Foundation for Eldercare

IRS exemption revoked

Newtown Square, PAUnknown exempt organizationEIN 26-4755439Revenue $539K in FY2020

On file with the IRSfoundationeldercare.org1 Dunminning Rd · Newtown Square, PA

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To provide safe, modern affordable housing to facilitate aging-in-place capability by low-income, handicapped and senior citizens.

28¢ of each $1 spent went to programs.
$244K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Programs: Part IX · Pay: Part VII

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FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
Revoked
IRS exemption revoked
Concern: the IRS revoked its tax exemption.
IRS Auto-Revocation List
Latest return
FY2020
latest Form 990
Concern: the latest return is for FY2020, 6 tax years back; more than 4 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 2
filings with a surplus
Average deficit $55K a year · 11% of revenue · last 2 filings
Worth a look: a surplus in 1 of the last 2 filings.
Pt I · Ln 19 · 2 filings
Spent on programs
28%
of spending
Concern: 28% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$244K
to officers and key staff · 52% of spending
Concern: pay to officers and key staff is 52% of spending; over 30%.
Pt VII · Sec A
Cash reserves
2 mo
of spending, in cash
Fine: 2.1 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$2.4M
44% of total assets
Looks good: liabilities are 44% of assets; 50% or less.
Pt X · Ln 26
Independent board members
0
of 2 voting members
Concern: none of 2 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$539K
+10% vs prior year
Spent
$467K
To programs
28%
Net assets
$3.1M
By yearFY2019–FY2020
Revenue
$539K
FY2020▲ +10%
Tap a bar for its year
Revenue by fiscal year
FY2019$492K
FY2020$539K
Expenses
$467K
FY2020▼ -31%
Tap a bar for its year
Expenses by fiscal year
FY2019$674K
FY2020$467K
Net assets
$3.1M
FY2020▼ -2%
Tap a bar for its year
Net assets by fiscal year
FY2019$3.2M
FY2020$3.1M

From the FY2020 Form 990 · see the original

990 PDF Claim
IRS revoked this organization's tax-exempt status on May 15, 2024

Is it real?

No. The IRS revoked its tax exemption. Latest filing on record: FY2020.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

28 cents of each dollar spent went to programs.

Program services 28% · $131K Management & general 72% · $335K

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

4 people listed on the 990; $244K paid to officers and key staff.

Part VII, Section A · reportable compensation
Chairman Trustee
$100,000Pt VII · Sec A
Chairman Trustee
$100,000Pt VII · Sec A
VP Admin - Trustee
$22,063Pt VII · Sec A
VP Admin - Trustee
$22,063Pt VII · Sec A

Compensation history total reportable pay by year · 3 named individuals · Part VII

NameFY2020FY2019
John G Berg$100,000$70,000
Deborah a Wissman$22,063$23,400
Wayne Wissman—$6,240

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Foundation for Eldercare executive salaries →

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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 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Builds safe, affordable homes for low-income seniors and people with disabilities.

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Provided by the organization

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4 programs · $263K · in their own filed words · FY2020
01

Foundation scaled down its existing housing operations in Pennsylvania throughout TY 2020, finally disposing of all income producing houses by September 2020. Foundation was able to transfer all of the houses without financial liability for the tax liens which, when added to mortgage balances, exceeded the market value of the houses.

$131Kprogram expense
02

Foundation scaled down its existing housing operations in Pennsylvania throughout TY 2020, finally disposing of all income producing houses by September 2020. Foundation was able to transfer all of the houses without financial liability for the tax liens which, when added to mortgage balances, exceeded the market value of the houses.

$131Kprogram expense
03

this sum reflects continued engineering and legal expenses required for the continued effort to obtain final subdivsion approval for the 40-acres of land in Cecil County MD

Pt IX · col B
04

this sum reflects continued engineering and legal expenses required for the continued effort to obtain final subdivsion approval for the 40-acres of land in Cecil County MD

Pt IX · col B

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$539K
Ln 12
Fees for servicesLn 2g$293K
Other incomeLn 4–11$241K
Gifts and grantsLn 1h$5K
Money outPt IX
$467K
Ln 25
Programscol B$131K
Managementcol C$335K
Owns and owesPt X
$3.1M
net assets · Ln 32
Cash and savingsLn 1–2$82K
Total assetsLn 16$5.5M
LiabilitiesLn 26$2.4M
PeoplePt VI, VII
4
listed · VII A
PaidVII A4
Voting boardVI 1a2
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$5K
Fees for servicesLn 2g$293K
Other incomeLn 4–11$241K
Total revenueLn 12$539K
Assets in detailPt X, end of year
Cash and savings togetherLn 1–2$82K
Total assetsLn 16$5.5M
LiabilitiesLn 26$2.4M
Net assetsLn 32$3.1M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2020 Latest Viewing $539K$467K$73K$3.1M 990 PDF
FY2019 $492K$674K−$182K$3.2M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2020 990 (1 part)
Part VI · Governance 0 of 2 board members independent, 2 to look at
VI-1a Voting members of the governing body2
VI-1b Independent voting members0
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-15a Process for setting top official's payYes

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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