Williamsburg Retirement Community Inc
- Assets
- $35.3m
- Revenue
- $9.5m
- Investments
- $7.6m
- Employees
- 0
- Location
- Roseville, MN
- Founding
- 05/2002
- Data as of
- 09/2021
- EIN
- 75-3033211
Organization Overview
Williamsburg Retirement Community Inc is located in Roseville, MN. The organization was established in 2002. According to its NTEE Classification (L22) the organization is classified as: Senior Citizens Housing & Retirement Communities, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Williamsburg Retirement Community 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 09/2021, Williamsburg Retirement Community Inc generated $9.5m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 4.2% each year. All expenses for the organization totaled $8.9m during the year ending 09/2021. While expenses have increased by 2.5% per year over the past 6 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
THE MISSION OF THE ORGANIZATION IS TO HONOR GOD BY ENRICHING THE LIVES AND TOUCHING THE HEARTS OF OLDER ADULTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WILLIAMSBURG RETIREMENT COMMUNITY IS LOCATED IN WILLIAMSBURG, IOWA. THE CAMPUS CONSISTS OF A 59 BED NURSING HOME, A 47 UNIT ASSISTED LIVING FACILITY, 54 UNIT INDEPENDENT SENIOR LIVING APARTMENTS AND 11 SENIOR TOWNHOMES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brian Phillips Campus Admin | 40 | $126,928 | |
Dan Lindh Board Memb/pres | OfficerTrustee | 1 | $0 |
Mark Meyer Board Treas/cfo | OfficerTrustee | 1 | $0 |
Chuck Orr Board Member | Trustee | 1 | $0 |
Mike Moore Board Member | Trustee | 1 | $0 |
Arlene Holden Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Phs Management Llc Management Fee | 9/29/21 | $333,321 |
Mccomas-lacina Construction Llc Construction | 9/29/21 | $1,195,414 |
Onr National Inc Therapy | 9/29/21 | $124,968 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $245,734 |
| Government grants | $676,460 |
| 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 | $922,194 |
| Total Program Service Revenue | $8,163,735 |
| Investment income | $228,819 |
| 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 | -$1,487 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,467,735 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,295,874 |
| Pension plan accruals and contributions | $58,309 |
| Other employee benefits | $561,105 |
| Payroll taxes | $296,833 |
| Fees for services: Management | $333,321 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $10,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $274,528 |
| Advertising and promotion | $14,666 |
| Office expenses | $80,563 |
| Information technology | $110,917 |
| Royalties | $0 |
| Occupancy | $404,594 |
| Travel | $1,635 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,612 |
| Interest | $188,747 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,285,459 |
| Insurance | $131,856 |
| All other expenses | $0 |
| Total functional expenses | $8,859,658 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $3,937,090 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $99,211 |
| 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 | $13,216 |
| Net Land, buildings, and equipment | $23,568,244 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $7,619,339 |
| Investments—program-related | $0 |
| Intangible assets | $14,062 |
| Other assets | $0 |
| Total assets | $35,251,162 |
| Accounts payable and accrued expenses | $656,892 |
| Grants payable | $0 |
| Deferred revenue | $49,399 |
| Tax-exempt bond liabilities | $4,482,230 |
| Escrow or custodial account liability | $1,734,704 |
| 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 | $1,070,094 |
| Total liabilities | $7,993,319 |
| Net assets without donor restrictions | $20,653,523 |
| Net assets with donor restrictions | $6,604,320 |
| 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 | $35,251,162 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Williamsburg Retirement Community Inc has recieved totaling $245,734.
| Awarding Organization | Amount |
|---|---|
Presbyterian Homes Foundation Roseville, MN PURPOSE: FURTHER EXEMPT PURPOSE | $245,734 |
Endowment Analysis
| Beg. Balance | $5,538,887 |
| Earnings | $1,294,859 |
| Other Expense | $229,426 |
| Ending Balance | $6,604,320 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Minnesota Odd Fellows Home Inc Northfield, MN | $22,867,310 | $19,456,798 |
Oakwood Village Prairie Ridge Homes Inc Madison, WI | $61,014,266 | $15,535,778 |
Volunteers Of America Inc Eden Prairie, MN | $8,598,450 | $19,135,120 |
Friends Of Faith Retirement Homes Inc Waterloo, IA | $88,184,689 | $24,765,907 |
Bethany On 42nd Fargo, ND | $42,982,371 | $19,570,716 |
Phs Cottage Grove Inc Roseville, MN | $59,058,430 | $15,462,606 |
Evans Park Inc Elk River, MN | $42,762,027 | $16,308,522 |
Volunteers Of America Inc Eden Prairie, MN | $2,912,114 | $17,645,281 |
Carondelet Village Inc Roseville, MN | $51,351,409 | $15,659,631 |
Cedar Lake Village Inc Sioux Falls, SD | $38,142,658 | $12,975,916 |
Walker Senior Services Inc Minnetonka, MN | $9,398,482 | $5,933,474 |
Living Community Of St Joseph Minneapolis, MN | $23,852,740 | $12,020,800 |