

total $865,300 · program services $812,785 · management and general $52,515
20 · Interest

total $1,213,657 · program services $1,177,295 · management and general $36,362
22 · Depreciation, depletion and amortization

total $1,276,209 · program services $1,186,874 · management and general $89,335
23 · Insurance

total $199,481 · program services $185,517 · management and general $13,964
24a · Other expenses: EQUIPMENT REPAIRS

total $478,105 · program services $457,613 · management and general $20,492
24b · Other expenses: TELEPHONE & INTERNET

total $189,724 · program services $118,742 · management and general $70,982
24c · Other expenses: RESIDENT SERVICES

total $110,752 · program services $110,752
24d · Other expenses: MISCELLANEOUS

total $59,716 · program services $58,914 · management and general $802
24e · All other expenses

total $14,208 · program services $14,208

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $658,244 · end of year $91,146
4 · Accounts receivable

beginning of year $550,091 · end of year $442,354
9 · Prepaid expenses and deferred charges

beginning of year $181,553 · end of year $33,719
10a · Land, buildings and equipment: cost or other basis

$45,434,163
10b · Land, buildings and equipment: accumulated depreciation

$25,288,084
10c · Land, buildings and equipment, net

beginning of year $21,130,209 · end of year $20,146,079
15 · Other assets

beginning of year $10,857,092 · end of year $10,199,553
17 · Accounts payable and accrued expenses

beginning of year $1,423,890 · end of year $1,147,395
19 · Deferred revenue

beginning of year $414,927 · end of year $78,754
20 · Tax-exempt bond liabilities

beginning of year $10,885,000 · end of year $10,040,000
21 · Escrow or custodial account liability

beginning of year $44,426 · end of year $23,999
23 · Secured mortgages and notes payable

beginning of year $5,027,526 · end of year $4,337,911
24 · Unsecured notes and loans payable

beginning of year $1,687,133 · end of year $1,663,828
25 · Other liabilities

beginning of year $33,887,797 · end of year $33,317,449
27 · Net assets without donor restrictions

beginning of year -$19,993,510 · end of year -$19,696,485

Mission and programs · 2023

Mission

TERESIAN HOUSE HOUSING CORPORATION'S PURPOSE IS THE OPERATION OF HOUSING FACILITIES FOR THE ELDERLY, PRINCIPALLY WITHIN THE GEOGRAPHIC AREA WITHIN THE ROMAN CATHOLIC DIOCESE OF ALBANY.

Activities or mission (Part I)

TERESIAN HOUSE HOUSING CORPORATION'S PURPOSE IS THE OPERATION OF HOUSING FACILTIES FOR THE ELDERLY, PRINCIPALLY WITHIN THE GEOGRAPHIC AREA WITHIN THE ROMAN CATHOLIC DIOCESE OF ALBANY.

THE FUNCTION OF THE TERESIAN HOUSE HOUSING CORPORATION, ALSO KNOW AS, AVILA RETIREMENT COMMUNITY, IS TO PROVIDE RESIDENTS WITH INDEPENDENT LIVING APARTMENTS AND COTTAGES AND TO PROVIDE THE RESIDENTS WITH CENTRAL DINING AND SPACE FOR A VARIETY OF SOCIAL AND RECREATIONAL ACTIVITIES

Expenses $8,225,681 · Revenue $9,442,367

As filed on the 2023 return.

Listed in Part VII

Vincent ColonnoVINCENT COLONNO

TREASURER

Total calculated

$0

Hours/week

2
Kenneth RaymondKENNETH RAYMOND

DIRECTOR

Total calculated

$0

Hours/week

2
Julie Calareso EsqJULIE CALARESO ESQ

DIRECTOR

Total calculated

$0

Hours/week

2
Bob FiskBOB FISK

DIRECTOR

Total calculated

$0

Hours/week

2
Edward McNamaraEDWARD MCNAMARA

DIRECTOR

Total calculated

$0

Hours/week

2
Christine CaryCHRISTINE CARY

DIRECTOR

Total calculated

$0

Hours/week

2
Donna SmithDONNA SMITH

CEO, THRU 8/31/2023

Total calculated

$94,721

From this org

$94,721

From related orgs

$0

Other

$0

Hours/week

40
Kathleen RichardsKATHLEEN RICHARDS

EXECUTIVE DIRECTOR

Total calculated

$38,223

From this org

$38,223

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.

Schedule J

Answered yes

1a · Housing allowance or residence for personal use
1a · Personal services (maid, chauffeur, chef)
3 · Written employment contract
3 · Approval by the board or compensation committee

Answered no

1b · Written policy on the line-1a expenses
2 · Substantiation required before reimbursing expenses
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

No itemized grants to organizations on this return.

Provenance

Return type: form_990
Tax year: 2023
Filed: 14 May 2025
IRS schema version: 2023v6.0
Source object: 202511349349304741

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