Civic Intelligence

Methodist Towers Inc.

990 • Fiscal year 2022 • EIN 23-7213451

Oct 01, 2021 to Sep 30, 2022 • Filed on Jan 29, 2024

Organization ProfileN/A
707 Sassafras StreetErie, PA 16501-1009

(814) 456-1783

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

8th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Liabilities / Revenue

8th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Net Margin

29th percentile

-1.6%

Higher net margin than 29% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Top Officer Pay

29th percentile

$68,862

Higher top officer pay than 29% of similar nonprofits.

Top officer pay equals 1.0% of source-year revenue.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Asset Growth

6th percentile

-21%

Faster asset growth than 6% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Revenue Growth

99th percentile

747%

Faster revenue growth than 99% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets8th percentile

Assets

Down

$655,560

Down $169,895 (-21%) from 2021

Net Assets

Down

$655,560

Down $107,638 (-14%) from 2021

Liabilities

Down

$0

Down $62,257 (-100%) from 2021

Revenue And Expenses
Liabilities / Revenue8th percentileNet Margin29th percentile

Revenue

Up

$6,868,643

Up $6,057,554 (+747%) from 2021

Expenses

Up

$6,976,281

Up $6,173,541 (+769%) from 2021

Net Income

Down

-$107,638

Down $115,987 (-1389%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth6th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$1.0M$500K$0Assets 2010: $936,730Liabilities 2010: $464,417Net Assets 2010: $472,3132010Assets 2011: $803,187Liabilities 2011: $304,685Net Assets 2011: $498,5022011Assets 2012: $721,370Liabilities 2012: $133,653Net Assets 2012: $587,7172012Assets 2013: $735,338Liabilities 2013: $105,275Net Assets 2013: $630,0632013Assets 2014: $684,778Liabilities 2014: $73,361Net Assets 2014: $611,4172014Assets 2015: $696,016Liabilities 2015: $86,562Net Assets 2015: $609,4542015Assets 2016: $668,310Liabilities 2016: $82,103Net Assets 2016: $586,2072016Assets 2017: $706,089Liabilities 2017: $97,280Net Assets 2017: $608,8092017Assets 2018: $694,875Liabilities 2018: $86,877Net Assets 2018: $607,9982018Assets 2019: $662,776Liabilities 2019: $55,851Net Assets 2019: $606,9252019Assets 2020: $817,198Liabilities 2020: $62,349Net Assets 2020: $754,8492020Assets 2021: $825,455Liabilities 2021: $62,257Net Assets 2021: $763,1982021Assets 2022: $655,560Liabilities 2022: $0Net Assets 2022: $655,5602022Assets 2025: $651,773Liabilities 2025: $0Net Assets 2025: $651,7732025

Highlighted filing

2022

Assets$655,560
Liabilities$0
Net Assets$655,560
Open 2022 Filing

Operations Trend

Revenue Growth99th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$8.0M$6.0M$4.0M$2.0M$0-$2.0MExpenses 2010: $669,7002010Expenses 2011: $692,3402011Expenses 2012: $633,8562012Expenses 2013: $615,2632013Revenue 2014: $653,513Expenses 2014: $672,159Net Income 2014: -$18,6462014Revenue 2015: $674,158Expenses 2015: $676,121Net Income 2015: -$1,9632015Revenue 2016: $661,927Expenses 2016: $685,174Net Income 2016: -$23,2472016Revenue 2017: $716,733Expenses 2017: $694,131Net Income 2017: $22,6022017Revenue 2018: $744,612Expenses 2018: $745,423Net Income 2018: -$8112018Revenue 2019: $709,287Expenses 2019: $710,360Net Income 2019: -$1,0732019Revenue 2020: $852,817Expenses 2020: $704,893Net Income 2020: $147,9242020Revenue 2021: $811,089Expenses 2021: $802,740Net Income 2021: $8,3492021Revenue 2022: $6,868,643Expenses 2022: $6,976,281Net Income 2022: -$107,6382022Revenue 2025: $28,006Expenses 2025: $23,315Net Income 2025: $4,6912025

