Primrose Apartments INC EIN 46-3510845 Form 990 (PDF) Claim this org

Primrose Apartments INC

Not yet claimed Claim this org →

Provides affordable housing for low-income seniors. For fiscal year 2024 it reported $287K in revenue, $450K in expenses, and $-858K in net assets.Pt I

Type
Public charity (501(c)(3)) · Housing
Location
Sharon, PA
Website
www.capmercer.org
Filings
5 on file (2020–2024)
Revenue
$287KFY2024
Expenses
$450K
Net assets
$-858K
People
8
Filings
5
Updates
0
More identity details & actions ⌄
EIN  46-3510845 Public charity (501(c)(3)) Sharon, PA
Form 990 (PDF)
Compare with another nonprofit →
Is this your organization?
Claim this profile to manage it and share your story.
Claim
Provided by the organization

This section is blank until Primrose Apartments INC claims this page.

Know this organization? Claim it to add your story

Size
$100K–1M
What they do
Provides affordable housing for low-income seniors.
Leadership
Karen Winner Sed · Vice-President
Money in and out
$287K revenue, $450K expenses
Bottom line
83% program efficiency
Where the money goes · FY2024
Total revenue
$287K
Pt VIII · Ln 12
Total expenses
$450K
Pt IX · Ln 25
Net assets
$-858K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$163K
Where spending went · Part IX cols B–D
Program services $0.83 Management & general $0.17
Program efficiency
83%
of spending reaches programs▼ -5% vs prior filing year
Operating runway
0.1mo
months of highly liquid reserves at operating expense rate▼ -67% vs prior filing year
Surplus margin
-57%
revenue over expenses, this year▲ +3% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$287K
FY2024▲ +7%
Expenses
$450K
FY2024▲ +6%
Total assets
$5.0M
FY2024▼ -3%
Total liabilities
$5.8M
FY2024▲ +0.6%
Total revenue
$287K
Pt VIII · Ln 12
Total expenses
$450K
Pt IX · Ln 25
Net assets
$-858K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$163K
Total assetsPt X · Ln 16$5.0M
Program-expense ratioPt IX · col B83%
Voting members of governing bodyPt I · Ln 36
Independent voting membersPt I · Ln 46

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CPrimrose Apartments INC
EINHdr · item D46-3510845
Principal addressHdr · item CSharon, PA
WebsiteHdr · item Jwww.capmercer.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MPA
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFHousing (L22)
Ruling yearIRS BMFOct 2013

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a6
Independent voting membersPt VI · Ln 1b6
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Vice-President
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Primrose Apartments INC executive salaries →

Are you one of these people? Claim this org to confirm your role

Mission & Programs · Part III

Where the work happens

1 program service account for $372K of program spending, described in the organization's own filed words · FY2023.
01

To provide elderly persons and handicapped persons with housing facilities and services specially designed to meet their physical, social, and psychological needs, and to promote their health, security, happiness, and usefulness in longer living. Operates apartment building in north versalles, pa with 40 units.

$372Kprogram expense

Run this program? Claim this org to tell your story

Statement of Revenue

Part VIII
Program service revenue$280K · 98%
Other revenue$6K · 2%
Program service revenue98%$280K
Other revenue2%$6K
Investment income$1K
Total revenueLn 12$287K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.83 Management & general $0.17
Program services83%$372K
Management & general17%$78K
Total functional expensesLn 25$450K

Balance Sheet

Part X · end of year
CashLn 1$6K
Total assetsLn 16$5.0M
Total liabilitiesLn 26$5.8M
Total net assetsLn 32$-858K
Months of cash on handcomputed0.1

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $6K · Operating expenses/yr $450K
0.1 months
Where the money goes
Program services
Program services $372K · Total expenses $450K
83%
Management & General
Management & general $78K · Total expenses $450K
17%
Fundraising
Fundraising $0 · Total expenses $450K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $0
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $0 · Total revenue $287K
0%
Government reliance
Government grants — · Total revenue $287K
Earned-income share
Program service revenue $280K · Total revenue $287K
98%
Investment reliance
Investment income $1K · Total revenue $287K
+0.4%
Program self-sufficiency
Program service revenue $280K · Total expenses $450K
62%
Growth & trend
Revenue growth (YoY)
This year $287K · Prior year $268K
+7%
Revenue CAGR
FY2019 $269K · FY2023 $287K
+2%
Net-asset trend (YoY)
End of year $-858K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $287K · Expenses $450K
-57%
Liabilities-to-Assets
Total liabilities — · Total assets $5.0M
Net-asset ratio
Net assets $-858K · Total assets $5.0M
-17%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $5.0M
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Karen Winner Sed · Reported title VICE-PRESIDENT · Highest reported compensation $0 · Total expenses $450K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $57K · Total expenses $450K
13%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 83%
Overhead ratio 17%
Revenue growth 7%
Accounting fee ratio 3%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Similar Organizations

Closest in mission — by what they do
See all organizations like Primrose Apartments INC →

Compare

Search another nonprofit to view revenue, expenses, assets, key metrics, and leaders side by side

Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$287K revenue · viewing · ⤓ 990 PDF
FY2023$268K revenue · ⤓ 990 PDF
FY2022$263K revenue · ⤓ 990 PDF
FY2021$267K revenue · ⤓ 990 PDF
FY2020$269K revenue · ⤓ 990 PDF

Want to add your own materials alongside these filings? Claim this org

Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
Names, privacy, and removal requests More

The names, titles, and compensation shown on this page are reproduced from IRS Form 990 filings, which are public records.

Philanthropy.org does not alter the content of those filings. All information appears exactly as reported by the filing organization for the tax year shown.

We publish only information contained in the public IRS filing — and less than the filing contains. Our profile pages do not display street addresses, telephone numbers, personal email addresses, or other personal contact information, even where the filing includes them.

Many people share the same name. A name shown on this page reflects only what one organization reported in one IRS filing for one tax year. It should not be interpreted as identifying any other individual with the same or a similar name.

If you are no longer affiliated with the organization, your name will generally stop appearing in future IRS filings once the organization no longer reports you. Pages for tax years in which you were reported remain published because those filings remain part of the public record.

Philanthropy.org does not alter or remove IRS filing records. Removing a page from this website would not remove the underlying IRS filing, which remains publicly available from the IRS and other publishers of the same information.

If you believe the IRS filing itself is inaccurate, corrections must be made by the filing organization or the IRS directly.

If you ARE the filing organization, claim this org and add context

Made it to the end? Claim this organization

All figures are derived from public IRS Form 990 filings and are presented without evaluation of any organization. philanthropy.org does not rate, score, or rank organizations, including the peer-cohort and compensation comparisons above.