Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Apr 2008.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
90 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
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Who runs it and what they're paid
15 people listed on the 990.
David Glatt’s $6K as Trustee is at the 0th percentile of top reported officer pay among 677 $10–100M housing nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.
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Questions the 990 asks
The form asks each of these directly. These are the filed answers.
- Family or business ties among officersPt VI · Ln 2Yes
- Top official's pay set by an independent reviewPt VI · Ln 15aNo
Programs and updates
Offers ongoing support and care for individuals needing assistance.
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Bethany on 42nd operates as a charitable organization consistent with the requirements of Internal Revenue Code Section 501(c)(3). Bethany on 42nd provides long term care services including skilled nursing care, transitional care, assisted living, and senior housing.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2022 990, line by line.
Download 990
| Line | Start FY22 | End FY22 |
|---|---|---|
| Cash and savingsLn 1–2 | $4.8M | $5.4M |
| InvestmentsLn 11–13 | $1.3M | $1.4M |
| Land, buildings, equipmentLn 10c | $33.2M | $31.5M |
| Total assetsLn 16 | $43.0M | $45.1M |
| LiabilitiesLn 26 | $32.6M | $31.9M |
| Net assetsLn 32 | $10.4M | $13.2M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Other salaries and wagesLn 7 | $9.6M | $8.9M | $717K | |
| Pension plan contributionsLn 8 | $173K | $150K | $23K | |
| Other employee benefitsLn 9 | $931K | $844K | $87K | |
| Payroll taxesLn 10 | $703K | $650K | $53K | |
| Legal feesLn 11b | $19K | $19K | ||
| Accounting feesLn 11c | $12K | $12K | ||
| Other fees for servicesLn 11g | $1.5M | $1.5M | ||
| Advertising and promotionLn 12 | $15K | $15K | ||
| Office expensesLn 13 | $1.6M | $899K | $707K | |
| Information technologyLn 14 | $7K | $7K | ||
| OccupancyLn 16 | $1.1M | $1.1M | ||
| TravelLn 17 | $92K | $92K | ||
| Conferences, conventions and meetingsLn 19 | $29K | $26K | $4K | |
| InterestLn 20 | $934K | $922K | $12K | |
| Depreciation, depletion and amortizationLn 22 | $2.2M | $2.2M | $26K | |
| InsuranceLn 23 | $202K | $202K | ||
| Other expenses (24a–d)Ln 24 | $824K | $684K | $140K | |
| All other expensesLn 24e | $449 | $449 | ||
| Total functional expensesLn 25 | $20.0M | $17.9M | $2.0M | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2024 Latest | $23.2M | $21.0M | $2.1M | $15.7M | 990 PDF |
| FY2023 | $21.0M | $20.6M | $423K | $13.5M | 990 PDF |
| FY2022 Viewing | $23.0M | $20.0M | $3.0M | $13.2M | 990 PDF |
| FY2021 | $19.6M | $18.2M | $1.4M | $10.4M | 990 PDF |
| FY2020 | $19.6M | $17.8M | $1.9M | $9.2M | 990 PDF |
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Schedules filed Part IV
See the full FY2022 990 (4 parts)
Part VIII · Statement of revenue $22,954,614 across 10 lines filed
Part IX · Statement of functional expenses $19,973,493 across 18 lines filed
Part X · Balance sheet $45,131,106 assets, 16 lines filed
Part XI · Reconciliation of net assets $13,189,776 net assets at year end
Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File
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