Clare Oaks
- Assets
- $26.2m
- Revenue
- $13.3m
- Investments
- $0.0
- Employees
- 292
- Location
- Bartlett, IL
- Founding
- 05/2005
- Data as of
- 06/2021
- EIN
- 01-0729134
Organization Overview
Clare Oaks is located in Bartlett, IL. The organization was established in 2005. 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. As of 06/2021, Clare Oaks employed 292 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Clare Oaks 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 06/2021, Clare Oaks generated $13.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (6.4%) each year. All expenses for the organization totaled $21.6m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (0.9%) per year over the past 6 years. 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
CLARE OAKS IS AN ENDURING SENIOR LIVING COMMUNITY THAT SUPPORTS A FULLER AND FREER LIFE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CLARE OAKS IS A LIFE PLAN COMMUNITY (LPC) PROVIDING LIVING ARRANGEMENTS AND SERVICES TO PERSONS 62 YEARS OF AGE AND OLDER. CAMPUS WIDE SERVICES INCLUDE DINING, ACTIVITIES, MAINTENANCE, HOUSEKEEPING, WELLNESS PROGRAMS, SUPPORTIVE SERVICES AND 24 HOUR SECURITY. THE INDEPENDENT LIVING AREA (164 RESIDENCES) OFFERS A VARIETY OF PRIVATE LIVING ARRANGEMENTS, A FITNESS CENTER, LIBRARY, MINI MART, COMPUTER ROOM AND TRANSPORTATION. THE ASSISI HEALTH CARE CENTER OFFERS LONG TERM SKILLED CARE AND SHORT TERM REHABILITATION SERVICES. LICENSED STAFF IN THE ASSISTED LIVING (17 SUITES), MEMORY SUPPORT (16 SUITES) AND SKILLED NURSING NEIGHBORHOODS (120 ROOMS) PROVIDE COURTEOUS SERVICE, HOSPITALITY, DIGNITY AND RESPECT TO ALL IN OUR CARE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeannene Walker CEO (former) | Officer | 40 | $355,338 |
Timothy Lynch Executive Director | Officer | 40 | $140,749 |
Julie Boggess Chairperson | OfficerTrustee | 3 | $0 |
Annette Shoemaker Member Of The Board | OfficerTrustee | 3 | $0 |
James Nugent Treasurer | OfficerTrustee | 3 | $0 |
Kathy Meisinger Member Of The Board | Trustee | 3 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Er Senior Management Llc Management And Director Fee | 6/29/21 | $535,084 |
Polsinelli Pc Legal | 6/29/21 | $611,271 |
Symbria Rehab Inc Therapy Services | 6/29/21 | $496,809 |
Perkins Coie Llp Legal | 6/29/21 | $335,583 |
Stretto Communications Agent | 6/29/21 | $330,414 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| 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 | $0 |
| Total Program Service Revenue | $13,275,973 |
| Investment income | $759 |
| 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 | $13,279,793 |
| 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 | $265,048 |
| Other salaries and wages | $6,558,861 |
| Pension plan accruals and contributions | $41,348 |
| Other employee benefits | $629,774 |
| Payroll taxes | $407,741 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $70,798 |
| 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 | $633,558 |
| Advertising and promotion | $79,873 |
| Office expenses | $145,233 |
| Information technology | $177,126 |
| Royalties | $0 |
| Occupancy | $1,020,299 |
| Travel | $12,868 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $281 |
| Interest | $3,111,113 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,418,309 |
| Insurance | $901,209 |
| All other expenses | $1,561,354 |
| Total functional expenses | $21,635,919 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,157,339 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,346,295 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $18,707 |
| Inventories for sale or use | $57,645 |
| Prepaid expenses and deferred charges | $1,377,280 |
| Net Land, buildings, and equipment | $16,585,303 |
| Investments—publicly traded securities | $3,979,415 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $680,000 |
| Total assets | $26,201,984 |
| Accounts payable and accrued expenses | $2,191,624 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $51,793,093 |
| 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 | $46,244,862 |
| Total liabilities | $100,229,579 |
| Net assets without donor restrictions | -$74,027,595 |
| 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 | $26,201,984 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Clare Oaks has recieved totaling $1,000.
| Awarding Organization | Amount |
|---|---|
Andrew Family Foundation Orland Park, IL PURPOSE: CLARE OAKS EMPLOYEE FUND | $1,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
American Senior Communities Group Health Plan Indianapolis, IN | $8,703,398 | $37,045,158 |
Tarrant County Senior Living Center Inc West Des Moines, IA | $161,252,746 | $23,022,366 |
Barton Creek Senior Living Center Inc West Des Moines, IA | $120,925,043 | $23,689,068 |
Kenton Housing Inc Latonia, KY | $68,380,829 | $31,745,821 |
Washington & Jane Smith Community- Orland Park Orland Park, IL | $98,659,201 | $23,019,583 |
Clare Oaks Bartlett, IL | $26,201,984 | $13,279,793 |
Ness Healthcare Nfp Lincolnwood, IL | $31,649,898 | $15,770,291 |
Moosehaven Inc Mooseheart, IL | $55,843,533 | $19,375,610 |
Masonic Home Independent Living Ii Inc Masonic Home, KY | $142,516,912 | $16,410,935 |
Oakwood Village Prairie Ridge Homes Inc Madison, WI | $61,014,266 | $15,535,778 |
Saint Anne Home And Retirment Community Fort Wayne, IN | $21,467,824 | $25,970,139 |
Friends Of Faith Retirement Homes Inc Waterloo, IA | $88,184,689 | $24,765,907 |