Highlighted filing

2022

Revenue$6,868,643
Expenses$6,976,281
Net Income-$107,638
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2021 to Sep 30, 2022
Signed
Jan 29, 2024
Return Version
2021v4.2
Gross Receipts
$7,329,715
Mission and Program Overview

Mission

To provide for affordable housing for low income and meet the physical, social and psychological needs of the elderly

To provide affordable rental housing and related facilities and services specially designed to meet the physical, social, and psychological needs of the elderly.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities-$502,928-
Land, Buildings, and Equipment, Net$223,267$0▼ $223,267
Cash and Non-Interest-Bearing Accounts$7,463$126,828▲ $119,365
Savings and Temporary Cash Investments$44,304$0▼ $44,304
Prepaid Expenses and Deferred Charges$34,177$0▼ $34,177
Accounts Receivable$15,102$0▼ $15,102
Total Assets$825,455$655,560▼ $169,895
Other Assets Total$501,142$25,804▼ $475,338
Liabilities
Escrow Account Liability$48,849$0▼ $48,849
Accounts Payable and Accrued Expenses$9,984$0▼ $9,984
Deferred Revenue$3,424$0▼ $3,424
Total Liabilities$62,257$0▼ $62,257
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$763,198$655,560▼ $107,638
Total Net Assets Fund Balance$763,198$655,560▼ $107,638
Total Liabilities and Net Assets / Fund Balance$825,455$655,560▼ $169,895

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$502,928--
Compensation and Service Providers
Top Officer Pay29th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Darlene WinickiExecutive DirectorFT$60,504$8,358$68,862

Board Members and Trustees

NameTitle
John BartlettPresident
Bruce BernardDirector
Corrine ThomasDirector
Linda DonatiDirector
Marguerite JonesDirector
Mary CapmbellDirector
Rev James ParkinsonDirector
Robert RodgersDirector
Ronald NormanDirector
Trudy SmithDirector
James ReimTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$127,025
Program Service Revenue
$399,661
Investment Income
$6,341,957
Other Revenue
$0
Change in Net Assets
$-107,638
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$6,868,339
Salaries, Compensation, and Employee Benefits$107,942
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$156,576$10,000-$166,576
Other Salaries and Wages$70,456$1,438-$71,894
Fees for Services Legal-$30,258-$30,258
Current Officers, Directors, Trustees, and Key Employees$12,016$13,017-$25,033
Depreciation Depletion$21,368--$21,368
Office Expenses$19,632--$19,632
Insurance$13,955--$13,955
Payroll Taxes$7,137$979-$8,116
Other Employee Benefits$2,549$350-$2,899
Advertising$2,188--$2,188
Fees for Services Accounting-$1,094-$1,094
Other Expenses$136$45-$136
Total Functional Expenses$391,100$6,585,181$0$6,976,281
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Jim ReimBoard TreasurerCommissions on Sale of AnnuitiesNo$6,750
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
Yes
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 8B

“The board of directors is the governing body. There are no underlying committees.”

Form 990, Part VI, Section B, Line 11B

“990 is reviewed by the executive director along with the cpa who prepared the return.”

Form 990, Part VI, Section B, Line 15A

“The organization's budget is prepared by the executive director. Included within the budget is the executive director's proposed salary. The budget runs in direct correlation with the number of apartment rentals and vacancies. In order to facilitate independent discussion regarding the executive director's salary, the board asks her to leave the meeting room. Final board approval is made without her presence.”

Form 990, Part VI, Section C, Line 19

“The organization makes it's governing documents and financial statements available upon verbal request.”

Filing and Contact Details

Filer

Filer Name
Methodist Towers Inc
EIN
23-7213451
Phone
8144561783
Address
707 SASSAFRAS STREET, ERIE, PA 16501-1009

Signing Officer

Name
James Reim
Title
Board Treasurer
Phone
8144561783
Signed
2024-01-29
Discuss with paid preparer
Yes

Organization Details

Principal Officer
James Reim
Formed
1968
Legal Domicile
Pa
Voting Board Members
11
Independent Board Members
11
Employees
7
Volunteers
11

Preparer

Firm
Mcgill Power Bell & Associates Llp
Address
2402 WEST 8TH STREET, ERIE, PA 16505
Preparer
Shawn P Emerson
Phone
8144536594
Supplemental Narrative

Financial Statement Notes

PART IV, LINE 2B:

“Security deposits held on behalf of residents.”

