THE LORELTON FOUNDATION

EIN: 510284276 501(c)(3)

WILMINGTON, DE

Total Revenue
$5,719,763
Total Expenses
$5,400,036
Total Assets
$9,252,725
Net Assets
$-3,122,954
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
1985
Legal Domicile
DE
Principal Officer
RICHARD E STAT
Phone
3025732500
Tax Period
2024-01-01 to 2024-12-31

THE LORELTON FOUNDATION, founded in 1985, is a community nonprofit that reported $5.7M in total revenue in fiscal year 2024. Expenses of $5.4M left a modest 6% surplus.

Mission

THE PRIMARY PURPOSE OF THE ORGANIZATION IS TO PROVIDE HOUSING AND SERVICES TO THE ELDERLY.

Program Service Accomplishments

Program 1
Expenses: $4,609,709 Revenue: $5,207,534

PROVIDE HOUSING FOR THE ELDERLY. THE LORELTON FOUNDATION CONSISTS OF 82 APARTMENTS. 79 APARTMENTS WERE IN USE FOR RESIDENT OCCUPANCY DURING 2023.

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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 $410,000
Program Service Revenue $5,207,534
Investment Income $102,229
Other Revenue $0
TOTAL REVENUE $5,719,763

Expense Breakdown

Grants Paid $0
Salaries & Benefits $3,039,392
Fundraising Expenses $0
Program Expenses $4,609,709
Other Expenses $2,360,644
TOTAL EXPENSES $5,400,036

Year-over-Year Comparison

2024 2023 Change
Revenue $5,719,763 $5,670,520 +0.0%
Expenses $5,400,036 $4,868,495 +0.1%
Net Income $319,727 $802,025 -0.6%
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

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

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
9
Independent Members
1
Employees
158
Volunteers
9

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
$197,134
Total Directors
9
$197,134
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
RICHARD E STAT PRESIDENT/SECRETARY/TREASU 0.50
Officer Director
$0 $0 $0
DAVID PARKINSON EXECUTIVE DIRECTOR 40.00
Officer Director
$165,000 $32,134 $197,134
LAUREN STAT DIRECTOR 0.50
Director
$0 $0 $0
DAVID HUBBLE DIRECTOR 0.50
Director
$0 $0 $0
DAVID STAT DIRECTOR 0.50
Director
$0 $0 $0
MICHAEL STAT DIRECTOR 0.50
Director
$0 $0 $0
JOANNE STAT DIRECTOR 0.50
Director
$0 $0 $0
LINDA STAT DIRECTOR 0.50
Director
$0 $0 $0
THOMAS SHEA DIRECTOR 0.50
Director
$0 $0 $0
RAN JIN ASSISTANT TREASURER 0.50
Officer
$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 $5,719,763 $5,400,036 $9,252,725 $319,727
2023 $5,670,520 $4,868,495 $8,609,103 $802,025
2022 $4,125,204 $4,809,510 $7,705,867 $-684,306
2021 $6,129,821 $4,827,917 $8,242,820 $1,301,904
2020 $5,624,941 $4,751,455 $6,904,153 $873,486
2019 $4,857,152 $4,799,367 $6,534,950 $57,785
2018 $4,817,205 $4,463,168 $6,675,689 $354,037
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