Phs Founders Ridge Inc
- Assets
- $50.9m
- Revenue
- $8.2m
- Investments
- $1.2m
- Employees
- 0
- Location
- Roseville, MN
- Founding
- 05/2007
- Data as of
- 09/2021
- EIN
- 20-8335025
Organization Overview
Phs Founders Ridge Inc is located in Roseville, MN. The organization was established in 2007. According to its NTEE Classification (L22) the organization is classified as: Senior Citizens Housing & Retirement Communities, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Phs Founders Ridge Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 09/2021, Phs Founders Ridge Inc generated $8.2m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 6.8% each year. All expenses for the organization totaled $8.5m during the year ending 09/2021. While expenses have increased by 8.1% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE ORGANIZATION IS TO HONOR GOD BY ENRICHING THE LIVES AND TOUCHING THE HEARTS OF OLDER ADULTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION IS LOCATED IN BLOOMINGTON MINNESOTA. THE CAMPUS CONSISTS OF 56 INDEPENDENT APARTMENTS, 33 ASSISTED LIVING APARTMENTS AND 19 ASSISTED LIVING APARTMENTS SPECIFIC TO MEMORY CARE. AN ADDITIONAL 71 INDEPENDENT APARTMENTS OPENED IN SEPTEMBER 2020, AND 40 INDEPENDENT BROWNSTONE APARTMENTS OPENED IN DECEMBER 2020.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Duane Larson SVP Operations | OfficerTrustee | 1 | $0 |
Mark Meyer Sec/treas/cfo | OfficerTrustee | 1 | $0 |
Dan Lindh Board Chair/ceo | OfficerTrustee | 1 | $0 |
Jonathan Fletcher VP Development | 1 | $0 | |
Teresa Larson SVP Human Resouces | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Phs Management Llc Management Fee | 9/29/19 | $294,065 |
Doran Architects Architect | 9/29/19 | $317,600 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $746 |
| Government grants | $721,556 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $722,302 |
| Total Program Service Revenue | $7,244,993 |
| Investment income | $762 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $1,753 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,182,417 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $9,508 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,333,164 |
| Pension plan accruals and contributions | $38,408 |
| Other employee benefits | $285,878 |
| Payroll taxes | $178,658 |
| Fees for services: Management | $386,859 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $115,548 |
| Advertising and promotion | $261,049 |
| Office expenses | $97,879 |
| Information technology | $75,235 |
| Royalties | $0 |
| Occupancy | $751,086 |
| Travel | $810 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,685,916 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,585,057 |
| Insurance | $84,263 |
| All other expenses | $0 |
| Total functional expenses | $8,510,051 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,544,446 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $28,462 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $4,829 |
| Net Land, buildings, and equipment | $46,312,236 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,220,396 |
| Investments—program-related | $0 |
| Intangible assets | $788,654 |
| Other assets | $0 |
| Total assets | $50,899,023 |
| Accounts payable and accrued expenses | $1,137,480 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $36,958,254 |
| Escrow or custodial account liability | $8,876,915 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $1,938,769 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,412,372 |
| Total liabilities | $51,323,790 |
| Net assets without donor restrictions | -$424,767 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $50,899,023 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Phs Founders Ridge Inc has recieved totaling $28,720.
| Awarding Organization | Amount |
|---|---|
Presbyterian Homes Foundation Roseville, MN PURPOSE: FURTHER EXEMPT PURPOSE | $28,720 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Minnesota Odd Fellows Home Inc Northfield, MN | $22,867,310 | $19,456,798 |
Oakwood Village Prairie Ridge Homes Inc Madison, WI | $61,014,266 | $15,535,778 |
Volunteers Of America Inc Eden Prairie, MN | $8,598,450 | $19,135,120 |
Friends Of Faith Retirement Homes Inc Waterloo, IA | $88,184,689 | $24,765,907 |
Bethany On 42nd Fargo, ND | $42,982,371 | $19,570,716 |
Phs Cottage Grove Inc Roseville, MN | $59,058,430 | $15,462,606 |
Evans Park Inc Elk River, MN | $42,762,027 | $16,308,522 |
Volunteers Of America Inc Eden Prairie, MN | $2,912,114 | $17,645,281 |
Carondelet Village Inc Roseville, MN | $51,351,409 | $15,659,631 |
Cedar Lake Village Inc Sioux Falls, SD | $38,142,658 | $12,975,916 |
Walker Senior Services Inc Minnetonka, MN | $9,398,482 | $5,933,474 |
Living Community Of St Joseph Minneapolis, MN | $23,852,740 | $12,020,800 |