Living Services Foundation
- Assets
- $11.7m
- Revenue
- $6.6m
- Investments
- $0.0
- Employees
- 131
- Location
- Minneapolis, MN
- Founding
- 06/2000
- Data as of
- 06/2021
- EIN
- 41-1936717
Organization Overview
Living Services Foundation is located in Minneapolis, MN. The organization was established in 2000. According to its NTEE Classification (E20) the organization is classified as: Hospitals, under the broad grouping of Health Care and related organizations. As of 06/2021, Living Services Foundation employed 131 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Living Services Foundation 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 06/2021, Living Services Foundation generated $6.6m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.5%) each year. All expenses for the organization totaled $6.6m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (5.9%) per year over the past 7 years. 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
HOUSING AND LONG-TERM CARE FACILITIES FOR THE ELDERLY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION OWNS AND PROVIDES MANAGEMENT OVERSIGHT TO THE FOLLOWING WHOLLY OWNED SUBSIDIARIES:LIVING SERVICES FOUNDATION/MINNEOTA, LLC CONSISTS OF A 57-BED SKILLED NURSING FACILITY AND 33-UNIT ASSISTED LIVING FACILITY LOCATED IN MINNEOTA, MINNESOTA. LIVING SERVICES FOUNDATION/MORA, LLC CONSISTS OF A 65-BED SKILLED NURSING FACILITY, A 35-UNIT ASSISTED LIVING FACILITY, AND CLINIC SPACE FOR LSF MORA, LLC, LOCATED IN MORA, MINNESOTA. BENEDICTINE LIVING COMMUNITY OF MORA OPERATES THE FACILITIES OWNED BY LIVING SERVICES FOUNDATION/MORA, LLC AND MANAGES A 30 UNIT ASSISTED LIVING BUILDING FOR A THIRD PARTY IN MORA, MN.THE ORGANIZATION OPERATES LIVING SERVICES FOUNDATION - MINNEOTA, LIVING SERVICES FOUNDATION/MORA, LLC AND BENEDICTINE LIVING COMMUNITY OF MORA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dennis Kamstra President/ceo/board Member | OfficerTrustee | 1 | $98,145 |
Robert Sundberg Chair | OfficerTrustee | 5 | $10,000 |
Rod Pakonen Board Member | Trustee | 5 | $10,000 |
Paul Sanders Board Member | Trustee | 5 | $10,000 |
Jennifer Gleason Coo/secretary/treasurer | Officer | 33 | $174,434 |
Kathy Johnson Administrator | 40 | $119,819 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Big Stone Therapies Physical, Occupational, Speech Therapy | 6/29/21 | $611,956 |
Prime Time Health Care Agency Staffing | 6/29/21 | $108,850 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $514 |
| 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 | $6,646,276 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $4,006 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $405,454 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,043,701 |
| Pension plan accruals and contributions | $15,813 |
| Other employee benefits | $345,674 |
| Payroll taxes | $217,537 |
| Fees for services: Management | $242,802 |
| Fees for services: Legal | $14,380 |
| Fees for services: Accounting | $39,904 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $200,543 |
| Advertising and promotion | $22,749 |
| Office expenses | $158,362 |
| Information technology | $9,935 |
| Royalties | $0 |
| Occupancy | $200,726 |
| Travel | $893 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $198,864 |
| Interest | $492,496 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $378,718 |
| Insurance | $79,040 |
| All other expenses | $0 |
| Total functional expenses | $6,563,182 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,913,296 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $805,043 |
| 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 | $214,121 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,475,760 |
| Total assets | $11,713,734 |
| Accounts payable and accrued expenses | $752,823 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $7,971,206 |
| Escrow or custodial account liability | $20,604 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $1,400,000 |
| Secured mortgages and notes payable | $63,563 |
| Unsecured mortgages and notes payable | $843,426 |
| Other liabilities | $4,336,830 |
| Total liabilities | $15,388,452 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | -$3,674,718 |