Nonprofit · EIN 04-6037997
PREACHERS AID SOCIETY OF NEW ENGLAND
Tax-exempt · WELLS, ME 04090
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $2,739,303 | $2,705,660 | $33,643 | $53,183,149 | $70,335 | $53,112,814 |
| December 31, 2023 | 990 | $2,756,146 | $2,199,889 | $556,257 | $50,793,022 | $90,632 | $50,702,390 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $160,099
- Program service revenue
- $582,628
- Investment income
- $1,996,576
- Net gain from sales of assets
- $1,307,716
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $631,504
- Compensation of officers, directors and key employees
- $178,960
- Other salaries and wages
- $269,897
- Salaries, compensation and benefits (total)
- $553,974
- Professional fundraising fees
- $0
- Legal fees
- $44,917
- Occupancy
- $408,724
- Travel
- $52,335
- Depreciation
- $556,950
- Program services (functional)
- $2,132,588
- Management and general (functional)
- $416,461
- Fundraising (functional)
- $156,611
Balance sheet and other
- Total assets, start of year
- $50,793,022
- Total assets, end of year
- $53,183,149
- Total liabilities, end of year
- $70,335
- Net assets, end of year
- $53,112,814
- Land, buildings and equipment
- $13,144,178
- Publicly traded securities
- $22,390,791
- Net assets without donor restrictions
- $40,785,185
- Net assets with donor restrictions
- $12,327,629
- Gross receipts
- $8,781,332
- Employees
- 13
- Volunteers
- 15
- Year formed
- 1858
- State of legal domicile
- MA
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Dr Wesley E Palmer | Executive Director Officer | 40 | $115,135 | $63,825 |
| George Dow Sr | Director Trustee or director | 2 | $0 | $0 |
| Rich Hughen | Director (start 5/2024) Trustee or director | 2 | $0 | $0 |
| Ellen Jackson | Director Trustee or director | 2 | $0 | $0 |
| Cynthia Johnson | Director Trustee or director | 2 | $0 | $0 |
| April Morgan | Director Trustee or director | 2 | $0 | $0 |
| Donald O'Keefe | Director Trustee or director | 2 | $0 | $0 |
| Gwen Savych | Director Trustee or director | 2 | $0 | $0 |
| Douglas Stevenson | Director Trustee or director | 2 | $0 | $0 |
| Jinsook Song | Director Trustee or director | 2 | $0 | $0 |
| R Paul Weston | Director (end 5/2024) Trustee or director | 2 | $0 | $0 |
| Douglas Verge | Director Trustee or director | 2 | $0 | $0 |
| Elizabeth Dallas | President Trustee or director, Officer | 2 | $0 | $0 |
| Lynn Matson | 1st Vice President Trustee or director, Officer | 2 | $0 | $0 |
| Tracy Tarver | 2nd Vice President Trustee or director, Officer | 2 | $0 | $0 |
2 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Charles Emery | Treasurer Trustee or director, Officer | 2 | $0 |
| Janice Schuster | Secretary Trustee or director, Officer | 2 | $0 |
990 for the year ended December 31, 2023: 22 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Dr Wesley E Palmer | Executive Director Officer | 40 | $107,793 | $62,077 |
| James Avrett | Director (end 11/2023) Trustee or director | 2 | $0 | $0 |
| Crystal Collier | Director (end 5/2023) Trustee or director | 2 | $0 | $0 |
| George Dow Sr | Director Trustee or director | 2 | $0 | $0 |
| Ellen Jackson | Director Trustee or director | 2 | $0 | $0 |
| Cynthia Johnson | Director Trustee or director | 2 | $0 | $0 |
| April Morgan | Director Trustee or director | 2 | $0 | $0 |
| Donald O'Keefe | Director Trustee or director | 2 | $0 | $0 |
| Jeffrey Savage | Director (end 5/2023) Trustee or director | 2 | $0 | $0 |
| Gwen Savych | Director Trustee or director | 2 | $0 | $0 |
| Douglas Stevenson | Director Trustee or director | 2 | $0 | $0 |
| Jinsook Song | Director Trustee or director | 2 | $0 | $0 |
| R Paul Weston | Director Trustee or director | 2 | $0 | $0 |
| Douglas Verge | Director Trustee or director | 2 | $0 | $0 |
| Elizabeth Dallas | President Trustee or director, Officer | 2 | $0 | $0 |
| Paul Parks Jr | President (end 5/2023) Trustee or director, Officer | 2 | $0 | $0 |
| Lynn Matson | 1st Vice President Trustee or director, Officer | 2 | $0 | $0 |
| Tracy Tarver | 2nd Vice President Trustee or director, Officer | 2 | $0 | $0 |
| Charles Emery | Treasurer Trustee or director, Officer | 2 | $0 | $0 |
