Harwood Place Inc
- Assets
- $18.2m
- Revenue
- $11.3m
- Investments
- $0.0
- Employees
- 123
- Location
- Wauwatosa, WI
- Founding
- 03/1990
- Data as of
- 12/2023
- EIN
- 39-1531532
Organization Overview
Harwood Place Inc is located in Wauwatosa, WI. The organization was established in 1990. According to its NTEE Classification (L22) the organization is classified as: Senior Citizens Housing & Retirement Communities, under the broad grouping of Housing & Shelter and related organizations. As of 12/2023, Harwood Place Inc employed 123 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Harwood Place 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 12/2023, Harwood Place Inc generated $11.3m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 4.0% each year. All expenses for the organization totaled $8.8m during the year ending 12/2023. 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
HARWOOD PLACE PROVIDES ASSISTED LIVING AND INDEPENDENT LIVING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RETIREMENT HOUSING - HARWOOD LEASES 170 INDEPENDENT LIVING APARTMENTS THAT ARE ALL LICENSED AS RCAC'S. THE APARTMENTS RANGE IN SQUARE FOOTAGE WITH ONE OR TWO BEDROOM OPTIONS. SERVICES OFFERED INCLUDE A WELLNESS CENTER, RESTAURANT, GIFT SHOP, EXTRACURRICULAR ACTIVITIES, MEAL PLAN, HOUSEKEEPING SERVICES, LAUNDRY ROOMS, GUEST ROOMS, IN-HOUSE BEAUTY SHOP, CHAPEL SERVICES, AND RCAC SERVICES. DURING THE YEAR HARWOOD AVERAGED 138 LEASED APARTMENTS.
COMMUNITY BASED RESIDENTIAL FACILITY - HARWOOD HAS A 32 UNIT CBRF FOR FRAIL ELDERLY NOT NEEDING NURSING HOME SERVICES YET BUT UNABLE TO LIVE INDEPENDENTLY. THE SERVICES OFFERED ARE 24 HOUR NURSING SERVICES, 3 MEALS PER DAY, HOUSEKEEPING, AND LAUNDRY SERVICES. THE CBRF RESIDENTS ALSO HAVE ACCESS TO THE WELLNESS CENTER, IN-HOUSE BEAUTY SHOP, CHAPEL SERVICES, AND EXTRACURRICULAR ACTIVITIES. DURING THE YEAR HARWOOD AVERAGED 30 FILLED CBRF ROOMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tim Reardon Chairperson | OfficerTrustee | 1 | $0 |
Dave Sandstrom Vice Chairperson | OfficerTrustee | 1 | $0 |
Kris Surma Treasurer | OfficerTrustee | 1 | $0 |
Diane Ehn Secretary | OfficerTrustee | 1 | $0 |
Chytania Brown Director | Trustee | 1 | $0 |
Jim Denor Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Stier Construction Apartment Renovation Services | 12/30/23 | $1,391,631 |
Trees On The Move Roof Renovation, Landscaping | 12/30/23 | $311,155 |
A & A Contractors Apartment Renovation Services | 12/30/23 | $239,864 |
Red Stone Enterprises Apartment Renovation Services | 12/30/23 | $150,400 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $2,500,000 |
| Government grants | $64,490 |
| All other contributions, gifts, grants, and similar amounts not included above | $126,663 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,691,153 |
| Total Program Service Revenue | $8,367,114 |
| Investment income | $158,864 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $39,472 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,256,603 |
| 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. | $109,875 |
| Compensation of current officers, directors, key employees. | $109,875 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,038,572 |
| Pension plan accruals and contributions | $34,838 |
| Other employee benefits | $358,774 |
| Payroll taxes | $228,509 |
| Fees for services: Management | $642,344 |
| Fees for services: Legal | $2,138 |
| Fees for services: Accounting | $14,753 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $600,222 |
| Advertising and promotion | $89,485 |
| Office expenses | $163,364 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $713,011 |
| Travel | $11,913 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $307,129 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,729,311 |
| Insurance | $125,320 |
| All other expenses | $59,708 |
| Total functional expenses | $8,785,117 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $433,049 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $55,822 |
| 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 | $13,661 |
| Net Land, buildings, and equipment | $12,495,621 |
| Investments—publicly traded securities | $5,007,658 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $188,469 |
| Total assets | $18,194,280 |
| Accounts payable and accrued expenses | $830,432 |
| Grants payable | $0 |
| Deferred revenue | $1,604,663 |
| Tax-exempt bond liabilities | $8,644,036 |
| Escrow or custodial account liability | $20,178,290 |
| 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 | $6,366 |
| Total liabilities | $31,263,787 |
| Net assets without donor restrictions | -$13,190,719 |
| Net assets with donor restrictions | $121,212 |
| 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 | $18,194,280 |