Madrid Home For The Aging
- Assets
- $24.8m
- Revenue
- $12.5m
- Investments
- $0.0
- Employees
- 226
- Location
- Cedar Falls, IA
- Founding
- 03/1978
- Data as of
- 12/2020
- EIN
- 42-1094104
Organization Overview
Madrid Home For The Aging is located in Cedar Falls, IA. The organization was established in 1978. 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 12/2020, Madrid Home For The Aging employed 226 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Madrid Home For The Aging 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 12/2020, Madrid Home For The Aging generated $12.5m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 0.5% each year. All expenses for the organization totaled $11.2m during the year ending 12/2020. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
MADRID HOME COMMUNITIES STRIVE TO FOLLOW CHRIST'S EXAMPLE OF HUMBLE SERVICE BY OFFERING EACH OLDER ADULT SERVED THE CHOICES AND COMPASSIONATE SUPPORT THEY NEED IN SURROUNDINGS THAT FEEL LIKE HOME.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MADRID HOME FOR THE AGING PROVIDES LONG-TERM CARE SERVICES TO APPROXIMATELY 300 PERSONS ANNUALLY IN VARIOUS LEVELS OF CARE INCLUDING 88 LICENSED NURSING HOME BEDS, 61 INDEPENDENT LIVING APARTMENTS AND 85 ASSISTED LIVING UNITS. APPROXIMATELY 250 FULL AND PART-TIME EMPLOYEES ARE EMPLOYED ANNUALLY TO PROVIDE THESE SERVICES THROUGHOUT THE YEAR. WE CONTINUE TO EMBRACE OUR COMMITMENT OF CHARITY BY PROVIDING ASSISTANCE TO INDIVIDUALS IN OUR ASSISTED LIVING PROGRAM WHO DO NOT HAVE THE RESOURCES TO PAY FOR THE SERVICES PROVIDED. THIS IS DONE THROUGH OUR ACTS FUND, THROUGH WHICH WE SERVED 9 PERSONS DURING THE YEAR. WE CONTINUE TO LOOK FOR WAYS TO IMPROVE OUR DELIVERY OF SERVICES TO EMPHASIZE THE RESIDENT CENTERED CARE THAT FOCUSES ON RESIDENT PREFERENCES JUST AS THEY WOULD EXPECT IN THEIR OWN HOME.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Matt Hau Executive Director | 40 | $108,785 | |
Catherine Meier Treasurer | OfficerTrustee | 1 | $0 |
Matt Garcia Cbo (thru 10/2020) | OfficerTrustee | 1 | $0 |
Kris Hansen Chair | OfficerTrustee | 1 | $0 |
Pat O'leary Cso (beg 11/2020) | Officer | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Blue Stone Therapy Solutions Therapy Solutions | 12/30/20 | $331,447 |
Western Home Services Inc Consulting/managment Services | 12/30/20 | $704,168 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $666,922 |
| All other contributions, gifts, grants, and similar amounts not included above | $189,639 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $856,561 |
| Total Program Service Revenue | $11,544,076 |
| Investment income | $57,898 |
| 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 | $12,458,535 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $51,023 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $137,459 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,818,381 |
| Pension plan accruals and contributions | $81,037 |
| Other employee benefits | $577,784 |
| Payroll taxes | $355,805 |
| Fees for services: Management | $704,169 |
| 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 | $858,447 |
| Advertising and promotion | $75,230 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $814,227 |
| Travel | $29,404 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $453,711 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,121,450 |
| Insurance | $169,838 |
| All other expenses | $0 |
| Total functional expenses | $11,192,017 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,397,421 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $578,858 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $56,374 |
| Prepaid expenses and deferred charges | $78,825 |
| Net Land, buildings, and equipment | $17,954,137 |
| Investments—publicly traded securities | $1,463,048 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $1,125,000 |
| Other assets | $2,126,436 |
| Total assets | $24,780,099 |
| Accounts payable and accrued expenses | $1,096,769 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $9,289,793 |
| Escrow or custodial account liability | $14,288 |
| 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 | $636,391 |
| Total liabilities | $11,037,241 |
| Net assets without donor restrictions | $13,093,149 |
| Net assets with donor restrictions | $649,709 |
| 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 | $24,780,099 |
Endowment Analysis
| Beg. Balance | $76,169 |
| Ending Balance | $76,169 |
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 |