PART X, LINE 2:

“The project is exempt from income tax under section 501(c)(3) of the internal revenue code. Interest and penalties related to tax reporting are recognized when incurred and are included as administrative expenses in the statements of activities and changes in net assets. There were no interest or penalties incurred related to tax reporting for the year ended september 30, 2021. The project's tax returns are subject to audit by various taxing authorities. The project follows the topic of income taxes from the financial accounting standards board, accounting standards codification ("fasb asc") with regard to the accounting and recognition of income tax positions taken or expected to be taken in the project's tax returns.”

Raw XML AppendixShowing 400 of 448 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

Path#Value
IRS990/AccountantCompileOrReviewInd00
IRS990/AccountsPayableAccrExpnssGrp/BOYAmt09984
IRS990/AccountsPayableAccrExpnssGrp/EOYAmt00
IRS990/AccountsReceivableGrp/BOYAmt015102
IRS990/AccountsReceivableGrp/EOYAmt00
IRS990/ActivitiesConductedPrtshpInd00
IRS990/ActivityOrMissionDesc0TO PROVIDE AFFORDABLE RENTAL HOUSING AND RELATED FACILITIES AND SERVICES SPECIALLY DESIGNED TO MEET THE PHYSICAL, SOCIAL, AND PSYCHOLOGICAL NEEDS OF THE ELDERLY.
IRS990/AddressChangeInd0X
IRS990/AdvertisingGrp/ProgramServicesAmt02188
IRS990/AdvertisingGrp/TotalAmt02188
IRS990/BooksInCareOfDetail/BusinessName/BusinessNameLine1Txt0JAMES REIM
IRS990/BooksInCareOfDetail/PhoneNum08144561783
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt0707 SASSAFRAS STREET
IRS990/BooksInCareOfDetail/USAddress/CityNm0ERIE
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0PA
IRS990/BooksInCareOfDetail/USAddress/ZIPCd016501
IRS990/BusinessRlnWith35CtrlEntInd00
IRS990/BusinessRlnWithFamMemInd00
IRS990/BusinessRlnWithOrgMemInd01
IRS990/CashNonInterestBearingGrp/BOYAmt07463
IRS990/CashNonInterestBearingGrp/EOYAmt0126828
IRS990/ChangeToOrgDocumentsInd00
IRS990/CntrctRcvdGreaterThan100KCnt00
IRS990/CollectionsOfArtInd00
IRS990/CompCurrentOfcrDirectorsGrp/ManagementAndGeneralAmt013017
IRS990/CompCurrentOfcrDirectorsGrp/ProgramServicesAmt012016
IRS990/CompCurrentOfcrDirectorsGrp/TotalAmt025033
IRS990/CompensationFromOtherSrcsInd00
IRS990/CompensationProcessCEOInd01
IRS990/CompensationProcessOtherInd00
IRS990/ConflictOfInterestPolicyInd00
IRS990/ConservationEasementsInd00
IRS990/ConsolidatedAuditFinclStmtInd00
IRS990/ContractTerminationInd0X
IRS990/CreditCounselingInd01
IRS990/CYBenefitsPaidToMembersAmt00
IRS990/CYContributionsGrantsAmt0127025
IRS990/CYGrantsAndSimilarPaidAmt00
IRS990/CYInvestmentIncomeAmt06341957
IRS990/CYOtherExpensesAmt06868339
IRS990/CYOtherRevenueAmt00
IRS990/CYProgramServiceRevenueAmt0399661
IRS990/CYRevenuesLessExpensesAmt0-107638
IRS990/CYSalariesCompEmpBnftPaidAmt0107942
IRS990/CYTotalExpensesAmt06976281
IRS990/CYTotalFundraisingExpenseAmt00
IRS990/CYTotalProfFndrsngExpnsAmt00
IRS990/CYTotalRevenueAmt06868643
IRS990/DecisionsSubjectToApprovaInd00
IRS990/DeductibleArtContributionInd00
IRS990/DeductibleNonCashContriInd00
IRS990/DeferredRevenueGrp/BOYAmt03424
IRS990/DeferredRevenueGrp/EOYAmt00
IRS990/DelegationOfMgmtDutiesInd00
IRS990/DepreciationDepletionGrp/ProgramServicesAmt021368
IRS990/DepreciationDepletionGrp/TotalAmt021368
IRS990/Desc0APARTMENT BUILDING OPERATES TO PROVIDE HOUSNG FOR THE ELDERLY AND OPERATED UNDER THE TERMS OF THE US DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT REGULATORY AGREEMENT UNTIL THE MORTGAGE BALANCE WAS ZERO. METHODIST TOWERS HOUSES APPROXIMATLEY 130 RESIDENCES YEAR ROUND.
IRS990/DescribedInSection501c3Ind01
IRS990/DisregardedEntityInd00
IRS990/DocumentRetentionPolicyInd00
IRS990/DonorAdvisedFundInd00
IRS990/DonorRstrOrQuasiEndowmentsInd00
IRS990/ElectionOfBoardMembersInd00
IRS990/EmployeeCnt07
IRS990/EmploymentTaxReturnsFiledInd01
IRS990/EngagedInExcessBenefitTransInd00
IRS990/EscrowAccountLiabilityGrp/BOYAmt048849
IRS990/EscrowAccountLiabilityGrp/EOYAmt00
IRS990/ExpenseAmt0382128
IRS990/FamilyOrBusinessRlnInd00
IRS990/FederalGrantAuditRequiredInd00
IRS990/FeesForServicesAccountingGrp/ManagementAndGeneralAmt01094
IRS990/FeesForServicesAccountingGrp/TotalAmt01094
