Apartment Community Of Our Lady Of The Snows
- Assets
- $30.2m
- Revenue
- $3.6m
- Investments
- $80.7k
- Employees
- 139
- Location
- Minneapolis, MN
- Founding
- 03/1946
- Data as of
- 06/2021
- EIN
- 37-0909113
Organization Overview
Apartment Community Of Our Lady Of The Snows, operating under the name Benedictine Living Community At the Shrine, is located in Minneapolis, MN. The organization was established in 1946. 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. As of 06/2021, Benedictine Living Community At the Shrine employed 139 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Benedictine Living Community At the Shrine 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 06/2021, Benedictine Living Community At the Shrine generated $3.6m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (13.2%) each year. All expenses for the organization totaled $4.3m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (9.3%) per year over the past 7 years. 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
BENEDICTINE IS A CATHOLIC, FAITH-BASED ORGANIZATION ENTRUSTED WITH ADVANCING THE LIFE-ENHANCING SENIOR CARE MINISTRY OF THE BENEDICTINE SISTERS OF DULUTH, MINNESOTA. WE WITNESS TO GOD'S LOVE BY CREATING INCLUSIVE COMMUNITIES, SUPPORTING THOSE WE SERVE TO LIVE WELL AND WITH PURPOSE, WITH SPECIAL CONCERN FOR THE UNDERSERVED.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BENEDICTINE LIVING COMMUNITY AT THE SHRINE PROVIDES HEALTH CARE AND OTHER RELATED SERVICES TO THE ELDERLY. FACILTIES INCLUDE A 57-BED SKILLED NURSING FACILITY WHICH WHICH HAD AN AVERAGE CENSUS OF 37 RESIDENTS, 30 SHELTER CARE UNITS THAT HAD AN AVERAGE CENSUS OF 28 RESIDENTS, AND 89 INDEPENDENT LIVING APARTMENTS THAT HAD AN AVERAGE OCCUPANCY OF 51. THE COMMUNITY SERVED 159 INDIVIDUALS DURING THE 6-MONTH PERIOD ENDING 6/30/21.
BLC-AT THE SHRINE PROVIDES ASSISTANCE TO RESIDENTS WHO HAVE FINANCIAL DIFFICULTIES PAYING FOR SERVICES PROVIDED. KEY ELEMENTS TO DETERMINE ELIGIBILITY INCLUDE A RESIDENT'S DEMONSTRATED INABILITY TO PY BASED ON FINANCIAL ASSETS AND INCOME. DURING THE SIX-MONTH PERIOD ENDED JUNE 30, 2021, BLC-AT THE SHRINE PROVIDED CHARITY CARE OF $31,115. THIS ASSISTANCE IS REPORTED AS AN OFFSET TO REVENUE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Roy Lantry Vice Chairperson | OfficerTrustee | 1 | $0 |
Ron Stephens Chairperson | OfficerTrustee | 1 | $0 |
Jerry Carley President/benedictine CEO | OfficerTrustee | 1 | $0 |
Kevin Rymanowski Benedictine Cfo/treasurer | OfficerTrustee | 1 | $0 |
Heather Stitch Executive Director | Officer | 40 | $0 |
Amy Balance Secretary | Officer | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Executive Freedom Partners Interim Executive Director | 12/30/20 | $215,834 |
National Shrine Our Lady Of The Sno Utilities | 12/30/20 | $237,955 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,610 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,610 |
| Total Program Service Revenue | $3,190,954 |
| Investment income | $396,206 |
| 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 | $3,604,398 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $50 |
| 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 | $1,954,243 |
| Pension plan accruals and contributions | $43,301 |
| Other employee benefits | $297,265 |
| Payroll taxes | $141,605 |
| Fees for services: Management | $198,474 |
| Fees for services: Legal | $1,112 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $306,711 |
| Advertising and promotion | $64,983 |
| Office expenses | $24,616 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $357,936 |
| Travel | $1,895 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $103,756 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $334,173 |
| Insurance | $65,017 |
| All other expenses | $24,439 |
| Total functional expenses | $4,330,871 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $100,187 |
| Savings and temporary cash investments | $9,249,474 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $42,247 |
| 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 | $13,303 |
| Net Land, buildings, and equipment | $10,819,351 |
| Investments—publicly traded securities | $9,871,198 |
| Investments—other securities | $80,734 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $30,176,494 |
| Accounts payable and accrued expenses | $995,725 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $7,055,650 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,635,880 |
| Total liabilities | $9,687,255 |
| Net assets without donor restrictions | $20,489,239 |
| 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 | $30,176,494 |
Endowment Analysis
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