Glenn Catholic Senior Communities Inc
- Assets
- $61.5m
- Revenue
- $25.0m
- Investments
- $2.1m
- Employees
- 0
- Location
- Plymouth, MN
- Founding
- 06/1986
- Data as of
- 06/2022
- EIN
- 41-1533125
Organization Overview
Glenn Catholic Senior Communities Inc is located in Plymouth, MN. The organization was established in 1986. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Glenn Catholic Senior Communities 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 06/2022, Glenn Catholic Senior Communities Inc generated $25.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.4% each year. All expenses for the organization totaled $25.7m during the year ending 06/2022. While expenses have increased by 6.8% per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
A RETIREMENT COMMUNITY WITH INDEPENDENT AND ASSISTED LIVING APARTMENTS IN HOPKINS AND MINNETONKA, MINNESOTA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEMI-INDEPENDENT ELDERLY HOUSING - THE GLENN OWNS AND OPERATES TWO SENIOR APARTMENT COMPLEXES IN HOPKINS, MINNESOTA WITH 313 APARTMENT UNITS, A 159 UNIT SENIOR APARTMENT COMPLEX IN MINNETONKA, MINNESOTA, AND A 90 UNIT SENIOR APARTMENT COMPLEX IN BUFFALO, MINNESOTA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Cleveland Vice President | OfficerTrustee | 1 | $0 |
Barb Vanhauer President/chair | OfficerTrustee | 1 | $0 |
Michael Pagh CEO | Officer | 5 | $0 |
Frank Fallon Board Member | Trustee | 1 | $0 |
Jane Rauenhorst Board Member | Trustee | 1 | $0 |
James A Mullin Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| 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 | $0 |
| Total Program Service Revenue | $25,007,632 |
| Investment income | $7,475 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $25,015,107 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $761,986 |
| Fees for services: Legal | $12,055 |
| Fees for services: Accounting | $45,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $299,037 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,410,947 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,114,432 |
| Insurance | $0 |
| All other expenses | $1,404,297 |
| Total functional expenses | $25,701,777 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,111,399 |
| Savings and temporary cash investments | $10,432,370 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $858,293 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $500,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $490,496 |
| Net Land, buildings, and equipment | $38,103,117 |
| Investments—publicly traded securities | $1,948,850 |
| Investments—other securities | $2,054,124 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,967,126 |
| Total assets | $61,465,775 |
| Accounts payable and accrued expenses | $2,938,078 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $7,937,011 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $37,338,573 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $436,260 |
| Total liabilities | $48,649,922 |
| Net assets without donor restrictions | $12,815,853 |
| 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 | $61,465,775 |
Endowment Analysis
| Beg. Balance | $2,221,033 |
| Earnings | -$150,212 |
| Admin Expense | $16,697 |
| Ending Balance | $2,054,124 |
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 |