Phseagle Crest Inc
- Assets
- $49.7m
- Revenue
- $13.2m
- Investments
- $4.0m
- Employees
- 0
- Location
- Roseville, MN
- Founding
- 02/1999
- Data as of
- 09/2023
- 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 09/2023, Phseagle Crest Inc generated $13.2m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.8% each year. All expenses for the organization totaled $12.0m during the year ending 09/2023. While expenses have increased by 2.3% per year over the past 8 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
2023
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 |
|---|---|---|---|
Dan Lindh Board Chair/ceo | OfficerTrustee | 1 | $0 |
Mark Meyer Sec/treas - CFO | OfficerTrustee | 1 | $0 |
Jonathan Fletcher VP Development | 1 | $0 | |
Duane Larson Brd Vice Chair | Trustee | 1 | $0 |
Mark Pederson Brd Vice Chair | OfficerTrustee | 1 | $0 |
Teresa Larson SVP Employee Experience | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Phs Management Llc Management Services | 9/29/23 | $681,708 |
Mri Inc Construction | 9/29/23 | $494,394 |
Hamernicks Flooring Services | 9/29/23 | $116,182 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $86,662 |
| Government grants | $2,882 |
| 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 | $89,544 |
| Total Program Service Revenue | $13,237,698 |
| Investment income | $56,314 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$372,329 |
| 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 | -$214 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $13,245,329 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $8,786 |
| 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 | $5,183,851 |
| Pension plan accruals and contributions | $101,970 |
| Other employee benefits | $611,677 |
| Payroll taxes | $390,219 |
| Fees for services: Management | $681,708 |
| Fees for services: Legal | $1,350 |
| Fees for services: Accounting | $4,596 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $111,518 |
| Advertising and promotion | $21,553 |
| Office expenses | $147,087 |
| Information technology | $118,584 |
| Royalties | $0 |
| Occupancy | $1,199,388 |
| Travel | $10,515 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $448 |
| Interest | $1,067,682 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,234,745 |
| Insurance | $174,423 |
| All other expenses | $0 |
| Total functional expenses | $12,045,638 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $19,583,833 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $85,401 |
| 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 | $46,523 |
| Net Land, buildings, and equipment | $24,572,690 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $4,023,269 |
| Investments—program-related | $0 |
| Intangible assets | $292,693 |
| Other assets | $1,077,209 |
| Total assets | $49,681,618 |
| Accounts payable and accrued expenses | $1,266,540 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $17,025,000 |
| 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 | $1,264,171 |
| Total liabilities | $19,555,711 |
| Net assets without donor restrictions | $30,125,907 |
| 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 | $49,681,618 |