IRS990/FeesForServicesLegalGrp/ManagementAndGeneralAmt030258
IRS990/FeesForServicesLegalGrp/TotalAmt030258
IRS990/ForeignActivitiesInd00
IRS990/ForeignFinancialAccountInd00
IRS990/ForeignOfficeInd00
IRS990/Form8282PropertyDisposedOfInd00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt01.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt11.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt21.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt31.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt41.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt51.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt61.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt71.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt81.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt91.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt101.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt1137.50
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd0X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd1X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd2X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd3X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd4X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd5X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd6X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd7X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd8X
IRS990/Form990PartVIISectionAGrp/OfficerInd0X
IRS990/Form990PartVIISectionAGrp/OfficerInd1X
IRS990/Form990PartVIISectionAGrp/OfficerInd2X
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt00
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt10
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt20
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt30
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt40
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt50
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt60
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt70
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt80
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt90
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt100
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt118358
IRS990/Form990PartVIISectionAGrp/PersonNm0BRUCE BERNARD
IRS990/Form990PartVIISectionAGrp/PersonNm1CORRINE THOMAS
IRS990/Form990PartVIISectionAGrp/PersonNm2LINDA DONATI
IRS990/Form990PartVIISectionAGrp/PersonNm3RONALD NORMAN
IRS990/Form990PartVIISectionAGrp/PersonNm4ROBERT RODGERS
IRS990/Form990PartVIISectionAGrp/PersonNm5TRUDY SMITH
IRS990/Form990PartVIISectionAGrp/PersonNm6MARGUERITE JONES
IRS990/Form990PartVIISectionAGrp/PersonNm7REV JAMES PARKINSON
IRS990/Form990PartVIISectionAGrp/PersonNm8MARY CAPMBELL
IRS990/Form990PartVIISectionAGrp/PersonNm9JAMES REIM
IRS990/Form990PartVIISectionAGrp/PersonNm10JOHN BARTLETT
IRS990/Form990PartVIISectionAGrp/PersonNm11DARLENE WINICKI
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt1160504
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt110
IRS990/Form990PartVIISectionAGrp/TitleTxt0DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt1DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt10PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt11EXECUTIVE DIRECTOR
IRS990/Form990ProvidedToGvrnBodyInd00
IRS990/FormationYr01968
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedInd00
IRS990/FundraisingActivitiesInd00
IRS990/GainOrLossGrp/OtherAmt06338928
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt011
IRS990/GovernmentGrantsAmt0127025
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossAmountSalesAssetsGrp/OtherAmt06800000
IRS990/GrossReceiptsAmt07329715
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd00
IRS990/IndependentAuditFinclStmtInd00
IRS990/IndependentVotingMemberCnt011
IRS990/IndivRcvdGreaterThan100KCnt00
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InsuranceGrp/ProgramServicesAmt013955
IRS990/InsuranceGrp/TotalAmt013955
IRS990/InvestmentIncomeGrp/ExclusionAmt03029
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt03029
IRS990/InvestmentInJointVentureInd00
IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt0502928
IRS990/IRPDocumentCnt00
