Civic Intelligence

Foundation for Eldercare

990 • Fiscal year 2019 • EIN 26-4755439

Jan 01, 2019 to Dec 31, 2019 • Filed on Apr 27, 2020

Organization Profilefoundationeldercare.org
1 Dunminning RdNewtown Square, PA 19073

(610) 520-1100

Siviq Scores

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

Liabilities / Assets

80th percentile

0.58x

Higher debt load relative to assets than 80% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Liabilities / Revenue

95th percentile

5.58x

Higher debt load relative to revenue than 95% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Net Margin

86th percentile

36%

Higher net margin than 86% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Top Officer Pay

22nd percentile

$19,800

Higher top officer pay than 22% of similar nonprofits.

Top officer pay equals 2.1% of source-year revenue.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Asset Growth

4th percentile

-21%

Faster asset growth than 4% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Revenue Growth

90th percentile

53%

Faster revenue growth than 90% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets80th percentile

Assets

Down

$9,096,795

Down $2,470,549 (-21%) from 2018

Net Assets

Down

$3,846,292

Down $162,819 (-4.1%) from 2018

Liabilities

Down

$5,250,503

Down $2,307,730 (-31%) from 2018

Revenue And Expenses
Liabilities / Revenue95th percentileNet Margin86th percentile

Revenue

Up

$941,695

Up $325,884 (+53%) from 2018

Expenses

Down

$603,988

Down $633,490 (-51%) from 2018

Net Income

Up

$337,707

Up $959,374 (+154%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth4th percentile

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

$15M$10M$5.0M$0Assets 2014: $2,498,345Liabilities 2014: $2,058,844Net Assets 2014: $439,5012014Assets 2016: $11,149,684Liabilities 2016: $6,324,757Net Assets 2016: $4,824,9272016Assets 2017: $11,967,309Liabilities 2017: $7,339,904Net Assets 2017: $4,627,4052017Assets 2018: $11,567,344Liabilities 2018: $7,558,233Net Assets 2018: $4,009,1112018Assets 2019: $9,096,795Liabilities 2019: $5,250,503Net Assets 2019: $3,846,2922019Assets 2020: $5,502,042Liabilities 2020: $2,402,425Net Assets 2020: $3,099,6172020

Highlighted filing

2019

Assets$9,096,795
Liabilities$5,250,503
Net Assets$3,846,292
Open 2019 Filing

Operations Trend

Revenue Growth90th percentile

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2014: $159,665Expenses 2014: $131,663Net Income 2014: $28,0022014Revenue 2016: $4,802,965Expenses 2016: $513,832Net Income 2016: $4,289,1332016Revenue 2017: $565,132Expenses 2017: $520,715Net Income 2017: $44,4172017Revenue 2018: $615,811Expenses 2018: $1,237,478Net Income 2018: -$621,6672018Revenue 2019: $941,695Expenses 2019: $603,988Net Income 2019: $337,7072019Revenue 2020: $539,428Expenses 2020: $466,556Net Income 2020: $72,8722020

Highlighted filing

2019

Revenue$941,695
Expenses$603,988
Net Income$337,707
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Apr 27, 2020
Return Version
2019v5.0
Gross Receipts
$941,695
Mission and Program Overview

Mission

To provide modern, affordable housing to facilitate aging-in-place by middle-income senior citizens.

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

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$11,522,250$9,065,494▼ $2,456,756
Loans From Officers Directors$955,742$449,259▼ $506,483
Cash and Non-Interest-Bearing Accounts$42,023$31,301▼ $10,722
Savings and Temporary Cash Investments$7,681--
Prepaid Expenses and Deferred Charges$-4,610--
Total Assets$11,567,344$9,096,795▼ $2,470,549
Liabilities
Mortgage Notes Payable Secured by Investment Property$6,060,753$4,602,752▼ $1,458,001
Accounts Payable and Accrued Expenses$407,617$169,537▼ $238,080
Escrow Account Liability$49,128$28,442▼ $20,686
Unsecured Notes Loans Payable$84,993$513▼ $84,480
Other Liabilities-$0-
Total Liabilities$7,558,233$5,250,503▼ $2,307,730
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$4,009,111$3,846,292▼ $162,819
Net Assets With Donor Restrictions$0$0→ $0
Total Net Assets Fund Balance$4,009,111$3,846,292▼ $162,819
Total Liabilities and Net Assets / Fund Balance$11,567,344$9,096,795▼ $2,470,549

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$3,663,437$0$0
Other Land Buildings$0$0$0
Land$5,201,343-$0
Equipment$535$0$0
Leasehold Improvements$200,179$0$0
Compensation and Service Providers
Top Officer Pay22nd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Deborah A WissmanVP Admin - TrusteePT$19,800$19,800

Board Members and Trustees

NameTitle
John G BergChairman Trustee
Revenue and Support

Revenue Composition

Contributions and Grants
$450,000
Program Service Revenue
$491,695
Investment Income
$0
Other Revenue
$0
All Other Contributions
$450,000
Change in Net Assets
$337,707
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$603,988
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
All Other Expenses$341,225--$341,225
Interest$181,141--$181,141
Other Expenses$40,035$0$0$40,035
Fees for Services Management$23,400--$23,400
Insurance$18,187--$18,187
Total Functional Expenses$603,988$0$0$603,988
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

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$955,742$449,259▼ $506,483
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Audit committee
No
Backup withholding compliance
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
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 B, Line 11B

“completed form 990 is sent to our tax counsel before publication on our website”

Form 990, Part VI, Section B, Line 15

“compensation is affirmatively voted upon by the Trustees”

Form 990, Part VI, Section C, Line 19

“form 990 is posted on our website. Other documents must be requested to be seen”

