Lifespace Communities Inc
- Assets
- $1.1b
- Revenue
- $248.2m
- Investments
- $0.0
- Employees
- 3,751
- Location
- West Des Moines, IA
- Founding
- 10/1977
- Data as of
- 12/2019
- EIN
- 42-1068850
Organization Overview
Lifespace Communities Inc is located in West Des Moines, IA. The organization was established in 1977. 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 12/2019, Lifespace Communities Inc employed 3,751 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations.
For the year ending 12/2019, Lifespace Communities Inc generated $248.2m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 0.8% each year. All expenses for the organization totaled $263.4m during the year ending 12/2019. While expenses have increased by 1.9% per year over the past 5 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
2019
Describe the Organization's Mission:
Part 3 - Line 1
CREATE COMMUNITIES CELEBRATING THE LIVES OF SENIORS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LIFESPACE COMMUNITIES, INC. OWNS ELEVEN DIFFERENT COMMUNITIES (5 IN FL, 2 IN IL, 1 IN MN, KS, PA AND NE) WHICH PROVIDE APARTMENTS AND HEALTH CARE FOR RETIRED PERSONS. RESIDENTS PAY AN INITIAL ENTRANCE FEE AND MONTHLY FEES THEREAFTER WHICH ENTITLE THEM TO THE USE OF THE COMMUNITY FOR LIFE AND UNLIMITED USE OF THE HEALTH CENTER. RESIDENTS DO NOT ACQUIRE TITLE OF THE PROPERTY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Larry Smith Interim President, Ceo, & CFO | Officer | 40 | $603,909 |
M Sloan Bentley Pres. CEO & Dir. (through 2/2019) | OfficerTrustee | 40 | $550,664 |
Ann Walsh Senior Vice President - Op | Officer | 40 | $405,680 |
Russell Mauk VP Of Develop/design/construct | Officer | 40 | $339,319 |
Terese Juntz Senior Vice President - Hr | Officer | 40 | $330,168 |
Thomas Brod SVP Of Business Developmen | Officer | 40 | $316,775 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Thomas Management Llc Culinary Services | 12/30/19 | $23,889,197 |
Kraus-anderson Construction Company Contractor | 12/30/19 | $9,511,288 |
Pepper Construction Contractor | 12/30/19 | $17,223,045 |
Lecesse Construction Services Llc Contractor | 12/30/19 | $30,646,228 |
Rehabcare Group East Inc Health Center | 12/30/19 | $7,601,385 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $314,729 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $314,729 |
| Total Program Service Revenue | $238,199,146 |
| Investment income | $8,029,090 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $33,233 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $85,102 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $248,211,607 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,357,317 |
| Grants and other assistance to domestic individuals. | $1,012,688 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $4,872,435 |
| Compensation of current officers, directors, key employees. | $3,897,948 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $92,420,397 |
| Pension plan accruals and contributions | $1,388,442 |
| Other employee benefits | $15,417,398 |
| Payroll taxes | $6,495,290 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $835,426 |
| Fees for services: Accounting | $340,815 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $231,995 |
| Fees for services: Other | $30,325,100 |
| Advertising and promotion | $7,726,120 |
| Office expenses | $2,719,406 |
| Information technology | $3,365,992 |
| Royalties | $0 |
| Occupancy | $16,836,868 |
| Travel | $1,932,325 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $6,748,117 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $48,282,512 |
| Insurance | $1,619,528 |
| All other expenses | $4,344,200 |
| Total functional expenses | $263,399,579 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $20,678,325 |
| Savings and temporary cash investments | $5,032,191 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $9,300,487 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,030,591 |
| Prepaid expenses and deferred charges | $3,884,071 |
| Net Land, buildings, and equipment | $599,812,334 |
| Investments—publicly traded securities | $110,624,533 |
| Investments—other securities | $0 |
| Investments—program-related | $1,031,332 |
| Intangible assets | $50,295,432 |
| Other assets | $272,569,550 |
| Total assets | $1,074,258,846 |
| Accounts payable and accrued expenses | $37,867,093 |
| Grants payable | $0 |
| Deferred revenue | $14,559,218 |
| Tax-exempt bond liabilities | $478,817,860 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $4,532,030 |
| Unsecured mortgages and notes payable | $2,675,317 |
| Other liabilities | $597,430,786 |
| Total liabilities | $1,135,882,304 |
| Net assets without donor restrictions | -$61,623,458 |
| 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 | $1,074,258,846 |
Grants Awarded
Over the last fiscal year, Lifespace Communities Inc has awarded $2,347,639 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
West Des Moines, IA PURPOSE: GUARANTEE OF DEBT PAYMENTS | $2,259,217 |
West Des Moines, IA PURPOSE: TO SUPPORT GENERAL OPERATIONS | $88,422 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Lifespace Communities Inc has recieved totaling $275,374.
| Awarding Organization | Amount |
|---|---|
The Lifespace Foundation West Des Moines, IA PURPOSE: DISTRIBUTION FOR COMMUNITY APPROVED PROJECTS AND PAYMENTS ON BEHALF OF COMMUNITIES | $275,374 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lifespace Communities Inc West Des Moines, IA | $1,074,258,846 | $248,211,607 |
Lutheran Senior Services St Louis, MO | $599,827,596 | $181,126,039 |
Ecumen Shoreview, MN | $324,833,912 | $152,660,073 |
Ecumen Shoreview, MN | $323,532,756 | $147,875,179 |
Ascension Michigan St Louis, MO | $22,551,369 | $142,660,673 |
Franciscan Communities Inc Lemont, IL | $244,340,254 | $132,643,555 |
Wesley Retirement Services Inc Johnston, IA | $293,068,365 | $92,112,196 |
John Knox Village Lees Summit, MO | $188,344,073 | $71,695,277 |
American Baptist Homes Of The Midwest Eden Prairie, MN | $108,197,702 | $73,630,802 |
Council For Jewish Elderly Chicago, IL | $65,504,074 | $67,332,896 |
Presbyterian Homes Housing And Assisted Living Inc Roseville, MN | $170,116,835 | $83,550,683 |
Evangelical Retirement Homes Of Greater Chicago Inc Schaumburg, IL | $129,997,499 | $58,714,137 |