Homestead At Rochester Inc
- Assets
- $84.7m
- Revenue
- $19.7m
- Investments
- $0.0
- Employees
- 271
- Location
- Eden Prairie, MN
- Founding
- 10/2003
- Data as of
- 06/2021
- EIN
- 30-0186547
Organization Overview
Homestead At Rochester Inc is located in Eden Prairie, MN. The organization was established in 2003. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. As of 06/2021, Homestead At Rochester Inc employed 271 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Homestead At Rochester 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 06/2021, Homestead At Rochester Inc generated $19.7m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 11.6% each year . All expenses for the organization totaled $19.8m during the year ending 06/2021. While expenses have increased by 6.7% 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
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE HOMESTEAD AT ROCHESTER, INC. PROVIDES INDEPENDENT AND ASSISTED LIVING SERVICES AND NURSING AND LONG-TERM CARE SERVICES FOR SENIORS IN MINNESOTA.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Maranga Boaz Registered Nurse | 40 | $124,695 | |
Heintz Valerie Director Of Nursing | 40 | $102,955 | |
King Michael W President | OfficerTrustee | 3 | $0 |
Arnoldpatti Chairperson | OfficerTrustee | 0.1 | $0 |
Rase Nancy Vice Chair | OfficerTrustee | 0.1 | $0 |
Dolan Thomas Secretary | OfficerTrustee | 0.1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cura Hospitality Dietary Services | 6/29/21 | $829,822 |
Volunteers Of America National Services Management Services | 6/29/21 | $772,467 |
Centrex Rehab Contract Therapy Provider | 6/29/21 | $833,709 |
Sodexo Inc Dietary Services | 6/29/21 | $301,435 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $2,823,518 |
| Government grants | $371,033 |
| All other contributions, gifts, grants, and similar amounts not included above | $897 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,195,448 |
| Total Program Service Revenue | $16,199,600 |
| Investment income | $9,848 |
| 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 | $19,652,604 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $11,060 |
| 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 | $4,148,327 |
| Pension plan accruals and contributions | $17,661 |
| Other employee benefits | $549,476 |
| Payroll taxes | $264,403 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,377 |
| Fees for services: Accounting | $29,553 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,434,794 |
| Advertising and promotion | $102,548 |
| Office expenses | $311,451 |
| Information technology | $182,984 |
| Royalties | $0 |
| Occupancy | $1,351,562 |
| Travel | $32,829 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,332 |
| Interest | $4,496,204 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,677,969 |
| Insurance | $364,277 |
| All other expenses | $133,371 |
| Total functional expenses | $19,848,636 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,386,326 |
| Savings and temporary cash investments | $1,493,799 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,006,649 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $61,625 |
| Prepaid expenses and deferred charges | $397,217 |
| Net Land, buildings, and equipment | $65,349,834 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $13,965,646 |
| Total assets | $84,661,096 |
| Accounts payable and accrued expenses | $1,980,134 |
| Grants payable | $0 |
| Deferred revenue | $1,152,251 |
| Tax-exempt bond liabilities | $71,282,531 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $10,237 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $9,064,085 |
| Total liabilities | $83,489,238 |
| Net assets without donor restrictions | $1,171,858 |
| 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 | $84,661,096 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Homestead At Rochester Inc has recieved totaling $2,823,518.
| Awarding Organization | Amount |
|---|---|
Volunteers Of America Inc Eden Prairie, MN PURPOSE: OPERATIONS | $2,700,000 |
Volunteers Of America Inc Eden Prairie, MN PURPOSE: OPERATIONS | $123,518 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Family Housing Fund Minneapolis, MN | $55,836,528 | $42,355,449 |
Aeon Minneapolis, MN | $205,354,447 | $34,369,814 |
Governmental And Educational Assistance Corporation Brooklyn Park, MN | $65,629,127 | $32,792,478 |
Habitat For Humanity International Inc St Paul, MN | $95,417,664 | $44,081,313 |
One Vision Clear Lake, IA | $49,722,327 | $26,134,344 |
Trellis Co Minneapolis, MN | $174,341,513 | $41,938,944 |
Integrated Community Services Inc Green Bay, WI | $950,571 | $23,339,700 |
Friendship Haven Inc Fort Dodge, IA | $50,931,455 | $22,390,428 |
Community Housing Corporation Of America Inc St Paul, MN | $54,692,887 | $61,922,441 |
Sholom Home East Inc St Paul, MN | $55,805,227 | $20,264,604 |
Homestead At Rochester Inc Eden Prairie, MN | $84,661,096 | $19,652,604 |
Jeremiah Program Minneapolis, MN | $39,745,824 | $13,376,447 |