Loretto Management Corporation
Loretto Management Corporation: Stable Revenue, Declining Assets
EIN: 222873640 · Syracuse, NY · NTEE: E91B · Updated: 2026-04-04
About Loretto Management Corporation
Loretto Management Corporation (EIN: 222873640) is a nonprofit organization based in Syracuse, NY, classified under NTEE code E91B. The organization reported total revenue of $28.3M and total assets of $23.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Loretto Management Corporation'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 Management Corporation with a Mission Score of 75 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: 10%
- programs: 80%
- fundraising: 10%
According to IRS 990 filings, Loretto Management Corporation allocates its expenses as follows: admin: 10%, programs: 80%, fundraising: 10%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Executive Compensation Analysis
Executive compensation appears reasonable given the organization's size and mission, with no red flags indicating excessive pay based on available filings.
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 Management Corporation's IRS 990 filings:
- Total assets have shown a significant decline from $77,018,761 in 2017 to $32,641,623 in 2023, warranting further investigation into the cause and impact.
- Expenses have consistently exceeded revenue in recent years, with 2023 showing expenses of $29,984,221 against revenue of $28,478,654, indicating a potential operational deficit.
Strengths
The following positive indicators were identified for Loretto Management Corporation:
- Consistent revenue generation over the past several years, demonstrating stable operational funding.
- Maintains a positive net asset position, despite recent declines in total assets.
- Clear and consistent financial reporting through publicly available filings.
Frequently Asked Questions about Loretto Management Corporation
What does Loretto Management Corporation do?
Loretto Management Corporation is a nonprofit organization in the Health Care sector, located in Syracuse, New York. It is classified under NTEE code E91B.
How much revenue does Loretto Management Corporation have?
Loretto Management Corporation reported total revenue of $28,348,226. Based on 14 IRS 990 filings on record.
What are Loretto Management Corporation's total assets?
Loretto Management Corporation holds total assets of $23,148,493 as reported in IRS 990 filings.
Where is Loretto Management Corporation located?
Loretto Management Corporation is based in Syracuse, New York.
What is Loretto Management Corporation's EIN?
Loretto Management Corporation's Employer Identification Number (EIN) is 222873640. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Loretto Management Corporation?
Loretto Management Corporation is classified under NTEE code E91B (Health Care).
Is Loretto Management Corporation a registered 501(c)(3)?
Yes, Loretto Management Corporation is recognized as a tax-exempt organization by the IRS. EIN: 222873640.
Does Loretto Management Corporation file IRS Form 990?
Yes, Loretto Management Corporation has 14 IRS Form 990 filings on record. The most recent covers tax period 202312.
What was Loretto Management Corporation's revenue in 2023?
In the 202312 filing period, Loretto Management Corporation reported total revenue of $28,478,654, total expenses of $29,984,221, and net assets of $32,641,623.
Is Loretto Management Corporation's revenue growing or declining?
Loretto Management Corporation's revenue is growing. Revenue went from $26,904,550 (202212) to $28,478,654 (202312), a +5.9% change. Based on 14 filings on record.
What is Loretto Management Corporation's most recent 990 filing?
The most recent IRS Form 990 filing for Loretto Management Corporation covers tax period 202312. It shows revenue of $28,478,654, expenses of $29,984,221, total assets of $32,641,623, and liabilities of $19,642,437.
How much does Loretto Management Corporation spend on programs vs administration?
Based on IRS 990 analysis, Loretto Management Corporation allocates approximately 80% of expenses to program services, 10% to administrative costs, and 10% to fundraising. This indicates strong program focus.
Is Loretto Management Corporation a trustworthy charity?
Based on AI analysis of IRS 990 data, Loretto Management Corporation appears trustworthy. Mission Score: 75/100 (Good). 2 red flags identified. 3 strengths noted.
What are the red flags for Loretto Management Corporation?
The following concerns were identified: Total assets have shown a significant decline from $77,018,761 in 2017 to $32,641,623 in 2023, warranting further investigation into the cause and impact.. Expenses have consistently exceeded revenue in recent years, with 2023 showing expenses of $29,984,221 against revenue of $28,478,654, indicating a potential operational deficit.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Loretto Management Corporation's strengths?
Positive indicators for Loretto Management Corporation include: Consistent revenue generation over the past several years, demonstrating stable operational funding.. Maintains a positive net asset position, despite recent declines in total assets.. Clear and consistent financial reporting through publicly available filings.. These findings are derived from AI analysis of the organization's financial filings.
How does Loretto Management Corporation compensate executives?
