Nonprofit · EIN 51-0284276
LORELTON FOUNDATION
Tax-exempt · WILMINGTON, DE 19801
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $5,719,763 | $5,400,036 | $319,727 | $9,252,725 | $12,375,679 | -$3,122,954 |
| December 31, 2023 | 990 | $5,670,520 | $4,868,495 | $802,025 | $8,609,103 | $8,921,783 | -$312,680 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $410,000
- of which government grants
- $10,000
- Program service revenue
- $5,207,534
- Investment income
- $102,229
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $197,134
- Other salaries and wages
- $2,463,564
- Salaries, compensation and benefits (total)
- $3,039,392
- Professional fundraising fees
- $0
- Legal fees
- $26,916
- Accounting fees
- $45,423
- Occupancy
- $210,713
- Depreciation
- $414,236
- Program services (functional)
- $4,609,709
- Management and general (functional)
- $790,327
Balance sheet and other
- Total assets, start of year
- $8,609,103
- Total assets, end of year
- $9,252,725
- Total liabilities, end of year
- $12,375,679
- Net assets, end of year
- -$3,122,954
- Land, buildings and equipment
- $5,236,020
- Net assets without donor restrictions
- -$3,501,677
- Net assets with donor restrictions
- $378,723
- Gross receipts
- $5,719,763
- Employees
- 158
- Volunteers
- 9
- Year formed
- 1985
- State of legal domicile
- DE
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 |
|---|---|---|---|---|
| DAVID PARKINSON | EXECUTIVE DIRECTOR Trustee or director, Officer | 40 | $165,000 | $32,134 |
| RICHARD E STAT | PRESIDENT/SECRETARY/TREASU Trustee or director, Officer | 0.5 | $0 | $0 |
| LAUREN STAT | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| DAVID HUBBLE | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| DAVID STAT | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| MICHAEL STAT | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| JOANNE STAT | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| LINDA STAT | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| THOMAS SHEA | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| RAN JIN | ASSISTANT TREASURER Officer | 0.5 | $0 | $0 |
990 for the year ended December 31, 2023: 9 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| DAVID PARKINSON | EXECUTIVE DIRECTOR Trustee or director, Officer | 40 | $150,000 | $30,600 |
| RICHARD E STAT | PRESIDENT/SECRETARY/TREASU Trustee or director, Officer | 0.5 | $0 | $0 |
| LAUREN STAT | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| DAVID HUBBLE | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| DAVID STAT | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| MICHAEL STAT | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| JOANNE STAT | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| LINDA STAT | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| RAN JIN | ASSISTANT TREASURER Officer | 0.5 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 1201 N ORANGE ST STE 700, WILMINGTON, DE 19801-1186
- In care of
- % R STAT
- Principal officer (990 for 2024)
- RICHARD E STAT, 1201 NORTH ORANGE STREET 700, WILMINGTON, DE 19801
- Signed the 990
- RICHARD E STAT, PRESIDENT
- Phone
- (302) 573-2500
- Website
- WWW.LORELTON.COM
- Return prepared by
- GORFINE SCHILLER & GARDYN PA
Mission
THE PRIMARY PURPOSE OF THE ORGANIZATION IS TO PROVIDE HOUSING AND SERVICES TO THE ELDERLY.
Program accomplishments
- PROVIDE HOUSING FOR THE ELDERLY. THE LORELTON FOUNDATION CONSISTS OF 82 APARTMENTS. 79 APARTMENTS WERE IN USE FOR RESIDENT OCCUPANCY DURING 2023.Expenses $4,609,709 · revenue $5,207,534
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. 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
- 51-0284276
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (509(a)(2))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1986
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $9,252,725
- Income (IRS master file)
- $5,719,763
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $5,719,763 | $5,400,036 | $9,252,725 | XML |
| 990 | December 2023 | $5,670,520 | $4,868,495 | $8,609,103 | XML |
| 990 | December 2022 | $4,125,204 | $4,809,510 | $7,705,867 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
| 990 | December 2017 | – | – | – | 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 51-0284276).
Questions about LORELTON FOUNDATION
- What is the EIN of LORELTON FOUNDATION?
- The employer identification number (EIN) of LORELTON FOUNDATION is 51-0284276.
- Is LORELTON FOUNDATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1986.
- Are donations to LORELTON FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does LORELTON FOUNDATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of LORELTON FOUNDATION 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 LORELTON FOUNDATION 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 LORELTON FOUNDATION?
- The 990 for the year ended December 31, 2024 names RICHARD E STAT.
- Who are the officers and directors of LORELTON FOUNDATION?
- The 990 for the year ended December 31, 2024 lists 10 people; 1 received compensation from the organization, the highest $165,000 (DAVID PARKINSON, EXECUTIVE DIRECTOR).
- How much revenue does LORELTON FOUNDATION have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $5,719,763, expenses of $5,400,036 and total assets of $9,252,725 at year end.
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