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt00
IRS990/LandBldgEquipBasisNetGrp/BOYAmt0223267
IRS990/LandBldgEquipBasisNetGrp/EOYAmt00
IRS990/LandBldgEquipCostOrOtherBssAmt00
IRS990/LegalDomicileStateCd0PA
IRS990/LessCostOthBasisSalesExpnssGrp/OtherAmt0461072
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd00
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0TO PROVIDE AFFORDABLE RENTAL HOUSING AND RELATED FACILITIES AND SERVICES SPECIALLY DESIGNED TO MEET THE PHYSICAL, SOCIAL, AND PSYCHOLOGICAL NEEDS OF THE ELDERLY.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt0763198
IRS990/NetAssetsOrFundBalancesEOYAmt0655560
IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt06338928
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt06338928
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt0763198
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt0655560
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ManagementAndGeneralAmt010000
IRS990/OccupancyGrp/ProgramServicesAmt0156576
IRS990/OccupancyGrp/TotalAmt0166576
IRS990/OfficeExpensesGrp/ProgramServicesAmt019632
IRS990/OfficeExpensesGrp/TotalAmt019632
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt0501142
IRS990/OtherAssetsTotalGrp/EOYAmt025804
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt0350
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt02549
IRS990/OtherEmployeeBenefitsGrp/TotalAmt02899
IRS990/OtherExpensesGrp/Desc0RESERVE AGAINST NOTE RE
IRS990/OtherExpensesGrp/Desc1CONTRACTS
IRS990/OtherExpensesGrp/Desc2MISCELLANEOUS EXPENSES
IRS990/OtherExpensesGrp/Desc3KITCHEN SUPPLIES
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt06528000
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt145
IRS990/OtherExpensesGrp/ProgramServicesAmt080261
IRS990/OtherExpensesGrp/ProgramServicesAmt14826
IRS990/OtherExpensesGrp/ProgramServicesAmt2136
IRS990/OtherExpensesGrp/TotalAmt06528000
IRS990/OtherExpensesGrp/TotalAmt180261
IRS990/OtherExpensesGrp/TotalAmt24871
IRS990/OtherExpensesGrp/TotalAmt3136
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt01438
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt070456
IRS990/OtherSalariesAndWagesGrp/TotalAmt071894
IRS990/PartialLiquidationInd01
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt0979
IRS990/PayrollTaxesGrp/ProgramServicesAmt07137
IRS990/PayrollTaxesGrp/TotalAmt08116
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt034177
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/PrincipalOfficerNm0JAMES REIM
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0532000
IRS990/ProgramServiceRevenueGrp/Desc0RENT INCOME
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0399661
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0399661
IRS990/ProgSrvcAccomActy2Grp/Desc0A RESIDENT SERVICE COORDINATOR LINKS RESIDENTS TO EXISTING SERVICES AND RESOURCES IN THE COMMUNITY, ASSISTS RESIDENTS TO BUILD AN INFORMAL SUPPORT NETWORK AMOUNG THEMSELVES, ENCOURAGES RESIDENTS TO BE PROACTIVE IN MEETING THEIR SOCIAL, PSYCHOLOGICAL AND PHYSICAL NEEDS. THE RESIDENT SERVICE COORDINATOR AIDES IN THE ABILITY OF TENANTS TO UPHOLD THEIR LEASE OBLIGATIONS SUCH AS PAYING THEIR RENT ON TIME, TAKING PROPER CARE OF THEIR UNIT AND ENSURING QUIET ENJOYMENT OF THE PROPERTY FOR ALL RESIDENTS AND SURROUNDING NEIGHBORS.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt08972
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt00
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0203897
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0223
IRS990/PYOtherExpensesAmt0585205
IRS990/PYOtherRevenueAmt0-493
IRS990/PYProgramServiceRevenueAmt0607462
IRS990/PYRevenuesLessExpensesAmt08349
IRS990/PYSalariesCompEmpBnftPaidAmt0217535
IRS990/PYTotalExpensesAmt0802740
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0811089
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt0-107638
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd01
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0399661
IRS990/SavingsAndTempCashInvstGrp/BOYAmt044304
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0MISCELLANEOUS INCOME - 2019 AMOUNT: $ 6,165. 2020 AMOUNT: $ -493. 2021 AMOUNT: $ 0.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME:
