Phseagle Crest Inc
- Assets
- $50.0m
- Revenue
- $13.3m
- Investments
- $4.2m
- Employees
- 0
- Location
- Roseville, MN
- Founding
- 02/1999
- Data as of
- 09/2021
- EIN
- 31-1604817
Organization Overview
Phseagle Crest Inc is located in Roseville, MN. The organization was established in 1999. According to its NTEE Classification (P75) the organization is classified as: Supportive Housing for Older Adults, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Phseagle Crest 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, Phseagle Crest Inc generated $13.3m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.4% each year. All expenses for the organization totaled $11.2m during the year ending 09/2021. While expenses have increased by 1.9% 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
PHS EAGLECREST, INC. IS LOCATED IN ROSEVILLE, MN AND CONSISTS OF 36 APARTMENT MEMORY CARE SPECIFIC ASSITED LIVING, 90 TRADITIONAL ASSISTED LIVING APARTMENTS, AND 127 INDEPENDENT SENIOR APARTMENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Duane Larson SVP Operations | OfficerTrustee | 1 | $0 |
Dan Lindh Board Chair/ceo | OfficerTrustee | 1 | $0 |
Mark Meyer Sec/treas - CFO | OfficerTrustee | 1 | $0 |
Jonathan Fletcher VP Development | 1 | $0 | |
Teresa Larson SVP Human Resources | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Phs Management Llc Management Services | 9/29/21 | $611,568 |
Mri Inc Construction | 9/29/21 | $275,618 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $57,937 |
| Government grants | $1,344,286 |
| 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 | $1,402,223 |
| Total Program Service Revenue | $11,891,777 |
| Investment income | $35,535 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$315,586 |
| 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 | $711 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $13,266,869 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $2,203 |
| 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 | $4,605,574 |
| Pension plan accruals and contributions | $103,709 |
| Other employee benefits | $622,849 |
| Payroll taxes | $348,049 |
| Fees for services: Management | $611,568 |
| 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 | $67,400 |
| Advertising and promotion | $9,031 |
| Office expenses | $146,777 |
| Information technology | $106,411 |
| Royalties | $0 |
| Occupancy | $1,009,138 |
| Travel | $713 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $270 |
| Interest | $1,129,100 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,299,422 |
| Insurance | $142,041 |
| All other expenses | $0 |
| Total functional expenses | $11,223,920 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $16,976,631 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $178,095 |
| 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 | $43,656 |
| Net Land, buildings, and equipment | $26,115,744 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $4,244,315 |
| Investments—program-related | $0 |
| Intangible assets | $362,089 |
| Other assets | $2,071,333 |
| Total assets | $49,991,863 |
| Accounts payable and accrued expenses | $1,860,712 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $18,270,000 |
| 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 | $859,369 |
| Total liabilities | $20,990,081 |
| Net assets without donor restrictions | $29,001,782 |
| 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 | $49,991,863 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Phseagle Crest Inc has recieved totaling $57,937.
| Awarding Organization | Amount |
|---|---|
Presbyterian Homes Foundation Roseville, MN PURPOSE: FURTHER EXEMPT PURPOSE | $57,937 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lindengrove Inc Brookfield, WI | $53,159,981 | $37,652,858 |
Benevolent Corporation Cedar Community West Bend, WI | $115,395,812 | $41,115,280 |
Volunteers Of America Care Facilities Eden Prairie, MN | $34,098,364 | $41,433,516 |
Valley Senior Services Alliance Roseville, MN | $92,212,429 | $35,168,419 |
Saint Therese Of New Hope St Louis Park, MN | $31,804,224 | $36,427,083 |
Saint Johns Communities Inc Milwaukee, WI | $267,147,546 | $26,978,103 |
Presbyterian Homes Of Arden Hills Inc Roseville, MN | $68,220,110 | $29,055,542 |
Colonial Acres Home Inc Minneapolis, MN | $44,505,030 | $24,567,557 |
Minnesota Masonic Home Care Center Bloomington, MN | $30,061,653 | $29,200,433 |
United Lutheran Program For The Aging Inc Wauwatosa, WI | $44,109,199 | $32,538,554 |
Walker Methodist Health Center Inc Minnetonka, MN | $38,407,480 | $30,508,941 |
St Camillus Health Center Inc Wauwatosa, WI | $17,344,882 | $23,323,264 |