Phm Inver Grove Inc
- Assets
- $38.2m
- Revenue
- $10.0m
- Investments
- $2.4m
- Employees
- 0
- Location
- Roseville, MN
- Founding
- 06/2001
- Data as of
- 09/2021
- EIN
- 31-1725017
Organization Overview
Phm Inver Grove Inc is located in Roseville, MN. The organization was established in 2001. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Phm Inver Grove 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 09/2021, Phm Inver Grove Inc generated $10.0m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.0% each year. All expenses for the organization totaled $8.0m during the year ending 09/2021. While expenses have increased by 0.7% 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
THE MISSION OF THE ORGANIZATION IS TO HONOR GOD BY ENRICHING THE LIVES AND TOUCHING THE HEARTS OF OLDER ADULTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION IS LOCATED IN INVER GROVE HEIGHTS, MINNESOTA. THE CAMPUS CONSISTS OF A 84 UNIT ASSISTED LIVING FACILITY WITH 18 SPECIFICALLY DESIGNED FOR MEMORY CARE RESIDENTS, A 90 UNIT INDEPENDENT SENIOR APARTMENT BUILDING, AND 67 SENIOR TOWNHOMES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dan Lindh Board Chair/ceo | OfficerTrustee | 1 | $0 |
Mark Meyer Sec/treas/cfo | OfficerTrustee | 1 | $0 |
Duane Larson SVP Operations | Trustee | 1 | $0 |
Jonathan Fletcher VP Development | 1 | $0 | |
Teresa Larson SVP Human Resources | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Phs Management Llc Management Fee | 9/29/20 | $524,280 |
River Heights Lawn & Landscape Landscaping/lawn | 9/29/20 | $100,905 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $105,517 |
| Government grants | $665,113 |
| 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 | $770,630 |
| Total Program Service Revenue | $9,103,241 |
| Investment income | $39,730 |
| 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 | -$2,188 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,046,692 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $8,085 |
| 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 | $2,483,881 |
| Pension plan accruals and contributions | $39,241 |
| Other employee benefits | $268,052 |
| Payroll taxes | $194,088 |
| Fees for services: Management | $510,434 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $245,611 |
| Advertising and promotion | $13,615 |
| Office expenses | $92,270 |
| Information technology | $79,444 |
| Royalties | $0 |
| Occupancy | $817,609 |
| Travel | $4,303 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $700 |
| Interest | $1,191,441 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,255,582 |
| Insurance | $120,233 |
| All other expenses | $0 |
| Total functional expenses | $7,993,990 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $15,972,569 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $54,857 |
| 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 | $64,013 |
| Net Land, buildings, and equipment | $19,480,336 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $2,434,471 |
| Investments—program-related | $0 |
| Intangible assets | $180,420 |
| Other assets | $3,050 |
| Total assets | $38,189,716 |
| Accounts payable and accrued expenses | $967,601 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $20,235,000 |
| Escrow or custodial account liability | $6,149,593 |
| 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 | $0 |
| Total liabilities | $27,352,194 |
| Net assets without donor restrictions | $10,837,522 |
| 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 | $38,189,716 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Phm Inver Grove Inc has recieved totaling $105,517.
| Awarding Organization | Amount |
|---|---|
Presbyterian Homes Foundation Roseville, MN PURPOSE: FURTHER EXEMPT PURPOSE | $105,517 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Minnesota Odd Fellows Home Inc Northfield, MN | $22,867,310 | $19,456,798 |
Oakwood Village Prairie Ridge Homes Inc Madison, WI | $61,014,266 | $15,535,778 |
Volunteers Of America Inc Eden Prairie, MN | $8,598,450 | $19,135,120 |
Friends Of Faith Retirement Homes Inc Waterloo, IA | $88,184,689 | $24,765,907 |
Bethany On 42nd Fargo, ND | $42,982,371 | $19,570,716 |
Phs Cottage Grove Inc Roseville, MN | $59,058,430 | $15,462,606 |
Evans Park Inc Elk River, MN | $42,762,027 | $16,308,522 |
Volunteers Of America Inc Eden Prairie, MN | $2,912,114 | $17,645,281 |
Carondelet Village Inc Roseville, MN | $51,351,409 | $15,659,631 |
Cedar Lake Village Inc Sioux Falls, SD | $38,142,658 | $12,975,916 |
Walker Senior Services Inc Minnetonka, MN | $9,398,482 | $5,933,474 |
Living Community Of St Joseph Minneapolis, MN | $23,852,740 | $12,020,800 |