Northcrest Inc
- Assets
- $86.5m
- Revenue
- $12.2m
- Investments
- $0.0
- Employees
- 170
- Location
- Ames, IA
- Founding
- 06/1963
- Data as of
- 12/2021
- EIN
- 42-0883987
Organization Overview
Northcrest Inc is located in Ames, IA. The organization was established in 1963. 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 12/2021, Northcrest Inc employed 170 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Northcrest 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 12/2021, Northcrest Inc generated $12.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.5% each year. All expenses for the organization totaled $11.5m during the year ending 12/2021. While expenses have increased by 8.8% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE LIFETIME CARE SERVICES TO RESIDENTS
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PRINCIPALLY PROVIDES HOUSING, HEALTH CARE, AND OTHER RELATED SERVICES TO RESIDENTS THROUGH THE OPERATION OF A LIFE CARE FACILITY CONTAINING 42 TOWNHOMES, 116 APARTMENTS, 32 ASSISTED LIVING APARTMENTS, A 40 BED HEALTH CARE CENTER, AND A 14 BED ALZHEIMERS UNIT.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dawn Borwig CEO | Officer | 45 | $154,836 |
Heidi Palmer CFO | Officer | 45 | $74,038 |
John Tillo Secretary | OfficerTrustee | 4 | $0 |
David Carlyle Vice President | OfficerTrustee | 4 | $0 |
Jere C Maddux Treasurer | OfficerTrustee | 4 | $0 |
Joe Traylor President | OfficerTrustee | 4 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mechanical Comfort Inc Hvac | 12/30/21 | $219,101 |
Cbs Construction Services Inc Building Contracting | 12/30/21 | $4,934,741 |
Martin Brothers Dist Co Inc Delivery | 12/30/21 | $633,651 |
Spellman Brady & Company Construction | 12/30/21 | $125,893 |
Hedrick Construction Inc Building Contracting | 12/30/21 | $157,640 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $119,245 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $88,938 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $208,183 |
| Total Program Service Revenue | $10,651,692 |
| Investment income | $733,291 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $444,024 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $12,178,532 |
| 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. | $240,345 |
| Compensation of current officers, directors, key employees. | $240,345 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,921,432 |
| Pension plan accruals and contributions | $61,979 |
| Other employee benefits | $338,444 |
| Payroll taxes | $285,837 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $24,912 |
| Fees for services: Accounting | $22,750 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $79,920 |
| Fees for services: Other | $97,760 |
| Advertising and promotion | $59,777 |
| Office expenses | $0 |
| Information technology | $90,832 |
| Royalties | $0 |
| Occupancy | $1,014,050 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,195,791 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,611,561 |
| Insurance | $201,450 |
| All other expenses | $0 |
| Total functional expenses | $11,519,892 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,585,130 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $41,051 |
| 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 | $15,166 |
| Net Land, buildings, and equipment | $59,775,919 |
| Investments—publicly traded securities | $20,168,255 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,921,852 |
| Total assets | $86,507,373 |
| Accounts payable and accrued expenses | $2,089,624 |
| Grants payable | $0 |
| Deferred revenue | $24,549,171 |
| Tax-exempt bond liabilities | $38,974,953 |
| Escrow or custodial account liability | $0 |
| 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 | $253,772 |
| Total liabilities | $65,867,520 |
| Net assets without donor restrictions | $20,639,853 |
| 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 | $86,507,373 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lutheran Home For The Aged Arlington Heights, IL | $131,494,614 | $46,009,976 |
Lindengrove Inc Brookfield, WI | $53,159,981 | $37,652,858 |
Friendship Village Of West County Chesterfield, MO | $195,171,509 | $29,494,334 |
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 |
The Mather Evanston Evanston, IL | $197,036,841 | $28,903,935 |
Covenant Health Care Center Inc Northbrook, IL | $80,834,072 | $35,580,141 |
Plymouth Place Inc Lagrange Park, IL | $140,283,826 | $32,345,507 |
Covenant Living Communities And Services Skokie, IL | $297,389,461 | $56,944,036 |
Windsor Park Manor Carol Stream, IL | $83,906,843 | $31,750,649 |