Providence Place Inc
- Assets
- $6.9m
- Revenue
- $672.8k
- Investments
- $0.0
- Employees
- 3
- Location
- Grafton, WI
- Founding
- 05/2010
- Data as of
- 12/2023
- EIN
- 26-4031366
Organization Overview
Providence Place Inc is located in Grafton, WI. The organization was established in 2010. 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 12/2023, Providence Place Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Providence Place 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 12/2023, Providence Place Inc generated $672.8k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 4.7% each year. All expenses for the organization totaled $969.3k during the year ending 12/2023. While expenses have increased by 3.7% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE PROVIDENCE PLACE WAS CREATED TO REFLECT THE LOVE OF CHRIST BY PROVIDING AN INVITING, CAREFREE AND SECURE HOME FOR INDEPENDENT SENIORS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING HOUSING FOR INDEPENDENT SENIORS, 55 AND OLDER, IN A CHRISTIAN LIVING ENVIRONMENT. OUR UNITS WERE OPEN FOR RESIDENTS ON DECEMBER 1,2010. EXPENSES ARE FOR OPERATING THE FACILITY AND MARKETING REMAINING UNITS. IN JANUARY 2018, WE OPENED PHASE II, LARGER 2-BEDROOM UNITS. COSTS OF THIS EXPANSION ARE INCLUDED ON THE ASSETS OF THE BALANCE SHEET.
PROGRAMS FOR RESIDENTS AND COMMUNITY MEMBERS: CHAPEL SERVICES, WEEKLY BIBLE STUDIES, VARIOUS LOCAL OUTINGS, CATERED MEALS FOR SPECIAL OCCASIONS, CRAFTS AND ACTIVITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tracy Ernst Board Member | OfficerTrustee | 10 | $0 |
William Feld President | Trustee | 10 | $0 |
Andy Locke Secretary | Trustee | 10 | $0 |
Rev Larry Prahl Vice-Preside | OfficerTrustee | 10 | $0 |
Donna Thiede Board Member | Trustee | 10 | $0 |
Susan Putterman Treasurer | Officer | 20 | $0 |
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 | $4,425 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,425 |
| Total Program Service Revenue | $668,400 |
| Investment income | $14 |
| 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 | $672,839 |
| 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 | $106,159 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $7,373 |
| Fees for services: Management | $6,115 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $12,480 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $448 |
| Advertising and promotion | $26,388 |
| Office expenses | $15,338 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $319,386 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $72,597 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $384,682 |
| Insurance | $18,331 |
| All other expenses | $0 |
| Total functional expenses | $969,297 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $761,059 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,475 |
| 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 | $15,396 |
| Net Land, buildings, and equipment | $6,104,677 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $891 |
| Other assets | $22,353 |
| Total assets | $6,905,851 |
| Accounts payable and accrued expenses | $57,916 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| 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 | $12,269,912 |
| Total liabilities | $12,327,828 |
| Net assets without donor restrictions | $0 |
| 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 | $413,440 |
| Retained earnings, endowment, accumulated income, or other funds | -$5,835,417 |
| Total liabilities and net assets/fund balances | $6,905,851 |