Westminster Village West Lafayette Inc
- Assets
- $100.1m
- Revenue
- $24.8m
- Investments
- $0.0
- Employees
- 413
- Location
- West Lafayette, IN
- Founding
- 06/1982
- Data as of
- 06/2023
- EIN
- 31-1002846
Organization Overview
Westminster Village West Lafayette Inc is located in West Lafayette, IN. The organization was established in 1982. 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. As of 06/2023, Westminster Village West Lafayette Inc employed 413 individuals. This organization is the central organization for a national or regional group of organizations. Westminster Village West Lafayette 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 06/2023, Westminster Village West Lafayette Inc generated $24.8m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.8% each year. All expenses for the organization totaled $27.6m during the year ending 06/2023. While expenses have increased by 3.5% per year over the past 8 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
PROVIDES RESIDENTIAL FACILITIES DESIGNED TO MEET THE NEEDS OF THE ELDERLY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WESTMINSTER VILLAGE WEST LAFAYETTE, INC. IS A NOT-FOR-PROFIT, LIFE PLAN COMMUNITY LOCATED IN WEST LAFAYETTE, INDIANA. FACILITIES INCLUDE 109 RESIDENTIAL UNITS (INDEPENDENT LIVING CENTER), 54 INDEPENDENT LIVING COTTAGES, 54 HYBRID HOMES, A 72 BED COMPREHENSIVE CARE FACILITY (THE HEALTH CENTER), AND A 70 BED ASSISTED LIVING FACILITY. WESTMINSTER'S PRIMARY PURPOSE IS THE PROVISION OF CONTINUING CARE SERVICES TO THE CITIZENS OF WEST LAFAYETTE, INDIANA AND THE SURROUNDING COMMUNITIES.
THE VILLAGE PROVIDES CARE TO RESIDENTS WHO MEET CERTAIN CRITERIA UNDER ITS FINANCIAL ASSISTANCE POLICY WITHOUT CHARGE. THE KEY ELEMENT USED TO DETERMINE ELIGIBILITY IS THE RESIDENT'S INABILITY TO PAY THEIR MONTHLY CHARGES AS DOCUMENTED IN AN APPLICATION THAT REQUIRES THEM TO REPORT TOTAL MONTHLY INCOME AND TOTAL ASSETS AND IS APPROVED BY MANAGEMENT AND THE BOARD. BECAUSE THE VILLAGE DOES NOT PURSUE COLLECTION OF AMOUNTS DETERMINED TO QUALIFY FOR FINANCIAL ASSISTANCE, THEY ARE NOT REPORTED AS REVENUE. THE VILLAGE HAS ESTIMATED ITS DIRECT AND INDIRECT COSTS OF PROVIDING FINANCIAL ASSISTANCE UNDER ITS FINANCIAL ASSISTANCE POLICY. BECAUSE ALL OF THE FINANCIAL ASSISTANCE PROVIDED DURING THE PERIOD WHERE IN THE SKILLED NURSING SETTING, MANAGEMENT ESTIMATED THAT THE COST OF PROVIDING FINANCIAL ASSISTANCE IS APPROXIMATELY EQUAL TO THE RATES BEING FOREGONE. USING THIS METHODOLOGY, THE VILLAGE HAS ESTIMATED THE COSTS FOREGONE FOR SERVICES AND SUPPLIES FURNISHED UNDER THE VILLAGE'S FINANCIAL ASSISTANCE POLICY OF APPROXIMATELY $- AND $223,000 FOR THE YEARS ENDED JUNE 30, 2023 AND 2022, RESPECTIVELY. THIS AMOUNT IS INCLUDED AS AN OFFSET TO RESIDENT SERVICES REVENUE.
CONSISTENT WITH THE MISSION STATEMENT OF THE VILLAGE, THE VILLAGE IS COMMITTED TO PROVIDING PROGRAMS, SERVICES AND CONTRIBUTIONS (BOTH IN KIND AND FINANCIAL) THAT TARGET THE RESIDENT POPULATION AT THE VILLAGE, AS WELL AS TO BENEFIT THE BROADER COMMUNITY. IN ADDITION TO THE FINANCIAL ASSISTANCE, THE VILLAGE PROVIDES COMMUNITY SERVICES THAT INCLUDE, BUT ARE NOT LIMITED TO EDUCATIONAL PROGRAMS, TRANSPORTATION AND CHURCH RELATIONS ALL TARGETED TOWARDS ENHANCING THE QUALITY OF LIFE OF THE RESIDENTS. THE COST OF THESE PROGRAMS AND SERVICES ARE INCLUDED IN OPERATING EXPENSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sandra Fights President | OfficerTrustee | 5 | $0 |
Richard L Bartholomew Vice-President | OfficerTrustee | 3 | $0 |
Glenn Tompkins Treasurer | OfficerTrustee | 5 | $0 |
Jane Smith Secretary | OfficerTrustee | 5 | $0 |
Brad Deno Director | Trustee | 3 | $0 |
Bret Hawks Director | Trustee | 3 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Pepper Construction Construction | 6/29/23 | $6,071,815 |
Life Care Companies Management Company | 6/29/23 | $1,092,097 |
Select Rehabilitation Rehabilitation Services | 6/29/23 | $1,034,072 |
Lawn & Shrub Landscaping | 6/29/23 | $450,996 |
Rjg Services Llc Construction | 6/29/23 | $501,064 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $203,832 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $85,748 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $289,580 |
| Total Program Service Revenue | $23,755,611 |
| Investment income | $240,612 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$182,005 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $31,169 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $24,755,270 |
| 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. | $226,580 |
| Compensation of current officers, directors, key employees. | $226,580 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $10,230,316 |
| Pension plan accruals and contributions | $169,864 |
| Other employee benefits | $1,317,068 |
| Payroll taxes | $722,375 |
| Fees for services: Management | $773,745 |
| Fees for services: Legal | $7,357 |
| Fees for services: Accounting | $62,446 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $55,719 |
| Fees for services: Other | $2,311,843 |
| Advertising and promotion | $147,016 |
| Office expenses | $1,055,192 |
| Information technology | $448,951 |
| Royalties | $0 |
| Occupancy | $1,545,622 |
| Travel | $88,467 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,208,008 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,347,533 |
| Insurance | $415,516 |
| All other expenses | $86,602 |
| Total functional expenses | $27,572,502 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $970,561 |
| Savings and temporary cash investments | $7,008,837 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,107,149 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $132,581 |
| Prepaid expenses and deferred charges | $109,275 |
| Net Land, buildings, and equipment | $74,432,819 |
| Investments—publicly traded securities | $10,451,508 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $5,933,920 |
| Other assets | $0 |
| Total assets | $100,146,650 |
| Accounts payable and accrued expenses | $2,894,406 |
| Grants payable | $0 |
| Deferred revenue | $6,132,176 |
| Tax-exempt bond liabilities | $47,284,948 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $9,199,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $44,124,355 |
| Total liabilities | $109,634,885 |
| Net assets without donor restrictions | -$9,510,863 |
| Net assets with donor restrictions | $22,628 |
| 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 | $100,146,650 |