Filing and Contact Details

Filer

Filer Name
Foundation for Eldercare
EIN
26-4755439
Phone
6105201100
Address
1 Dunminning Rd, Newtown Square, PA 19073
Doing Business As
Senior Housing Alternative

Signing Officer

Name
John Berg
Title
Executive Director
Phone
6105201100
Signed
2020-04-27

Organization Details

Principal Officer
John G Berg
Formed
2009
Legal Domicile
Pa
Voting Board Members
2
Independent Board Members
2
Employees
2
Volunteers
0
Supplemental Narrative

Additional Explanations

Form 990, Part V, Line 2A

“Employment varies with the work being done during any reporting period. For instance: Foundation had been using an independent accountant for it's bookkeeping services since no construction was being conducted during the reporting period. It is contemplated that employment will increase to 11 persons when the USDA loan is closed and the residential building lots are acquired. In that circumstance Foundation will employ a clerk of the works (bookkeeper); a superintendent for the job sites and several laborers and other skilled craftsmen.”

Form 990, Part IX, Line 24E

“balance of expenses incurred to provide housing”

Form 990, Part XI, Line 9

“Foundation surrendered twelve rental houses owned in Montgomery County, PA to two credit unions when it lost an appeal in the Commonwealth Court of PA from a decision imposing real estate taxes on Foundation”

Financial Statement Notes

Schedule D, Part IV, Line 1B

“Foundation collects and holds security deposits from residential tenants”

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IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearAmt00
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus1YearAmt00
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus2YearsAmt00
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus3YearsAmt00
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus4YearsAmt00
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/CurrentTaxYearMinus1YearAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/CurrentTaxYearMinus3YearsAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/TotalAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/CurrentTaxYearAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/CurrentTaxYearMinus1YearAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/CurrentTaxYearMinus2YearsAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/CurrentTaxYearMinus3YearsAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/CurrentTaxYearMinus4YearsAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/ThirtyThrPctSuprtTestsPY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0945158
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0615811
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0704476
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt04764733
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0416195
IRS990ScheduleA/Total509Grp/TotalAmt07446373
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0450000
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt00
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0237144
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt04413000
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt00
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt05100144
IRS990ScheduleA/TotalSupportAmt05100144
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0945158
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0615811
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0704476
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt04764733
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0416195
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt07446373
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/CurrentTaxYearMinus3YearsAmt00
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/AdditionsDuringYearAmt00
IRS990ScheduleD/AgentTrusteeEtcInd01
IRS990ScheduleD/BeginningBalanceAmt049128
IRS990ScheduleD/BuildingsGrp/BookValueAmt03663437
IRS990ScheduleD/BuildingsGrp/DepreciationAmt00
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt03663437
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/DistributionsDuringYearAmt020679
IRS990ScheduleD/EndingBalanceAmt028449
IRS990ScheduleD/EquipmentGrp/BookValueAmt0535
IRS990ScheduleD/EquipmentGrp/DepreciationAmt00
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt0535
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd00
IRS990ScheduleD/LandGrp/BookValueAmt05201343
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt05201343
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0200179
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/InvestmentCostOrOtherBasisAmt0200179
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Foundation collects and holds security deposits from residential tenants
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule D, Part IV, Line 1b
IRS990ScheduleD/TotalBookValueLandBuildingsAmt09065494
IRS990/ScheduleJRequiredInd00
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt0400013
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt14226
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt245020
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd01
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd11
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd21
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd00
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd10
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd20
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt0operations
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt1operations
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt2deferred gain on sale to Foundation in 2016
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanToOrganizationInd0X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanToOrganizationInd1X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanToOrganizationInd2X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt0400013
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt1562647
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt243082
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm0Rocco J Crescenzo
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm1John G Berg
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm2Deborah A Wissman
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt0former Trustee
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt1Trustee, Executive Director
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt2trustee, Admin VP
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd00
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd11
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd20
IRS990ScheduleL/TotalBalanceDueAmt0449259
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Employment varies with the work being done during any reporting period. For instance: Foundation had been using an independent accountant for it's bookkeeping services since no construction was being conducted during the reporting period. It is contemplated that employment will increase to 11 persons when the USDA loan is closed and the residential building lots are acquired. In that circumstance Foundation will employ a clerk of the works (bookkeeper); a superintendent for the job sites and several laborers and other skilled craftsmen.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1completed form 990 is sent to our tax counsel before publication on our website
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2compensation is affirmatively voted upon by the Trustees
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3form 990 is posted on our website. Other documents must be requested to be seen
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4balance of expenses incurred to provide housing
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Foundation surrendered twelve rental houses owned in Montgomery County, PA to two credit unions when it lost an appeal in the Commonwealth Court of PA from a decision imposing real estate taxes on Foundation
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part V, Line 2a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, Line 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part XI, Line 9
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0PA
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$9,096,795
Liabilities
$5,250,503
Net assets
$3,846,292
Revenue
$941,695
Expenses
$603,988
Net income
$337,707
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2020Detailed filing. Detailed filing data is available for this year.$5.50$2.40$3.10$0.54$0.47$0.07
2019Detailed filing. Detailed filing data is available for this year.$9.10$5.25$3.85$0.94$0.60$0.34
2018Detailed filing. Detailed filing data is available for this year.$11.6$7.56$4.01$0.62$1.24$0.62
2017Detailed filing. Detailed filing data is available for this year.$12.0$7.34$4.63$0.57$0.52$0.04
2016Detailed filing. Detailed filing data is available for this year.$11.1$6.32$4.82$4.80$0.51$4.29
2014Detailed filing. Detailed filing data is available for this year.$2.50$2.06$0.44$0.16$0.13$0.03