Simpson Memorial Home Inc
- Assets
- $15.9m
- Revenue
- $9.4m
- Investments
- $0.0
- Employees
- 245
- Location
- West Liberty, IA
- Founding
- 00/0000
- Data as of
- 06/2022
- EIN
- 42-0950871
Organization Overview
Simpson Memorial Home Inc is located in West Liberty, IA. The organization was established in 0000. According to its NTEE Classification (E91) the organization is classified as: Nursing Facilities, under the broad grouping of Health Care and related organizations. As of 06/2022, Simpson Memorial Home Inc employed 245 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Simpson Memorial Home 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, Simpson Memorial Home Inc generated $9.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.7% each year. All expenses for the organization totaled $8.9m during the year ending 06/2022. While expenses have increased by 2.4% 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
PROVIDING CARE IN THE COMMUNITIES WE SERVE WHERE PEOPLE FEE VALUED, SAFE, RESPECTED, AND LOVED.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION OPERATES TWO CAMPUSES THAT ACCEPTS PRIVATE PAY, MEDICARE, MEDICAID, AND LONG-TERM CARE INSURANCE. SIMPSON MEMORIAL HOME AT WEST LIBERTY HAS A 55 BED SNF/NF, 18 BED ASSISTED LIVING, 24 UNIT INDEPENDENT LIVING, AND 6 UNITS OF IL TOWNHOUSES. WILTON RETIREMENT COMMUNITY IN WILTON HAS A 34 BED SNF/NF AND A 24 BED ASSISTED LIVING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chad Thomas Executive Di | Officer | 40 | $74,320 |
Clifford Mcferren Administrato | Officer | 40 | $70,340 |
Laura Brandt Administrato | Officer | 40 | $56,745 |
Lori Leggins President | OfficerTrustee | 2 | $0 |
Sara Sedlacek Vice Preside | OfficerTrustee | 2 | $0 |
Cindy Mays Secretary/tr | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Aegis Therapies Inc Therapies | 6/29/19 | $504,786 |
Martin Bros Distributing Co Food Supplies | 6/29/19 | $283,703 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $701,889 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,971 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $703,860 |
| Total Program Service Revenue | $8,485,557 |
| Investment income | $45,993 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $67,280 |
| Net Gain/Loss on Asset Sales | $48,401 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,351,091 |
| 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. | $271,533 |
| Compensation of current officers, directors, key employees. | $271,533 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,420,570 |
| Pension plan accruals and contributions | $40,843 |
| Other employee benefits | $299,829 |
| Payroll taxes | $351,895 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,080,141 |
| Advertising and promotion | $682 |
| Office expenses | $45,888 |
| Information technology | $33,215 |
| Royalties | $0 |
| Occupancy | $534,690 |
| Travel | $2,207 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $436,514 |
| Insurance | $274,357 |
| All other expenses | $44,567 |
| Total functional expenses | $8,916,865 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,000 |
| Savings and temporary cash investments | $3,507,241 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $349,160 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $63,693 |
| Prepaid expenses and deferred charges | $96,944 |
| Net Land, buildings, and equipment | $10,073,721 |
| Investments—publicly traded securities | $1,747,067 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $40,557 |
| Total assets | $15,879,383 |
| Accounts payable and accrued expenses | $653,295 |
| Grants payable | $0 |
| Deferred revenue | $815,640 |
| Tax-exempt bond liabilities | $1,605,901 |
| Escrow or custodial account liability | $190 |
| 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 | $142,890 |
| Total liabilities | $3,217,916 |
| Net assets without donor restrictions | $12,367,346 |
| Net assets with donor restrictions | $294,121 |
| 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 | $15,879,383 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Simpson Memorial Home Inc has recieved totaling $6,856.
| Awarding Organization | Amount |
|---|---|
Community Foundation Of Greater Muscatine Muscatine, IA | | $6,551 |
Von Muenster Family Foundation Anamosa, IA PURPOSE: PERSONAL PROTECTIVE EQUIPMENT | $305 |
Endowment Analysis
| Beg. Balance | $24,776 |
| Earnings | $62 |
| Other Expense | $400 |
| Ending Balance | $24,438 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Oakwood Village University Woods Homes Inc Madison, WI | $65,944,381 | $14,695,232 |
Healtheast Care Center-White Bear Lake Minneapolis, MN | $21,500,066 | $19,878,370 |
Baptist Home Inc Edina, MN | $23,839,414 | $18,350,368 |
St Johns Lutheran Home Albert Lea, MN | $48,874,024 | $18,188,441 |
Madison Healthcare Services Madison, MN | $39,706,321 | $23,223,798 |
Methodist Manor Health Center Inc West Allis, WI | $6,950,058 | $15,339,815 |
Catholic Eldercare Minneapolis, MN | $35,653,392 | $18,000,892 |
St Patrick Residence Naperville, IL | $29,023,475 | $20,568,774 |
Ebenezer Ridges Edina, MN | $19,189,354 | $17,159,113 |
Bethany Manor Inc Story City, IA | $35,629,736 | $20,182,256 |
Bethany Lutheran Home Sioux Falls, SD | $29,243,342 | $16,408,345 |
Holy Family Villa Palos Park, IL | $17,637,306 | $12,934,325 |