Executive compensation appears reasonable given the organization's size and mission, with no red flags indicating excessive pay based on available filings. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
What factors contributed to the substantial decrease in total assets from $77,018,761 in 2017 to $32,641,623 in 2023, and what is the strategic plan to address this trend?
The filings indicate a significant reduction in assets, but the specific reasons (e.g., asset sales, depreciation, investment losses) are not detailed in the summary data provided. A deeper dive into the full financial statements would be necessary to understand the underlying causes and the organization's strategy to manage its asset base.
Given that expenses have exceeded revenue in multiple recent years (e.g., 2023: expenses $29,984,221 vs. revenue $28,478,654), how is the organization sustaining its operations, and what measures are being taken to achieve financial equilibrium?
While expenses have surpassed revenue in some years, the organization has maintained a positive net asset position. This suggests that prior surpluses or other non-operating income may be covering the shortfalls. A detailed review of cash flow statements and non-operating activities would clarify the funding mechanisms and sustainability strategies.
Filing History
IRS 990 filing history for Loretto Management Corporation showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2010–2023), Loretto Management Corporation's revenue has grown by 67.3%, moving from $17.0M to $28.5M. Total assets increased by 447% over the same period, from $6.0M to $32.6M. Total functional expenses rose by 65%, from $18.2M to $30.0M. In its most recent filing year (2023), Loretto Management Corporation reported a deficit of $1.5M, with expenses exceeding revenue. The organization holds $19.6M in liabilities against $32.6M in assets (debt-to-asset ratio: 60.2%), resulting in net assets of $13.0M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $28.5M | $30.0M | $32.6M | $19.6M | — | — |
| 2022 | $26.9M | $28.0M | $47.1M | $16.6M | — | — |
| 2021 | $24.4M | $25.2M | $57.3M | $12.8M | — | — |
| 2020 | $27.3M | $26.8M | $52.9M | $12.1M | — | — |
| 2019 | $27.4M | $25.9M | $58.3M | $11.4M | — | View 990 |
| 2018 | $26.4M | $25.9M | $69.0M | $12.5M | — | View 990 |
| 2017 | $24.4M | $23.8M | $77.0M | $11.2M | — | View 990 |
| 2016 | $22.6M | $23.3M | $72.4M | $10.1M | — | View 990 |
| 2015 | $22.6M | $22.9M | $69.8M | $9.5M | — | View 990 |
| 2014 | $22.3M | $22.2M | $71.0M | $9.8M | — | View 990 |
| 2013 | $19.1M | $19.8M | $51.0M | $5.7M | — | View 990 |
| 2012 | $21.9M | $22.2M | $31.3M | $5.7M | — | View 990 |
| 2011 | $17.1M | $19.1M | $5.6M | $4.2M | — | View 990 |
| 2010 | $17.0M | $18.2M | $6.0M | $6.4M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $28.5M, expenses of $30.0M, and assets of $32.6M (revenue +5.9% year-over-year).
- 2022: Revenue of $26.9M, expenses of $28.0M, and assets of $47.1M (revenue +10.3% year-over-year).
- 2021: Revenue of $24.4M, expenses of $25.2M, and assets of $57.3M (revenue -10.7% year-over-year).
- 2020: Revenue of $27.3M, expenses of $26.8M, and assets of $52.9M (revenue -0.2% year-over-year).
- 2019: Revenue of $27.4M, expenses of $25.9M, and assets of $58.3M (revenue +3.9% year-over-year).
- 2018: Revenue of $26.4M, expenses of $25.9M, and assets of $69.0M (revenue +7.8% year-over-year).
- 2017: Revenue of $24.4M, expenses of $23.8M, and assets of $77.0M (revenue +8.1% year-over-year).
- 2016: Revenue of $22.6M, expenses of $23.3M, and assets of $72.4M (revenue +0.0% year-over-year).
- 2015: Revenue of $22.6M, expenses of $22.9M, and assets of $69.8M (revenue +1.3% year-over-year).
- 2014: Revenue of $22.3M, expenses of $22.2M, and assets of $71.0M (revenue +16.6% year-over-year).
- 2013: Revenue of $19.1M, expenses of $19.8M, and assets of $51.0M (revenue -12.4% year-over-year).
- 2012: Revenue of $21.9M, expenses of $22.2M, and assets of $31.3M (revenue +28.0% year-over-year).
- 2011: Revenue of $17.1M, expenses of $19.1M, and assets of $5.6M (revenue +0.3% year-over-year).
- 2010: Revenue of $17.0M, expenses of $18.2M, and assets of $6.0M.
Data Sources and Methodology
This transparency report for Loretto Management Corporation 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.