Overview
What is Loretto Rest Realty Corporation?
Loretto Rest Realty Corporation is a prominent organization situated in Syracuse, New York, with a postal address at 700 E Brighton Ave. The company's primary focus is on the healthcare sector, owning real property and leasing it to Loretto Health & Rehabilitation Center, a skilled nursing facility with 583 beds. Beyond this, Loretto Rest Realty Corporation also extends its services to the healthcare domain by operating a clinic that provides dental, podiatry, and vision care to its patients. The organization's activities also involve leasing real estate to healthcare organizations, thereby contributing to the healthcare industry as a whole. With a workforce of 1543 employees, the company plays a significant role in the Syracuse community, providing essential healthcare services and real estate solutions.
Official website here: www.lorettocny.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Stars)
Loretto Rest Realty Corporation has achieved an impressive Four-Star rating from Charity Navigator, reflecting its strong commitment to accountability and financial management. This rating is solely derived from its high score in the Accountability & Finance category, indicating that the organization adheres to best practices in transparency and governance.
The organization excels with a fully independent board, with 93% of its members being independent, which enhances its decision-making process and reduces potential conflicts of interest. It also scores exceptionally well in financial oversight, with no material diversions of assets reported and a solid liabilities-to-assets ratio of 48.79%. Furthermore, it has established comprehensive policies, including those for conflict of interest and whistleblowing, ensuring a robust governance framework.
While the data reflects strong overall performance, there are no specific limitations mentioned, highlighting Loretto Rest Realty Corporation's effective operational practices. The organization's focus on high program expense ratios suggests that it is dedicated to putting the majority of its resources toward its mission, reinforcing its credibility and trustworthiness within the nonprofit sector.
This AI summary has been generated from information found on Charity Navigator.
Is Loretto Rest Realty Corporation legitimate?
Loretto Rest Realty Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Loretto Rest Realty Corporation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $14,023
For more financial information, click here
Official website here: www.lorettocny.org
What is the mission statement of Loretto Rest Realty Corporation?
Loretto Rest Realty Corporation primarily focuses on two main areas: healthcare and leasing space to healthcare companies. In the healthcare sector, the corporation operates a clinic that provides dental, podiatry, and vision services to patients. Additionally, Loretto Rest Realty Corporation leases real property to Loretto Health & Rehabilitation Center, a skilled nursing facility. The company's mission, therefore, can be interpreted as contributing to the healthcare sector by offering essential medical services and providing real estate for healthcare institutions.
Official website here: www.lorettocny.org
Who is the CEO of Loretto Rest Realty Corporation?
John Murray is the Board Member, Past Chair of Loretto Rest Realty Corporation.
Official website here: www.lorettocny.org
What is the revenue of Loretto Rest Realty Corporation?
Loretto Rest Realty Corporation's revenue in 2022 was $924,975.
Official website here: www.lorettocny.org
Who are the executives of Loretto Rest Realty Corporation and what are their salaries?
The average compensation at Loretto Rest Realty Corporation during 2022 was $9. There are 1543 employees at Loretto Rest Realty Corporation.
Here are 24 key members and their salaries:
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- Related: $806,740
- Other: $58,527
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- Other: $15,447
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- Other: $25,384
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- Related: $187,623
- Other: $50,596
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- Related: $232,000
- Other: $37,337
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- Related: $267,835
- Other: $57,362
Official website here: www.lorettocny.org
Where can I find the form 990 for Loretto Rest Realty Corporation?
Loretto Rest Realty Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.lorettocny.org
Learn more at the official website: www.lorettocny.org
Mission Statement of Loretto Rest Realty Corporation
Loretto Rest Realty Corporation, an organization focused on healthcare and renting spaces to healthcare companies, plays a significant role in providing essential healthcare services. Its primary mission involves operating a clinic that offers dental, podiatry, and vision services to patients. Beyond this, the corporation also leases real property to Loretto Health & Rehabilitation Center, a skilled nursing facility with 583 beds. By providing these healthcare services and leasing property, Loretto Rest Realty Corporation contributes to the well-being of the community, ensuring that individuals have access to necessary medical care.
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Impact
October, 2024
Loretto Rest Realty Corporation plays a vital role in the healthcare landscape of Syracuse, NY, by owning and managing real estate that supports essential health services. By leasing properties to the Loretto Health & Rehabilitation Center, which operates 583 skilled nursing beds, the corporation directly contributes to the availability of crucial long-term care for the community.
In addition to supporting nursing care, Loretto Rest Realty Corporation facilitates access to dental, podiatry, and vision services through its clinic, enhancing the overall health and well-being of its patients. This multifaceted approach not only ensures that vital healthcare services are readily accessible but also fosters a comprehensive support system for individuals in need of various medical services within the community. The organization’s efforts significantly impact public health by maintaining facilities that cater to diverse healthcare needs, thereby promoting better health outcomes for the residents of Syracuse and surrounding areas.
This information is meant to be a general summary of Loretto Rest Realty Corporation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Program Service Revenue: $924,975
- Gross Receipts: $924,975
Assets and Liabilities:
- Total Assets: $20,577,036
- Total Liabilities: $20,876,753
- Net Assets: -$299,717
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL REVENUE
Revenue
$718,397
NET PATIENT REVENUE
Revenue
$206,578
Organization Details
Founding Year
2003
Phone
(315) 469-5570Principal Officer
John Murray
Main Address
700 E BRIGHTON AVE, SYRACUSE, NY, 13205
Website
www.lorettocny.orgNTEE Category
Code: P750 - Human services
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