Homestead At Rochester Inc
- Assets
- $82.1m
- Revenue
- $23.2m
- Investments
- $0.0
- Employees
- 185
- Location
- Eden Prairie, MN
- Founding
- 10/2003
- Data as of
- 06/2022
- EIN
- 30-0186547
Organization Overview
Homestead At Rochester Inc is located in Eden Prairie, MN. The organization was established in 2003. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. As of 06/2022, Homestead At Rochester Inc employed 185 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Homestead At Rochester 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 06/2022, Homestead At Rochester Inc generated $23.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 12.5% each year . All expenses for the organization totaled $23.8m during the year ending 06/2022. While expenses have increased by 8.5% per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE HOMESTEAD AT ROCHESTER, INC. PROVIDES INDEPENDENT AND ASSISTED LIVING SERVICES AND NURSING AND LONG-TERM CARE SERVICES FOR SENIORS IN MINNESOTA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
King Michael W President | OfficerTrustee | 3 | $0 |
Arnoldpatti Chairperson | OfficerTrustee | 0.1 | $0 |
Rase Nancy Vice Chair | OfficerTrustee | 0.1 | $0 |
Burks Jane Treasurer | OfficerTrustee | 0.1 | $0 |
Dolan Thomas Secretary | OfficerTrustee | 0.1 | $0 |
Carrington Edwina Director | Trustee | 0.1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cura Hospitality Dietary Services | 6/29/22 | $1,702,887 |
Centrex Rehab Contract Therapy Provider | 6/29/22 | $838,094 |
Volunteers Of America National Services Management Services | 6/29/22 | $764,603 |
Voa Home Health Services Home Health Services | 6/29/22 | $692,029 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $1,900,000 |
| Government grants | $1,688,247 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,615 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,592,862 |
| Total Program Service Revenue | $19,646,511 |
| Investment income | $6,536 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $23,245,909 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| 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 | $5,488,181 |
| Pension plan accruals and contributions | $24,332 |
| Other employee benefits | $581,026 |
| Payroll taxes | $330,246 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $15,304 |
| Fees for services: Accounting | $18,025 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,551,598 |
| Advertising and promotion | $128,701 |
| Office expenses | $381,740 |
| Information technology | $168,503 |
| Royalties | $0 |
| Occupancy | $1,332,121 |
| Travel | $146,694 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,689 |
| Interest | $4,447,139 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,697,507 |
| Insurance | $413,477 |
| All other expenses | $188,576 |
| Total functional expenses | $23,797,756 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,594,224 |
| Savings and temporary cash investments | $1,482,254 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,413,995 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $17,510 |
| Prepaid expenses and deferred charges | $359,497 |
| Net Land, buildings, and equipment | $62,960,166 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $12,296,866 |
| Total assets | $82,124,512 |
| Accounts payable and accrued expenses | $2,011,797 |
| Grants payable | $0 |
| Deferred revenue | $13,767 |
| Tax-exempt bond liabilities | $70,378,018 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $9,117,932 |
| Total liabilities | $81,521,514 |
| Net assets without donor restrictions | $602,998 |
| 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 | $82,124,512 |