Foundation for Eldercare FY2019 filing

IRS exemption revoked

Newtown Square, PAUnknown exempt organizationEIN 26-4755439Revenue $492K in FY2019

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.

100¢ of each $1 spent went to programs.
$100K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Programs: Part IX · Pay: Part VII

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FY2019 · 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
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$100K
to officers and key staff · 15% of spending
Looks good: pay to officers and key staff is 15% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.6 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$5.9M
65% of total assets
Fine: liabilities are 65% of assets; 50% to 65%.
Pt X · Ln 26
Independent board members
2
of 2 voting members
Looks good: 2 of 2 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$492K
Spent
$674K
To programs
100%
Net assets
$3.2M
By yearFY2019–FY2020
Revenue
$492K
FY2019
Tap a bar for its year
Revenue by fiscal year
FY2019$492K
FY2020$539K
Expenses
$674K
FY2019
Tap a bar for its year
Expenses by fiscal year
FY2019$674K
FY2020$467K
Net assets
$3.2M
FY2019
Tap a bar for its year
Net assets by fiscal year
FY2019$3.2M
FY2020$3.1M

From the FY2019 Form 990 · see the original

990 PDF Claim
IRS revoked this organization's tax-exempt status on May 15, 2024
You’re viewing the FY2019 filing — not the latest on file. See the latest (FY2020) →

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

100 cents of each dollar spent went to programs.

Program services 100% · $674K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

3 people listed on the 990; $100K paid to officers and key staff.

Part VII, Section A · reportable compensation
Chairman Trustee
$70,000Pt VII · Sec A
VP Admin - Trustee
$23,400Pt VII · Sec A
Bookkeeper
$6,240Pt 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.

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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
  • Loans to or from officersSch L · Pt II3 listed

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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3 programs · $674K · in their own filed words · FY2019
01

Foundation continued engineering on the newly acquired 40-acre tract in Elkton, MD and achieved 100% rent-up of its existing homes. Foundation also entered into several agreements which, in the aggregate, will allow Foundation to build and sell 93 low income houses in Somerset County, MD and Sussex County, DE.

$674Kprogram expense
02

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
03

no expenses incurred

Pt IX · col B

By the numbers

The FY2019 990, line by line.

1The main four
Money inPt VIII
$492K
Ln 12
Fees for servicesLn 2g$492K
Money outPt IX
$674K
Ln 25
Programscol B$674K
Owns and owesPt X
$3.2M
net assets · Ln 32
Cash and savingsLn 1–2$31K
Total assetsLn 16$9.1M
LiabilitiesLn 26$5.9M
PeoplePt VI, VII
3
listed · VII A
PaidVII A3
Voting boardVI 1a2
IndependentVI 1b2
2In more detail
Revenue in detailPt VIII
Government grantsLn 1e$0
Noncash giftsLn 1g$0
Fundraising eventsLn 1c$0
Fees for servicesLn 2g$492K
Total revenueLn 12$492K
Assets in detailPt X, end of year
CashLn 1$31K
Cash and savings togetherLn 1–2$31K
Land, buildings, equipmentLn 10c$9.1M
Total assetsLn 16$9.1M
LiabilitiesLn 26$5.9M
Net assetsLn 32$3.2M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY19End FY19
Cash and savingsLn 1–2$42K$31K
Land, buildings, equipmentLn 10c$11.5M$9.1M
Total assetsLn 16$11.6M$9.1M
LiabilitiesLn 26$7.6M$5.9M
Net assetsLn 32$4.0M$3.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0$0
Grants to domestic individualsLn 2$0$0
Grants and assistance to foreign recipientsLn 3$0$0
Benefits paid to or for membersLn 4$0$0
Pay of current officers, directors and key staffLn 5$0$0
Pay of disqualified personsLn 6$0$0
Pension plan contributionsLn 8$64K$64K
Management feesLn 11a$23K$23K
Accounting feesLn 11c$6K$6K
InterestLn 20$181K$181K
InsuranceLn 23$18K$18K
Other expenses (24a–d)Ln 24$40K$40K$0$0
All other expensesLn 24e$341K$341K
Total functional expensesLn 25$674K$674K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2020 Latest $539K$467K$73K$3.1M 990 PDF
FY2019 Viewing $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 FY2019 990 (6 parts)
Part I · Summary $491,695 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $615,811$491,695
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $615,811$491,695
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $13,800$63,760
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $1,223,678$610,228
I-18 Total expensesPrior year $1,237,478$673,988
I-19 Revenue less expensesPrior year −$621,667−$182,293
Part VI · Governance 2 of 2 board members independent, 2 to look at
VI-1a Voting members of the governing body2
VI-1b Independent voting members2
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $491,695 across 10 lines filed
VIII-1a Federated campaigns$0
VIII-1b Membership dues$0
VIII-1c Fundraising events$0
VIII-1d Related organizations$0
VIII-1e Government grants$0
VIII-1f All other contributions, gifts and grants$0
VIII-1g Noncash contributions (included above)$0
VIII-1h Total contributions, gifts and grants$0
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $491,695 · Unrelated business $0 · Excluded from tax $0$491,695
VIII-12 Total revenueRelated to mission $491,695 · Unrelated business $0 · Excluded from tax $0$491,695
Part IX · Statement of functional expenses $673,988 across 13 lines filed
IX-1 Grants to domestic organizationsPrograms $0$0
IX-2 Grants to domestic individualsPrograms $0$0
IX-3 Grants and assistance to foreign recipientsPrograms $0$0
IX-4 Benefits paid to or for membersPrograms $0$0
IX-5 Pay of current officers, directors and key staffPrograms $0$0
IX-6 Pay of disqualified personsPrograms $0$0
IX-8 Pension plan contributionsPrograms $63,760$63,760
IX-11a Management feesPrograms $23,400$23,400
IX-11c Accounting feesPrograms $6,240$6,240
IX-20 InterestPrograms $181,141$181,141
IX-23 InsurancePrograms $18,187$18,187
IX-24 Other expenses (24a–d)Programs $40,035 · Management $0 · Fundraising $0$40,035
IX-24e All other expensesPrograms $341,225$341,225
IX-25 Total functional expensesPrograms $673,988 · Management $0 · Fundraising $0$673,988
Part X · Balance sheet $9,096,795 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $42,023$31,301
X-10c Land, buildings and equipment, netStart of year $11,522,250$9,065,494
X-16 Total assetsStart of year $11,567,344$9,096,795
X-17 Accounts payable and accrued expensesStart of year $407,617$329,537
X-24 Unsecured notes and loans payableStart of year $84,993$513
X-25 Other liabilities$0
X-26 Total liabilitiesStart of year $7,558,233$5,920,503
X-27 Net assets without donor restrictionsStart of year $4,009,111$3,176,292
X-28 Net assets with donor restrictionsStart of year $0$0
X-32 Total net assets or fund balancesStart of year $4,009,111$3,176,292
X-33 Total liabilities and net assetsStart of year $11,567,344$9,096,795
Part XI · Reconciliation of net assets $3,176,292 net assets at year end
XI-1 Total revenue$491,695
XI-2 Total expenses$673,988
XI-3 Revenue less expenses−$182,293
XI-4 Net assets at start of year$4,009,111
XI-5 Net unrealized gains (losses) on investments$0
XI-6 Donated services and use of facilities$0
XI-7 Investment expenses$0
XI-8 Prior period adjustments$0
XI-9 Other changes in net assets−$650,526
XI-10 Net assets at end of year$3,176,292

Form 990 e-file (XML) FY2019 from the IRS · Classification, formation year and address from the IRS Business Master File

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