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

Scores are not available for this record yet.

Balance Sheet

Assets

Down

$9,096,795

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

Net Assets

Down

$3,176,292

Down $832,819 (-21%) from 2018

Liabilities

Down

$5,920,503

Down $1,637,730 (-22%) from 2018

Revenue And Expenses

Revenue

Down

$491,695

Down $124,116 (-20%) from 2018

Expenses

Down

$673,988

Down $563,490 (-46%) from 2018

Net Income

Up

-$182,293

Up $439,374 (+71%) from 2018

Historical Trend

Balance Sheet Trend

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 2019: $9,096,795Liabilities 2019: $5,920,503Net Assets 2019: $3,176,2922019Assets 2020: $5,502,042Liabilities 2020: $2,402,425Net Assets 2020: $3,099,6172020

Highlighted filing

2019

Assets$9,096,795
Liabilities$5,920,503
Net Assets$3,176,292
Open 2019 Filing

Operations Trend

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 2019: $491,695Expenses 2019: $673,988Net Income 2019: -$182,2932019Revenue 2020: $539,428Expenses 2020: $466,556Net Income 2020: $72,8722020

Highlighted filing

2019

Revenue$491,695
Expenses$673,988
Net Income-$182,293
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
$491,695
Mission and Program Overview

Mission

To provide modern, affordable housing to facilitate aging-in-place by low-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$959,259▲ $3,517
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$329,537▼ $78,080
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$5,920,503▼ $1,637,730
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$4,009,111$3,176,292▼ $832,819
Net Assets With Donor Restrictions$0$0→ $0
Total Net Assets Fund Balance$4,009,111$3,176,292▼ $832,819
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

Employees

NameTitleFull / Part TimeBaseTotal
John G BergChairman TrusteeFT$70,000$70,000
Deborah A WissmanVP Admin - TrusteePT$23,400$23,400
Wayne WissmanBookkeeper-$6,240$6,240
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$491,695
Investment Income
$0
Other Revenue
$0
All Other Contributions
$0
Change in Net Assets
$-182,293
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$610,228
Salaries, Compensation, and Employee Benefits$63,760
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
All Other Expenses$341,225--$341,225
Interest$181,141--$181,141
Pension Plan Contributions$63,760--$63,760
Other Expenses$40,035$0$0$40,035
Fees for Services Management$23,400--$23,400
Insurance$18,187--$18,187
Fees for Services Accounting$6,240--$6,240
Total Functional Expenses$673,988$0$0$673,988
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$959,259▲ $3,517
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, Header, Line B

“correct reporting of Executive Director salary and reverse error in reporting disposition of Account Payable”

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/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/BalanceDueAmt1514226
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/TotalBalanceDueAmt0959259
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0correct reporting of Executive Director salary and reverse error in reporting disposition of Account Payable
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Employment 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/ExplanationTxt2completed form 990 is sent to our tax counsel before publication on our website
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3compensation is affirmatively voted upon by the Trustees
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4form 990 is posted on our website. Other documents must be requested to be seen
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5balance of expenses incurred to provide housing
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Foundation 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, Header, Line B

Document Assets

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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
$5,920,503
Net assets
$3,176,292
Revenue
$491,695
Expenses
$673,988
Net income
-$182,293
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
2019Detailed filing. Detailed filing data is available for this year.$9.10$5.92$3.18$0.49$0.67$0.18
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