Capitol Lakes Inc
- Assets
- $43.5m
- Revenue
- $22.1m
- Investments
- $0.0
- Employees
- 396
- Location
- Madison, WI
- Founding
- 09/1982
- Data as of
- 09/2021
- EIN
- 39-1412320
Organization Overview
Capitol Lakes Inc is located in Madison, WI. The organization was established in 1982. 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 09/2021, Capitol Lakes Inc employed 396 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Capitol Lakes 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, Capitol Lakes Inc generated $22.1m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (1.7%) each year. All expenses for the organization totaled $22.9m during the year ending 09/2021. As we would expect to see with falling revenues, expenses have declined by (4.0%) per year over the past 6 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
TO PROVIDE CARE AND HOUSING FOR THE ELDERLY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CAPITOL LAKES IS A CONTINUING CARE RETIREMENT COMMUNITY, DEDICATED TO ENHANCING OUR RESIDENTS' QUALITY OF LIFE IN A STIMULATING, SECURE ENVIRONMENT. WE PROVIDE HIGH-QUALITY SERVICES INCLUDING HOUSING, NUTRITIOUS MEALS, NURSING, HOUSEKEEPING, MAINTENANCE, AND OTHER SUPPORT TO THOSE WE SERVE. OUR LEVELS OF SERVICE INCLUDE INDEPENDENT LIVING, ASSISTED LIVING, AND SKILLED NURSING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tim Conroy Executive Director | Officer | 40 | $246,382 |
Kristin Vater Health Center Administrator | 40 | $146,224 | |
Dayle Tessner Director Of Nursing | 40 | $125,952 | |
Steven Mellstrom Hr Director | 40 | $113,214 | |
Clay Norrbom Vice Chair | OfficerTrustee | 1 | $0 |
Sally Drew Secretary/treasurer | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Consonus Rehab Therapy Services | 9/29/21 | $1,047,100 |
Hometown Long-term Care Pharmacy Llc Pharmacy Services | 9/29/21 | $496,141 |
Mcgann Construction Inc Construction Services | 9/29/21 | $1,001,900 |
Pacific Retirement Services Inc Management Services | 9/29/21 | $1,392,073 |
Lapis Advisers Lp Investment Services | 9/29/21 | $793,148 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $66,000 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $168,440 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $234,440 |
| Total Program Service Revenue | $21,732,097 |
| Investment income | $55,986 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $16,658 |
| Net Gain/Loss on Asset Sales | $15,819 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $22,055,000 |
| 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. | $272,463 |
| Compensation of current officers, directors, key employees. | $272,463 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $8,727,162 |
| Pension plan accruals and contributions | $406,957 |
| Other employee benefits | $1,329,175 |
| Payroll taxes | $649,118 |
| Fees for services: Management | $1,525,022 |
| Fees for services: Legal | $4,176 |
| Fees for services: Accounting | $25,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $4,140 |
| Fees for services: Other | $956,053 |
| Advertising and promotion | $324,143 |
| Office expenses | $1,168,680 |
| Information technology | $204,469 |
| Royalties | $0 |
| Occupancy | $1,371,956 |
| Travel | $33,499 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $79,231 |
| Interest | $32,263 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,562,015 |
| Insurance | $205,294 |
| All other expenses | $0 |
| Total functional expenses | $22,903,779 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,175,147 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,677,292 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $112,619 |
| Prepaid expenses and deferred charges | $380,767 |
| Net Land, buildings, and equipment | $32,510,784 |
| Investments—publicly traded securities | $2,764,650 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $833,011 |
| Total assets | $43,454,270 |
| Accounts payable and accrued expenses | $2,350,862 |
| Grants payable | $0 |
| Deferred revenue | $9,547,129 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $637,132 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $43,912,946 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $45,391,273 |
| Total liabilities | $101,839,342 |
| Net assets without donor restrictions | -$59,278,106 |
| Net assets with donor restrictions | $893,034 |
| 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 | $43,454,270 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Capitol Lakes Inc has recieved totaling $23,755.
| Awarding Organization | Amount |
|---|---|
Pacific Retirement Services Inc Medford, OR PURPOSE: GENERAL OPERATING SUPPORT | $23,755 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lutheran Home For The Aged Arlington Heights, IL | $131,494,614 | $46,009,976 |
United Methodist Retirement Communities Inc Chelsea, MI | $156,901,085 | $36,318,347 |
Michigan Masonic Home Alma, MI | $52,789,973 | $43,622,202 |
Henry Ford Village Inc Dearborn, MI | $17,115,339 | $84,991,852 |
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 |
Porter Hills Presbyterian Village Inc Grand Rapids, MI | $106,049,937 | $39,306,850 |
The Mather Evanston Evanston, IL | $197,036,841 | $28,903,935 |
Covenant Health Care Center Inc Northbrook, IL | $80,834,072 | $35,580,141 |