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← TERESIAN HOUSE HOUSING CORPORATION

Form 990 for tax year 2022

Filed by TERESIAN HOUSE HOUSING CORPORATION.

Totals

Total revenue
$9,188,316
Total expenses
$8,458,055
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$9,116,146
Investment income
$57,029
Other revenue
$15,141
Total assets, end of year
$33,377,189
Total liabilities, end of year
$53,370,699
Net assets or fund balances, end of year
-$19,993,510
Program services expenses (Part IX)
$7,505,422
Management and general expenses
$952,633
Fundraising expenses
$0
Program service expenses (Part III)
$7,505,422

Program services were 88.7% 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 $7,395,115 · related or exempt $7,395,115

  • 2b · Program service revenue: ENTRANCE FEES

    total $1,459,229 · related or exempt $1,459,229

  • 2c · Program service revenue: OTHER RESIDENTIAL REVE

    total $261,802 · related or exempt $261,802

  • 3 · Investment income

    total $32,999 · excluded $32,999

  • 7a · Gross sales of assets other than inventory

    other assets $73,530

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

    other assets $49,500

  • 7c · Gain or loss

    other assets $24,030

  • 7d · Net gain or loss

    total $24,030 · excluded $24,030

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $15,141 · related or exempt $15,141

  • 11e · Other revenue, total

    $15,141

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $113,264 · program services $90,611 · management and general $22,653

  • 7 · Other salaries and wages

    total $1,343,916 · program services $914,760 · management and general $429,156

  • 9 · Other employee benefits

    total $195,385 · program services $152,400 · management and general $42,985

  • 10 · Payroll taxes

    total $107,113 · program services $72,550 · management and general $34,563

  • 11b · Fees: legal

    total $2,755 · management and general $2,755

  • 11c · Fees: accounting

    total $167,900 · management and general $167,900

  • 11g · Fees: other

    total $2,390,192 · program services $2,378,484 · management and general $11,708

  • 12 · Advertising and promotion

    total $161,126 · program services $157,104 · management and general $4,022

  • 13 · Office expenses

    total $43,652 · management and general $43,652

  • 16 · Occupancy

    total $904,724 · program services $841,393 · management and general $63,331

  • 20 · Interest

    total $878,068 · program services $862,402 · management and general $15,666

  • 22 · Depreciation, depletion and amortization

    total $1,091,546 · program services $1,091,546

  • 23 · Insurance

    total $196,904 · program services $183,121 · management and general $13,783

  • 24a · Other expenses: EQUIPMENT REPAIRS

    total $434,552 · program services $415,634 · management and general $18,918

  • 24b · Other expenses: TELEPHONE & INTERNET

    total $189,689 · program services $117,534 · management and general $72,155

  • 24c · Other expenses: RESIDENT SERVICES

    total $112,044 · program services $112,044

  • 24d · Other expenses: MISCELLANEOUS

    total $108,965 · program services $99,579 · management and general $9,386

  • 24e · All other expenses

    total $16,260 · program services $16,260

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $650,890 · end of year $658,244

  • 4 · Accounts receivable

    beginning of year $284,404 · end of year $550,091

  • 9 · Prepaid expenses and deferred charges

    beginning of year $176,771 · end of year $181,553

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

    $45,203,878

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

    $24,073,669

  • 10c · Land, buildings and equipment, net

    beginning of year $21,774,595 · end of year $21,130,209

  • 15 · Other assets

    beginning of year $4,346,995 · end of year $10,857,092

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,080,051 · end of year $1,423,890

  • 19 · Deferred revenue

    beginning of year $31,625 · end of year $414,927

  • 20 · Tax-exempt bond liabilities

    beginning of year $11,695,000 · end of year $10,885,000

  • 21 · Escrow or custodial account liability

    beginning of year $125,520 · end of year $44,426

  • 23 · Secured mortgages and notes payable

    beginning of year $5,020,000 · end of year $5,027,526

  • 24 · Unsecured notes and loans payable

    beginning of year $1,716,087 · end of year $1,687,133

  • 25 · Other liabilities

    beginning of year $28,371,766 · end of year $33,887,797

  • 27 · Net assets without donor restrictions

    beginning of year -$20,806,394 · end of year -$19,993,510

Mission and programs · 2022

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 $7,505,422 · Revenue $9,131,287

As filed on the 2022 return.

Listed in Part VII

  • Michael Costello Esq

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Vincent Colonno

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Kenneth Raymond

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Bishop Edward Scharfenberger

    PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • Father David Lefort

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Julie Calareso Esq

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Bob Fisk

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Edward McNamara

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Christine Cary

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Donna Smith

    CEO, (THRU 8/31/23)

    Total calculated
    $123,138
    From this org
    $113,264
    From related orgs
    $0
    Other
    $9,874
    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.

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.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

Provenance

Return type
form_990
Tax year
2022
Filed
13 May 2024
IRS schema version
2022v5.0
Source object
202411349349304181

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