MDBM-DRAKE SENIOR HOUSING CORPORATION

EIN: 362296657 501(c)(3) Housing & Shelter

FARMINGTON HILLS, MI

Total Revenue
$1,421,526
Total Expenses
$1,186,911
Total Assets
$1,674,848
Net Assets
$-1,721,855
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2007
Legal Domicile
MI
Principal Officer
ELIZABETH GOLESKI
Phone
2486266100
Tax Period
2023-01-01 to 2023-12-31

MDBM-DRAKE SENIOR HOUSING CORPORATION, founded in 2007, is a community nonprofit in the Housing & Shelter sector that reported $1.4M in total revenue in fiscal year 2023. Revenue grew 11% year-over-year, indicating healthy expansion. The organization ran a surplus of $235K, a strong 17% operating margin.

Mission

TO PROVIDE LOW INCOME HOUSING TO THE ELDERLY.

Program Service Accomplishments

Program 1
Expenses: $1,056,176 Revenue: $424,405

THE ORGANIZATION ESTABLISHED AND OPERATED HOMES IN SOUTHEASTERN MICHIGAN WHERE THE AGED MAY BE CARED FOR IN COMFORTABLE SURROUNDINGS AND AMID COMPANIONSHIP AND AN ENVIRONMENT OF CHRISTIAN PEOPLE.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $996,220
Program Service Revenue $424,405
Investment Income $359
Other Revenue $542
TOTAL REVENUE $1,421,526

Expense Breakdown

Grants Paid $0
Salaries & Benefits $373,244
Fundraising Expenses $0
Program Expenses $1,056,176
Other Expenses $813,667
TOTAL EXPENSES $1,186,911

Year-over-Year Comparison

2023 2022 Change
Revenue $1,421,526 $1,284,352 +0.1%
Expenses $1,186,911 $1,277,529 -0.1%
Net Income $234,615 $6,823 +33.4%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Liquidity & Cash Position

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Governance

Voting Members
6
Independent Members
2
Employees
N/A
Volunteers
N/A

Governance Policies

✓ Conflict of Interest Policy
✓ Whistleblower Policy
✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
⚠ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
3
$384,561
Total Directors
6
$690,408
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ANDREW SCOTT TREASURER 0.25
Officer Director
$0 $0 $0
ELIZABETH GOLESKI CEO/PRESIDENT 1.00
Officer Director
$0 $12,962 $253,230
RYAN GOLESKI DEVELOPMENT DIRECTOR 1.00
Director
$0 $20,580 $184,385
SRIDEVI NISTALA SECRETARY/CORPORATE DIR. OF FINANCE 10.00
Officer Director
$0 $18,507 $131,331
RYAN DOELLE HOUSING DIRECTOR 10.00
Director
$0 $19,592 $121,462
KALPESH PATEL DIRECTOR 0.25
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $1,421,526 $1,186,911 $1,674,848 $234,615
2022 $1,284,352 $1,277,529 $1,571,875 $6,823
2021 $981,471 $1,079,732 $1,832,185 $-98,261
2020 $975,653 $1,088,966 $1,964,870 $-113,313
2019 $975,376 $1,067,261 $1,967,309 $-91,885
2018 $937,318 $1,060,895 $2,204,102 $-123,577
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