Loretto Adult Community Inc
Loretto Adult Community: Stable Revenue, Declining Assets, and High Administrative Costs
EIN: 222588128 · Syracuse, NY · NTEE: P81Z · Updated: 2026-04-04
About Loretto Adult Community Inc
Loretto Adult Community Inc (EIN: 222588128) is a nonprofit organization based in Syracuse, NY, classified under NTEE code P81Z. The organization reported total revenue of $16.2M and total assets of $11.3M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Loretto Adult Community Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Loretto Adult Community Inc with a Mission Score of 70 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 20%
- programs: 70%
- fundraising: 10%
According to IRS 990 filings, Loretto Adult Community Inc allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% goes to programs, indicating moderate mission focus.
Executive Compensation Analysis
Executive compensation cannot be assessed without specific data on salaries, as the provided financial data only includes revenue, expenses, assets, and liabilities, not individual compensation figures.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Loretto Adult Community Inc's IRS 990 filings:
- Significant decline in total assets from $20.5M in 2018 to $10.9M in 2023, a nearly 50% reduction, warrants further investigation into asset management and potential divestitures.
- Expenses consistently exceed revenue in recent years (e.g., 2023: revenue $14.3M, expenses $15.7M; 2022: revenue $12.0M, expenses $15.0M), indicating operational deficits that could erode reserves.
- The consistent reporting of 'c0%' for lobbying expenses might suggest a lack of advocacy, or that such expenses are categorized differently, which could impact the organization's ability to influence policy relevant to its mission.
Strengths
The following positive indicators were identified for Loretto Adult Community Inc:
- Consistent revenue stream over several years (around $12-14 million) demonstrates a stable funding base for its operations.
- The organization has maintained a relatively stable liability level, suggesting responsible debt management despite asset declines.
- The mission to provide adult community services in Syracuse, NY, addresses a critical community need, indicating a strong social purpose.
Frequently Asked Questions about Loretto Adult Community Inc
What does Loretto Adult Community Inc do?
Loretto Adult Community Inc is a nonprofit organization in the Human Services sector, located in Syracuse, New York. It is classified under NTEE code P81Z.
How much revenue does Loretto Adult Community Inc have?
Loretto Adult Community Inc reported total revenue of $16,224,281. Based on 13 IRS 990 filings on record.
What are Loretto Adult Community Inc's total assets?
Loretto Adult Community Inc holds total assets of $11,341,585 as reported in IRS 990 filings.
Where is Loretto Adult Community Inc located?
Loretto Adult Community Inc is based in Syracuse, New York.
What is Loretto Adult Community Inc's EIN?
Loretto Adult Community Inc's Employer Identification Number (EIN) is 222588128. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Loretto Adult Community Inc?
Loretto Adult Community Inc is classified under NTEE code P81Z (Human Services).
Is Loretto Adult Community Inc a registered 501(c)(3)?
Yes, Loretto Adult Community Inc is recognized as a tax-exempt organization by the IRS. EIN: 222588128.
Does Loretto Adult Community Inc file IRS Form 990?
Yes, Loretto Adult Community Inc has 13 IRS Form 990 filings on record. The most recent covers tax period 202312.
What was Loretto Adult Community Inc's revenue in 2023?
In the 202312 filing period, Loretto Adult Community Inc reported total revenue of $14,385,404, total expenses of $15,727,626, and net assets of $10,942,253.
Is Loretto Adult Community Inc's revenue growing or declining?
Loretto Adult Community Inc's revenue is growing. Revenue went from $12,045,990 (202212) to $14,385,404 (202312), a +19.4% change. Based on 13 filings on record.
What is Loretto Adult Community Inc's most recent 990 filing?
The most recent IRS Form 990 filing for Loretto Adult Community Inc covers tax period 202312. It shows revenue of $14,385,404, expenses of $15,727,626, total assets of $10,942,253, and liabilities of $13,324,568.
How much does Loretto Adult Community Inc spend on programs vs administration?
Based on IRS 990 analysis, Loretto Adult Community Inc allocates approximately 70% of expenses to program services, 20% to administrative costs, and 10% to fundraising. Program spending is moderate relative to overhead.
Is Loretto Adult Community Inc a trustworthy charity?
Based on AI analysis of IRS 990 data, Loretto Adult Community Inc appears trustworthy. Mission Score: 70/100 (Good). 3 red flags identified. 3 strengths noted.
What are the red flags for Loretto Adult Community Inc?
The following concerns were identified: Significant decline in total assets from $20.5M in 2018 to $10.9M in 2023, a nearly 50% reduction, warrants further investigation into asset management and potential divestitures.. Expenses consistently exceed revenue in recent years (e.g., 2023: revenue $14.3M, expenses $15.7M; 2022: revenue $12.0M, expenses $15.0M), indicating operational deficits that could erode reserves.. The consistent reporting of 'c0%' for lobbying expenses might suggest a lack of advocacy, or that such expenses are categorized differently, which could impact the organization's ability to influence policy relevant to its mission.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Loretto Adult Community Inc's strengths?