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0127025
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0203897
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0214053
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0138020
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0194729
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0877724
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt03029
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt0223
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt0185
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt0395
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt0323
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt04155
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt02167505
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus1YearAmt0-493
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus2YearsAmt06165
IRS990ScheduleA/OtherIncome170Grp/TotalAmt05672
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.98890
IRS990ScheduleA/PublicSupportPY170Pct00.99230
IRS990ScheduleA/PublicSupportTotal170Amt0877724
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0127025
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0203897
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0214053
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0138020
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0194729
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0877724
IRS990ScheduleA/TotalSupportAmt0887551
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/AgentTrusteeEtcInd01
IRS990ScheduleD/ExplanationProvidedInd0X
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd01
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt0502928
IRS990ScheduleD/OtherSecuritiesGrp/Desc0FIXED ANNUITIES
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0F
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0SECURITY DEPOSITS HELD ON BEHALF OF RESIDENTS.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1THE PROJECT IS EXEMPT FROM INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. INTEREST AND PENALTIES RELATED TO TAX REPORTING ARE RECOGNIZED WHEN INCURRED AND ARE INCLUDED AS ADMINISTRATIVE EXPENSES IN THE STATEMENTS OF ACTIVITIES AND CHANGES IN NET ASSETS. THERE WERE NO INTEREST OR PENALTIES INCURRED RELATED TO TAX REPORTING FOR THE YEAR ENDED SEPTEMBER 30, 2021. THE PROJECT'S TAX RETURNS ARE SUBJECT TO AUDIT BY VARIOUS TAXING AUTHORITIES. THE PROJECT FOLLOWS THE TOPIC OF INCOME TAXES FROM THE FINANCIAL ACCOUNTING STANDARDS BOARD, ACCOUNTING STANDARDS CODIFICATION ("FASB ASC") WITH REGARD TO THE ACCOUNTING AND RECOGNITION OF INCOME TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN THE PROJECT'S TAX RETURNS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART IV, LINE 2B:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalBookValueSecuritiesAmt0502928
IRS990/ScheduleJRequiredInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm0JIM REIM
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0BOARD TREASURER
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt06750
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0COMMISSIONS ON SALE OF ANNUITIES
IRS990ScheduleN/DirectorOfSuccessor2Ind00
IRS990ScheduleN/DispositionOfAssetsDetail/AssetsDistriOrExpnssPaidDesc0BUILDING AND FURNISHINGS
IRS990ScheduleN/DispositionOfAssetsDetail/BusinessName/BusinessNameLine1Txt0ROCHESTER'S CORNERSTONE GROUP LTD
IRS990ScheduleN/DispositionOfAssetsDetail/DistributionDt02022-03-23
IRS990ScheduleN/DispositionOfAssetsDetail/FairMarketValueOfAssetAmt0461072
IRS990ScheduleN/DispositionOfAssetsDetail/IRCSectionTxt0LIMITED PARTNERSHIP
IRS990ScheduleN/DispositionOfAssetsDetail/MethodOfFMVDeterminationTxt0NET BOOK VALUE
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/AddressLine1Txt0460 WHITE SPRUCE BLVD
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/CityNm0ROCHESTER
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/StateAbbreviationCd0NY
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/ZIPCd014623
IRS990ScheduleN/EmployeeOfSuccessor2Ind00
IRS990ScheduleN/OwnerOfSuccessor2Ind00
IRS990ScheduleN/ReceiveCompensation2Ind00
