Loretto Management Corporation in Syracuse, New York (NY)
| Loretto Management Corporation |
| Employer Identification Number (EIN) | 222873640 |
| Name of Organization | Loretto Management Corporation |
| Address | 700 E Brighton Ave, Syracuse, NY 13205-2201 |
| Activities | Care and housing for the aged (see also 382) |
| Subsection | Charitable Organization |
| Ruling Date | 06/1988 |
| Deductibility | Contributions are deductible |
| Foundation | Organizations operated solely for the benefit of and in conjunction with organizations described in 10 through 16 above |
| Organization | Corporation |
| Exempt Organization Status | Unconditional Exemption |
| Tax Period | 12/2013 |
| Assets | $50,000,000 to greater |
| Income | $10,000,000 to $49,999,999 |
| Filing Requirement | 990 (all other) or 990EZ return |
| Asset Amount | $50,957,443 |
| Amount of Income | $22,028,783 |
| Form 990 Revenue Amount | $19,149,865 |
| National Taxonomy of Exempt Entities (NTEE) | Health - General and Rehabilitative: Nursing, Convalescent Facilities |
Amount of income in 2013: $22,028,783 (it was $27,131,825 in 2012)
| Loretto Management Corporation: | $22,028,783 |
| Other organizations performing similar types of work: | $8,118,616 |
Assets in 2013: $50,957,443 (it was $31,277,598 in 2012)
| Loretto Management Corporation: | $50,957,443 |
| Other organizations performing similar types of work: | $15,685,915 |
Expenses in 2012: $22,182,895
| Loretto Management Corporation: | $22,182,895 |
| Other organizations performing similar types of work: | $6,950,953 |
Income to expenses ratio in 2012: 1.0
| Loretto Management Corporation: | 1.0 |
| Other organizations performing similar types of work: | 1.2 |
Number of employees in 2012: 786
| Loretto Management Corporation: | 786 |
| Other organizations performing similar types of work: | 171 |
Employees paid over $100,000 in 2012: 1.3%
| Loretto Management Corporation: | 1.3% |
| Other organizations performing similar types of work: | 0.0% |
Grants share in income in 2012: 0.0%
| This organization: | 0.0% |
| Other organizations performing similar types of work: | 0.0% |
Functional expenses for 2012
| Statements Regarding Other IRS Filings and Tax Compliance (for 2012) |
| Did the organization have unrelated business gross income of $1,000 or more during the year? | Yes |
| Initiation fees and capital contributions | $0 |
| Gross receipts for public use of club facilities | $0 |
| Gross income from members or shareholders | $0 |
| Gross income from other sources | $0 |
| Statement of Revenue (for 2012) |
| Total revenue | $21,866,409 |
| Contributions, Gifts, Grants and Other Similar Amounts | $0 |
| Program Service Revenue | $15,260,683 |
| Other Revenue |
| Investment income (including dividends, interest, and other similar amounts) | $7,723 |
| Income from investment of tax-exempt bond proceeds | $0 |
| Royalties | $0 |
| Net rental income | $0 |
| Net gain from sales of assets other than inventory | $0 |
| Net income from fundraising events | $0 |
| Net income from gaming activities | $0 |
| Net income from sales of inventory | $6,263,527 |
| Gross sales of inventory, less returns and allowances | $11,528,943 |
| Less: cost of goods sold | $5,265,416 |
| Miscellaneous Revenue | $334,476 |
| Statement of Functional Expenses (for 2012) |
| Total functional expenses | $22,182,895 |
| Compensation of current officers, directors, trustees, and key employees | $0 |
| Other salaries and wages | $9,538,187 |
| Payroll taxes | $759,278 |
| Professional fundraising services | $0 |
| Other | $11,885,430 |
| Balance Sheet (for 2012) |
| Total assets | $31,277,598 |
| Total liabilities | $5,699,331 |
| Tax-exempt bond liabilities | $0 |
| Secured mortgages and notes payable to unrelated third parties | $209,987 |
| Unsecured notes and loans payable to unrelated third parties | $0 |
| Other | $5,489,344 |
| Total net assets or fund balances | $25,578,267 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Reason for Public Charity Status (for 2012) |
| The organization is not a private foundation because it is: | An organization organized and operated exclusively for the benefit of, to perform the functions of, or to carry out the purposes of one or more publicly supported organizations described in section 509(a)(1) or section 509(a)(2) |
| Deductions Not Taken Elsewhere (for 2008) |
| Total deductions | $6,968,678 |
| Compensation of officers, directors, and trustees | $0 |
| Salaries and wages | $5,016,925 |
| Repairs and maintenance | $23,302 |
| Bad debts | $0 |
| Interest | $17,879 |
| Taxes and licenses | $17,854 |
| Charitable contributions | $0 |
| Depreciation | $50,584 |
| Depletion | $0 |
| Contributions to deferred compensation plans | $0 |
| Employee benefit programs | $1,257,236 |
| Excess exempt expenses | $0 |
| Excess readership costs | $0 |
| Other deductions | $584,898 |
| Unrelated business taxable income | $0 |
| Unrelated business taxable income before net operating loss deduction | $15,680 |
| Net operating loss deduction | $15,680 |
| Unrelated business taxable income before specific deduction | $0 |
| Specific deduction | $1,000 |
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| Organizations performing similar types of work |
| Id | Name | Address | State | Established | Total Income |
|---|
| 1 | Loretto Management Corporation | 700 E Brighton Ave, Syracuse, NY 13205-2201 | NY | 1988-06 | $22,028,783 |
| 2 | Lutheran Seniorlife | 1323 Freedom Rd, Cranberry Twp, PA 16066-5001 | PA | 1987-06 | $8,118,616 |
| 3 | Monroe Community Health Services | 700 Stewart Road, Monroe, MI 48162-5304 | MI | 1993-12 | $7,531,213 |
| 4 | Eldercare Housing Foundation | 1603 Lbj Freeway 800, Dallas, TX 75234-6061 | TX | 1991-08 | $0 |
| 5 | Pacific Living Centers Inc | 2100 Douglas Boulevard, Roseville, CA 95661 | CA | 1984-01 | $0 |
| Number of organizations performing similar types of work |
| California | 1 |
| Michigan | 1 |
| New York | 1 |
| |
| Total | 5 |
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