| Charles Stewart III PhD | Treasurer (end 5/2023) Trustee or director, Officer | 2 | $0 | $0 |
| Janice Schuster | Secretary Trustee or director, Officer | 2 | $0 | $0 |
| Nancy Vaccaro | Secretary (end 5/2023) Trustee or director, Officer | 2 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 51 CHARLES WESLEY CT, WELLS, ME 04090-5180
- In care of
- % CONTROLLER
- Principal officer (990 for 2024)
- Wesley Palmer, 51 Charles Wesley Court, Wells, ME 04090
- Signed the 990
- Wesley Palmer, Executive Director
- Phone
- (207) 467-3246
- Website
- www.preachersaid.org
- Return prepared by
- Baker Newman & Noyes
Mission
Preachers' Aid Society of New England endeavors to remain faithful to our core commitment to improve the quality of life among our United Methodist clergy, especially those who have retired from ministry and their surviving spouses. Through our strong financial support for retiree health care, training in personal financial management, spiritual life retreats and direct services to clergy families in need, we utilize the endowment of our Society to help generations of families enjoy a rich and full life in Christian ministry.
Program accomplishments
- Preachers' Aid Society of New England maintains a vigorous program of service to clergy families, demonstrating a major commitment to retirees and their welfare. Programs and services for retirees include in-home visitation, educational program support, emergency assistance, tending the fire, retiree housing, higher education loan program, retiree green loan program, baby grants, retiree health care, occasional clergy gatherings, retiree methodent program, and the Taylor Fellowship award. In addition to its direct program services, during this tax year the Society also paid over $390,000 in grants to other organizations as well as over $240,000 across 80 awards directly to individuals, each gift furthering the Society's charitable mission.Expenses $2,132,588 · grants $631,504 · revenue $582,628
What it must file and when
IRS records say it files Not required (church). Churches are not required to file. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 04-6037997
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Church
- Exempt since
- 1974
- Accounting year ends
- December
- Files
- Not required (church)
- Group exemption
- 2573: GENERAL COUNCIL ON FINANCE & ADMINS OF THE UNITED
- Assets (IRS master file)
- $53,183,149
- Income (IRS master file)
- $8,781,332
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $2,739,303 | $2,705,660 | $53,183,149 | XML |
| 990 | December 2023 | $2,756,146 | $2,199,889 | $50,793,022 | XML |
| 990 | December 2022 | $1,949,291 | $1,921,671 | $48,592,141 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990-T | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990-T | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 04-6037997).
Questions about PREACHERS AID SOCIETY OF NEW ENGLAND
- What is the EIN of PREACHERS AID SOCIETY OF NEW ENGLAND?
- The employer identification number (EIN) of PREACHERS AID SOCIETY OF NEW ENGLAND is 04-6037997.
- Is PREACHERS AID SOCIETY OF NEW ENGLAND tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1974.
- Which annual return does PREACHERS AID SOCIETY OF NEW ENGLAND file?
- Form Not required (church). Churches are not required to file.
- When is the next return of PREACHERS AID SOCIETY OF NEW ENGLAND due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did PREACHERS AID SOCIETY OF NEW ENGLAND last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of PREACHERS AID SOCIETY OF NEW ENGLAND?
- The 990 for the year ended December 31, 2024 names Wesley Palmer.
- Who are the officers and directors of PREACHERS AID SOCIETY OF NEW ENGLAND?
- The 990 for the year ended December 31, 2024 lists 17 people; 1 received compensation from the organization, the highest $115,135 (Dr Wesley E Palmer, Executive Director).
- How much revenue does PREACHERS AID SOCIETY OF NEW ENGLAND have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $2,739,303, expenses of $2,705,660 and total assets of $53,183,149 at year end.
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