Oakwood Village University Woods Apartments Inc
- Assets
- $65.5m
- Revenue
- $14.2m
- Investments
- $0.0
- Employees
- 0
- Location
- Madison, WI
- Founding
- 10/1974
- Data as of
- 12/2021
- EIN
- 23-7401541
Organization Overview
Oakwood Village University Woods Apartments Inc is located in Madison, WI. The organization was established in 1974. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Oakwood Village University Woods Apartments 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 12/2021, Oakwood Village University Woods Apartments Inc generated $14.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.5% each year. All expenses for the organization totaled $14.3m during the year ending 12/2021. While expenses have increased by 0.6% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
OAKWOOD IS A LUTHERAN CHURCH SPONSORED ORGANIZATION WHOSE MISSION IS TO SERVE AGING ADULTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TOWER APARTMENTS IS OPERATED AS A SENIOR LIVING FACILITY AND IS COMPRISED OF 70 INDEPENDENT APARTMENTS FOR THE ELDERLY. RESIDENTS RECEIVE DAILY CHECK INS, OPTIONAL HOUSEKEEPING, MAINTENANCE AND FOOD SERVICE PLANS. THERE IS A FULL TIME SOCIAL WORKER, TRANSPORTATION SERVICES, AND LIFE ENRICHMENT ACTIVITIES FOR ALL PHYSICAL AND MENTAL CAPABILITIES AS WELL AS A SECURE ENVIRONMENT WITH NURSING STAFF AVAILABLE AS NEEDED. 30 OF THE UNITS ARE OPERATED UNDER SECTION 8 OF THE HOUSING LAW FOR LOW INCOME ELDERLY. THE RESIDENTS THAT QUALIFY FOR THE HUD PROGRAM HAVE THE SAME CONTINUING CARE SERVICES AS MARKET RATE RESIDENTS. DURING 2021, THERE WERE 14,059 DAYS OF CARE FOR THESE RESIDENTS.
THE OAKS AND HERITAGE OAKS ARE 90 AND 124 UNIT INDEPENDENT LIVING APARTMENT HOMES FOR THE ELDERLY. DURING 2021, THERE WERE 75,845 DAYS OF CARE FOR THESE RESIDENTS. RESIDENTS RECEIVE DAILY CHECK INS, OPTIONAL HOUSEKEEPING, MAINTENANCE AND FOOD SERVICE PLANS. THERE IS A FULL TIME SOCIAL WORKER, TRANSPORTATION SERVICES, AND LIFE ENRICHMENT ACTIVITIES FOR ALL PHYSICAL AND MENTAL CAPABILITIES. RESIDENTS RECEIVE PRIORITY ACCESS TO ASSISTED LIVING, SKILLED NURSING AND THERAPY SERVICES IF NEEDED.
TABOR OAKS IS A 60 BED ASSISTED LIVING FACILITY THAT PROVIDED 13,719 DAYS OF CARE TO AGING RESIDENTS THAT REQUIRE ASSISTANCE WITH ACTIVITIES OF DAILY LIVING. SERVICES INCLUDE 3 MEALS PER DAY, 24/7 NURSING CARE, LIFE ENRICHMENT ACTIVITIES, TRANSPORTATION, MEDICATION MANAGEMENT, PASTORAL CARE AND AVAILABILITY TO REHABILITATION SERVICES IF NEEDED. RESIDENTS WHO ARE NOT ELIGIBLE FOR PUBLIC ASSISTANCE AND ARE UNABLE TO PAY MAY BE SUBSIDIZED INTERNALLY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Marje Murray Chair | OfficerTrustee | 2 | $0 |
Peder Moren Vice Chair | OfficerTrustee | 2 | $0 |
Tom Hanson Treasurer | OfficerTrustee | 2 | $0 |
Jon Enslin Secretary Through May 2021 | OfficerTrustee | 2 | $0 |
Reginald Hislop III President/ceo | Officer | 9 | $0 |
Linda Johnson Chief Financial Officer | Officer | 9 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Creative Business Interiors Inc Commerical Interior Design | 12/30/16 | $126,899 |
Abm Healthcare Support Health Care Services | 12/30/16 | $196,716 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $70,338 |
| 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 | $70,338 |
| Total Program Service Revenue | $10,365,344 |
| Investment income | $651,673 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $3,144,132 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $14,231,487 |
| 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. | $226,879 |
| Compensation of current officers, directors, key employees. | $22,688 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,722,257 |
| Pension plan accruals and contributions | $112,182 |
| Other employee benefits | $793,020 |
| Payroll taxes | $374,961 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $49,539 |
| Fees for services: Accounting | $39,085 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $94,899 |
| Fees for services: Other | $0 |
| Advertising and promotion | $103,604 |
| Office expenses | $348,366 |
| Information technology | $371,696 |
| Royalties | $0 |
| Occupancy | $1,500,184 |
| Travel | $1,491 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $683,510 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,824,363 |
| Insurance | $198,036 |
| All other expenses | $0 |
| Total functional expenses | $14,275,072 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $700 |
| Savings and temporary cash investments | $632,609 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $107,845 |
| 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 | $0 |
| Net Land, buildings, and equipment | $28,591,420 |
| Investments—publicly traded securities | $31,033,464 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,117,010 |
| Total assets | $65,483,048 |
| Accounts payable and accrued expenses | $58,858 |
| Grants payable | $0 |
| Deferred revenue | $3,843,668 |
| Tax-exempt bond liabilities | $28,689,374 |
| 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 | $68,693,158 |
| Total liabilities | $101,285,058 |
| Net assets without donor restrictions | -$36,142,492 |
| Net assets with donor restrictions | $340,482 |
| 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 | $65,483,048 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Oakwood Village University Woods Apartments Inc has recieved totaling $70,338.
| Awarding Organization | Amount |
|---|---|
Oakwood Foundation Inc Madison, WI PURPOSE: GENERAL OPERATIONS | $70,338 |
Endowment Analysis
| Beg. Balance | $268,644 |
| Earnings | $61,939 |
| Net Contributions | $2,660 |
| Other Expense | -$7,239 |
| Ending Balance | $340,482 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lutheran Home For The Aged Arlington Heights, IL | $131,494,614 | $46,009,976 |
United Methodist Retirement Communities Inc Chelsea, MI | $156,901,085 | $36,318,347 |
Michigan Masonic Home Alma, MI | $52,789,973 | $43,622,202 |
Henry Ford Village Inc Dearborn, MI | $17,115,339 | $84,991,852 |
Lindengrove Inc Brookfield, WI | $53,159,981 | $37,652,858 |
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 |
Porter Hills Presbyterian Village Inc Grand Rapids, MI | $106,049,937 | $39,306,850 |
The Mather Evanston Evanston, IL | $197,036,841 | $28,903,935 |
Covenant Health Care Center Inc Northbrook, IL | $80,834,072 | $35,580,141 |