MONTICELLO ECUMENICAL RETIREMENT CENTER INC

EIN: 710563803 501(c)(3)

MONTICELLO, AR

Total Revenue
$520,457
Total Expenses
$383,558
Total Assets
$1,206,496
Net Assets
$1,132,887
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Financial Trends

Organization Details

Formation Year
1982
Legal Domicile
AR
Principal Officer
FRANK FERGUSON
Phone
8703675967
Tax Period
2024-01-01 to 2024-12-31

MONTICELLO ECUMENICAL RETIREMENT CENTER INC, founded in 1982, is a small nonprofit that reported $450K in total revenue in fiscal year 2018. The organization ran a surplus of $113K, a strong 25% operating margin.

Mission

MONTICELLO ECUMENICAL RETIREMENT CENTER, INC. (THE "ORGANIZATION") WAS INCORPORATED JUNE 2, 1982 AS A NON-PROFIT ORGANIZATION. THE PRIMARY PURPOSE OF THE ORGANIZATION IS TO PROVIDE HOUSING FOR THE ELDERLY OR THE HANDICAPPED PURSUANT TO SECTION 202 OF THE NATIONAL HOUSING ACT, AS AMENDED. THE ORGANIZATION OPERATES ANNSWOOD APARTMENTS (THE "PROJECT"), AN APARTMENT COMPLEX OF 62 RENTAL UNITS LOCATED IN MONTICELLO, ARKANSAS. THE PROJECT LEASES THE APARTMENTS UNDER OPERATING LEASES THAT ARE SUBSTANTIALLY ALL ON A MONTH-TO MONTH BASIS. THE PROJECT'S MAJOR PROGRAM IS ITS SECTION 202 DIRECT LOAN. THE PROJECT IS REGULATED BY THE DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD) AS TO RENT CHARGES AND OPERATING METHODS. AS A NON-PROFIT OWNER OF THE PROJECT, THE ORGANIZATION IS NOT ENTITLED TO DISTRIBUTIONS OF PROJECT FUNDS UNDER THE TERMS OF THE REGULATORY AGREEMENT WITH HUD.

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

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $502,096
Investment Income $18,279
Other Revenue $82
TOTAL REVENUE $520,457

Expense Breakdown

Grants Paid $0
Salaries & Benefits $114,699
Fundraising Expenses $0
Program Expenses $376,333
Other Expenses $268,859
TOTAL EXPENSES $383,558

Year-over-Year Comparison

2024 2023 Change
Revenue $520,457 $492,910 +0.1%
Expenses $383,558 $394,035 0.0%
Net Income $136,899 $98,875 +0.4%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
6
Independent Members
6
Employees
3
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
2
$0
Total Directors
6
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
FRANK FERGUSON PRES/CEO N/A
Officer Director
$0 $0 $0
SUSAN MUSICK SEC/TREAS N/A
Officer Director
$0 $0 $0
ROSALEE EMERSON DIRECTOR N/A
Director
$0 $0 $0
LAURA FERGUSON BOARD MEMBER N/A
Director
$0 $0 $0
MARILYN MHOON BOARD MEMBER N/A
Director
$0 $0 $0
KATHY TUMLINSON BOARD MEMBER N/A
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 $520,457 $383,558 $1,206,496 $136,899
2023 $492,910 $394,035 $1,220,183 $98,875
2022 $483,384 $332,208 $1,257,528 $151,176
2021 $478,324 $357,099 $1,234,916 $121,225
2020 $459,147 $337,108 $1,229,579 $122,039
2019 $461,326 $364,035 $1,206,877 $97,291
2018 $449,736 $336,995 $1,207,126 $112,741
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