Oak Meadows
- Assets
- $7.4m
- Revenue
- $5.7m
- Investments
- $217.5k
- Employees
- 0
- Location
- Oakdale, MN
- Founding
- 09/1995
- Data as of
- 12/2023
- EIN
- 41-1823545
Organization Overview
Oak Meadows is located in Oakdale, MN. The organization was established in 1995. According to its NTEE Classification (P80) the organization is classified as: Centers to Support the Independence of Specific Populations, 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. Oak Meadows 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, Oak Meadows generated $5.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.1% each year. All expenses for the organization totaled $6.0m during the year ending 12/2023. While expenses have increased by 9.0% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE INDEPENDENT, ASSISTED AND MEMORY CARE HOUSING AND SERVICES TO SENIORS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION OWNS AND OPERATES A 48-UNIT ASSISTED LIVING FACILITY, A 62-UNIT INDEPENDENT LIVING FACILITY, AND A 12-UNIT MEMORY CARE FACILITY FOR THE ELDERLY. DURING THE YEAR ENDED DECEMBER 31, 2023, THE OCCUPANCY PERCENTAGE WAS 97.8% FOR THE ASSISTED LIVING FACILITY, 98.8% FOR THE INDEPENDENT LIVING FACILITY, AND 97.2% FOR THE MEMORY CARE FACILITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Kuhrmeyer President | OfficerTrustee | 1 | $0 |
Elizabeth Omara Vice President | OfficerTrustee | 1 | $0 |
Larry Wilford Treasurer | OfficerTrustee | 1 | $0 |
Nancy Neubauer Secretary | OfficerTrustee | 1 | $0 |
Vi Lincowski Directors | Trustee | 1 | $0 |
Dennis Peterson Directors | 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 | $28,767 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $28,767 |
| Total Program Service Revenue | $5,538,864 |
| Investment income | $9,617 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $38,510 |
| 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 | $9,779 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,679,708 |
| 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 | $2,568,526 |
| Pension plan accruals and contributions | $77,828 |
| Other employee benefits | $469,124 |
| Payroll taxes | $209,853 |
| Fees for services: Management | $282,118 |
| Fees for services: Legal | $6,149 |
| Fees for services: Accounting | $44,478 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $37,602 |
| Advertising and promotion | $79,229 |
| Office expenses | $49,167 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $735,331 |
| Travel | $45,938 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $12,837 |
| Interest | $256,993 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $652,351 |
| Insurance | $0 |
| All other expenses | $21,276 |
| Total functional expenses | $6,004,073 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $86,615 |
| Savings and temporary cash investments | $440,264 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $25,865 |
| 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 | $17,634 |
| Net Land, buildings, and equipment | $6,552,917 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $217,485 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $61,112 |
| Total assets | $7,401,892 |
| Accounts payable and accrued expenses | $619,307 |
| Grants payable | $0 |
| Deferred revenue | $5,612 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $55,700 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $7,163,493 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $355,300 |
| Total liabilities | $8,199,412 |
| Net assets without donor restrictions | -$1,062,511 |
| Net assets with donor restrictions | $264,991 |
| 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 | $7,401,892 |