Capitol Lakes Inc
- Assets
- $41.9m
- Revenue
- $21.8m
- Investments
- $0.0
- Employees
- 439
- Location
- Madison, WI
- Founding
- 09/1982
- Data as of
- 09/2023
- 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 09/2023, Capitol Lakes Inc employed 439 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 09/2023, Capitol Lakes Inc generated $21.8m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (1.4%) each year. All expenses for the organization totaled $24.5m during the year ending 09/2023. As we would expect to see with falling revenues, expenses have declined by (2.2%) per year over the past 8 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
2023
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 | 39 | $279,824 |
Kristin Vater Health Center Administrator | 39 | $154,741 | |
Steven Mellstrom Human Resources Director | 40 | $133,988 | |
Tsering Damdul Registered Nurse | 40 | $122,152 | |
Holly Johnson Sales Director | 40 | $117,588 | |
Dayle Tessner Director Of Nursing | 40 | $123,243 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Pacific Retirement Services Inc Management Services | 9/29/23 | $430,314 |
Orrick Herrington & Sutcliffe Legal Services | 9/29/23 | $270,537 |
Complete Control Maintenance Services | 9/29/23 | $154,337 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $109,028 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $216,060 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $325,088 |
| Total Program Service Revenue | $21,328,284 |
| Investment income | $133,013 |
| Tax Exempt Bond Proceeds | $24 |
| Royalties | $0 |
| Net Rental Income | $17,673 |
| Net Gain/Loss on Asset Sales | -$113,233 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $21,802,691 |
| 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. | $303,915 |
| Compensation of current officers, directors, key employees. | $303,915 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $8,843,643 |
| Pension plan accruals and contributions | $394,205 |
| Other employee benefits | $1,184,340 |
| Payroll taxes | $680,227 |
| Fees for services: Management | $1,625,140 |
| Fees for services: Legal | $73,891 |
| Fees for services: Accounting | $29,138 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $7,241 |
| Fees for services: Other | $1,123,307 |
| Advertising and promotion | $391,597 |
| Office expenses | $697,650 |
| Information technology | $251,088 |
| Royalties | $0 |
| Occupancy | $1,569,463 |
| Travel | $94,158 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $44,079 |
| Interest | $1,811,586 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,402,106 |
| Insurance | $212,295 |
| All other expenses | $0 |
| Total functional expenses | $24,508,647 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,765,632 |
| Savings and temporary cash investments | $1,198,309 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,453,323 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $81,619 |
| Prepaid expenses and deferred charges | $345,433 |
| Net Land, buildings, and equipment | $29,077,951 |
| Investments—publicly traded securities | $6,256,303 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $676,295 |
| Total assets | $41,854,865 |
| Accounts payable and accrued expenses | $2,721,341 |
| Grants payable | $0 |
| Deferred revenue | $10,503,612 |
| Tax-exempt bond liabilities | $32,987,100 |
| Escrow or custodial account liability | $733,678 |
| 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 | $47,759,433 |
| Total liabilities | $94,705,164 |
| Net assets without donor restrictions | -$53,573,094 |
| Net assets with donor restrictions | $722,795 |
| 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 | $41,854,865 |