IRS990ScheduleN/SupplementalInformationDetail/ExplanationTxt0METHODIST TOWERS SOLD ITS BUILDING ON MARCH 23, 2022, TO ROCHESTER CORNERSTONE GROUP VIA A LIMITED PARTNERSHIP. THE TOTAL CONSIDERATION FOR THE BUILDING AND ITS CONTENTS WAS $6,800,000. THE BUILDING NEEDED SIGNIFICANT REPAIRS SINCE THE ELEVATOR, WASTEWATER PIPES, HYDRONIC PIPES AND OTHER SEGMENTS OF THE BUILDING WERE ROUGHLY 48 YEARS OLD. METHODIST RECEIVED A SELLERS CARRYBACK NOTE FOR 6,528,000 AND FIRST RIGHT OF REFUSAL TO PURCHASE THE BUILDING AFTER 15 YEARS. METHODIST TOWERS INTENDS TO REMAIN A 501C3 NONPROFIT ORGANIZATION WITH THE INTENTION OF EXERCISING THE FIRST RIGHT OF REFUSAL. BASED ON THE UNCERTAINTY OF THE SELLER NOTE AFTER 15 YEARS, THE ORGANIZATION HAS RECORDED A RESERVE AGAINST THE SELLER NOTE FOR 6,528,000 AS SEPTEMBER 30, 2022.
IRS990ScheduleN/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, SCHEDULE N, PART II, LINE 1
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE BOARD OF DIRECTORS IS THE GOVERNING BODY. THERE ARE NO UNDERLYING COMMITTEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1990 IS REVIEWED BY THE EXECUTIVE DIRECTOR ALONG WITH THE CPA WHO PREPARED THE RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION'S BUDGET IS PREPARED BY THE EXECUTIVE DIRECTOR. INCLUDED WITHIN THE BUDGET IS THE EXECUTIVE DIRECTOR'S PROPOSED SALARY. THE BUDGET RUNS IN DIRECT CORRELATION WITH THE NUMBER OF APARTMENT RENTALS AND VACANCIES. IN ORDER TO FACILITATE INDEPENDENT DISCUSSION REGARDING THE EXECUTIVE DIRECTOR'S SALARY, THE BOARD ASKS HER TO LEAVE THE MEETING ROOM. FINAL BOARD APPROVAL IS MADE WITHOUT HER PRESENCE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION MAKES IT'S GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE UPON VERBAL REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0825455
IRS990/TotalAssetsEOYAmt0655560
IRS990/TotalAssetsGrp/BOYAmt0825455
IRS990/TotalAssetsGrp/EOYAmt0655560
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0127025
IRS990/TotalEmployeeCnt07
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt06585181
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0391100
IRS990/TotalFunctionalExpensesGrp/TotalAmt06976281
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt062257
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt062257
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0763198
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0655560
IRS990/TotalOtherCompensationAmt08358
IRS990/TotalProgramServiceExpensesAmt0391100
IRS990/TotalProgramServiceRevenueAmt0399661
IRS990/TotalReportableCompFromOrgAmt060504
IRS990/TotalRevenueGrp/ExclusionAmt06341957
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0399661
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt06868643
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$655,560
Liabilities
$0
Net assets
$655,560
Revenue
$6,868,643
Expenses
$6,976,281
Net income
-$107,638
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.65$0.00$0.65$0.03$0.02$0.00
2022Detailed filing. Detailed filing data is available for this year.$0.66$0.00$0.66$6.87$6.98$0.11
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.83$0.06$0.76$0.81$0.80$0.01
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.82$0.06$0.75$0.85$0.70$0.15
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.66$0.06$0.61$0.71$0.71$0.00
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.69$0.09$0.61$0.74$0.75$0.00
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.71$0.10$0.61$0.72$0.69$0.02
2016Detailed filing. Detailed filing data is available for this year.$0.67$0.08$0.59$0.66$0.69$0.02
2015Detailed filing. Detailed filing data is available for this year.$0.70$0.09$0.61$0.67$0.68$0.00
2014Detailed filing. Detailed filing data is available for this year.$0.68$0.07$0.61$0.65$0.67$0.02
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.74$0.11$0.63$0.62
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.72$0.13$0.59$0.63
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.80$0.30$0.50$0.69
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.94$0.46$0.47$0.67
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2022 filings • 501(c)3 • $5M-$10M nonprofits