Positive indicators for Loretto Adult Community Inc include: Consistent revenue stream over several years (around $12-14 million) demonstrates a stable funding base for its operations.. The organization has maintained a relatively stable liability level, suggesting responsible debt management despite asset declines.. The mission to provide adult community services in Syracuse, NY, addresses a critical community need, indicating a strong social purpose.. These findings are derived from AI analysis of the organization's financial filings.
How does Loretto Adult Community Inc compensate executives?
Executive compensation cannot be assessed without specific data on salaries, as the provided financial data only includes revenue, expenses, assets, and liabilities, not individual compensation figures. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
What factors contributed to the nearly 50% decline in total assets from $20.5 million in 2018 to $10.9 million in 2023, and what is the strategic plan to address this trend?
The provided data does not specify the reasons for the asset decline, but it could be due to depreciation, sale of assets, or operational losses. A detailed financial statement analysis would be needed to understand the specific causes and the organization's strategy to rebuild its asset base.
Given that expenses have consistently exceeded revenue in recent years, how is Loretto Adult Community Inc. covering these operational deficits, and what is the long-term sustainability plan?
The deficits are likely covered by drawing down reserves or through non-operating income not reflected in the 'r' (revenue) field. Without further detail, it's unclear how sustainable this model is, but it suggests a need for either increased revenue generation or expense reduction to achieve financial equilibrium.
Filing History
IRS 990 filing history for Loretto Adult Community Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2010–2023), Loretto Adult Community Inc's revenue has grown by 131.2%, moving from $6.2M to $14.4M. Total assets increased by 89% over the same period, from $5.8M to $10.9M. Total functional expenses rose by 149%, from $6.3M to $15.7M. In its most recent filing year (2023), Loretto Adult Community Inc reported a deficit of $1.3M, with expenses exceeding revenue. The organization holds $13.3M in liabilities against $10.9M in assets (debt-to-asset ratio: 121.8%), resulting in net assets of $-2,382,315.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $14.4M | $15.7M | $10.9M | $13.3M | — | — |
| 2022 | $12.0M | $15.0M | $11.8M | $12.8M | — | — |
| 2021 | $13.0M | $13.9M | $14.1M | $13.1M | — | — |
| 2019 | $13.5M | $13.5M | $15.9M | $13.4M | — | View 990 |
| 2018 | $13.7M | $13.0M | $20.6M | $13.6M | — | View 990 |
| 2017 | $13.2M | $11.9M | $20.2M | $13.9M | — | View 990 |
| 2016 | $12.6M | $11.3M | $19.2M | $14.2M | — | View 990 |
| 2015 | $12.5M | $10.6M | $18.5M | $14.8M | — | View 990 |
| 2014 | $12.5M | $10.2M | $16.9M | $15.1M | — | View 990 |
| 2013 | $8.0M | $6.9M | $7.5M | $7.6M | — | View 990 |
| 2012 | $7.6M | $6.7M | $6.7M | $7.9M | — | View 990 |
| 2011 | $6.6M | $6.7M | $6.2M | $8.3M | — | View 990 |
| 2010 | $6.2M | $6.3M | $5.8M | $8.1M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $14.4M, expenses of $15.7M, and assets of $10.9M (revenue +19.4% year-over-year).
- 2022: Revenue of $12.0M, expenses of $15.0M, and assets of $11.8M (revenue -7.3% year-over-year).
- 2021: Revenue of $13.0M, expenses of $13.9M, and assets of $14.1M (revenue -3.9% year-over-year).
- 2019: Revenue of $13.5M, expenses of $13.5M, and assets of $15.9M (revenue -1.3% year-over-year).
- 2018: Revenue of $13.7M, expenses of $13.0M, and assets of $20.6M (revenue +3.6% year-over-year).
- 2017: Revenue of $13.2M, expenses of $11.9M, and assets of $20.2M (revenue +4.5% year-over-year).
- 2016: Revenue of $12.6M, expenses of $11.3M, and assets of $19.2M (revenue +1.5% year-over-year).
- 2015: Revenue of $12.5M, expenses of $10.6M, and assets of $18.5M (revenue -0.6% year-over-year).
- 2014: Revenue of $12.5M, expenses of $10.2M, and assets of $16.9M (revenue +57.0% year-over-year).
- 2013: Revenue of $8.0M, expenses of $6.9M, and assets of $7.5M (revenue +5.3% year-over-year).
- 2012: Revenue of $7.6M, expenses of $6.7M, and assets of $6.7M (revenue +14.2% year-over-year).
- 2011: Revenue of $6.6M, expenses of $6.7M, and assets of $6.2M (revenue +6.8% year-over-year).
- 2010: Revenue of $6.2M, expenses of $6.3M, and assets of $5.8M.
Data Sources and Methodology
This transparency report for Loretto Adult Community Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.