CATHOLIC MINISTRY TO THE ELDERLY

EIN: 510255891 501(c)(3) Human Services

NEWARK, DE

Total Revenue
$399,121
Total Expenses
$375,506
Total Assets
$5,606,256
Net Assets
$5,606,256
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1978
Legal Domicile
DE
Principal Officer
JOSEPH CORSINI
Phone
3025733105
Tax Period
2024-07-01 to 2025-06-30

CATHOLIC MINISTRY TO THE ELDERLY, founded in 1978, is a small nonprofit in the Human Services sector that reported $399K in total revenue in fiscal year 2024. Revenue decreased 16% compared to the prior year. Expenses of $376K left a modest 6% surplus.

Mission

CATHOLIC MINISTRY TO THE ELDERLY, INC. (MINISTRY) WAS INCORPORATED IN THE STATE OF DELAWARE ON JANUARY 6, 1978. HISTORICALLY, THE MINISTRY OWNED AND OPERATED THE MARYDALE RETIREMENT COMMUNITY, A 108-UNIT U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD) SUBSIDIZED HOUSING PROJECT FOR LOW-INCOME ELDERLY AND HANDICAPPED INDIVIDUALS. THE MINISTRY NOW OPERATES THE HOUSING PROJECT AS THE GENERAL PARTNER OF MARYDALE PRESERVATION ASSOCIATES, LLC (MPA).

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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 (2024)

Revenue Breakdown

Contributions & Grants $12,260
Program Service Revenue $348,151
Investment Income $38,710
Other Revenue $0
TOTAL REVENUE $399,121

Expense Breakdown

Grants Paid $0
Salaries & Benefits $269,533
Fundraising Expenses $0
Program Expenses $163,455
Other Expenses $105,973
TOTAL EXPENSES $375,506

Year-over-Year Comparison

2024 2023 Change
Revenue $399,121 $473,487 -0.2%
Expenses $375,506 $341,872 +0.1%
Net Income $23,615 $131,615 -0.8%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

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Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
5
Independent Members
5
Employees
8
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
4
$0
Total Directors
5
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MOST REV WILLIAM E KOENIG PRESIDENT 2.00
Officer Director
$0 $0 $0
MONSIGNOR STEVEN P HURLEY VG VICE PRESIDENT 2.00
Officer Director
$0 $0 $0
JAMES V DUGAR SECRETARY 2.00
Officer Director
$0 $0 $0
RUTHIE WHITE TRUSTEE 2.00
Director
$0 $0 $0
JOSEPH CORSINI TREASURER 2.00
Officer 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
2025 $399,121 $375,506 $5,606,256 $23,615
2024 $473,487 $341,872 $7,609,644 $131,615
2023 $2,455,895 $312,071 $7,450,188 $2,143,824
2022 $329,306 $258,075 $5,244,296 $71,231
2021 $348,700 $309,696 $5,503,757 $39,004
2020 $204,476 $205,042 $5,293,772 $-566
2019 $658,172 $290,467 $5,894,879 $367,705
2018 $611,053 $355,010 $5,646,509 $256,043
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