Northcrest Inc
- Assets
- $83.4m
- Revenue
- $14.4m
- Investments
- $0.0
- Employees
- 187
- Location
- Ames, IA
- Founding
- 06/1963
- Data as of
- 12/2022
- 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 12/2022, Northcrest Inc employed 187 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 12/2022, Northcrest Inc generated $14.4m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.0% each year . All expenses for the organization totaled $12.4m during the year ending 12/2022. While expenses have increased by 10.0% 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
2022
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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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dawn Borwig CEO | Officer | 45 | $171,721 |
Heidi Palmer CFO | Officer | 45 | $122,606 |
Sarah Heikens Director | Trustee | 2 | $0 |
Mary Ellen Carano Director | Trustee | 2 | $0 |
Ken Augustine Director | Trustee | 2 | $0 |
Jere C Maddux Treasurer | OfficerTrustee | 4 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Martin Brothers Dist Co Inc Delivery | 12/30/22 | $303,311 |
Mechanical Comfort Inc Hvac | 12/30/22 | $121,639 |
Redekers Fine Home Furnishings Furniture Construction | 12/30/22 | $124,208 |
T & E Construction Construction | 12/30/22 | $118,613 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $111,840 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $25,375 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $137,215 |
| Total Program Service Revenue | $11,786,980 |
| Investment income | $1,077,075 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $280,458 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $14,409,624 |
| 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. | $313,592 |
| Compensation of current officers, directors, key employees. | $313,592 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,474,608 |
| Pension plan accruals and contributions | $61,432 |
| Other employee benefits | $362,001 |
| Payroll taxes | $358,876 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $92,570 |
| Fees for services: Accounting | $23,950 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $80,834 |
| Fees for services: Other | $143,185 |
| Advertising and promotion | $42,334 |
| Office expenses | $0 |
| Information technology | $120,540 |
| Royalties | $0 |
| Occupancy | $1,149,426 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,932,017 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,254,602 |
| Insurance | $271,055 |
| All other expenses | $0 |
| Total functional expenses | $12,373,636 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $637,005 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $36,583 |
| 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 | $11,924 |
| Net Land, buildings, and equipment | $58,611,248 |
| Investments—publicly traded securities | $19,343,460 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,800,720 |
| Total assets | $83,440,940 |
| Accounts payable and accrued expenses | $1,448,139 |
| Grants payable | $0 |
| Deferred revenue | $24,960,359 |
| Tax-exempt bond liabilities | $38,251,790 |
| 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 | $210,000 |
| Total liabilities | $64,870,288 |
| Net assets without donor restrictions | $18,570,652 |
| 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 | $83,440,940 |