Phs Maranatha Inc
- Assets
- $25.9m
- Revenue
- $16.2m
- Investments
- $1.2m
- Employees
- 0
- Location
- Roseville, MN
- Founding
- 05/1972
- Data as of
- 09/2023
- EIN
- 41-0855713
Organization Overview
Phs Maranatha Inc is located in Roseville, MN. The organization was established in 1972. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Phs Maranatha 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, Phs Maranatha Inc generated $16.2m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.7% each year. All expenses for the organization totaled $16.4m during the year ending 09/2023. While expenses have increased by 6.6% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE ORGANIZATION IS TO HONOR GOD BY ENRICHING THE LIVES AND TOUCHING THE HEARTS OF OLDER ADULTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION OPERATES A 97 BED SKILLED NURSING FACILITY, 63 ASSISTED LIVING APARTMENTS AND 34 INDEPENDENT LIVING APARTMENTS IN BROOKLYN CENTER, MINNESOTA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dan Lindh Board Chair/ceo | OfficerTrustee | 1 | $0 |
Mark Meyer Sec/treas/cfo | OfficerTrustee | 1 | $0 |
Jonathan Fletcher VP Development | 1 | $0 | |
Duane Larson Brd Vice Chair | Trustee | 1 | $0 |
Mark Pederson Brd Vice Chair | Trustee | 1 | $0 |
Louisa Charlie Lpn | 40 | $156,477 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Phs Management Llc Management Services | 9/29/23 | $595,864 |
Montgomery Brinkman Llc Facility Services | 9/29/23 | $116,974 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $934,996 |
| Government grants | $307,301 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,242,297 |
| Total Program Service Revenue | $14,840,656 |
| Investment income | $33,415 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $3,301 |
| 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 | -$427 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $16,191,944 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $23,033 |
| 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 | $8,550,864 |
| Pension plan accruals and contributions | $200,807 |
| Other employee benefits | $846,080 |
| Payroll taxes | $636,957 |
| Fees for services: Management | $595,864 |
| Fees for services: Legal | $3,283 |
| Fees for services: Accounting | $8,275 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $515,589 |
| Advertising and promotion | $27,199 |
| Office expenses | $143,534 |
| Information technology | $191,071 |
| Royalties | $0 |
| Occupancy | $704,977 |
| Travel | $16,416 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,261 |
| Interest | $512,640 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,278,327 |
| Insurance | $156,418 |
| All other expenses | $119,555 |
| Total functional expenses | $16,359,729 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,959,606 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,653,098 |
| 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 | $17,722 |
| Net Land, buildings, and equipment | $19,987,507 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,215,310 |
| Investments—program-related | $0 |
| Intangible assets | $95,277 |
| Other assets | $0 |
| Total assets | $25,928,520 |
| Accounts payable and accrued expenses | $940,377 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $12,310,322 |
| Escrow or custodial account liability | $30,127 |
| 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 | $7,422,841 |
| Total liabilities | $20,703,667 |
| Net assets without donor restrictions | $5,224,853 |
| 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 | $25,928,520 |