DIOCESAN REAL ESTATE INC

EIN: 821572979 501(c)(3)

WHEELING, WV

Total Revenue
$3,910,601
Total Expenses
$6,558,774
Total Assets
$151,228,838
Net Assets
$151,228,795
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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
2017
Legal Domicile
WV
Principal Officer
BISHOP MARK E BRENNAN
Phone
3042330880
Tax Period
2024-01-01 to 2024-12-31

DIOCESAN REAL ESTATE INC, founded in 2017, is a community nonprofit that reported $3.9M in total revenue in fiscal year 2024. Revenue surged 28% from the prior year, signaling strong growth momentum. Expenses of $6.6M exceeded revenue, resulting in a 68% operating deficit.

Mission

SUPPORT, PROMOTE AND CONTRIBUTE TO THE INTERESTS AND PURPOSES OF THE ROMAN CATHOLIC DIOCESE OF WHEELING-CHARLESTON ("DIOCESES"), WHEELING HOSPITAL ("HOSPITAL"). PROVIDE A BROAD RANGE OF SERVICES, INCLUDING CATHOLIC EDUCATION, HEALTH CARE, RELIGIOUS EDUCATION AND SERVICES, PROGRAMS AND SERVICES OF THE DIOCESE AND HOSPITAL AND THEIR RELATED AND AFFILIATED ENTITIES, INCLUDING WHEELING JESUIT UNIVERSITY ("UNIVERSITY"). LEASE, PURCHASE AND OWN SUCH REAL ESTATE AND OTHER PROPERTY AS MAY BE NECESSARY FOR THE ACCOMPLISHMENT OF THE OBJECTS OF DRE.

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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 $0
Program Service Revenue $0
Investment Income $24,746
Other Revenue $3,885,855
TOTAL REVENUE $3,910,601

Expense Breakdown

Grants Paid $2,229,866
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $6,557,809
Other Expenses $4,328,908
TOTAL EXPENSES $6,558,774

Year-over-Year Comparison

2024 2023 Change
Revenue $3,910,601 $3,065,119 +0.3%
Expenses $6,558,774 $6,410,402 +0.0%
Net Income $-2,648,173 $-3,345,283 -0.2%
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
6
Independent Members
N/A
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
6
$656,599
Total Directors
6
$656,599
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MICHAEL DEEMER DIRECTOR/ TREASURER 0.50
Officer Director
$0 $37,934 $168,138
BISHOP MARK E BRENNAN DIRECTOR/ CHAIRMAN/ SOLE-M 0.50
Officer Director
$0 $16,806 $54,431
JAMES GARDILL DIRECTOR/ SECRETARY 0.50
Officer Director
$0 $0 $0
PATRICK HENRY DIRECTOR/ PRESIDENT 0.50
Officer Director
$0 $30,827 $171,213
BRYAN MINOR DIRECTOR/ VICE PRESIDENT 0.50
Officer Director
$0 $37,641 $203,173
FR JOHN RICE DIRECTOR 0.50
Officer Director
$0 $17,775 $59,644
MONSIGNOR JOSEPH PETERSON DEC'D FORMER DIRECTOR 0.50
$0 $2,105 $37,218
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 $3,910,601 $6,558,774 $151,228,838 $-2,648,173
2023 $3,065,119 $6,410,402 $153,877,012 $-3,345,283
2022 $3,003,325 $6,319,990 $157,323,357 $-3,316,665
2021 $135,775,598 $4,806,378 $160,539,062 $130,969,220
2020 $-17,216 $782,536 $29,569,743 $-799,752
2019 $6,362 $797,398 $30,376,536 $-791,036
2018 $123,011 $797,722 $31,160,533 $-674,711
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