Colonial Acres Home Inc
- Assets
- $44.5m
- Revenue
- $24.6m
- Investments
- $5.4m
- Employees
- 388
- Location
- Minneapolis, MN
- Founding
- 07/1975
- Data as of
- 09/2021
- EIN
- 41-0841150
Organization Overview
Colonial Acres Home Inc is located in Minneapolis, MN. The organization was established in 1975. 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, Colonial Acres Home Inc employed 388 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Colonial Acres Home 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, Colonial Acres Home Inc generated $24.6m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 4.2% each year. All expenses for the organization totaled $29.3m during the year ending 09/2021. While expenses have increased by 5.3% per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
CARE FOR SENIOR ADULTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RESIDENTIAL LIVING: THE NUMBER OF PERSONS WHO BENEFITED FROM THE SERVICES WE PROVIDED FOR THE YEAR ENDED SEPTEMBER 30, 2021 WERE AS FOLLOWS:THERE WERE A TOTAL OF 218 RESIDENTS, OCCUPYING 170 APARTMENTS AT 09/30/2021. RESIDENCY FOR THE FISCAL YEAR TOTALED 79,034 RESIDENT DAYS.
ASSISTED LIVING: THE NUMBER OF PERSONS WHO BENEFITED FROM THE SERVICES WE PROVIDED FOR THE YEAR ENDED SEPTEMBER 30, 2021 WERE AS FOLLOWS:THERE WERE A TOTAL OF 43 ASSISTED LIVING RESIDENTS AT 09/30/2021. ASSISTED LIVING RESIDENCY FOR THE FISCAL YEAR TOTALED 14,626 RESIDENT DAYS.
SKILLED NURSING: THE NUMBER OF PERSONS WHO BENEFITED FROM THE SERVICES WE PROVIDED FOR THE YEAR ENDED SEPTEMBER 30, 2021 WERE AS FOLLOWS:THERE WERE A TOTAL OF 61 SKILLED CARE RESIDENTS AT 09/30/2021. SKILLED CARE RESIDENCY FOR THE FISCAL YEAR TOTALED 21,799 RESIDENT DAYS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Angell Executive Director | Officer | 40 | $200,632 |
Heather Bell Associate Executive Director | 40 | $123,133 | |
Christine Murungi Delander Healthcare Administrator | 40 | $120,079 | |
John Haugen Regional Director Of Facilities Mgmt | 40 | $119,710 | |
Mary King Nurse, Rn | 40 | $110,031 | |
Catherine Mensing Director Of Human Resources | 40 | $109,490 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ajw Contracting Inc Construction/renovation | 9/29/21 | $650,236 |
Nordic Services Construction | 9/29/21 | $191,357 |
Hunerberg Construction Company Construction/renovation | 9/29/21 | $204,027 |
Genesis Rehabilitation Service Therapy | 9/29/21 | $643,469 |
Sodexo Inc & Affiliates Dining Services | 9/29/21 | $468,145 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $77,017 |
| Related organizations | $0 |
| Government grants | $1,836,629 |
| All other contributions, gifts, grants, and similar amounts not included above | $661,653 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,575,299 |
| Total Program Service Revenue | $20,587,705 |
| Investment income | $281,527 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $20,599 |
| Net Gain/Loss on Asset Sales | $562,277 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $24,567,557 |
| 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. | $210,762 |
| Compensation of current officers, directors, key employees. | $210,762 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $9,362,291 |
| Pension plan accruals and contributions | $318,722 |
| Other employee benefits | $1,123,281 |
| Payroll taxes | $761,503 |
| Fees for services: Management | $106,361 |
| Fees for services: Legal | $28,310 |
| Fees for services: Accounting | $10,288 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,046,401 |
| Advertising and promotion | $204,833 |
| Office expenses | $1,009,464 |
| Information technology | $619,087 |
| Royalties | $0 |
| Occupancy | $1,501,470 |
| Travel | $5,807 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $45,406 |
| Interest | $2,010,590 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,266,569 |
| Insurance | $304,900 |
| All other expenses | $364,414 |
| Total functional expenses | $29,334,988 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $16,939 |
| Savings and temporary cash investments | $101,966 |
| Pledges and grants receivable | $469,318 |
| Accounts receivable, net | $2,401,132 |
| 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 | $18,634 |
| Net Land, buildings, and equipment | $28,072,412 |
| Investments—publicly traded securities | $7,970,540 |
| Investments—other securities | $5,385,927 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $68,162 |
| Total assets | $44,505,030 |
| Accounts payable and accrued expenses | $128,571 |
| Grants payable | $0 |
| Deferred revenue | $9,455,473 |
| Tax-exempt bond liabilities | $33,491,254 |
| Escrow or custodial account liability | $56,813 |
| 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 | $39,203,346 |
| Total liabilities | $82,335,457 |
| Net assets without donor restrictions | -$38,057,075 |
| Net assets with donor restrictions | $226,648 |
| 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 | $44,505,030 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Colonial Acres Home Inc has recieved totaling $148.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $148 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Wesley Retirement Services Inc Johnston, IA | $293,962,808 | $95,958,203 |
American Baptist Homes Of The Midwest Eden Prairie, MN | $108,679,922 | $74,595,606 |
Presbyterian Homes Housing And Assisted Living Inc Roseville, MN | $328,963,538 | $77,981,814 |
Northwest Senior Housing Corporation West Des Moines, IA | $270,336,764 | $32,213,860 |
Sanford-Good Samaritan Community Health Services Llc Sioux Falls, SD | $42,246,559 | $49,986,329 |
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 |
Saint Johns Communities Inc Milwaukee, WI | $267,147,546 | $26,978,103 |
Presbyterian Homes Of Arden Hills Inc Roseville, MN | $68,220,110 | $29,055,542 |